OctaFX_Farid Posted April 24, 2015 Author Share Posted April 24, 2015 EUR/USD drops to 1.0820 on Eurogroup FXStreet (Edinburgh) - The shared currency is now giving away earlier gains on Friday, dragging EUR/USD back to the 1.0825/20 band. EUR/USD now looks to Eurogroup presser The pair has already faded the most of the earlier spike to the 1.0900 neighbourhood following initial clues that the tone at the Eurogroup meeting between Greece and its EU creditors was far from friendly. From the Eurogroup’s press conference, EU’s P.Moscovici remarked that ‘time is running out’ for Greece while J.Dijsselbloem emphasized that there are still important differences between the parties involved, and he instigated Greece to submit a ‘comprehensive list of reforms’. EUR/USD levels to watch At the moment the pair is gaining 0.01% at 1.0825 with the next hurdle at 1.0901 (high Apr.24) ahead of 1.0914 (76.4% of 1.1036-1.0521) and then 1.0955 (high Apr.7). On the downside, a breach of 1.0769 (21-d MA) would open the door to 1.0730 (10-d MA) and finally 1.0666 (low Apr.23). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! EUR/GBP dips to fresh lows near 0.7150 FXStreet (Mumbai) - The shared currency got smashed by the British pound in the mid-European session; knocking-off EUR/GBP to fresh session lows, after the ongoing Euro group meeting which provided fresh insights on Greece reforms with EU leaders seeing little progress on the same. EUR/GBP drops from 0.7180 Currently, the EUR/GBP cross tumbled to fresh session lows at 0.7154, moving away from 0.72 barrier. The cross in EUR/GBP dived deeper in red with euro getting hammered across the board amid latest updates from Euro group meeting. The news that Greece had still not prepared a comprehensive reforms list, while the time for reaching a deal is running out and there is little progress, which may eventually lead to a Grexit weighed on the shared currency. On the other hand, the pound remains heavily bid against the US dollar, holding on to 1.51 handle. EUR/GBP Levels to consider To the upside, the next resistance is located at 0.7212 (Today’s High) and above which it could extend gains to at 0.7248 (April 20 High) levels. To the downside immediate support might be located at 0.7114 (April 23 Low) levels below that at 0.7080 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! USD/JPY cautious circa 119.50, US data in focus FXStreet (Mumbai) - The US dollar trades around a flat line versus the yen, keeping USD/JPY in the same range near119.50 levels, largely on the back of rising treasury yields which boosted USD bulls while markets now turn their focus towards today’s US durable goods data for further direction. USD/JPY awaits key US data Currently, the USD/JPY pair trades flat at 119.53, revolving around the midpoint of 119 handle. The USD/JPY continues to tread water and recovered from lows as traders anticipate a rebound in the US durables goods orders after a drop previously which may provide impetus to the greenback. The US dollar index which measures the relative strength of the greenback against a basket of six major currencies turns positive and now trades at 97.47, retreating from 96.93 lows. Meanwhile, durable goods orders from the US are likely to attract traders as the key data may provide fresh take on dollar moves. A gain of 0.6% is expected for March durable goods orders, a recovery from the huge 1.4% fall posted in Feb, while they are forecast to rise 0.3% when measured excluding transport. USD/JPY Technical Levels To the upside, the next resistance is located at 120 (50-DMA) levels and above which it could extend gains 120.45 (April 7 High) levels. To the downside immediate support might be located at 119.14 (April 22 Low) below that at 118.77 (April 16 Low) levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 24, 2015 Author Share Posted April 24, 2015 GBP/USD off highs near 1.5120 FXStreet (Mumbai) - GBP/USD trimmed gains and inched back closer towards 1.51 handle, deflating from highs near 1.5150 – psychological figure, largely on the back of a major pull back seen in the US dollar across the board erasing previous losses ahead of release of a set of major US economic data. US data awaited The GBP/USD pair trades 0.43% higher at 1.5120, retreating from fresh 5-week highs at 1.5146. The GBP/USD pared some gains as the US dollar managed to fight its way back against its major peers, wiping out entire losses ahead of US open. The US dollar index which measures the relative strength of the greenback against a basket of six major currencies recovered losses and now trades muted at 97.43, awaiting fresh incentives. Meanwhile, traders now turn their focus towards US economic releases including the major durable goods orders data amid a data dry GBP calendar, for further momentum on the pair. While Greece updates are closely monitored. GBP/USD Levels to consider The pair has an immediate resistance at 1.5196 (Feb 3 High) above which gains could be extended to 1.5250 levels. On the flip side, support is seen at 1.5028 (Today’s Low) below which it could extend losses to 1.5000 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! EUR/UD advances to 1.0870 post-US data FXStreet (Edinburgh) - EUR/USD has resumed its intraday upside following the releases in the US docket on Friday, currently testing the 1.0870 area. EUR/USD firmer on data The pair accelerated the rebound after US Durable Goods Orders surpassed estimates during March, expanding at a monthly pace of 4.0%, leaving behind forecasts for a 0.6% advance and reverting February’s 1.4% drop. Excluding the Transportation sector, orders contracted 0.2% MoM, missing estimates for a 0.3% gain. That was all from the data front on Friday, with market participants are still digesting the recent Eurogroup results and gauging the future steps of Greece ahead of the late-June deadline. EUR/USD levels to watch At the moment the pair is gaining 0.42% at 1.0869 with the next hurdle at 1.0901 (high Apr.24) ahead of 1.0914 (76.4% of 1.1036-1.0521) and then 1.0955 (high Apr.7). On the downside, a breach of 1.0769 (21-d MA) would open the door to 1.0730 (10-d MA) and finally 1.0666 (low Apr.23). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! BoJ to keep policy unchanged in its April meeting – BAML FXStreet (Barcelona) - According to BofA-Merrill Lynch, BoJ will likely keep its policy unchanged in its 30th April meeting, and lower the FY15 price outlook. Key Quotes “We expect the BoJ to leave policy unchanged at its Monetary Policy Board meeting on 30 April. Although it is likely to lower the FY15 price outlook in its Outlook report set for release the same day, we expect its outlook for inflation to start rising in the fall and reach 2% in FY16 to remain unchanged.” “Its decision to expand QQE last October was a surprise, but Governor Kuroda said at a press conference on 8 April that, unlike in October 2014, he currently sees little risk of deflation returning, and we do not think the situation has changed radically in a short time.” “If the BoJ did announce another surprise easing, it would probably cause the market to question the credibility of its statements.” “The BoJ will be forced into a more cautious monetary policy if prices do not rise in accordance with its outlook. At this stage, it will probably stick with its current QE formula built on expanding its balance sheet, but if it does opt for additional easing, given that it will be difficult for it to significantly increase the quantity of its JGB purchases and that any further declines in already low JGB yields would likely have limited impact, we think that rather than pursue greater quantity the BoJ is more likely to strengthen qualitatively, such as by lengthening the maturities of the JGBs it purchases, increasing its ETF purchases, and buying new types of financial assets.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 24, 2015 Author Share Posted April 24, 2015 Actual oil production might be higher than reported in the EIA data – KBC FXStreet (Barcelona) - The KBC Bank Research Team comments on the mismatch between weekly crude inventory estimates from the EIA and the actual figures from Petroleum Supply Monthly report, warning that the actual oil production might be higher than reported. Key Quotes “Crude inventories surprised significantly to the upside while gasoline stocks again fell quite sharply as the refinery utilization declined (it however remains relatively high in comparison with previous years). A bullish reaction to the release may be partially explained by a relatively sharp decline of domestic crude oil production.” “Rather than “hard data”, this category however contains model estimates of the production. The actual oil production may thus eventually prove to be different than that indicated by weekly data.” “In fact, over the past couple of months, the difference between first estimates contained in the Weekly petroleum status report and more accurate figures from Petroleum Supply Monthly report has been permanently negative. In other words, the actual oil production could in fact be higher than indicated by weekly production data.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 24,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 27, 2015 Author Share Posted April 27, 2015 US service sector growth rate in April eased from seven month high FXStreet (Mumbai) - The flash US Markit services Purchasing Manager’s Index (PMI) came-in at 57.8, missing the estimate of 59.00. The PMI in February stands at 59.2. The details reveal a strong increase in new work received by service providers, but the rate of expansion also eased since March. The service sector also witnessed a rise in employment, with the latest increase in payroll numbers was the steepest since June 2014. Meanwhile, the latest increase in overall input prices was the most marked for six months, although input costs were subdued in comparison to the long-term average taken since 2009. The uptick in the input also translated into higher service charges. Moreover, the latest rise in average tariffs was the sharpest since September 2014. As per Chris Williamson, chief economist at Markit, “The service sector enjoyed strong growth at the start of the second quarter, adding to evidence that the economy remains in good health. Although the pace of expansion slowed compared to March, April saw the second-largest rise in business activity for seven months. The improvement in second quarter economic growth, rising price pressures and strong job creation signalled by the PMI surveys adds to pressure on the FOMC to consider starting the process of normalising monetary policy sooner rather than later at its meeting later this week.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 27,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! JPY is flat, ignoring Fitch’s downgrade on fiscal concerns – Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, shares that USD/JPY trades within its Friday’s range, unaffected by the rating downgrade from Fitch. Key Quotes “JPY is soft, but is entering the NA session within Friday’s range and right at the 100‐day MA (119.27).” “Fitch downgraded Japan to A/stable outlook but there was limited market reaction, partially because of the high percentage of domestically held debt. The details behind the downgrade include: 1) a lack of structural fiscal measures in the budget to replace the deferred consumption tax increase; 2) the cutting of corporate tax and increase in spending; 3) an increased degree of uncertainty over the government’s commitment to fiscal consolidation.” “Fundamental data today was limited, with the highlights this week from the BoJ meeting and slew of data, including inflation.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 27,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! FOMC Meeting: Fed rates dilemma, to be ‘june’ or not to be ‘june’? – ING FXStreet (Barcelona) - Rob Carnell, Chief International Economist at ING, explains that the real problem for the Fed at this FOMC meeting will be whether to rule out a June hike or not, with markets currently pricing in a September fed rate hike. Key Quotes “We see the real problem for the Fed this time being that they cannot reasonably rule out a June hike at this meeting, even if it looks unlikely. But this leaves them with yet another textual problem for the statement. At the March meeting, the Fed dropped its reference to “patient”, but then ruled out an April rate hike saying. “Consistent with its previous statement, the Committee judges that an increase in the target range for the federal funds rate remains unlikely at the April FOMC meeting” “This now looks like it was an unnecessary precaution to prevent markets rushing to price in an April hike. But it also means that if they want to leave their options open, and do not repeat the same process by ruling out a hike in June (which would seem odd given how much the economic story may change between now and then), then there may well be a market swing back towards a more imminent hike.” “Financial markets currently price in a rate hike at the September meeting (20bp average effective Fed funds for September, with rate decision on the 17th and current effective Fed funds of about 11bp), so this could see markets pricing in an earlier hike (July?), with consequent upwards pressure on the yield curve from 30 days to 2 years, and upwards pressure on the USD.” “The longer end of the yield curve is harder to call, since this will be jointly determined by the response of the stock market, and this might well see yields fall if stocks respond badly.” “What actually happens in June remains a mystery that only the run of data in the coming weeks will eventually reveal. But the short-term response to leaving June in play at this week’s statement might cause markets to rethink their recent pessimism.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 27,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 28, 2015 Author Share Posted April 28, 2015 United States Redbook index (YoY): 1.4% (April 24) vs 0.8% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 28,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! USD under pressure ahead of FOMC – TDS FXStreet (Edinburgh) - Strategists at TD Securities assessed the potential scenarios for the greenback in light of the FOMC statement due tomorrow. Key Quotes “The USD looks very delicately poised ahead of the FOMC meeting, which gets underway today”. “This meeting is not “live” in a policy sense but the USD will take its cue from what the Fed’s statement implies about the outlook; a nod to the recent softness in the data would not be a great surprise but any hint of a delay in lift-off would still likely pressure the USD, given that broader market positioning is still heavily biased to USD longs”. “On the other hand, a steady-as-she-goes message, indicating that the Fed is looking through the recent weakness in the data as a temporary phenomenon and which keeps the H2 lift-off timetable intact would be more of a surprise for investors”. “At this point, the DXY looks poised to weaken further; the correction/ consolidation over the past 6-weeks or so leaves the index resting on (or just below) major support at 96.50 right now and the market is poised to close below the 40-day MA for a fourth consecutive session today (something not seen since July 2014); momentum traders are very likely paying close attention and it will not take much (in terms of further DXY weakness) to prompt a “pile on” short trade from this sector of the market and a broader about the USD’s near-term direction from the analyst community”. Apr 28,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! GBP/USD extends gains on a weak US data FXStreet (Mumbai) - The US saw fresh offers, thereby pushing the GBP/USD higher to a fresh session high of 1.5326 after the weaker-than-expected US consumer confidence and regional manufacturing data hit the wires. GBP/USD extends 700-pip rally The cable extended the 700-pip rally witnessed from the low of 1.4564 after the US consumer confidence data for April missed the expectation of 102.5 to print at 95.2. The Richmond Fed manufacturing index fell to -3, beating the estimate of -2. Focus now shifts to the US FOMC policy statement due for release tomorrow. The recent string of a weaker-than-expected US data convinced investors that the Fed could delay the rate hike to late 2015 or early 2016. GBP/USD Technical Levels The immediate resistance is located at 1.5344, above which the gains could be extended to 1.54. On the flip side, a break below 1.53 could push the pair down to 1.5228. Apr 28,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 28, 2015 Author Share Posted April 28, 2015 Japan risks a below consensus Q1 GDP print – BBH FXStreet (Barcelona) - The Brown Brothers Harriman Team notes that the soft Japanese data indicates that Q1 GDP might print a sub-2% print. Key Quotes “March completes the 12-month period following the sales tax increase. Retail sales have fallen 13.0% over the past year. The 1.9% decline in March (consensus was for a 0.6% increase) follows a 0.7% rise in February after a 1.9% decline in January. The weakness in consumption in Q1 warns of softer overall growth. The consensus is for 2.2% growth in Q1 GDP. We see the risks for a sub-2% number when it is reported on May 19.” Apr 28,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Mexican peso could pick up pace in the near term – JP Morgan FXStreet (Edinburgh) - The Mexican peso appears somewhat undervalued, according to analysts at JP Morgan, pointing to a recovery in the upcoming periods. Key Quotes “FX pass-through to inflation remains almost negligible, as has been the case in the last months, while activity disappointed consensus forecast, again”. “Indeed, the low inflation prints together with soft economic activity momentum (our economic activity surprise indicator for Mexico remains in negative camp) have prompted a shift in the Banxico authorities, who have toned down their hawkish stance”. “Therefore, and despite a more rangebound USD, the MXN has underperformed most Latin America peers month-to-date”. “That said, in the short-term the MXN continues to look cheap to coincidental risk metrics, and soft US data suggests a likely correction from lows”. “The relative cheapness the currency lingers, as our short-term valuation models continue to screen a cheap MXN in particular vis-à-vis the USD”. Apr 28,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Canadian dollar and crosses in a technical snapshot - TDS FXStreet (Guatemala) - Analysts at TD Securities offered the Canadian dollar and crosses in a technical snapshot. Key Quotes: "USD/CAD retains a weak technical undertone; we continue to target a slide to the low 1.19s but overshoot risks are rising." "EUR/CAD's bear trend remains intact from a broader perspective but may consolidate further near-term." "AUD/CAD's pop higher keeps the cross in a choppy (directionless) range." "GBP/CAD remains potentially well-positioned to rebound from a test of key, medium-term support." "CAD/JPY is grinding out gains." "NZD/CAD turns higher again but we think levels nearer 0.94 provide an entry point for shorts." Apr 28,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 29, 2015 Author Share Posted April 29, 2015 Germany Consumer Price Index (MoM) meets forecasts (-0.1%) in April Read more in Forex News Apr 28,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! NZD/USD might strengthen further before sellers appear – ElliottWave-Forecast FXStreet (Barcelona) - Daud Bhatti of ElliottWave-Forecast, expects NZD/USD to find sellers around 0.7860-0.7937 levels. Key Quotes “Preferred Elliott Wave view suggests NZD/USD is doing a 7 swing (WXY) structure up from 4.1.2015 low. 3 waves up to 0.7740 completed wave “W” followed by a 3 wave pull back to 0.7534 which we think complete a FLAT in wave X. Afterwards, the pair continued the rally higher and completed wave ((w)) at 0.7740.” “We are now expecting a pull back in wave ((x)) to correct the cycle from red X low (0.7534) in 3, 7 or 11 swings followed by another push higher toward 0.7860 – 0.7937 area before decline resumes. 50 – 61.8 fib area of wave ((w)) as of now lies between 0.7638 – 0.7613. Pivot at 0.7534 low should remain intact during proposed ((x)) wave pull back for us to see 1 more push higher as shown on the chart.” “Once we have seen the next leg higher toward 0.7860 – 0.7937, we expect to see sellers in that area for 3 waves lower at minimum.” Apr 28,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! USD/CAD targets 1.1800/50 in the near term – Westpac FXStreet (Edinburgh) - The pair could extend its current downside to the area of 1.1800/50, suggested strategists at Westpac. Key Quotes “Likely a 1.20-1.25 trade until further notice, with a break back through 1.25+ at some point still favoured as Canada’s self-appointed cheerleader in chief - Poloz – finds that his optimism for a strong Q2 growth bounce back proves underwhelming”. “For now he is reiterating that the Jan rate cut was "insurance" and there is no need for more. But he could be singing a different tune in coming months”. “Recent close below the Feb/Apr range and particularly the parallel channel bottom at 1.2350/80 confirms that a material multi-week top is in place in USDCAD. Target 1.1800/50 trend support”. Apr 28,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 29, 2015 Author Share Posted April 29, 2015 EUR/GBP off highs post –German data FXStreet (Edinburgh) - EUR/GBP is now returning to the 0.7160/55 band after the release of the German inflation figures. EUR/GBP eyes on US data The European cross is leaving session highs near 0.7170 after preliminary consumer prices in Germany matched consensus for the current month, rising 0.4% on a yearly basis and contracting 0.1% inter-month. Data wise in the UK, Housing Prices tracked by Nationwide rose 1.0% on a monthly basis and 5.2% on a year to April, surpassing expectations; on a different tone, the Distributive Trades survey by CBI dropped to 12 from March to April, missing estimates at 25. EUR/GBP key levels As of writing the cross is up 0.04% at 0.7161 and a break above 0.7171 (high Apr.28) would open the door to 0.7206 (high Apr.22) and finally 0.7210 (high Apr.21). On the flip side, the next support aligns at 0.7118 (low Apr.23) ahead of 0.7102 (76.4% of 0.7015-0.7385) and then 0.7093 (low Mar.16). Apr 28,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! USD/MXN recovers from lows FXStreet (Edinburgh) - The Mexican peso is now shedding some of the earlier gains vs. its northern neighbor on Wednesday, taking USD/MXN to the 15.25 area. USD/MXN bounces off 15.20 The pair dropped to fresh lows in the proximity of the 15.20 level after the US economy expanded less than previously estimates, 0.2% on an yearly basis during the first quarter vs. expectations for a 1.0% gain. The pair will remain under pressure however, in light of the upcoming results from US Pending Home Sales followed by the more relevant FOMC meeting. USD/MXN levels to watch The pair is now losing 0.12% at 15.2384 and a breakdown of 15.1883 (low Apr.28) would open the door to 15.1149 (low Apr.16) and finally 15.0717 (low Apr.10). On the flip side, the initial hurdle lines up at 15.3924 (high Apr.28) ahead of 15.4326 (high Apr.27) and then 15.4918 (high Apr.21). Apr 29,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! US growth disappoints, dollar pays price – BBH FXStreet (Barcelona) - Mark Chandler, Global Head of Currency Strategy at Brown Brothers Harriman, reviews the US GDP release, noting that the Dollar faced the brunt of much weaker than anticipated Q1 growth data, with investment falling 2.5%, seeing the biggest decline since 2009. Key Quotes “The US economy essentially stagnated in Q1, with the economy expanding 0.2% at an annualized rate. The Bloomberg consensus was a for 1% expansion, but we warned of downside risks.“ “The dollar, already under pressure, fell further. The euro has took out the $1.1050 level and sterling has moved above $1.54. The dollar failed to sustain gains above JPY119.00. However, with debt market shrugged it off and the dollar stabilized at lower levels.“ “It was a poor quarter across the board. Consumption, which jumped 4.4% in Q4 14, slowed to 1.9%, which was slightly above expectations.” “Investment fell 2.5%. It is the biggest decline since the end of 2009. It appears that no other sector has managed to pick up the slack created by the investment cuts in the energy sector. Investment in oil and mining collapsed at a nearly 49% annualized pace.“ “Government spending did not help. State and local governments cut spending by 1.5% at an annualized pace. Spending by the Federal government rose at a 0.3% pace. Net exports were a drag, subtracting 1.25% off GDP, the largest in a year. The trade deficit widened to $522 bln from $470 bln in Q4 14. Price pressures remained modest. The core PCE deflator rose 0.9%, the smallest rise in five years.” Apr 29,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 30, 2015 Author Share Posted April 30, 2015 EUR/USD supported by narrowing UST and bund yield spread – Growth Aces FXStreet (Barcelona) - With Eurozone bond yields rising on rising inflation, The Growth Aces Research Team, views that the narrowing yield spread between USD and EUR will support the single currency, hence remain bullish on EUR/USD, targeting 1.1307 levels. Key Quotes “The EUR/USD had rallied on Wednesday as the surprisingly soft US GDP data weighed on the USD. The Federal Reserve's post-meeting statement said the economic slowdown was probably transitory.” “The EUR/USD rally is continued today after Eurozone bonds yields rose on easing deflation fears. The Eurozone ended four months of deflation in April with consumer prices unchanged from year-ago levels. Core inflation, which excludes volatile energy and unprocessed food costs, was unchanged at 0.6% yoy.” “We expect inflation to rise gradually in the coming months. We will see stronger acceleration in CPI in the fourth quarter this year due to base effects.” “10-year bond yields for Italy and Spain are now 25-30 bps higher than when ECB’s quantitative easing programme started. Bond yields in France, Belgium, Netherlands, Austria and Finland are already at the same levels when the QE started (or even slightly higher). 10-year German Bund yields are getting closer to levels seen before the ECB started buying bonds.” “The spread between US Treasuries yields and German Bund yields has narrowed. This situation supports EUR/USD rises.” “A rise in bond yields may result from the lack of liquidity in government bonds now that the central bank has snapped up large portions of the stock of debt with its quantitative easing programme. However, bonds sell-off has a global character. U.S. Treasury yields also rose, with below-forecast economic growth data and no sign of an early rate hike from the Federal Reserve.” “We are looking to buy EUR/USD at 1.1040. If the order is filled the target will be above 100-dma, currently at 1.1307, but below strong resistance level of 1.1380 (high on February 26).” “Resistance: 1.1248 (high Feb 27), 1.1280 (76.4% of 1.1534-1.0457), 1.1307 (100-dma)” “Support: 1.1072 (session low Apr 30), 1.0960 (low Apr 29), 1.0924 (55-dma)” Apr 30,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Treasury yields rise on a sharp drop in the jobless claims FXStreet (Mumbai) - The yields on the short duration and long duration treasuries in the US rose after the labor department data showed the initial jobless claims in the last week fell to 15-year lows. The 10-year yield rose to an intraday high of 2.099%, while the 30-year yield rose to 2.793. Meanwhile, the 2-year yield, which mimics short-term interest rate expectations, rose to a high of 0.606%. The initial jobless claims dropped by 34K to 262K in the week ended April 25, the lowest since April 15, 2000. The actual figure was smaller than the consensus estimate of 290K. The sharp drop in the jobless claims supports the Fed’s view that the job gains are likely to continue despite the slowdown in the first quarter. Meanwhile, the disappointing personal income and a weaker-than-expected personal spending data for March was ignored by the treasuries mainly because both the numbers were included in the first quarter GDP report released on Wednesday, showed the economy growing at only a 0.2% annual pace after a 2.2% rate in the fourth quarter. Apr 30,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Gold drops sharply to USD 1185.8/Oz FXStreet (Mumbai) - Gold prices fell to a low of USD 1185.8/OZ from USD 1204/Oz levels after the sharp drop in the weekly jobless claims in the US triggered a wave of buying in the US dollar. Gold: Trades below 50-DMA The metal currently trades below its 50-DMA located at USD 1189.37/Oz levels. Gold, which is inversely related to the rate hike expectations, took a beating after the labor department data showed the initial jobless claims in the last week fell by 34K to 262K in the week ended April 25, the lowest since April 15, 2000. Following the upbeat data, the USD index was pushed higher to 95.44 from the pre-data level of 94.71. Consequently, the metal fell to trade 2.05% lower for the day. Meanwhile, the personal spending and income report was largely ignored since it was a part of the first quarter GDP released on Wednesday. Gold Technical Levels The immediate support is located at 1183.7 (Apr. 14 low), under which losses could be extended to 1175.00 (Apr. 24 low). On the flip side, a break above 1189.37 (50-DMA) could see the metal re-test its 10-DMA at 1194.27. Apr 30,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 30, 2015 Author Share Posted April 30, 2015 UK political uncertainty set to weigh on GBP – Rabobank FXStreet (Barcelona) - Strategists at Rabobank argue that this UK election has the capacity to create more uncertainty, and that this political risk is going to weigh on the Pound going forward. Key Quotes “The political uncertainties this year appear to be extremely high. There is risk that the UK may have to wait a relatively long period before a coalition government is formed. If/Once it is in place, there is fear that it may not be sufficiently coherent to last the full five years.” “That said, if the 2010 election is used as a precedent, it may be assumed that election jitters in sterling may be fairly muted in the coming weeks.” “We would argue, however, that this election has the capacity to create more uncertainty than the last. Firstly, opinion polls have not been universally showing that the ‘business friendly’ Tory party is in the lead. Secondly, that ‘business friendly’ tag is confusing since if the next coalition is led by the Tories, a referendum on EU membership is likely.” “The risk that the UK could leave the EU has the potential to worry international investors more than the general election itself. Given also the unknowns regarding the composition and coherence of the new government, on almost all outcomes the uncertainties for investors could rise post election. This could weigh on sterling going forward.” Apr 30,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! EUR/GBP likely to rise to 0.7350 – FXStreet FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, sees further gains possible for EUR/GBP towards 0.7350, with both fundamentals and technicals likely to support the bullish view. Key Quotes “The pair is likely to close today above its 50-DMA located at 0.7228. Sharp gains on Wednesday and today could trigger a technical correction tomorrow. However, the losses are likely to be restricted around 50-DMA at 0.7728.” “A break above 0.7274 could see renewed buying interest, thereby opening doors for 0.7319-0.7329.” “Further gains to 0.7350 are likely in case the pair manages to close above 0.7329.” Apr 30,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! EUR/JPY extends gains above 134.00 FXStreet (Córdoba) - EUR/JPY rallied another 100 pips and reached 134.34, level last seen back in early March. Euro up, Yen down The pair is climbing more than 1% on Thursday, extending the weekly rally to more than 500 pips. While the euro is the best performer in the currency market, the yen is falling across the baord as USD/JPY approaches 120.00 after trading bleow 119.00 just a few hours ago. EUR/JPY is about to post the highest close in almost two months as it continues to recover from 127.49 (Apr 14 low). From a technical perspective, the euro strengthened considerably yesterday after breaking a key resistance located around 131.50 - 131.70. Apr 30,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 1, 2015 Author Share Posted May 1, 2015 ECB could revise lower its inflation forecasts – Danske Bank FXStreet (Edinburgh) - In light of the recent inflation figures in the euro area, analysts at Danske Bank believes the ECB’s forecasts remain too optimistic, and could be revised lower in the June meeting. Key Quotes “Euro area HICP inflation increased to 0.0% y/y in April from -0.1% y/y in March”. “Core inflation was unchanged at 0.6% y/y, as service price inflation declined to a new historical low of 0.9% y/y in April from 1.0% y/y in March. The very low service price inflation reflects that there are still no signs of higher wage pressure despite progress in the labour market”. “The low core inflation increases the likelihood that the ECB will lower its core inflation forecast in June, when it will publish new projections. In March the ECB expected core inflation to average 0.8% in 2015 but with an average of 0.6% in the first four months and a continued downtrend in service price inflation, we expect it to lower its forecast. In 2016 the ECB expects core inflation to increase to an average of 1.3%, which we also believe is too high”. “A lower core inflation projection from the ECB is important, as it will continue its QE purchases until it sees a sustained adjustments in inflation and not just an increase that is driven by a rebound in energy price inflation”. May 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! GBP/USD near-term risk titled to the downside – Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, believes that the political uncertainty implies that risks for GBP/USD remain tilted to the downside in the near-term. Key Quotes “GBP was soft retracing recent strength and entering the NA session (and the UK long weekend) down 0.4%. Data was mixed, but the release of a disappointing manufacturing PMI (falling to 51.9) weighed heavily on GBP.” “We continue to cling to concerns over the upcoming election and see near‐term GBP risk heavily weighted to the downside.” May 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Tactically bearish on EM FX but the rally is gaining momentum – SG FXStreet (Barcelona) - The Team at Societe Generale, maintains a tactical bearish approach on EM FX, and further share their FX exposure in the same. Key Quotes “Until uncertainty over US monetary policy is eliminated the backdrop for GEM FX should remain challenging (For now, doom and gloom). Lack of appetite by speculative investors to position for medium term appreciation should continue to mitigate any EM rally.” “We continue to have a tactically bearish view which we express through long USD risk or relative value trades.” “Our positioning is concentrated in bearish EMEA exposure - long USD-TRY, USD-ZAR, and USD-ILS. – but also includes long USD-BRL and a directionally bullish dollar trade (owning USD-IDR 3x12 NDF spread) and a defensive relative value position (long INR-IDR 12m NDF).” May 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 1, 2015 Author Share Posted May 1, 2015 Greenback puts euro under threat in currency wars - Rabobank FXStreet (Guatemala) - Analysts at Rabobank noted that by the end of last year is was becoming evident that the ECB had become a winner in the currency war, taking the baton from the BoJ. "By wiping the markets into a frenzy of anticipation ahead of the introduction of the asset purchase plan, ECB President Draghi pushed the EUR into a path of rapid depreciation." "The plunge in EUR/USD was facilitated by the broadbased rise in the USD which was supported by widespread expectations that the Fed could be hiking interest rates by the middle of this year. On the back of a spate of soft US data releases, those expectations now lie in tatters and the USD’s downtrend is showing signs of reversing." "The dollar index has broken below its 100 day sma. For the first time since the downside trend in EUR/USD started last July it posted a monthly gain in April. EUR/USD1.1265/80 is a key resistance level (the 38.2% Fibonacci retracement from the December high and daily lows throughout February). " "While a sustained break above would be another constructive short-term signal for the USD we maintain that the sell-off in the greenback is likely to run out of steam." "The stronger USD has been a major catalyst in the war against low growth and weak inflationary pressures being waged in various part of the world. If the USD sell off persists, there is risk that several central banks will reassert their dovish positions in order to ensure that relative interest rate differentials remain clearly in favour of the greenback." May 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
Shafiek Abrahams Posted May 1, 2015 Share Posted May 1, 2015 It’s not long since I started trading with this company, but already I am so much addicted to the analysis service I find here daily, it’s incredible to see the accuracy especially given the fact that it’s provided on daily basis, so it’s a kind of stuff that’s not easy to do even with paid service. It has really made me respect OctaFX all so much more, I was never doubtful about their service and that’s the first reason I joined them, but having such accurate analysis and news updates for free is surely something I never expected, but now the point is that without this it’s not possible for me to survive even for a little while in this market. Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 4, 2015 Author Share Posted May 4, 2015 EUR back on the defensive – TDS FXStreet (Barcelona) - FX Strategists at TD Securities, note that EUR/USD remains on the defensive ahead of US NFP, and is poised to test 1.1120 in the short-term, breaking below which might slide towards 1.1050/00 levels. Key Quotes “This week will get off to a slow start, with the UK on holiday today. That will not be helpful for the EUR which really needs to see a bit more participation in the long side of the trade if it is to build on recent gains.” “The end of last week’s trading was inauspicious, with EURUSD stalling around 1.13, a major technical point on the longer-term charts (the first retracement resistance of the 1.40/1.04 decline) and the start to this week’s even less so, with EURUSD trading heavy and poised to test short-term trend support at 1.1120; below here and the EUR will slide back to retest the 1.1050/00 area. If the EUR can’t get above here, it has little chance of sustaining the recent bid.” “It remains to be seen whether investors want to extend positioning ahead of the US NFP data on Friday, where market consensus expectations currently points to a gain of 230k jobs and a 5.4% u/rate (TD 195k and 5.5%). Good data (even our below consensus call is respectable), in other words, which will go someway at least in dispelling concerns that sluggish US growth will prevent the Fed from raising rates later this year.” “Good data (and upward revisions to the March result) would be an unequivocal plus for the USD.” May 04,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! GBP/USD erases daily losses FXStreet (Córdoba) - The British pound managed to bounce from daily lows and erased intraday losses at the beginning of the American session to trade nearly flat on the day against the dollar. The greenback lost momentum and retreated across the board, helping GBP/USD to bounce from a low of 1.5089 to 1.5148. At time of writing, the pair is trading at 1.5140, virtually unchanged on the day. However, sterling investors might remain cautious ahead of Thursday’s UK general elections as polls continue to paint a hung parliament outcome. GBP/USD technical outlook “The technical picture continues to favor the downside, despite in the 1 hour chart, the RSI aims higher from oversold territory, as the price stands below its 20 SMA whilst the Momentum indicator heads lower 100”, commented Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart the 20 SMA turned sharply lower well above the current level, whilst the technical indicators are fading its latest upward corrective movement near oversold territory”. May 04,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Gold prints fresh daily high at USD 1191.8/Oz FXStreet (Mumbai) - Gold prices rose to a fresh daily high of USD 1191/Oz in the early US session as the USD index erase gains and fell into losses. Gold testing hourly 200-MA The metal is currently trading around its hourly 200-MA located at USD 1191.8/Oz. Prices received a boost from the drop in the USD index ahead of the factory orders data. The USD index fell from a high of 95.78 to trade at 95.38 levels. The metal may extend gains over and above its hourly 200-MA in case the USD index extends losses on a weaker-than-expected factory orders print. Gold Technical Levels The immediate resistance is seen at 1192.00, above which gains could be extended to 1200.00. On the other hand, a break below 1186.5 could push the metal back to 1180.1. May 04,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 5, 2015 Author Share Posted May 5, 2015 Chile IMACEC: 1.6% (March) vs previous 2% Read more in Forex News May 05,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 5, 2015 Author Share Posted May 5, 2015 DXY bounces off 95.20 FXStreet (Edinburgh) - After bottoming in the area of 95.20, the US Dollar Index is now looking to regain the 95.30/35 band. DXY weaker on US data The index is giving away part of recent gains following the results from the US trade balance, where the trade deficit increased to $51.37 billion during March vs. $41.2 billion expected and $35.89 billion previous. The US Services sector will take centre stage next, with Markits Services PMI and the ISM Non-manufacturing due. The dollar is trading in red after two consecutive session of gains, looking to recover part of the ground lost following last weeks deep pullback. DXY relevant levels The index is now retreating 0.12% at 95.36 and a break below 95.04 (low May 4) would aim for 94.50 (low May 1) and then 94.40 (low Apr.30). On the upside, the initial hurdle lines up at 95.62 (high May 4) ahead of 96.18 (high Apr.29) and finally 96.93 (high Apr.28). May 05,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 6, 2015 Author Share Posted May 6, 2015 Denmark intensified the FX intervention – Danske Bank FXStreet (Edinburgh) - Jens Pedersen, Senior Analyst at Danske Bank, reviewed the recent FX intervention figures by the Danmarks Nationalbank (DN). Key Quotes “DN has just published April’s balance sheet. It showed that the FX reserve declined DKK32.4bn to DKK705.4bn – DKK33.9bn of the decline was due to DN selling FX in intervention. EUR/DKK traded above the central rate of 7.46038 for most of April, which has triggered DN intervention to support DKK”. “DN’s intervention in the FX market in April indicates that the downward pressure on EUR/DKK has reversed and that DN is now reacting to cap EUR/DKK upside. Historically, FX intervention of this amount has triggered a unilateral rate hike from DN and, therefore, the market will keep a close eye on DN on Thursday for a possible rate announcement”. “However, the current circumstances are not normal. DN allowed accumulated inflow into the FX reserve of above DKK100bn following its recent cut of the key policy rate to minus 0.75%. DN may want to shrink the FX reserve by a similar amount before raising its policy rates”. May 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Outlook for FX majors – Littlefish FX FXStreet (Barcelona) - Analysts at Littlefish FX, give the outlook for FX majors, expecting a retest of 1.1350 levels in EUR/USD if the pair maintains above 1.1120/40. Key Quotes “EUR: While 1.1120/40 supports intraday expect retest and break of last weeks highs en-route to 1.1350” “GBP: While 1.5050 supports the advance expect a retest and break of 1.55 en route to 1.5560” “JPY: Rejected at the 120 descending trendline resistance offers a break and close above 120.50 opens April highs” “CAD: Bids at 120 continue to support on a closing basis, while this level survives anticipate a retest of 123/24 from below” “AUD: Offers at .8050 reject on the first attempt while .78 supports potential for another run at .8050” May 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! USD/CAD 6M forecast at 1.23 – Rabobank FXStreet (Barcelona) - Expecting Fed to hike rates in December, Jane Foley, Senior Currency Strategist at Rabobank, now forecasts USD/CAD at 1.23 in 6 months and 1.25 in 9 months. Key Quotes “The market has inferred that the BoC is not positioning itself to follow its January ‘insurance’ interest rate cuts. This conclusion has added further support to the CAD. Together with the recent broad-based sell off in the greenback, the value of USD/CAD has plunged over 6% from its mid-March high.” “Canadian trade data for March highlighted a widening in the deficit to a record C$3 bln led by a slump in energy exports. These data should hamper further upside potential for the CAD although the outlook will remain dominated by oil prices.” “On the basis that we expect the Fed to hike rates in December this year, we expect USD/CAD will push higher again in the months ahead. That said, we have pared back our 6 mth USD/CAD forecast to 1.23 and 1.25 in 9 mths.” May 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 7, 2015 Author Share Posted May 7, 2015 USD/CHF recovers from 3-month lows FXStreet (Córdoba) - USD/CHF bounced off 3-month lows and erased intraday losses as the dollar was lifted by better-than-expected US initial jobless claims. USD/CHF briefly dropped below 0.9100 and scored its lowest level since Jan 29 at 0.9070 before turning higher. The pair has risen more than 100 pips over the last hours and reached a fresh daily high of 0.9175. At time of writing, USD/CHF is trading at 0.9170, now 0.15% above its opening price. US initial jobless claims stay near 15-year low The number of people applying for US unemployment benefits rose by 3,000 to 265,000 in the week ending May 2, beating expectations of 280,000 and holding near a 15-year low. The previous week print, unrevised at 262,000, was the lowest since 2000. USD/CHF levels to watch In terms of technical levels, USD/CHF could find immediate support levels at 0.9070 (daily low), 0.9040 (Jan 29 low). On the other hand, resistances are seen at 0.9200 (psychological level), 0.9278 (May 6 high) and 0.9350 (May 1 high). May 07,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! SEB: USD/CAD sees a probable double-bottom - eFXnews FXStreet (Barcelona) - The eFXnews Team shares that SEB believes the markets have nailed a potential double-bottom for USD/CAD in the short-term picture. Key Quotes “Price/momentum divergence should be noted as the market has nailed a potential "Double-bottom" in the short-term picture. This may be enough to keep the still ascending 233day exponentially weighted moving average band (1.1825/1.1725) out of reach.” “But for confirmation of this setup, 1.2205 must be reclaimed. Follow-through to and beyond the 55day exponentially weighted moving average band (1.2250\1.2390) would also be good to see.” This content has been provided under specific arrangement with eFXnews. May 07,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! EUR/USD extends pullback to fresh daily lows FXStreet (Córdoba) - EUR/USD fell further at the beginning of the American session and made fresh daily lows as the greenback recovers ground, underpinned by upbeat US initial jobless claims data. EUR/USD has lost more than 150 pips during the last hours, after being rejected from a 10-week high of 1.1391. The pair had rallied over the past few sessions, mainly driven by dollar weakness amid disappointing economic data. Meanwhile, media reports suggesting a Greek deal is unlikely for Monday has also weighed on the shared currency. At time of writing, the pair is trading at 1.1265, 0.71% below its opening price, having scored a daily low of 1.1236 in recent dealings. May 07,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 7, 2015 Author Share Posted May 7, 2015 AUD/USD hits fresh lows, approaches 0.7900 FXStreet (Córdoba) - AUD/USD broke below 0.7930 and dropped to 0.7909 hitting a fresh daily lows as the US dollar strengthened across the board. The pair moved sideways during the European session between 0.7965 and 0.7930 before breaking to the downside. AUD/USD still up for the week despite rate cut and jobs data The aussie continues to trade above the levels it opened on Monday against greenback despite the rate cut by the Reserve Bank of Australia and also after today’s employment report. In Australia the unemployment rose to 6.2% in April from 6.1% while a net 2,900 jobs were lost in the economy; analyst were expecting a gain of 4,000. The recent slide to fresh lows was boosted by a stronger dollar in the market, following better than expected jobless claims data in the US. So far the area above 0.7900 capped the decline but the pair continues under bearish pressure in the short term. May 07,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! WTI testing lows sub-$60.00 FXStreet (Edinburgh) - The barrel of the American benchmark for the light crude oil is extending the drop from recent highs beyond $62.00/bbl on Thursday. WTI worried about Iran Market participants remain vigilant on headlines from the nuclear talks between Iran and six world’s powers. Prospects of an agreement by end of June could potentially see Iran’s sanctions lifted, allowing the Middle East oil-producer country to resume its production, exerting downside pressure on prices as a consequence. In the same tone, prices could be under pressure as US oil production could resume its upside following the recent drop in inventories after 17 consecutive weeks of gains. WTI relevant levels The barrel of WTI is losing 1.35% at $59.58 with the immediate support at $59.09 (low May 7) ahead of $58.63 (low May 5) and finally $58.37 (low Apr.30). On the other direction, a breakout of $61.31 (high May 7) would aim for $62.58 (2015 high May 6) and then $63.03 (high Dec.8). May 07,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Election guide - Labour party - BBH FXStreet (Guatemala) - Analysts at Brown Brothers Harriman offered an in depth insight to the UK election in a guide, start with the Labour: "The first exit polls for the UK election are expected to start coming out at 22:00 GMT today. We think that a clear picture of the voting outcome will emerge around 4:00-5:00 GMT on Friday. Here is a quick party by party guide and analysis." "Labour: Expected to get 267 seats from 258 currently. It would likely pick up 38 seats from the Conservatives and 9 from other parties, while losing 38 to the SNP. Most projections still give a minority Labour government the highest odds. For example, odds implied by Betfair suggest a 36.4% chance of a Labour minority government. This would require the support of the SNP, either explicitly in a coalition (contradicting campaign pledges) or implicitly (for example via a Labour-LibDem coalition with support of the SNP in vote of confidences). A Labour victory would probably be a mild negative for markets. Investors are already prepared for a hung parliament and know that Labour has a good chance of leading the new government. So it wouldn’t be a major surprise. Moreover, a more pro-growth approach could benefit prove to be positive in the medium-term and taking the EU referendum off the table kills one major tail risk for the pound." May 07,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 8, 2015 Author Share Posted May 8, 2015 OctaFX.com-One more reason to join OctaFX Demo Contests! Good news for all OctaFX traders - we have upgraded all Demo Contests to have cutting-edge features of Supercharge real contest! Already got the taste of meaningful competition? We bring that feature to all our demo contests! We are impatient to draw your attention to our newly redesigned contests - both OctaFX Champion and cTrader Weekly demo contests received new looks! However, looks are not the only thing that’s changed. From now on you can enjoy all the features of our innovative contest platform trading on demo accounts! Receive achievements, review other traders’ profiles and leave comments to interact with your fellow traders! Enjoy our improved Demo Contests: Feel free to join OctaFX Champion demo contest! Registration for cTrader Weekly! Best Demo Contest in the industry brought to you by your top-notch Forex broker! Stand out for outstanding with OctaFX! Please stay tuned for the news and updates from OctaFX! Wishing you luck and profitable trading, yours truly, OctaFX! Canada Participation rate below forecasts (65.9%) in April: Actual (65.8%) Read more in Forex News May 08,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! EUR/USD visiting highs on Payrolls FXStreet (Edinburgh) - The upside momentum is picking up pace around the euro on Friday, with EUR/USD now climbing to fresh daily highs. EUR/USD stronger following in line NFP The pair is reverting its initial downside after the US economy added 223K jobs during April, a tad below consensus at 225K albeit up from March’s 85K (revised from 126K). Further data showed the jobless rate ticked lower to 5.4%. EUR/USD levels to watch As of writing the pair is advancing 0.10% at 1.1277 and a breakout of 1.1300 (psychological level) would expose 1.1393 (high May 7). On the flip side, the immediate support aligns at 1.1182 (low May 8) followed by 1.1175 (low May 6) and finally 1.1100 (psychological level). May 08,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Link to comment Share on other sites More sharing options...
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