Japan GDP Jumps 2.2% On Year In Q3
Japan's gross domestic product spiked 2.2 percent on year in the third quarter of 2016, the Cabinet Office said in Monday's preliminary report.
That was well above forecasts for a gain of 0.8 percent following the 0.7 percent increase in the three months prior.
On a quarterly basis, GDP expanded 0.5 percent - also topping expectations for 0.2 percent, which would have been unchanged from Q2.
Nominal GDP was up 0.2 percent versus forecasts for a decline of 0.1 percent following the 0.3 percent gain in the previous three months.
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Thread: Forex News from InstaForex
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14-11-2016, 03:09 AM #1331
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14-11-2016, 05:10 AM #1332
Mexican Peso Recovers as Trump Eases Campaign Pledges
The Mexican peso rose over one percent to about 20.64 pesos per U.S. dollar in Asian trading as U.S. President-elect Donald Trump seemed to abate some of his more controversial campaign pledges that were perceived to have a negative impact on the Mexican economy.
The peso has dropped to a historic low following Trump's stunning election win last week on concerns that he will seek to follow through with his campaign platforms to lower trade and to establish a wall between the two nations, while also deporting around 11 million people living in the U.S. without proper documents. Trump's upset has hit Mexican assets hard, as the peso plummeted to a low of over 21 pesos against the greenback, prompting analysts to also lower their economic outlook for the nation.
Trump backpedaled on his promise to construct a border wall on Sunday, stating some areas could instead have fenced segments, and stated that he would seek to deport around three million immigrants in the nation who are proven to have criminal records.
To date, the central bank of Mexico, who will hold its next meeting later this week, has not stepped in to stem the peso's decline.
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15-11-2016, 03:27 AM #1333
Fxwirepro: Usd/sgd Rejects Key Resistance at 1.4179, Short Term Trend Reversal Likely
USD/SGD is currently trading around 1.4124 marks.
It made intraday high at 1.4151 and low at 1.4109 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.4179 marks.
A sustained break above 1.4179 will test key resistances at 1.4228, 1.4336 and 1.4443 levels respectively.
Alternatively, a consistent close below 1.4126 will drag the parity down towards key supports at
1.4072/1.3970/1.3819/1.3775/1.3704/1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current down side movement is short term trend correction only.
Singapore will release retail sales data at 0500 GMT.
We prefer to go short on USD/SGD around 1.4125 with stop loss at 1.4179 and target of 1.4072/1.3970.
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15-11-2016, 05:16 AM #1334
Apple Extends Recent Losses After iPhone Sales Warning
Apple's stocks continued its losing streak on Monday after issuing a warning to investors that sales of its iPhones could decline if President-Elect Trump enacts his campaign threat to slap new tariffs on China-imported goods.
The tech giant's stock lost 2.5% in the latest session, bringing its losses since last week's election to around 5%.
An editorial article published in the Chinese government-supported Global Times cautioned of eye-for-eye reprisal should Trump push through his promise to impose 45% tariffs on all products and goods imported from China, adding to the growing concerns of Apple investors.
The op-ed stated threatened that Boeing orders will be substituted by Europe's Airbus, U.S. automobile and iPhones sales in the Chinese market will decline and imports of U.S. soybean and corn imports will be suspended.
The smartphone maker is one of the several major tech stocks such as Amazon, Facebook, and Alphabet that has suffered losses since Tuesday's elections as investor relocate their funds into financial and public works firms that are speculated to highly benefit from deregulation and infrastructure spending under President-elect Trump's administration.
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16-11-2016, 05:39 AM #1335
Gold Prices Fluctuate, Jolted by Dollar
Gold prices fluctuated between gains and losses due to the weaker U.S. dollar and climbing stock markets. Spot gold fell 0.02 percent at $1,225.08 per troy ounce.
The precious metal was near above a five-month low with gold declining sharply as equity markets and other commodities gained after the election of Donald Trump last week. Gold prices await the timing of the next rate hike by the Federal Reserve. Fed fund futures implied an 86 percent likelihood of a rate hike in December, according to the CME. Bullion for immediate delivery was up 0.1 percent to $1,223.08 per ounce, according to Bloomberg generic pricing. Holdings in gold-backed exchange-traded funds was down 4.88 metric tons to 1,966.3 tons, as stated in data compiled by Bloomberg.
Other precious metals were mixed. Silver was slightly unchanged at $17.04 per troy ounce. Platinum fell 0.24 percent at $942.24 per troy ounce while palladium rose 0.79 percent at $704.75 per troy ounce.
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17-11-2016, 02:43 AM #1336
Australia Unemployment Rate Steady At 5.6% In October
The unemployment rate in Australia came in at a seasonally adjusted 5.6 percent in October, the Australian Bureau of Statistics said on Thursday.
That was beneath expectations for 5.7 percent and unchanged from the September reading.
The Australian economy added 9,800 jobs in October - again missing expectations for an increase of 15,000 following the loss of 9,800 jobs in the previous month.
The participation rate was steady at 64.4 percent, shy of forecasts for 64.6 percent.
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17-11-2016, 05:16 AM #1337
Cisco’s Disappointing Profit Guidance Sends Shares Lower
Cisco Systems Inc.'s adjusted profit estimate for the present quarter missed analysts' projections as the company's core business continues to struggle with weak demand, sending its shares tumbling by more than 4% in late hours trading.
The company said expects adjusted profit of 55-57 cents per share during the second quarter, falling under analysts' median estimate of 59 cents per share earnings on a $12.33 billion revenue.
The world's biggest networking gear maker has been stepping up its wireless and security divisions to counter the softness in its core switch and routers business, which is also struggling with strong competition from rival companies. Still, the newer business units are not expanding fast enough to offset the declines in its main networking division.
Revenue from the firm's switching business declined by 7% to $3.72 billion during the August-October period.Security business evenue climbed 11% to $540 million while revenue in the wireless unit dropped 2% to $632 million.
Net profit dropped 4.4% to $2.32 billion as revenue declined 2.6% to $12.35 billion, with earnings of 61 cents per share.
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18-11-2016, 02:37 AM #1338
Usd/krw opened at 1181.0, Higher Than implied Ny Ndf Closing
Pair rises up to 1181.5, prints new 5 month high, last at 1180.6
USD bullish after Yellen's testimony hints at Dec rate hike
UST 10y yield climbs to highest since Dec 2015
Pair likely to test stoploss orders above 1200 psychological level
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18-11-2016, 04:48 AM #1339
Gold Slips on Firm Dollar, Yellen Comments
Gold prices dropped to a 5-½ month low as the dollar index reached a 13-1/2 year peak on upbeat U.S. economic data as well as comments by U.S. Federal Reserve Chairwoman Janet Yellen that boosted the chances for increasing rates in December. Spot gold fell 0.8 percent at $1,215.50 per ounce.
U.S. gold futures were down 0.6 percent at $1,216.90 an ounce. Gold moved lower as the greenback climbed to the highest since 2003 against a basket of six major currencies. Spot gold has lost nearly nine percent from its six-week high hit briefly following the U.S. election on Nov. 9. Latest data has shown the largest rise in U.S. consumer prices in six months and unemployment claims dropped to a 43-year low.
Among other precious metals, palladium climbed as much as 1.7 percent to $734.40, the highest since Aug.10. Palladium was down 0.7 percent at $937.60 per ounce and silver fell 1.9 percent to $16.64.
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21-11-2016, 02:42 AM #1340
Japan Has Y496.174 Billion Trade Surplus
Japan had a merchandise trade surplus of 496.174 billion yen in October, the Ministry of Finance said on Monday.
That was shy of expectations for a surplus of 610.0 billion following the downwardly revised 497.6 billion yen deficit in September (originally 498.3 billion).
Exports were down 10.3 percent on year, missing forecasts for a fall of 8.5 percent following the 6.9 percent decline in the previous month.
Imports sank an annual 16.5 percent versus expectations for a decline of 16.1 percent after sliding 16.3 percent a month earlier.
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