OctaFX_Farid Posted September 30, 2013 Author Share Posted September 30, 2013 USD/CAD doji signifying easing of bear trend FXstreet.com (London) - USD/CAD has printed a high of 1.0319 and a low of 1.0273 whilst the pair is down -0.22% and currently trading at 1.0284. Research teams at TD Securities explained that USD/CAD’s short-term technical performance looks a little wanting. “The rebound in spot seen over the course of last week is showing signs of rolling over as the 38.2% retracement of the 1.0560/1.0185 move lower caps USD gains for the moment”. The Short-term oscillator studies are tracking lower, they said, suggesting that the market may put a little more pressure on the mid/upper 1.02 support area in the next day or so. USD/CAD Levels TD Securities strategists said, intraday, look for resistance at 1.0340/50. “After some relatively positive weekly signals (a large bull “hammer” two weeks ago and a small doji candle last week which suggest to us that broader bear pressure on USD/CAD is easing), early price action so far this week has been rather soft in funds. Last week’s 1.0341 high represents near-term resistance for the market but we would not be able to get really constructive on the broader outlook for the USD unless the market traded through the low 1.04 area at the moment”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 30,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 30, 2013 Author Share Posted September 30, 2013 EUR/USD settles below 1.3550 FXstreet.com (Córdoba) - The rally of the euro against the dollar stalled at the 1.3555 zone during the New York session as investors refrain from taking big positions in an uncertain environment. On one hand, there is political turmoil in Italy after Berlusconi's decision to withdraw his party's support from the coalition government over the weekend. On the other hand, the US is one inch away from a fiscal shutdown. Lawmakers have until midnight to pass an emergency measure to keep the federal government running starting Tuesday, the beginning of the 2014 fiscal year. EUR/USD failed to break above the 1.3555 zone and entered in a consolidation phase that has extended over the last hours. At time of writing, EUR/USD is trading at the 1.3530 area, still 0.3% above its opening price. EUR/USD technical outlook From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that short term technical readings maintain a bullish tone, "all of which leaves little room to the downside despite the ongoing risk aversion sentiment among investors". Bednarik locates immediate resistances at 1.3570 and 1.3615, while she sees supports at 1.3490, 1.3460 and 1.3420. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 30,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 1, 2013 Author Share Posted October 1, 2013 USD/JPY - Abe hikes sales tax and announces stimulus, but is it enough? FXstreet.com (London) - Japanese Prime Minister Shinzo Abe has announced that the government will raise the national sales tax to 8 percent in April from 5 percent, with the tax hike being softened by a further government stimulus. The announcement has driven the USD/JPY down to JPY97.7405, down 0.57 percent so far. The Bank of Japan predicts that the hike will draw in an additional JPY8 trillion in tax receipts. However, the Japanese PM has announced that the hike will coincide with a JPY5 trillion stimulus package. The tax hike is part of Abe’s attempts to address the country’s huge budget deficit, running at 10 percent of GDP. In contrast with the trend in most of the major economies, where fiscal contraction policies have gone hand-in-hand with monetary expansion, Japan has pursued a policy of ultra-loose monetary policy with aggressive government stimulus programmes as the country tries to escape deflationary pressures. With an economy where the Japanese consumer just will not spend, a sales tax hike is a risky manoeuvre. And even if Abe’s policies to generate the predicted revenues, at the current rate they would quickly be consumed by the country’s out of control government spending. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01,2013 OctaFX.Com News Updates EUR/USD still wavering around 1.3550 FXstreet.com (Córdoba) - The EUR/USD continues to waver above 1.3500 Tuesday as the kneejerk reaction of reaction to the US shutdown faded, giving the greenback some respite. Risk aversion receded a tad following a positive opening in Wall Street and in-line-with-expectations Markit manufacturing PMI. EUR/USD is currently trading at the 1.3550 area, up 0.2% on the day, as the most recent correction was contained by the 1.3535 zone. EUR/USD technical outlook From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com, notes that the pair holds a pretty positive tone with the 20-hour SMA offering short term support around 1.3535. However, Bednarik notes that the EUR/USD presents a more neutral stance in 4-hour charts. "The upside is favored towards 1.3610/20 area in the short term, and eyeing 1.3710 for the upcoming sessions", the analyst said. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 01,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 2, 2013 Author Share Posted October 2, 2013 US: ISM New York Index down to 53.6 in September FXstreet.com (Barcelona) - The ISM New York Index fell to 53.6 in September, from 60.5 in October, according to data released by NAPM-New York. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 02,2013 OctaFX.Com News Updates GBP/USD deflates to 1.6230 FXstreet.com (Edinburgh) -The bullish momentum around the sterling is losing steam at the moment, with the GBP/USD hovering over 1.6230/25 after hitting fresh multi-month highs around 1.6260. GBP/USD following risk The 1.6250/60 band seems to be quite a tough barrier for the pair so far, proved by the recent unsuccessful attempts to follow through it despite the favourable risk-on atmosphere. The pair managed to comfortably leave the poor result from the Construction PMI in the UK behind, missing estimates and coming in lower than the August’s reading. “As noted of late, recent gains are now “stretched”, despite the more positive stance in weekly charts. Any slippage below 1.6100 should now raise some concern, though the risk of unraveling recent gains would only develop on a close below the interim 1.5955 of late September”, suggested Tim Riddell, Head of Global Markets Research at ANZ. GBP/USD relevant levels As of writing, the pair is up 0.23% at 1.6233 with the next resistance at 1.6300 (psychological level) followed by 1.6380 (2013 high Jan.2) and then 1.6400 (psychological level). On the flip side, a break below 1.6162 (low Oct.2) would expose 1.6100 (low Sep.30) and finally 1.6092 (MA10d). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 02,2013 OctaFX.Com News Updates EUR/USD consolidates below 1.3600 FXstreet.com (Edinburgh) -The shared currency keeps the upper band of today’s range, with the EUR/USD meandering around 1.3580/1.3600. EUR/USD boosted by Italy, ECB The single currency found extra oxygen after Italian PM Enrico Letta won the confidence vote in the Senate (235-70), leaving behind the political unease after last weekend’s events. Recall that ‘Il Cavaliere’ Silvio Berlusconi ordered PdL’s parliamentary members to withdraw their support to the Government, triggering once again another political crisis in the peninsula. Further impulse came in after the ECB meeting and press conference by President Mario Draghi. A repetition of past comments and announcements disappointed investors, who were expecting a dovish tone. EUR/USD relevant levels The pair is now advancing 0.44% at 1.3587 with the next resistance at 1.3660 (high Feb.4) followed by 1.3711 (2013 high Feb.1) and finally 1.3800 (psychological level). On the downside, a break below 1.3505 (low Oct.2) would aim for 1.3500 (psychological level) and then 1.3467 (low Sep.30) OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 02,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 3, 2013 Author Share Posted October 3, 2013 EUR/USD muted on US Claims FXstreet.com (Edinburgh) -The euro remained mostly indifferent after the Initial Claims came in below expectations, with the EUR/USD hovering over 1.3600 the figure. EUR/USD indifferent after data The pair is trading unchanged on Thursday, after Initial Claims dropped to 308K in the week ended on September 27th, surpassing estimates at 313K albeit a tad higher than the previous week print at 308K. Next on tap will be the ISM Non manufacturing, with prior estimates pointing to a decrease to 57.4 during September. EUR/USD key levels The pair is now advancing 0.19% at 1.3604 with the next resistance at 1.3623 (high Oct.3) followed by 1.3660 (high Feb.4) and then 1.3711 (2013 high Feb.1). On the downside, a break below 1.3578 (low Oct.3) would clear the way to 1.3526 (MA10d) and finally 1.3505 (low Oct.2). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 3, 2013 Author Share Posted October 3, 2013 USD/JPY lower on weaker US labor data excluding furloughed workers FXstreet.com (Athens) – The USD/JPY is heading lower after the US initial jobless claims release, proved to be slightly weaker than expected but it is logically much worse as it doesn’t reflect the more than 800.000 workers furloughed due to government’s shutdown. USD/JPY under pressure as initial jobless claims become more baffling than ever The USD/JPY was hovering around 97.65 before the release of the US labor data, but after the data released across the board at a slightly weaker level, the cross started to move downwards, as the greenback got under renewed pressure across the board. We could consider that the real fact that the American dollar got under pressure, dragging down the pair almost 10 pips nearly 97.55 area, was not that the initial jobless claims increased by 1000 to a seasonally adjusted 308.000 in the week ended as of the 28th September. The careful reader should see behind the curtains; the figure released by the Labor Department has a lot of drawbacks. After California, Nevada it’s now the 800,000 not included in data First of all, it doesn’t conclude the more than 800.000 workers furloughed due to government’s shutdown. What’s more, Federal furloughs won't show up in forthcoming claims data, according to the US Department of Labor. Finally, we should take for granted that anyhow the data is distorted enough not only because does not include the furloughed workers but also due to the fact that the 4-week moving average of claims includes the weeks when California and Nevada underreported claims due to the computer system upgrades. On the other hand, Fed officials would well see the 800,000 furloughed workers more as a “temporary layoff”, therefore it will not influence their decision on the debt-ceiling. Technical Outlook on the USD/JPY Emmanuel Ng of OCBC Bank, suggests “that with the pair is under considerable downside pressure. Having punctured the 98.00 level convincingly, the next support of consequence is only expected towards the 200-day MA (96.58). Structurally, the USD is expected to remain laden on the back of the fiscal impasse while any deterioration in global risk appetite levels may also weigh on the JPY-crosses.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03,2013 OctaFX.Com News Updates USD/JPY extends decline below 97.30 FXstreet.com (San Francisco) - The Dollar is getting hurt today's session following the weaker than expected jobless claims and ISM non-manufacturing reports. Against the Japan Yen, the Greenback is now trading around 97.30. After declining around 55 pips from 97.85 to break below 97.50, the USD/JPY has reached intra-day lows around 97.25. Currently the pair is pricing at 97.32, almost flat on the day. Short term perspective is slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI and Momentum are pointing to the south while the Stochastic and MACD are neutral. USD/JPY Technical Bias According to FXstreet.com Chief Analyst Valeria Bednarik, "USD/JPY attempt to recovery halted around 97.80, with the pair turning back south early US session." Support levels are at 97.20, 96.80 and 96.40. Resistance levels are at 98.00, 98.40 and 98.80. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 4, 2013 Author Share Posted October 4, 2013 Flash: The USD/JPY looking for slide to 200 day ma - Commerzbank FXstreet.com (Athens) – Karen Jones, Head Technical Analyst at Commerzbank suggests that the USD/JPY hasn’t changed. Key Quotes “The market remains under pressure and is on course for the 200 day ma at 96.63, the August low at 95.80 and the 95.58 5 month support line. This is expected to hold the downside and provoke reversal.” “The short term resistance line offers initial resistance at 98.32 ahead of the 100.62 September high then 101.54/60 July high and the Fibonacci retracement.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 04,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 8, 2013 Author Share Posted October 8, 2013 EUR/JPY ready to retest 132.00 area FXstreet.com (Athens) – The EUR/JPY has been constantly trading upwards since the kick-off of the early trading session in Asian – apart from a couple of hours after the dismal release of the German factory data – and now ‘flirting’ again with 132.00 zone EUR/JPY threatens seriously 132.00 area, being both in uptrend momentum and oversold The EUR/JPY is trading nearly the 132.00 key zone the last hour, despite the fact that the US fiscal budget “jitters” continue to elevate. The cross did only made a mini pause after the release of the dismal factory data pertaining to the factory orders of the power horse of Germany. However, it soon pares its losses and is heading north gain, ready to cross again the resistance as of 132.00 area. Traders should bear into major consideration that from a technical perspective of view, the daily graph depicts clearly an uptrend momentum combined with an oversold momentum, which in plain English is very positive for the cross. Technical Outlook on EUR/JPY Greg Gibbs, FX Strategist at RBS feels “that many investors may be starting to see an end to the Euroland crisis. Current levels of EUR/JPY provide a good entry level for long positions if you are prepared to bet on the US avoiding the worst case fiscal debt ceiling scenario.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 08,2013 OctaFX.Com News Updates USD/JPY continues to gain on debt ceiling speculation FXstreet.com (London) - USD/JPY has been the bellwether pair of the US debt ceiling stand-off, with the yen strengthening into any fears that Congress will fail to pass a bill to extend the limit before October 17. Today has seen the yen falling from its eight-week highs on speculation that there will be a breakthrough in the deadlock that has led to the first US government shutdown in 17 years. But despite market sentiment, there seems to be little in the way of reassuring language coming from The Hill. Republican House Speaker John Boehner has maintained that the House will not pass a “clean” debt limit extension bill, ie. one that does not include provisions for a cut in federal spending. However, the Democrat-controlled senate will not approve anything that comes with policy riders, particularly that would delay the implementation of the Affordable Care Act. Treasury Secretary Jacob Lew has warned that congress is “playing with fire” over the debt ceiling. He will answer questions about the debt ceiling in front of the Senate Finance Committee, on Thursday, which pay present an opportunity for Republicans to ascertain areas of potential compromise. USD/JPY has gained 0.46 percent so far today, after touching a session high of JPY97.2415. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 08,2013 OctaFX.Com News Updates USD/JPY continues to gain on debt ceiling speculation FXstreet.com (London) - USD/JPY has been the bellwether pair of the US debt ceiling stand-off, with the yen strengthening into any fears that Congress will fail to pass a bill to extend the limit before October 17. Today has seen the yen falling from its eight-week highs on speculation that there will be a breakthrough in the deadlock that has led to the first US government shutdown in 17 years. But despite market sentiment, there seems to be little in the way of reassuring language coming from The Hill. Republican House Speaker John Boehner has maintained that the House will not pass a “clean” debt limit extension bill, ie. one that does not include provisions for a cut in federal spending. However, the Democrat-controlled senate will not approve anything that comes with policy riders, particularly that would delay the implementation of the Affordable Care Act. Treasury Secretary Jacob Lew has warned that congress is “playing with fire” over the debt ceiling. He will answer questions about the debt ceiling in front of the Senate Finance Committee, on Thursday, which pay present an opportunity for Republicans to ascertain areas of potential compromise. USD/JPY has gained 0.46 percent so far today, after touching a session high of JPY97.2415. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 08,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 9, 2013 Author Share Posted October 9, 2013 AUD benefits from Yellen bounce ahead of tomorrow's job numbers FXstreet.com (London) - AUD has rallied strongly in advance of President Obama’s nomination of Janet Yellen as the successor to US Federal Reserve Chairman Ben Bernanke. The ultra-dovish Yellen is seen as likely to be slow in tapering the Fed’s USD85bn monthly asset purchase programme, continuing to provide cheap liquidity to the markets. Despite being a foregone conclusion since Larry Summers’ resignation from the race in September, the confirmation of Yellen’s nomination has helped to rally AUD/USD 0.32 percent to USD0.9454. The Aussie dollar has been helped in anticipation of continuing commodity price support from the Fed. A further temporary AUD boost could be in store tomorrow, when it is anticipated that payroll numbers will show a September increase, aided by temporary workers hired during the general election. However Australia is still struggling with unemployment at a four-year high of 5.8 percent – something that could lead to the already dovish Reserve Bank of Australia to further slash its historic low 2.5 percent benchmark rate. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 09,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 9, 2013 Author Share Posted October 9, 2013 EUR/GBP bid making fresh highs FXstreet.com (London) - EUR/GBP has made two attempts to the upside, reaching a high of 0.8488 on the session. Research teams at TD Securities noted that data releases from the calendar and said, “UK data this morning were all around disappointing, with industrial and manufacturing production as well as trade data for August all notably missing expectations”….the releases knocked GBP/USD lower. The BoE tomorrow should be a non-event with no change to the policy rate or the asset purchase program…the one clear risk is that this is the month they decide to start releasing their monthly statements leaving some potential for GBP shock”. And with regards to the EZ, they said, “An upside surprise to German industrial production data was the key fundamental development in the Eurozone overnight, but did little to offset the pressure on EUR/USD from earlier in the session”. EUR/GBP Levels The 20 DMA is 0.8406, the 50 DMA is 0.8499 and the 200 DMA is 0.8518. RSI (14) 63.84. Supports are ascending from 0.8365, 0.8376, 0.8404, 0.8424, 0.8439, 0.8463, 0.8475, 0.8488 and 0.8505. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 09,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 10, 2013 Author Share Posted October 10, 2013 Flash: staring at the debt ceiling, risk of a 2013 downgrade? – Rabobank FXstreet.com (London) - Research teams look at the market implications around a possibility of Republicans and Democrats failing to reach an agreement in time. Key Quotes: “We look back at the debt ceiling events of 2011 to get an idea what kind of market reaction we can expect before and after the debt ceiling deadline of October 17.Interestingly, they suggest only modest safe have flows before the deadline, as the perceived risk of a default remains low”. “The large declines in the 10y US treasury yield in 2011 occurred after the deal to raise the debt ceiling was made, first because of the perceived risk of a downgrade, then because S&P actually pulled the trigger". “However, the budget deficit has fallen substantially this year and the fiscal projections have also improved. This makes a downgrade in 2013 less likely, so the market impact of this year’s debt ceiling deadline should be less violent, unless Republicans and Democrats fail to reach an agreement in time". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 10,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 11, 2013 Author Share Posted October 11, 2013 GBP/USD turns negative FXstreet.com (Córdoba) - Following another failed attempt at 1.6000 and weighed by disappointing UK construction, the GBP/USD retreated to the 1.5950 area, turning intraday negative during the New York session. The GBP/USD found interim support at the 1.5970 zone, but as the greenback picked up strength, the Cable dropped to a fresh low of 1.5945 before finding support. GBP/USD has recovered slightly and it is currently trading around 1.5955, still 0.1% below its opening price. GBP/USD technical levels In terms of technical levels, if GBP/USD breaks below 1.5945, next supports are seen at 1.5915 (Oct 9 & 10 lows) and 1.5900 (psychological level). On the upside, resistances could be found at 1.6000 (psychological level) and 1.6050 (20-day SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 11,2013 OctaFX.Com News Updates USD/CHF consolidates 0.9120 winning front FXstreet.com (Chicago) - USD/CHF sustains gains for a 0.57% wining week back above the 0.91 zone amid a possible conflict resolution between democrats and republicans putting an end to the shutdown. Shutdown continues Yesterday, republicans agreed on short-term plan to increase the debt ceiling and gain time before it is too late for a US default. After a couple of hours of silence, president Obama said he would not approve the proposal leaving the country with uncertainty. Although Boehner worked overnight trying to negotiate, the shutdown continues despite rally triggered on hopeful spark that sent the equity markets to 9-month highs. On earlier data in the US, the Reuters/Michigan consumer sentiment index for October was 75.2 vs. expected 76 and past 77.5. Ahead of the Governor Board Member Danthine speech in Switzerland, the pair sustains gains above the 0.9120 zone. USD/CHF Technical Levels Technically speaking, the pair is offered at 0.9123 and oscillates between supports aligned at 0.9081 (October 4th highs), 0.9017 (October 9th lows) ahead of 0.8964 (October 4th lows) and the resistances set at 0.9139 (September 25th highs), 0.9176 (August 26th lows) followed by 0.9228 (September 14th lows). According OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 11,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 11, 2013 Author Share Posted October 11, 2013 Hopes of a shutdown, debt-ceiling deal boost markets FXstreet.com (Edinburgh) -US markets are extending the bullish momentum on Friday, advancing for the second consecutive session, as hopes of a deal to re-open the US Government shutdown and to rise the debt-ceiling are boosting the sentiment. The greenback, gauged by the US Dollar index, is trimming weekly losses and hovering over 80.40/45. At the moment, DowJones is up 0.63% seconded by the S&P500, 0.55% and the Nasdaq, 0.55%. Bourses across the pond also closed with gains following renewed hopes of a deal to unlock the US political stand-off. The FTSE100 led the winners, advancing 0.88% and followed by the DAX, 0.45% and the IBEX35, 0.08%. The shared currency is meandering around the middle of the weekly range in the proximities of 1.3540, closely following the developments in the US fiscal front. In the commodities’ space, the ounce troy of the precious metal is plummeting more than 2% at $1,266 while barrel of WTI is following the same path,, down 1.42% at $101.55. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 11,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 16, 2013 Author Share Posted October 16, 2013 Flash: USD/JPY remains supported above 98.00 – OCBC FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank, suggests that the USD/JPY has remained supported above 98.00 in the past few sessions with the US fiscal concerns not managing to infect broader global markets and with investors still hopeful for a eleventh-hour deal. “The situation could still swing both ways in the near term and the pair may remain anchored near its 55-day MA (98.32) within a 98.00-99.00 band pending further cues.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 16,2013 OctaFX.Com News Updates Flash: USD/JPY remains supported above 98.00 – OCBC FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank, suggests that the USD/JPY has remained supported above 98.00 in the past few sessions with the US fiscal concerns not managing to infect broader global markets and with investors still hopeful for a eleventh-hour deal. “The situation could still swing both ways in the near term and the pair may remain anchored near its 55-day MA (98.32) within a 98.00-99.00 band pending further cues.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 16,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 21, 2013 Author Share Posted October 21, 2013 AUD/USD in wait and see mode at trend line resistance? FXstreet.com (London) - AUD/USD is attempting the 0.9680 resistances again at the top of the recent bull-run from last weeks 0.9460/80 range. AUD/USD is rested higher at these levels within a range ahead of tomorrows NFP’s. Research teams at TD Securities said, “The delayed September report is out tomorrow and we look for a 182k gain in payrolls (market +180k), from +169k in August…The USD will remain sensitive to the relative strength/weakness of the data, even though the Fed remains sidelined for the next few months”. Then, they suggested all eyes will be on the Q3 CPI report in Wednesday where they expect a deceleration in the key underlying measure from 2.4%/yr to 2.1%/yr (mkt 2.2%), or a quarterly average print of +0.5%/qtr. “Some estimates are rather lofty, so if we’re wrong, expect the AUD to explode to the topside from here”. AUD/USD Levels The 20 DMA is 0.9455, the 50 DMA is 0.9280 and the 200 DMA is 0.9757. RSI (14) reads 56.52. Supports are ascending from 0.9548, 0.9564, 0.9604, 0.9625 and 0.9649. Spot is currently 0.9671 while resistances are 0.9680, 0.9700, 0.9716 and 0.9765. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 21,2013 OctaFX.Com News Updates GBP/USD trims losses as USD lacks momentum FXstreet.com (Córdoba) - The GBP/USD quickly trimmed intraday losses after falling a 4-day low of 1.6132 at the beginning of the New York session. The greenback failed to sustain momentum, allowing the GBP/USD to recover some ground and cut losses. However, from a wider view, the Cable remains trapped in a range bounded by 1.6130 on the downside and 1.6180 on the upside as investors await the NFP report to be published Tuesday. GBP/USD levels to watch As for technical levels, if the GBP/USD breaks below 1.6130, it could fall to 1.6100 (psychological level) and even 1.6065 (100-hour SMA). On the other hand, resistances are now seen at 1.6180 (daily high), 1.6225 (Oct 18 high) and 1.6260 (Oct 1 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 21,2013 OctaFX.Com News Updates US sells $35B in 3-month bills at 0.035% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 21,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 22, 2013 Author Share Posted October 22, 2013 US Richmond Fed Manufacturing Index improves to 1 in October from 0 (September) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22,2013 OctaFX.Com News Updates US: Construction Spending rises 0.6% in August FXstreet.com (Barcelona) - US Construction Spending grew 0.6% in August, down from the 1.4% increase registered the previous month, according to data released by the US Census Bureau. This result is above consensus of +0.4%. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22,2013 OctaFX.Com News Updates US: Richmond Fed Manufacturing Index rises in October against forecasts FXstreet.com (Barcelona) - The US Richmond Fed Manufacturing Index grew to 1 point in October after remaining flat in September, the Federal Reserve Bank of Richmond informed on Tuesday. Analysts expected the indicator to stay unchanged for another month. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22,2013 OctaFX.Com News Updates Flash: New Year dollars – JP Morgan FXstreet.com (London) - Research teams at JP Morgan said this month’s Washington wars raise understandable questions about enduring damage to the dollar as a reserve currency, since the political process creates non-zero default risk in an asset which should be default-free. However, they said the damage to the dollar therefore looks more cyclical than structural. Key Quotes: “…the damage to the dollar therefore looks more cyclical than structural in that is suppresses US rates for longer”. “But with the US economy unlikely to slow much or for long, US rates should move towards 2.7% by year-end, which in turn limits USD downside into the new year”. “We doubt the December 2013/January 2014 debates will be as tense as the October one, and the debt ceiling issue has been deferred effectively until July 2014 due to Treasury’s use of extraordinary measures”. “Thus round five of the budget disputes under a divided Congress (the first three were the April 2011 near-shutdown, August 2011 debt ceiling and December 2012 fiscal cliff) could prove even less impactful on global markets than the fourth round in this October”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 23, 2013 Author Share Posted October 23, 2013 US Export Price Index (MoM) up to 0.3% in September; -1.6% (YoY) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 23,2013 OctaFX.Com News Updates USD/CAD soars after BoC statement FXstreet.com (Córdoba) - The Loonie weakened broadly and USD/CAD soared to a fresh 1-week high after the BoC monetary policy decision. BoC drops hawkish bias Even though the Bank of Canada decided to keep interest rate unchanged at 1.0% it dropped reference to higher rates as it trimmed GDP projections for 2013 and 2014. USD/CAD jumped after the statement and climbed to a fresh 1-week high of 1.0379 before easing slightly. USD/CAD technical levels The USD/CAD is currently trading at the 1.0365 area, recording a 0.4% gain on Wednesday ahead of the BoC news conference scheduled for 16:30GMT. As for technical levels, immediate resistances are seen at 1.0379 (daily high), and 1.0400 (psychological level), while supports could be found at 1.0282 (daily low) and 1.0265 (200-day SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 23,2013 OctaFX.Com News Updates RBA unlikely to cut – Rabobank FXstreet.com (London) - Jane Foley, Senior Currency Strategist at Rabobank noted that overnight brought news of a stronger than expected rise in Australian CPI (0.7% q/q). Key Quotes: “This data release has strengthened our belief that the RBA are unlikely to cut rates again this cycle but this view was formed because of signs of pick up in other parts of the Australian economy, including the housing market”. “While the RBA, like most G10 central banks, is mandated to keep CPI in check, the Bank in recent years has been forced to keep one eye on house prices and the associated outlook for household debt”. “High levels of household debt means that the economy is more vulnerable to a hard landing when recessionary risks arise”. “While the end of the mining investment boom in Australian impacted household’s desire to take on more debt, house prices have recently been again showing signs of life and this is likely to be a key factor in staying the hand of the RBA going forward”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 23,2013 OctaFX.Com News Updates Flash: The commentary in the October Minutes on the real economy conveyed a more upbeat tone – RBS FXstreet.com (London) - Research teams at RBS noted the BoE minutes and said the MPC voted unanimously, for a fourth successive month, to maintain monetary policy settings – “as expected”. Key Quotes: “…The MPC continues to eye the business surveys with some caution [the PMIs have tended to over-estimate the official GDP data by almost a full percentage point in annualised growth terms over the past couple of years] but noted the signs of revival in the housing market which were 'likely to provide a fillip to both dwellings investment and consumer spending'”. “As the Minutes implied, this might not be wholly consistent with the desire for a 'rebalancing' of demand, but there seems to be less high-minded rhetoric about this these days, either from Threadneedle St or Westminster”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 23,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 24, 2013 Author Share Posted October 24, 2013 AUD/USD breaks below 0.9600 FXstreet.com (Córdoba) - The AUD/USD slipped to fresh daily lows at the beginning of the American session after data showed US jobless claims fell less than anticipated last week, while August trade deficit widened in August. US initial jobless claims fell to 350K in the week ending Oct 19 versus 380K expected. The AUD/USD broke below the 0.9600/05 support area and stretched to a 1-week low of 0.9585 so far. At time of writing, AUD/USD is trading at the 0.9595 zone, recording a 0.2% loss on the day. Aussie weighed by China woes The Aussie remains under pressure Thursday despite stronger-than-expected Chinese HSBC PMI amid concerns about reports of a large write-off of bad loans at major Chinese banks and a spike in short-term rates. AUD/USD technical levels As for technical levels, next supports are seen at 0.9526 (Oct 17 low) and then 0.9500/0.9498 (psychological level/Oct 16 low). On the other hand, resistances could be found at 0.9670 (daily high) and 0.9700 (psychological level) ahead of 0.9712 (50% of 1.0581-0.8847). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 24,2013 OctaFX.Com News Updates US: Trade deficit rose to $38.80 billion in August FXstreet.com (Edinburgh) -The Commerce Department has informed that the trade deficit expanded to $38.80 billion during August from $38.64 billion (revised from $39.15 billion) in the previous month (revised). The print however bettered the median at $39.50 billion. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 24,2013 OctaFX.Com News Updates GBP/USD tug of war, can support 1.6150 hold up? FXstreet.com (London) - GBP/USD has been a tug of war over the past couple of sessions, spending most of yesterday on the back foot following a large order that hit the market on the China news. Key 1.6115/20 level held up and the reversal has swift, trading back above 1.62 on the open in Europe today. However, the dollar has risen again taking the pair lower while the trade balance has improved in August. This opens up a well defined range between (1.6115 and 1.6260) and a break of either could illicit a decent move. GBP/USD Levels The 20 DMA is 1.6090, the 50 DMA is 1.5877 and the 200 DMA is 1.5478. RSI (14) reads 39.73. Supports are ascending from 1.6033, 1.6064, 1.6076 and 1.6110. Spot is currently 1.6155 while resistances are 1.6190, 1.6205, 1.6228, 1.6260 and 1.6310. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 24,2013 OctaFX.Com News Updates European Council to focus on US spying allegations at the summit FXstreet.com (Barcelona) - The European Council begins a two-day meeting in Brussels today and most likely the main topic of discussion will be the latest revelations in the US spying scandal, which will push the economic and social issues expected to be dealt with into the background. Over the week both French President Francois Hollande and German Chancellor Angela Merkel spoke to Barack Obama, asking about the spying allegations. On Monday the French leader demanded explanations on the reports of the US monitoring millions of phone calls in France. On Wednesday Merkel called the US President to ask about evidence of her phone being tapped by the American intelligence. European Union leaders, who initially planned to focus on ways of boosting employment in the area and dealing with the immigration crisis, will now most probably shift their attention to the issue of EU-wide data privacy rules. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 24,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 25, 2013 Author Share Posted October 25, 2013 USD/CHF, condemned for 2-year lows altitudes until 2014? FXstreet.com (Chicago) - USD/CHF extends retracement from 0.8966 session highs on bearish pressure that maintains the pair around 2-year lows. With worse than expected data outweighing positive results, the trading range for the rest of the day is expected to remain within the 0.8860 and 0.90 boundaries. US data Earlier US data published includes durable goods orders at 3.7% vs. past 0.1% and expected 2.0% along durable goods orders ex transportation below expectations set at 0.5% to settle for -0.1%. The Reuters/Michigan consumer sentiment index is 73.2 vs. expectations at 75 and past results at 77.5. With low impact, wholesale inventories for August print 0.5% vs. past 0.2% and estimates at 0.3%. USD/CHF Technical Levels Technically speaking, the pair is offered at 0.8936 and oscillates between the supports aligned at 0.8888 (October 24th lows), 0.88 (key psychological support) ahead of 0.8729 (May 15th 2011 lows) and the resistances set at 0.8964 (October 23rd highs), 0.90 (October 21st lows) followed by 0.9146 (October 21st highs). Price action reveals a pair that retraces after reaching the strong 0.8964 resistance (October 23rd highs also). After stalling for hours, the pair strengthened throughout the Asian session but was stopped, coincidentally, with the release of durable goods data. The primary and secondary trends point down and the pair flows around 2-year lows. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 25,2013 OctaFX.Com News Updates EUR/USD treads water around 1.3800 FXstreet.com (Córdoba) - The EUR/USD is back at the flat line around 1.3800 after rejection from the 23-month high of 1.3830 was contained by 1.3774. The EUR/USD came under mild pressure during the European session following soft German IFO readings but moves lacked momentum confining the pair to gravitate around the 1.3800 mark. The latest string of US data including US durable goods orders, consumer confidence and wholesale inventories offered no motivation to the pair. EUR/USD technical outlook The EUR/USD is currently trading around 1.3795/1.3800, virtually unchanged on the day and with short-term indicators offering no clear signs according to Valeria Bednarik, chief analyst at FXstreet.com. "Strong acceleration above 1.3805 is required to confirm further upward potential ahead", Bednarik says. The analyst locates immediate resistances at 1.3805, 1.3835 and 1.3860, while she sees supports at 1.3770, 1.3735 and 1.3710. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 25,2013 OctaFX.Com News Updates GBP/USD dips to lows around 1.6150 FXstreet.com (Edinburgh) -The sterling is now rapidly losing the grip against the greenback, with the GBP/USD falling to session lows in the area of the mid 1.61s. GBP/USD a victim of profit taking The pair has been quite erratic throughout the week, meandering around 1.6100 and Tuesday’s peaks near 1.6260. Today’s release of the UK GDP figures for the third quarter came in as expected and was practically ignored by the price action, as much of it was already priced in by markets. In the opinion of Trevor Greetham, Director of Asset Allocation at Fidelity Worldwide Investment “A strong recovery in UK GDP is under way with survey evidence pointing to an even stronger fourth quarter. It's housing-led but any growth is better than no growth as regards getting the budget deficit down and there's a good chance the recovery broadens as companies start to invest in new equipment”. GBP/USD levels to watch The pair is now losing 0.20% at 1.6166 and a violation of 1.6119 (low Oct.23) would expose 1.6115 (low Oct.22) and finally 1.6096 (MA10d). On the upside, the initial barrier lies at 1.6258 (high Oct.23) followed by 1.6260 (high Oct.1) and then 1.6300 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 25,2013 OctaFX.Com News Updates EUR/USD treading water at 1.3800 FXstreet.com (Edinburgh) -The single currency is looking to stabilize around the 1.3800 handle on Friday, with the EUR/USD closing its second consecutive week with gains. EUR/USD keeps the ytd highs The pair continues to navigate around year highs nonetheless, easing some ground from overnight tops near 1.3840. The German IFO series came in on the softer side, although the pair quickly shrugged off the result. Tim Riddell, Head of Global Markets Research at ANZ, noted, “The sustained rally off 1.3100 now looks set to test declining resistance and a set of measured targets in the 1.3950-1.4050 area. As noted earlier this month, weekly momentum continues to be supportive as it pushes solidly higher… Although the more positive profile is gaining force, any sign of faltering would still need to be closely monitored with a slip below 1.3570 needed to undermine the current positive tone for EUR”. EUR/USD levels to watch The pair is now losing 0.02% at 1.3798 and a breakdown of 1.3741 (low Oct.23) would open the door to 1.3700 (psychological level) and finally 1.3662 (low Oct.22). On the upside, the first hurdle aligns at 1.3832 (2013 high Oct.25) ahead of 1.3826 (high Oct.24) and finally 1.3859 (high Nov.11 2011). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 25,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 28, 2013 Author Share Posted October 28, 2013 Flash: No one in at the ECB but plenty of data FXstreet.com (London) - Research teams at BBH noted the ECB will not meet until next Thursday, November 7 but ahead of that, the euro zone will report a host of data this week. Key Quotes: “Spain and Ireland report September retail sales on Tuesday”. “German October CPI and jobs, Spain Q3 GDP and September CPI all come out on Wednesday”. “On Thursday, Germany reports September retail sales and November GfK consumer confidence”. “… while Friday sees the start of the October PMI readings with Greece and Spain reporting”. “The bulk of the final PMI readings from the euro zone will be seen next Monday”. “More concrete talks about the shape of the new German coalition start on Wednesday. Control of the finance ministry is one of the areas at stakes. This is not just what party would get to appoint the minister, but there is also some talk of changing ministry’s responsibilities including European policy”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 28,2013 OctaFX.Com News Updates US October Dallas Fed Manufacturing Business Index down to 3.6 vs 12.8 (September) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 28,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
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