Forex News (from InstaForex) - page 158

Toshiba Eyes $8.8 Billion in Chip Unit Stake Deal

Toshiba Corp. is seeking to gain a minimum of 1 trillion yen or $8.8 billion from the sale of a majority share in its memory chip business and will attempt to finish the deal by March 2018, according to sources.

The sale comes as the Japanese conglomerate issued a warning of a $6.3 billion writedown that will hit its U.S. nuclear business earlier this month. As it looks for a buffer against any fresh financial setbacks, Toshiba states it is now ready to put up for sale a majority stake or even all of the NAND memory unit.

The deal is seen to result in Toshiba ceding is majority hold over the unit which could have a market valuation as high as 2 trillion yen. Sources said the company wants to carefully consider its options and negotiate the best price before mapping a final timetable, although it is aiming to reach a deal before the end of the next financial year.

The company has not yet finalized the size of the stake to be put up for sale and is centering its focus on the total amount that can be raised. The person privy to the matter added that Toshiba would like to maintaining a one-third holding that would allow it a certain position of control over the business.

Toshiba's shares were up 2% in morning trade.

News are provided byInstaForex.

Fxwirepro: Eur/krw Hovers Around Key Support at 1,200 Mark, sustained Close Below Targets 1,184

EUR/KRW is currently trading around 1,201 mark.

Pair made intraday high at 1,202 and low at 1,199 levels.

Intraday bias remains neutral till the time pair holds key support at 1,200 mark.

A daily close below 1,200 will drag the parity down towards key supports around 1,184, 1,178 and 1,163 marks respectively.

Alternatively, a sustained close above 1,200 will take the parity higher towards key resistances around 1,209, 1,221, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.

Seoul shares open up 0.17 pct at 2106.42.

We prefer to take short position in EUR/KRW only below 1,200, stop loss at 1,210 and target of 1,190/1,184.

News are provided byInstaForex.

Gold Steady as Investors Await for Clues on U.S. Rate Hikes

Gold prices were steady on the latest weaker-than-expected U.S. data, after dropping one percent on restored expectations of U.S. interest rate hikes in March that pushed the dollar higher. Spot gold was stable at $1,236 per ounce while U.S. gold futures settled 0.1 percent lower at $1,237.

Traders are currently eyeing the release of minutes from the Federal Reserve's Jan. 30-Feb. 1 meeting. President Donald Trump's address to the Congress on Feb. 28, will also be eyed as analysts and traders hope that it will provide more details on infrastructure spending and tax cuts. "Gold is capped by the likelihood that U.S. monetary policy will be tighter at some stage, potentially in March," according to Societe Generale analyst Robin Bhar. Switzerland's gold exports reached a 10-month low in January, as stated in the data from the Swiss customs bureau, due to declines in shipments to China and Hong Kong.

In other metals, silver dropped 0.4 percent to $17.94 per ounce. Platinum shed 0.3 percent to $997.95 while palladium climbed 0.6 percent to $776.75.

News are provided byInstaForex.

Fxwirepro: Aussie falls Against Major Peers As Australia?s Private Capital Expenditure Data Fails to Meet Expectations

AUD/NZD is currently trading around 1.0673 marks.

Pair made intraday high at 1.0721 and low at 1.0673 marks.

Intraday bias remains bearish till the time pair holds immediate resistance at 1.0748 marks.

A daily close below 1.0710 will take the parity down towards key supports around 1.0648, 1.0594, 1.0552, 1.0516, 1.0460, 1.0412, 1.0370, 1.0326, 1.0237, 1.0184, 1.0109 and 1.0053 marks respectively.

On the other side, a sustained close above 1.0710 will drag the parity higher towards key resistances at 1.0735/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) levels respectively.

Australia?s Q4 capital expenditure increases to -2.1 % (forecast -0.4 %) vs previous -3.3 % (revised from -4 %).

Australia?s Q4 building capex decreases to -4.1 % vs previous -3.6 % (revised from -5.7 %).

Australia?s Q4 plant/machinery capex increases to 0.4 % vs previous -3 % (revised from -1.9 %).

News are provided byInstaForex.

Dollar Recovers After Initial Fed Minutes Jolt

The dollar rebounded from overnight lows and steadied, as the market digested the minutes of the Federal Reserve's last policy meeting, which held the possibility of a March rate hike in play. The minutes of the Fed's Jan. 31-Feb. 1 meeting noted several policy makers saying that it was appropriate to hike interest rates again ?fairly soon?, given that the jobs and inflation data come in line with expectations.

Dollar bulls were disappointed as they were hoping for a more hawkish tone from Fed Chair Janet Yellen. The greenback also weakened as policymakers brought up the downside economic consequences of a firmer dollar. The dollar index versus a basket of six major currencies climbed from overnight losses and was 0.15 percent higher at 101.380. The greenback dropped to a low of 112.905 yen overnight in an automatic response to the Fed minutes meeting but eventually pulled back to 113,420 for a gain of 0.1 percent.

The euro edged down 0.1 percent at $1.0548, as it retreated from a 1-? month low of $1.094 the previous day. Sterling was flat at $1.2450 after slipping the day earlier as latest data showed that the UK business investment declined during the fourth quarter of 2016.

News are provided byInstaForex.

Singapore Industrial Production On Tap For Friday

Singapore will on Friday release January figures for industrial production, highlighting a light day for Asia-Pacific economic activity.

Output is expected to gain 2.8 percent on month and 7.5 percent on year after spiking 6.4 percent on month and 21.3 percent on year in December.

Taiwan will see January figures for unemployment, with the jobless rate expected to ease to 3.8 percent from 3.82 percent in December.

News are provided byInstaForex.

Trump Uncertainty Drives Bitcoin to Historic High

Bitcoin scaled a historic high as investors' risk aversion and impetus to hedge was triggered by the global uncertainty linked to President Donald Trump's policies and due to speculations that the new administration will ease regulations that governing the cryptocurrency.

The digital currency surged 3.1 percent and ended at $1,164.10 in New York trading, beating the record high of $1,137 notched in November 2013.

Prices of the e-currency has been volatile in the previous weeks. It nosedived as low as $789 earlier on January as Chinese regulators imposed stricter management and regulation of the domestic bitcoin exchanges, where global majority of bitcoin trading occurs. It has now remained above the $1,000 level for its longest-ever period, CoinDesk stated.

The latest rally was prompted by the political uncertainty stemming from President Trump's remarks and directives, analysts said. They added that the surge may be due to some investors driving digital currency prices up on hopes that the administration will loosen financial-industry rules and in turn make bitcoin more flexible to utilize.

News are provided byInstaForex.

Australia Q4 Company Operating Profits Soar 20.1%

Company operating profits in Australia climbed a seasonally adjusted 20.1 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Monday.

That easily beat forecasts for an increase of 8.0 percent following the 1.0 percent gain in the previous three months.

Profits spiked 26.2 percent on year.

Company inventories gained just 0.3 percent on quarter in Q4, shy of expectations for 0.5 percent and down from 0.8 percent in the three months prior.

Inventories were up 1.6 percent on year.

Sales of manufacturing goods and services added 0.1 percent on quarter but fell 2.4 percent on year.

Sales in wholesale trade gained 3.1 percent on quarter and 9.0 percent on year.

Wages and salaries dipped 0.5 percent on quarter but climbed 1.0 percent on year.

News are provided byInstaForex.

Samsung Hints at Release of Galaxy S8 Release

Samsung Electronics Co. has hinted on the upcoming release of its Galaxy S8 smartphone and launched new tablets that target video-gamers and professionals as the firm seeks to regain ground lost after its previous disadvantage of pulling out the Note 7. The defeat cost the Korean company an estimated $6 billion and caused a severe blow to the firm.

The Galaxy Tab S3 has a 9.7 inch Amoled screen, quad-stereo speakers and allows users to play 4K video, according to Samsung ahead of the annual Mobile World Congress event in Barcelona. The Galaxy Book, is directed towards professionals, comes in with 10.6-inch and 12-inch models and runs the Windows 10 operating system. Samsung has finally confirmed a March 29 release date for the next smartphone.

For the time being, Samsung will launch the new tablets as well as a new virtual-reality viewer which the company has showed. The tablet portfolio ?is built with premium technology that delivers a productive and versatile experience to consumers,? according to D.J. Koh, the head of Samsung's mobile communications business.

News are provided byInstaForex.

Fxwirepro: South Korean Won Marginally Higher Against Euro on Robust Manufacturing Bsi Index

EUR/KRW is currently trading around 1,197 mark.

Pair made intraday high at 1,199 and low at 1,197 levels.

Intraday bias remains bearish till the time pair holds key resistance at 1,205 mark.

A daily close below 1,198 will drag the parity down towards key supports around 1,191, 1,184, 1,178 and 1,163 marks respectively.

Alternatively, a sustained close above 1,198 will take the parity higher towards key resistances around 1,205, 1,221, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.

Seoul shares open up 0.08 pct at 2087.26.

South Korea?s BOK manufacturing BSI index increases to 79 vs previous 78.

We prefer to take short position in EUR/KRW around 1,199, stop loss at 1,205 and target of 1,184.

News are provided byInstaForex.