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Offline InstaForex Gertrude

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Re: Forex News from InstaForex
« Reply #135 on: May 20, 2016, 07:29:46 am »
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  • GM expands car-sharing service to Boston, Chicago, Washington

    Car-sharing service Maven of General Motors will also be offered in Boston, Washington D.C., and Chicago, the company said. The service was launched 4 months ago, and has already started offering 30 vehicles at over 15 sites in Chicago for $8 per hour, including gas and insurance, the GM said. The automaker launched the app-based service in January with small fleets in Ann Arbor, Michigan and in Chicago, New York, Frankfurt and Berlin.

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    Offline InstaForex Gertrude

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    Re: Forex News from InstaForex
    « Reply #136 on: May 23, 2016, 04:03:58 am »
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  • Moody's: Thai Banking System Stable Over the Next 12-18 Months; Strong Loss Buffers and steady Profit


    Moody's Investors Service says that the outlook for Thailand's banking system is stable over the next 12-18 months, and reflects primarily the banks' strong loss absorption buffers. "The banks' high provisions and strong capitalization levels--against the backdrop of the slow credit growth environment--will allow them to maintain their credit profiles over the next 12-18 months," says Alka Anbarasu, a Moody's Vice President and Senior Analyst. "However, weak economic growth will remain the system's key operating challenge," adds Anbarasu. Moody's conclusions were contained in its just-released report on Thai banks, entitled, "Strong Loss Buffers and Steady Profits Support Stable Outlook," and is authored by Anbarasu. The stable outlook is based on Moody's assessment of five drivers: Operating Environment (stable); Asset Quality and Capital (deteriorating); Funding and Liquidity (stable); Profitability and Efficiency (stable); and Systemic Support (stable). Moody's baseline scenario assumes that real GDP growth in Thailand will average 2.8% in 2016 and 3.0% in 2017; a subdued pace, given the country's growth potential. Sluggish exports will prove a key driver of the modest growth rate. Moody's report points out that while stimulus measures from the government could provide some countercyclical support, they will do little to address the key domestic challenges that weigh on private demand, including high household leverage, continuing political uncertainty, and the lack of structural improvements for the country's export-oriented manufacturing infrastructure. On the issue of asset quality, Moody's says that the banks will demonstrate a moderately deteriorating asset quality--led by small- and medium-size enterprises (SMEs) and the retail segment--because such borrowers will face the greatest repayment challenges in the weak operating environment. During 2015, some banks saw a jump in their credit costs, owing to the default of a leading steel producer, Sahaviriya Steel Industries Public Company Limited (unrated). Despite the one-off event, Moody's says that over the next 12-18 months, overall corporate loan quality will be stable, supported by the their strong overall debt servicing capacity. In addition, credit costs will remain elevated, as the banks try to shore up their countercyclical buffers amid a more challenging operating environment. Moody's report also says that the banks will see further pressure on their loan incomes from weak demand for credit. Nevertheless, their increasing success in developing non-loan income will help sustain their profits at levels sufficient to meet potential credit costs and maintain their capitalization levels. Another contributor to the banks' resilience is their strong loss absorption buffers, which rank in line with many of its nine peers in the Association of South East Asian Nations. The report points out that Moody's stress test shows the resilience of the Thai banking system. Under a stress scenario--which assumes a jump in non-performing loan ratios to 14% and an increase in credit costs to 4% of loans from the current 1%--Moody's-rated banks would see a drop in their average Tier 1 capital ratio to a passable 9.2% from 12.8% in 2015. As for funding and liquidity, Moody's says such conditions should remain stable in the current slow loan growth environment. Moody's expects that the banks will maintain their loan-to-deposit ratios below 100% over the next 12-18 months. Moody's rates a total of 12 banks in Thailand: nine commercial banks and three policy banks. The nine commercial banks represented 84% of commercial banking system assets at end-2015. Moody's has maintained a stable outlook on the Thai banking system since 2010.

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    Offline InstaForex Gertrude

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    Re: Forex News from InstaForex
    « Reply #137 on: May 23, 2016, 04:31:43 am »
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  • Sri Lanka’s Interest Rate Remains Untouched Despite Inflation

    Sri Lanka's benchmark lending rates were unchanged for the third month in a row with the central bank's optimistic view on the economy despite the alarming pace of the country's inflation rate. The standing lending facility rate still stood at 8 percent while the standing deposit facility rate is at 6.5 percent. Its core inflation, which is based on the Colombo Consumers Price Index (CCPI) rose to 1.3 percent in April from 1.1 percent in the previous month. April's annual headline inflation climbed by 1.1 percent to 3.1 percent from 2.0 percent in March. The Monetary Board estimates that inflation will linger in mid-single digit levels. The island country's economy is seen to grow by 5.8 percent this year from 4.8 percent in 2015 and may even spur to 7 percent in the medium term. The central bank of Sri Lanka recently secured a $1.5 billion extended fund facility loan from the International Monetary Fund. Apart from this, the central bank is also relying on the recent tax increase and more credit facilities on the way to shield the economy from market shocks.

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    Offline InstaForex Gertrude

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    Re: Forex News from InstaForex
    « Reply #138 on: May 24, 2016, 02:46:59 am »
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  • Usd/twd Heavy, Set to Open Around 32.62

    NDFs trade 32.62-68 overnight
    Strong equity inflows on Monday; Taiex closed up 2.6%

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    Offline InstaForex Gertrude

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    Re: Forex News from InstaForex
    « Reply #139 on: May 24, 2016, 04:08:27 am »
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  • US House junks bill requiring entities to disclose phone location

    The US House of Representatives rejected a legislation mandating cell phone providers to share a phone's location with authorities in case of emergency. With 229-158, the Kelsey Smith Act failed to strike lawmakers, falling to attain the two-thirds majority necessary to hasten the passage of the bill. Civil liberties groups have strongly opposed the measure, stipulating it would result in a loophole and broadened sovereign surveillance. R Street reiterated phone carriers already have power to disclose phone location details in emergency instances. The legislation, drafted by Kansas Representative Kevin Yoder is named after Kelsey Smith who was suddenly missing as she went to a local Target branch in 2007. Her dead body was found four days later following Verizon disclosed her phone's location data with law enforcers.

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    Offline InstaForex Gertrude

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    Re: Forex News from InstaForex
    « Reply #140 on: May 25, 2016, 02:47:54 am »
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  • Fxwirepro: Kiwi Gains in Early Asia on the Back of Higher Than expected Trade Balance Data

    AUD/NZD is trading around 1.0653 marks.   
    Pair made intraday high at 1.0667 and low at 1.0634 marks.   
    Today New Zealand released trade balance data with positive numbers at 292M vs 189M previous release.   
    Goods exports rose 4.0 percent in April 2016, up $166 million to $4.3 billion, Statistics New Zealand said today. The total value of goods imported in April 2016 was $4.0 billion, up $58 million (1.5 percent). Consumption goods led the rise, up $129 million (14 percent), with increases across a broad range of goods.   Intraday bias remains bearish till the time pair holds key resistance at 1.0741 marks.   
    A daily close below 1.0620 will take the parity down towards key support around 1.0574 (February 12, 2016 low) and 1.0506 marks respectively.   
    On the other side, a sustained close above 1.0734 will drag the parity higher towards 1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.   
    Important to note here that 20D, 30D and 55D EMA heads down and confirms bearish trend. 
    We prefer to take short position in AUD/NZD around 1.0670, stop loss 1.0734 and target 1.0574 levels.

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    Offline InstaForex Gertrude

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    Re: Forex News from InstaForex
    « Reply #141 on: May 25, 2016, 04:29:25 am »
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  • Eurozone approves breakthrough Greece debt relief

    Finance ministers in Europe agreed to ease Greece's debt load and extend additional bailout loans, considering the decision a huge development to resolve the debt crisis. The eurozone officials, following 11-hour discussions, voted to provide new loans amounting to €10.3 billion ($11.5 billion). The decision came after the parliament authorized further spending declines and tax increases sought by global creditors. The International Monetary Fund has been particular regarding Greece's public debt, reiterating it is not viable at current levels of around 180% of its annual gross domestic product.

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    Offline InstaForex Gertrude

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    Re: Forex News from InstaForex
    « Reply #142 on: May 26, 2016, 01:38:02 am »
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  • Fxwirepro: Yen Gains Sharply in Early Asia After Corporate Price Index Data, Intraday Bias Remains Bearish

    USD/JPY is currently trading around 109.46 marks.   
    It made intraday high at 110.23 and low at 109.43 levels.   
    Today Japan released corporate service price index data with flat numbers at 0.2% m/m as expected.   
    Intraday bias remains bearish for the moment.   
    A sustained close above 110.38 is required to take the parity higher towards key resistances around 111.34 (April 05, 2016 high), 112.60 (55D EMA) and 113.42 levels respectively.   
    Alternatively, a sustained break below 109.17 will drag the parity down towards key supports at 108.72, 107.94, 106.15, 105.71, 105.45 and 104.55 levels respectively.

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    Offline InstaForex Gertrude

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    Re: Forex News from InstaForex
    « Reply #143 on: May 26, 2016, 04:38:06 am »
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  • Abe to bring G7 leaders to Shinto religion site ahead of summit

    Japanese Prime Minister Shinzo Abe was poised to tour Group of Seven leaders to the Shinto religion's holiest location ahead of convention discussing different global economic risks, including China's maritime aggressiveness and refugee crisis.
    President Barack Obama and other G7 leaders would visit the grounds of Ise Grand Shrine, dedicated to sun goddess Amaterasu Omikami, direct descendants of emperors of Japan.
    The Japanese premier hopes the shrine visit will give an insight to the core of Japanese culture. But critics slammed Abe's move, reiterating he caters the conservative base seeking to revive religion in politics and traditional norms.

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    Offline InstaForex Gertrude

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    Re: Forex News from InstaForex
    « Reply #144 on: May 27, 2016, 02:57:16 am »
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  • Fxwirepro: Japanese Yen Gains in Early Asia on Robust Core Cpi Data

    USD/JPY is currently trading around 109.76 marks.   
    It made intraday high at 109.79 and low at 109.55 levels.   
    Today Japan released core CPI data with positive numbers at -0.3% m/m vs -0.4% m/m consensus forecast. Intraday bias remains neutral for the moment.   
    A sustained close above 110.38 is required to take the parity higher towards key resistances around 111.34 (April 05, 2016 high), 112.60 (55D EMA) and 113.42 levels respectively.   
    Alternatively, a sustained break below 109.41 will drag the parity down towards key supports at 108.72, 107.94, 106.15, 105.71, 105.45 and 104.55 levels respectively.

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    Offline InstaForex Gertrude

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    Re: Forex News from InstaForex
    « Reply #145 on: May 30, 2016, 02:55:46 am »
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  • Fxwirepro: Usd/krw Hovers Around Key Resistance at 1194, Intraday Bias Remains Neutral

    USD/KRW is currently trading around 1190 levels.   
    It made intraday high at 1190 and low at 1189 levels.   
    Intraday bias remains neutral for the moment.   
    A daily close above 1194 is required to drag the parity higher towards key resistances at 1195, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.   
    Alternatively, a sustained close below 1182 will tests key supports at 1172, 1162, 1153 (November 2015 low) /1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.   
    Daily chart showing the 20D EMA has crossed over 30D and 55D EMA, which signals bullish trend. In addition, a sustained close above 1194(high as on May 24, 2016) is also required to confirm the same.   
    Today South Korea released Manufacturing BSI index with positive numbers at 72 m/m vs 69 m/m previous release.
    We prefer to take long position in USD/KRW only above 1194, stop loss 1177 and target 1209 marks.

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    Offline InstaForex Gertrude

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    Re: Forex News from InstaForex
    « Reply #146 on: May 30, 2016, 04:59:40 am »
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  • Gold hits lowest level since February as Fed implies rate hike

    Gold touched its weakest level since February as Federal Reserve Chair Janet Yellen indicated another interest rate hike might be considered in the following months, citing strengthening US economy. The Fed head backed what some policymakers have mentioned last week, that signs of improving US economy meant raising rates could now be taken into account. Bullion for immediate delivery closed at $1,200.03 per ounce, down 1%, the lowest since February 17. Prices, which have dropped for ninth consecutive days, are poised for its biggest monthly decline since 2013.

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    Offline InstaForex Gertrude

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    Re: Forex News from InstaForex
    « Reply #147 on: May 31, 2016, 03:38:50 am »
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  • Challenging Operating Environment and Deteriorating Asset Quality and Profitability

    Moody's Investors Service says the outlook on China's banking system remains negative, reflecting a challenging operating environment, and banks' deteriorating asset quality and profitability.
    "Rising system leverage and worsening credit conditions exert continued pressure on the banks' asset quality and profitability," says Yulia Wan, a Moody's Assistant Vice President and Analyst.
    "In addition, China's sovereign outlook change to negative from stable in March 2016 affected the ratings of banks that had incorporated a degree of government support and uplift," says Wan.
    The presentation -- "Rising System Leverage and Impact on Banks' Credit Profiles" -- was held at Moody's 2016 Mid-Year China Conference: Understanding the Risks of High and Rising Leverage in Beijing on 31 May. The Shanghai conference is scheduled for 2 June. The morning seminars feature senior Moody's managers and analysts, and cover a broad range of sub-themes.
    The change in Moody's Macro Profile on China's banking system to "Moderate" from "Moderate+" in March 2016 reflected the continued rise in leverage in the Chinese economy from an already high level. The change of the Macro Profile has led Moody's to reassess Chinese banks' financial factors and standalone profiles.
    "While our rated banks are not immediately affected by this Macro Profile change, their standalone credit profiles face downward pressure," says Wan.
    According to Moody's, asset quality is deteriorating with increasing nonperforming loans (NPLs) and rising credit costs; there is a widening gap between NPLs and 90+ day delinquencies as greater numbers of 90+ day delinquencies are not recognized as NPLs.
    In addition, shadow banking assets accounted for nearly 80% of GDP in 2015. Increasing interconnectedness between banks and the shadow banking system could put additional pressures on banks' asset quality.
    Investments in loans and receivables among the 26 listed banks in China jumped four-fold to RMB10.4 trillion from RMB2.5 trillion between 2012 and 2015.
    Moody' stressed that these investments are an opaque source of asset risk.
    However, Moody's says there are several mitigating factors that support the credit profiles of Chinese banks.
    These include the banks' (1) good profitability relative to global peers, despite increasing impairment charges and pressure on net interest margin; (2) loan loss reserves, which provide a buffer against losses despite its rapid decline; (3) broadly stable liquidity, despite pressures from capital outflows and a growing portfolio of illiquid investments; (4) adequate capital, though falling behind global standards; (5) increasing NPL write-offs and sales; (6) support from the government, which remains a strong and key credit factor.

    This year's conference will include the following plenary sessions:
    • Incorporating government support in the ratings of SOEs amid rising defaults
    • China property outlook -- slowing growth and increasing competition raise risks
    • Why does the build-up in corporate leverage matter to the sovereign?
    • Does high leverage pose a risk to financial system stability?
    • What risks do corporates face from high leverage, overcapacity and restructuring?
    • Diversifying sources of finance

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    Offline InstaForex Gertrude

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    Re: Forex News from InstaForex
    « Reply #148 on: May 31, 2016, 05:20:35 am »
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  • Chinese woes, Fed rate hike force investors to ditch Asian holdings

    Chinese economic woes and the Federal Reserve's brewing interest rate hikes have pressured investors to sell its Asian bonds and currencies. An HSBC data indicated a net $3.2 billion ditched equity markets in the region, excluding Japan, the biggest outflow since January. The report added bond markets in Indonesia and South Korea are now receiving huge reverse of inflows, while currencies have slumped sharply. The MSCI Asia-Pacific Index climbed 19% between late January and the end of April in the wake of tailwinds of a dovish Fed, hopes the Chinese economy will recuperate, and stabilization in commodity prices.

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    Offline InstaForex Gertrude

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    Re: Forex News from InstaForex
    « Reply #149 on: June 01, 2016, 03:00:54 am »
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  • Fxwirepro: South Korean Won falls on the Back of Lower Than expected Cpi Data


    USD/KRW is currently trading around 1190 levels.
    Overnight South Korea released CPI data with negative numbers.   
    South Korea’s May CPI growth Y/Y decreases to 0.8 % (forecast 0.90 %) vs previous 1.0%. In addition, CPI growth M/M decreases to 0.0 % (forecast 0.20 %) vs previous 0.1 %.   
    On the other side, South Korea’s April current account balance decreases to 5.14 bln $ vs previous 10.07 bln $ (revised from 10.07 bln $).   
    South Korea’s May trade balance prelim decreases to 7.1 bln $ vs previous 8.80 bln $.   
    Intraday bias remains bullish till the time pair holds key support at 1177 marks.   
    A daily close above 1194 is required to drag the parity higher towards key resistances at 1195, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.   
    Alternatively, a sustained close below 1182 will tests key supports at 1172, 1162, 1153 (November 2015 low) /1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.   
    Daily chart showing the 20D EMA has crossed over 30D and 55D EMA, which signals bullish trend. In addition, a sustained close above 1194(high as on May 24, 2016) is also required to confirm the same.
    We prefer to take long position in USD/KRW only above 1194, stop loss 1177 and target 1209 marks.

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