OctaFX_Farid Posted June 5, 2014 Author Share Posted June 5, 2014 Canada Ivey Purchasing Managers Index s.a registered at 48.2, below expectations (56) in May Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 05, 2014 OctaFX.Com News Updates Mexico Consumer Confidence rose from previous 90.3 to 90.7 in May Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 05, 2014 OctaFX.Com News Updates USD/JPY declines to daily lows FXStreet (San Francisco) - The US Dollar is falling across the board and the USD/JPY is declining to session lows as risk appetite eased ahead of tomorrow's nonfarm payrolls. In addition, the "USD/JPY has stalled repeatedly ahead of 102.85, the 61.8% retracement of the 104.14/100.79 drop and prices have come back under pressure," comments Jamie Coleman from FXBeat. So now again. Currently, USD/JPY is trading at 102.45, down 0.27% on the day, having posted a daily high at 102.79 and low at 102.34. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish. USD/JPY sentiment Supports are at 102.25 and more stops just below. Above the 102.85 USD/JPY has resistances at 103.02 level. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 05, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 6, 2014 Author Share Posted June 6, 2014 It is still all about the Fed – Rabobank FXStreet (Guatemala) - Jane Foley, Senior Currency Strategist at Rabobank suggested that the ECB’s went further than expected yesterday with its list of monetary policy measures. However, by the close of the European trading session yesterday EUR/USD had already given back all of its post announcement losses. Key Quotes: “It seems that after years of extraordinary policy measures from various central banks the market has become sceptical as to their potential impact”. “Huge volumes of QE by the Fed, the BoJ and the BoE have been successful at stoking stock markets gains and in many countries house prices inflation also”. “However, slow growth and elevated levels of unemployment are still widespread across the developed world. The ECB’s new TLTRO may appear to be a reasonable concept to push cheap lending out to SMEs in the most stressed regions of the Eurozone”. “However, it is not clear to what extent banks will want to lend into this very risky sector particularly in an environment in which they are paying back existing LTRO borrowing. All these scepticism sits on top of the fact that the dovish warnings of ECB President Draghi in the May meeting had convinced investors to take short EUR positions.” “The ECB over the past few weeks has thus managed to engineer only a “buy of the rumours, sell on the fact” pattern for the EUR; it seems that the ECB’s ability to set the EUR into a new downtrend is still limited. Going forward there is reason to suspect that downside potential in EUR/USD could be evasive until USD bulls re-emerge in force”. “Although there are signs that US growth is picking up after a horrible winter, economic data are not sufficiently strong to draw the bulls back to the market”. “Adding to the torpor of the dollar is the perception that it would take a rocket to move the Fed from its present course of monetary policy. While the Fed is gradually reducing the size of its monthly assets purchases, it has persuaded the market that rates will remain at their all time long for a prolonged period. We expect that the Fed funds rate will not be raised until the very end of 2015 at the earliest and afterwards that the pace of tightening will be slow”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 06, 2014 OctaFX.Com News Updates AUD/USD back to the start again FXStreet (Guatemala) - AUD/USD> is trading at 0.9326, down -0.14% on the day, having posted a daily high at 0.9360 and low at 0.9319. AUD/USD is back into Asia levels where FX ranges were vey narrow as traders awaited the events in the US session in the jobs data. The US non-farm payrolls rose by 217k in May, very close to consensus. Still, this is a bit of a relief, according to Teunis Brosens, analyst at ING Bank NV, as earlier indicators this week on balance pointed towards some downward risk. “This is the fourth month in a row with job growth above 200k. This includes the winter bounce back, however. Average job growth over the past 6 months is 192k, which is a continuation of the trend growth seen since early 2011. A major hallmark today is that the total number of jobs finally rose above the pre-crisis peak of 138.4m jobs reached in January 2008”…. "In total, this is a solid report showing the continuing gradual improvement of the US labour market”. However, he added that there simply is no evidence of wage inflation yet. “Consequently, we see little likelihood that the Fed will deviate from their established $10bn per meeting taper pace at the upcoming FOMC-meeting (18-19 June)”. AUD/USD next week In respect of the week ahead for Australian, strategists at TD Securities noted the following highlights: “May Business Confidence and Conditions will be keenly watched to gauge whether sentiment has shifted significantly following the Federal Budget and after last week’s poor Building Approvals data, Apr Home loan data takes on more importance, both data releases out on Tues. Westpac Consumer Confidence for Jun is out on Wed followed by the May Jobs report on Thurs”. AUD/USD Levels Spot is presently trading at 0.9327, and next resistance can be seen at 0.9332 (Hourly 20 EMA), 0.9340 (Weekly High), 0.9341 (Daily Open), 0.9348 (Yesterday's High) and 0.9357 (Weekly Classic R1). Next support to the downside can be found at 0.9319 (Daily Low), 0.9315 (Daily Classic PP), 0.9288 (Daily 20 SMA), 0.9284 (Weekly Classic PP) and 0.9283 (Hourly 100 SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 06, 2014 OctaFX.Com News Updates EUR/JPY remains capped on the upside, 140 remains key FXStreet (Guatemala) - EUR/JPY is trading at 139.82, down -0.05% on the day, having posted a daily high at 140.00 and low at 139.38. EUR/JPY has recovered from below the half way mark on the handle but offers are protecting ground much beyond 139.80 on the bid. Karen Jones, chief analyst at Commerzbank noted that the market’s correction higher has so far stalled at 140. “The near term move higher will make little impact on our negative bias while capped by 141.00 and the 2014 downtrend at 141.93. We look for it to struggle above 140”. EUR/JPY is about ECB and EUR/USD ranges Jim Reid , analyst at Deutsche Bank A explained that the ECB has bought itself some time and seems to be ready to wait for quite a while, possibly next year, for the next step. In terms of the performance of the euro, and taking into consideration of the implications for the EUR/JPY cross, Strategists at the bank explained that conditions are still set in place for a range-bound EUR/USD over the summer months but are worried near term about a potential squeeze higher, particularly given the currency’s propensity to rise after every ECB meeting over the last 12 months and real rates suggesting fair value closer to 1.38. Meanwhile, analyst at Rabobank said to expect EUR/USD to remain mostly confined in the 1.36 to 1.38 area on a 3 mth view and edge down towards the 1.35 area by the end of the year. EUR/JPY Levels Spot is presently trading at 139.83, and next resistance can be seen at 139.90 (Weekly High), (Daily Open), 140.00 (Daily High), 140.02 (Yesterday's High) and 140.12 (Weekly Classic R2). Support below can be found at 139.71 (Hourly 20 EMA), 139.56 (Hourly 100 SMA), 139.55 (Daily 20 SMA), 139.53 (Daily Classic PP) and 139.44 (Weekly Classic R1). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 06, 2014 OctaFX.Com News Updates Technical market observations - RBS FXStreet (Guatemala) - Strategists at RBS offered a snap shot of technical observations across the markets. Key Quotes: "Bunds stuck between retracements, a 144.00 – 146.00 range likely for the next week". "Treasuries reached the downside targets, but bounced from 50-DMA; more downside expected after correction". "Gilts reached the 109.24 level; after a bullish correction, further move South expected". "S&P-500 might have a correction from the 1,949 resistance, but remains bullish overall targeting 2,030". "Italian 10-yr yield broke a key resistance level, making the market bullish towards 2.41% and potentially below". "EUR/USD FX seems to have formed a long-term base after bouncing from 1.35 amid H&S pattern". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 06, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 6, 2014 Author Share Posted June 6, 2014 GBP/USD bearish/neutral outlook - Scotiabank FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained GBP is ending the week having made gains and broken out of its tight range. Key Quotes: Data today included falling inflation expectations, rising interest rake hike expectations and a widening of the trade deficit; however as the market continues to digest ECB policy and anticipates nonfarm there was limited GBP reaction to the domestic side." "GBP/USD short‐term technicals: bearish but rapidly shifting towards a more neutral outlook. GBP’s ability to break through the topside of its range is encouraging for GBP bulls; however a significant catalyst, like a hawkish turn at the BoE, would be needed to see GBP break above its ytd high of 1.6996." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 06, 2014 OctaFX.Com News Updates Have a good weekend, it’s been a dull one – Societe Generale FXStreet (Guatemala) - Kit Jukes, Global Head of Currency Strategy at Societe Generale bids us a good weekend at the end of the week. Key Quotes: “My parting thought for the weekend after a 'meh' NFP that points to a better Q2 for the US economy than Q1, an uptrend in wage growth so gradual it makes a tortoise look energetic, and a pace of hours worked which is barely keeping up with GDP". "The US economy can generate enough jobs to keep the unemployment rate going down, but not enough to worry the Fed. The result is a a very risk-friendly environment as investors are forced to look for some kind of return, somewhere else. Mexico's response, taking the opportunity to cut rates by 50bp as money flows into their bond market, sums it up which entertained me, it shows the standard deviation of the last 24 monthly payroll changes, over the last 50-something year. Not only are we at less than half the average, but we are at an all-time low. Never has the first Friday of the month been so dull! And it's going to get even worse next month, when the first Friday is July the 4th”. “So, have a quiet one...” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 06, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 7, 2014 Author Share Posted June 7, 2014 Have a good weekend, it’s been a dull one – Societe Generale FXStreet (Córdoba) - On a low volatility American session, the US dollar consolidate modest daily gains, trimming part of yesterday's losses. The US employment report generated little impact among currencies: Greenback initially fell but then rebounded strongly. Over the week the best performers were the Pound and the Australian Dollar. The GBP/USD ended the week above 1.6800, rebounding from 1.6700 while the AUD/USD, supported by 0.9200, was able to climbed back above 0.9300. The Euro and the Swiss Franc surged on Thursday and consolidate on Friday, to end the week little changed. The EUR/USD ended hovering around 1.3640, at the same level it had a week ago, but far from Thursday’s lows that lie at 1.3502. The Kiwi and the Aussie were supported by risk appetite and managed to closed the week with gains but still facing some downside pressure ahead of the RBNZ meeting and the Australian employment report. Main headlines in the American session USD/JPY giving us a bullish technical play Wall Street rallied for third day GBP/JPY post highest weekly close in a month GBP/USD sustained uptrend in place EUR/USD steady around 1.3635 NZD/USD testing downside ahead of dovish RBNZ prospects OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 07, 2014 OctaFX.Com News Updates EUR/USD to regain recent uptrend? – ANZ FXStreet (Guatemala) - Tim Riddell, Head of Global Markets Research, explained the recent slippage below 1.3775 in EUR/USD has increased the possibility that a medium-term cycle has completed on the virtual test of 1.4000. Key Quotes: “This does not necessarily mean a collapse, but more likely a corrective pullback over coming months”. “Although a distinct wedge-like pattern has been broken, confirmation of the potential pullbacks towards 1.3250 (or even 1.3015) would only be gained on a weekly close below 1.3475”. “As noted, the expected profile is one of corrective pullbacks and so it is highly likely that there will be periods of sharp squeezes to threaten - but fail - to regain the recent uptrend”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 07, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 10, 2014 Author Share Posted June 10, 2014 Euro wakes up from lethargic range – FXStreet FXStreet (Barcelona) - FXStreet Chief Analyst Valeria Bednarik suggests that even though the European calendar is light today, earlier remarks from Angela Merkel on the fragility of the recovery in the area and ECB policymakers' comments on the easing measures caused the euro to wake up from its lethargic range, breaking lower and reaching 1.3556. Key quotes “Nevertheless, the technical picture shows an increase in the bearish potential, with indicators finally detaching from their midlines and accelerating south, while the slide extends below moving averages. ” “Pressuring daily lows, immediate short term support stands in the 1.3520/30 price zone, followed by 1.3476, this year low. Large stops should lay under it and if triggered, the selloff will likely extend over the upcoming days.” “To the upside now, 1.3600 figure stands as immediate resistance, with a break above it pointing for a recovery up to 1.3640 price zone, albeit hardly seen at this point.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 10, 2014 OctaFX.Com News Updates USD/CAD deflates from highs FXStreet (Edinburgh) - The USD-rally is now losing vigour, dragging the USD/CAD to test the critical 1.0900 handle after hitting session tops near 1.0920. USD/CAD capped by 1.0960 Spot continues to correct lower from recent peaks around 1.0960 bolstered by better risk sentiment, although the greenback seems to be recovering from recent pullbacks. “We still view the broader trend here as positive, however, and still prefer to look for opportunities to buy USDs. USDCAD has struggled to push back through the 40-day MA in the past few weeks so an extension through the low 1.09s and a firm close is a basic pre-requisite for a more positive, short-term view of the market”, observed Shaun Osborne, Chief FX Strategist at TD Securities. USD/CAD levels to consider As of writing the pair is up 0.01% with the next hurdle at 1.0.962 (high Jun.5) ahead of 1.1001 (21-w MA) and finally 1.1007 (high May 2). On the downside, a break below 1.0875 (low Jun.9) would expose 1.0814 (low May 8) and then 1.0762 (low Jan.8). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 10, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 10, 2014 Author Share Posted June 10, 2014 EUR/USD recovery capped by 1.3560 FXStreet (Córdoba) - After the latest recovery attempt was capped by the 1.3560 area, the EUR/USD is back headed south following better-than-expected US wholesale data. US wholesale inventories rose 1.1% in April, while wholesale sales climbed 1.3%, the Commerce Department reported Tuesday. The EUR/USD dropped back below 1.3550 and it is currently trading at 1.3545, recording a 0.35% loss on the day. EUR/USD outlook Valeria Bednarik, chief analyst at FXStreet notes that US-Eurozone yield spreads are weighing on the EUR/USD in absence of economic data. “The 4 hours chart shows a strong bearish momentum, with indicators finally moving away from neutral readings. 1.3520 comes as immediate support, and once broken, the pair has room to extend down to 1.3476, YTD low”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 10, 2014 OctaFX.Com News Updates EUR/USD under pressure amid lack of market moving data - FXStreet FXStreet (Barcelona) - FXStreet Chief Analyst Valeria Bednarik points out that investors concentrate currently on bond markets, as after the last ECB meeting local yields can’t stop falling, some paying even less that US ones, currently rising near 2.5%, while the EUR/USD remains under pressure, trading at its lowest level in three days. Key quotes “The hourly chart shows a strong bearish acceleration sent indicators to oversold levels where it stand, while 20 SMA gain a strong bearish slope offering now resistance around critical 1.3570 price zone.” “The 4 hours chart shows also a strong bearish momentum, with indicators finally moving away from neutral readings." "1.3520 comes as immediate support, and once broken, the pair has room to extend down to 1.3476, this year low.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 10, 2014 OctaFX.Com News Updates USD/JPY holds support at 102.20 FXStreet (Córdoba) - The USD/JPY bounced off lows and reached fresh session highs following the release of better-than-expected US wholesale inventories. The USD/JPY found support once again at the 102.20 area, which has already contained the downside during the European morning, and turned north, climbing to a session high of 102.41. At time of writing, the pair is trading at the 102.35 area, still 0.17% below its opening price. USD/JPY technical outlook Valeria Bednarik, chief analyst at FXStreet notes that the USD/JPY holds a slightly negative tone. “Below 102.05, the pair can extend its slide down to 101.70, while below this latter, bears will take full control”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 10, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 11, 2014 Author Share Posted June 11, 2014 United States EIA Crude Oil Stocks change came in at -2.596M below forecasts (-1.3M) in June 6 Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 11, 2014 OctaFX.Com News Updates EUR/USD unable to attract buyers limited below 1.3570/80 price zone - FXStreet FXStreet (Barcelona) - FXStreet Chief Analyst Valeria Bednarik EUR/USD remarks that EUR/USD bounced some after posting a daily low of 1.3521, still unable to attract buyers limited below 1.3570/80 price zone, former lows and immediate resistance. Key quotes “The hourly chart shows price above its 20 SMA but indicators turning flat around their midlines, loosing early upward momentum.” “In the 4 hours chart indicators aim slightly higher from oversold levels, supporting current upward corrective movement, albeit 20 SMA maintains a strong bearish slope, offering dynamic resistance also around 1.3580.” “With no much news to move the pair, market players are keeping their eyes on yields differentials and stocks, the first shrinking the second falling.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 11, 2014 OctaFX.Com News Updates GBP/USD rally stalls a few pips below 1.6800 - FXStreet FXStreet (Barcelona) - As FXStreet Chief Analyst Valeria Bednarik observes, the GBP/USD rally stalled a few pips below the 1.6800 figure after better than expected UK employment reading gave Pound a lift across the board. Key quotes “The hourly chart shows the strong upward momentum prevails as per indicators heading north above their midlines, and price steady above a mild bullish 20 SMA currently around 1.6750.” “In the 4 hours chart price was unable to extend beyond its moving averages 20 SMA and 200 EMA, both converging in the 1.6790 price zone while indicators lost upward strength around their midlines. ” “Critical resistance stands around 1.6820, yesterday’s high and the daily descendant trend line coming from this year high. Only above this level the pair will be able to extend its rally, looking then for a test of 1.6860 price zone.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 11, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 11, 2014 Author Share Posted June 11, 2014 AUD/USD fails to hold above 0.9400 FXStreet (Córdoba) - The AUD/USD made an appearance above 0.9400 at the beginning of the American session but failed to sustain gains for long and pulled back slightly. The AUD/USD briefly rose above the 0.9400 mark and scored a fresh 1-month peak of 0.9405 before sliding back to the 0.9385 zone, where it holds onto a 0.14% gain on the day. The AUD/USD has risen 6 out of the 8 trading days of June, printing higher highs on daily basis, helped by carry trades flows. AUD/USD technical perspective Valeria Bednarik, chief analyst at FXStreet notes that short-term technical indicators are losing their bullish strength, but she notes that “only below 0.9360 the pair will come under some selling pressure, while steady gains above 0.9400 are required to confirm an advance up to 0.9460 this year high”. Bednarik locates next resistance levels at 0.9390, 0.9430 and 0.9460, while supports are seen at 0.9360 0.9325 0.9290. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 11, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 12, 2014 Author Share Posted June 12, 2014 India Industrial Output rose from previous -0.5% to 3.4% in April Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 12, 2014 OctaFX.Com News Updates India Industrial Output rose from previous -0.5% to 3.4% in April Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 12, 2014 OctaFX.Com News Updates United States Business Inventories above expectations (0.4%) in April: Actual (0.6%) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 12, 2014 OctaFX.Com News Updates United States EIA Natural Gas Storage change below expectations (111B) in June 6: Actual (107B) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 12, 2014 OctaFX.Com News Updates USD/JPY stuck around 102.00 - FXStreet FXStreet (Barcelona) - FXStreet Chief Analyst Valeria Bednarik notes that USD/JPY remains stuck around the 102.00 level, having been unable to move anywhere far over the last 24 hours. Key quotes “The hourly chart shows 100 SMA crossing to the downside 200 one both above current price, while indicators head lower in neutral territory.” “In the 4 hours chart a mild bearish tone prevails, albeit showing no directional strength, as indicators stand flat in negative territory.” “Break below 101.70 is now required to confirm a leg lower, eyeing the 101.20/30 price zone.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 12, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 13, 2014 Author Share Posted June 13, 2014 United Kingdom CB Leading Economic Index increased to 0.5% in April from previous 0.3% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 13, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 13, 2014 Author Share Posted June 13, 2014 United States Producer Price Index ex Food & Energy (YoY) came in at 2%, below expectations (2.3%) in May Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 13, 2014 OctaFX.Com News Updates Poland M3 Money Supply (YoY) fell from previous 5.4% to 5.3% in May Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 13, 2014 OctaFX.Com News Updates Policy rate cut limits MXN appreciation potential - UBS FXStreet (Córdoba) - The UBS analyst team observes that the recent policy rate cut by the Mexican Central Bank limits the appreciation potential of the Mexican peso (MXN). Key Quotes "The recent policy rate cut by the Mexican central bank limits the appreciation potential of the Mexican peso, in our view". "Meanwhile, faster growth and inflows from foreign direct investments, triggered by the implementation of recently approved reforms, are expected to remain supportive factors". "Still, we trim our benign view on the Mexican peso somewhat and therefore revise our three, six and 12-month forecasts to 12.9, 12.9 and 12.7, respectively, from 12.7, 12.7 and 12.5 previously". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 13, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 13, 2014 Author Share Posted June 13, 2014 Trying to gauge the impact of the ECB – Rabobank FXStreet (Guatemala) - Analysts at Rabobank explained that for months there has been speculation as to what reaction a negative deposit rate from the ECB would have. Key Quotes: “It is still very early days the past couple of sessions have offered a little insight”. “Unsurprisingly overnight deposits at the ECB plunged to their lowest level since 2011 on the first day the negative rate took effect. Deposits by Eurozone banks totalled a meagre EUR13.6 bln down EUR25 bln from the previous day (though banks deposited an additional EUR16.7 bln in their current accounts held at the national central banks)”. “At least one bank has made the announcement that it will no longer deposit surplus cash at the ECB, although it seems likely that many international banks have had a strong incentive to swap into alternative currencies since the deposit rate was pushed down to zero”. “While it is difficult to drawn firm conclusions as to any changes in banks’ behaviour at this stage, money market rates have pushed lower as a consequence of the ECB action to levels well below last month’s average and the yield on Germany’s 2 year note has hit its lowest level in a year”. “The reaction in interest rates has led to talk of the EUR potentially being used as a funding currency for carry trades. However, in a region as complex as the Eurozone, the term ‘carry trade’ should be used with caution. Positive ‘carry’ on peripheral bond yields has been fundamental to EUR resilience since late 2012”. “The ECB’s threat that QE could yet be invoked could therefore lend the EUR support if it increased demand for bonds. The ECB will be aiming to engineer a fall in net demand for the EUR through the changes in monetary policy instruments”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 13, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 16, 2014 Author Share Posted June 16, 2014 United States Total Net TIC Flows up to $136.8B in April from previous $-122.3B Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 16, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 16, 2014 Author Share Posted June 16, 2014 USD/JPY uninspired by US data FXStreet (Córdoba) - The USD/JPY edged a tad higher but remained down on the day after data showed US industrial production grew slightly above expectations in May. US industrial production rose 0.6% in May after falling 0.3% in April, surpassing forecast of a 0.5% increase, while capacity utilization rose to 79.1 from a revised 78.9 in April. The USD/JPY climbed a few pips after the data, which hardly classifies as a recovery, but lacked momentum. At time of writing, the USD/JPY is trading at the 101.85 zone, still down 0.2% on the day. USD/JPY technical outlook Valeria Bednarik, chief analyst at FXStreet notes the USD/JPY maintains a short-term bearish tone. “Nevertheless, the pair is seeing little action this Monday, finding short term support around 101.70”, said the analyst. “Some follow through either below 101.70 or above 102.35 is required to confirm some directional move in the pair”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 16, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 17, 2014 Author Share Posted June 17, 2014 United States Redbook index (YoY) rose from previous 3.3% to 3.5% in June 13 Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 17, 2014 OctaFX.Com News Updates USD/JPY jumps after US CPI FXStreet (Córdoba) - The USD/JPY jumped and hit fresh daily highs at the beginning of the American session after data showed US consumer inflation rose at a faster pace in May. US consumer inflation index rose 2.1% YoY in May, while core CPI hit 2.0%, matching the Fed target. On the other hand, housing starts dropped more than expected, leaving room for the Fed to continue withdrawing monetary stimulus at at a moderate pace. As for the USD/JPY, the pair climbed back above 102.00 as the greenback gains on the data, hitting a 6-day peak of 102.18 before slowing. At time of writing, the USD/JPY is trading at the 102.15 zone, recording a 0.32% gain Tuesday. USD/JPY technical levels In terms of technical levels, the USD/JPY could find next resistances at 102.20 (100-day SMA), 102.38 (Jun 11 high) and 102.56 (Jun 10 high). On the flip side, supports are seen at 101.80 (Jun 17 lowl), 101.60 (Jun 12 low) and 101.54 (200-day SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 17, 2014 OctaFX.Com News Updates Bumpy ride for GBP/USD on US and UK inflation numbers FXStreet (London) - GBP/USD has seen a choppy day of trading, first declining on weaker-than-expected UK inflation numbers before recovering, followed by a second decline on higher US inflation numbers. More space for loose BoE policy The Office for National Statistics reported that consumer prices index-measured inflation (CPI) grew by 1.5 percent in the year to May 2014, down from 1.8 percent in April. Prices rose less than the consensus expectation of a 1.7 percent gain year-on-year. Sterling fell sharply against its peers on the assumption that the benign inflation data would give the Bank of England room to leave rates low for longer, despite the conspicuously more hawkish tone adopted by BoE governor Mark Carney and deputy governor Charlie Bean in recent comments According to the ONS, falls in transport services costs, notably air fares, provided the largest contribution to the decrease in the rate. Other large downward effects came from the food & non-alcoholic drinks and clothing sectors. The largest offsetting upward effects came from motor fuels and recreation & culture. The weaker UK inflation helped to buck a four-day rally in GBP/USD after it climbed to a multi-year highs, breaking through USD1.700 for the first time since 2009. Data checks GBP gains The pair recovered through the morning session but declined again on stronger-than-expected US inflation numbers. Stronger US inflation numbers The US Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in May on a seasonally adjusted basis. Year-on-year, the all items index increased 2.1 percent before seasonal adjustment. The BLS reported that the seasonally adjusted increase in the all items index, which was the largest since February 2013, was broad-based. The indexes for shelter, electricity, food, airline fares, and gasoline were among those that contributed. The food index posted its largest increase since August 2011, with the index for food at home rising 0.7 percent. The increases in the electricity and gasoline indexes led to a 0.9 percent rise in the energy index. GBP/USD is currently trading at USD1.6964, hitting a session-low of USD1.6941 on the UK inflation numbers before testing resistance at USD1.6950 on US data. The pair is currently down 0.09 percent on the session. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 17, 2014 OctaFX.Com News Updates USD/JPY trading at weekly high FXStreet (London) - Following better than expected US CPI data, USD/JPY has pushed on to post a weekly high at 102.23. USD/JPY led higher by US inflation data While the main act this week is undoubtedly the FOMC meet tomorrow, US CPI numbers led the way this afternoon, coming in better than expected YoY CPI bettering expectations at 2.1%/2% and MoM 0.4%/0.2%. CPI ex Food and Energy also beat expectations too. However, both Housing Starts and Building permits missed forecasts and declined on previous. The pair had had a choppy start to the days trading, climbing to post an overnight high at 102.02 before retracing into a range throughout the European session. However, US data gave the pair the impetus to crack on higher to post a high at 102.23. Dating back to June 12th, the pair has faced resistance just above the 102 mark, but managed to get its head above the June 12th and 13th highs at 102.14. Spot has edged back from highs and is finding support at the 1H 200 SMA at 102.20. USD/JPY Technicals USD/JPY is up 0.36% on the day at 102.19, having previously posted a daily high at 102.26 and a low at 101.81. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish. Meanwhile, daily RSI is in neutral territory at 45.59. Hourly 2-Standard Deviation Volatility Bandwidth is currently 38 pips, and has been expanding, while the ATR (14) is currently 6 pips. On a daily chart, 2-Standard Deviation Volatility Bandwidth is shrinking at 152 pips. USD/JPY Levels Current price is 102.20, with resistance ahead at 102.22 (Daily 100 SMA), 102.26 (Daily High), 102.28 (Daily Classic R2), 102.35 (Weekly High) and 102.46 (Daily Classic R3). To the downside we see next support at 102.19 (Hourly 200 SMA), 102.11 (Yesterday's High), 102.10 (Weekly Classic PP), 102.08 (Daily 20 SMA) and 102.06 (Daily Classic R1). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 17, 2014 OctaFX.Com News Updates Dollar strength sends USD/JPY back above 102.00 - FXStreet FXStreet (Barcelona) - As FXStreet Chief Analyst Valeria Bednarik remarks, post-CPI dollar strength sent USD/JPY back above the 102.00 figure, with the hourly chart showing price advanced up to its 200 SMA where it halted. Key quotes “The hourly chart shows a strong upward momentum coming from technical readings, albeit this area has proved tough over the last few days.” “In the 4 hours chart technical readings present a mild positive tone, yet some follow through past 102.35 is require to confirm a stronger advance in the short term. ” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 17, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 18, 2014 Author Share Posted June 18, 2014 Dovish BoE Minutes weigh on GBP/USD - FXStreet FXStreet (Barcelona) - As FXStreet Chief Analyst Valeria Bednarik points out, GBP/USD has lost some ground amid dovish BoE Minutes that have shown no change in the votes, down to 1.6931 on the day, but the pair is back at 1.6950 currently. Key quotes "The hourly chart shows a mild bearish tone, as per price holding below its 20 SMA and indicators in negative territory, while the 4 hours chart shows indicators turning also lower around their midlines." "Price has stood above post Carney’s wording on rate hikes high, so the upside continues to be favored, with a break above 1.7000 still required to confirm a new leg up." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 18, 2014 OctaFX.Com News Updates USD/CAD holds above 1.0855 ahead of the FED FXStreet (Córdoba) - The USD/CAD remains quiet on Wednesday, as investors await for the FOMC statement and Yellen’s press conference. The Loonie is falling modestly against the US dollar for the second day in a row, but trading remains limited. Currently the pair trades at 1.0866, up 0.06% for the day, moving in a range below 1.0875 and above 1.0855. USD/CAD technical outlook According to FX Analysts at TD Securities, the pair is picking up more support on the short term chart but the market remains essentially range-bound. “We look for a little more topside progress over the course of the session but we still have to think that near-term gains will struggle to push on through resistance in the high 1.08s for the moment”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 18, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 18, 2014 Author Share Posted June 18, 2014 AUD/USD quiet, in a 20 pips range FXStreet (Córdoba) - The AUD/USD climbed to 0.9347 after Wall Street opening, hitting a fresh daily high and currently trades at 0.9338, marginally higher for the day. The currency market remains calm and quiet, with low volatility ahead of the FOMC statement. The Aussie is rising against the US dollar but is moving in a small trading range between 0.9330 and 0.9345, consolidating after losing more than 60 pips on Tuesday. AUD/USD holds despite weak AUD The Australian Dollar is among the worst performers on Wednesday so far but a falling Greenback is giving support to the AUD/USD. Against the Kiwi is trading at the lowest level in 4-weeks; the AUD/NZD broke below 1.0770 and tumbled to 1.0755. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 18, 2014 OctaFX.Com News Updates NZD/USD hit fresh highs before FOMC FXStreet (Córdoba) - The NZD/USD rose further after Wall Street opening and climbed to 0.8688, hitting the strongest level in two days. The pair holds near the highs ahead of the FOMC statement, to be released in a few minutes. The Kiwi is among the best performers on Wednesday and is rising across the board. NZD/USD approaches 0.8700 During the last days the pair has been trading in a range below 0.8700. The mentioned level is an important resistance that capped the rally from 0.8410. If it breaks above 0.8700 it would be trading at 6-week highs. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 18, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 18, 2014 Author Share Posted June 18, 2014 United States Fed Interest Rate Decision: 0.25% (June 18) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 18, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 19, 2014 Author Share Posted June 19, 2014 Not much to get worried about in UK retail sales data - TD Securities FXStreet (Łódź) - Tim Davis, Vice President and Global Strategist at TD Securities, comments on the UK retail sales data released earlier on Thursday, saying that looking through the details there's not much to get worried about. Key quotes "Fuel and especially food were the big downsides while most other components rose on the month. The food side is some unwind from the Easter adjustments still, and whatever World Cup effect there was in May (with football shirts selling well) will be even better in June, especially into some of the higher value items like TVs." "There was also evidence of decent discounting from retailers on the month which overall would continue to point to decent purchasing power from consumers." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 19, 2014 OctaFX.Com News Updates EUR/GBP points to consolidation – Westpac FXStreet (Edinburgh) - The cross would now attempt to consolidate the recent decline, before embarking in the next trip lower, commented analysts at Westpac. Key Quotes “The BoE’s minutes flagged the risk that growth may not slow as much as the BoE expects but lacked the hawkish smoking gun markets were looking for”. “EUR/GBP has come a long way now and positioning is arguably heavily short”. “EUR/GBP probably needs to consolidate recent losses for a while yet before the next down leg commences”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 19, 2014 OctaFX.Com News Updates Mexico Private Spending (QoQ) rose from previous 0.1% to 0.2% in 1Q Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 19, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted June 19, 2014 Author Share Posted June 19, 2014 EU's Rehn: EU Member States should respect fiscal pact FXStreet (Łódź) - European Commissioner for Economic and Monetary Affairs Olli Rehn assured on Thursday that the EU fiscal pact is sufficiently flexible and that it is important for EU Member States to respect it. He suggested that at the upcoming Eurogroup meeting in Louxembourg, which will be his last as EU Commissioner, Finance Ministers would most probably focus on the fairness of EU fiscal rules. Rehn also said that France is expected to meet the EU deficit objective next year. Moreover, he added that Greece should meet bailout requirements with delays but that it would return to the correct fiscal path. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 19, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
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