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Forex Forex News from InstaForex

Discussion in 'Forex Forum' started by InstaForex Gertrude, Sep 5, 2015.

  1. InstaForex Gertrude

    InstaForex Gertrude Active Member

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    Cryptocurrency market continues to fall

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    Bitcoin started Tuesday morning by moving sideways, as the coin traded at $16,134.

    According to cryptocurrency price tracking website CoinMarketCap, over the past 24 hours, bitcoin's highest price was $16,246, while its lowest was $15,599.

    At the same time, on Monday, bearish sentiment prevailed in the cryptocurrency market and BTC updated weekly lows below $16,000.

    Experts believe that bitcoin fell mainly due to the decline in U.S. stock indices on Monday. The S&P 500 index fell by 0.39%, the NASDAQ Composite fell by 1.09%, and the Dow Jones Industrial Average fell by 0.13%.

    Since the beginning of 2022 analysts increasingly began to emphasize the high level of correlation between the U.S. securities market and virtual assets amid tense expectations of both of the consequences of the geopolitical conflict in eastern Europe and the further steps of the U.S. Federal Reserve.

    Earlier, Arcane Research analysts already stated that bitcoin's correlation to tech stocks has climbed to highs not seen since July 2020.

    In addition, economists of analytical platform TradingView said that the correlation of the cryptocurrency market with the U.S. stock market in the past quarter reached 70%.

    Altcoin market
    Ethereum, bitcoin's main competitor, also started Tuesday with sideways movement. The coin was trading at $1,128.

    As for cryptocurrencies from the top 10 by capitalization, Polygon (+2.32%) had the best results, while Ethereum (-1.43%) had the worst.

    According to last week's results, Polygon coin (-13.99%) topped the list of the top ten strongest digital assets.

    According to CoinGecko, the world's largest aggregator of data on virtual assets, in the last 24 hours the Huobi Token (+11.13%) was in first place among the top 100 most capitalized digital assets in terms of growth, while the UNUS SED LEO (-13.91%) coin had the worst results.

    According to the results of the past week, the digital asset NEAR Protocol (-21.46%) showed the worst results among the top hundred of the strongest digital assets, while Litecoin (+7.63%) showed the best results.

    According to CoinGecko, as of Tuesday morning, the global cryptocurrency market cap failed to settle above the important key level of $850 billion and stands at $834.845 billion.

    Since November 2021, when the total market capitalization of cryptocurrencies exceeded the $3 trillion level, it has more than tripled.

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  2. InstaForex Gertrude

    InstaForex Gertrude Active Member

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    US stock market closes higher, Dow Jones gains 1.18%

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    At the close of the New York Stock Exchange, the Dow Jones rose 1.18% to a 3-month high, the S&P 500 rose 1.36% and the NASDAQ Composite rose 1.36%.

    The leading performer among the Dow Jones index components in today's trading was Intel Corporation, which gained 0.88 points or 3.04% to close at 29.82. Salesforce Inc rose 4.40 points or 3.04% to close at 149.25. Walgreens Boots Alliance Inc rose 1.20 points or 2.96% to close at 41.79.

    The least gainer was Walt Disney Company, which shed 1.37 points or 1.40% to end the session at 96.21. Amgen Inc was up 1.11 points (0.39%) to close at 287.05, while Boeing Co was down 0.44 points (0.25%) to close at 172.50. .

    Leading gainers among the components of the S&P 500 in today's trading were Best Buy Co Inc, which rose 12.78% to 79.88, Agilent Technologies Inc, which gained 8.08% to close at 156.86. as well as shares of CF Industries Holdings Inc, which rose 6.72% to close the session at 109.68.

    The least gainers were Dollar Tree Inc, which shed 7.79% to close at 152.37. Shares of Rollins Inc lost 6.14% to end the session at 39.53. Quotes of Medtronic PLC decreased in price by 5.30% to 77.93.

    Leading gainers among the components of the NASDAQ Composite in today's trading were Cosmos Holdings Inc, which rose 86.93% to hit 0.33, Palisade Bio Inc, which gained 81.08% to close at 4.02, and also shares of Motorsport Gaming Us LLC, which rose 51.11% to close the session at 6.80.

    The least gainers were Eqonex Ltd shares, which lost 32.81% to close at 0.14. Shares of WiSA Technologies Inc lost 21.56% and ended the session at 0.20. Quotes of AGBA Acquisition Ltd decreased in price by 22.94% to 4.87.

    On the New York Stock Exchange, the number of securities that rose in price (2345) exceeded the number of those that closed in the red (761), while quotes of 110 shares remained virtually unchanged. On the NASDAQ stock exchange, 2259 companies rose in price, 1542 fell, and 236 remained at the level of the previous close.

    The CBOE Volatility Index, which is based on S&P 500 options trading, fell 4.79% to 21.29, hitting a new 3-month low.

    Gold futures for December delivery added 0.07%, or 1.15, to $1.00 a troy ounce. In other commodities, WTI crude for January delivery rose 1.41%, or 1.13, to $81.17 a barrel. Futures for Brent crude for January delivery rose 1.22%, or 1.07, to $88.52 a barrel.

    Meanwhile, in the Forex market, EUR/USD rose 0.62% to hit 1.03, while USD/JPY shed 0.65% to hit 141.20.

    Futures on the USD index fell 0.63% to 107.05.

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  3. InstaForex Gertrude

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    Fed considers decelerating rate hike pace. Will US dollar slow down?

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    The European currency managed to outperform the US dollar by the end of the week. Following the release of the FOMC meeting minutes, USD significantly declined. Meanwhile, the euro managed to get a head start and use the situation to consolidate its positions.

    On Thursday, November 24, the US dollar fell considerably against other major currencies, especially against the euro. The decline was caused by increased risk appetite in the markets, which followed the release of the FOMC meeting minutes for November. In this situation, the euro rallied strongly, trying to recoup its earlier losses. Early on Thursday, EUR/USD was trading near 1.0435, advancing from its previous level of 1.0395.

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    On Wednesday, November 23, the Fed published the minutes of its November policy meeting, which indicated that the regulator plans to slow down the pace of interest rate hikes in the near future. This year, the Fed increased its benchmark rate six times. Most analysts (76%) expect the Fed to raise its interest rate again in December to a target range of 4.25%-4.5% from the current 3.75%-4%. This rate hike is expected to be smaller than the previous ones.

    As a result, the US currency has lost some of its gains. Disappointing macroeconomic data from the US also contributed to the drop of USD. The US dollar has come under strong bearish pressure after these reports. According to November data, the S&P Global Services PMI in the declined stronger than expected. At the same time business activity in the US service sector fell at an accelerated pace, with the S&P Global Services PMI dropping to 46.1 from 47.8 a month ago. The drop was attributed to weakening consumer demand and decreased volume of new orders, which hit the lowest level since May 2020.

    Furthermore, the S&P Global Manufacturing PMI slid down below 50 points in November. Analysts recorded a significant drop in business activity in the US manufacturing sector, with the S&P Global Manufacturing PMI dropping to 47.6 points from the previous 50.4 points. Falling output in the US exacerbated the decline. "In this environment, inflationary pressures should continue to cool in the months ahead, potentially markedly, but the economy meanwhile continues to head deeper into a likely recession," Chris Williamson, lead economist at S&P Global Market Intelligence said.

    Fed policymakers are concerned about the weaker US labor market. The regulator considers the situation in the US labor market to be a key policy gauge, along with inflation, and uses it when deciding on its monetary policy. A decline in the US labor market is a signal to the Fed that it is time to reduce the pace of rate hikes. Over the past week, the number of jobless claims in the US increased to 240,000. This trend has persisted since the end of September 2022, analysts say.

    The number of initial claims in the US hit the highest level since August 2022, well above the 225,000 claims forecasted earlier. At the same time the number of continuing claims rose to the highest point since March 2022 and stood at 1,551,000.

    Analysts have noted that the US labor market has begun to reverse, which would give strong support to EUR/USD. Such a situation is favorable for the stock market, but detrimental for the US dollar, as it implies the Fed would soften its hawkish stance.

    In the current situation the US dollar, which briefly retreated, took a pause, just like the Fed, which plans to reduce the pace of rate hikes. Analysts believe that USD will gather its strength and test its highs again in the near future. The US currency is likely to be successful in this scenario.

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  4. InstaForex Gertrude

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    EUROPEAN ECONOMICS PREVIEW: GERMANY GDP, GFK CONSUMER CONFIDENCE DUE

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    Quarterly national accounts and consumer sentiment survey results from Germany are due on Friday, headlining a light day for the European economic news.

    At 2.00 am ET, Germany's statistical office Destatis is slated to issue detailed GDP data for the third quarter. According to preliminary estimate, the economy had expanded 0.3 percent sequentially.

    In the meantime, the market research group GfK is set to release Germany's consumer sentiment survey results. The consumer sentiment index is forecast to rise to -39.6 in December from -41.9 in November.

    At 2.30 am ET, employment data is due from Switzerland.

    At 2.45 am ET, the French statistical office INSEE publishes consumer sentiment survey results. The consumer sentiment index is seen at 83 in November versus 82 in October.

    At 3.00 am ET, October producer prices figures are due from Spain. Also, unemployment data is due from Hungary.

    At 4.00 am ET, business and consumer sentiment survey results are due from Italy. The business confidence index is forecast to fall to 99.6 in November from 100.4 in October. Meanwhile, the consumer sentiment index is seen at 91.0 versus 90.1 a month ago.

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  5. InstaForex Gertrude

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    American stock indices are changing in different directions

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    There are no statistical releases scheduled for Friday. In this case, the session will be shortened and will end at 21:00 GMT+2. In this regard, trading activity is likely to be lower than usual, experts say. On Thursday, the exchanges did not work because of the public holiday - Thanksgiving Day.

    Meanwhile, a number of important indicators will be published in the near future, including revised data on changes in US GDP in the third quarter, as well as data on the state of the labor market in November. In addition, the country begins the season of active shopping before the holidays.

    Dow Jones Industrial Average by 18:02 GMT+2 increased by 0.4% and reached 34333.97 points.

    Among the components of the index, the top gainers were Home Depot Inc, up 1.8%, UnitedHealth Group up 1.4% and 3M Co. - by 1.2%.

    The value of the Standard & Poor's 500 by this time increased by 0.06% - up to 4029.69 points.

    At the same time, the Nasdaq Composite index fell by 0.39% since the market opened and amounted to 11241.63 points.

    Stock quotes for retailers Walmart Inc. and Target Corp. decrease respectively by 0.2% and 0.8% at the beginning of trading.

    Amazon.com Inc. price fell 1.1% on reports that employees at the online retailer's warehouses around the world, including the US, Germany and France, are planning protests on Friday demanding higher wages.

    Shares of Ford Motor fell 0.3% on news that the company is recalling more than 634,000 SUVs worldwide due to malfunctions.

    Tesla's value fell 1.2%. The company announced that it is recalling about 80,000 electric vehicles in China due to problems with software and seat belts.

    In addition, Apple Inc. papers are getting cheaper. - by 1.6%, Nike Inc. - by 0.6%, Intel Corp. - by 0.5%.

    At the same time, the share price of Chevron Corp. grows by 0.3%. According to media reports, the United States is preparing to grant this company a license to produce oil in Venezuela. Chevron will regain partial control of oil production in Venezuelan fields, in which the company has retained stakes through joint ventures with state-owned Petroleos de Venezuela SA.

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  6. InstaForex Gertrude

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    GOLD REBOUNDS ON DOLLAR PULLBACK

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    Gold rebounded on Tuesday, after having fallen around 1 percent in the previous session in the wake of hawkish comments from St. Louis Fed President James Bullard.

    Spot gold climbed 0.8 percent to $1,754.76 per ounce, while U.S. gold futures were up 0.8 percent at $1,753.40.

    The dollar fell against its rivals today as optimism surrounding China's reopening offset rate-hike fears.

    U.S. Treasury yields pulled back despite U.S. Fed officials James Bullard and John Williams reiterating their hawkish stance on further rate hikes.

    Euro zone government bond yields fell broadly after inflation in Spain and in Germany's most populous state came in below expectations.

    Financial markets ae excited about some sort of reopening in China, apparently to quell public anger against COVID-19 curbs.

    China reported a slight dip in new COVID-19 infections and also stepped-up support for the country's property sector, further aiding risk sentiment.

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  7. InstaForex Gertrude

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    CHINA MANUFACTURING PMI FALLS TO 48.0 IN NOVEMBER - NBS

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    The manufacturing sector in China continued to contract in November, and at a faster pace, the latest survey from the National Bureau of Statistics revealed on Wednesday with a manufacturing PMI score of 48.0. That missed expectations for a reading of 49.0 and was down from 49.2 in October. It also moved further beneath the boom-or-bust line of 50 that separates expansion from contraction. The report also showed that the non-manufacturing PMI fell to 46.7 from 48.7 in October, while the general PMI dropped to 47.1 from 49.0.

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  8. InstaForex Gertrude

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    JAPAN MANUFACTURING SECTOR CLIPS INTO CONTRACTION - JIBUN

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    The manufacturing sector in Japan fell into contraction in November, the latest survey from Jibun Bank showed on Thursday with a manufacturing PMI core of 49.0.

    That's down from 50.7 in October, and it moves beneath the boom-or-bust line of 50 that separates expansion from contraction.

    Contributing to the sub-50.0 PMI reading was a sharper contraction in output levels at Japanese manufacturing companies. The downturn was the strongest since August 2020 and reportedly resulted from weak customer demand. Reflective of the trends in output was a further contraction in order books. The decline was the fastest since August 2020 amid reports of cooling market demand and ongoing price pressures.

    Foreign demand also declined and at a pace that was the sharpest since July 2020. Panel members suggested that overseas clients were looking to downwardly adjust inventory levels.

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  9. InstaForex Gertrude

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    AUSTRALIA HOME LOANS DROP 2.9% IN OCTOBER

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    The value of owner-occupied home loans issued in Australia in October was down a seasonally adjusted 2.9 percent on month, coming in at A$17.16 billion.

    That exceeded expectations for a decline of 4.5 percent following the 9.3 percent drop in September.

    On a yearly basis, home loans stumbled 17.2 percent.

    Investment lending fell 2.2 percent on month and 17/0 percent on year to A$8.62 billion.

    Overall lending shed 2.7 percent on month and 17.1 percent on year to A$25.79 billion.

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  10. InstaForex Gertrude

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    SINGAPORE PRIVATE SECTOR SLOWS IN NOVEMBER - S&P GLOBAL

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    The private sector in Singapore continued to expand in November, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a PMI score of 56.2.

    That's down from 57.7 in October, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

    Private sector activity continued to expand at a robust pace midway into the final quarter of 2022 but saw the rate of expansion moderate from October's high. Survey respondents remarked that virus-related disruptions underpinned the slowdown. Indeed, lead times lengthened at a substantial rate in November amid reports of COVID-19 related delays and manpower constraints.

    Overall demand, including external demand, meanwhile remained a key driver behind the growth in activity but likewise saw the rate of expansion slow in November.

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  11. InstaForex Gertrude

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    AUSTRALIA CENTRAL BANK LIFTS RATE BY 25 BPS

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    Australia's central bank raised its key interest rate by a quarter point again on Tuesday, as widely expected.

    The policy board of the Reserve Bank of Australia, headed by Governor Philip Lowe, decided to lift the cash rate target by 25 basis points to 3.10 percent.

    The board reiterated that it expects to increase interest rates further over the period ahead, but it is not on a pre-set course.

    The size and timing of future interest rate increases will continue to be determined by the incoming data and the Board's assessment of the outlook for inflation and the labor market, the bank repeated.

    Policymakers observed that that monetary policy operates with a lag and that the full effect of the increase in interest rates is yet to be felt in mortgage payments. Household spending is likely to slow although the timing and extent of this slowdown is uncertain.

    "The path to achieving the needed decline in inflation and achieving a soft landing for the economy remains a narrow one," Governor Philip Lowe said.

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  12. InstaForex Gertrude

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    AUSTRALIA GDP CLIMBS 5.9% ON YEAR IN Q3

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    Australia's gross domestic product expanded 5.9 percent on year in the third quarter of 2022, the Australian Bureau of Statistics said on Wednesday.

    That was shy of expectations for an increase of 6.2 percent and up from 3.6 percent in the three months prior.

    On a seasonally adjusted quarterly basis, GDP picked up 0.6 percent - again missing forecasts and slowing from 0.9 percent in the previous three months.

    Capital expenditure was down 0.2 percent on quarter after rising 0.2 percent in Q2, while the GDP deflator added 0.2 percent on quarter after jumping 3.3 percent in the second quarter.

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  13. InstaForex Gertrude

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    The US stock market closed mixed, Dow Jones did not rise in price

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    At the close of the day on the New York Stock Exchange, the Dow Jones did not rise in price, the S&P 500 index fell 0.19%, the NASDAQ Composite index fell 0.51%.

    The leading performer among the components of the Dow Jones index today was 3M Company, which gained 1.77 points (1.42%) to close at 126.35. Merck & Company Inc rose 1.16 points or 1.06% to close at 110.09. Amgen Inc rose 0.87% or 2.47 points to close at 285.76.
    The biggest losers were Salesforce Inc, which shed 2.79 points or 2.09% to end the session at 130.48. Apple Inc. shares rose 1.97 points (1.38%) to close at 140.94, while Boeing Co was down 1.93 points (1.08%) to close at 176.50.

    Leading gainers among the S&P 500 index components in today's trading were State Street Corp, which rose 8.19% to hit 80.45, Campbell Soup Company, which gained 6.02% to close at 56.18, and also shares of Bank of New York Mellon, which rose 4.13% to close the session at 44.61.
    The biggest losers were M&T Bank Corp, which shed 7.72% to close at 147.97. Shares of Brown Forman lost 7.30% to end the session at 68.27. Expedia Inc (NASDAQ:EXPE) dropped 6.32% to 90.79.
    Leading gainers among the components of the NASDAQ Composite in today's trading were Prometheus Biosciences Inc, which rose 165.67% to hit 95.80, Transcode Therapeutics Inc, which gained 133.44% to close at 0.98, and also shares of Vor Biopharma Inc, which rose 41.86% to end the session at 6.10.
    The biggest losers were Ensysce Biosciences Inc, which shed 53.36% to close at 1.04. Shares of Versus Systems Inc lost 46.98% and ended the session at 0.79. Bruush Oral Care Inc Unit fell 46.95% to 0.50.
    On the New York Stock Exchange, the number of securities that fell in price (1608) exceeded the number of those that closed in positive territory (1466), while quotes of 134 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,196 companies fell in price, 1,487 rose, and 198 remained at the level of the previous close.
    The CBOE Volatility Index, which is based on S&P 500 options trading, rose 2.30% to 22.68.
    Gold futures for February delivery added 0.91%, or 16.30, to $1.00 a troy ounce. In other commodities, WTI futures for January delivery fell 2.40%, or 1.78, to $72.47 a barrel. Futures for Brent crude for February delivery fell 2.28%, or 1.81, to $77.54 a barrel.
    Meanwhile, in the forex market, the EUR/USD pair was unchanged 0.38% to 1.05, while USD/JPY fell 0.38% to hit 136.52.
    Futures on the USD index fell 0.40% to 105.12.

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