OctaFX_Farid Posted December 12, 2014 Author Report Share Posted December 12, 2014 Dollar consolidates as Oil slide continues – BBH FXStreet (Barcelona) - The Brown Brothers Harriman Team, notes that the decline in oil prices has not only proven to be a setback for the dollar, but spurred losses in equities and pushed down bond yields as well. Key Quotes “Markets are reacting to the cuts in demand forecasts by OPEC and IEA. Oil prices have fallen about 10% this week. Brent finished last week near $69.10 and now is quoted around $63.25. WTI finished last week just below $66 and now is just above $59. This was driven by slowing of the Chinese economy coupled with increased output in the US (which reached a new high of 9.12 mln barrels a day in the week of December 5), and larger OPEC discounts.” “This precipitous decline in oil prices hits the global economy as deflationary forces still threaten large parts of the world economy. It has knocked down US 10-year yields. After the constructive employment report, US 10-year yields finished last week near 2.30%. Today they touched 2.11%. And this despite continued robust data (see yesterday's 0.7% rise in headline retail sales) and speculation that next week's FOMC statement will delete or dilute the reference to "considerable period" as the next step towards preparing investors for a rate hike next year.” “The decline in oil prices not only pushed down bond yields, but spurred sharp losses in the equity markets and a setback in the US dollar. The yen is the strongest currency this week, recovering a little more than 2.5%. The New Zealand dollar is in second place, helped by a less dovish central bank. The euro is about 1.2% higher on the week after recording new cyclical lows on Monday. Sterling rose about 0.75% this week.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 12, 2014 OctaFX.Com News Updates GBP/USD erases intraday losses FXStreet (Córdoba) - GBP/USD shrugged off disappointing UK construction data and managed to erase intraday losses to trade nearly flat into the North American opening. GBP/USD bottomed out at 1.5693 following much worse than expected UK construction output data (-2.2% vs +0.8%) but it climbed back toward 1.5720 to trade effectively unchanged on the day. Datawise, the US data includes producer prices data and the Reuters/Michigan Consumer sentiment index but non first-tier data, so investors will probably refrain from taking big positions ahead of the weekend. GBP/USD technical levels As for technical levels, immediate resistances are seen at 1.5735 (daily high) and 1.5755 (Dec 11 high) while supports could be found at 1.5693 (daily low) and 1.5677 (10-day SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 12, 2014 OctaFX.Com News Updates USD/CAD may test 1.1690 level in the near‐term – Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, anticipates USD/CAD to test 1.1690 in the near term, supported by near and medium term technicals which warn of an ongoing upside pressure. Key Quotes “CAD has reached fresh 5.5 year lows, having lost a further 0.5% in the Asian and European sessions. The drop has been on the back of a further fall in oil prices, yesterday’s steady tone from Governor Poloz, and bearish CAD technicals; ignoring the better than expected data from China. The only domestic data released today is Teranet housing prices; leaving CAD trading off of oil and broader developments.” “Near and medium term technical studies warn of ongoing upside pressure. The upward trend is strong and with the RSI at just 67, there is still significant upside room before reaching overbought levels. We are biased to be long USDCAD. For short‐term traders we would look for a near term test of 1.1690 and would place a stop at 1.1495.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 12, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 12, 2014 Author Report Share Posted December 12, 2014 United States Producer Price Index ex Food & Energy (YoY) in line with expectations (1.8%) in November Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 12, 2014 OctaFX.Com News Updates AUD/USD consolidates below 0.8300 FXStreet (Córdoba) - AUD/USD entered a consolidation phase after the latest upside attempt faltered just ahead of 0.8300 as investors remain mostly sidelined ahead of the weekend with the latest string of US data having no impact on the greenback. AUD/USD touched a fresh 4 ½-year low of 0.8216 Thursday after RBA Governor Stevens said he now saw a fair value for the currency around 0.7500. However, market decided to ignore Stevens and AUD/USD managed to recover some ground and reached a daily high of 0.8298 before finding resistance. Having spent most of the day in a narrow range, AUD/USD is currently trading at 0.8265, virtually unchanged on the day. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 12, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 12, 2014 Author Report Share Posted December 12, 2014 GBP/USD remains in bearish territory FXStreet (Guatemala) - GBP/USD is trading at 1.5735, up 0.11% on the day, having posted a daily high at 1.5747 and low at 1.5695. GBP/USD is up on the greenbacks weakness, lower US yields and sharp losses in equities all due to oil losses. The major has risen again and away from the supporting area of low 1.57’s, breaking up through the 1.5740 resistances and five-month downtrend. Above here, key resistance remains at 1.6184, which is the October high as noted by Karen Jones, chief analyst at Commerzbank who explained while below here the market remains bearish. Next week is packed on the calendar and markets will be turning towards, UK CPI, UK MPC Minutes, UK Unemployment, US CPI, US FOMC and UK Retail Sales. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 12, 2014 OctaFX.Com News Updates GBP/USD technicals are mixed ahead of key week - Scotiabank FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted the recent developments of GBP/USD while we await for next week’s key data releases from US and UK. Key Quotes: "GBP had a quiet Asian and European session, trading in a relatively narrow 40‐point range. Data today was limited, but disappointing with construction output falling –2.2%m/m and up just 0.7%y/y; however there was a large upside revision to the September print." "GBP/USD short‐term technicals: mixed—The chart pattern suggest a temporary period of rest. Support lies within the recent range of 1.5652 to 1.5757." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 12, 2014 OctaFX.Com News Updates EUR/JPY fails to hold above 148.00 FXStreet (Córdoba) - EUR/JPY jumped after the beginning of the American session as the yen weakened across the board and climbed to 148.16 reaching the strongest level since Wednesday. But the pair failed to hold above 148.00 as the USD/JPY retreated from 119.10 to 118.65 while EUR/USD remained steady above 1.2450, near daily highs. EUR/JPY unable to erase losses Despite rising for the second day in a row on Friday the euro is headed toward a weekly decline versus the yen ahead of Japanese elections as currently trades at 147.80. The pair is about to post the first weekly loss after rising consecutively during the previous eight weeks. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 12, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 15, 2014 Author Report Share Posted December 15, 2014 Policy divergence to be the clear theme for USD strength in 2015 – BAML FXStreet (Barcelona) - The Research Team at Bank of America-Merrill Lynch, note that Fed acknowledging inflation concerns due to declining oil prices may temper their USD-positive base case in the near term, but see policy divergence to remain the key catalyst for a strong USD in 2015. Key Quotes “Our base case has the Fed largely looking past the big drop in oil prices and breakevens, expecting inflation to rise toward target next year. New York Fed President Bill Dudley articulated that view last week. That said, a few other Fed officials have sounded more concerned about low inflation recently, and the low inflation risks continue to grow, particularly abroad. Thus, a lower-probability but dovish risk to our base case would arise if the FOMC were to acknowledge risks from persistently low inflation, or if Yellen mentions it in her press conference.” “Right now, the decline in TIPS breakevens may be, in part, a consequence of the Fed not giving them much attention. In our base case, breakevens can decline further and put downward pressure on the long end, with the 5s-30s curve flattening further and perhaps 10y yields declining outright. However, if this meeting were to suggest greater policy emphasis on low inflation going forward, that would support the 2y-5y part of the curve and likely push out of the market implied timing of the first rate hike, resulting in a steeper curve.” “In FX markets, elevated concern about low inflation could temper the USDpositive signals of our base case in the near term. But, despite the risks at this particular meeting, policy divergence is a clear market theme and the pieces remain in place for a strong USD in 2015.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 15, 2014 OctaFX.Com News Updates Ongoing fall in oil is starting to affect risk assets – RBS FXStreet (Barcelona) - John Briggs of RBS notes that the ongoing fall in oil is clearly affecting the risk assets with high yield debt markets suffering since October, and currencies – Yen and Swiss Franc gaining on equity and energy market declines. Key Quotes “Last week, particularly the trading sessions at the end of the week, were very interesting in that the oil price decline shifted from being a "good for growth and thus longer term inflation" versus "bad for inflation and tricky for the Fed" debate to a simple risk-off catalyst. At RBS we have had an ongoing belief that markets will not be able to transition from years of US quantitative easing to a rate hike cycle without any sort of hiccup. A 40% decline in crude oil over 3 months, however, was admittedly not at the top of the list.” “The ongoing fall is clearly starting to affect risk assets and all that goes along with them. High yield debt markets have been suffering since October, but one can tell how sentiment is shifting to broader markets such as global equities and currencies. On Friday, even FX had a tone of classic risk-off, with the yen and Swiss franc strengthening (a bit) on equity market and energy market declines. The overnight action this morning is no different – an oil rally causing US stocks to bounce and rates to retreat.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 15, 2014 OctaFX.Com News Updates EUR trading soft within Friday’s range – Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, notes that EUR is soft in the open as market rumours swirl on QE, trading weak within Friday’s range. Key Quotes “EUR has trended lower throughout the Asian and European sessions, but is still trading within Friday’s range. The ECB announced that €40bn in 3yr LTROs will be repaid, which warns that the overall take‐up of ECB TLTROs is relatively low and increases the risk of QE. This week’s EU Summit (December 18/19) is unlikely to create a notable EUR reaction; with the focus on the U.S. Fed meeting and the release of CPI. We expect EUR to trend lower overtime and hold a y ear‐end 2015 forecast of 1.18.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 15, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 16, 2014 Author Report Share Posted December 16, 2014 EUR/USD hits fresh highs above 1.2500 FXStreet (Córdoba) - EUR/USD finally broke above the 1.25 mark to hit its highest level in nearly 3 weeks, supported by better-than-expected European PMIs and pushed even higher following upbeat ZEW German survey and trade data. After 3 days of infructuous attempts, EUR/USD gathered enough momentum to pierce the 1.2500 resistance area and stretched to a high of 1.2527, last seen Nov 26, extending its recovery from this year low of 1.2246. At time of writing, EUR/USD is trading at 1.2520, recording a 0.64% gain on Tuesday. EUR/USD levels to watch As for technical levels, EUR/USD could find immediate resistances at 1.2530/35 (Nov 26 high/50-day SMA) and 1.2575 (Nov 20 high). On the flip side, supports are now seen at 1.2414 (Dec 15 low), 1.2400 (psychological level) and 1.2370 (Dec 11 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 16, 2014 OctaFX.Com News Updates German Economic Sentiment rises to highest since May 2014 FXStreet (Mumbai) - The Zew indicator of Economic sentiment for Germany rose to 34.9 in December, highest since May 2014. The indicator has moved well above its long-term average of 24.4 points. The assessment of the current situation in Germany also improved to 10.0 points in November. Both the data for Germany easily surpassed the median estimates. Meanwhile, the Zew data also showed the sentiment indicator for the Eurozone increased to a reading of 31.8 points in December, while the indicator for the current situation in the Eurozone decreased in December to minus 62.8 points. As per ZEW President, Professor Clemens Fuest, “Confidence in the German economy seems to be slowly returning among the financial market experts surveyed by ZEW. This increase is related to favorable economic conditions such as the weak euro and the low crude oil price. The recently published German export figures already show a positive trend. However, we should be aware that the current optimism is fuelled by factors that might change even over the short term.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 16, 2014 OctaFX.Com News Updates AUD/USD hits 2-day highs FXStreet (Córdoba) - The US dollar weakened in the currency market during the European session and pushed AUD/USD to the upside, amid better-than-expected data from the Eurozone. The pair climbed to 0.8274, reaching the highest price since last Friday and currently trades at 0.8250/55, 45 pips above yesterday’s closing price. AUD/USD rebounds from 0.8198 During the Asian session the aussie reached a fresh multi-year low versus the US dollar after the release of the Chinese HSBC PMI Manufacturing index that dropped in December, according to the preliminary reading to 49.5, from 50.0; reaching the lowest level in seven months. The pair bottomed at 0.8198 but rebounded and then gained bullish momentum after breaking above 0.8235. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 16, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 16, 2014 Author Report Share Posted December 16, 2014 EUR/USD reaches 4-week highs FXStreet (Córdoba) - EUR/USD managed to break above 1.2500 and climbed to fresh 4-week highs in a volatile session where the dollar rallies against emerging market currencies but falls against majors. Better-than-expected Eurozone data acted as trigger, sending EUR/USD to a high of 1.2569, last seen November 20 and the euro has managed to hold onto gains despite the cautious tone among financial markets. At time of writing, EUR/USD is trading at 1.2545, recording a 0.92% gain Tuesday. Investors also remain wary as tomorrow the Fed concludes its 2-day monetary policy meeting, with focus on the 'considerable time' description of the period the bank considers it’ll be appropriate to keep historical low rates. EUR/USD levels to watch Immediate resistances are now seen at 1.2575 (Nov 20 high) and 1.2600 (psychological level/Nov 19 high), while supports could be found at 1.2414 (Dec 15 low), 1.2400 (psychological level) and 1.2370 (Dec 11 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 16, 2014 OctaFX.Com News Updates United States Building Permits (MoM) came in at 1.035M below forecasts (1.06M) in November Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 16, 2014 OctaFX.Com News Updates UK Inflation forecast for December 2014 – RBS FXStreet (Barcelona) - Ross Walker of RBS forecasts the UK inflation readings for December 2014, anticipating CPI to fall to 0.6% from November’s 1.0%. Key Quotes “CPI inflation fell to a 12-year low of 1.0% in Nov from 1.3% in Oct, significantly below City forecasts (consensus & RBS: 1.2%).” “CPI inflation is forecast to fall to 0.6% in December, with the core CPI inflation rate edging up slightly to 1.3%.” “RPI inflation is forecast to fall to 1.6% in Dec from 2.0% in Nov.” “Medium-term inflation forecasts lowered significantly: CPI <1% for almost all of 2015 and below target throughout 2016.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 16, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 17, 2014 Author Report Share Posted December 17, 2014 GBP/CHF recovers above 1.5100 FXStreet (Córdoba) - GBP/CHF is rising for the second day in a row after, recovering after falling on Tuesday to 1.4993, the lowest price in three weeks. Recently the pair printed a fresh at 1.5168. The pound gained momentum in the market on Wednesday after UK employment data and Bank of England’s minutes and so far is the best performer among European currencies. Yesterday, on a volatile session GBP/CHF dropped sharply from 1.5100 to 1.4990 but then rebounded and erased losses to finish the day above 1.5100. GBP/CHF technical levels To the downside support might be located at 1.5060, 1.5010 and 1.4990 (Dec 16 low). On the opposite direction, resistance could lie at 1.5165 (daily high) and above here at 1.5190 (Dec 16 high) and 1.5245. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 17, 2014 OctaFX.Com News Updates JPY is soft as risk aversion shifts and exports disappoint – Scotiabank FXStreet (Barcelona) - JPY trades weak on a shift in risk aversion and disappointing exports and imports, with fluctuations in risk appetite being the largest near term drivers for the USD/JPY pair, notes Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank. Key Quotes “JPY is soft today, having retraced half of yesterday’s strength on a shift in risk appetite. Japan’s trade balance was narrower than expected but both exports and imports disappointed, with exports up just 4.9%y/y and imports falling –1.07%y/y. The lower oil price is a net benefit to the economic backdrop, even as it could weigh on inflation on the near-term.” “However for USDJPY the current fluctuations in risk appetite have proven the largest near-term drivers. Over time we expect USDJPY to be driven higher by the fundamental backdrop; however in the near-term USDJPY is likely still vulnerable to risk aversion induced downside pressures.” “USDJPY short‐term technicals: mixed—technicals are conflicting, suggesting that USDJPY has not developed a trend. Accordingly, the technical outlook is somewhat clouded.” “Support lies at the recent low of 115.57; while resistance comes in at yesterday’s open of 117.82 followed by 118.20.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 17, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 18, 2014 Author Report Share Posted December 18, 2014 FTSE gains almost 1% FXStreet (Mumbai) - The London’s Ftse index opened higher following on the increased probability of a delay in the interest rate hike in the US, although part of the gains have been erased. The Ftse traded 0.89% higher at 6391 levels at the time of writing, compared to the previous session’s close of 6336.48 levels. The index had opened higher at 6418.50 levels, before declining to the current level of 6391. The index breadth is positive with an advance-decline ratio of 88:11. The Ftse Oil Equipment Services and Distributions index gained 4.75%, while the Mining index is up 1.42%. All other sectors are trading in green, except the Telecom index, which has weakened 1.14%. Among stocks, Petrofac and Tullow Oil have gained 5.64% and 4.43% respectively. Meanwhile, Cocacola and United Utilities have weakened 2.33% and 1.5% respectively. The index hit a low of 6358 levels before recovering on a stronger-than-expected UK retail sales data for November. FTSE Technical Levels The index has an immediate resistance at 6446, above which gains could be extended to 6544 levels. Meanwhile, support is seen at 6361 and 6294 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 18, 2014 OctaFX.Com News Updates Oil rallies 3%, Sell-off seen as overdone FXStreet (Mumbai) - Both Crude oil benchmarks climbed higher, extending gains seen in the Asian trading as the massive sell-off seen in the past week was seen as excessive. Currently, Brent oil trades at USD 63.26/ barrel and WTI crude oil trades at USD 58.54/ barrel, both gaining about 3% on the day. Oil prices gained strength today also as Saudi Oil Minister Ali al-Naimi reiterated that it's difficult if not impossible for OPEC or Saudi Arabia to cut production and added "the market is passing through the temporary problem," which was caused mainly by a global economic slowdown. Moreover, Russian President Vladimir Putin’s speech too added to the rally in oil prices. Putin said the Russian economy will rebound and the plummeting currency will stabilize while predicting the current crisis could last two years at the most. As he pointed out the economic performance will depend on the external factors and the recovery may come sooner should these change for the better. Crude Oil Technical Levels Brent oil has an immediate resistance which stands at 63.94 (Dec 12 High), above which gains could be extended to 65.37 (Dec 11 High) levels. Meanwhile, support is seen at 62.27 (5-day SMA), from here losses could be extended to 61.45 (20-day SMA) levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 18, 2014 OctaFX.Com News Updates Canadian dollar gains on Oil price rebound FXStreet (Mumbai) - The US dollar erased moderate gains from the Asian session and fell against the Canadian counterpart as traders now focus towards a set of US economic data due for release in the US trading. The USD/CAD pair slid -0.49% on the day to trade at 1.1574, as against previous session close of 1.1631 levels. The Canadian dollar gained against the greenback during the European session as oil prices rallied to 3% which provided further impetus to the loonie, oil being Canada’s top export. The loonie also remains supported before US unemployment Claims and Philly Fed Manufacturing Index which are expected to come in negative than market forecasts. The US dollar also remains subdued as markets digest FOMC announcement. USD/CAD Levels to consider To the upside, the next resistance is located at 1.1601 (5-day SMA) and above which it could extend gains to 1.1619 (10-day SMA) levels. To the downside immediate support might be located at 1.1546 (200-day SMA) and below that at 1.15 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 18, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 18, 2014 Author Report Share Posted December 18, 2014 EUR/USD moves off lows but lacks momentum FXStreet (Córdoba) - EUR/USD briefly dropped below the 1.2300 level and hit a fresh 10-day low of 1.2277, from where it bounced to trim intraday losses. EUR/USD managed to move off lows but the recovery lacked follow-through as the euro remains vulnerable amid prospects the ECB might take additional easing measures next month. At time of writing, the pair is trading at 1.2310, recording a 0.24% loss on the day. EUR/USD levels to watch As for technical levels, EUR/USD could find immediate resistances at 1.2350 (daily high), 1.2400 (psychological level) and 1.2415 (21-day SMA). On the other hand, supports could be found at 1.2277 (daily low), 1.2247 (2014 low Dec 8) and 1.2200 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 18, 2014 OctaFX.Com News Updates USD/CHF retreats to 0.9755 and rises back above 0.9800 FXStreet (Córdoba) - USD/CHF jumped after the Swiss National Bank introduced negative interest rates on sight deposits to 0.9847, hitting levels last seen in July 2012, and then pulled back. From the highs retreated almost a hundred pips and found support at 0.9755. Ahead of the release of US economic data the pair is trading back above 0.9800 and holds a bullish tone. The Swiss franc is the worst performer across the board on Thursday so far, falling particularly against commodity currencies. USD/CHF challenging 0.9800 On a wider perspective the pair is also moving with a clear upside bias, making higher lows and higher highs, on a monthly basis, since July. Early on December traded momentarily on top of 0.9800 but failed to consolidate and retreated; now the pair could post the first daily close above in two years. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 18, 2014 OctaFX.Com News Updates USD/JPY climbs above 119.00 after jobless claims FXStreet (Córdoba) - USD/JPY edged a tad higher and managed to regain the 119 mark after data showed US jobless claims unexpectedly declined last week. Claims for unemployment benefits dropped by 6,000 to 289,000 last week, versus 295,000 expected. Data gave the dollar a mild boost and sent USD/JPY back above 119.00. USD/JPY is currently trading at the 119.10 zone, up 0.40% on the day, having reached a daily high of 119.16 so far. USD/JPY has been moving away from 1-month lows over the last sessions, resuming its upward bias after staging a year-end correction from a 7-year high 121.83. USD/JPY technical levels As for near-term levels, USD/JPY could find immediate resistances at 119.55 (Dec 11 high) and 120.00 (psychological level), while supports are seen at 118.25 (daily low) and 118.00 (psychological level/Dec 16 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 18, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 18, 2014 Author Report Share Posted December 18, 2014 EUR/USD approaches 2014 lows FXStreet (Córdoba) - EUR/USD weakened during the last hours and dropped to 1.2264, reaching a fresh weekly low after another decline in US initial jobless claims. The pair approached 2014 low that lie at 1.2246. Currently the euro is trading below 1.2280 as it remains under pressure amid expectations of more announcements by the European Central Bank in the next meeting. The currency has been unable to appreciate despite the fact that European markets are rising sharply, with the Dax up 2.20% and the Cac 40 climbing 2.77% EUR/USD significant reversal Last week, before rising above 1.2500, bottomed at 1.2245, reaching the lowest price since August 2012. On Tuesday EUR/USD peaked at 1.2569 and since then dropped more than 300 pips. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 18, 2014 OctaFX.Com News Updates Russia Central Bank Reserves $ down to $414.6B from previous $416.2B Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 18, 2014 OctaFX.Com News Updates EUR/GBP drops further below 0.7860 FXStreet (Córdoba) - EUR/GBP weakened after better-than-expected economic data from the United Kingdom and fell further after Wall Street opening bell. Recently printed a fresh weekly low at 0.7835. While the pound remains resilient in the market, the euro is among the worst performers affected by expectations of more easing from the European Central Bank. The pair is falling for the third day in a row and is having the worst decline since February. Currently trades at 0.7839, down more than 1%. EUR/GBP eyes December lows From Monday’s high the pair dropped 165 pips and approached an important support area located around 0.7830, where December lows lie. Below here, the next potential support could be located at 0.7795 (November lows). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 18, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 19, 2014 Author Report Share Posted December 19, 2014 Short stable period expected in the FX Space – ING FXStreet (Barcelona) - The ING Bank Research Team sees the somewhat stabilized FX markets and the lack of any new data in the coming week to keep the markets calm during Christmas, and comments on the Greek election outcome and the data ahead. Key Quotes “Greek lawmakers failed to elect Stavros Dimas as the country’s next President in the first round vote on December 17, securing only 160 votes from parliamentary deputies out of 300 when 200 votes are required. Another ballot is to be held on December 23 and he is again likely to fall short. This means it will come down to an all-important third vote on December 29 when the requirement drops to 180 votes.” “Given the polarised nature of parliament this will not be easily achieved and if he doesn’t get enough votes then a snap parliamentary election will be called with radical Left wing Party, SYRIZA, currently leading in the polls. If SYRIZA do win it could reignite fears of a Eurozone break-up given that they are advocating a huge restructuring of Greek debts and large increases in government spending, which would be heavily resisted by other Eurozone countries.” “Elsewhere in the Eurozone it will be a quiet week, although consumer confidence will be in focus to see whether lower fuel costs and aggressive ECB action are being felt by households. It is a similar story in the UK where GDP revisions and public finance numbers will be the highlight.” “In the US, 3Q GDP may be revised a touch higher, but consumer confidence may be mixed. On the one hand it should be supported by rising employment and incomes, but recent equity market losses are a downside threat. Regional business surveys should be in decent shape, as should durable goods orders, while inflation pressures will be depressed by falling energy costs.” “All in all the data should point to a very positive outlook for the US economy with the Federal Reserve leading the monetary policy tightening cycle next year.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 19, 2014 OctaFX.Com News Updates Stay short European currencies vs. the USD – SG FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Research at Societe Generale, sees the equity-sensitive EM and high-beta currencies staging a relief rally with global equities continuing to rally, further suggesting to go short on European currencies vs. the USD and long for USD/JPY. Key Quotes “Global equities are continuing to rally and US Treasury yields are moving higher, with the longer end under-performing as negative-carry flatteners are cut back ahead of year’s end. It’s a neat trick to have rates markets reacting to a ‘more hawkish than expected’ FOMC and the equity market rallying in relief that they were not too hawkish. This tells us about market positioning as much as anything else." “The FX reaction is to see equity-sensitive EM and high-beta currencies stage relief rallies, while the more rate-sensitive ones are relatively vulnerable. Stay short European currencies vs. the US dollar and most of all, stay long USD/JPY.” “The US rate move has seen sharp widening in relative spreads with Euros, notably at the front end of the curve where the 2-year rate spread is wider that it was in October now. Some relief in European risk sentiment provide a bit of support for the Euro but the trend is firmly lower.” “Meanwhile, the SNB rate cut/introduction of negative deposit rates had a big initial impact on EUR/CHF that has already been partially reversed – but does reinforce the case for longs in USD/CHF and also in GBP/CHF.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 19, 2014 OctaFX.Com News Updates GBP/USD at day’s low as UK public sector net borrowing rises FXStreet (Mumbai) - The GBP/USD pair has slipped to the day’s low after the official data in the UK showed the budget deficit widened again in November, although by far less than had been expected by economists. The pair is now down 0.13% to trade at 1.5651 levels, after failing to extend gains above 1.5680 levels. Public sector net borrowing - excluding state-controlled banks - was GBP 14.1 billion last month, from a revised figure of GBP 7.1 billion in October. Economists had forecast borrowing to increase to GBP 15.1 billion. Earlier this month, the Office for Budget Responsibility raised its forecast for borrowing this year to GBP 91.3 billion from GBP 86.6 billion previously. Earlier today, the Pound was also weighed down by the disappointing Gfk consumer confidence data. GBP/USD Technical Levels The pair has an immediate support located at 1.56, under which losses could be extended to 1.5547 levels. Meanwhile, resistance is seen at 1.5682 and 1.5750 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 19, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 19, 2014 Author Report Share Posted December 19, 2014 Canadian data today may deliver mixed signals on the economy – TDS FXStreet (Barcelona) - According to Shaun Osborne and Martin Schwerdtfeger, FX Strategists at TD Securities, today’s Canadian data is expected to deliver mixed signals on the economy and will unlikely help to resolve the short-term uncertainty for funds. Key Quotes “The market already feels like it is starting to dial it down ahead of the holidays. The CAD ignored a late sell-off in crude oil yesterday—ending the brief consolidation in the market and driving WTI back to a little shy of the mid-week lows—and maintained a somewhat better bid tone versus a generally stronger USD into the close Thursday.” “USDCAD looks heavy but it really should be moving the other way. It’s hard for us to ignore two—usually—fairly decisive drivers of the CAD’s performance; spreads and commodities. US-Canada 5-year spreads remain elevated (new cycle highs) and soft crude is a clear CAD negative.” “Our FV estimate for USDCAD based on these variables is tracking obstinately higher (1.1870 today) even as the spot rate is trying to push onto a 1.15 handle.” “Technically, we can see grounds for a little more softness in USDCAD near-term, with the USD well capped in the upper 1.16s this week. But fundamentally, we see little reason for optimism on the CAD; something will have to give—either spreads and commodities improve in the CAD’s favour or the CAD will shortly be trading at new lows versus the USD.” “Today’s Canadian data—which we expect to deliver some mixed signals on the economy—is unlikely to help resolve the short-term uncertainty for funds on the basis of our forecasts (see above).” “Broadly, the numbers should reinforce the trading range that has developed in the past few sessions but our gut feeling is that slippage in USDCAD should remain limited and that minor dips remain a buy.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 19, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 19, 2014 Author Report Share Posted December 19, 2014 US treasury 30y yields 35bp away from all-time yield lows – RBS FXStreet (Barcelona) - The RBS Research Team observes that the 30y treasury bonds are only 35bp away from seeing all-time lows for bonds at around 2.50%, further noting that its daily momentum is strongly bearish. Key Quotes “The back end of the yield curve appears uniquely vulnerable to an overbought correction right now. At the end of the day on Wednesday the Treasury 5's-30's curve tested and swiftly rejected significant support at 111bp, a level derived by the tights in this curve in mid-2008 and then again at the start of 2009. I illustrate this support level in today's first chart while the second chart shows that daily momentum turned in favor of further steepening in the past few days.” “The upshot is that those crowded into the long end of the curve may have some rough sledding in the coming weeks—perhaps failing to beat the forwards in their flattening trades or just losing money on outright longs in bonds.” “With 30yr yields roughly 35bp away from the all-time yield lows in American history (2.50% in December 2008 and again in July 2012), it may be a good time for the longs in bonds to ask themselves what are playing for with 120bp of rally behind us and 35bp left before all-world resistance emerges.” “5s (1.65%) – Next support comes in at 1.70% (where we were Monday last week) and then it gets stronger at 1.80% and just above. First resistance emerges at 1.47% and then major resistance lines up at ~1.27%. Daily momentum is bearish again.” “10s (2.20%) –Next resistance comes in at the flash crash lows ~1.86%. Next support comes in ~2.40% with major support at 2.66% after that. Daily momentum is bearish.” “30s (2.83%) – Bonds don't have any solid support until 3.105%, the November "lows." Next resistance is at ~2.50%, the all-time rate lows for bonds. Daily momentum is solidly bearish.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 19, 2014 OctaFX.Com News Updates EUR/CAD running into supply post Canadian CPI FXStreet (Guatemala) - EUR/CAD is trading at 1.4264, up 0.11% on the day, having posted a daily high at 1.4296 and low at 1.4203. EUR/CAD has dropped back post the highs and rally that’s came in the form of a spike post the Canadian CPI arriving at 2% and missing the 2.2% expectations. The main fall in process came from gasoline year on year by 5.9%. The 1.53 handle is a congested area where strong offers are placed and coinciding with EUR/USD’s recent fall out from the top of the 1.24 handle. The current price is at the (Daily 100 SMA) and just ahead we have 1.4285 (Weekly Classic PP), 1.4288 (Daily Classic PP) and 1.4341 (Hourly 200 SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 19, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 22, 2014 Author Report Share Posted December 22, 2014 Quiet range expected for EUR/USD – FXStreet FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, explains that the overall bearish trend for EUR/USD remains firm, but with holiday season in, the pair will likely remain confined to the 1.22/23 range. Key Quotes “The EUR/USD pair bounced from its year low of 1.2219, extending up to 1.2272 early in the European session. But volume has gone on holidays and the pair trades in slow motion within Friday’s range. From the fundamental side, the only data released in the EZ was German import price index, down yearly basis 2.1%, below market expectations of a 1.9% drop.“ “Technically, the 4 hours chart shows indicators recovering from oversold levels, but well below its moving averages, with 20 SMA presenting a strong bearish slope above currently around 1.2300. The overall bearish trend remains firm in place, although not much action should be expected these days, with the pair most likely confined to the 1.22/23 range.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 22, 2014 OctaFX.Com News Updates ECB may announce bond purchase program in early 2015 – BBH FXStreet (Barcelona) - The Brown Brothers Harriman Team notes that consensus has developed around ECB’s bond purchase program timing, with markets expecting it to begin in early 2015. Key Quotes “There appears to be a general consensus that the ECB will announce a sovereign bond purchase program early next year. This anticipation and the decline in oil prices have driven European bond yields to record lows. It has helped ensure that the Greece's political uncertainty stays localized. Economic data alone will not persuade the market otherwise. That said, money supply data and credit data, due December 30, will be important for assessing the next phase of the TLTROS, which require banks to increase their lending books.” “A non-binding opinion of the European Court of Justice on the OMT program is expected on January 14. It is not seen as an obstacle.“ OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 22, 2014 OctaFX.Com News Updates CFTC Positioning: USD longs fall to lowest levels since September – Rabobank FXStreet (Barcelona) - The Rabobank Research Team shares the CFTC positioning data for FX space as at 16th December, 2014, noting that USD longs fell back to lowest levels since September after FOMC meeting. Key Quotes “USD long slipped back to their lowest level since early September ahead of last week’s FOMC meeting.” “Coincidentally, net EUR shorts dropped substantially back to their lowest levels since August. There is some speculation that full blown QE from the ECB could support the EUR through increased demand for peripheral bonds.” “Net JPY shorts continued their retreat. On the back of a bout of safe haven demand, net shorts returned to their lowest level for 5 weeks. The renewed upside climb in spot USD/JPY suggests this pullback in positions is temporary.” “For a second consecutive week GBP shorts loss ground aggressively. They have now returned to the lowest levels in 5 weeks.” “AUD net shorts dropped back to their lowest levels since late October. CAD short positions, however, lengthened a little. MXN net shorts were extended further.” “CHF net shorts dropped significantly in a week in which SNB announced negative rates.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 22, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 22, 2014 Author Report Share Posted December 22, 2014 EUR is up off its lows, focus still on ECB QE – Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, notes that EUR is up 0.3% in the NA open after Friday’s lows, further adding that with limited data in sight the focus still remains in the ECB QE. Key Quotes “EUR is up 0.3% into the NA open; however the core takeaway is that EUR fell to fresh lows on Friday, flirting with a break below 1.22. News reports continue to focus on the German stance on potential ECB QE, with several reports suggesting that those close to Chancellor Merkel are not in favour.” “European yields continue to fall, with most yields at or close to multi‐year lows (see table). Pre‐positioning for the potential of ECB QE is helping to suppress yields, which will begin to paint the central bank into a corner. We expect EUR to trend lower in 2015; however warn that this week it could fall victim to liquidity constraints and holiday positioning flows.” “EURUSD short‐term technicals: bearish—Most technical studies warn of EUR downside risk, warning that EUR is likely to break to fresh lows. We are biased to be short, looking for fresh EUR lows in the near‐term.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 22, 2014 OctaFX.Com News Updates Bearish bets on the US 10-yr treasury reach a 4-year high - CFTC FXStreet (Mumbai) - The Commodity Futures Trading Commission (CFTC) released for the week ended Dec. 16 showed traders added to their overall bearish bets on the US 10-yr treasury notes, taking the cumulative bearish bets at a 4-year high. For the week ended Dec. 16, the non-commercial futures contracts of the 10-year treasury notes, primarily traded by large speculators and hedge funds, totaled a net position of -258,250 contracts, which is a weekly decline of 56,915 contracts, from the previous week’s total of -201,335 net contracts. Contrary to the bearish bets on the treasuries, the yield on the 10-Year treasury note declined from 2.22% to 2.07% during the reporting period. The rise in bearish bets may have been due to the widespread belief that the Federal Reserve (Fed) at its Dec. 17 meet, shall indicate a sooner-than-expected interest rate hike in the US. The 10-yr yield currently trades at 2.172%; marginally above the 5-DMA located at 2.17%. 10-yr Treasury yield Technical Levels The yield has an immediate support located at 2.17% (5-DMA), under which losses could be extended to 2.136% (10-DMA). Meanwhile, resistance is seen at 2.20% and 2.225% respectively. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 22, 2014 OctaFX.Com News Updates USD/JPY surges, approaching 120 levels – FXStreet FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that the USD/JPY pair moves higher towards 120.00 levels alongside surging stocks, further anticipating price to accelerate above 120.00. Key Quotes “The USD/JPY pair surges alongside with stocks, approaching the 120.00 figure early US hours, albeit lacking momentum due to the inexistent volume across the forex board.” “Short term, the 1 hour chart shows that indicators hold above their midlines, while 100 SMA approached 200 SMA both below current price at 118.45.” “In the 4 hours chart, the indicators had turned flat above their midlines accordingly to current market conditions." "Nevertheless, the upside is favored with price expected to accelerate some once above 120.00.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 22, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 23, 2014 Author Report Share Posted December 23, 2014 United Kingdom Index of Services (3M/3M): 0.7% (October) vs previous 0.8% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 23, 2014 OctaFX.Com News Updates LME Inventory Update FXStreet (Mumbai) - The warehouse stocks data released daily by the London Metal Exchange (LME) today showed a rise in the inventory levels of Copper and nickel, while the inventory levels of Lead, Zinc and aluminium declined. Lead and zinc stocks decreased by 25 and 1225 tonnes respectively, while aluminium stocks witnessed another massive fall of 9925 tonnes. Meanwhile, copper stocks increased by 3525 tonnes and nickel inventory went up by 582 tonnes. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official pageonnes. Dec 23, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 23, 2014 Author Report Share Posted December 23, 2014 US GDP upward revised to 5 percent FXStreet (London) - The final reading of US GDP, adjusted for price changes, increased at an annual rate of 5.0 percent in the third quarter of 2014, according to the "third" estimate released by the Bureau of Economic Analysis, upwards revised from the second reading of 3.9 percent. The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month. According to the BEA, the increase in real GDP in the third quarter primarily reflected positive contributions from PCE, non-residential fixed investment, federal government spending, exports, state and local government spending, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, decreased. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official pageonnes. Dec 23, 2014 OctaFX.Com News Updates USD/JPY extends gains on strong US GDP FXStreet (Córdoba) - USD/JPY pushed a tad higher and printed fresh highs after the release of much better-than-expected US gross domestic product. However, a big miss in durable good orders tempered dollar’s rally. USD/JPY extended intraday gains and hit its highest level since in two weeks at 120.47 so far. At time of writing, the pair is trading just below recent highs, recording a 0.35% increase Tuesday. US data showed GDP grew at a seasonally adjusted annual rate of 5.0% in the Q3, up from the Q2 growth rate of 4.6% and the strongest pace in 11 years. However, not all was good news, as durable goods orders fell 0.7% in November, missing by far expectations of a 1.8% gain. USD/JPY technical levels As for technical levels, immediate resistances are seen at 121.00 (psychological level) and 121.83 (2014 high Dec 8). On the flip side, supports could be found at 119.95 (daily low) and 119.30 (Dec 22 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official pageonnes. Dec 23, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 23, 2014 Author Report Share Posted December 23, 2014 EUR/USD breaks below 1.2200 after strong US GDP FXStreet (Córdoba) - The dollar strengthened across the board and dragged EUR/USD below 1.2200 to fresh 2 ½-year lows after data showed US GDP growth at the strongest pace since Q3 2003. US gross domestic product grew at a seasonally adjusted annual rate of 5.0% in the Q3, marking the strongest pace in 11 years. However, durable goods orders fell 0.7% in November, missing by far expectations of a 1.8% gain. EUR/USD broke below 1.2200 and stops were triggered, sending the pair quickly to its lowest level since August 2012 at 1.2182. At time of writing, the pair is trading at 1.2190, recording a 0.32% loss on the day. EUR/USD levels to watch Immediate supports are now seen at 1.2167 (Aug 3 2012 low) and 1.2133 (Aug 2 2012 low). On the other hand, next resistances could be found at 1.2245 (daily high) and 1.2271 (Dec 22 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official pageonnes. Dec 23, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 25, 2014 Author Report Share Posted December 25, 2014 US Treasury yields extend post US GDP gains FXStreet (Mumbai) - The yields across the short-end and the long-end of the treasury market curve extended gains today after recovering losses witnessed in the Asian session. The yields have extended gains witnessed in the previous session after a surprisingly strong US third-quarter GDP report increased bets of sooner-than-expected interest rate hike in the US. The 10-yr yields in the US rose 2.7 basis points to 2.284%, while the 30-yr yield is up 1 basis points to 2.861%. Moreover, the 10-yr yield had gained more than 10 basis points in the previous session to finish at 2.26%. Meanwhile, at the short-end, the 2-year yield, a barometer of short-term interest rate expectations, continues to hover around the 3.5 year high of 0.747%. However, the 1-year yield has inched slightly lower to 0.242%. The yield may continue to rise on bets of a sooner-than-expected interest rate hike as the markets lack fresh fundamental trigger as we move into the new year. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official pageonnes. Dec 25, 2014 OctaFX.Com News Updates Strong weekly US jobs data pushed EUR/USD back below 1.22 levels FXStreet (Mumbai) - The fourth consecutive decline in the US weekly jobless claims pushed the EUR/USD below 1.22 levels, after having clocked a high of 1.2220 ahead of the data. The EUR/USD pair now trades 0.20% higher for the day at 1.2198 levels. The pair fell from the day’s high immediately after the labor department in the US reported the initial jobless claims for the past week at a 7-week low of seasonally adjusted 280,000. Moreover, the strong labor market data comes a day after the commerce department in the US confirmed US third quarter GDP at 5.0%. EUR/USD Technical Levels The pair has an immediate resistance located at 1.2220, above which another resistance is seen at 1.2247 levels. Meanwhile, support is seen at 1.2164 and 1.2132 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official pageonnes. Dec 25, 2014 OctaFX.Com News Updates Another Doji on the daily charts for EUR/AUD FXStreet (Mumbai) - The EUR/AUD pair is on its way to witness a second consecutive Doji candle on its daily chart, as the pair hovers largely unchanged for the day. The pair currently trades at 1.5040, compared to the previous session’s close of 1.5033. The pair has swung on both sides and is likely to settle largely unchanged for the day, similar to the moves witnessed on Tuesday, The gains were capped after a strong weekly jobless data in the US pushed the EUR/USD back below 1.22 levels, thereby erasing gains in the EUR/AUD cross. Meanwhile, the AUD/USD has inched marginally higher by 0.13%, which further capped gains in the EUR/AUD pair. EUR/AUD Technical Levels The immediate resistance is seen at 1.5062 and 1.5082 (10-DMA). Meanwhile, support is seen at 1.4989 and 1.4978 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official pageonnes. Dec 25, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 26, 2014 Author Report Share Posted December 26, 2014 GBP/USD firming up into the close FXStreet (Guatemala) - GBP/USD is trading at 1.5552, up 0.30% on the day, having posted a daily high at 1.5559 and low at 1.5500. GBP/USD has risen back to the support of the 1.5540 level that was broken yesterday when the pair broke down through the 1.56 handle again. US yields improved on the back of the US data flows of this week. We started out with the Q3 GDP offering the highest growth since 2003. Today we had the fourth consecutive decline in the US weekly jobless claims. This has underpinned the positive outlook for 2015 in the US. In the UK, growth continues to be disappointing. Technically, support lies at 1.5486, while resistance lies at recent congestion of 1.5590. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official pageonnes. Dec 26, 2014 OctaFX.Com News Updates GBP/USD firming up into the close FXStreet (Guatemala) - GBP/USD is trading at 1.5552, up 0.30% on the day, having posted a daily high at 1.5559 and low at 1.5500. GBP/USD has risen back to the support of the 1.5540 level that was broken yesterday when the pair broke down through the 1.56 handle again. US yields improved on the back of the US data flows of this week. We started out with the Q3 GDP offering the highest growth since 2003. Today we had the fourth consecutive decline in the US weekly jobless claims. This has underpinned the positive outlook for 2015 in the US. In the UK, growth continues to be disappointing. Technically, support lies at 1.5486, while resistance lies at recent congestion of 1.5590. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official pageonnes. Dec 26, 2014 OctaFX.Com News Updates Wall street closing: Merry Christmas from Wall Street FXStreet (Guatemala) - As we close for Christmas, Stocks on Wall Street erased the gains in the last moments of the markets this week. This put an end to a five-day run of gains in the Dow that crossed above 18,000 for the first time. The S&P 500 ended up at 2,081 falling to just 0.2%. The US data of late has been the instigator for a positive end to the year while stocks have been supported on the Fed and their intentions for 2015. The focus from here will remain with the Fed and timings of a rate hike in the US while geopolitical tensions may be a risk that we will remain cautious around. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official pageonnes. Dec 26, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
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