OctaFX_Farid

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  1. OctaFX.com-Happy weekend to all! *Demo accounts to test your trading strategy or your EA *Micro accounts to try our outstanding services for as little as 5 USD *ECN accounts for advanced and professional traders and investors *Interbank liquidity from the world's top providers *Market news and research, convenient economic calendar *True ECN execution without requotes *A wide range of deposit / *withdrawal options and much more. Trade with OctaFX - the Most Reliable 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!
  2. ECB comes in focus as the much anticipated meeting approaches - MUFG FXStreet (Delhi) – Derek Halpenny, Research Analyst at MUFG, suggests that we had been pretty convinced that the ECB would not take any action at the forthcoming meet but have to admit we are not as convinced after reading the comments made by ECB Governing Council member Nowotny in a speech in Warsaw yesterday where he was pretty pessimistic in regard to current economic conditions in Europe. Key Quotes “If the dollar does advance sooner rather than later, it may well be versus the euro given the monetary policy meeting is taking place next Thursday. In admitting that the ECB was “clearly” missing its inflation target he stated that additional “structural instruments” were required in order to get growth going in the euro-zone.” “There was a strong message to governments to do more in regard to structural reform but the reality in the euro-zone for some time has been that the onus has rested on the ECB to take action. While Nowotny and probably most ECB Council Members are frustrated with that, the ECB may soon feel obliged to take additional action.” “The comments from Nowotny appear more grim than his previous comments and that may well reflect the evidence of renewed economic weakness in Germany. The 5.2% plunge in exports and weak factory orders and industrial production highlight the vulnerability of Germany to external demand weakness. This of course is the country where perhaps fiscal stimulus should now be implemented but constitutionally Germany’s hands are tied – a fact that must surely be fuelling the disinflationary impetus in the euro-zone as a whole.” “Our view at this point is that the ECB will refrain from any action next week but will be a little more explicit in indicating that they are closer to additional easing with an eye on the December meeting.” “By then it will be clearer whether the FOMC will act or not in December and the ECB will have a much clearer view of broader financial market conditions and whether the “unwarranted tightening” of the monetary stance has persisted. But Nowotny has thrown a degree of greater uncertainty into next week’s meeting and hence the euro is unlikely to advance much ahead of that key event.” Oct 16,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! USD: Dudley sets conditionality on a 2015 Fed lift-off - MUFG FXStreet (Delhi) – Derek Halpenny, Research Analyst at MUFG, notes that the US Fed’s Dudley did repeat that a 2015 rate increase was his current view however his comments were certainly a bit more nuanced with his rate timing view conditional on his forecast being achieved. Key Quotes “Given the explicit comments from FOMC Governors Brainard and Tarullo for a delay in a rate increase to 2016, the markets were very focused on Vice Chair Dudley’s speech yesterday.” “He did then also say that the recent evidence points to the economy slowing. So really as usual, the FOMC is data dependent and hence the payrolls reports on 6th November and 4th December will be crucial as will consumer spending data for the month of October, released in November.” “Cleveland Fed President Mester also spoke yesterday and there was no surprise in her comments which have been consistent in calling for a rate increase to take place this year.” “Our sense though is that the dollar remains vulnerable to further weakness given the US economic data is likely to remain mixed for now. While we believe the Fed should be lifting rates anyway, the financial markets continue to price more willingly the prospect of a delay into 2016 and short-term yields suggest the dollar is prone to further weakness. With little in the way of top tier data now until the start of November, the dollar is unlikely to derive support from developments in the US.” Oct 16,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Majority of Fed’s voting members favour a 2015 lift-off - RAbobank FXStreet (Delhi) – Philip Marey, Senior US Strategist at Rabobank, suggests that if we look at the reactions of the voting members of the FOMC, there still seems to be a large majority that would like to hike before the end of the year. In the end, their case will depend on the data that we are going to see before the meeting on December 15 and 16, and that is still a lot, the analyst adds. Key Quotes “The US CPI data for September were better than expected by the market. Headline inflation slowed down to 0.0% in year-on-year terms, from 0.2% in August, but the consensus expectation of negative inflation (-0.1%) was averted.” “What’s more, core inflation – which excludes the volatile food and energy prices – unexpectedly rose to 1.9% from 1.8%. These data should bolster the Fed’s confidence that inflation will return to the 2% objective over the medium term.” “This was reinforced by the decline of US initial jobless claims to 255K after 262K a week before. This matches the 2015 low reached earlier in mid-July. Note that 255K is not only the lowest point of this year, but in fact the lowest since 1973. Despite the slowdown in the world economy, US businesses are keen to keep their personnel on board.” “Meanwhile, the first two US business surveys for October both indicated a deterioration, although at a milder pace than in September. However, the Empire manufacturing index (-11.4) and the Philly Fed index (-4.5) both fell short of consensus expectations.” “New York Fed President William Dudley, a permanent voter on the FOMC, acknowledged that the economy is slowing. Nevertheless, he still favors raising rates later this year if his forecasts are met.” Oct 16,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!
  3. GBP/USD: offered again at 100-DMA FXStreet (Mumbai) - Another attempt to take out 100-DMA in early Europe ran into offers again, pushing the GBP/USD pair back to 1.5470 levels. Weekly gain on cards Sterling is on track to score its second weekly gain on the back of an upbeat UK wage data and dismal US data. The spot had hit a low of 1.52 earlier this week, following which a spike in the buying interest pushed the pair to a weekly high of 1.5509 levels. Moreover, the USD was smoked right from the start of the week. Consequently, profit taking ahead of the weekend may keep the cable under pressure today. The US industrial production and consumer confidence figure may do little to change the direction in the pair. GBP/USD Technical Levels The immediate resistance is seen at 1.5486 (100-DMA), above which the pair could target 1.5509 (previous day’s high). A break above the same would expose 1.5568 (38.2% of Jul 14-Apr 15 plunge). On the lower side, a failure to take out 100-DMA could push the spot back to 1.5404 (50-DMA). Oct 16,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! USD/JPY well supported around 118.60 – OCBC FXStreet (Edinburgh) - According to Emmanuel Ng, FX Strategist at OCBC Bank, the area around 118.60 could provide decent support in the pair for the time being. Key Quotes “A mixed to heavy undertone for USD-JPY may persist with near term support seen at around 118.60 although JPY underperformance on the crosses may invite bottom picking in the pair”. “At this juncture, 120.00 may prove to be a hard-top barring headline risks”. Oct 16,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! USD/CHF risks a pullback to 0.9358/0.9260 – Commerzbank FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pairs could re-visit the area of 0.9358/0.9260 in the near term. Key Quotes “USD/CHF’s still oscillates around the 200 day ma at .9518 and near term risk remains for losses to the .9358/.9260 five month support line and recent low, from where we would expect to see signs of recovery”. “Rallies will find initial resistance at the .9646 13 October high”. Oct 16,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!
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  5. USD selling, across the board as bulls run for cover - Investec FXStreet (Delhi) – Research Team at Investec, note that after the US Retail Sales came in softer than expected, US Dollar selling was witnessed across the board as investors were likely concerned that if consumer spending remains muted, it will be difficult for inflation to recover in the US with a backdrop of subdued energy prices. Key Quotes “Given recent gains in US jobs and the strength of the housing market, the spending background should be more buoyant. The US Dollar weakened across the board after the release and in the Fixed Income markets, Bonds are now only pricing in a 32% chance for a 2015 Fed rate hike, with a first hike not fully priced in until July 2016. The theme continued overnight where the US Dollar continued to soften both across developed and emerging markets." Oct 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Abenomics first two arrows are a success – Japan’s Suga FXStreet (Mumbai) - Japanese government’s Chief cabinet secretary Suga, while speaking to Bloomberg, hailed the first two arrows – fiscal stimulus, monetary easing - of Abenomics as a success. Suga added that the third arrow – structural reforms – will take more time over mid-long term. Trans-Pacific Partnership (TPP) is the most important part of third Arrow, said Suga, while stating further that TPP agreement means Japan economy can take a leap forward. Oct 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! China said to consider yuan-Swiss franc direct trading link - Bloomberg FXStreet (Mumbai) - As reported by Bloomberg, the People’s Bank of China (PBOC) is planning to start direct trading between the yuan and the Swiss franc. Thus, the Swiss franc would become the seventh major currency to be exchangeable directly for yuan in Shanghai, joining the US, Australian and New Zealand dollars, the British pound, the Japanese yen and the euro. China is accelerating efforts to bolster global yuan usage before an International Monetary Fund (IMF) review of its reserve- currency basket next month. Earlier this year, the PBOC extended Switzerland a 50 billion yuan ($7.9 billion) quota under the Renminbi Qualified Foreign Institutional Investor program, which allows yuan raised offshore to be used to buy securities in China’s domestic markets. Oct 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!
  6. US CPI preview: We are going negative – Deutsche Bank FXStreet (Delhi) – Jim Reid, Research Analyst at Deutsche Bank, suggests that all eyes will be on the US this afternoon, with the September CPI print the highlight. Key Quotes “Consensus estimates are for a soft headline reading (-0.2% mom) which will be enough to drag the YoY back into deflationary territory at -0.1%. Estimates for the core are running at +0.1% mom, with the YoY rate unchanged at +1.8%.” “Away from this, we’ll also get initial jobless claims, October empire manufacturing, average weekly earnings, the Philly Fed business outlook print and the September monthly budget statement later tonight.” “Fedspeak wise we are due to hear from Bullard and Dudley, both due to speak at 3.30pm BST, followed by Mester later tonight (due 9.30pm BST). On the earnings front, Goldman Sachs and Citigroup are the banks due to report in the early afternoon, while Schlumberger (after the close) will be worth keeping an eye on as an early indicator into the energy sector.” Oct 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! AUD rebound approaching end as RBA rate cut expectations reincarnated - BNP FXStreet (Delhi) – Research Team at BNP Paribas, note that the Australia’s employment data disappointed market expectations with a contraction of 5.1k during September (consensus: +9.6k) which is likely to make AUD vulnerable as RBA rate cut expectations continue to build (a rate cut for Feb ’16 is now fully priced). Key Quotes “The impact on the AUD has been negative but relatively muted due to the current market environment – one of lower US yields and broad USD weakness – being supportive for the commodity currencies.” “Furthermore, the volatility of Australia’s employment data limits the scope for this surprise to be a game changer for the AUD. To put the 14.7k miss into context, the standard deviation of surprises of this data over the past five years is 25k and the standard deviation of the revisions is 21k.” “The risk-on environment in recent weeks has caused AUDUSD to have moved back towards its STEER™ after appearing oversold. From here this means that any rebound in US yields and the USD is likely to weigh negatively on AUDUSD.” Oct 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! EUR/USD drops as European stocks rally FXStreet (Mumbai) - The bid tone on EUR weakened, making way for a correction in the EUR/USD pair after the European stocks cheered the drop in the Fed rate hike bets. Offered near 1.15 The spot ran into offers near 1.1495 as the European stocks rallied, with the pan-European blue chip Euro Stoxx 50 index rising 1%. The drop to a session low of 1.1430 also marked a failure to sustain above 1.1475 (161.8% expansion of March low-March high-April low). Later in the day, the US CPI could alter Fed rate hike bets and sentiment in the stock markets and accordingly influence the EUR/USD pair. EUR/USD Technical Levels The immediate support is seen at 1.14, under which the spot could target 5-DMA at 1.1369.a break below the same could see the pair test 10-DMA at 1.1316. On the other side, a break above 1.1475 (161.8% expansion of March low-March high-April low), could see the pair test offers at 1.15 levels. Oct 15,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!
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  8. GBP/JPY at fresh session highs after UK data FXStreet (Mumbai) - The GBP/JPY pair dropped to 182.74, before rushing back to a fresh session high of 183.55 levels after the UK data showed a drop in the unemployment rate but a slowdown in the wage growth. Sterling in demand The drop in the UK unemployment rate to its lowest level since 2008 has triggered a broad based rally in sterling. The markets so far have ignored the slight slowdown in the UK wage growth and the uptick in the jobless claims. The pair took out the hourly 100-MA and 50-MA, but is having a tough time extend gains further as the Japanese Yen finds buyers amid the losses in the European equities. GBP/JPY Technical Levels The immediate resistance is seen at 183.73 (hourly 100-MA), followed by a hurdle at 183.86 (23.6% of 180.66-184.85) and 184.00 levels. On the lower side, support is seen at 183.34 (hourly 50-MA), 183.25 (hourly 200-MA & 38.2% of 180.66-184.85), under which the pair could re-test 183.00 handle. Oct 14,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! USD/CHF rallies could struggle around 0.9660/90 – Commerzbank FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees bullish attempts to struggle around the 0.9660/90 area. Key Quotes “USD/CHF came under pressure on Friday and looks set to extend losses to the .9527/25 200 day ma and recent low”. “The September low at .9527 guards the .9353/.9260 five month support line and recent low. Intraday rallies are indicated to be likely to struggle .9660/90”. “Key resistance is the 2001-2015 downtrend lies at .9855 – we look for this to eventually to be eroded but not yet”. Oct 14,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Euro showing remarkable resilience – Rabobank FXStreet (Delhi) – Elwin de Groot, Senior Eurozone Strategist at Rabobank, notes that the Eurodollar briefly pushed through the 1.14 level, which is at the upper end of its trading range since May, when volatility in financial markets took off. Key Quotes “Despite ongoing speculation that the ECB may have to do more, reflected in 10y Bunds trading below 60bps again, the euro has been showing remarkable resilience. Of all markets, European money markets seem to be the most consistent these days, with Eonia and Euribor forwards trading close to record-lows.” “What’s more, overnight ECB lending to Eurozone banks fell to zero from Tuesday on Wednesday, for the first time since January 6. Interbank overnight lending also declined to near-YTD lows (EUR 11.6bn yesterday), which is largely a mirror image of the huge amount of excess liquidity (EUR 535bn) sloshing around.” Oct 14,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!
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  10. Gold at fresh session lows, down 1% FXStreet (Mumbai) - Gold prices extended losses to print a session low of USD 1152.60/Oz levels despite losses in the European equities and weak China data released earlier today. Technical sell-off underway? The drop appears to have been triggered by a failure to rise above strong offers at 1169 (Aug high) on Monday. The fundamental continue to remain in favour of the metal, since the weak China data triggered a wave of selling in the European stock markets. Ahead in the day, the yellow metal may find some support from the possible weakness in the US stocks. Fed’s Evans comments could also influence the yellow metal. Gold Technical Levels The immediate support is seen at 1147.10 (July 8 low), under which the metal could extend the drop to its 50-DMA at 1141.26. On the other side, a break above 1159.22 (hourly 50-MA) could see the metal re-test the previous session’s high of 1169. Oct 13,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! GBP/USD in fresh lows near 1.5220 FXStreet (Edinburgh) - The demand for the sterling remains subdued on Tuesday, now dragging GBP/USD to test lows in sub-1.5230 levels. GBP/USD capped by 1.5400 The pair’s initial upside has found strong resistance in the vicinity of 1.5400 the figure today, sparking the ongoing deep correction to the 1.5220 area. The better tone in GBP has found initial support in the UK’s M&A sector, later reverted by disappointing inflation figures in the UK economy during September. Comments by MPC member G.Vlieghe stating that the exchange rate remains ‘unreasonably strong’ have weighed on spot, while I.McCafferty emphasized that current domestic disinflationary pressures would be transitory. GBP/USD important levels As of writing the pair is retreating 0.74% at 1.5234 and a breakdown of 1.5128 (up trend from ytd low) would expose 1.5107 (low Oct.1) and then 1.5089 (low May 5). On the other hand, the immediate hurdle lines up at 1.5411 (55-day sma) ahead of 1.5443 (Fibo 38.2% of 1.5658-1.5107) and then 1.5500 (100-day sma/psychological level). Oct 13,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! US Dollar trims loses, 95.00 on sight? FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, continues to extend its recovery from session troughs in the 94.50 region, currently testing the vicinity of 94.80. US Dollar still suffers the dovish FOMC The renewed offered tone around the dollar has gained further traction as of late, mainly in response to the recent FOMC minutes. At the same time, market expectations of a potential Fed’s lift-off by year-end keep losing ground in favour of a rate hike in January or March 2016, adding further downside pressure to the greenback. In the data space, NFIB’s Business Optimism index came in above estimates at 96.1 during September, ticking higher from August’s 95.9. In addition, Fed’s Bullard has argued that the ‘lift-off is appropriate despite challenges’. US Dollar significant levels As of writing the US Dollar Index is losing 0.07% at 94.82 facing the next support at 94.06 (low Sep.24) followed by 92.59 (low post-PBoC move Aug.24) and finally 90.00 (psychological level). On the upside, a break above 95.46 (Fibo 50% of 98.40-92.52) would open the door to 96.05 (200-day sma) and then 96.34 (downtrend from August tops). Oct 13,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!
  11. OctaFX.com - Octa Markets Incorporated! Octa Markets Incorporated is a forex broker recognized worldwide. OctaFX provides Forex brokerage services to its clients in over 100 countries around the world. OctaFX uses the most up-to-date technology and knowledge to make your forex trading experience incredibly convenient. Our top goal is the trust and satisfaction of each client's needs and requirements. OctaFX sets the highest service level standards and maintains them, as well as constantly developing new services and promotions. Octa Markets Incorporated was registered in 2011 in Saint Vincent and the Grenadines under license number 19776 IBC 2011. The Company's legal and correspondence address is Cedar Hill Crest, P.O. Box 1825, Villa, St. Vincent and the Grenadines. OctaFX acts in full compliance with international legislation and regulation standards. We strongly believe that honesty is the best policy. You can review Customer Documents as well as AML policy and other important legal documents in the Legal Agreements section at www.octafx.com. OctaFX has developed a variety of options to make your forex trading even more convenient. We offer live ECN accounts as well as micro accounts. The lowest spreads, real-time market execution and true ECN offset are among the top advantages of OctaFX. OctaFX is indeed a client-oriented company. This said, we are working hard to further improve our services. Stability, perfection and close attention to detail is what makes OctaFX different from our competitors. Our highly educated and well-trained Customer Care Department works 24/5 to answer your inquiries and help you. We are always open to suggestions and feedback. Be the Champion with OctaFX! Stand out for outstanding with OctaFX! Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today! Please stay tuned for the news and updates from OctaFX! Wishing you luck and profitable trading, yours truly, OctaFX!
  12. EUR/USD clings to gains near 1.1370 FXStreet (Edinburgh) - The buying interest is not giving up on the single currency on Monday, with EUR/USD clinging to its daily gains vs. the dollar around the 1.1370 area. EUR/USD supported around 1.1360 The upside momentum in the pair seems to have run out of legs in the 1.1400 neighbourhood in early trade, prompting sellers to step in and briefly drag spot to the 1.1360/55 region, or session lows. Thin trade and low volatility remain in centre stage today in response to the inactivity in the US markets, with USD paying little attention to the speech by Fed’s D.Lockhart, who still advocates for a rate hike later in the year. Next on tap in Euroland will be the German ZEW Survey and September’s CPI figures, all due tomorrow. EUR/USD levels to watch As of writing the pair is advancing 0.13% at 1.1373 and a breakout of 1.1460 (monthly high Sep.18) would target 1.1541 (downtrend from mid-December) and then 1.1714 (high post-PBoC move Aug.24). On the flip side, the immediate support lines up at 1.1239 (55-d sma) followed by 1.1175 (2-month up trend) and then 1.1107 (monthly low Sep.23). Oct 12,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Bank of Indonesia expected to remain ‘on hold’ – BBH FXStreet (Edinburgh) - Analysts at BBH sees the Bank of Indonesia leaving the benchmark rate unchanged at 7.5% at its meeting this week. Key Quotes “Bank Indonesia meets Thursday and is expected to keep rates steady at 7.5%”. “Inflation eased to 6.8% y/y in September, but is running above the 3-5% target range”. “Indonesia reports September trade then too, with exports seen at -15.3% y/y and imports seen at -20.5% y/y”. “The economy remains sluggish, but high inflation and the weak rupiah has kept BI on hold. If inflation continues to fall and the rupiah firms, BI may try to sneak in a rate cut”. Oct 12,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! EUR/USD stuck in a 20-pip range FXStreet (Mumbai) - The EUR/USD has been restricted in a narrow range of 1.1360-1.1380 in the last couple of hours as the trading interest remains low on account of a holiday in the US. Awaits China data The investors now await the Chinese trade balance data for September due for release tomorrow. A sharp drop in the exports and imports could heighten concerns regarding the slowdown in the global economy as well the world’s second largest economy. The data could significantly affect the overall risk sentiment in the markets and affect the EUR/USD pair. The Chinese data would be followed by a final German CPI reading. As for today, the pair is likely to continue trading lacklustre. EUR/USD Technical Levels The immediate resistance is seen at 1.14, above which the spot could target 1.1460 (Sep 18 high). If taken out on a closing basis, the pair could test 1.1621 (Aug 25 high). On the lower side, a break below 1.1353 (daily low) could push the pair back to 1.13 levels. Oct 12,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!
  13. Fed accepts that US potential growth has slowed – BBH FXStreet (Delhi) – Research Team at BBH, note that the US Fed has accepted the fact that the US potential growth has slowed which can be seen in the Fed's observation that the US economy had been growing above trend. Key Quotes “This is what it means when NY Fed President said before the weekend that nonfarm payroll growth of 120-150k is likely sufficient to continue to push the unemployment rate down.” “The Fed's staff estimate suggests trend growth in the US is about 1.75% through the end of the decade. It means that those warning that the US economy has not achieved that famed "escape velocity" are using a metric that may no longer apply. The strong growth was, in part, made possible by the baby boom generation. Population growth has slowed, and in an increasing number of high and medium income countries, falling.” “Dudley also acknowledged that an inventory overhang will weigh on growth here in the second half of the year. That instructs us to watch final demand (GDP inventories) and consumption. Consumption is around two-thirds of the economy, and provided consumption remains robust, we should not rule out a December hike.” Oct 12,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! NZD: RBNZ to sit tight this month- Westpac FXStreet (Delhi) – Imre Speizer, Senior Markets Strategist at Westpac, suggests that the positive run of data recently, combined with rising global dairy prices, leaves us comfortable with our call that the RBNZ will leave the OCR on hold in October (currently, markets are pricing roughly a 25% chance of a cut, and roughly half of economists are calling a cut). Key Quotes “It was always going to take some form of data shock to force the RBNZ to cut in October. So far, no such shock has been forthcoming. Indeed, we have seen dairy prices rebound 63% since August, and migration and house prices remain strong.” “Confidence in the economic outlook is low, but businesses’ own outlooks is flat. The final opportunity will come on Friday this week, when the September quarter CPI is released. We are bracing for yet another weak number, but that will be mainly due to one-off changes in government charges.” “Our annual inflation forecast of 0.2% is in line with the RBNZ’s forecast, and would not be enough to tip the balance in favour of an October OCR cut. The NZ dollar is up sharply to almost 67c against the US dollar, although the rise on a trade weighted basis has been less marked. This will certainly weigh on the RBNZ’s mind. But our judgement is that even the higher exchange rate is not enough to outweigh the shock rise in dairy prices.” Oct 12,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! WTI Oil offered at 50% retracement, now trades in the red FXStreet (Mumbai) - The West Texas Intermediate (WTI) December futures ran into offers closer to USD 50.165 (50% R of May to Aug plunge) to trade with moderate losses in the NY session. Hovers above key support At USD 49.40, prices are just a few cents above a strong support on the daily chart located at USD 49.32. Prices had received a minor boost after the OPEC, via its monthly report, revised its 2015 global demand forecast lower and 2016 forecast higher. However, prices failed to take out key Fib resistance mentioned above at USD 50.165. Meanwhile, losses are being capped by the moderate weakness in the USD index. WTI Oil Technical Levels The immediate support is seen at 49.32 (Aug 31 high), under which the prices could drop to 47.78 (Sep 17 high). On the other side, resistance is seen at 50.165 (50% of May to Aug plunge) and 50.93 (previous day’s high). Oct 12,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!
  14. EUR/USD SMA cross argues move higher The recapture of previous swing highs has resulted in a cross of the EUR/USD 50-period above the 200 SMA. The signal emerged on 4-hour charts further bolstering the near-term EUR/USD price structure. While breakout traders will wait for a close above recent tops to negotiate a new bull move, less conservative participants will expect a re-test of the crossing level to prove benevolent for continued upside. Oct 12,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! European stocks trade in the red, DAX bucks the trend FXStreet (Mumbai) - The European stocks wiped out opening gains and turned negative, bringing an end to the recent streak of gains, and completely shrugged-off the strong performance seen on the Chinese bourses. The macro calendar offers no data-flow, and the session ahead is expected to remain calmer as the US markets are closed on account of a public holiday. European stocks slide on profit-taking? The German index, the DAX, appears to ditch its other European counterparts and defends mild gains, largely supported by utilities companies. RWE and E.ON rallied 10.30% and 7.60%, respectively after positive corporate news. Unlike the German benchmark, the UK’s FTSE keeps losses in sync with the mining-giant Glencore after the company announced on that it is planning to sell two of its copper mines in Australia and Chile. Meanwhile, Germany’s DAX trades 0.27% higher to 10,124 points, while the UK’s FTSE loses 0.38% to 6,393. Among the other indices, the French CAC 40 index drops -0.37% to 4,684, while the pan-European Euro Stoxx 50 index trades -0.20% to 3,243 points. Oct 12,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! JPY: Easing not in sight at least for now - Rabobank FXStreet (Delhi) – Jane Foley, Research Analyst at Rabobank, notes that the BoJ Governor Kuroda does not sound like a man desperate to ease policy further and at the sidelines of the weekend’s IMF meetings, Kuroda commented that “if necessary, we can further ease our monetary policy but at this moment the inflation dynamics is as we anticipated. So, at this stage we just continue QE, but if necessary we can adjust”. Key Quotes “The door for further easing has clearly been left open, but there is a tangible reluctance to act despite clear market pressure to do so.” “Recent economic data releases have shown weakness in production, trade, retail sales, vehicle sales, machine orders and inflation data. At the October 30policy meeting, the BoJ is expected to revise lower forecasts for both activity and inflation and many market participants expect the Bank to sooth these announcements with an increase in QE.” “An increase in the asset purchase programme, however, may not be straightforward. The minutes of the August BoJ policy meeting state that “one member said that the additional effects of QQE had been diminishing and such effects from even the initial scale of QQE had already been exceeded by the side effects.” “Even amongst those who believe that the BoJ has no choice but to extend QQE, there are fears that the size of the programme has become so unwieldy as to necessitate some change in tack.” “Also arguing in favour of steady policy on Oct 30 is the BoJ observation that the “real effective exchange rate of the yen has depreciated to the level last recorded in 1973”. Why we expect that the BoJ will have to ease further this cycle, there is clear risk that October may bring a disappointment for JPY bears.” Oct 12,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!
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