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U.S. Dollar Recovers Slightly Against European Majors
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The U.S. dollar recouped from some of its early losses against European major currencies in the Asian session on Monday.
The greenback is now trading at 0.9288 against the franc, 1.3276 against the euro and 1.5378 against the pound, recovering from its early lows of 0.9269, 1.3293 and 1.5403, respectively.
News are provided by InstaForex.
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Singapore Dollar Off 11-day Low Against U.S. Dollar
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The Singapore dollar recovered from its early low against the U.S. dollar in Asian deals on Tuesday.
The Singapore dollar is now trading at 1.2683 against the greenback, off an early 11-day low of 1.2703. The pair closed Monday's trading at 1.2671.
News are provided by InstaForex.
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Australia's Private Sector Credit Growth Quickens In June
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Australia's private sector credit increased at a slightly faster pace in the month of June, a report from the Reserve Bank of Australia showed Wednesday.
Total credit provided by banks to the private sector increased 0.4 percent sequentially in June, after recording a 0.3 percent gain in May.
Credit provided to the housing market moved up 0.4 percent month-on-month, and other personal credit grew by 0.2 percent. There was a 0.5 percent monthly growth in business credit during the month..
On an annual basis, total credit increased 3.1 percent in June, a tad faster than the 3 percent growth seen in the previous month.
The report further noted that Australia's broad money supply increased 0.4 percent on a monthly basis in June, as it did in the previous month. The intermediate, or M3, money supply also logged a 0.4 percent sequential increase during the month.
News are provided by InstaForex.
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Russia Manufacturing Contracts For First Time Since 2011
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Russia's manufacturing activity contracted in July for the first time since August 2011, a survey compiled by Markit Economics showed Thursday.
The HSBC Purchasing Managers' Index fell to 49.2 from June's four-month high of 51.7. A reading below 50 suggests contraction.
It was the first negative reading since August 2011, and the lowest figure since December 2009. Central to the overall deterioration was a flat trend in new orders.
A lack of incoming new work in July led to a drop in production, the first such fall since July 2009. Input prices rose at the fastest rate in seven months. Output price inflation also hit a seven-month high, but remained modest overall.
News are provided by InstaForex.
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Research: Usd/jpy Review
Quotes from RBC Capital Markets:
-USD/JPY rallied as high as 99.70 overnight to cap a 200pt 24-hour rally. Spot had slipped 30pts at the time of writing.
News are provided by InstaForex.
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Amended: Malaysia's June Exports Fall Less Than Forecast
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Corrects headline and introduction
Malaysia's exports declined in June mainly due to reduced shipment of electronic products, official data revealed Monday.
Exports were down 6.9 percent from the previous year, the Department of Statistics said. The rate of decline was less the expected 7.4 percent drop. There were marked reduction in exports of electronic products, optical and scientific equipment and palm oil.
On the other hand, imports grew 1.3 percent. It was forecast to rise by 4.8 percent. Imports of intermediate goods increased 3.5 percent and consumption goods rose 2.4 percent.
On a monthly basis, exports advanced 1.7 percent to MYR 56.75 billion, while imports dropped 0.9 percent to MYR 52.43 billion. As a result, the trade surplus totaled MY.
News are provided by InstaForex.
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Japan Leading Index Falls In June
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Japan's leading index slipped in June, reversing a rising trend seen since December 2012, preliminary data from the Cabinet Office showed Tuesday.
The leading index that is applied to assess future changes in the direction of the economy, declined more than expected to 107 in June from 110.7 in May. Economists had forecast the index to drop to 107.3.
Suggesting that the economy is in a contraction phase, the coincident index fell to 105.2 from 106 in May. The reading expected for June was 105.1.
Meanwhile, the lagging index, which measures past performance of the economy, improved to 110.6 from 110.1 a month ago.
News are provided by InstaForex.
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Indian Rupee Declines Against U.S. Dollar
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The Indian rupee slipped against the U.S. dollar in early deals on Wednesday.
The rupee declined to 61.3625 against the greenback, staying closer to a new record low of 61.81 hit on Tuesday. The pair ended yesterday's trading at 60.7905.
News are provided by InstaForex.
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Singapore Dollar Strengthens To 10-day High Against U.S. Dollar
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The Singapore dollar firmed against the U.S. dollar in the Asian session on Thursday.
The Singapore dollar climbed to a 10-day high of 1.2629 against the greenback, compared to yesterday's closing quote of 1.2670. The Singapore dollar rises further, it may probably face resistance around the 1.26 level.
News are provided by InstaForex.
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Yen Little Changed Following Consumer Confidence Index Japan's consumer confidence index for July has released at 1:00 am ET Friday. The yen changed little against other major currencies after the data. The yen is now trading at 96.40 against the greenback, 149.87 against the pound, 104.88 against the franc and 129.06 against the euro. News are provided by InstaForex.
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Singapore Dollar Off Near 2-month High Against U.S. Dollar The Singapore dollar that spiked up the U.S. dollar on better-than-expected second quarter GDP data in early Monday Asian deals retreated shortly thereafter. Singapore's gross domestic product spiked 15.5 percent in the second quarter of 2013 compared to the previous three months, the Ministry of Trade and Industry said in today's revised report. That was even higher that last month's advanced estimate that called for a 15.2 percent jump. It follows the downwardly revised 1.7 percent increase in the first quarter. On a yearly basis, GDP was up 3.8 percent - up slightly from 3.7 percent in the estimate, and sharply higher that the 0.2 percent gain in Q1. The Singapore dollar is now trading at 1.2621 against the greenback, off early high of 1.2559 in nearly 2 months. The pair finished last week's trading at 1.2574. News are provided by InstaForex.
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Euro Steady Ahead Of German CPI And WPI Data
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German final consumer price inflation and wholesale price index for July are due at 2:00 am ET Tuesday. Ahead of these reports, the euro held steady against other major currencies.
As of 1:55 am ET, the euro was worth 1.3311 against the greenback, 129.54 against the yen, 0.8609 against the pound and 1.2327 against the franc.
News are provided by InstaForex.
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Malaysian Ringgit Slides To 2-1/2-year Low Against U.S. Dollar
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The Malaysian Ringgit lost ground against the U.S. dollar in the Asian deals on Wednesday.
The ringgit touched 3.2725 against the greenback, a level not seen since March 2011. If the ringgit extends slide, it may face support around the 3.30 area. At yesterday's close, the pair finished trading at 3.2585.
News are provided by InstaForex.
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Chart Focus: Dxy Readies for Channel Breakout
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Recent low at trendline support led to sharp rally
2-day shallow pause seen at upper channel line - bullish
Breakout to come - higher highs / higher lows to continue
New high above July high at 84.75 to target long term trendline at 85.7
News are provided by InstaForex.
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NZ Dollar Climbs To Fresh 2-month High Against Greenback The New Zealand dollar continued to creep higher against the US dollar on Friday morning in Asia, rising to 0.8114, its strongest level since June 14. The next likely resistance for the kiwi-greenback pair is seen around the 0.8135/40 area.
News are provided by InstaForex.
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Chart Focus: Usd/krw more Upside Seems Likely
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Tues saw shooting star candle but likely not meaningful
Bulls likely to test key resistance at long term trendline at 1,132
Only daily closes below 1,109 support shelf would change bullish view
Holding above trendline would see quick move to retest June high
News are provided by InstaForex.[/URL]
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Australian Dollar Jumps To More Than 2-week High Against NZ Dollar The Australian dollar lifted further against the NZ dollar in Asian deals on Thursday. The aussie approached 1.1480 against the kiwi for the first time since August 5. Further extension of bullish trend may see the aussie finding resistance around the 1.155 level. The pair was worth 1.1431 at yesterday's close. News are provided by InstaForex.
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Yen Off Early Asian Session Lows Against Majors
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The Japanese yen that lost ground in the early Asian session on Friday erased some of its losses in late trading.
The yen rose to 131.89 against the euro and 106.86 against the Swiss franc, up from early Asian session's near 1-month lows of 132.35 and 107.19, respectively.
The Japanese currency that fell to fresh 2-week lows of 154.45 against the pound and 99.11 against the dollar bounced back to 154.03 and 98.86, respectively by 1:45 am ET.
News are provided by InstaForex.
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Chart Focus: Eur/gbp Bulls may be Back in Driving Seat
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Bullish daily candle on Friday closed well above broken trendline
0.859 has been key level since February - daily close above
Close was right on 50 day MA - closes above should be watched for
Bulls look to be regaining their strength after recent selloff
News are provided by InstaForex.
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Malaysian Ringgit Slides To More Than 3-year Low Against U.S. Dollar
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The Malaysian Ringgit drifted lower against the U.S. dollar in Asian deals on Tuesday.
The ringgit touched 3.3310 against the greenback, a level not seen since June 2010. The ringgit may likely target support at 3.34 area. The pair finished Monday's deals at 3.3050.
News are provided by InstaForex.
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Chart Focus: Eur/aud- 1.5000 Caps, Close Above Targets 1.5245
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Syrian uncertainty fuelled AUD risk selling - opened +0.67%
Extended to 1.4995 early in Asia on unfounded Syrian rumours
Ma's edge higher with upper Bolli - uptrend regaining traction
1.5000 profit taking/option activity capped for a second time in Aug
Close above targets 1.5245 - 38.2% of 2008/2012 fallhttps://mail.google.com/mail/images/cleardot.gif
News are provided by InstaForex.
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[B]Chart Focus: Aud/nzd Witnesses Modest Bounce on Capex[/B]
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Opens -0.5% & extended to 1.1440 pre Aus Capex
Small bounce on generally stronger than expected Capex
Momentum studies are cresting - ma's % Bolli's positive
1.1389, 61.8% of Aug's rise is initial support
1.1465 NY close is initial resistance - bias higher
News are provided by InstaForex.
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Yen Little Changed After Japan's Housing Starts, Construction Orders Datal
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Following the release of Japan's housing starts and construction orders data for the month of July at 1:00 am ET, the yen was little changed against its major counterparts.
As of 1:05 am ET, the yen was trading at 130.13 against the euro, 105.58 against the Swiss franc, 98.25 against the US dollar and 152.42 against the pound.
News are provided by InstaForex.
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Chart Focus: Usd/sgd New Lows Seen in Early Trade
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Monday morning sees new low below Friday's low - bouncing since
Last Wed saw bearish daily candle close below 1.28 - short signal
Double top seen recently at 1.286 - same as July's high
Pullback likely has much lower to go - initial support seen at 1.255 area
Long term trendline / July-Aug lows near this area - cover shorts there
News are provided by InstaForex.
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RBA Keeps Cash Rate Unchanged At Record-Low
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The Reserve Bank of Australia on Tuesday decided to retain its benchmark cash rate at record-low of 2.5 percent, in line with economists' expectations.
At the meeting, the Reserve Bank Board noted that the setting of the monetary policy remained "appropriate".
The Board said it will "continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the target."
In a statement, RBA Governor Glenn Stevens said the exchange rate may depreciate further overtime and this would help to foster a rebalancing of growth in the economy.
"The easing in monetary policy since late 2011 has supported interest-sensitive spending and asset values, and further effects can be expected over time," Stevens said.
News are provided by InstaForex
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Hong Kong Dollar Slips To 6-day Low Against Greenback
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The Hong Kong dollar lost ground against its U.S. counterpart on Wednesday in Asia, slipping to a 6-day low of 7.7562, down 0.01 percent from Tuesday's closing value of 7.7547.
If the Hong Kong currency extends downtrend, it may find support around the 7.7570 level.
News are provided by InstaForex.
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Yen Declines To Multi-week Low Against U.S., Canadian Dollars
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The Japanese yen continued its downtrend against the U.S. and Canadian dollars in late Asian deals on Thursday.
The yen fell to 99.98 against the greenback, a level not seen since July 25.
The yen touched more than a 4-week low of 95.31 against the loonie, compared to Wednesday's close of 95.05.
The next downside target for the yen lies around 100.8 against the greenback and 96.00 against the loonie.
News are provided by InstaForex.
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Yen Strengthens After Japan's July Leading Index, BoJ Monthly Report
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The yen drifted higher against its major counterparts following a report showed that Japan's leading economic index improved from the previous month's reading. The Bank of Japan monthly report also lifted the yen.
As of 1:05 am ET, the Japanese currency was trading at 130.98 against the euro, 105.68 against the Swiss franc, 155.70 against the pound and 99.73 against the US dollar.
The yen also strengthened against the resource-linked currencies, rising as high as 91.05 against the Australian dollar, 95.12 against the Canadian dollar and 78.90 against the New Zealand dollar.
News are provided by InstaForex
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Franc Little Changed Amid Swiss Unemployment Rate
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At 1:45 am ET Monday, Swiss unemployment rate for August has released. The franc changed little against other major currencies after the data. The franc is now trading at 0.9385 against the greenback, 1.4681 against the pound, 1.2363 against the euro and 106.18 against the yen.
News are provided by InstaForex.
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Philippine Export Growth Slows In July
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Philippine export growth slowed in July, data published by the National Statistics Office showed Tuesday.
Exports rose 2.3 percent year-on-year to $4.836 billion in July, slower than 4.1 percent increase in June. Month-on-month, exports grew 7.7 percent.
Exports of electronic products, which accounted for 39.1 percent of the total exports revenue in July, increased 11.2 percent from a year earlier.
However, electronic product shipments slipped 5.7 percent month-on-month.
News are provided by InstaForex.
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Chart Focus: Dxy-Major 81.65/70 Support a Base at Present
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Opens little changed - early JPY led profit taking dip short lived
Inside day - consolidates Mon's losses above 81.70, 50% of Aug/Sep rise
Momentum studies edge lower - ma's cresting - Bolli's positive
Conflicting signals usually result in choppy range trading
200 & 20 dma's & 81.67/70 & offshore 81.98 high initial sup/res
News are provided by InstaForex
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Research: Eu Rates Review
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Quotes from Societe Generale Cross Asset Research:
-EU: 10y swaps at 2.29% trading in a tight 4 bps range in Asia. Pipeline issuance for swaps seem to be touch slower with sovereigns competing for investors cash this week. The 2y10y spread crosses 180bps barrier, steepest since Jan 2012.
News are provided by InstaForex.
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German Manufacturing Employment Rises In July
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Germany's manufacturing employment increased in July from a year earlier, data from the Federal Statistical Office showed Monday.
The number of employees increased 0.5 percent year-on-year to 5.3 million. The greatest number of additions were reported by the automobile manufacturing industry, data showed.
The number of paid working hours increased 3.2 percent annually to 704 million hours. Employee earnings rose 4.9 percent year-on-year.
News are provided by InstaForex.
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Indian Rupee Slides To 4-day Low Against U.S. Dollar
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The Indian rupee drifted lower against the U.S. dollar in early deals on Tuesday.
The rupee reached a 4-day low of 63.5160 against the greenback, compared to Monday's close of 63.2960. The rupee may probably face support around the 65.3 level.
News are provided by InstaForex.
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Research: Short-Term Outlook for Inr
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Quotes from Standard Chartered:
-We have a short-term Neutral FX rating on the INR. The crucial FOMC outcome may lead to considerable US dollar volatility ahead of this. Also, in his 4 September speech, Governor Rajan mentioned the possibility of further FX stabilisation measures being announced at the monetary policy meeting. The absence of such measures could dent the INR optimism that has been visible since his appointment.
News are provided by InstaForex.
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Swiss Franc Advances To 1-week High Against Pound
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The Swiss franc gained ground against the British pound in Asian deals on Thursday.
The franc reached a weekly high of 1.4697 versus the pound, compared to Wednesday's close of 1.4725. The next upside target for the franc is seen around the 1.46 level.
News are provided by InstaForex.
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Options- Market Snapshot-Opening Comments
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Quiet day in Asia as spot markets consolidate post FOMC moves Volumes have found support after initial post FOMC sell off to long term lows
JPY related volumes saw decent demand from lows on topside covering
News are provided by InstaForex
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Taiwan's Unemployment Rate Edges Up In August Unemployment rate in Taiwan increased marginally in August, data from the Director-General of Budget, Accounting and Statistics showed Monday. The seasonally adjusted jobless rate rose to 4.19 percent in August from 4.18 percent in July. Economists had forecast an unemployment rate of 4.2 percent. The unadjusted rate was 4.33 percent, up from 4.25 percent in July. The number of unemployed persons in the country rose to 497,000 from 487,000 in the preceding month. The number of employed persons also increased slightly, to 11 million from 10.98 million in July.
News are provided by InstaForex
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Singapore Dollar Slightly Off 6-day Low Against U.S. Dollar
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The Singapore dollar has come off slightly from early low against the U.S. dollar in Asian deals on Tuesday.
The Singapore dollar is now worth 1.2528 against the greenback, up from early 6-day low of 1.2542. The pair ended deals at 1.2499 on Monday.
News are provided by InstaForex.
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Malaysian Ringgit At 6-day Low Against U.S. Dollar
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The Malaysian Ringgit weakened against the U.S. dollar in Asia on Wednesday.
The ringgit that closed yesterday's deals at 3.2160 against the greenback fell to 3.2333, marking a 6-day low. On the downside, the ringgit may find support at the 3.24 level.
News are provided by InstaForex.