Thread: Forex News from InstaForex

SGX Warns of Looming Headwinds after Weak Quarterly Profit Increase





After posting a 5% increase in second-quarter profit, Singapore Exchange Limited cautioned that it expects to several headwinds this year. It also announced its plan to accomplish more IPOs in key sectors including the property and technology sector.


SGX CEO Loh Boon Chye stated that while market sentiment has been lifted, uncertainty prevails regarding U.S. policies under President Donald Trump's administration and as trading activity is seen to be impacted by slowing Asian economies.


The bourse posted a net profit of S488.3 million in the October-December, topping estimates and higher than the S$83.7 million a year earlier. Revenue rose 3% to S$199.6 millin.


SGX has implemented measures to increase market liquidity, enhance listings' quality and solidify its regulatory framework after a stock crash in 2013 that affected its reputation. However, it still struggles to improve trading activity.


Loh said SGX is banking on IPO to provide impetus to the exchange's growth. He noted the importance of choosing sector strengths based on economic prospects. He reported that SGX is aiming for tech, infrastructure, real estate companies and consumer companies looking to have a market valuation of more than $1 billion Singaporean dollars.


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Fxwirepro: Japanese Yen Marginally Lower Despite Higher Than expected Manufacturing Pmi Data





USD/JPY is currently trading around 112.80 marks.
It made intraday high at 112.93 and low at 112.52 levels.
Intraday bias remains neutral till the time pair holds key support at 112.57 levels.
A daily close above 112.57 will take the parity higher towards key resistances around 114.42, 115.61, 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.
On the other side, a sustained close below 112.57 will drag the parity down towards key supports around 112.05, 111.35, 110.85, 109.72, 106.72, 106.03 and 104.96 levels respectively. Japan’s Nikkei manufacturing PMI increases to 52.8 vs previous 52.4.
Japan’s January new export orders rise at quickest pace in over a year


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Gold Reached Two-Month Peak as Trump Uncertainty Looms





Gold climbed on Monday, hitting its highest in two months as uncertainty regarding the economic policies of U.S. President Donald Trump pressured investors to turn to safer assets. Uncertainty concerning Trump's policies drove the dollar to a 1-½ month low against a basket of currencies.


Spot gold was 0.56 percent higher at $1,216.33 per ounce. It previously reached $1,219.43, its highest since Nov. 22. U.S. gold futures was up at $1,215.60. The precious metal ended one percent higher last week for its fourth consecutive week of gains and longest stretch of weekly rises since July. Data from the U.S. Commodity Futures Trading Commission (CFTC) showed that speculators increased their net long positions in COMEX gold contracts for a second week in the week to Jan. 17.


Among other precious metals, silver climbed 0.93 percent to $17.19 and platinum added 0.77 percent to $983.50. Palladium was 1.57 percent lower at $776.00, as it previously hit $795.60, its highest since May 2015.


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Australia Inflation Gains 0.5% On Quarter In Q4





Consumer prices in Australia advanced 0.5 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Wednesday.


That was beneath expectations for 0.7 percent, which would have been unchanged from the previous three months.


The most significant price rises in Q4 were tobacco (+7.4 percent), automotive fuel (+6.7 percent) and restaurant meals (+1.1 percent).


These rises were partially offset by falls in furnishings, household equipment and services (-0.8 percent) and communication (-0.8 percent).


Vegetables rose 2.5 percent in Q4 as adverse weather conditions in major growing areas affected supply for particular vegetables (potatoes, capsicums, broccoli and cauliflower). Offsetting these rises are price falls for salad vegetables, tomatoes, lettuce and celery.


The most significant offsetting price falls in Q4 were international holiday travel and accommodation (-2.6 percent), accessories (-5.1 percent) and waters, soft drinks and juices (-3.2 percent).


On a yearly basis, inflation gained 1.5 percent -0 again shy of forecasts for 1.6 percent but up from 1.3 percent in the three months prior.


The Reserve Bank of Australia's trimmed mean was up 0.4 percent on quarter and 1.6 percent on year, while the weighted median gained 0.4 percent on month and 1.5 percent on year.


Also on Wednesday, Westpac Bank said that its leading economic indicator for the Australian economy jumped in December, rising 0.44 percent last month.


That follows the upwardly revised 0.03 percent gain in November (originally 0.02 percent).


The six-month growth rate climbed from flat in November to 1.28 percent in December; in all, the index has been above trend in five straight months.


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Dollar, U.S. Yields Higher Amid Uncertainty on Trump’s Protectionist Stance





The dollar held gains as Treasury yields rebounded, lifting the greenback from recent lows against the yen and euro amid unease regarding U.S. President Donald Trump's protectionist stance. The dollar index dropped as low as 99.922 on Tuesday, as the initial enthusiasm tempered by Trump's inaugural speech from the previous week was pointing towards trade protectionism. The index was last at 100.270.


The U.S. currency was 0.1 percent higher, it had added nearly one percent the day earlier, jumping from 112.520, its lowest since late November. The euro was steady at $1.0730. The common currency has shed nearly 0.3 percent overnight, retreating from a near seven-week peak of $1.0755. The pound was 0.1 percent higher. It had weakened to as low as $1.2420 overnight before rebounding after the British Supreme Court ruled that the government will pass through parliament.


The Australian dollar climbed 0.2 percent at $0.7591. However, the dollar's overnight rise kept the Aussie away from a 10-week peak of $0.7609 touched the day earlier. U.S. Treasury yields rose as investors seized equities on better outlook on latest corporate profits, reducing their safe-haven demand for bonds triggered by Trump's protectionist trade stance.


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Japan Producer Prices Rise 0.4% In December





Producer prices in Japan were up 0.4 percent on month in December, the Bank of Japan said on Thursday - topping forecasts for 0.3 percent, which would have been unchanged from the November reading.


On a monthly basis, producer prices added 0.1 percent for the second straight month.


For the fourth quarter of 2016, producer prices were up 0.4 percent on year and 0.2 percent on quarter. That followed the 0.3 percent yearly growth and the 0.2 percent quarterly gain in Q3.


For all of 2016, producer prices added 0.3 percent after gaining 1.1 percent in the previous year.


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Strong Quarterly Results, Upbeat 2017 Forecast Boost Boeing Shares





Boeing Co. reported positive quarterly profit and operating cash and issued an optimistic outlook for the performance of the company in 2017 as it benefits from its aggressive cost-cutting measures, increasing productivity and President Donald Trump's pro-growth stance.


The company's stock surged almost 5% to $168.50 on Wednesday after the firm reported it is projecting to generate a record $10.75 billion in operating cash this 2017.


The total is higher compared to the record $10.5 billion in 2016 and is significantly higher than the $10.4 billion that analysts had projected for the current year.


Boeing projected core earnings of $9.10 to $9.30 per share this year, up from the $7.24 in 2016. It expects to deliver around 760-764 commercial carriers in 2017 and surpass its 748 deliveries in 2016.


After experiencing a slowdown in orders for new jetliners, Boeing has concentrated on streamlining plants to reduce costs and increase profits. The company also took advantage of the lower cost of parts for its 787 jet as the plane hit crucial production milestones, as it delivered its 500th 787 jet in December.


CEO Dennis Muilenburg said an increase in cost-savings and productivity was behind the company's strong performance and revenue guidance. He assured that the progress will not slow down in these aspects.


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Australia Q4 Producer Prices Climb 0.5%





Final demand producer prices in Australia advanced 0.5 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Friday.


That was in line with expectations and up from 0.3 percent in the third quarter.


On a yearly basis, final demand producer prices added 0.7 percent. That also matched expectations and was up from 0.5 percent in the three months prior.


Domestic prices were up 0.7 percent on quarter and 1.2 percent on year, while import prices fell 0.6 percent on quarter and 3.6 percent on year.


The gains were mainly due to rises in the prices received for building construction (+0.7 percent), petroleum refining and petroleum fuel manufacturing (+12.5 percent) and accommodation (+5.3 percent).


They were offset by falls in the prices received for electronic equipment manufacturing (-1.5 percent), professional and scientific equipment manufacturing (-2.1 percent) and other machinery and equipment manufacturing (-1.8 percent).


Intermediate demand producer prices were up 0.6 percent on quarter and 1.0 percent on year in Q4.


The gains were mainly due to rises in the prices received for petroleum refining and petroleum fuel manufacturing (+10.2 percent), coal mining (+53.3 percent) and 0il and gas extraction (+7.1 percent).


They were offset by falls in the prices received for basic polymer manufacturing (-6.1 percent), professional and scientific equipment manufacturing (-3.5 percent) and rental and hiring services (-0.7 percent).


Preliminary demand producer prices picked up 0.6 percent on quarter and 0.9 percent on year in the fourth quarter.


The gains were mainly due to rises in the prices received for petroleum refining and petroleum fuel manufacturing (+11.0 percent), coal mining (+53.4 percent) and oil and gas extraction (+6.7 percent).


They were offset by falls in the prices received for pharmaceutical and medicinal product manufacturing (-13.6 percent), professional and scientific equipment manufacturing (-5.9 percent) and basic polymer manufacturing (-6.0 percent).


Also on Friday, the bureau said that export prices in Australia surged 12.4 percent on quarter in the fourth quarter of 2016. That exceeded forecasts for 12.1 percent and was up sharply from 3.5 percent in the third quarter.


Import prices added 0.2 percent on quarter - beneath forecasts for 0.4 percent following the 1.0 percent contraction in the three months prior.


On a yearly basis, export prices jumped 12.4 percent, while import prices sank 4.6 percent.


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Dollar Climbs as Focus on U.S. GDP





The dollar inched up and rebounded from a seven-week low on optimism regarding the U.S. economic outlook and corporate earnings, however the protectionist policies of U.S. President Donald Trump raised unease for global trade. The dollar index was last at 100.47. The index made a rebound overnight, after slipping to a seven-week low of 99.793.


U.S. equities and Treasury yields have increased in the past few weeks, driven by the upbeat U.S. economic outlook and Trump's indications of raised public spending, but concerns on potentially new barriers have added pressure to the dollar in the last two weeks. The U.S. currency is on course to weaken 0.2 percent against the basket of currencies of its trade-weighted rivals for the week. Investors are concerned about Trump's plans to build a U.S-Mexican border wall to prevent illegal immigration. The Mexican peso weakened more than 0.5 percent versus the dollar after reports of the border tax.


The dollar last fell 0.1 percent against the Japanese currency to 114.40 yen. The greenback rebounded overnight from a low of 113.045 to 114.860, climbing 1.1 percent. The euro was last at $1.0681 versus the dollar, after falling from the day's peak of $1.0766, a level near a seven-week peak.


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Fxwirepro: Usd/thb Rejects Key Resistance at 35.33, Good to Sell on Rallies





USD/THB is currently trading around 35.25 marks.
It made intraday high at 35.32 and low at 35.25 marks.
Intraday bias remains bearish till the time pair holds key resistance at 35.33 marks.
On the top side key resistances are seen at 35.33, 35.41, 35.67, 35.74, 35.84, 35.93, 36.01, 36.08, 36.39 and 36.66 marks respectively.
Alternatively, a daily close below 35.29 will drag the parity down towards key supports around 35.18, 35.04, 34.83, 34.64, 34.51 and 34.20 marks respectively.
We prefer to take short position in USD/THB around 35.28, stop loss 35.41 and target of 35.04.


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