Thread: Forex news from InstaForex

Fxwirepro: Japanese Yen Recovers from 3 –week Low in Early Asia, Fomc and Boj in Focus for the Week



USD/JPY is currently trading around 111.35 marks.
It made intraday high at 111.88 and low at 111.25 levels. Intraday bias remains bearish till the time pair holds key resistance at 111.88 marks.
A sustained close above 112 will take the parity higher towards 112.60 and 113.42 levels.
Alternatively, a daily close below 109.89 will drag the parity down towards key supports at 109.48 and 107.87 levels respectively.
This week will be important as U.S. and Japan both will release monetary policy statements.

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Mitsubishi Motors keeps sustaining losses following rigged pollution data



Mitsubishi Motors Corp. shares continued suffering losses Monday as the automaker previously admitted manipulating fuel efficiency tests. Shares slid by around 2.6% following it sustained two-digit declines in the previous week. The Japanese automaker is scheduled to report annual results Wednesday despite reports it will postpone its release.

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Fxwirepro: Kiwi Rises Sharply Against Major Peers As Rbnz Stands Pat



AUD/NZD is trading around 1.0987 marks.
Pair made intraday high at 1.1064 and low at 1.0948 marks.
Today RBNZ left interest rates on hold after cutting the OCR to a record-low 2.25% just last month.
Intraday bias remains bearish till the time pair holds immediate resistance at 1.1062 marks.
A daily close below 1.1062 will take the parity down towards 1.0934 and 1.0890 marks respectively.
On the other side, a sustained close above 1.1062 will drag the parity higher towards 1.1123/1.1298/1.1317/1.1352/1.1590 levels.

We prefer to take short position in AUD/NZD around 1.1025, stop loss 1.1062 and target 1.0890 marks.

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BOJ retains monetary stimulus to evaluate impact of negative rates



Citing the need to evaluate the extent of negative interest rates, the Bank of Japan decided against bolstering monetary stimulus. Policymakers voted to retain the 0.1% negative rate on parts of deposits kept at the BOJ, the ¥80 trillion ($715 billion) goal for beefing up monetary base, and expand the program for purchasing more perilous assets. The BOJ also adjusted the timetable for hitting the 2% inflation goal, the fourth postponement in around a year. Market players will now turn their attention to Japanese Prime Minister Shinzo Abe, who is awaited whether to postpone sales tax increase in April 2017.

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Moody's: Mexico's A3 Rating underpinned by Structural Reforms, Fiscal Challenges Undermine Outlook



A large and diverse economy, a high degree of integration with the US, as well as anticipated growth prospects associated with structural reforms support the Government of Mexico's A3 rating, Moody's Investors Service says in an analysis of the sovereign. However, the outlook was revised to negative from stable in March and downward pressure to the rating could occur from stalled fiscal consolidation and the potential crystallization of contingent liabilities via further support to Petroleos Mexicanos (PEMEX, Baa3 negative). Mexico's A3 rating incorporates Moody's expectation that recent structural reforms would improve the country's medium-term potential economic GDP growth to a 3%-3.5% range versus a pre-reform 2%-3% level. "However, a combination of the oil price shock and declining oil production at PEMEX, along with slower-than-expected growth have undermined the economic outlook," Jaime Reusche, a Moody's Vice President and Senior Analyst says. As a result, Moody's has forecast moderate growth of 2.5% for 2016 and 2017. While curtailed oil production at PEMEX has weighed on growth, recent energy sector reform has attracted private investment, albeit with mixed results amid low oil prices, curbing expectations for investment up to 2017 and beyond. Challenges facing the sovereign include reduced fiscal revenues as growth remains subdued and historically low oil prices. Moody's forecasts overall federal government revenues will decrease to 18.5% of GDP in 2016 from 19.3% in 2015. "Despite the drop, the authorities have begun implementing expenditure measures to reduce the federal government deficit from 2.8% of GDP in 2015 to 2.5% in 2016," Reusche says. Moody's credit analysis on Mexico does not constitute a rating action.

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Comcast Buys DreamWorks for $3.8 Billion, Aims to Dethrone Disney



Comcast Corporation's latest acquisition will surely give Walt Disney a run for its money. Comcast's entertainment division NBCUniversal inked a deal to purchase DreamWorks Animation Inc. for $3.8 billion. Comcast is the creator of hit movie Despicable Me and the Minions, while DreamWorks' roster include Shrek, Kung Fu Panda, Madagascar, and Casper the Friendly Ghost. Once the transaction is finalized, DreamWorks' beloved characters are expected to appear at Comcast's Universal Studios theme park. The Walt Disney Company is now facing tougher competition with Comcast's purchase. This also indicates that Comcast, the US' largest cable distributor, is adapting to consumers' shift to online content, leaving television behind. DreamWorks provides family-friendly content to Netflix.

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Aud/usd eased to 0.7593 First up After Slightly Weaker China Pmi



Light AUD/JPY demand after Tokyo arrived helping to underpin AUD/USD
AUD/USD support at 0.7545/50 where Wednesday's low and 50-day MA converge
Resistance at 20-day MA at 0.7662 - range expected ahead of RBA tomorrow

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Fxwirepro: Usd/inr Breaks Key Support at 66.32, Good to Sell on Rallies



USD/INR is currently trading at 66.32 marks. It made intraday high at 66.41 and low at 66.32 levels. Intraday bias remains bearish for the moment. A daily close below 66.32 will take the parity down around key supports at 66.10/65.95/65.81 marks respectively. On the other side, key resistance levels are seen at 66.48/66.72/ 66.86/ 66.95/ 67.15 levels. Today India will release Nikkei market manufacturing PMI data at 0500 GMT. In addition, Indian stock markets are trading on a lower note. As BSE Sensex was trading 0.71% lower at 25,428 while NSE Nifty fell by 0.73% to 7,792 points. We prefer to take short position in USD/INR only below 66.30, stop loss 66.72 and target 66.05 marks.

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Fxwirepro: Nikkei225 Consolidates in Narrow Range, Good to Sell on Rallies



Major intraday resistance - 16200 Major support - 15800 Nikkei index slightly recovered after making a low of 15837.It is currently trading around 16016. Short term trend is bearish as long as resistance 16600 holds. The index minor resistance is around 16200 and any break above will take the index to next level 16375(55 day H EMA)/16600/16800. On the lower side major support is around 15800 and break below will drag the index down till 15500/15325 in short term. . Short term trend reversal can be seen only below 15000. It is good to sell on rallies around 16300 with SL around 16600 for the TP of 16000/15550

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Fed's Williams perceives huge decline in assets



Federal Reserve of San Francisco President John Williams highlighted the readiness of the US economy for higher interest rates but stressed the move would lead to huge decreases in asset prices. The policymaker, however, did not imply another financial crisis is imminent, saying American regulators have scored significant progress in bolstering banks against likely failure in the future. Williams said he is more worried about people forgetting the things that transpired during the last crisis. For the first time in almost a decade, the Fed raised rates last December. But it refrained from increasing them further in their last meeting despite uncertainties and market volatility.

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