OctaFX_Farid Posted January 28, 2014 Author Share Posted January 28, 2014 GBP/USD extends the correction, tests 1.6580 FXstreet.com (Edinburgh) - The selling interest is now dragging the GBP/USD to the area of 1.6585/80 after an unsuccessful attempt to follow through 1.6620. GBP/USD softer after GDP numbers The UK economy expanded at an annual pace of 2.8% and 0.7% inter-quarter. However the expansion was broadly in line with previous estimates, it seems that market participants were wishing for another upside surprise as evidenced by the knee-jerk to sub-1.6540 levels in the wake of the data. In the opinion of Ross Walker, Analyst at RBS, “Overall, the latest GDP data show economic growth being sustained over a full year and therefore provide the most compelling indication that the recovery is becoming more secure and a more 'normal' cycle is underway… The RBS forecast is for GDP growth of 2.7% in 2014. The Consensus Economics survey pitches the consensus forecast for 2014 UK GDP at 2.6% – among the major economies, only the US is expected to grow faster (2.8%)”. GBP/USD levels to watch At the moment the pair is down 0.01% at 1.6580 a break below 1.6471 (low Jan.27) would expose 1.6452 (low Jan.22). On the upside, the initial hurdle aligns at 1.6627 (high Jan.28) ahead of 1.6668 (2014 high Jan.24) and then 1.6700 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 29, 2014 Author Share Posted January 29, 2014 EUR/USD challenges lows at 1.3650 FXstreet.com (Edinburgh) - The selling pressure is now sharpening in the shared currency, dragging the EUR/USD to test session lows around 1.3635/30. EUR/USD softer pre-FOMC The pair is now threatening to breach weekly lows posted on Tuesday just below 1.3630, as the greenback continues to gather traction ahead of the FOMC gathering. “We rather think the Fed will stay focused on the domestic economy—stronger and no longer in need of emergency support—and stay the course on reducing asset purchases established at the December meeting”, observed Shaun Osborne, Chief FX Strategist at TD Securities. EUR/USD levels to consider As of writing the pair is losing 0.23% at 1.3637 and a break below 1.3620 (10-d MA) would open the door to 1.3594 (100-d MA) and then 1.3564 (daily cloud base). On the upside, the initial barrier lies at 1.3689 (high Jan.28) followed by 1.3716 (high Jan.27) ahead of 1.3740 (high Jan.24). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 29, 2014 OctaFX.Com News Updates EUR/USD pone a prueba 1.3600 FXstreet.com (Edinburgh) - El EUR/USD permanece bajo intensa presión vendedora hoy miércoles, cayendo hasta testear el soporte crítico de 1.3600. EUR/USD en mínimos de 4-días El par ya ha dejado atrás las ganancias iniciales de la semana, aunque parece haber encontrado decente contención en la zona de 1.3605/00 por ahora, mientras la comunidad FX se alista para la decisión de la Fed prevista para la tarde-noche en Europa. Pobres datos en el bloque de lo préstamos privados y de la oferta monetaria M3 estarían también colaborando en el sentimiento. En vista de esto último, analistas en BBH han comentado que “esto podría aumentar las especulaciones, acerca de la reunión del BCE de la semana venidera. Sin embargo, los números de los préstamos no estarían deprimidos por el precio del dinero, por lo que un nuevo recorte sugerido por algunos analistas, sería poco probable. Tal vez uno de los eventos más importantes de Davos haya sido la sugerencia de Draghi que el banco central podría comprar bonos sostenidos por préstamos a consumidores y empresas”. EUR/USD niveles relevantes A la hora de redactar el par retrocede 0.38% en 1.3617 y de penetrar 1.3594 (100-d MA) habilitaría 1.3564 (base diaria de la nube). Por la senda alcista, la primera resistencia se localiza en 1.3689 (máx. ene.28) seguida por 1.3716 (máx. ene.27) y por último 1.3740 (máx. ene.24). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 29, 2014 OctaFX.Com News Updates USD/JPY extends the decline FXstreet.com (Córdoba) - The USD/JPY came under renewed pressure during the New York session as risk sentiment deteriorated and accelerated lower after breaking below the 102.50 area. As investors gear up for the Fed decision, the USD/JPY triggered stops and fell deeper into the red, hitting a 2-day low of 102.13 in recent dealings. At time of writing, the USD/JPY is trading at the 102.20 zone, recording a 0.7% loss on the day, and not far from its multi-week low scored Monday at 101.76. USD/JPY technical outlook "Yesterday's high at 103.42 was actually a test of 103.50 resistance and my outlook here is already bearish, for a slide through 101.72 low, en route to 100.60", said Stoyan Mihaylov, analyst at DeltaStock.com. "Crucial resistance on the upside is 103.85". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 29, 2014 OctaFX.Com News Updates EUR/USD bounces at 1.3600, back to 1.3675 FXstreet.com (San Francisco) - The Euro's decline against the US Dollar from 1.3680 found support at the 1.3600 area, nearly 1-week lows, where the EUR/USD has bounced to trade back at 1.3675. Poor EMU data from Private Loans and Money Supply during December would be collaborating with the downside, while emerging markets continue to see another day of currencies’ strong devaluation, complicating the financial scenario. Stop hunting below 1.3630 fueled the downside, but the 1.3600/10 area (key level and 200-hour MA) worked as strong support. "Just your garden-variety 60 pip bounce in EUR/USD...euro must be a safe-haven all of a sudden...," comments FXBeat Jamie Coleman. "Volatility is running high as emerging markets come under attack and then stabilize." EUR/USD bias The EUR/USD is currently trading flat on the day at 1.3670. The short term perspective remains slightly bullish according to the FXStreet trend index in the 15-minute chart. CCI and Momentum are pointing to the north while the MACD is bearish while the Stochastic is neutral. On the upside, the initial barrier lies at 1.3689 (high Jan 28) followed by 1.3716 (high Jan 27) ahead of 1.3740 (high Jan 24). On the bearish option, a break below 1.3594 (100-d MA) would expose 1.3564 (daily cloud base). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 29, 2014 OctaFX.Com News Updates BoE's Carney: Rates to remain low until recovery takes hold FXstreet.com (Łódź) - Bank of England governor Mark Carney said on Wednesday that interest rates would remain unchanged for some more time in order to allow the recovery to take hold. Once the time came to raise them, it would be done only gradually, he assured. Speaking in Edinburgh on Scottish independence, Carney said he expects the strong pound to induce benign inflation and consumption growth to slow. He signaled that the MPC would present the modifications to the forward guidance policy soon. “No doubt backing away from 7% unemployment threshold,” as Jamie Coleman commented on FXBeat. Addressing Scottish business leaders, Carney pointed to the need of ceding some of national sovereignty if Scotland became independent, but continued using the pound. A banking union and strict fiscal rules would be essential to fend off problems such as those experienced by the Eurozone. "Those risks have been demonstrated clearly in the euro area over recent years, with sovereign debt crises, financial fragmentation and large divergences in economic performance," Carney said. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 29, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 30, 2014 Author Share Posted January 30, 2014 GBP/USD looks to retake 1.6500 FXstreet.com (Edinburgh) - After bottoming out near 1.6440 post-UK data, the GBP/USD is now attempting a bounce back to the 1.6500 handle. GBP/USD netting an even week so far The pair is falling for the third consecutive session so far amidst another significant sell-off in the EM universe post-Fed’s taper, fully retracing Monday’s steep advance. In the same direction, mixed-to-soft data from the UK calendar would also be collaborating with the downside. “A close below the 1.6259 support should then be enough to signal losses to the 1.5855 November low”, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. GBP/USD levels to watch At the moment the pair is losing 0.43% at 1.6481 with the next support at 1.6446 (61.8% of 1.6309-1.6666) followed by 1.6400 (low Jan.21) and then 1.6396 (low Jan.20). On the upside, a surpass of 1.6565 (high Jan.30) would expose 1.6606 (high Jan.29). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30, 2014 OctaFX.Com News Updates USD/JPY extends advance to 102.70 after GDP data FXstreet.com (San Francisco) - The US dollar is trading higher against the Japanese yen as the pair is extending advance following the US GDP numbers. After a bounce at 102.15 in the European session, the USD/JPY was rising to test 102.70. The USD/JPY is currently pricing at 102.65, 0.45% positive on the day. The short term perspective is strongly bullish according to the FXStreet trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is neutral. USD/JPY levels Above the 102.70, the USD/JPY would face resistances at 103.15 and 103.45. On the downside, supports are at 102.50, 102.10 and 101.85. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30, 2014 OctaFX.Com News Updates EUR/USD extends decline after US data FXstreet.com (Córdoba) - The EUR/USD extended losses to fresh 1-week lows after the latest string of US data came in mostly in line with expectations. The US annualized gross domestic product grew 3.2% in the fourth quarter, meeting market's expectations. Meanwhile, initial jobless claims rose by 19,000 to 348,000 last week, missing forecast of 330,000. The EUR/USD stretched to a fresh 1-week low of 1.3567 after the data before bouncing slightly. At time of writing, the EUR/USD is trading around 1.3580, recording a 0.2% loss on the day. EUR/USD technical outlook From a technical view, Valeria Bednarik, chief analyst at FXStreet.com commented that as long as below 1.3590 bears would lead the way, with next supports at 1.3550 and 1.3510. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30, 2014 OctaFX.Com News Updates EUR/USD extends decline after US data FXstreet.com (Córdoba) - The EUR/USD extended losses to fresh 1-week lows after the latest string of US data came in mostly in line with expectations. The US annualized gross domestic product grew 3.2% in the fourth quarter, meeting market's expectations. Meanwhile, initial jobless claims rose by 19,000 to 348,000 last week, missing forecast of 330,000. The EUR/USD stretched to a fresh 1-week low of 1.3567 after the data before bouncing slightly. At time of writing, the EUR/USD is trading around 1.3580, recording a 0.2% loss on the day. EUR/USD technical outlook From a technical view, Valeria Bednarik, chief analyst at FXStreet.com commented that as long as below 1.3590 bears would lead the way, with next supports at 1.3550 and 1.3510. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30, 2014 OctaFX.Com News Updates AUD/USD gathers traction, eyes 0.8800 FXstreet.com (Edinburgh) - The Aussie dollar is picking up pace now, pushing the AUD/USD levels beyond 0.8780 after the US docket. AUD/USD supported around 0.8700 The pair sold off to the vicinity of 0.8700 the figure overnight, after the Chinese manufacturing PMI sponsored by HSBC disappointed investors at 49.5 during January. However, spot managed to rebound and is currently printing fresh intraday highs beyond 0.8780 after the weekly report on the US labour market showed an increment of claims last week and the US economic activity expanded in line with estimates 3.2% YoY in Q4. AUD/USD key levels The pair is now up 0.62% at 0.8784 with the next resistance at 0.8821 (high Jan.28) ahead of 0.8853 (high Jan.23) and then 0.8889 (high Jan.22). On the downside, a break below 0.8727 (low Jan.28) would aim for 0.8678 (low Jan.27) and finally 0.8660 (low Jan.24). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 30, 2014 Author Share Posted January 30, 2014 EUR/CHF creeps higher on declining CHF haven demand FXstreet.com (London) - EUR/CHF is grinding back some ground after sharp declines in the pair on haven demand for the Swiss franc earlier this week. The pair hit a low of CHF1.2213 yesterday on continuing fears over EM contagion after the Turkish central bank was forced to drastically hike rates to try to slow Turkish lira weakness. KoF indicator misses expectations There was a slight knock for CHF with the publication of the monthly KoF leading indicator, a composite of business surveys from various sectors of the Swiss economy published by the Swiss Institute for Business Cycle Research (KOF). The index, designed to give a forecast of GDP growth for the next quarter, came in at 1.98, just below expectations of 2.0. EUR/CHF remains in bullish territory, trading at CHF1.2245, just below a session high of CHF1.2249. However, further upside may be capped by today’s weak Eurozone data. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 30, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 31, 2014 Author Share Posted January 31, 2014 Flash: GBP/USD a February sell? - Societe Generale FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale believes that amongst other things GBP/USD is a sell in February. Key Quotes "Other 'things to do' for February include buying bank credit vs corporates, buying red short sterling futures vs Eurodollars, and selling Cable.” “As for today, US PI, PCE, U-Mich and Chicago PMI will keep us busy this afternoon. We've already seen another little tick lower in Spanish CPI to 0.2% y/y, and we should confirm that the Euro Area unemployment rate is steady now at a mere 12.1%, later. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 31, 2014 OctaFX.Com News Updates US December Core Personal Consumption Expenditure - Price Index (MoM) steadies at 0.1% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 31, 2014 OctaFX.Com News Updates US: PCE rose 1.1% YoY in December FXstreet.com (Edinburgh) - The US Commerce Department informed that the US inflation, measured by the Personal Consumption Expenditures, rose 1.1% YoY during December. The Core reading, which strips the food and energy costs, rose 1.2% over the last twelve months and 0.1% MoM. Personal Income came in flat vs. 0.2% expected and previous while Personal Spending rose 0.4%, surpassing forecasts at 0.3% and down from 0.6% (revised). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 31, 2014 OctaFX.Com News Updates EUR/USD falls below 1.3500 FXstreet.com (Córdoba) - The EUR/USD extended losses and printed a fresh 2-month low at the beginning of the American session after the latest string of US data. The US consumer spending rose 0.4% in December while personal income fell 0.2%. Meanwhile, data showed PCE price index increased just 1.1% across 2013, well below the Fed's target of 2%. As for the EUR/USD, the pair accelerated lower and hit a low of 1.3496 so far, and continues to trade near lows, recording a 0.4% loss Friday, its fourth daily decline in a row. EUR/USD weighed by ECB expectations "Growing expectations that the ECB will trim rates as early as next Thursday are fueling a continued slide in EUR/USD", says Jamie Coleman, Editor at FXBeat. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 31, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 3, 2014 Author Share Posted February 3, 2014 Flash: GBP/USD eyes on 1.6260 - Investec FXStreet (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec is watching for a GBP/USD close below 1.6280 today for a sign of further downside ahead. Key Quotes "GBP/USD has remained somewhat subdued since Governor Carney spoke over a week ago, talking down the need for rate rises and implying that Sterling is too strong. UK GDP last week failed to rouse further enthusiasm coming out in line with consensus at 0.7%, and slightly below more optimistic economists’ forecasts of 0.8%. Overnight we had more disappointing Chinese data and subsequently GBP/USD opens in the low 1.64s." "At this point a close through the key 1.6260 technical level could signify further downward movement in GBP/USD. The likelihood of this happening is strengthened by the Fed's decision last week to continue to taper it's QE program by a further 10b USD, helping to add to USD strength amidst jitters in equities and emerging markets." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 03, 2014 OctaFX.Com News Updates [/CENER] Flash: Short term USD/JPY long offers poor risk-reward - Societe Generale FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale comments that he is surprised the yen isn’t stronger this morning, as the Nikkei slides again. Key Quotes “The NKY/JPY correlation is driven by the currency, not by the equity market, but even so yen shorts could be squeezed out if the equity market sell-off goes much further.” “Short-term, USD/JPY longs are poor risk-reward while EUR/JPY in particular is showing signs of breaking lower.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 03, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 3, 2014 Author Share Posted February 3, 2014 AUD/USD rallies strongly on expectations of less dovish RBA FXStreet (London) - AUD/USD has rallied strongly ahead of the Reserve Bank of Australia’s rate decision and accompanying statement tomorrow. AUD bullishness comes despite China slowdown concerns and subdued risk appetite. EM worries damp AUD demand The Aussie dollar had been under pressure thanks to emerging market volatility and contagion worries dragging on risk appetite demand for the higher-yielding currency. In addition, weakening Chinese data has raised concerns over commodity demand. Tightening of policy from the Communist Party has weighed on manufacturing and ramped up money market rates. Rising inflation cuts further RBA rate cut bets Though the RBA will almost certainly hold rates tomorrow, expectations are for a less dovish RBA. A weaker AUD has translated into accelerating inflation, making it less likely that the central bank will move to cut rates further. Markets will be focussed on the tone of the language in the statement accompanying the rate announcement and for concern over AUD weakness feeding into further inflation. AUD/USD is currently trading at USD0.8802 on an unbroken rally though from a session low of USD0.8738, up 0.46 percent. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 03, 2014 OctaFX.Com News Updates EUR/USD fails to hold above 1.3500 FXStreet (Córdoba) - After reaching fresh day highs in the wake of above expectations Eurozone PMI's, the EUR/USD lost strength and pulled back below the 1.3500 mark as investors await the US PMI figures. The EUR/USD peaked at 1.3518 but failed to hold above the psychological level and slid to the 1.3490 zone, where it is trading at time of writing, still a few pips above its opening price. The EUR/USD hit a fresh 2-month low of 1.3476 during the European trade, weighed by the risk off sentiment and cautious ahead this week's ECB decision after reports suggested the central bank could stop sterilizing its bond purchases. EUR/USD technical levels On the upside, immediate resistances for EUR/USD line up at 1.3518 (Feb 3 high), 1.3530 (50-hour SMA) and 1.3570 (Jan 31 high) ahead of 1.3600 (psychological level). On the downside, supports are seen at 1.3476 (Feb 3 low), 1.3460 (Nov 22 low) and 1.3415 (Nov 20 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 03, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 4, 2014 Author Share Posted February 4, 2014 NZD/USD continues bullish momentum FXStreet (London) - NZD/USD has rallied strongly through the day, regaining a large percentage of its recent losses. NZD given support by AUD bullishness The Kiwi has benefitted for the strong AUD bullish trend through the day on a changed stance from the Reserve Bank of Australia. The RBA held rates overnight in its monthly rate decision, but the accompanying statement dropped any reference to the AUD being over valued. The Kiwi dollar had been under bearish pressure through last week on emerging market concerns. Concerns over EM exposure to tightening USD conditions as the Fed continued on its trajectory of quantitative easing tapering knocked risk appetite, putting pressure on higher-yielding currencies. March rate hike expectations Fourth quarter unemployment numbers due out at 21:45 GMT should help to confirm expectations of a March rate hike from the Reserve Bank of New Zealand. Consensus expectations are for a decline from 6.2 percent to 6.0 percent. RBNZ governor Graeme Wheeler last week said that the Kiwi economy is growing too fast to constrain inflation. He has signaled that he will move to hike rates from the current 2.5 percent level at the March meeting and confirmation of declining unemployment will give Wheeler further breathing space to hike rates and rein in the NZ economy. NZD/USD is currently trading at USD0.8172, climbing 1.32 percent on the session. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 04, 2014 OctaFX.Com News Updates EUR/USD is facing headwinds mid point FXStreet (Guatemala) - EUR/USD fell sharply from above 1.3550 to the lows in the 1.3480 territory and since has been drifting and grinding back to the mid point of the drop. Meanwhile, markets are looking ahead to data this week, after a disappointing ISM manufacturing from the US, Factory Orders were slightly positive giving a boost to the dollar. Later this week, we will have Non Farm Payrolls of course, but in the mean time we look forward to the ECB coming up. Strategists at TD Securities said that they look for the ECB to keep the refi rate and deposit rate unchanged at this week’s meeting, despite the downside surprise to January inflation. “We don’t think that it would have been enough to derail the ECB’s belief in the continuing recovery in growth, and eventually inflation”. EUR/USD Levels The 20 DMA is 1.3609, the 50 DMA is 1.3648 and the 200 DMA is 1.3376. RSI (14) reads 48.45. Supports are ascending from 1.3390, 1.3417, 1.3463, 1.3477. Spot is 1.3509 while resistances are 1.3544, 1.3574, 1.3590 and 1.3605. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 04, 2014 OctaFX.Com News Updates USD/CAD a continuation of the bearish trend? FXStreet (Guatemala) - USD/CAD is easing back losses creating a bearish looking continuation at 1.1070 currently. Strategists at TD Securities said “USDCAD’s bearish key reversal day Friday remains the salient feature of the daily chart, With spot trending below steep, daily trend channel support, the odds of a correction, perhaps only short-lived but possibly quite sharp, remain alive. New highs are needed—soon—to reinvigorate the underlying bull trend and stave off retracement pressure”. From the calendar today the dollar has had a little life from factor orders against what was a disappointing ISM Manufacturing number yesterday. The week ahead comes with Non Farm Payrolls which markets are expected to start positioning ahead of. USD/CAD Levels The 20 DMA is 1.0999, the 50 DMA is 1.0778 and the 200 DMA is 1.0460. RSI (14) 48.45. Supports are 1.0953, 1.0992, 1.1019. Spot is 1.1070 while resistances are 1.1110, 1.1135, 1.1225, 1.1300 and 1.1349. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 04, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 5, 2014 Author Share Posted February 5, 2014 USD/JPY falls as ADP came below expectations FXStreet (San Francisco) - The USD/JPY is trading below the 101.00 mark again following the weaker than expected ADP employment report. The pair has fallen around 40 pips in the latest few minutes to trade at 100.85. The US dollar to Japanese Yen exchange rate is currently performing 0.80% negative in the day. The short term perspective is slightly bearish according to the FXStreet trend index in the 15-minute chart. The US ADP employment report shows a increase of 175K new payrolls in the private sector in January. However it means a slowdown from December reading of 227K. USD/JPY technical outlook "Allow one more upswing towards 101.94 resistance area before renewal of the general downtrend through 100.70, en route to 99.00 support zone", commented Stoyan Mihaylov, analyst at DeltaStock.com. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 05, 2014 OctaFX.Com News Updates US Markit Services PMI improves to 56.7 in January from 55.7 in December Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 05, 2014 OctaFX.Com News Updates GBP/USD shaken on employment numbers The Sterling reached a fresh low since December against the US Dollar at 1.6250 following the weaker than expected ADP numbers. After data release, the GBP/USD broke 1.6260 area to reach fresh low since December 17 at 1.6350; however the pair bounced to price at 1.6285. Now it is trading at 1.6270. 0.35% negative on the day. GBP/USD sentiment The short term perspective is, however, slightly bullish now according to the FXStreet trend index in the 15-minute chart. Momentum is pointing to the north while the CCI is bearish and Stochastic and MACD are neutral. Valeria Bednarik, FXStreet Chief Analyst notes that GBP/USD “recovery above 1.6300 may see the pair attempt to retest the 1.6340 resistance, albeit only steady gains above 1.6360 should signal a bullish continuation eyeing then 1.6410 price zone.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 05, 2014 OctaFX.Com News Updates GBP/USD agitado por los números de empleo FXStreet (San Francisco) - La libra esterlina alcanzó un nuevo mínimo desde diciembre contra el dólar de EE.UU. en 1.6250 siguiendo el número de ADP más débil de lo esperado. Después de la publicación de datos, el GBP/USD rompió la zona 1.6260 para llegar a nuevo mínimo desde el 17 de diciembre en 1.6350; sin embargo, el par rebotó hasta el precio de 1.6285. Ahora se cotiza a 1.6270. 0.35% negativo en el día. Sentimiento GBP/USD La perspectiva a corto plazo es, sin embargo, ligeramente alcista ahora de acuerdo con el índice de tendencia de FXStreet en el gráfico de 15 minutos. Momentum está apuntando hacia el norte, mientras que el CCI es bajista y el estocástico y el MACD son neutrales. Valeria Bednarik, analista jefe FXStreet señala que la recuperación del GBP/USD "por encima de 1.6300 puede animar el intento para volver a probar la resistencia de 1.6340, aunque sólo ganancias constantes por encima de 1.6360 señalaría una continuación alcista mirando luego 1.6410." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 05, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 6, 2014 Author Share Posted February 6, 2014 Canada Exports increase to $39.72B in December; Imports: $41.38B Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 06, 2014 OctaFX.Com News Updates EUR/USD soars to 1.3600 on Draghi FXStreet (Córdoba) - The EUR/USD reversed intraday losses and soared to fresh weekly highs as Draghi announces no new action. ECB President said at a press conference that the bank continues to monitor money markets closely and it is determined to take decisive action if required, but didn't announce any new policy at the moment. Draghi downplayed suspension of SMP sterilization and said inflation expectation remain firmly anchored. The EUR/USD rallied to a high of 1.3600 although it found resistance at the psychological level and pulled back to 1.3585, where it is recording a 0.4% gain on the day. EUR/USD levels to watch In terms of technical levels, next resistances could be found at 1.3600 (psychological level), 1.3630 (55-day SMA) and 1.3665 (Jan 30 high). On the flip side, supports are now seen at 1.3540 (former resistance), 1.3476 (Feb 3 low) and 1.3460 (Nov 22 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 06, 2014 OctaFX.Com News Updates Flash: USD/CAD is holding in a range – TD Securities FXStreet (Guatemala) - Strategists at TD Securities noted the price action around the USD/CAD. Key Quotes: “On the one hand, USD dips to noted technical support just below 1.1050 continues to draw out bargain hunters. On the other, the USD really can’t hold a bid above 1.11 for the moment”. “The overall undertone here remains consolidative but we are not—yet—convinced that USD/CAD has established a firm base from which the broader uptrend can start to advance again. On the data front today, we are looking for mixed data for the CAD—weaker trade which would be a negative, considering the BoC’s focus on Canada’s lost competitiveness, but better Ivey PMI data (a volatile series but the market may pay attention to a strong rebound from the prior month’s drop back under 50”). “Technically, we still think the short-term bias is lower—a break under 1.1042 should confirm—for a drop back to the high 1.09s. Resistance is 1.1125 (above here targets 1.12 again)”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 06, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 7, 2014 Author Share Posted February 7, 2014 US: Average Hourly Earnings up 0.2% in January FXStreet (Barcelona) - The US Average Hourly Earnings increased by 0.2% in January, after remaining unchanged in December, the US Department of Labor reported today. This result is in line with forecasts. On an annual basis Average Hourly Earnings rose by 1.9%, after growing 1.8%. Average Weekly Hours climbed to 34.5 from 34.4, against expectations of remaining at 34.5. US NFP grew by 169K in August. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 07, 2014 OctaFX.Com News Updates EUR/USD retraces nonfarm payrolls gains FXStreet (Córdoba) - The rally of the EUR/USD ignited by disappointing US nonfarm payrolls figures faded at the 1.3640 area as Fed has said it will look past this data since they feel it is heavily impacted by weather. With weak employment data not translating into Fed policy action, the USD weakness was short-lived and the EUR/USD returned to the 1.3590 area, just where it was minutes before the release, nearly flat on the day. however, the EUR/USD remains on track to close the week into the green after the ECB refrained from taking policy actions yesterday. EUR/USD technical levels As for technical levels, immediate resistances line up at 1.3642 (Feb 7 high/50-day SMA), 1.3664 (Jan 30 high) and 1.3700 (psychological level). On the other hand, supports are seen at 1.3551 (Feb 7 low), 1.3500 (psychological level) and 1.3476 (Feb 3 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 07, 2014 OctaFX.Com News Updates UK: NIESR GDP Estimate up 0.8% in January FXStreet (Barcelona) - The UK NIESR GDP Estimate was at +0.8% in January, following a 0.7% rise in December, according to data released today by the National Institute of Economic and Social Research. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 07, 2014 OctaFX.Com News Updates GBP/USD reaches 1.6400 after UK GDP estimate FXStreet (Córdoba) - Even though USD weakness after nonfarm payrolls was short lived, the GBP/USD received a fresh boost from UK GDP estimate and reached fresh daily highs. The UK economy grew 0.8% in quarter ended in January, according to data provided by NIESR following 0.7% growth in the quarters ended in December, November and October. The GBP/USD rose to marginal new high of 1.6399 but lacked momentum to break decisively above the 1.6400 mark. GBP/USD levels to watch At time of writing, the GBP/USD is trading at the 1.6385 zone, recording a 0.4% gain on the day. In terms of technical levels, immediate resistances line up at 1.6400 (psychological level) and 1.6440 (20-day SMA). On the other hand, supports are seen at 1.6300 (psychological level), 1.6272 (Feb 6 low) and 1.6248 (100-day SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 07, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 10, 2014 Author Share Posted February 10, 2014 Flash: GBP could suffer ahead of BoE's QIR - Investec FXStreet (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec, observed that the BoE's Quarterly Inflation Report due on Wednesday will be crucial for the GBP. Key Quotes "In the aftermath of Friday's weaker US jobs data we saw US dollar selling across the board before some bounce back - notably in USDJPY, quickly reclaiming a 102 handle after trying twice below 101.50. EURUSD steadied in the low 1.36s and GBPUSD has well and truly bounced from the 1.6260 support to reclaim a birth at 1.64 and open up for a retest higher - that support level is now even more important for the pair and when we break below it will likely see considerable momentum, which could drag GBPUSD close to 1.6000." "A potential catalyst for a GBPUSD move lower this week is the Bank of England Quarterly Inflation Report on Wednesday. Many economists expect Governor Mark Carney to change the current forward guidance rhetoric and potentially lower the knockout criteria for a review on policy, since the UK unemployment rate has fallen more sharply than expected." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 10, 2014 OctaFX.Com News Updates Canada Housing Starts s.a (YoY) down to 180.2K in January. Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 10, 2014 OctaFX.Com News Updates Flash: The lack of faith in EUR/USD keeps fueling it - FXStreet FXStreet (Barcelona) - Goncalo Moreira CMT, FXStreet Technical Analyst notes that weak shorts were forced to cover with poor US employment figures coming out on Friday, thwarting any near-term attempt to get EUR/USD below 1.35 on a sustained basis. Key Quotes “As every week, we asked our dedicated contributors for their views on the FX market and the polled results reflect an increasing bullish mood in the short-term prognosis the highest number in eight weeks. Bears show the opposite behavior and reached the lower level in eight weeks as well. Both are coincident at 45% of the poll.” “As far as the one-month view concerns, it's the bearish mood which dominates 80% of the poll participants, and in the larger three-month horizon a less vibrant curve shows bearishness oscillating in the 60-70% range since November. In the most recent survey, only 20% of the participants has a positive euro outlook in this time horizon with all central tendency measures printing around 1.3300.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 10, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 10, 2014 Author Share Posted February 10, 2014 USD/CAD hits fresh highs after Canadian housing data FXStreet (Córdoba) - The USD/CAD rose to marginal new highs during the American session after data showed Canadian housing starts fell in January. Canada's housing starts dropped 3.7% to 180,248 annual rate in January, missing expectations of 180,500. The USD/CAD climbed to a high of 1.1049 but lacked follow-through. At time of writing, the USD/CAD is trading at the 1.1045 zone, up 0.1% on the day. USD/CAD levels to watch In terms of technical levels, the USD/CAD could find immediate resistances at 1.1049/54 (Feb 10 high/20-day SMA), 1.1063 (100-hour SMA) and 1.1078 (Feb 7 high). On the other hand, supports are seen at 1.1018 (Feb 10 low), 1.1000 (psychological level) and 1.0967 (Feb 7 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 10, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 11, 2014 Author Share Posted February 11, 2014 US NFIB Business Optimism Index increase to 94.1 in January from 93.9 (December) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 11, 2014 OctaFX.Com News Updates GBP/USD slightly bid; Yellen takes the seat FXStreet (Guatemala) - GBP/USD spiked up to 1.6473 the high before meeting conservative supply on the way back to the mid point of the handle. Yellen’s Semiannual Monetary Policy Report to the Congress was published and now she speaks. The new Fed Chair Janet Yellen said in her first semi-annual testimony on monetary policy and the economic outlook to the US Congress that the situation on the labor market had improved but that the economic recovery still had a long way to go, sending the market mixed signals. Yellen speech insight: Steve Ruffley, chief market strategist at InterTrader. Explained that “Yellen will not be able to make any real sweeping statements or flick a switch to fix the fragile state of the US economy. The US economy is like a huge container vessel travelling at speed, set on its course by Captain Bernanke. He has left in the only life raft available and is sipping cocktails in the Soggy Dollar bar with one eye on the horizon. Yellen however, being the new captain, has the unenviable task of deciding what comes next. You can’t just stop QE or ‘drop anchor’ completely at this speed, nor can you just set a totally new course. Yellen in real terms has very little room for manoeuvre metaphorically or economically. What the most concerning part of all is is that she knows it, I know it and so does everyone else in the market. This means that rife speculation and volatility has once again entered the markets. Although Bernake did the best he could under testing conditions, he was less than decisive with his message to the markets on forward guidance (likely under the knowledge that he was due to step down.) Yellen now has to be clear on forward guidance and let the market know in no uncertain terms when QE will end. Only after the FED move on rates will the bond and stock markets be able to efficiently able to price this in, and once again return to trading in ‘normal’ conditions.” GBP/USD Levels The 20 DMA is 1.6445, the 50 DMA is 1.6419 and the 200 DMA is 1.5844. RSI (14) reads 59.73. Supports are ascending from 1.6295, 1.6325, 1.6348, 1.6384, 1.6420. Spot is 1.6455 and resistances are 1.6460, 1.6471 and1.6500. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 11, 2014 OctaFX.Com News Updates USD/JPY back on the bid on Yellen FXStreet (Guatemala) - USD/JPY has seen a series of spikes of late only to be sent right back to where the pair came from in the same moments. In this event, the pair is volatile around Yellen. USD/JPY, on this occasion, flew from 102.28 to reach a high of 102.69 on the five minute chart but met fierce supply there which took the pair on course to the 102 handle within the following hour. Yellen released her Semiannual Monetary Policy Report to the Congress was published. The new Fed Chair Janet Yellen said in her first semi-annual testimony on monetary policy and the economic outlook to the US Congress that the situation on the labor market had improved but that the economic recovery still had a long way to go, sending the market mixed signals. She has been speaking and that has lifted the pair again. USD/JPY Levels The 20 DMA is 102.96, the 50 DMA is 103.47 and the 200 DMA is 100.13. RSI (14) reads 49.51. Supports are ascending from 101.35, 101.77, 101.89, 101.99. Spot is 102.25 while resistances are 102.46, 102.65, 102.77 and 102.94. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 11, 2014 OctaFX.Com News Updates Flash: Has the AUD bottomed? - Rabobank FXStreet (Guatemala) - Jane Foley, Senior Currency Strategist at Rabobank looked into AUD/USD, concerned about the Australian economy being vulnerable to negative shocks from China. Key Quotes: “The expectation of steady policy should help lend some support to AUD/USD going forward. The recent change in language from the RBA on the outlook for the AUD should also add support”. “Although the softer prices of commodities has weakened the country’s terms of trades, volumes of exports has recently surprised on the upside with iron ore shipments to China continuing at a record pace in December and unexpectedly lifting the trade balance to a surplus”. “On the back of recent developments we have revised up our 1 to 3 mth AUD/USD modestly and now expect a 0.89 to 0.91 range to hold most activity in this period”. “That said, the Australia’s economy is still vulnerable to negative shocks from China and based on our concerns for Chinese growth we are maintaining are 12 mth AUD/USD forecast at 0.86”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 11, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 12, 2014 Author Share Posted February 12, 2014 EUR/JPY regains 139.00 FXStreet (Edinburgh) - The weakness around the single currency is now taking a toll on the EUR/JPY, dragging it to weekly lows in sub-139.00 levels. EUR/JPY softer on B.Coeure’s comments The EUR is getting hammered following ECB’s B.Coeure’s comments regarding the European central bank would be considering negative deposit rates ‘very seriously’. The cross nose-dived 60+ pips soon after the news hit the wires, although the decline seems to have found support near 138.80. Earlier on, EMU’s Industrial Production figures came in short of estimates during December, albeit the EUR remained indifferent. EUR/JPY levels to watch At the moment the cross is losing 0.70% ay 139.01 with the next support at 138.45 (daily cloud base) followed by 138.17 (low Feb.7) and then 138.00 (psychological level). On the flip side, a break above 140.05 (21-d MA) would target 140.09 (high Feb.11) en route to 140.33 (low Jan.20). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 12, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 13, 2014 Author Share Posted February 13, 2014 Flash: RBA can still cut rates this year - BTMU FXStreet (Barcelona) - The recent worsening of the labour market in Oz could prompt the RBA to cut the refi rate later this year, according to Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ. Key Quotes "The Australian dollar has weakened sharply following the release of the weaker than expected Australian employment report for January,, with the AUD/USD rate falling back below the 0.90- level. The report revealed that employment in Australia unexpectedly declined by 3.7k in January and the unemployment rate increased by 0.2 point to 6.0% reaching its highest level since July 2003." "The only piece of encouraging news within the report was that hours worked increased by 1.3% in January consistent with strengthening economic growth potentially pointing to stronger employment growth ahead. Still employment growth in Australia continues to prove disappointing despite the improving outlook for economic growth as evident by stronger retail sales growth and the rising housing market." "Over the last six months the Australian economy has shed 15.6k jobs and added only 1.3k jobs over the last twelve months. The weak employment report supports our view that the RBA will not begin to raise its key policy rate until at least well into 2015, and if the labour market does not show signs of improvement it will likely encourage investor expectations of further monetary easing later in 2014. In these circumstances, we continue to believe that the scope for the Australian dollar to strengthen in the near-term on the back of the improving domestic economic outlook is only modest." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 13, 2014 OctaFX.Com News Updates GBP/USD toying with 1.6650 FXStreet (Edinburgh) - The sterling continues its relentless march north on Thursday, with the GBP/USD extending its rally near 1.6650. GBP/USD in 3-week highs The pair is thus extending its bounce off sub-1.6300 levels in early February, looking to challenge ytd peaks in the vicinity of 1.6670 (January 24th) backed by the recent upbeat tone from the BoE’s Quarterly Inflation Report. In the opinion of BBH Global Currency Strategy Team, “The bottom line is that while the general view remains of a risk of a BOE rate hike in Q1 2015, many observers and investors see heightened risk of an earlier hike, as in late 2014. The market went into this week thinking that it was a close call who would raise rates first the Fed of the BOE, Yellen seemed ultimately more convincing than Carney”. GBP/USD levels to consider At the moment the pair is gaining 0.30% at 1.6643 with the next up-barrier at 1.6668 (2014 high Jan.24) ahead of 1.6700 (psychological level). On the downside, a breach of 1.6425 (low Feb.12) would aim for 1.6392 (low Feb.11) and then 1.6384 (low Feb.10). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 13, 2014 OctaFX.Com News Updates Flash: GBP/USD has scope to test 1.6745 - FXStreet FXStreet (Barcelona) - Valeria Bednarik, FXStreet Chief Analyst notes that GBP/USD flirted with this year high, reaching 1.6653 so far today, amid a general weakness of the greenback particularly against its European rivals. Key Quotes “With no headlines behind the move, the pair stands around 1.6640 with the 4 hours chart showing indicators maintaining a strong upward momentum despite in extreme overbought levels, with no signs the pair may pull lower at the time being.” “Immediate support stands at current daily low around 1.6590 and approaches to the level should be seen as buying opportunities towards this year high of 1.6666.” “A price acceleration beyond 1.6670, should see the pair extending its rally up to next big resistance, the 1.6745 price zone, monthly high for April and May 2011.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 13, 2014 OctaFX.Com News Updates Session Recap: USD softer, EUR advances FXStreet (Córdoba) - The dollar came under broad pressure during the European session for no apparent reason, falling against major competitors. The EUR/USD spiked to a fresh 2-week high of 1.3685 in a sudden move that wasn't news driven. The GBP/USD also advanced to a 3-week peak of 1.6653 while the USD/JPY broke below 102.00. Currencies linked to commodities are nearly flat with the AUD underperforming in the wake of disappointing Australian jobs data. During the New York session, the US will release jobless claims, Jan retail sales and Dec business inventories data. Main Headlines in Europe: Germany: Annual HICP inflation up 1.2% in January, as expected Switzerland: Producer and Import Prices flat in January Flash: What’s the perspective for the EUR/USD today? – Commerzbank and Societe Generale Europe open: Focus on ECB monthly report on increasing intervention expectations ECB lowers inflation forecasts for this and next year in its February Monthly Report ECB's Coeure warns Eurozone recovery still weak OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 13, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 17, 2014 Author Share Posted February 17, 2014 USD/JPY resistance sighted 102.42 FXStreet (Guatemala) - USD/JPY is just below the 102 handle after climbing higher after the Japan GDP figures disappointed. The global currency strategy team at Brown Brothers Harriman explained and note that the disappointing Q4 GDP figures spurred speculation that maybe the BOJ will have to do more after all. “This saw the greenback climb back to the JPY102 area…It renews concerns about a flagging economy as April 1 retail sales tax looms”. As far as the calendar from here, the US is out today but later in the week the real sector data is largely confined to the housing market and the FOMC minutes. However, after Yellen’s Q & A’s last week, the minutes are unlikely to contain many surprises. Technically, Karen Jones, Head of FICC Technical Analysis and Alex Rudolph, Senior Technical Analyst, explained that USD/JPY rallies will find stronger resistance at 102.42, 103.45 (20 day ma day ma and 29th Jan high). This guards 104.45 en route to the more important 105.45/50 recent high and long term Fibo”. USD/JPY Levels The 20 DMA is 102.55, the 50 DMA is 103.46 and the 20 DMA is 100.18. RSI (14) reads 51.07. Supports are ascending from ,100.76, 101.07, 101.25 and 101.38. Spot is 101.90 while resistances are 101.99, 102.13 and 102.41. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 17, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 17, 2014 Author Share Posted February 17, 2014 EUR/GBP bounces off 1-year low FXStreet (Córdoba) - The EUR/GBP found support and managed to bounce off a 1-year low scored at the beginning of the Asian session amid broad GBP strength. The EUR/GBP fell to its lowest level since January 2013 at 0.8156 but it recovered ground during the European trading turning intraday positive. However, with the recovery being capped by the 0.8200 psychological level, the EUR/GBP was confined to a phase of consolidation. EUR/GBP levels to watch At time of writing, the pair is trading at the 0.8190 zone, up 0.2% on the day, with immediate resistances lining up at 0.8200 (psychological level) and 0.8218 (100-hour SMA). Meanwhile, supports are seen at 0.8175 (Feb 14 low) and 0.8156 (Feb 17 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 17, 2014 OctaFX.Com News Updates Flash: IMM positions; Sterling on the up - Rabobank FXStreet (Guatemala) - Strategists at Rabobank reported the International Monetary markets positions in some of the G10's that are covered. "EUR shorts halved. The impetus for the move was likely the news that ECB President Draghi did not step up his dovish rhetoric at the February ECB meeting. Better than expected Q4 Eurozone GDP data may lend a little further support this week". "USD longs continued to creep higher potentially in continued response to the exit from emerging markets. Continued weak US economic data could lead to some hesitation from USD bulls". "The level of JPY shorts increased slightly after the recent sharp falls. There has been a significant degree of yen short covering in recent weeks which has pulled the level of JPY shorts back from the extraordinary levels that persisted between Nov2013 and January 2014". "Sterling long positions held steady after the previous week’s drop. Sterling rallied in the spot market during the latter part of last week in response to the upward revision to growth from the BoE. This could lead to an additional upward extension in longs in the next set of data". "Net CHF positions fell back but remain in positive territory". "Short-covering pushed CAD shorts slightly lower for the third consecutive week". "AUD short-covering is also evidence as the market adjusts to a less dovish RBA". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 17, 2014 OctaFX.Com News Updates Flash: EUR/GBP broke below key support - BTMU FXStreet (Guatemala) - Lee Hardman, currency analyst at The Bank of Tokyo-Mitsubishi UFJ, Ltd explained that the pound continues to strengthen following the release last week of the BoE’s latest Quarterly Inflation Report and updated forward guidance which has served to reinforce investor expectations that the BoE will begin to raise its key policy rate ahead of the other major central banks. Key Quotes: “EUR/GBP has broken below key support at around the 0.8200-level encouraging accelerated pound strength in the near-term”. “The release of the latest Rightmove house price survey which revealed a further solid monthly increase of 3.3% in February has also provided support for the pound". "BoE Governor Carney in an interview yesterday reiterated that interest rate increases will be “limited and gradual” with some very big persistent forces likely to conspire collectively to keep the level of interest rates down”. “However with other major central banks not yet even seriously considering rate hikes, even the prospect of very gradual and modest BoE rate hikes ahead is likely to continue boosting the relative attractiveness of the pound further”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 17, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 18, 2014 Author Share Posted February 18, 2014 Eurozone ZEW Survey - Economic Sentiment: 68.5 in February Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 18, 2014 OctaFX.Com News Updates GBP/USD pushing through 1.6720 FXStreet (Guatemala) - GBP/USD has continued on and is looking better bid now with the release of the lowest read NAHB housing read in the US since May. GBP/USD got a slight lift and has been attempting 1.6730 and towards yesterdays highs in 1.6740 after NAHB housing read 46 vs the 56 consensus and previous 56 indicating the housing market trend in the US has taken a turn for the worst. Next up for tomorrow, BoE minutes and the Unemployment Rate for the UK. GBP/USD Levels The 20 DMA is 1.6502. The 50 DMA is 1.6445 and the 200 DMA is 1.5874. RSI (14) reads 52.37. Supports are ascending from 1.6623, 1.6644, 1.6667 and1.6694. Spot is 1.6724 while resistances are 1.6757, 1.6796, 1.6823 and 1.6845. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 18, 2014 OctaFX.Com News Updates USD/CAD keeping to a tight range FXStreet (Guatemala) - USD/CAD has remained in sideways mode this week, but despite this, the daily chart shows USD/CAD nearing the 40-day MA (1.0927) which was strong support for the market at the start of the year. Strategists at TD Securities explained that USD/CAD’s drift lower has slowed over the past few days, leaving the market’s sideways shift to put the spot rate in touch with the upper boundary of the corrective channel in place from the late January high above 1.12. “Short-term trend momentum remains geared to the downside and we continue to view the 1.09 area as reachable in the near-term before the broader corrective pattern starts to slow and risk/reward considerations shift towards favouring USD longs. Above 1.0985/95 near- term will be more USD-supportive more immediately and reduce the risk of an extension lower towards 1.09”. The analysts continued and said, “The 40-day MA plus the corrective retracement supports noted on the short-term chart above imply very strong support for funds in the low 1.09 area. We favour looking to buy USD dips against this support zone”. USD/CAD Levels The 20 DMA is 1.1066, the 50 DMA is 1.0852 and the 200 DMA is 1.0503. RSI (14) reads 52.60. Supports are ascending from 1.0842, 1.0875, 1.0905, 1.0940 Spot is 1.0964 while resistances are 1.1026, 1.1095, 1.1123 and 1.1138. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 18, 2014 OctaFX.Com News Updates Flash: UK Inflation outlook is bearish - RBS FXStreet (Guatemala) - Strategists at RBS noted that the January 2014 inflation data in the UK is forecast to fall to 1.7% in February. Key Quotes: “CPI inflation fell to 1.9% in January, its first sub-target outturn since November 2009 and below City forecasts (consensus & RBS: 2.0%). The fall was driven by core CPI inflation, which declined to 1.6% from 1.7%, some way below consensus expectations at 1.9% (RBS: 1.7%). There were broad-based declines in inflation in January: of the 12 main CPI inflation sub-categories, 6 were down, 3 unchanged, 3 higher”. “CPI inflation is forecast to fall to 1.7% in February, primarily reflecting energy price disinflation (powerful base effects)”. “Core CPI inflation is forecast to remain at 1.6%. The core rate has fallen rapidly but declines have been broad-based”. “RPI & RPIX inflation are forecast to fall to 2.7% in Feb from 2.8% in Jan”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 18, 2014 OctaFX.Com News Updates Hungary further cuts rates in bid to unfreeze economy FXStreet (London) - The Hungarian central bank showed today that it has not finished with its easing cycle that began in August 2012. The latest 15bps cut takes the benchmark interest rate set by the Magyar Nemzeti Bank from 7 percent at the beginning of its cycle to a current 2.7 percent. The rate cut went further than expectations of a 10bps drop, and comes after the forint hit a two-year low against the dollar. The aggressive approach from the Hungarian central bank has been driven by concerns over retreating investor demand for emerging market economies as the US Federal Reserve scales back its asset purchases. Though the central bank remains dovish in its outlook, there was some change in language accompanying the rate cut. “Further cautious easing may follow,” was replaced by “will decide on the need and possibility for continuing the easing cycle”. However projections for Hungarian inflation remain benign, with the central bank stating that it sees “a significant degree of unused capacity in the economy”. While Turkey has drastically hiked rates in an attempt to slow lira depreciation, the Hungarian central bank has argued that, unlike Turkey and others who have run a current account deficit which places them at greater risk in tightening conditions, Hungary’s current account puts it in a much stronger position. The central bank argues that its flatlining inflation (albeit largely as a result of state directed utility price controls) gives it space to ease monetary policy. In addition to the 430 bps of headline interest rate cuts carried out over 19 consecutive months by the Hungarian central bank, it has also mooted a HUF2.75trillion/USD12.2bn credit facility in a bid to prop up private lending and stimulate growth. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 18, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 18, 2014 Author Share Posted February 18, 2014 US sells $30 Bn in 6-month bills at 0.075% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 18, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
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