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  #1551 (permalink)  
Old 02-07-2017, 02:51 AM
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Euro Weakens on Political Concerns, as Dollar Falls Against Yen



The euro dropped to a one-week low versus the U.S. dollar on uncertainty regarding French politics prior to the presidential vote along with other upcoming elections in Europe. Investors eyed French politics, with far-right National Front leader Marine Le Pen launching her presidential bid, pledging to combat globalisation and withdraw France out of the eurozone.

In late trading, the euro weakened by 0.4 percent versus the US dollar to $1.0742. It fell to $1.0705, its weakest level since Jan. 31. The greenback fell to two-month lows versus the Japanese yen amid a decline in U.S. Treasury yields. The spread between U.S. two-year and Japanese two-year debt yields shrank to nearly 136 basis points, the narrowest in two months. The greenback last fell 0.7 percent at 111.81 yen, and had previously weakened to 111.63, its lowest since late November.

According to analysts, strong equity markets and upbeat U.S. economic data have supported the previous year's bullish U.S. dollar demands. However, the lack of clarity on expected pro-dollar-tax-and-spending-initiatives by the administration of U.S. President Donald Trump as well as concerns on the outlook of the dollar and global trade have weighed on the currency.

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  #1552 (permalink)  
Old 02-07-2017, 06:10 AM
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Intraday technical levels and trading recommendations for EUR/USD for February 7, 2017



In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 where historical bottoms were previously set in July 2012 and June 2010.
Hence, a long-term bearish target was projected toward 0.9450. In March 2015, EUR/USD bears challenged the monthly demand level around 1.0570, which had been previously reached in August 1997.
Later in April 2015, a strong bullish recovery was observed around the mentioned demand level.
However, next monthly candlesticks (September, October, and November) reflected a strong bearish rejection around the area of 1.1400-1.1500.
In the longer term, the level of 0.9450 remains a projected target if the current monthly candlestick achieves bearish closure below the depicted monthly demand level of 1.0570.
Otherwise, the EUR/USD pair remains trapped within the depicted consolidation range (1.0570-1.1400).



The long-term outlook for the EUR/USD pair remains bearish as the monthly chart illustrates. Bearish persistence below 1.0575 is needed to pursue this bearish scenario.
On November 14, bearish persistence below 1.0825 (Key-Level 2) allowed further decline toward 1.0570 (demand level) where evident bullish rejection was expressed on November 24.
Shortly after, the Fibonacci Level 50% (1.0825) constituted a recent supply level which offered a valid SELL entry on December 8.
Bearish persistence below the depicted demand level (1.0570) was expected to allow further decline toward 1.0220. However, significant bullish recovery was expressed around the price level of 1.0340 on January 3.
Bullish persistence above 1.0600 allowed further bullish advance toward 1.0825-1.0850 (Fibonacci Level 50%) where bearish rejection and a valid SELL entry were anticipated.
Bullish breakout above 1.0570-1.0600 was executed on January 12.
That is why, the price level of 1.0570 at the moment constitutes a recent demand level to be watched for the bullish rejection if any bearish pullback occurs.

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  #1553 (permalink)  
Old 02-08-2017, 01:25 AM
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Fxwirepro: South Korean Won Erases Previous Gain Against Euro, Faces Strong Resistance at 1,227



EUR/KRW is currently trading around 1,223 mark.

Pair made intraday high at 1,224 and low at 1,218 levels.

Intraday bias remains slightly bullish till the time pair holds immediate support at 1,217 mark.

A consistent close below 1,218 will drag the parity down towards key supports around 1,210, 1,203, 1,199 and 1,163 marks respectively.

Alternatively, a sustained close above 1,218 will take the parity higher towards key resistances around 1,227, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.

Seoul shares open down 0.13 pct at 2072.58.

We prefer to take long position in EUR/KRW only above 1,227, stop loss at 1,218 and target of 1,235/1,242.

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  #1554 (permalink)  
Old 02-08-2017, 04:03 AM
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Disney Posts Strong Quarterly Profit, Unexpected Revenue Drop



Disney posted first-quarter profits that topped estimates, but revenue fell short of expectations.

In its quarterly earnings report, the company reported first-quarter earnings of $1.55 per share on a revenue of $14.78 billion. The figures denote a 3% annual decline in revenue and a 10% decline in per-share profit. Analysts anticipated the company to report earnings per share of $1.49 per share on a revenue of $15.26 billion. Profit was boosted by a 13% jump from Disney's theme parks across the globe.

Revenue in majority of its business segments also missed estimates, according to Disney. Disney's consumer products and interactive media segment cashed in around $1.48 billion revenue, missing estimates of $1.75 billion, as the segment faced toughed comparison to the success of franchises in the year-prior period.

Revenue for the firm's media networks business clocked in at $6.23 billion, under the estimated $6.42 billion. Operating income in the segment also fell 4% year-on-year. The lower-than anticipated revenue for October to December was weighed down by the decline in advertising revenue at ESPN and due to the movie business' performance compared to its record success a year earlier.

The stock was initially down 2% in extended trading, but reversed losses and was last trading 1.4% lower.

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  #1555 (permalink)  
Old 02-09-2017, 01:02 AM
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Dollar Weakens as U.S. Treasury Yields Decline



The dollar weakened after two days of gains, weighed down by the decline in U.S. Treasury yields amid market uncertainty regarding President Donald Trump's economic policies. U.S. benchmark 10-year Treasury note yields were down to a three-week low of 2.325 percent.

Trump is set to meet Japanese Prime Minister Shinzo Abe and the U.S. president is expected to reiterate his opposition to a firm dollar and a weak yen, which might further weigh on the greenback. The Japanese yen climbed, amid the unease surrounding global political risks in Europe, which eventually pulled down U.S. Treasury yields. The dollar index was down 0.2 percent to 100.27, as the US currency weakened by 0.3 percent to 112.05 yen. The euro edged higher versus the dollar from more than one-week lows. Its recent path has been tied to the developments regarding the French presidential elections.

The euro fell 0.3 percent versus the Japanese yen at 119.76 yen, and was higher by 0.1 percent against the dollar at $1.0687.

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  #1556 (permalink)  
Old 02-09-2017, 03:13 AM
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Fxwirepro: Japanese Yen Marginally Lower Despite Higher Than expected Core Machinery Orders Data



USD/JPY is currently trading around 112.11 marks.

It made intraday high at 112.13 and low at 111.73 levels.

Intraday bias remains neutral for the moment.

A daily close above 111.93 will take the parity higher towards key resistances around 112.54, 113.48, 113.96, 114.95, 115.61, 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.

On the other side, a sustained close below 111.93 will drag the parity down towards key supports around 111.35, 110.85, 109.72, 106.72, 106.03 and 104.96 levels respectively.

Japan?s December machinery orders m/m increases to 6.7 % (forecast 3.1 %) vs previous -5.1 %.

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  #1557 (permalink)  
Old 02-10-2017, 01:07 AM
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Wall Street Advances After Trump Promises Announcement on Taxes



U.S. stocks rallied following U.S. President Donald Trump's promise to give an announcement on taxes in the next few weeks. The fourth-quarter earnings season has mostly been strong, as combined earnings of S&P 500 companies have climbed 8.3 percent, its highest in nine quarters.

The Dow Jones industrial average climbed 0.59 percent to finish at 20,172.40, as Nike led advances while Intel lagged behind. The S&P 500 rose 0.58 percent at 2,307.87, as financials led nine sectors higher and utilities and materials were the only decliners. The Nasdaq composite gained 0.58 percent to end at 5,713. Shares of Apple added 0.38 percent and was its largest driver. Eight of the 11 major S&P sectors traded higher.

Coca-Cola dropped 2.6 percent to $40.96 after the company forecasts a decline in full-year adjusted profit. The stock added the most pressure on the Dow and S&P. Shares of Twitter plunged ten percent after the website posted its slowest revenue growth since going public in 2013. Viacom was the largest gainer on the S&P, climbing 4.3 percent after its quarterly profit exceeded analysts' forecasts.

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  #1558 (permalink)  
Old 02-10-2017, 03:47 AM
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Fxwirepro: Japanese Yen falls in Early Hours of Asia Despite Higher Than expected Ppi Data



USD/JPY is currently trading around 113.72 marks.

It made intraday high at 113.79 and low at 113.22 levels.

Intraday bias remains bullish till the time pair holds key support at 112.64 marks.

A daily close above 113.22 will take the parity higher towards key resistances around 113.96, 114.95, 115.61, 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.

On the other side, a sustained close below 113.22 will drag the parity down towards key supports around 112.64, 111.35, 110.85, 109.72, 106.72, 106.03 and 104.96 levels respectively.

Japan?s January corporate goods price y/y increase to 0.5 % (forecast 0.0 %) vs previous -1.2 %.

Japan?s January corporate goods price m/m stays flat at 0.6 % (forecast 0.2 %) vs previous 0.6 %.

BOJ increases purchase of superlong JGBs in Friday's operation.

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  #1559 (permalink)  
Old 02-13-2017, 03:17 AM
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Japan GDP Adds 0.2% On Quarter In Q4



Gross domestic product in Japan gained 0.2 percent on quarter in the fourth quarter of 2016, the Cabinet Office said on Monday.

That missed expectations for an increase of 0.3 percent, which would have been unchanged from the previous three months.

On a yearly basis, GDP gained 1.0 percent - also missing forecasts for 1.1 percent and down from 1.4 percent in the third quarter.

Nominal GDP was up 0.3 percent on quarter, shy of expectations for 0.5 percent and up from 0.2 percent in the three months prior.

The GDP deflator eased 0.1 percent on year - unchanged from the third quarter but beating estimates for a decline of 0.2 percent.

Private consumption was flat on quarter, matching forecasts and down from 0.3 percent in Q3. Business spending was up 0.9 percent on quarter, missing forecasts for 12 percent following the 0.3 percent decline in the previous three months.

Net exports, or shipments minus imports, added 0.2 percentage points to GDP.

The Japanese economy has expanded in four straight quarters, the first such streak in more than three years.

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  #1560 (permalink)  
Old 02-13-2017, 03:42 AM
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Indian Government Bond Volatility Surges on RBI?s Unexpected Decision



The Reserve Bank of India's policy making committee ruled to keep interest rates unchanged on Wednesday and shifted from an accommodating stance towards a neutral gear, catching investors and traders off-guard.

The unexpected decision caused India's 10-year yield to jump 31 bps on Wednesday and another 12 bps the following day as investors began to taper their bets for additional easing. A measure of 10-day volatility on noted has since risen to 26.7%, its highest since 2013 from the 4.6% on Thursday. Forex reserves of local government and corporate debt fell by 8.3 billion rupees or $124 million during the release of the policy statement, ending a six-day winning streak.

RBI's decision marks the third time that the panel has taken the route contrary to market expectations since it was established in October. It prompted a fivefold surge in bond volatility and caused benchmark notes to record the biggest lost in almost four years.

Authorities maintained borrowing costs despite stating that the economy was unlikely to rise beyond its inflation target of 5% in March. Consumer prices growth decelerated to 3.41% in December, the slowest since November 2014. RBI is eyeing 4% inflation through 2021 in the medium-term, while allowing it to move in a range between 2%-6%.

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