Jump to content

Financial News And Analysis by Octafx.com

Rate this topic


Recommended Posts

octafx_newsupdates-1_zps8241bbb2.png

 

 

Belgium Leading Indicator dipped from previous -3.9 to -4.1
FXStreet.com (Barcelona) For more information, read our latest forex news.
July 24,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

EUR/USD challenges daily highs
FXStreet (Córdoba) - EUR/USD has continue to recover from daily lows and retested daily highs at the 1.0990 area as the dollar gives up ground versus major competitors, while a sudden bout of EUR/CHF demand is helping the euro.
The dollar reacted negatively to below expectations new home sales data and has continued to move lower over the last hours. EUR/USD reached a session high of 1.0992 before pulling back slightly. At time of writing, the pair is trading at 1.0970, just a few pips below its opening price but still on track to post a modest weekly gain.
FOMC meeting eyed
With Greek short-term problems solved, for now, attention now turns to the Federal Reserve and the timing of the lift-off after Yellen reiterated earlier this month the bank was still on track to raise rates at some point this year. Next Wednesday the Fed concludes its 2-day policy meeting and investors will be looking for any change in Fed statement.
EUR/USD technical levels
As for technical levels, immediate resistances are seen at 1.1000 (psychological level/100-day SMA), 1.1017 (Jul 23 high) and 1.1035 (Jul 15 high). On the downside, supports could be found at 1.0925/21 (Jul 24 & 23 low), 1.0900 (psychological level) and 1.0869 (Jul 22 low).
July 24,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 






Treasury yields drop ahead of the durable goods report


FXStreet (Mumbai)- The safe haven treasury prices rose, thereby pushing yields lower ahead of the data in the US, which could show core durable goods orders witnessed modest rebound in June.


The yield on the US 10-year Treasury note currently trades 4.3 basis points lower at 2.23%. The long-end treasury yields dropped after China’s Shanghai Composite index fell more than 8% to register its biggest single day fall since 2007. The drop also pushed major European equities lower. The major index futures also point to a weak opening on Wall Street.


Investors now await the US durable goods orders report for June. The headline number is seen rising 3.00%, while the core figure is expected to rise 0.5%, after stalling in May.


The data could influence the short-end - 2-year yield, which mimics short-term interest rate expectations in the US. At the moment, the yield is down 1.2 basis points at 0.67%.




July 27,2015

OctaFX.Com News Updates





Trade with OctaFX - the Most Reliable Forex broker!

oie_EgQvfWMuiI6O_zps5c35ec25.gif


octafx_reg.png

 

 


Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 

GBP/USD spikes to 1.5580, takes out 50-DMA resistance
FXStreet (Mumbai) - The bid tone on the GBP/USD ensured the spot rose above 1.5551 (50-DMA), triggering stops, which pushed the pair to a session high of 1.5585.
Trades above hourly 200-MA
The bullish momentum appears strong as the spot trades above its hourly 200-MA currently located at 1.5578. The weakness in the treasury yields, coupled with the rise in Gold prices is supporting weighing over the USD. The sharp fall in the Chinese equities could have led the markets to speculate that Fed may put more emphasis on overseas turbulence in its policy statement on Wednesday, thereby hinting at a possible delay in the rate hike.
Moreover, the upbeat durable goods report has been completely ignored by the markets. The focus now shifts to the UK second quarter preliminary GDP report due for release on Tuesday.
GBP/USD Technical Levels
The immediate support is seen at 1.5551 (50-MA), under which the spot could re-test the daily low at 1.5490. On the other hand, a break above 1.5607 (23.6% Fib R of Apr-Jun rally) could open doors for 1.5671 (July 23 high).
July 27,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

EUR/USD trades at 2-week highs above 1.1100
FXStreet (Córdoba) - EUR/USD has retested European session highs at the 1.1110 zone helped by EUR/CHF demand while the USD continues to underperform ahead of the Federal Reserve monetary policy decision on Wednesday.
Following a brief corrective move, EUR/USD gathered pace and climbed to a high of 1.1111 roughly the same peak it reached earlier, but sellers continue to keep the upside limited. At time of writing, the pair is trading at 1.1102, recording a 1.15% gain on Monday.
USD underperform across the board
The US dollar is among the worst performers of the day amid fears that unstable Chinese stock markets could delay the Federal Reserve lift-off.
EUR/USD levels to watch
As for technical levels, if EUR/USD breaks decisively above 1.1110/12, next resistances line up at 1.1124 (Jul 9 high) and 1.1195 (Jul 13 high). On the other hand, supports are seen at 1.0968 (Jul 27 low), 1.0925 (Jul 24 low) and 1.0900 (psychological level).
July 27,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

Russian central banks expected to ease further – TDS
FXStreet (Edinburgh) - According to strategists at TD Securities, the CBR could lower its benchmark rate by 25 bp at this week’s meeting.
Key Quotes
“In Russia, on Friday, in line with the consensus, we expect the CBR to cuts its key rate by 50 bps to 11.0%”.
“At the June meeting the CBR cut by 100 bps, but said that the potential of monetary policy easing will be limited by inflation risks in the next few months“.
“The reason for the CBR’s concern is the expected move back up in July inflation due to tariff hikes”.
“We think that these concerns will slow down but not stop rate cuts”.
“We also do not think that recent moves higher in USDRUB will stop the CBR easing as the FX moves have largely matched falls in oil prices”.
July 27,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 

Oil drops to near six-month low
FXStreet (Mumbai) - Oil sell-off continued on Tuesday, with prices dropping to near six month low as renewed weakness in the Chinese equities has triggered concerns regarding the health of the world’s second largest economy.
Brent fell to an intraday low of USD 53.28/barrel, its lowest since early February, before recovering to USD 52.63/barrel. WTI Crude also printed a low of USD 46.70/barrel, before recovering slightly to trade around USD 47.25/barrel.
China’s Shanghai Composite Index fell today, taking the cumulative losses for the first two sessions of the week to 10%. This triggered concerns that the Chinese economy may not be strong enough to counter the excess supply situation in the global economy.
Investors now await the weekly data on US inventory levels to gauge the strength of demand. A preliminary Reuters poll of analysts suggested commercial crude oil stocks in the US likely slipped last week after crossing the five-year seasonal average build in the previous week.
July 28,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

United States 4-Week Bill Auction rose from previous 0.04% to 0.05%
FXStreet.com (Barcelona) For more information, read our latest forex news.
July 28,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

Gold downside persists - CB
FXStreet (Guatemala) - Analysts at Commerzbank noted that Spot Gold has met the 50% retracement of the entire bull move up from the 1999 low.
Key Quotes:
"This was located at 1087 and represented a major long term downside target for us.
The low at 1077.25 was accompanied by a divergence of the RSI and this reflects a loss of downside momentum.
Rallies will find initial resistance at 1131/41 (50% retracement of last leg down), we can only assume while capped here a downside bias will persist.
Below 1077 will target the 1033 March 2008 high and the 1000 psychological support."
July 28,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 

Gold consolidates ahead of the FOMC statement
FXStreet (Mumbai) - Gold trades in the sideways manner as investors avoid making big bets ahead of the US Fed policy statement due for release later today.
Focus on FOMC
There is widespread belief that the Fed would stay non-committal with regard to the timing of rate hike, while putting more emphasis on the overseas turbulence. Moreover, the financial markets across the globe have consolidated ahead of the Fed statement.
The USD index is trading largely unchanged on the day at 96.75, while the treasury yields have flattened out as well. Consequently, the metal traders lack fresh cues, thereby leading to consolidation in the narrow range of USD 1095-1100/Oz.
It remains to be seen if the Fed stays non-committed or comes out slightly hawkish by ignoring overseas turbulence.
Gold Technical Levels
The immediate resistance is located at 1100, above which gains could be extended to 1105.93 (July 23 high). On the other hand, support is seen at 1095 and 1088.34 (July 27 low).
July 29,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

EUR/USD regains 1.1060 and beyond
FXStreet (Edinburgh) - After bottoming out in the 1.1030 area in early trade, a renewed buying interest has lifted EUR/USD back to the 1.1060/65 band.
EUR/USD capped by 1.1090
The pair has recovered the smile following a bout of weakness around the US dollar, dragging it to session lows when tracked by the USD Index (DXY). Absent releases in Euroland and with Greek developments momentarily in the back burner, the pair’s price action hinges almost exclusive on the risk appetite trends and USD-dynamics.
Later on in the session, the FOMC will conclude its 2-day meeting, with consensus amongst traders expecting the greenback could be supported by the Committee’s tone of the statement.
EUR/USD levels to watch
As of writing pair is up 0.01% at 1.1064 facing the next hurdle at 1.1085 (high Jul.29) followed by 1.1129 (high Jul.27) and then 1.1197 (high Jul.13). On the other direction, a breach of 1.1030 (low Jul.29) would target 1.1022 (low Jul.28) en route to1.0969 (low Jul.27).
July 29,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

United Kingdom CBI Distributive Trades Survey - Realized (MoM) registered at 21, below expectations (30) in July
FXStreet.com (Barcelona) For more information, read our latest forex news.
July 29,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 

Banxico to keep rates at 3.0% - BBH
FXStreet (Edinburgh) - The Research Team at BBH expects the Mexican central bank to stand put at today’s meeting.
Key Quotes
“Mexico central bank meets and is expected to keep rates steady at 3.0%”.
“Mid-July CPI came in lower than expected at 2.76% y/y vs. 2.87% consensus”.
“This was the lowest since at least 1989, and moves further below the 3% target”.
“Real sector data remains fairly soft. Under these conditions, we do not expect Banco de Mexico to make good on its intent to hike rates this year”.
“USD/MXN is making new all-time highs this week, yet there simply has been no inflation pass-through to date”.
July 30,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

Chile Industrial Production (YoY) up to 1.7% in June from previous -3.3%
FXStreet.com (Barcelona) For more information, read our latest forex news.
July 30,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 

German CPI prints lower than expected in July
FXStreet (Mumbai) - The preliminary data released by the Destatis revealed the inflation as measured by the consumer price index (CPI) rose 0.2% year-on-year, compared to the expectation of 0.3%. The CPI stood at 0.3% in June.
Month-on-month CPI printed at 0.2%, slightly lower than the expected rise to 0.3% from the 0.2% contraction seen in June. The Harmonised Index of Consumer Prices (HICP) printed in line with the estimates at 0.3% month-on-month and 0.1% year-on-year.
The slowdown in the inflation is mainly due to the sharp drop in the household energy and motor fuels prices (-6.2%).
July 30,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

USD/JPY moves beyond 124.50
FXStreet (Edinburgh) - The US dollar continues to appreciate vs. its Japanese counterpart on Thursday, now pushing USD/JPY to fresh tops near 124.60.
USD/JPY stronger on US data
The pair is gathering further traction despite the US GDP for the second quarter expanded at an annual pace of 2.3% vs. 2.6% initially forecasted. In addition, Initial Claims have beaten expectations once again at 267K in the week ended on July 24th and inflation tracked by the Personal Consumption Expenditures rose 2.2% QoQ – Core PCE at 1.8% inter-quarter.
USD/JPY relevant levels
At the moment the pair is advancing 0.38% at 124.42 facing the next hurdle at 124.55 (high Jul.30) followed by 124.58 (high Jun.10) and then 125.05 (high Jun.1). On the other hand, a breakdown of 123.40 (low Jul.29) would open the door to 123.01 (low Jul.27) and finally 122.50 (low Jul.14).
July 30,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

US initial jobless claims rise less than expected
FXStreet (Mumbai) - The US labor department data released on Thursday showed the first time applications for unemployment benefits stayed near cyclical lows, a sign that the labor market continues to improve.
Jobless claims stay below 300K for the 21st consecutive week
The initial jobless claims rose to 267K in the week ended July 24, compared to the estimated rise to 270K from previous week’s print of 255K. The four-week average of claims, which provides a more accurate picture of the labor market strength, fell 3,750 to 274,750 last week.
The continuing claims rose 46,000 to 2.26 million in the week ended July 18. The so-called continuing claims covered the week during which the government surveyed households for July's unemployment rate.
July 30,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 

IMF won't agree on Greek bailout without debt relief
FXStreet (Córdoba) - An IMF official stated that they will not back a Greek debt programme until Athens and its creditors find a way to collaborate to make the country’s debt sustainable, via Reuters. Comments from official support earlier FT story.
Official said crisis requires difficult decisions on all sides and the IMF won’t fund Greece without a debt relief pledge. However, the IMF would remain fully involved in Greek talks.
July 30,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

USD/JPY: buy the dips below 123.00 – Westpac
FXStreet (Edinburgh) - Strategist at Westpac Robert Rennie sees dips to sub-123.00 levels as buying opportunities.
Key Quotes
“We have stuck with a buy USD/JPY dips bias for a number of weeks now. We still see that as a story that will develop more fully through August/ September”.
“Likely weak Q2 GDP in Japan (August 17) and Fed lift-off (Sep 17) should be the catalysts for a reasonably significant move higher in USD/JPY”.
“Between now and then, use dips below 123 as an opportunity to buy”.
July 30,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 

Eurozone core inflation ticks higher in July
FXStreet (Mumbai) - The preliminary data released by Eurostat on Friday showed the inflation as measured by the consumer price index (CPI) stayed unchanged at 0.2%, but core inflation ticked higher to 0.9% from 0.8% in June.
While prices have risen for the past three months, inflation remains well below the ECB’s goal of just under 2%. The International Monetary Fund (IMF) earlier this week said low inflation was a risk to the Eurozone economy and added that the ECB shall have to extend its QE program beyond September 2016.
As per the ECB forecasts, inflation is expected to remain low in the short run before it picks up and rises to 1.5% in 2016. However, lower energy prices pose a major downside risk to the ECB’s inflation target.
July 31,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

US Dollar drops to lows near 97.30
FXStreet (Edinburgh) - The greenback, tracked by the US Dollar Index, is surrendering part of the recent strong gains and testing session lows near 97.30 on Friday.
US Dollar remains above 97.00
After three consecutive sessions with gains, the dollar is now shedding part of the recent spike to the boundaries of 97.80 and navigating the lower end of the daily range in the 97.35/30 band, all amidst some profit-taking amongst investors and the usual month-end adjustment.
Next of relevance for USD will be the ECI (Employment Cost Index), expected at 0.6% during the second quarter, ahead of the final figures for the Consumer Sentiment tracked by the Reuters/Michigan index, seen at 94.0.
US Dollar relevant levels
As of writing the index is down 0.21% at 97.35 with the next support at 97.26 (low Jul.31) followed by 96.29 (low Jul.27) and then 96.26 (low Jul.14). On the other hand, a breakout of 97.97 (high Jul.17) would aim for 98.16 (high Jul.20) and finally 98.46 (high Apr.21).
July 31,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

Russian central bank cuts interest rate by 0.5%
FXStreet (Mumbai) - The Bank of Russia announced a cut in the key interest rate by 0.5% to 11.00% per annum in response to major macroeconomic indicators demonstrate further economy cooling.
According to the central bank, “the balance of risks shifts towards the considerable economy cooling despite a slight increase in inflation risks. According to the Bank of Russia forecast, consumer price growth will continue to slow amid slack domestic demand. Annual inflation will fall below 7% in July 2016 and reach the 4% target in 2017. The Bank of Russia will further decide on its key rate depending on the balance of inflation risks and risks of economy cooling.”
The bank added, “the economic situation in Russia will further depend on the dynamics of world energy prices and the economy’s ability to adapt to external shocks. At the same time the scenario with oil prices remaining below US$60 per barrel for a long time is more probable than it was in June.”
The decision comes at a time when Crude prices are on the way to its fifth consecutive weekly loss.
July 31,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

I feel extremely pleased with OctaFX broker since there are very few companies who think as much as they do, I am surprised that there is no extra charges for this service, I have seen worst stuff having fees yet this is absolutely classic yet no charges is just unbelievable and I don’t think anyone will disagree to pay fees for such high class service.

I am lucky that I got outstanding broker like this, so I can get the results working into favor consistently without having to make much of effort and that’s all to do with this sensational news and analysis that too on almost every single pair that one wants to work in with range that goes up to 50!

Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 

EUR/USD stays near lows after US data
FXStreet (Córdoba) - EUR/USD continues to trade at daily lows, having erased almost completely Friday’s gains, barely affected by the release of US consumer spending data.
US personal spending rises 0.2% in June
US Personal spending rose 0.2% in June, posting the smallest gain since February and matching expectations, while personal income rose 0.4% in the same month, slightly above the 0.3% rise expected.
Meanwhile, consumer inflation measured by PCE price index, the Fed’s preferred inflation gauge, rose 0.2% in June and 0.3% YoY, while excluding volatile food and energy categories, PCE price index rose 0.1% MoM and 1.3% YoY.
EUR/USD edged slightly up but remained overall unchanged trading near lows at the 1.0950 area, down 0.3% on the day. The pair reached a high of 1.113 Friday’s NY session following disappointing US wage data, but failed to hold and retraced most gains.
EUR/USD levels to watch
As for technical levels, EUR/USD could find next resistances at 1.0995 (Aug 3 high/100-hour SMA), 1.1023 (100-day SMA) and 1.1113 (Jul 31 high). On the other hand, supports are seen at 1.0940 (Aug 3 low), 1.0920 (Jul 31 low) and 1.0893 (Jul 30 low).
Aug 03,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

Gold drops after US consumer spending report
FXStreet (Mumbai) - Gold prices dropped into losses on Monday after the data in the US showed personal spending rose at a lower pace in June.
Stuck near 5-1/2 year lows
The metal is struggling near 5-1/2 year lows as markets believe the Fed is on track to raise interest rates in September. The official data released today showed personal spending growth slowed to 0.2% in June. The report also included downward revisions to the previous month’s personal spending and income figures.
Still, the Treasury yields have remained more or less unchanged, indicating the slightly dismal data has not had any effect on the rate hike bets in the US. Moreover, the personal spending has ticked higher in Q2, compared to the slowdown seen in Q1.
The metal currently trades 0.48% lower at USD 1089/Oz. Ahead in the day, the prices could be influenced by the US ISM manufacturing index and the sentiment on the Wall Street.
Gold Technical Levels
The immediate resistance is located at 1100, above which the metal could target 1104.90 (July 27 high). On the flip side, support is seen at 1088 (July 27 low) and 1073.70 (July 24 low).
Aug 03,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

AUD/USD bounces off lows after ISM manufacturing index
FXStreet (Córdoba) - AUD/USD bounced from lows and trimmed intraday losses as the greenback receded across the board following US ISM leaked numbers, which came in below expectations.
US ISM manufacturing PMI disappoints
The Institute for Supply Management’s manufacturing PMI fell to 52.7 from a June reading of 53.5 and below the consensus estimate of 53.5. Meanwhile, the Markit manufacturing PMI for July came in at 53.8, matching expectations.
The US dollar weakened slightly with AUD/USD recovering from a low of 0.7762 to the 0.7290 area before finding resistance. At time of writing, the pair is trading at 0.7280, recording a 0.34% loss on the day.
AUD/USD vulnerable ahead of RBA decision
AUD/USD still trades close to its 6-year low scored on Friday at 0.7234, with the Aussie vulnerable amid low commodity prices and weak Chinese data. The Reserve Bank of Australia will decide on monetary policy on Tuesday, but the bank is expected to maintain key rate unchanged at 2.0%.
AUD/USD levels to watch
As for technical levels, immediate supports seen at 0.7234 (6-year low Jul 31), 0.7200 (psychological level) and not much until the 0.7100/05 area (psychological level/Apr 24 2009 low). On the other hand, resistances could be found at 0.7317/22 (10-day SMA/Jul 30, Aug 3 highs) and 0.7365 (Jul 31 high).
Aug 03,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 

Expect further easing by the CBR – Danske Bank
FXStreet (Edinburgh) - Strategist Vladimir Miklashevsky at Danske Bank assessed the recent decision by the CBR to cut rates by 50 bp.
Key Quotes
“The main reasons given by the central bank for the cut were “the considerable cooling of the economy despite a slight increase in inflation risks”.
“This reinforces the direction and credibility of monetary policy following the CBR’s U-turn in early 2015 as the economy started to shrink. The CBR reiterated its CPI forecast for June 2016, stating that annual inflation will fall under 7% and reach the 4% target in 2017”.
“The statement after the decision again sounded dovish and the CBR emphasized the importance of economic growth in monetary decision making”.
“As we expected, this week the CBR stopped its FX purchases once USD/RUB reached 60.00. The rouble strengthened after the halt in purchases then fell after the cut in the key rate to 61.00 against the USD”.
“We expect the rouble to weaken moderately in the long run, pricing gradual further rate cuts. We expect fair value to stay around 65.00-68.00 against the USD given the current oil price”.
“We expect the CBR to renew its FX purchases to replenish reserve funds if the oil price rebounds and USD/RUB dives under 60.00”.
Aug 04,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

NZD/USD swings back above 0.6600
FXStreet (Mumbai) - The NZD/USD pair halted a five-day decline and swung back higher into the green zone in the European session, with the Kiwi mainly tracking gains from its OZ counterpart after the Reserve Bank of Australia (RBA) left its key rate unchanged while altering its exchange rate view.
NZD/USD extends gains from 0.6553
Currently, the NZD/USD pair trades -0.65% higher at fresh session highs of 0.6611, finally conquering 0.66 handle ahead of US open. The NZD/USD pair extends its recovery after the recent weakness as the New Zealand dollar piggy-backed the rebound seen in the Aussie, which lifted commodities currencies across the board.
The AUD/USD pair accelerated to near two-week highs after the RBA statement showed that the central bank was more satisfied with the AUD's current value. Moreover, recovery in gold and oil prices also supported the upbeat momentum in the Kiwi pair.
Meanwhile, US factory orders and Fonterra’s fortnightly dairy prices auction from New Zealand are expected to remain that main highlights in the New York session. The GDT index price dropped by 10% last fortnight, it was the ninth consecutive fall in prices and came in worse than estimates.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.6644 (July 27 High) levels and above which it could extend gains 0.6683 (July 31 High). To the downside immediate support might be located at 0.6556 (July 27 Low) below that at 0.6503 (July 20 Low) levels.
Aug 04,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

Fed, BOE rate hikes pose no risk to financial markets - BOJ's Iwata
FXStreet (Mumbai) - Speaking at the Upper House Financial Affairs Committee earlier today, Bank of Japan (BOJ) Deputy Governor Kikuo Iwata noted that increases in the borrowing costs of the US Federal Reserve and the Bank of England do not pose a risk to financial markets and the BOJ will not hike rates to prevent the yen from a steep fall.
He also said the BOJ is conducting simulations about how to end its ultra-loose monetary policy, including its purchase of exchange-traded funds, but he declined to provide any specific strategy for the time being.
Key Quotes:
"I don't see these moves as a risk."
"It could be fully priced in. In that case, there wouldn't be much reaction. Central banks conduct monetary policy for price stability, not for currencies."
Aug 04,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 






Greek FinMin says expects bailout talks to be completed in the next days





FXStreet (Córdoba) - Greek finance minister Euclid Tsakalotos said he expects talks with the country’s lenders about a third bailout would be completed in the next few days.


He said talks on privatization are going better than expected and there were no significant disagreements.


Quotes via Reuters:


“We have submitted a proposal to them. They said they would examine it and come back to us.

There were small divergences in views. I don’t think there will be a problem. Discussions have gone better than I expected”.





Aug 04,2015

OctaFX.Com News Updates





Trade with OctaFX - the Most Reliable Forex broker!

oie_EgQvfWMuiI6O_zps5c35ec25.gif


octafx_reg.png

 

 


Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 

GBP/JPY buoyed ahead of “Super Thursday”
FXStreet (Mumbai) - The bid tone on the GBP recovered once again after, pushing the GBP/JPY back above 194.00 levels ahead of important data events due in the next session, which is being labelled as Super Thursday.
Focus on UK Quarterly Inflation Report (QIR)
The UK data/event calendar on Super Thursday includes BOE rate decision. Minutes, Quarterly Inflation Report (QIR) – which will be followed by the press conference. However, the market seems focused on the QIR and Carney’s comments, which could offer clues regarding the timing of the interest rate hike in the US.
Ahead of the key UK events tomorrow, the cross could be influenced by the US ADP employment report and ISM figure due for release today.
GBP/JPY Technical Levels
The immediate resistance is located at 194.61 (July 30 high), followed by a major hurdle at 195.88 (June 24 high). On the other hand, support is seen at 193.22 (daily low) and 192.37 (50-DMA).
Aug 05,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

EUR/USD pares losses, recovers to 1.0875
FXStreet (Mumbai) - The single currency sees modest recovery from fresh session lows versus the US dollar in the mid-European session, with EUR/USD still keeping the red below 1.09 handle. The major struggles to recover losses completely as Fed Lockhart’s rate lift-off comments continue to keep the European currency undermined amid the latest chatter surrounding Greece.
EUR/USD rises from 1.0849 lows
The EUR/USD pair trades -0.10% lower at 1.0870, striving for 1.09 handle. The EUR/USD pair maintains the offered tone, although erased more than half its slide, as the traders continue to favour the US currency ahead of a series of US fundamentals to be published later today.
Moreover, the euro remained largely subdued and continued to trade in a tight range on ignoring the upbeat services PMI readings from across the currency bloc and remaining under pressure on the back of a stronger USD.
Meanwhile, markets now turn their attention towards US macro updates due later in the New York session as the session ahead is likely to bring more incentives for the pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0885 (Today’s High) levels, above which gains could be extended to 1.0908 (July 17 High) levels. On the flip side, support is seen at 1.0810 (July 21 Low) below which it could extend losses to 1.0712 (March levels).
Aug 05,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

ADP Reaction: GBP/USD tests 1.5650 resistances after weak data
FXStreet (New York) - The British Pound is extending its rally from 1.5525 against the US Dollar following the weak ADP employment report that showed a lower than expected number in July. GBP/USD is now testing the 1.56.50 area.
Ugly ADP report with 185K new private payrolls in July, well below the 215K expected by market. In addition, June data was revised 8K down from 237K to 229K. The dollar got a hit.
Currently, GBP/USD is trading at 1.5644, up 0.53% on the day, having posted a daily high at 1.5653 and low at 1.5526. GBP/USD spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
GBP/USD levels
If the pair breaks above 1.5600, it will find next resistances at 1.5675 and 1.5690. To the downside, supports are at 1.5620, 1.5600 and 1.5570.
Aug 05,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 

USD/JPY rallies to 2-month highs
FXStreet (Córdoba) - USD/JPY took a violent turn and pushed to fresh 2-month highs with no clear catalysts behind the move, after testing daily lows weighed by disappointing ADP employment report.
USD/JPY bottomed out at 124.00 as the knee-jerk reaction to private payrolls data but bounced sharply, overshooting previous highs. The pair picked up momentum following above-expectations July ISM services PMI for US (60.3 vs 56.2 exp) and climbed to a high of 124.86, last seen on Jun 8.
At time of writing, the pair is trading at 124.60, recording a 0.19% gain on the day, the third in a row as investors gear up for the US government nonfarm payrolls report on Friday.
USD/JPY levels to watch
As for technical levels, USD/JPY could find next resistances at 125.00 (psychological level) and 125.67 (Jun 8 high). On the flip side, supports are seen at 124.00 (psychological level/Aug 5 low), 123.79 (Aug 4 low) and the 123.55/51 area (50-day SMA/Jul 31 low).
Aug 05,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

US ISM non-manufacturing index at decade high in July
FXStreet (Mumbai) - The service sector in the US economy expanded at a fastest rate in a decade with a sharp rise in employment, strengthening rate hike bets in the US.
The Institute for Supply Management’s (ISM) non-manufacturing index to 60.3, the best reading since August 2005 and well above the June’s 56.00 reading. All major components of the gauge, including orders and employment ticked higher.
He details of the report reveal the employment gauge jumped to 59.6 from 52.7, the biggest one-month advance since records began in July 1997. The new orders measure rose to 63.8 from 58.3. Both measures were the highest since August 2005.
2-year yield rises again
The two-year yield, which mimics rate hike expectations, has ticked higher by almost three basis points to 0.756%. The yield had dropped into losses earlier today after the ADP report showed the private sector job additions in July slowed down considerably.
Aug 05,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

EUR/USD revisits lows after ISM data
FXStreet (Córdoba) - EUR/USD came under pressure and fell to retest daily lows as the dollar pick up momentum following stronger-than-expected ISM services and composite PMIs.
EUR/USD pulled back from a high of 1.0932 scored on the back of disappointing ADP employment data but gains were offset by solid ISM figures. EUR/USD fell to 1.0849 but managed to hold barely above previous daily lows. At time of writing, the pair is trading at 1.0865, 0.13% below its opening price.
EUR/USD technical levels
As for technical levels, next supports are seen at 1.0847 (Aug 5 low), 1.0808 (Jul 20 low) and 1.0800 (psychological level). On the flip side, resistances could be found at 1.0932 (Aug 5 high), 1.0987 (Aug 4 high) and then 1.1025 (100-day SMA).
Aug 05,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 

GBP/USD robust ahead of BoE - Scotiabank
FXStreet (Guatemala) - Eric Theoret, CFA, CMT, Currency Strategist at Scotiabank explained that GBP/USD was rising off support at the 50 day MA (1.5563), its momentum indicators hinting to a modestly bullish bias. Trend indicators are muted, and we await a break of the recent three-week range between 1.5467 and 1.5690.
Key Quotes:
"GBP is rising modestly vs. the USD and outperforming all of the G10 despite softer domestic PMI data, with strength driven by flows out of Europe as market participants look to relative policy ahead of Thursday’s BoE events—including the policy decision, concurrent release of minutes as well as the quarterly Inflation Report.
The Bank Rate is widely expected to remain on hold at 0.5%, with focus centered on MPC members’ voting as well as the assessment of ‘inflation probabilities’ in light of recent concerns about the disinflationary impact of exchange rate strength."
Aug 05,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

GBP/USD robust ahead of BoE - Scotiabank
FXStreet (Guatemala) - Eric Theoret, CFA, CMT, Currency Strategist at Scotiabank explained that GBP/USD was rising off support at the 50 day MA (1.5563), its momentum indicators hinting to a modestly bullish bias. Trend indicators are muted, and we await a break of the recent three-week range between 1.5467 and 1.5690.
Key Quotes:
"GBP is rising modestly vs. the USD and outperforming all of the G10 despite softer domestic PMI data, with strength driven by flows out of Europe as market participants look to relative policy ahead of Thursday’s BoE events—including the policy decision, concurrent release of minutes as well as the quarterly Inflation Report.
The Bank Rate is widely expected to remain on hold at 0.5%, with focus centered on MPC members’ voting as well as the assessment of ‘inflation probabilities’ in light of recent concerns about the disinflationary impact of exchange rate strength."
Aug 05,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

EUR/JPY: 0.7186 downtrend in tact - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained the technical conditions surrounding EUR/GBP.
Key Quotes:
"EUR/GBP has failed at the 55-day ma at 0.7127, and the 0.7186 2015 downtrend, and is back under pressure. The market has recently sold off to the base of a 6-year down channel and it is possible that this 0.6937/67 zone will again hold. This is key support – it will act as the break down point to the 0.6571/41 the 2007 low.
Downtrend at 0.7186
A longer term negative bias is entrenched below the 2015 downtrend, this is located at 0.7186."
Aug 05,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 

Euro Stoxx 600 pushed lower by weakness in energy and mining shares
FXStreet (Mumbai) - The Euro Stoxx 600 retreated on Monday due to the losses in the energy and mining shares, while investors await latest cues regarding the timing of the first rate hike in the UK.
The index is down 0.3%, after rising 1.3% on Wednesday. The energy shares came under renewed selling pressure tracking the drop in the oil prices.
Danish biotechnology company Novozymes; down 11.52% on the pan-European index after cutting its sales growth forecast. Shares in Deutsche post and Zurich Insurance Group also suffered more than 2% losses due to weak results.
Weaker oil prices pushed shares in Tullow Oil lower by 5.43%. Mining firms like Anglo American, Antofagasta also suffered losses. Meanwhile, Shares in National Bank of Greece rose 23%, the top performer so far, after falling by the same margin on Wednesday.
Among regional indices, France’s CAC 40 index was down 0.1% and the UK FTSE 100 index was 0.2% lower. Germany’s DAX index rose 0.1% after data showed an increase in German factory orders in June.
Aug 06,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

BOE MPC leaves interest rates unchanged
FXStreet (Mumbai) - The Bank of England (BOE) Monetary Policy Committee (MPC) on Thursday voted to maintain Bank Rate at 0.5% as expected.
The Committee also voted to maintain the stock of the purchased assets financed by the issuance of central bank reserves at GBP 375 billion. The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.5% on 5 March 2009.
Aug 06,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

BOE MPC vote split – 8:1 – for the first time in 2015
FXStreet (Mumbai) - The Bank of England (BOE) latest monetary policy minutes released on Friday showed monetary policy committee is divided for the first time this year over whether to raise interest rates from their historic low of 0.5%.
According to minutes, only one member - Ian McCafferty - voted in favour of a rate rise. Prior to the minutes' release, markets were expecting a 7-2 split. The last time the split in voting was seen in December 2014 when both Mr McCafferty and Martin Weale voted in favour of a 25 basis points increase.
Aug 06,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 

Dollar strength remains well and sound – Societe Generale
FXStreet (Edinburgh) - Kit Juckes, Strategist at Societe Generale, reiterates its bullish view on the dollar following recent Non-farm Payrolls in the US economy.
Key Quotes
“Friday’s US labour market report has left the market in stalemate but we remain bullish of the dollar, and like longs in USD/CAD, shorts in NZD/USD and shorts in EUR/GBP”.
“US employment growth slowed slightly, but at 2.1% is robust. Wage growth came in at 2.1% too, though the non-supervisory measure slowed to 1.8%”.
“The unemployment rate stayed at 5.3%, though if you add another decimal place, it’s edging lower”.
“The market reaction was for 2yr yields to rise by about 2bp, while 10yr yields have fallen by 4bp. The 2yr swap rate that drives my baby FX models tried and failed to break 1%and is currently at 99bp”.
Aug 10,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

Buy the dips towards 123.20 in USD/JPY – BBH
FXStreet (Edinburgh) - The research team at BBH sees buyers of the pair lining up in the area of 123.20.
Key Quotes
“The dollar made a new marginal high of almost JPY125.10”.
“However, there was momentum, and despite the constructive US employment data, the yield on the 10-year Treasury slipped”.
“Despite a number of attempts since early June, has only managed to close above JPY125 once. That proved to be a near-term top”.
“The dollar's technical condition deteriorated with the reversal after the US employment report. Initial support is seen near JPY 124.00, which also corresponds to the 20-day moving average. Look for better dollar buyers on a move toward JPY123.20”.
Aug 10,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

EUR/USD weaker, testing 1.0940
FXStreet (Edinburgh) - The single currency is now losing the grip vs. the dollar, dragging EUR/USD to daily lows in the 1.0940 area.
EUR/USD gains limited around 1.0980
The pair remains trading in a choppy mood at the beginning of the week, with gains appearing to be limited by recent tops in the 1.0980/85 band. Spot is losing upside momentum against a backdrop of scarce data releases in both Euroland and the US economy while market participants keep digesting the recent results from the US labour market.
Investor’s Confidence tracked by the Sentix Index and the US Labour Market Conditions Index are due later, ahead of the speeches by Fed’s Fischer and Lockhart.
EUR/USD relevant levels
As of writing the pair is retreating 0.23% at 1.0940 and a breach of 1.0855 (low Aug.7) would open the door to 1.0848 (low Aug.5) and then 1.0811 (low Jul.11). On the other hand, the next resistance lines up at 1.0990 (high Aug.4) ahead of the psychological level at 1.1000 and finally 1.1080 (high Jul.29).
Aug 10,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

octafx_newsupdates-1_zps8241bbb2.png

 

 

NZD, AUD risk further downside vs. USD – TDS
FXStreet (Edinburgh) - Strategists at TD Securities reiterated their bearish view on the Antipodean currencies against the greenback.
Key Quotes
“Overall while we note our end-Q3 forecasts for AUDUSD (0.74) and NZDUSD (0.66) are rather close to current levels, the near-term risks remain on the downside”.
“This is due, however, to broader trends in currency markets rather than the recent actions of the PBOC”.
“As commodity prices remain under downward pressure, our expectations for a September rate hike from the Federal Reserve is likely to remain the single dominant factor, we think, in FX markets in coming weeks”.
Aug 11,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

EUR/CHF in fresh highs near 1.0870
FXStreet (Edinburgh) - The Swiss franc continues to depreciate vs. the single currency on Tuesday, lifting EUR/CHF to the area of 1.0870.
EUR/CHF in multi-month tops
The cross is trading in the highest level since the SNB has abandoned the peg in mid-January, advancing towards the upper-1.0800s following increasing outflows from the safe haven CHF.
The (kind of) solution in the Greek front following the agreement between the country and its creditors last month coupled with today’s pre-deal on a third bailout package has allayed fears amongst investors regarding a ‘Grexit’ scenario, favouring further positioning in the euro.
EUR/CHF relevant levels
As of writing the cross is up 0.24% at 1.0864 facing the next resistance at 1.09 and 1.10 (both psychological levels). On the flip side, a breach of 1.0760 (low Aug.10) would open the door to 1.0709 (low Aug.7) and finally 1.0676 (low Aug.6).
Aug 11,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 


octafx_newsupdates-1_zps8241bbb2.png

 

 

EUR/USD falters ahead of 1.1100
FXStreet (Córdoba) - The euro reached a fresh August high against the dollar on Tuesday after Greece and its creditors reached a bailout deal, but faltered ahead of the 1.11 mark.
EUR/USD reached its highest level since Jul 31 at 1.1087, but failed to stay at highs and pulled back to the 1.1030 zone. At time of writing, EUR/USD is trading at 1.1048, still up 0.27% on the day.
Greece and international lenders struck a third bailout deal on Tuesday and the Eurogroup will reportedly meet on Friday to approve the agreement.
EUR/USD technical levels
As for technical levels, next resistances are seen at 1.1087 (Aug 11 high), 1.1093 (50-day SMA) and 1.1113 (Jul 31 high). On the other hand, supports could be found at 1.1032 (100-day SMA), 1.1000 (psychological level) and 1.0960 (Aug 11 low).
Aug 11,2015
OctaFX.Com News Updates
Trade with OctaFX - the Most Reliable Forex broker!
oie_EgQvfWMuiI6O_zps5c35ec25.gif
octafx_reg.png

 

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • 👍 Join TopGold.Forum Now

    We Connect  Money Makers With TOP Earning Opportunities!

    Join over 25,000 members and 700 businesses on their journey to strike GOLD. 💰🍾👍

    👩 Want to make money online? 
    💼 Represent a company? 

⤴️-Paid Ad- TGF approve this banner. Add your banner here.🔥

×
×
  • Create New...