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U.S. Stock Closed Mixed Ahead of Trump Conference
U.S. stocks finished mixed, as the dollar weakened against the yen while investors were cautious ahead of U.S. President-elect Donald Trump's news conference. The Nasdaq Composite hit an intraday high, extending its rally as healthcare stocks advanced for the sixth consecutive session.
The Dow Jones industrial average edged down 0.2 percent to 19,855.53, the S&P 500 was little changed at 2,268.90 while the Nasdaq Composite climbed 0.4 percent to 5,551.82. Caution surrounded the financial markets as the elation regarding Trump's anticipated pro-growth policies faded with Congress holding hearings for his proposed cabinet members. Delta Air Lines Inc. is scheduled to begin the S&P 500 earnings season, with analysts predicting profits for firms in the index grew by 3.8 percent the last quarter.
Seven of the 11 major S&P sectors gained, led by advances of 0.69 percent in industrials. However, the 0.66 percent rise of the financials gave the largest boost. Healthcare stocks was 0.44 percent higher while biotechs climbed 0.5 percent. The Russell 2000 rose by one percent to pull up its post-election advances back towards 15 percent. The measure gained as much as 20 percent in the months following Trump's victory.
News are provided by InstaForex
Japan Has Y1.415 Trillion Current Account Surplus
Japan had a current account surplus of 1.415 trillion yen in November, the Ministry of Finance said on Thursday - up 28.0 percent on year.
The headline figure was shy of expectations for a surplus of 1.460 trillion yen and down from 1.719 trillion yen in October.
The trade balance showed surplus of 313.4 billion yen - exceeding forecasts for 254.4 billion yen and down from 587.6 billion yen in the previous month.
Exports were down 0.8 percent on year to 5.890 trillion yen, while imports tumbled 10.7 percent to 5.577 trillion yen.
News are provided byInstaForex.
Gold Edged Higher After Trump Conference
Gold inched higher to hold near 7-week peaks it hit in the previous session, while the dollar fell after Donald Trump gave some form of clarity regarding future fiscal policies during his first press conference as U.S. president-elect. U.S. gold futures were down 0.2 percent to $1,193.70 an ounce. Spot gold climbed 0.2 percent at $1,193.31 an ounce.
Bullion hit a peak of $1,198.40, its best since Nov. 23. Trump's campaign calls for lower taxes and further infrastructure spending have boosted the dollar, along with a driving selloff in Treasuries, however, his protectionist remarks and the series of off-the-cuff Tweets kept many investors from adding to risky positions. Meanwhile, investors expect palladium to gain benefit from tax cuts and higher government spending in the major car markets of the U.S. and China to raise auto sales.
Silver climbed 0.5 percent at $16.70, however, remained below Tuesday's four-week peak of $16.90. Platinum was down 0.4 percent to $974.50 from a previous two-month high at 982.60 while palladium fell 1.3 percent to $754.20 per ounce, slightly near Monday's five-week peak of $768.10.
News are provided byInstaForex.
Yen Falls Against Majors
The Japanese yen weakened against the other major currencies in the Asian session on Friday.
The yen fell to 122.14 against the euro, 139.93 against the pound and 113.85 against the Swiss franc, from yesterday's closing quotes of 121.72, 139.45 and 113.42, respectively.
Against the U.S. and the Canadian dollars, the yen dropped to 115.11 and 87.54 from yesterday's closing quotes of 114.71 and 87.25, respectively.
If the yen extends its downtrend, it is likely to find support around 124.00 against the euro, 146.00 against the pound, 115.00 against the franc, 119.00 against the greenback and 89.00 against the loonie.
News are provided byInstaForex.
US court renews battle over iPhone apps monopoly
Apple Inc. is facing a renewed battle claiming it attempted to dominate the market for iPhone applications between 2007 and 2013.
On Thursday, a San Francisco-based appeals court in rekindled the planned class-action suit following a lower federal court judge rejected it. The panel stipulated the judge committed a mistake in stating the consumers hold insufficient standing to file a case as direct buyers of apps.
A spokesperson for the tech giant refused to shed light on the court's verdict. Initially lodged in 2011, consumers argued Apple breached the US antitrust legislation by obligating iPhone apps to be sold at the App Store and restricting independent app developers from advertising the software outside the platform.
Plaintiffs' lawyer Mark Rifkin said million of customers should manage to regain most of the company's 30% cut from sales in the app store.
Although it has not yet secure a class-action status, Rifkin said they may attempt to expand the scope of the lawsuit to include those who have purchase iPhone apps to the present.
News are provided byInstaForex.
Fxwirepro: Usd/jpy Trades in Narrow Range After Japan?s Core Machinery Orders, Ppi Data
USD/JPY is currently trading around 114.33 marks.
It made intraday high at 114.45 and low at 114.09 levels.
Intraday bias remains neutral till the time pair holds key support at 114.00 levels.
A daily close above 115.50 will take the parity higher towards key resistances around 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.
On the other side, a sustained close below 113.98 will drag the parity down towards key supports around 113.13, 112.05, 111.35, 110.85, 109.72, 106.72, 106.03 and 104.96 levels respectively.
Japan?s November machinery orders m/m decreases to -5.1 % (forecast -1.7 %) vs previous 4.1 %. Japan?s November machinery orders y/y increases to 10.4 % (forecast 8.1 %) vs previous -5.6 %. Japan?s December corporate goods price m/m increases to 0.6 % (forecast 0.3 %) vs previous 0.4 %.
News are provided byInstaForex.
JPMorgan Asset Management Fund Outperforms as it Kept Shorter-Maturity Securities
JP Morgan's own $2.4 billion Global Bond Opportunities Fund has trimmed its average duration in U.S. securities to three years from more than five in July, and has leaped into the domestic debt of Russia and Brazil. Bond investors are facing some hurdles since the global-reflation trades that ignited following the November U.S. presidential election victory for a fiscal-stimulus proposal by Donald Trump.
The firm is upbeat on the local-currency bonds of Russia and Brazil as their economies are expected to rebound, according to Stealey. The domestic debt issued by Russia returned 2.2 percent while Brazil returned 4.7 percent in the previous month as of Jan. 12, as shown by indexes compiled by Bloomberg. Brazil's 10-year notes offer a yield of nearly 11 percent while Russia's is at almost eight percent, in comparison with nearly 2.4 percent for similar-maturity U.S. debt.
The fund's strategy includes the mix of both local currency and dollar-denominated emerging-market bonds which have been increased to 15 percent of the portfolio from 12 percent.
News are provided byInstaForex.
Australia Home Loans Advance 0.9% In November
The total number of new home loans in Australia issued in November climbed a seasonally adjusted 0.9 percent on month, the Australian Bureau said on Tuesday - standing at 54,603.
That beat forecasts for a flat reading following the 0.8 percent decline in October.
Loans for the purchase of established dwellings gained 0.6 percent to A$46.139 billion, while loans for the purchase of new dwellings jumped 3.3 percent to A$2.755 billion and loans for the construction of new dwellings gained 2.3 percent to A$5.710 billion.
The number of first home buyer commitments jumped 13.4 percent to 8,281 in November from 7,302 in October. The number of first home buyers as a percentage of total owner occupier commitments rose from 13.7 percent to 13.8 percent.
The value of loans was up 0.4 percent on month to A$19.930 billion after sliding 0.8 percent in the previous month.
Investment lending advanced 4.9 percent to A$13.269 billion after gaining 0.7 percent a month earlier.
The total value of dwelling finance commitments excluding alterations and additions gained 2.2 percent to A$33.199 billion.
Also on Tuesday, the ABS said that the total number of new motor vehicle sales in Australia was up a seasonally adjusted 0.3 percent on month in December, standing at 97,305. That follows the 0.6 percent decline in November.
By category, sales for passenger vehicles shed 0.2 percent on month, while and Sports utility vehicles fell 1.0 percent and sales for other vehicles gained 0.3 percent.
By region, sales fell 1.4 percent on month in Western Australia and advanced 1.7 percent in the Australian Capital Territory.
On a yearly basis, new car sales were up 0.2 percent after slipping 1.1 percent in the previous month.
News are provided byInstaForex.
High-Speed Traders Drive 80% of Bitcoin Trading
Professional traders loaded with cutting-edge technology currently drive nearly 80 percent of bitcoin trading, resembling strategies done by some of the major players on Wall Street. Volumes followed by Bitcoinity.org have soared to a record high in January, which raises the chances for high-speed traders to gain profit.
The market structure of the cryptocurrency provides arbitrage opportunities across multiple exchanges, zero transaction costs on Chinese venues, day and night trading, and co-location services which allow individuals to place their servers right next to the exchange. Chen Zhenguo, who founded China's biggest platform for facilitating bitcoin strategies, claimed he's generated annualized gains of 50 percent for his own account. The cryptocurrency's price fluctuations have impeded some high-speed companies, as the increasing dominance of trades raises the question of how long the opportunities will last.
Bitcoin's current market value is around $13.5 billion, against $6.5 trillion for Chinese equities. The cryptocurrency climbed 0.1 percent to $833.92.
News are provided byInstaForex.
Fxwirepro: Eur/krw Hits Fresh 4-Week Low at 1,239, Upside Limited
EUR/KRW is currently trading around 1,246 mark.
Pair made intraday high at 1,246 and low at 1,239 levels.
Intraday bias remains neutral till the time pair holds immediate resistance at 1,257 mark.
A consistent close below 1,241 will drag the parity down towards key supports around 1,232, 1,229, 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
Alternatively, a sustained close above 1,241 will take the parity higher towards key resistances around 1,257, 1,262, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.
Seoul shares open up 0.09 pct at 2073.77.
We prefer to take short position on EUR/KRW around 1,248, stop loss at 1,257 and target of 1,239/1,232.
News are provided byInstaForex.