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  #1521 (permalink)  
Old 01-18-2017, 01:32 AM
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Fxwirepro: Eur/krw Hits Fresh 4-Week Low at 1,239, Upside Limited



EUR/KRW is currently trading around 1,246 mark.
Pair made intraday high at 1,246 and low at 1,239 levels.
Intraday bias remains neutral till the time pair holds immediate resistance at 1,257 mark.
A consistent close below 1,241 will drag the parity down towards key supports around 1,232, 1,229, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
Alternatively, a sustained close above 1,241 will take the parity higher towards key resistances around 1,257, 1,262, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.
Seoul shares open up 0.09 pct at 2073.77.
We prefer to take short position on EUR/KRW around 1,248, stop loss at 1,257 and target of 1,239/1,232.

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  #1522 (permalink)  
Old 01-18-2017, 03:33 AM
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PM May Outlines Clean Break from EU in Brexit Speech



British Prime Minister Theresa May declared during her anticipated speech that the UK will leave the EU single market when it departs from the European Union, setting the path for a clean break from the 27-nation trading bloc.

May laid out her 12-point plan enumerating Britain's priorities as they seeking a deal with EU during Brexit, which is scheduled to be triggered by the end of March.

The premier said her negotiating priorities includes regaining control of UK's immigration and borders, leaving the European Court of Justice's jurisdiction and ending ties with the customs union, which enables the tariff-free movement of goods and services in the EU region.

The PM said that leaving the market was the inevitable consequence, stating that a 'no deal' was in the interest of Britain compared to a 'bad deal'.

But she assured that the U.K.would look to secure the best possible access to European markets. She also said that she would seek to strike a new trade deal with the customs union.

For the first time, PM May also announced the plan to put the final terms of the Brexit deal to a vote in the houses of the British parliament. This means that members of the parliament could block the deal, causing markets to rally.

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  #1523 (permalink)  
Old 01-19-2017, 01:05 AM
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New Zealand Consumer Confidence Jumps In January - ANZ



Consumer confidence in New Zealand spiked in January, the latest survey from ANZ Bank revealed on Thursday as its index jumped 3.4 percent to a score of 128.7.

That follows the 2.1 percent decline in December to 124.5, and the January reading marks a 21-month high.

Confidence is higher on good news on the labor market, although low inflation persists, ANZ said. The GDP gauge continues to show growth at greater than 4 percent.

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  #1524 (permalink)  
Old 01-19-2017, 03:20 AM
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Gold Prices Drop on Yellen Remarks



Gold prices remained under pressure following Federal Reserve Chair Janet Yellen's remarks that supported gradual U.S. interest rate hikes. Spot gold was little changed at $1,203 an ounce. The bullion previously reached an eight-week peak of $1,218.64, however, it dropped one percent in the earlier session as the dollar firmed.

U.S. gold futures were 0.7 percent lower at $1,203.50 an ounce. Several Fed officials were seen supporting the case for a gradual increase in U.S. interest rates. The precious metal extended losses following the latest release of the Fed's Beige Book which indicated a rise in manufacturing and tight labor markets showing upbeat U.S economic health. According to Capital Economics analyst Simona Gambarini, higher rates will likely add pressure to gold, as it is highly sensitive to increasing interest rates which raise the opportunity cost of holding non-yielding bullion.

Prices of Silver were higher as March silver added 0.7 percent to $17.274 per ounce while palladium shed 0.3 percent to $751 per ounce. In ETF trading, the SPDR Gold Trust retreated 0.6 percent while the iShares Silver Trust edged down 0.1 percent.

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  #1525 (permalink)  
Old 01-20-2017, 01:23 AM
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Fxwirepro: Aud/jpy Breaks Channel Top, Intraday Bias Higher, Stay Long



AUD/JPY has broken major channel top resistance at 86.60, intraday bias higher.
Momentum with the bulls, RSI strong at 67 levels with further room to run.
Stochs and MACD suggest further upside, with directional support from ADX.
87.53 (Dec 15 high) is next target for bulls. Break higher could see test of 87.64 (50% Fib retrace of 102.844 to 72.437 fall) and then 89.89 (weekly 200-MA).
Support levels - 86.06 (5-DMA), 85.19 (converged trendline and 20-DMA), 84.63 (50-DMA) Resistance levels - 87.53 (Dec 15 high), 87.64 (50% Fib), 88.20 (Dec 31 high) ​

Call update:
Our previous call (FxWirePro: AUD/JPY 4H long setup - EconoTimes) has hit TP1&2.

Recommendation:
Book partial profits at highs. Raise trailing stops to 86, hold for further upside.

FxWirePro Currency Strength Index:
FxWirePro's Hourly AUD Spot Index was at 13.4926 (Neutral), while Hourly JPY Spot Index was at -118.345 (Highly Bearish) at 0150 GMT. For more details on FxWirePro's Currency Strength Index, visit FxWirePro?: Real-Time Forex Analysis, Forex Research, Forex Newsfeed, Forex Newswire.

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  #1526 (permalink)  
Old 01-20-2017, 03:51 AM
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New Puerto Rico leader eyes sealing amicable debt agreement



Puerto Rico and its lenders have resumed negotiations this week. But Governor Ricardo Rossell? wants to reset talks following a rancorous two years between the two parties.

The new governor, who succeeded Alejandro Garc?a Padilla after winning the election in November, said Thursday he was aiming for a rational change from the previous administration's management of discussions and assert their willingness to repay debts.

Rossell? mentioned officials are willing to sit down and to employ an actual fiscal oversight. He added they are steps to implement bold reforms.

Since he assumed office on January 2, the Puerto Rican leader has enacted executive orders which will pressure government agencies to slash operating expenditures by 10% this year and cut political appointees by a fifth.

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  #1527 (permalink)  
Old 01-23-2017, 01:09 AM
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Fxwirepro: Thai Baht Gains in Early Hours of Asia, Faces Strong Support at 35.27



USD/THB is currently trading around 35.32 marks.
It made intraday high at 35.41 and low at 35.31 marks.
Intraday bias remains bearish till the time pair holds key resistance at 35.44 marks.
On the top side key resistances are seen at 35.44, 35.61, 35.74, 35.84, 35.93, 36.01, 36.08, 36.39 and 36.66 marks respectively.
Alternatively, a daily close below 35.27 will drag the parity down towards key supports around 35.04, 34.83, 34.64, 34.51 and 34.20 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take short position in USD/THB around 35.35, stop loss 35.44 and target of 35.22/35.04.

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  #1528 (permalink)  
Old 01-23-2017, 03:53 AM
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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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  #1529 (permalink)  
Old 01-24-2017, 01:21 AM
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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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  #1530 (permalink)  
Old 01-24-2017, 03:21 AM
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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-? 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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