OctaFX_Farid Posted September 3, 2013 Author Report Share Posted September 3, 2013 US: Markit manufacturing PMI at 53.1 in August FXstreet.com (Edinburgh) -The US manufacturing PMI sponsored by Markit dropped to 53.1 during August from 53.7 in the previous month. The release also missed the median at 54.0. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 03,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 3, 2013 Author Report Share Posted September 3, 2013 GBP/USD testing support 1.5535 FXstreet.com (London) - GBP/USD had been well supported in Europe with the UK construction PMI surprising to the upside. This data reinforced the trend of strong UK releases lately. The BoE on Thursday is going to b main UK event for the week, where there is still the risk that the Bank attempts to push back on market expectations for the timing of an eventual rate hike. Then the US payrolls will be in focus and will be make or break for September tapering, according to Cristian Maggio, Senior Emerging Markets Strategist, Rates and FX Research at TD Securities. “…with 100k being the key threshold.” GBP/USD eyes June highs Karen Jones, chief strategist at Commerzbank said that GBP/USD is attempting to hold over the 1.5460 2 month up channel. “Intraday rebounds are expected to struggle circa 1.5605 (April high). While capped here the market remains directly offered and the uptrend at 1.5460 exposed. Above 1.5605 will force us to the sidelines as this will suggest a retest of the 1.5716/52 – the recent high and the high made in June”. The 20 DMA is 1.5544, the 50 DMA is 1.5543 and the 200 DMA is 1.5504. RSI (14) reads 42.18. Supports are ascending from 1.5373, 1.5427, 1.545,8 1.5507. Spot is 1.5535 while resistances are 1.5607, 1.5612, 1.5638 and 1.5677. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 03,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 4, 2013 Author Report Share Posted September 4, 2013 EUR/USD eyes 1.3220 as recovery intensifies FXstreet.com (Edinburgh) -The bid tone continues to prop up the upside of the shared currency on Wednesday, pushing the EUR/USD to challenge the region around 1.3220. EUR/USD rebounds sharply The pair bounced markedly from the area of 1.3170 to print fresh intraday highs in the boundaries of 1.3220 as the USD surrenders recent gains and the sentiment favouring riskier assets is quickly spreading across the markets. “The recent selloff in EUR/USD has stabilized overnight after reaching support provided by the 100-, and 200-day moving averages late yesterday (currently 1.3135/45). Upward EZ PMI revisions added to the recent positive data trend in the region, although all eyes are on the ECB tomorrow. Our bias is for higher yields in aftermath which could help lift EUR/USD, at least on a short term basis. More broadly we remain bearish on the pair however”, suggested S.Osborne and G.Moore, FX Strategists at TD Securities. EUR/USD support/resistance levels As of writing the pair is gaining 0.29% at 1.3209 and a surpass of 1.3219 (low Aug.29) would target 1.3237 (high Sep.2) en route to 1.3255 (high Aug.30). On the flip side, the initial support aligns at 1.3157 (low Sep.4) followed by 1.3145 (MA200d) and finally 1.3138 (low Sep.3). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 04,2013 OctaFX.Com News Updates EUR/JPY on meteoric rise for 10-day highs at 131.84 FXstreet.com (Chicago) - EUR/JPY extends bullish momentum after the completion of an upward flag. The pair broke through 131.50 resistance zone to spike and target 132.00 zone in the afternoon of the American trading session. European data Earlier in Europe, the region’s GDP results matched 0.3% expectations (QoQ). Annual GDP was -0.5% vs. prior -1.1% and estimates at -0.7%. Retail sales failed to meet estimates with monthly results at 0.1% vs. 0.4% projections and prior -0.7% (MoM). Yearly results were -1.3% vs. estimates at -0.4%. Despite results, the euro maintained 0.52% gains to eventually be pushed up by bullish pressure. In Japan, the yen weakened after the cooling down of the Syrian conflict (less risk-averse behavior) along the announcement that the sales tax hike will be determined within one month and not until Spring 2014 as planned. Markets closed with gains in both regions with the FTSE 100 up 0.10%, the DAX up 0.19% and the CAC 40 up 0.16%. The Nikkei 225 registered 0.54% gains. EUR/JPY Technical Levels Technically speaking, the pair rose after the completion of a flag that originated last September 1st around 130.00 zone. After trading sideways for a few hours, the pair handled to break through strong resistance. At 131.77, the pair oscillates between supports at 131.52 (August 4th highs), 131.14 (August 20th highs) ahead of 130.73 (September 2nd lows) and resistances at 131.93 (August 24th highs), 132.33 (August 22nd highs) followed by 132.72 (July 23rd highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe and is offered above the EMA20. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 04,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 5, 2013 Author Report Share Posted September 5, 2013 Flash: USD/JPY pointed higher – TD Securities FXstreet.com (Lisbon) - The USD/JPY has whipsawed overnight in the aftermath of the BoJ statement where they offered a modestly improved outlook on the Japanese economy, notes the TD Securities Team. Key quotes “The USD/JPY refused to stabilize even with the much talked about sales tax increase planned by the Abe government. There was nothing unexpected from the BoJ meeting which leaves USD/JPY and the other JPY crosses at the whim of other global events for now (ECB and US jobs numbers in particular).” “Overall, the balance of risks suggest the prevailing trend lower in the JPY should extend in the short-term.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 05,2013 OctaFX.Com News Updates US: Factory Orders drop by 2.4% in July FXstreet.com (Barcelona) - US Factory Orders fell 2.4% in July, compared with the the 1.6% rise in June, the US Census Bureau reported today. Market consensus pointed to a steeper decline of 3.3%. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 05,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 5, 2013 Author Report Share Posted September 5, 2013 USD/JPY climbs back above 100.00 FXstreet.com (Córdoba) - The USD/JPY extended gains above the 100.00 hurdle Thursday and printed a fresh 6-week high in a day loaded of data. USD/JPY hits fresh 6-week high With US 10-year yields reaching the highest since July 2011, USD/JPY stretched to a peak of 100.17 after the ISM services PMI came in stronger than expected for August, which gave the greenback another boost across the board. At time of writing, USD/JPY is trading around 100.10, 0.4% above its opening price. USD/JPY maintains the positive tone From a technical perspective, the USD/JPY maintains the positive tone, says Valeria Bednarik, chief analyst at FXstreet.com. However, the analyst notes that range trading is likely to persist until next Friday’s US employment figures. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 05,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 6, 2013 Author Report Share Posted September 6, 2013 US: Nonfarm payrolls up 169K in August FXstreet.com (Barcelona) - US NFP grew by 169K in August, following the July increase revised down to 104K, according to data released today by the US Department of Labor. This result is below market consensus of 180K. The Unemployment Rate dropped to 7.3% from 7.4%, against forecasts of remaining unchanged. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 06,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 6, 2013 Author Report Share Posted September 6, 2013 Gold prices approach 1400 on weak NFP, Russian bravado in Syria FXstreet.com (Lisbon) - Precious metals continued finally experienced a move higher Friday, after back-to-back days of weakness. Gold targets jump over 1400 Gold prices surged Friday, helping alleviate a multi-day easing that has since relinquished the recent rally in the yellow metal. With the sour results of NFP in the US, gold price look to target 1400.00, a break of which could lead to 1417.00 and 1433.00. At the time of writing, gold prices are trading at USD $1386.92 per oz. Friday. Silver eyes downside Silver remained under pressure Friday, helped only by the recent advent of weak US data, given the approach of the 23.05 support level earlier today. Despite the rise, this region remains in focus, a break below this support should clear the way for further downside. The bearish scenario remains favored, so long as below 23.60-23.65, a break back above 23.65 will reverse the bias to bullish. The price of silver has now moved to USD $23.81 per oz. during US trading. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 06,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 9, 2013 Author Report Share Posted September 9, 2013 USD/CHF heads downwards as hedge funds bid in risk FXstreet.com (Athens)- The USD/CHF is under heavy pressure due to the fact that risk-appetite is back “on” and EUR/USD..trades significantly higher. The USD/CHF under pressure amidst Fed taper bets and EUR/USD uptrend behavior It is taken for granted that the Fed will proceed in September with a gradual cutback of asset purchases (as otherwise might be problematic from a credibility perspective given Fed officials’ considerable efforts “communicate” tapering the recent months). However, we still do not know on what is likely to happen thereafter. Investors should be aware if the Fed’s president in San Franscisco Williams adopts a dovish or hawkish stance in his speech, as his comments amount to the last bit of “fed-speak” before Fed officials proceed with the final decision. Technical Outlook on USD/CHF Traders should never forget that there is a highly strong and negative correlation between the USD/CHF and the EUR/USD. Thus, since EUR/USD moved abruptly above 1.3200, the USD/CHF came under heavily pressure almost instantly. Thus, investors can take advantage of the two pair correlation, independently on what cross are interested in. At the time of writing, the pair is trading at 0.9339, down 0.40%. The FXstreet.com Trend Index shows the pair to be slightly bearish and extremely oversold in the 15 minutes framework. Daily pivot point support can be found at S3: 0.9307 S2: 0.9284 S1:0.9260 and resistance at R1:0.9417 R2:0.9441 R3:0.9464, respectively. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 09,2013 OctaFX.Com News Updates EUR/USD bullish testing 1.3220 resistance FXstreet.com (London) - EUR/USD had regained its positioning back in the 1.3200 handle, continuing on from Friday’s move to 1.3180 after the disappointing US jobs data. EUR/USD opened on the bid and has continued through the figure exceeding September highs. The pair may find some resistance here meeting the May top on a quiet calendar. On Wednesday we will see CPI data for Germany. Then we have some jobless claims data for the US later in the week and Friday will bring Michigan Consumer Sentiment. EUR/USD RSI above 70 The 20 DMA is 1.3282, the 50 DMA is 1.3203 and the 200 DAM is 1.3148. RSI (14) reads 77.55 and signals a consolidation period. Supports are ascending from 1.3051, 1.3126, 1.313,9 1.3154, 1.3171, and 1.3189. Spot is 1.3219 and resistances are 1.3225, 1.3237 and 1.3255. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 09,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 11, 2013 Author Report Share Posted September 11, 2013 Flash: Equities notch impressive rally after Syria abates – Deutsche Bank FXstreet.com (Lisbon) - Markets have continued with their impressive run and we've now seen 7 full business days in September and global equities have been higher for all of them and the S&P500 has not seen a down day since the last business day of August, notes Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank. Key quotes “A combination of falling crude prices (down 4% since Friday), a potential back down in the threat of a US military strike in Syria and yesterday’s firmer Chinese industrial production data combined to give the S&P500 (+0.73%) its longest winning streak since July.” “In a prime time televised speech, Obama reiterated his moral arguments for action in Syria but said that he was willing to give diplomacy a chance to run its course. S&P500 futures responded positively to the President’s comments.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 11,2013 OctaFX.Com News Updates Flash: EUR/USD primed for bearishness – TD Securities FXstreet.com (Lisbon) - German CPI data earlier was one of highlight Eurozone releases of the week, although an as-expected outcome and the bigger focus on Syrian developments left the EUR/USD in consolidation mode, notes the TD Securities Team. Key quotes “ECB Executive Board member Asmussen speaks again this afternoon (at 1:00PM ET) where he is likely to emphasize the downside case as he did yesterday. Echoing Draghi last week, Asmussen has reiterated that the ECB remains ready to act if conditions deteriorate.” “Such comments could weigh on the EUR/USD in an otherwise quiet day for data. Syrian headlines, are of course the other main concern for EUR/USD and the FX space as a whole today. Broadly speaking, we remain bearish on the pair and as we outlined in a note yesterday, we think these levels mark the sell zone.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 11,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 13, 2013 Author Report Share Posted September 13, 2013 USD/JPY crashes over 30 pips to erase daily gains FXstreet.com (Lisbon) - The USD/JPY foreign exchange rate took a tumble on the heels of US data Friday, by far its biggest movement of the day, crashing nearly over 30 pips in recent minutes. In the United States, Retail Sales (MoM) grew only +0.2% in August, missing expectations of +0.4%. In addition, the Producer Price Index (YoY) has climbed +1.4% in August, beating estimates of only +1.3%. USD/JPY technical levels In these moments, the USD/JPY is now trading at 99.42, now incurring a loss of -0.11% off its opening. Given the present exchange, the USD/JPY will is offered support at 99.31, ahead of 99.11, and 98.95, notes the Danske Research Team. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 13,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 16, 2013 Author Report Share Posted September 16, 2013 US sells $30 bn in 3-month bills at 0.010% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 16,2013 OctaFX.Com News Updates USD/NZD looking toppy; highs 0.8230 FXstreet.com (London) - The NZD/USD reached a high of 0.8230 on a broad based dollar sell off, breaching into the 0.8200 handle but has since ducked into 0.8180 territory again. The Hawk, Larry Summers’, withdrawal from being considered as the next Fed Chairman and the possibility that the Dove, Janet Yellen, may be the person for the job has lead to the dollar dropping significantly towards significant levels in dollar crosses. Markets are expecting a longer term in current accommodative policies. Meanwhile, this week will hold a number of key events with Fed Interest Rate Decision to CPI’s for the US. NZ sees Q2 GDP and Aug net migration. NZD and RBNZ risk With the pair remaining bid on the back of a hawkish stance from the RBNZ of late, research teams at Westpac said there are a couple of reasons at least for market participants to continue to expect opportunities. “A modest taper at the FOMC this week is fully priced, and given US data has been spotty lately, the risk is US interest rates (and in turn NZ rates) briefly correct lower. Investors could benefit tactically, while borrowers could benefit strategically by paying the dip”. USD/NZD levels The 20 DMA is .7915, the 50 DMA is .7931 and the 200 DMA is .8184. RSI (14) 51.45. Supports are ascending from .8074, .8095, .8125 and .8170. Spot is currently 0.8188 while resistances are coming in at .8198, .8256, .8273, .8302 and .8318. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 16,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 17, 2013 Author Report Share Posted September 17, 2013 US NAHB Housing Market Index stays unchanged at 58 in September Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 17,2013 OctaFX.Com News Updates EUR/USD under mild pressure FXstreet.com (Córdoba) - After failing to overcome the 1.3370 area, EUR/USD came under mild pressure and trimmed daily gains at the beginning of the American session, although it remains well within its recent range. EUR/USD remains capped by 1.3370 Even though EUR/USD was boosted by better-than-expected ZEW German data, the euphoria quickly faded. EUR/USD retreated to the 1.3340 area before finding support and it was last around 1.3350, still up 0.1% on the day. Neither US CPI nor the NAHB housing market index had much impact on the pair as investors refrain from taking big positions ahead of the conclusion of the 2-day Fed policy meeting. EUR/USD holds the bullish bias From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that the pair maintains the bullish bias, but adds that only strong accelerations above 1.3385 will expose the 1.3450 area. Bednarik locates next resistances at 1.3385, 1.3420 and 1.3450, while she sees supports at 1.3320, 1.3285 and 1.3240. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 17,2013 OctaFX.Com News Updates GBP/USD eyes 1.5880 support and lower FXstreet.com (London) - GBP/USD had jumped to 1.5965 from a gap in the charts on the open in markets this week but has since lost its form back below 1.5900 level. This has been a dollar weakness story so far with the Hawk, Larry Summers’, withdrawal from being considered as the next Fed Chairman and the possibility that the Dove, Janet Yellen, may in fact be the person for the job. Therefore, markets are expecting a longer term in current accommodative policies. The week ahead is jam packed with events that could either increase the appetite for 1.6000 in the pair or reduce risk back to support 1.5880/20 in the near term. GBP/USD levels Indicators suggest momentum has slowed down. The 20 DMA is 1.5645, the 50 DMA is 1.5452 and the 200 DMA is 1.5487. Supports are ascending from 1.5819, 1.5835, 1.5869 and 1.5885. Spot is currently 1.5906 while resistances are 1.5920, 1.5937, 1.5970, 1.5992, 1.6010, 1.6040 and 1.6080. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 17,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 18, 2013 Author Report Share Posted September 18, 2013 EUR/JPY oscillates around 132.00 FXstreet.com (Córdoba) - Despite the consolidative tone prevailing in financial markets, the Yen has managed to secure gains versus its major competitors, dragging EUR/JPY below the 132.00 mark Wednesday. However, the EUR/JPY managed to find buyers at the 131.85 zone and bounced, although with the recovery capped by the 100-hour SMA, the cross was confined to a phase of consolidation. At time of writing, EUR/JPY is trading around 132.00, where it records a 0.3% loss on the day (following 2 days of gains). EUR/JPY supports and resistances As for technical levels, next supports could be found at 131.85 (daily low) and 131.60 (Sep 16 low), while on the other hand resistances line up at 132.25 (100-hour SMA) and 132.60 (daily high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 18,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 19, 2013 Author Report Share Posted September 19, 2013 Canada: Wholesale Sales rose 1.5% in July FXstreet.com (Edinburgh) -Canadian Wholesale Sales rose 1.5% on a monthly basis during July, surpassing forecasts at 1.0% and improving June’s 2.8% drop (revised). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 19,2013 OctaFX.Com News Updates Oil rises after Fed keeps its foot on the gas, inventories down FXstreet.com (London) - WTI has been driven to one-week highs on the back of yesterday’s announcement that the US Federal Reserve would not be going ahead with expected plans to taper its monthly asset purchases. This was combined with reports that US inventories had fallen faster than expected. News that the Federal Reserve would not be taking its foot off the gas with its ultra-loose monetary policy aimed at stimulating the economy of the US, the world’s largest oil consumer, rallied oil prices. WTI October contracts currently stand at USD107.70/barrel, having hit highs of USD108.99. November Brent prices currently stand at USD109.79/barrel, after hitting highs of USD111.26. The spread between US WTI contracts and European Brent has declined to USD2.27, a six-week low. According to data released by the Energy Information Administration, US crude inventories have slid to 355.6 million. The seasonally adjusted annual fall of 4.368m barrels was a sharp increase on -0.219m in the preceding month. Analysts had expected inventories to fall -1.394m. The squeeze on US supplies has tightened the WTI-Brent spread, which had preciously traded at a USD19 premium on Syrian tensions combined with US oversupply. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 19,2013 OctaFX.Com News Updates USD/JPY holding over key support FXstreet.com (London) - USD/JPY has taken out key resistance that now comes as support in 99.40 territory, with the pair currently sitting at 99.55 and looking comfortable. USD/JPY got a lift from better data from the US. The US reported initial jobless claims rose to 309K last week, beating expectations, while the current account deficit contracted to 98.89B in the Q2. USD/JPY Levels The 20 DMA is 98.97, the 50 DMA is 98.64 and the 200 DMA is 95.88. RSI (14) reads 72.00. Supports are ascending from 97.29, 97.45, 97.65, 97.76, 98.57, 98.79 and 99.12. Spot is 99.55. The pair eyes 100.00/60 for September highs. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 19,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 20, 2013 Author Report Share Posted September 20, 2013 Gold driven back down on Bullard comments, "taper bounce" fades FXstreet.com (London) - Gold has continued its decline today, pushed lower by hints from St Louis Fed chairman and FOMC voting member James Bullard that a small tapering of the Fed’s monthly asset purchases might be possible in October. The gold price had seen some recovery earlier in the week, when the news that the Fed would not be going ahead of the much-anticipated tapering of its monthly asset purchases pushed up prices. Gold currently stands at USD1338.30/oz, with potential for further downside. The yellow metal has lost its shine in recent months as investors seek yield as global macro data strengthens and volatility abates. It had been driven to historic record highs in September 2011 as a combination of European uncertainty, US debt ceiling deadlock and Middle Eastern tensions combined to make the perfect storm for haven flows into the safety of gold. Though the threat of US debt ceiling bickering is once again o the horizon, increasing global confidence is going to make any upside support for gold very unlikely. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 20,2013 OctaFX.Com News Updates AUD/USD sliding below pivot; just a consolidation above 94.00? FXstreet.com (London) - AUD/USD has lost its form in the dollars consolidation of losses and finds lows below the 94.00 handle. AUDUSD has printed a low of 0.9377 and has lost all of its gains in the same week as we come to a close for this week’s session. The pair has been subdued by EUR/AUD demand in European markets as the cross inched higher and markets are also looking towards shorting AUD/NZD as a favoured play which is weighing on the Aussie as well. The pair needs to hold onto the 94.00 handle if it is still to become a convincing long play. Otherwise, caution would set in on failures around here as the market keeps a close eye on data that would be influencing plans on timings for US tapering. AUD/USD Levels The 20 DMA is .9188, the 50 DMA is .9142 and the 200 DMA is .9864. RSI (14) reads 30.69. Supports are ascending from .9271 .9285 and .9330. Spot is currently .9396 while resistances are at .9439, .9503, .9530, .9574 and .9581. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 20,2013 OctaFX.Com News Updates Fitch cuts Croatia to Junk and Malta to A ratings FXstreet.com (San Francisco) - Fitch Ratings has downgraded Croatia sovereign debt to BB+ from BBB- according to a press release published by the agency. Fitch also cut Malta to 'A' from 'A+'. Both with stable outlook. According to Fitch, "Croatia's fiscal outlook has deteriorated since Fitch's previous sovereign rating review in November 2012. The agency has revised up its forecast for this year's general government deficit to 4.7% in 2013 from 3.9%, while general government debt/GDP is now expected to peak at 66% of GDP in 2016, up from our previous forecast of 62%." Croatian real GDP growth has significantly underperformed 'BBB' and 'BB' medians: "The economy has been mired in recession since 2009, contracting by a cumulative 11%, and unemployment far exceeds rating peers. Q213 national accounts suggest that the rate of contraction is declining, but Fitch now expects the economy to contract by a further 0.9% in 2013, in contrast to our previous expectation of growth of 0.3%." On the Malta decision, "there has been significant fiscal slippage," says Fitch. "Malta's general government deficit was 3.3% of GDP in 2012, well above both the government's target (2.2%) and Fitch's September 2012 forecast (2.6% of GDP). This slippage has carried over to 2013, when Fitch forecasts a deficit of 3.6% of GDP, compared with 2.7% in the original 2013 budget." "Public debt dynamics are worsening," continues Fitch. The agency "now forecasts that general government gross debt (GGGD) will peak at 74% of GDP in 2014-15 (two years later than we previously expected) and decline only marginally in the medium term, remaining above 73pp of GDP by 2020. A debt ratio that is higher for longer reduces the fiscal space to absorb future adverse shocks." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 20,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 24, 2013 Author Report Share Posted September 24, 2013 USD/CAD hesitant around 1.0300 FXstreet.com (Córdoba) - As most pairs in the FX market, the USD/CAD has spent most of the day in a range as investors seem hesitant regarding what side to take regarding the USD. USD/CAD stuck in a range USD/CAD fell to a session low of 1.0268 at the beginning of the American session but quickly bounced back above the 1.0300 mark although it couldn’t sustain either the bullish momentum and settled around mid-range. From a wider perspective, the pair remains stuck in a range constrained by 1.0268 on the downside and 1.0310 on the upside. USD/CAD technical levels At time of writing, USD/CAD is trading at the 1.0295 zone, 0.1% above its opening price. In terms of technical levels, immediate resistances are seen at 1.0310 (daily high) and 1.0317 (Sep 18 high) ahead of 1.0348 (100-day SMA). On the downside, supports are seen at 1.0268 (daily low) and 1.0215 (200-day SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 24,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 25, 2013 Author Report Share Posted September 25, 2013 USD/CAD dips back below 1.0300 FXstreet.com (Córdoba) - The USD/CAD dropped to fresh lows during the New York session as the greenback came under renewed pressure across the board. After failing to overcome the 1.0320 level, USD/CAD spent a few hours in a tight range but failed to hold above the 1.0300 psychological level and dropped to fresh daily lows in recent dealings. At time of writing, USD/CAD is trading at the 1.0295 area, having found support at the 100-hour SMA at 1.0285. USD/CAD levels to watch On the downside, supports could be found at 1.0285 (100-hour SMA) and 1.0270 (Sep 24 low)., while on the upside, if USD/CAD manages to overcome the 1.0320/27 area (daily highs/38.2% Fib of 1.0560/1.0182), next resistances are seen at 1.0350 (100-day SMA) and 1.0370 (50% Fibo level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 26,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 25, 2013 Author Report Share Posted September 25, 2013 AUD/USD, 0.9400 still a wishful thinking FXstreet.com (Edinburgh) -The Aussie dollar managed to retraced the whole intraday decline on Wednesday, lifting the AUD/USD from troughs around 0.9340 to the vicinity of 0.9390, losing some traction afterwards. AUD/USD keeps hinging on risk trends Extremely light docket in the Australian economy prompted investors to look towards the US economy for drivers this week, as key data and significant Fedspeak would be in the limelight. In the opinion of Robert Rennie, Strategist at Westpac, “My best guess this week is that AUD will still correct lower. It's possible we could see a move to 0.9250/0.9280 if concerns about the "US debt ceiling and budget showdown" rise. However, if anybody listened to my views last week and did sell AUD above 0.95, I would be advising buying them back on dips towards that 0.9280 level. Let's see what happens when we get there”. AUD/USD levels to watch As of writing the pair is down 0.17% at 0.9375 with the next support at 0.9343 (low Sep.23) and then 0.9336 (low Sep.18). On the flip side, a breakout of 0.9394 (high Sep.25) would clear the way to 0.9428 (high Sep.24) and finally 0.9459 (high Sep.20). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 26,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 26, 2013 Author Report Share Posted September 26, 2013 USD/JPY a mixed bag; 99.00 a challenge FXstreet.com (London) - USD/JPY had managed a breach of the 99.00 handle, on three attempts but has failed to offer any conviction and subsequent of less than impressive Us data the pair are struggling to hang in there. TD Securities explained that fresh reports that the Abe government is considering a corporate tax cut in the near future to help balance the much telegraphed sales tax increase on the horizon saw the JPY sell off sharply across the board early in the overnight session. “The Nikkei was boosted by over 1% on the news, and the index’s strong, positive correlation with USD/JPY is likely a strong force behind the pressure on the currency. But the broadly consolidative tone of markets has seen most of that move retrace in recent hours. Reports of new government policies have grown very common now and we may need to see a hard announcement before we see USD/JPY levels outside of the range of the past two months (97.50/100)”. From the calendar, US GDP came in slightly lower than anticipated by markets, at 2.5% vs 2.6% while initial jobless claims improved in terms of the consensus at 305K against 325K expected. USD/JPY Levels The 20 DMA is 99.20, the 50 DMA is 98.58 and the 200 DMA is 96.25. RSI (14) 57.12. Supports are ascending from 97.98, 98.19 ,98.27 and 98.51. spot is currently 98.94 while resistances are 99.18, 99.36, 99.67 and 99.99. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 26,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted September 27, 2013 Author Report Share Posted September 27, 2013 Markets in red on debt ceiling jitters FXstreet.com (Edinburgh) -The ongoing debate surrounding the US debt ceiling and the lack of solid responses, if any, by the US politicians are weighing on sentiment at the end of the trading week, as October 1st deadline is looming. The greenback, in terms of the US Dollar Index, is bouncing off session lows, giving away weekly gains around 80.20/15. As of writing, DowJones is retreating 0.44%, followed by the S&P500, 0.40% and the Nasdaq, 0.08%. Across the pond, Italian political effervescence dragged the main indices lower, with the FTSE100 dropping 0.81%, ahead of the IBEX35, 0.47% and the DAX, 0.03%. The shared currency is netting a flat week around 1.3520, retracing earlier gains after testing post-FOMC peaks around 1.3560/65. Commodities are trading in a mixed tone, with the ounce troy of gold gaining 1.06% at $1,338 and the barrel of WTI losing 0.18% at $102.84. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 27,2013 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
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