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Thread: Forex news from InstaForex

  1. #1131
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    Technical analysis of NZD/USD for January 08, 2016



    NZD/USD is expected to trade in a lower range as the key resistance is at 0.6665. The pair remains under pressure below its key resistance at 0.6665, and it seems likely to post a new decline to test its support at 0.6590, representing the previous swing low. A break below this threshold would trigger a new pullback to 0.6560. The relative strength index lacks upward momentum. To sum up, as long as 0.6665 holds on the upside, look for 0.6580 and 0.6560 in extension.

    Trading recommendations:
    The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.6590. A break of that target will move the pair further downwards to 0.6560. The pivot point stands at 0.6660. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.6710 and the second target at 0.6760.

    Resistance levels: 0.6710, 0.6760, 0.6790
    Support levels: 0.6580, 0.6560, 0.6525

    More analysis - at instaforex.com

  2. #1132
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    China to face adversity in hitting 6.5% growth over 2016-2020



    China will face great hardship in achieving economic growth above 6.5% between 2016 and 2020 due to sluggish global demand, escalating labor costs, and aggravating environmental concerns in the country. According to State Council's Development Research Centre President Li Wei, gross domestic product has recorded annual growth of approximately 10%. The 6.5% projection is not high, but it will be difficult to attain such pace of growth. China is scheduled to release fourth quarter and full-year GDP figures on January 19.

    News are provided byInstaForex.

  3. #1133
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    Fxwirepro: Aud/jpy Extends Recovery from Multi-Year Lows, Good to Buy Dips



    Poor Chinese inflation data released over the weekend raised concerns over China's ability to boost the economic growth, denting risk appetite and boosting yen. AUD/JPY hit a multi-year low of 80.88, levels not seen since Oct 2012, but was rejected at lows. The pair later rebounded higher towards 82 handle, on the back of strong pullback seen in the USD/JPY pair. Broader market sentiment will continue to dominate markets amidst a data-light economic calendar today. Strong resistance is seen at 81.95 levels, breaks above could take the pair to next hurdle at 82.95 (5-DMA) and then to 83.90 (Jan 8th highs). To the downside immediate support might be located 80.88 (Session lows Jan 11) below that at 79.50 (Oct 2012 Level). Recommendation: Good to buy dips around 81.50, SL: 80.90, TP: 82.95/83.90

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  4. #1134
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    Singapore bond market sees default despite unrecognized notes



    Singapore's bond market may default for the second time following lenders said Pacific Andes Resources Development Ltd. has not recognized some obligations on S$200 million ($139 million) of notes. In a January 10 filing, the Hong Kong-based company said it received a letter from HSBC Holdings Plc, alleging it breached on the 2017 securities. Investors, under the bond's terms, can request full immediate repayment in the event the firm's shares are suspended. Since November 25, Pacific Andes has halted trading in the country.

    News are provided byInstaForex.

  5. #1135
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    Fxwirepro: Usd/jpy Bounces Off Trendline Support, But Unable to Hold Gains Above the 118 Handle



    USD/JPY bounce overnight from trendline support failed near 118 handle and the major dropped to new session lows towards the mid-point of 117 handle. Yen back in demand amid falling Japanese stocks, Asian stocks have been volatile triggering risk-off trades. Strong support for the pair lies at 116.65 (trendline) and further below at 116 levels, while on the upside resistance is seen at 118.02 (Jan 11 & session highs) ahead of 118.75 (Jan 7 highs). Price action is well below the cloud and moving averages biased lower. RSI and Stochs on dailies are deeply in oversold territories. The data calendar is rather empty today, nothing of note for the JPY in terms of macro news except for the BOJ Governor Kuroda's speech.

    Recommendation: We will wait for further technical confirmation to initiate any trade

    News are provided byInstaForex.

  6. #1136
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    Disney to reveal Shanghai theme park on June 16



    Walt Disney Co. announced the new Shanghai Disney Resort will be unveiled on June 16, the firm's biggest investment outside America. The $5.5 billion resort will showcase Disney's two hotels, tallest castle, and a pirates-themed land. The size of their first Chinese resort is 963 acres (389 hectares), three times bigger than the Hong Kong Disneyland. Chairman and Chief Executive Bob Iger has remained upbeat on the project, which has been planned for years, amid China's economic degeneration and stock market slump.

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  7. #1137
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    China Exports Fall Less Than Forecast



    China's exports declined less than expected in December, data published by the General Administration of Customs revealed Wednesday. Exports fell 1.4 percent on a yearly basis in December, slower than the 8 percent decline forecast by economists. At the same time, imports slid 7.6 percent annually, also slower than the expected decrease of 11 percent. Consequently, the trade surplus rose to around $60 billion, which was well above a $51.3 billion surplus forecast by economists.

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  8. #1138
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    Australia Unemployment Rate Steady At 5.8% In December



    The jobless rate in Australia was a seasonally adjusted 5.8 percent in December, the Australian Bureau of Statistics said on Thursday. That was unchanged from the November reading, and it beat forecasts for 5.9 percent. The Australian economy lost 1,000 jobs in December to 11,902,300 - which also topped forecasts for a decline of 10,000 jobs following the addition of 71,400 jobs in the previous month. Full-time employment saw an increase of 17,600 jobs in December to 8,228,700 following the spike of 41,600 a month earlier. Part-time employment was down 18,500 jobs to 3,673,600 following the 29,700 increase in November. Unemployment decreased 10,900 to 727,500. The number of unemployed persons looking for full-time work decreased 2,600 to 515,000 while the number of unemployed persons only looking for part-time work decreased 8,400 to 212,500. "The trend shows that around 312,000 more people were employed in December 2015 than in December 2014. Full-time employment growth was stronger than part-time over the year, increasing by 186,600 people," said Bruce Hockman, General Manager of ABS' Macroeconomic Statistics Division. The increase in employment has contributed to the trend employment to population ratio rising over the year from 60.6 percent to 61.4 percent, while the unemployment rate has decreased over the year from 6.2 percent to 5.8 percent. The participation rate was 65.1 percent - missing forecasts for 65.2 percent and down from 65.3 percent a month earlier. Monthly hours worked in all jobs increased 0.3 million hours to 1,645.2 million hours.

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    Fed: Strong dollar, low energy prices impact US economic growth



    A firm US dollar and low energy prices have affected the American economy, as improvements in consumer spending and the labor market did nothing to counter its negative effects. Based on its Beige Book report of anecdotal details on business activity, collated from contacts in the country, the Federal Reserve said US economic activity expanded in nine of the 12 districts. The Boston Fed reported a positive economic activity, while Kansas City and New York districts considered theirs flat. Also, half the central bank's districts noted the perception for future economic growth was still mostly optimistic. Policymakers, in general, perceive additional four quarter-point increments in 2016 although they reiterated it would depend on figures and progress on Fed's 2% target on inflation.

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    Saudi Arabia plans to create new sovereign fund - source



    Saudi Arabia is planning to set up a new sovereign fund for diversifying its investments and overseeing a portion of its oil wealth. People privy to the matter, the kingdom also asked consultancies and investment banks to present proposals for the project. Sources said maintaining the foreign reserves at an acceptable level is needed to bolster the real and retain a sturdy financial position. Another source added the government did not disclose the size of the new sovereign fund. As of present, Saudi's state budget deficit is at record high while net foreign assets plunged over $100 billion in 15 months.

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