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Fxwirepro: Usd/sgd Rejects Key Resistance at 1.4179, Short Term Trend Reversal Likely
USD/SGD is currently trading around 1.4124 marks.
It made intraday high at 1.4151 and low at 1.4109 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.4179 marks.
A sustained break above 1.4179 will test key resistances at 1.4228, 1.4336 and 1.4443 levels respectively.
Alternatively, a consistent close below 1.4126 will drag the parity down towards key supports at
1.4072/1.3970/1.3819/1.3775/1.3704/1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current down side movement is short term trend correction only.
Singapore will release retail sales data at 0500 GMT.
We prefer to go short on USD/SGD around 1.4125 with stop loss at 1.4179 and target of 1.4072/1.3970.
News are provided byInstaForex.
Apple Extends Recent Losses After iPhone Sales Warning
Apple's stocks continued its losing streak on Monday after issuing a warning to investors that sales of its iPhones could decline if President-Elect Trump enacts his campaign threat to slap new tariffs on China-imported goods.
The tech giant's stock lost 2.5% in the latest session, bringing its losses since last week's election to around 5%.
An editorial article published in the Chinese government-supported Global Times cautioned of eye-for-eye reprisal should Trump push through his promise to impose 45% tariffs on all products and goods imported from China, adding to the growing concerns of Apple investors.
The op-ed stated threatened that Boeing orders will be substituted by Europe's Airbus, U.S. automobile and iPhones sales in the Chinese market will decline and imports of U.S. soybean and corn imports will be suspended.
The smartphone maker is one of the several major tech stocks such as Amazon, Facebook, and Alphabet that has suffered losses since Tuesday's elections as investor relocate their funds into financial and public works firms that are speculated to highly benefit from deregulation and infrastructure spending under President-elect Trump's administration.
News are provided byInstaForex.
Australia Unemployment Rate Steady At 5.6% In October
The unemployment rate in Australia came in at a seasonally adjusted 5.6 percent in October, the Australian Bureau of Statistics said on Thursday.
That was beneath expectations for 5.7 percent and unchanged from the September reading.
The Australian economy added 9,800 jobs in October - again missing expectations for an increase of 15,000 following the loss of 9,800 jobs in the previous month.
The participation rate was steady at 64.4 percent, shy of forecasts for 64.6 percent.
News are provided byInstaForex.
Cisco?s Disappointing Profit Guidance Sends Shares Lower
Cisco Systems Inc.'s adjusted profit estimate for the present quarter missed analysts' projections as the company's core business continues to struggle with weak demand, sending its shares tumbling by more than 4% in late hours trading.
The company said expects adjusted profit of 55-57 cents per share during the second quarter, falling under analysts' median estimate of 59 cents per share earnings on a $12.33 billion revenue.
The world's biggest networking gear maker has been stepping up its wireless and security divisions to counter the softness in its core switch and routers business, which is also struggling with strong competition from rival companies. Still, the newer business units are not expanding fast enough to offset the declines in its main networking division.
Revenue from the firm's switching business declined by 7% to $3.72 billion during the August-October period.Security business evenue climbed 11% to $540 million while revenue in the wireless unit dropped 2% to $632 million.
Net profit dropped 4.4% to $2.32 billion as revenue declined 2.6% to $12.35 billion, with earnings of 61 cents per share.
News are provided byInstaForex.
Usd/krw opened at 1181.0, Higher Than implied Ny Ndf Closing
Pair rises up to 1181.5, prints new 5 month high, last at 1180.6
USD bullish after Yellen's testimony hints at Dec rate hike
UST 10y yield climbs to highest since Dec 2015
Pair likely to test stoploss orders above 1200 psychological level
News are provided byInstaForex.
Gold Slips on Firm Dollar, Yellen Comments
Gold prices dropped to a 5-? month low as the dollar index reached a 13-1/2 year peak on upbeat U.S. economic data as well as comments by U.S. Federal Reserve Chairwoman Janet Yellen that boosted the chances for increasing rates in December. Spot gold fell 0.8 percent at $1,215.50 per ounce.
U.S. gold futures were down 0.6 percent at $1,216.90 an ounce. Gold moved lower as the greenback climbed to the highest since 2003 against a basket of six major currencies. Spot gold has lost nearly nine percent from its six-week high hit briefly following the U.S. election on Nov. 9. Latest data has shown the largest rise in U.S. consumer prices in six months and unemployment claims dropped to a 43-year low.
Among other precious metals, palladium climbed as much as 1.7 percent to $734.40, the highest since Aug.10. Palladium was down 0.7 percent at $937.60 per ounce and silver fell 1.9 percent to $16.64.
News are provided byInstaForex.
Japan Has Y496.174 Billion Trade Surplus
Japan had a merchandise trade surplus of 496.174 billion yen in October, the Ministry of Finance said on Monday.
That was shy of expectations for a surplus of 610.0 billion following the downwardly revised 497.6 billion yen deficit in September (originally 498.3 billion).
Exports were down 10.3 percent on year, missing forecasts for a fall of 8.5 percent following the 6.9 percent decline in the previous month.
Imports sank an annual 16.5 percent versus expectations for a decline of 16.1 percent after sliding 16.3 percent a month earlier.
News are provided byInstaForex.
Asia-Pacific Summit Calls for Free Trade
The leaders of the 21-Asia Pacific nation called for the resistance against protectionism amidst indications of raised free-trade speculation, emphasized by Donald Trump's win in the U.S. presidential election. The Asia Pacific Economic Cooperation forum also ended with a joint pledge to work on a new free trade agreement which will include all 21 members despite the political climate.
APEC has mentioned the "rising skepticism over trade" in between the uneven recovery since the financial crisis and stated that "the benefits of trade and open markets need to be communicated to the wider public more effectively, emphasizing how trade promotes innovation, employment and higher living standards." U.S. President Barack Obama said that one of the ways to address income inequality and to produce jobs is by coming up with a trade policy and agreements like the Trans-Pacific Partnership pact that can raise exports to the Pacific rim countries.
The statement of APEC has also mentioned that the members will conform to the carbon reduction goals to focus on climate change, a concern which they called a threat to food production and food security.
News are provided byInstaForex.
Fxwirepro: Usd/sgd Rejects Key Resistance at 1.4289, Short Term Trend Reversal Likely
USD/SGD is currently trading around 1.4218 marks.
It made intraday high at 1.4243 and low at 1.4201 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.4289 marks.
A sustained close above 1.4289 will test key resistances at 1.4336, 1.4443 and 1.4481 levels respectively.
Alternatively, a consistent close below 1.4216 will drag the parity down towards key supports at 1.4128/1.4046/1.3972/1.3819/1.3775/1.3704/1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
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 correction only.
We prefer to go short on USD/SGD around 1.4225 with stop loss at 1.4289 and target of 1.4132.
News are provided byInstaForex.
Dollar Retreats From 10-Day Rally
The dollar declined as investors gained profits on its longest rally in four years. The WSJ Dollar index fell 0.5 percent to 91.21.
The dollar rose for 10-straight sessions, its longest winning streak since May 2012. The greenback has jumped since the presidential election, with investors betting that President-elect Donald Trump's plans to raise fiscal spending and reduce taxes will bolster U.S. growth. Investors are growing more confident that the U.S. Federal Reserve will increase interest-rates in December. Fed-funds futures has shown a 95 percent likelihood of an interest-rate hike next month, according to CME Group data.
Emerging-market currencies rebounded against the dollar following a sharp sell off. The dollar fell 0.9 percent versus the Brazilian real, one percent versus the Mexican peso and 0.2 percent versus the Singapore dollar.
News are provided byInstaForex.