Thread: Forex News from InstaForex

Twitter Shares Sink as Potential Buyers Reportedly Lose Interest





Twitter Inc.'s shares slumped more than 14% after a Bloomberg report stated that all of its top potential suitors has lost interest in making a bid for the social media company.


The firm's shares, which jumped last month after rumors of a possible acquisition by companies including Google, lost $2.82 or 14% down to $17.03 during early trading following Bloomberg's report that was Twitter unlikely to receive any takeover offers.


Salesforce, Google owner Alphabet Inc., and Walt Disney which had been working with banks on a potential acquisition of the social media firm, had reportedly abandoned plans to proceed with a bid, according to Bloomberg.


Twitter's shares have already seen a steep decline at the end of the previous week after technology news website Recode reported that Google and Apple had no interest in buying the struggling company which put itself up for sale last month.


Sillicon Valley tech company Salesforce has been perceived as the top potential buyer after its chief executive Mark Benioff had publicly voiced his interest in the firm, but his investors raised their doubts regarding the deal. The speculation also caused Salesforce's shares to sink, but rose back to their former level after Bloomberg's report that it did not press ahead with a bid.


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Fxwirepro: Usd/krw Hits Fresh 4-Week High at 1,124, Faces Strong Resistance at 1,127





USD/KRW is currently trading around 1,123 levels.
It made intraday high at 1,124 and low at 1,123 marks.
Intraday bias remains bullish till the time pair holds key support at 1,117 levels.
A daily close above 1,127 will drag the parity higher towards key resistances at 1,142, 1,152, 1,162, 1,176, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.
On the other side, a sustained close below 1,117 will test key supports at 1,107/1,101/1,089/1,078/1,063/1,044 levels respectively.
In addition, South Korea’s Kospi was trading around 0.12 percent higher at 2,034.26 points.
South Korea’s September unemployment rate increase to 4.0 % vs previous 3.8 %.
We prefer to go long on USD/KRW only above 1,124, stop loss 1,111 and target 1,142.


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Samsung Announces Total Discontinuation of Galaxy Note 7 Production Over Safety Concerns





Crisis-hit Samsung Electronics Co. announced on Tuesday that it is permanently halting the production and sale of its flagship Note 7 smartphone, less than two months after its launch over persisting battery safety issues.


The tech giant stated in a filing with South Korean regulators that has decided to scrap the Note 7 after a new wave of reports of replacement devices overheating and catching fire, which were supposedly safe and free from battery defects. The move caused Samsung's share to tumble 8%, clearing almost $20 billion off the smartphone maker's market value and recording its biggest one-day decline since 2008.


The decision to stop Note 7 production comes after the South Korean conglomerate had halted sales and exchanged of the device earlier on Tuesday and called on customers to stop using the smartphone due to the reported safety issues.


Analysts state that permanently pulling note 7 off the shelves could cost the company up to $17 billion and could raise doubts about Samsung's quality control.


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New Zealand Consumer Confidence Spikes In October - ANZ





Consumer confidence in New Zealand jumped in October, the latest survey from ANZ showed on Thursday.


The bank's consumer confidence index jumped 1.6 percent on month to a score of 122.9. That follows the 2.8 percent spike in September to 121.0.


The index score is the highest reading since the middle of last year, ANZ said, adding that the increase was driven by optimism over the direction of the economy.


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U.S. Stocks Flat After Fed Minutes





The majority of the U.S. stocks were flat while the Federal Reserve minutes gave investors some indication as to when the next-rate increase would be. The minutes from the Fed's September meeting has shown that several of the policy makers called for the rate hike as “relatively soon”, however members disagreed on the timing of the move.


The Dow Jones Industrial Average was up 0.1 percent to 18144.20. The S&P inched up 0.1 percent to 2139.18 and the Nasdaq Composite fell 0.1 percent to 5239.02. Real-estate stocks in the S&P 500 climbed 1.3 percent as utility stocks advanced by one percent. Investors are currently turning their attention to the earnings.


Alcoa declined by 2.9 percent to $27.11 a day. Illumina was down two percent to 136.18. Health-care stocks in the S&P 500 drove declines for the second consecutive session as the Nasdaq Biotechnology Index retreated by 2.5 percent. The yield on the 10-year U.S. Treasury note increased to 1.778 percent after investors found meager hints in the Fed minutes to confirm expectations of a rate hike in December.


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Japan M2 Money Stock Climbs 3.6% In September





The M2 money stock in Japan was up 3.6 percent on year in September, the Bank of Japan said on Friday - coming in at 943.2 trillion yen.


That followed the 3.3 percent gain in August. The M3 money stock advanced an annual 3.1 percent to 1,265.1 trillion yen after gaining 2.8 percent in the previous month.


The L money stock gained 1.8 percent to 1,653.7 trillion yen after picking up 1.6 percent a month earlier.




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Verizon Says Yahoo Email Data Breach Could Sink Deal





Verizon Communications Inc.'s attorney Craig Silliman told reporters that the U.S. wireless company has a rational basis to think Yahoo Inc.'s recent disclosure of a massive data breach of more than 500 million of its email accounts represented a material impact that could allow Verizon to pull out of its $4.38 billion deal to acquire the tech firm.


General Counsel Silliman told press people during a roundtable in Washington that the email breach could activate a clause within the agreement that would allow the Verizon to change the terms of the takeover or not press on with it. The counsel, who has been leading Verizon's review of the situation, refused to comment whether discussions are being held to renegotiate the acquisition price.


The takeover deal has a clause that states Verizon can withdraw from the agreement if a new development which could have a tangible and adverse effect on the business surfaces.


A Yahoo spokesperson expressed the company's confidence in Yahoo's value and that they will continue to make progress towards integration with Verizon.


Yahoo's shares closed down 1.75% at $41.62 while Verizon's shares were flat at $50.29, inching down 0.02%.




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UK House Prices Climb 0.9% In October - Rightmove





The average asking price for a house in the United Kingdom was up 0.9 percent on month in October, property tracking website Rightmove said on Monday - coming in at 309,122 pounds.


That follows the 0.7 percent increase in September.


On a yearly basis, house prices jumped 4.2 percent, up from 4.0 percent in the previous month.


The number of sales agreed jumped 6.0 percent on year.


By region, total available stock in the south jumped an annual 16 percent, while stock in the north dropped 11.0 percent.


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Oil Prices Decline on Rising U.S. Oil Drilling Activity





The increase in the number of rigs in the U.S. and a slowdown in global economic growth which could undermine fuel appetite pulled down oil prices on Monday.


U.S. WTI crude futures were down 32 cents from their last close and were trading at $50.03 per barrel. A report on Friday showed that U.S. drillers added four rigs last week, marking the 16th straight week that drillers did not cut back, suggesting more production to come. Traders state report weighed down on the WTI


Meanwhile, the international Brent crude oil futures also declined, losing 20 cents from their last settlement down to $51.75 per barrel, weighed by elevated supply from the OPEC, which hit a record high of 33.6 million barrels per day last month.


The record output from OPEC, weak global GDP forecasts and still elevated stocks caused Bernstein Energy to lower and flatten their oil price outlook in a note to their clientele on Monday. It lowered its Brent estimate to $60 per barrel next year from the initial projection of $70 per barrel, and revised its 2018 prediction to $70 per barrel from the original $80 per barrel estimate.


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Fxwirepro: Usd/krw Rejects Key Resistance at 1,142, Bias Remains Neutral





USD/KRW is currently trading around 1,131 levels.
It made intraday high at 1,133 and low at 1,130 marks. Intraday bias remains neutral till the time pair holds key resistance at 1,142 levels.
A daily close above 1,142 will drag the parity higher towards key resistances at 1,152, 1,162, 1,176, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.
On the other side, a sustained close below 1,128 will test key supports at 1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
In addition, South Korea’s Kospi was trading around 0.28 percent higher at 2,033.46 points. We prefer to go long on USD/KRW around 1,130, stop loss 1,117 and target 1,142/1,152.


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