OctaFX_Farid Posted October 3, 2014 Author Report Share Posted October 3, 2014 EUR/USD drops to lowest level in 2 years - FXStreet FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that following the release of the better-than-expected US nonfarm payrolls report EUR/USD dropped as low as 1.2517, a level last seen in September 2012. Key quotes "US NFP data surprised to the upside, with 248K new jobs added in September, unemployment rate down to 5.9%, lowest since 2008, and an upward revision from previous month reading to 180K." "The bearish momentum seems to be just picking up, despite the 1 hour chart showing indicators still heading south in extreme oversold levels." "Pullbacks should now found sellers in the 1.2570 former year low, with a break below 1.2500 favoring a downward continuation towards 1.2440/60 price zone in the short term, yet eyeing next strong static support at 1.2370 price zone." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03, 2014 OctaFX.Com News Updates Ukraine to continue talks with Russia on gas deal next week FXStreet (Łódź) - Ukrainian Energy Minister Yuri Prodan signaled on Friday that Ukraine could resume negotiations on the natural gas agreement with Russia at the end of next week. Talks broke off last Friday, as the parties couldn't reach an agreement on the question of Ukraine's gas debt, which Russia's Gazprom claims amounts to 5.3 billion dollars. The company discontinued gas deliveries to Ukraine in June this year. Both countries as well as the EU will suggest what would be the best solution they see to the situation, Yuri Prodan told reporters. He was unsure however whether Moscow would agree to deliver gas if Kiev made a prepayment of about 2 billion dollars. Russian markets were boosted by the news. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03, 2014 OctaFX.Com News Updates Sectors which added most jobs in the US do not pay much - BNP Paribas FXStreet (Łódź) - BNP Paribas economist Alexandra Estiot observes that event though today's US NFP gains were substantial, the sectors in which the biggest increase was seen are also the ones that do not pay much. Key quotes "Over the month, non-farm payrolls gained 248kwith July and August data revised upwards to 243k and 183k, respectively. In a normal situation that would be healthy reading." "In the current one, it remains very far from what would be needed to close the slack." "As for the 'quality' of jobs created, most positions were added in low-pay sectors, as leisure and hospitality (USD13.98 per hour), trade and transport (USD21.44per hour)." "Still, this report also brings good news. Our view is that the main one is in the acceleration of hiring in the business services industry." "This sector added 81k positions in September while it represents the bulk of the July and August upward revision." "Another good news come from the State and local governments, which added 14k positions, mostly in education." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 03, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 8, 2014 Author Report Share Posted October 8, 2014 Bitcoin bulls lack strength FXStreet (Mumbai) - The pullback in Bitcoin prices after the weekend’s slump has been lackluster so far, as the prices repeatedly fail to penetrate through 340-345 levels. Bitcoin has come under pressure, off-late on threats that it may be brought under the regulatory framework. Despite the skepticism over the usefulness of Bitcoin, Silicon Valley investors have poured money into the Bitcoin wallet sector. Blockchain, the most popular Bitcoin wallet service, announced Tuesday that it has raised $30.5 million in a Series A round, marking one of the largest funding rounds of any Bitcoin startup to date. Bitcoin technical levels Bitcoin has a resistance of 343 and 350 while the support is located at 299 and 285. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 08, 2014 OctaFX.Com News Updates Bitcoin bulls lack strength FXStreet (Mumbai) - The pullback in Bitcoin prices after the weekend’s slump has been lackluster so far, as the prices repeatedly fail to penetrate through 340-345 levels. Bitcoin has come under pressure, off-late on threats that it may be brought under the regulatory framework. Despite the skepticism over the usefulness of Bitcoin, Silicon Valley investors have poured money into the Bitcoin wallet sector. Blockchain, the most popular Bitcoin wallet service, announced Tuesday that it has raised $30.5 million in a Series A round, marking one of the largest funding rounds of any Bitcoin startup to date. Bitcoin technical levels Bitcoin has a resistance of 343 and 350 while the support is located at 299 and 285. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 08, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 8, 2014 Author Report Share Posted October 8, 2014 WTI Crude recovers ahead of US session FXStreet (Mumbai) - WTI Crude prices have recovered slightly to trade at USD 88.20/barrel after having hit a low of USD 87.52/barrel earlier today. Crude prices appear to track the US equity futures which have turned positive after the intial slump during the early European session. Prices had hit a 17-month low of USD 87.44/barrel on the disappointing growth forecasts from the International Monetary Fund (IMF). The concerns of rising stockpiles is also pushing the prices lower. Later today, official data in the US is expected to show that US crude oil stockpiles rose by 1.6 million barrels last week. Meanwhile, the Energy Information Administration (EIA) cut its crude price forecasts today in a monthly report because of rising output and reduced demand. WTI Crude prices may hit fresh lows today if the data today shows stockpiles increase more than the market expectation. WTI Crude technical levels WTI Crude is hovering near a critical support level of 88.19. Failure to sustain above the same shall open doors for 87.44 levels. On the upside, prices can test 89.26 if Crude sustains above 88.19. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 08, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 9, 2014 Author Report Share Posted October 9, 2014 GBP/USD in fresh highs post-BoE FXStreet (Edinburgh) - The pound keeps the good mood on Thursday, taking GBP/USD to levels around 1.6215/20, printing new session peaks. GBP/USD neutral following the BoE Spot almost bypassed today’s BOE MPC meeting, after the ‘Old Lady’ left unchanged both the asset purchase facility and the repo rate at £375 billion and 0.5%, respectively. The outcome was largely expected by market participants and well priced in in the recent GBP performance. Traders will now look to the more significant BoE minutes (due in a couple of weeks) for further clues regarding the next rate hike and the slack in the labour market, amongst another key issues in the British economy. GBP/USD levels to watch At the moment the pair is up 0.26% at 1.6211 and a breakout of 1.6234 (50% of 1.6525-1.5943) would target 1.6235 (21-d MA) en route to 1.6252 (high Oct.1). On the down path, the immediate support lines up at 1.6154 (10-d MA) followed by 1.6115 (Tenkan Sen) and then 1.6032 (low Oct.8). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 09, 2014 OctaFX.Com News Updates Session Recap: USD weakness persists FXStreet (Córdoba) - Broad-based USD weakness remains the theme of the day while global equities rise after the FOMC minutes came in more dovish than expected. Meanwhile in Europe, the German trade surplus disappointed while the Bank of England decided to keep its monetary policy on hold. EUR/USD rose toward 1.2800 before running out of momentum while GBP/USD regained the 1.6200 level but lacked follow-through. USD/JPY extended its correction and hit a fresh 3-week low of 107.60. AUD/USD faltered ahead of the 0.8900 level as USD/CAD consolidates right above 1.1100. Dovish FOMC minutes added pressure on the greenback that was already in a corrective phase following a 12-week rally versus majors competitors. During the New York session, US weekly jobless claims are expected to rise to 294K, while August wholesale inventories climb 0.3%, while several FOMC members are expected to make remarks today. Main Headlines in Europe: What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank Germany: Trade surplus narrows to €17.5B in August US Ten-year yield near August lows Brent Crude Oil in bears’ grip ECB Monthly Report: ECB ready to take further measures if necessary Bitcoin gains for the fourth consecutive day Gold inches closer to resistance BoE keeps policy unchanged OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 09, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 10, 2014 Author Report Share Posted October 10, 2014 United States Export Price Index (YoY) down to -0.2% in September from previous 0.4% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 10, 2014 OctaFX.Com News Updates Canada: Unemployment rate (Sep) fell to 6.8% FXStreet (Edinburgh) -The Canadian jobless rate has ticked lower during September, falling to 6.8% from 7% previous and forecasted. The Net Change in Employment jumped to 74.1K from August’s drop of 11K. The Participation Rate stayed put at 66%. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 10, 2014 OctaFX.Com News Updates Canada: Unemployment rate (Sep) fell to 6.8% FXStreet (Edinburgh) -The Canadian jobless rate has ticked lower during September, falling to 6.8% from 7% previous and forecasted. The Net Change in Employment jumped to 74.1K from August’s drop of 11K. The Participation Rate stayed put at 66%. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 10, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 10, 2014 Author Report Share Posted October 10, 2014 Spread of Ebola would hurt airline and hospitality industries - Deutsche Bank FXStreet (Łódź) - Andrew Zarnett, Research Analyst at Deutsche Bank looks at the possible consequences of a wider Ebola outbreak. Key quotes "History has shown us that should the Ebola epidemic spread domestically, it will have a significant impact on the airline and the entire hospitality sector." "While, at this juncture, the risk of an outbreak is low, it is still prudent to understand the impact that could occur should the disease begin to spread. Further, it would not just be the physical spread that would have negative connotations but the FEAR from an outbreak that could and would have a larger negative impact on the hospitality sector." "Fear of contagion, very early, would lead to a reduction in people’s willingness to travel, eat in restaurants, drink in bars, and quite frankly do anything social. The addition of masks would become a much-wanted clothing item by many." "Concerns have not affected passenger volume so far. On October 2, 2014, the International Air Transport Association (IATA) stated that there is no evidence that suggest that concerns related to Ebola have been affecting passenger volumes. As per IATA, the worldwide international passenger traffic increased 5.9% yr/yr in August, following a 5.4% gain in July. Demand for North American airlines increased 3.2% in August." "So far, so good. Nevertheless, believe more cases of Ebola or the perception of more cases could lead to an increase in the public fear of contagion." "From an investment perspective we would advise investors to maintain positions in moderate leverage credits with strong liquidity (including cash positions) and long dated maturities. Those credits with weak liquidity and high leverage are clearly at greater risk." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 10, 2014 OctaFX.Com News Updates Morgan Stanley: USD remains relatively resilient - eFXnews FXStreet (Łódź) - The eFXnews team remark that Morgan Stanley sees the USD as very resilient in the light of the recent sharp drop in US yields. Key quotes "'Indeed, USD’s correction has been moderate, given the extent and pace of gains seen recently, and underlines the strength of the bullish trend, in our view. We would also suggest that this robust performance is a function of USD establishing itself as an asset currency, MS argues." "'As a result, we expect USD behavior to change, and this is likely to be most emphasized in its relationship with yields. Lower yields would not necessarily be seen as a USD negative in this scenario, as was the case with EUR in the past two years through to this May. Relative asset valuations are once again the driver of this change, favoring USD and attracting inflows,' MS clarifies." "'The post-FOMC reaction aside, the recent decline in US yields is likely a reflection of inflows and consistent with a higher USD. The fact that these flows are the result of relative fundamentals and not a geopolitical shock – portfolio allocation to the US rather than a safe-haven flow – also implies that these trends are likely to be sustainable, in our view,' MS adds." "'Hence, we think the medium-to-longer-term structural USD bullish trend is set to stay in place despite recent US yield developments,' MS adds." "In line with this view, MS maintains a short EUR/USD in its strategic portfolio from 1.2920 with a revised profit-stop at 1.2840 and a target at 1.20." 'This content has been provided under specific arrangement with eFXnews.' OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 10, 2014 OctaFX.Com News Updates DJIA stays flat, CBOE VIX jumps higher FXStreet (Mumbai) - The DJIA is trading flat, swinging between minor gains and losses, although the Chicago Board Options Exchange(CBOE) Volatility Index (VIX) has broken through key resistance levels. Sharp rise in the VIX indicates that the market sentiment is jittery despite the DJIA holding ground so far. The VIX is trading 7.57% higher today at 20.18. It has comfortably breached through the key resistance levels of 18.00 and 18.99. The index appears on its way to test the recent cyclical high of 21.48. The VIX chart indicates a possibility of fresh selling in the US Equity markets. VIX Technical levels VIX has an immediate resistance of 20.72 (Feb 5th. high) and 21.48 (Feb 3rd. high), while the support is located at 18.99 and 18.00 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 10, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 13, 2014 Author Report Share Posted October 13, 2014 WTI Crude tanks further, Option traders target $77.50 by Dec FXStreet (Mumbai) - The WTI Crude prices continue to fall towards a two and a half year low of USD 83.59/barrel hit during the last week. The prices are down 1.25% to trade at USD 84.75/barrel. The fundamentals of weak demand, weak global growth and excess supplies continue to dominate the market sentiment. Moreover, the weak fundamentals of Crude oil are evident from the activity in the Options data which shows traders are targeting USD 77.50/barrel by December. Implied volatility of January WTI options at that level shows a 25 delta, which is a 25% portability that a $77.50 put option will end up in the money at the Dec. 16 expiration. Moreover, the Oil and Petroleum Exporting Countries (OPEC) group has blamed the speculators for the recent slump in the Oil prices. WTI Crude Technical levels Crude has an immediate support of 84.09 below which prices can slump to 83.59 levels. Meanwhile, a breach of 85.00 levels on the upside, shall open doors for the re-test of 86.29 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 13, 2014 OctaFX.Com News Updates EUR/USD not there… yet FXStreet (Edinburgh) - The common currency is now looking to consolidate below the key 1.2700 handle, with EUR/USD gyrating around 1.2690/95. EUR/USD halfway to last week’s tops Spot remains well poised to challenge the key barrier at 1.2700. However, if the USD weakness persists in the upcoming sessions, the pair might try to re-test recent peaks near the 1.2800 handle. “The break of the support at 1.2640 coupled with the weak daily close last Friday suggests further downside pressure for today. Expect 1.2680 to cap for a retest of the strong support at 1.2600/05 but clear break below this level appears unlikely for now”, noted market analysts at UOB Group. EUR/USD levels to watch At the moment the pair is up 0.49% at 1.2693 with the next resistance at 1.2698 (high Oct.13) ahead of 1.2716 (high Oct.10) and then 1.2743 (21-d MA). On the flip side, a breakdown of 1.2638 (200-h MA) would expose 1.2605 (low Oct.10) and finally 1.2583 (low Oct.7). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 13, 2014 OctaFX.Com News Updates Eurozone Industrial Production seen dropping 1.5% - ING FXStreet (Łódź) - Martin Van Vilet from ING expects August Eurozone Industrial Production numbers to drop further, about 1.5% on a monthly basis. Key quotes "The national industrial production figures released last week clearly confirmed that the industrial recovery across the Eurozone has lost significant momentum." "Industrial production (excluding construction) in Germany fell a significant 4.3% MoM in August – admittedly partly because of the timing of school holidays." "Industrial output in France, meanwhile, was unchanged, while Italian output rose by only 0.3%." "Production in Spain – which the IMF thinks will outpace Germany in 2015 (we are not so sure yet) – also rose by a modest 0.2%, and although production in the Netherlands saw a much stronger rise (+1.3%), this was solely due to a sharp rise in the erratic mining component." "Taken together, the national data point to a decline in Eurozone aggregate production, due tomorrow, of around 1.5% MoM. That would more than reverse the 1.0% MoM increase seen in July, and even with some rebound in September, it thus seems likely that the industrial sector acted as a drag on GDP in the third quarter." "If the PMI is anything to go by, the much larger services sector fared better and should have contributed positively to GDP growth." "So we doubt whether the overall Eurozone economy contracted in 3Q. Indeed, for the time being we have pencilled in Eurozone GDP growth of 0.1% QoQ in 3Q. Such growth, however, clearly is much too low for comfort." "Pressure on European policymakers to deploy further monetary and renewed fiscal stimulus, therefore, looks set to continue." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 13, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 13, 2014 Author Report Share Posted October 13, 2014 European equities fall as the DJIA weakens FXStreet (Mumbai) - The weakness in the US Equity markets has pulled down the European equity markets, which were trading about a half a percent up ahead of the US Open. The DJIA is trading 0.16% lower at 16517.50, down from a high of 16595.50, while the S&P futures are trading flat at 1895.15, down from a high of 1905. Consequently , the Dax has erased gains to trade just 0.18% up at 8810 levels. Meanwhile, the FTSE is trading 0.44% up at 6367.90. The Equity markets in the US are swinging from gains to losses as the markets lack a fundamental trigger today. The US treasury markets are closed, hence no fresh cues are coming-in from the treasury yields. Consequently, the US Dollar Index and the Gold prices are trading lackluster. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 13, 2014 OctaFX.Com News Updates AUD/USD pressing on to the downside FXStreet (Barcelona) - AUD/USD is trading at 0.8757, up 0.82% on the day, having posted a daily high at 0.8789 and low at 0.8652. AUD/USD ran into supply at 0.8780 resistance and has been levelled at the support of the final session of last weeks business here but weigh quite heavily currently. Emmanuel Ng, FX Strategist at OCBC Bank said however that they would expect the AUD to derive some comfort following the latest September China trade numbers, with both exports and imports coming in stronger than expected. “While the PBOC’s assurances that the risk of a heard landing is very small may temper near term downside for the pair, note that on the CFTC front, net leveraged AUD positioning flipped to a net short balance for the first time since late March 2014”. AUD/USD noteworthy levels Current price is 0.8757, with resistance ahead at 0.8763 (Hourly 200 SMA), 0.8781 (Hourly 100 SMA) and 0.8826 (Daily Classic R2). Next support to the downside can be found at 0.8756 (Daily Classic R1), 0.8746 (Weekly Classic PP), 0.8742 (Hourly 20 EMA), 0.8718 (Daily Classic PP) and 0.8686. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 13, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 15, 2014 Author Report Share Posted October 15, 2014 Fed QE might be needed again - Deutsche Bank FXStreet (Łódź) - Jim Reid, Head of Global Fundamental Credit Strategy at Deutsche Bank argues that another QE program from the Fed is possible, probably during the next US recession. Key quotes "The rationale being that the terminal Fed funds rate will probably not be able to get high enough this cycle for conventional policy alone to be enough by the time we get to the next recession." "By this time the ECB may be fully into QE and the BoJ may have done more, so without Fed QE the dollar might also be becoming too strong for comfort. However after the events of the last few weeks could the Fed actually re-start purchases before a recession?" "Well Fed Williams made some interesting comments yesterday, albeit ones that were caveated. He was quoted as saying that 'If we really get a sustained, disinflationary forecast ... then I think moving back to additional asset purchases in a situation like that should be something we should seriously consider'." "However he did say it would take a big shift in the U.S. economic outlook for the Fed to restart its bond buying and that he still felt it would likely be appropriate to begin lifting rates from zero in the middle of next year." "So a fairly big bid-offer on how Fed policy might evolve over the next 12 month but another small sign from the Fed that there is some recent anxiousness about global growth and inflation." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 15, 2014 OctaFX.Com News Updates SEB: GBP/USD near-term below 1.60 - eFXnews FXStreet (Łódź) - The eFXnews team comment that SEB see GBP/USD remaining below the 1.60 level in the nearest future, following another strong decline on Tuesday. Key quotes "Short-term conditions may be stretched, but few cares and the medium-term mid-Oct'13 reaction low of 1.5854 is fully in sight (below which 1.5785/75 & 1.5753 would come into play)." "A prior near-term low & yesterday's mid-body point provides local resistance around 1.60." "Current intraday stretches are located at 1.5854 & 1.6005." 'This content has been provided under specific arrangement with eFXnews.' OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 15, 2014 OctaFX.Com News Updates CAC declines from a technical resistance FXStreet (Mumbai) - The French equity index declined after having failed to sustain above the 5-day moving average level of 4088. The Cac is trading 0.70% lower at 4059.80, in line with its European peers. The index had briefly rose above 4088 levels, to hit a high of 4096. However, the index faced rejection at the 5-day average level post which prices slumped to a day’s low of 4041.30. The Index details indicate that the fall has been led by Oil and Gas stocks which have declined by 0.5%. Utlities, Automobile and Banking stocks have shed 1%, 0.85%, and 0.77% respectively. Lending some support to the index are the food producers which are up by 2.98%. Cac Technical levels The Cac has an immediate resistance of 4088-4096 levels, above which the index can re-test 4109 levels (Aug 8 lows). On the flip side, the Cac can re-test 4012 levels if the day’s low of 4041 is taken out. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 15, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 16, 2014 Author Report Share Posted October 16, 2014 US Equity futures down 1%, point to a weak opening FXStreet (Mumbai) - The US Equity futures are trading weak, tracking the fall in the European and the Asian equity markets. The DJIA December futures are trading 1.065 lower at 15,838 levels. Meanwhile the S&P December futures and the Nasdaq December futures have lost 1.20% and 1.23% respectively. The fall in the equity markets may continue ahead as the S&P 500 Volatility Index (VIX) October future contract is trading 7.11% higher at 25.685 levels. The US Equity futures did recover some losses after the official data in the US showed Initial jobless claims for the week ended Oct 11 fell to their lowest level in 14 years. However, the underlying tone appears bearish as indicated by the rising VIX futures. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 16, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 16, 2014 Author Report Share Posted October 16, 2014 Fed's Lockhart: Situation on labor market not stable yet FXStreet (Łódź) - Speaking in New Jersey on Thursday Atlanta Fed President Dennis Lockhart didn't touch upon monetary policy but concentrated on the situation on the US labor market, which in his opinion is still far from normal. He suggested that with the strengthening of the economy the use of part-time workers should be declining, although the preference for such workers will remain. Lockhart also pointed to the need of workers adapting to the technological developments on the labor market and the progressive automation. “If you accept as reality the persistence and growth of automation, robotics, production algorithms and digitization in general, I don’t think it’s difficult to imagine what jobs will increasingly require as hard skills and, consequently, what strategic workforce development will entail,” he said. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 16, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 17, 2014 Author Report Share Posted October 17, 2014 India Bank Loan Growth climbed from previous 9.7% to 11% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 17, 2014 OctaFX.Com News Updates Canada: CPI (Sep) rose 2.0% YoY FXStreet (Edinburgh) -Headline consumer prices in Canada rose at an annual pace of 2.0% during September, in line with expectations. On a monthly basis prices gained 0.1%, matching forecasts. Core prices, gauged by the Bank of Canada, rose 2.1% over the last twelve months and 0.2% inter-month. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 17, 2014 OctaFX.Com News Updates Fed's Yellen: Economic inequality continues widening in the US FXStreet (Łódź) - Speaking at the Boston Fed economic conference on Inequality of Economic Opportunity president Janet Yellen doesn't comment on monetary policy in her prepared remarks. • She expresses her grave concern about the extent and growth of income inequality in the US and asks whether this is compatible with American values The widening of inequality, which halted during the recession has resumed in recovery. • U.S. is one of the few advanced economies that does not fund public education through national taxes. • Economic mobility is lower in the US than in most advanced economies. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 17, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 20, 2014 Author Report Share Posted October 20, 2014 EUR/USD lacks momentum FXStreet (Córdoba) - EUR/USD continues to trade within a familiar range Monday as the dollar remains broadly unchanged in a quiet start to the week. In line with expectations Eurozone data failed to inspire EUR/USD, which despite recovering from a low of 1.2729, lacked momentum and remained capped by 1.2780 on the upside. At time of writing, the pair is trading at the 1.2765 area, just a few pips higher on the day. With no first-tier data scheduled for this week in the euro area, markets will be watching closely for any official ECB announcement on covered bond buying. EUR/USD technical levels As for technical levels, immediate resistances for EUR/USD line up at the 1.2835/45 area (Oct 17 & 16 highs), followed by 1.2882 (Oct 15 high) and 1.2900 (psychological level). On the flip side, supports could be seen at 1.2730 (intraday low), 1.2704/00 (Oct 16 low/psychological level) and 1.2623 (Oct 15 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 20, 2014 OctaFX.Com News Updates USD/JPY drops below 107.00 FXStreet (Córdoba) - The US dollar erased all gains versus the Yen and closed a bullish gap. USD/JPY failed to hold above 107.00 and after breaking below 106.92 (previous low) fell to 106.82, reaching a fresh daily low. Price remains near the lows holding bearish momentum as stocks in Europe drop further, favoring the yen in the market. The pair is trading back at the same level it closed Friday, after erasing all gains. USD/JPY levels to considerer To the upside, immediate resistance lies at 107.17/20 (area that capped the recent rebound from 106.92) and above here at 107.35/40 (daily high), followed by 107.60. On the opposite direction support might lie 106.80 and below here at 106.55 and 106.30. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 20, 2014 OctaFX.Com News Updates Speculators reduce bullish bets on WTI Crude FXStreet (Mumbai) - The bullish bets on Crude prices stand at six week low as the Crude prices fell into a bear market territory over the last four months. Speculators and money managers reduced net-long positions in West Texas Intermediate by 8.1 percent in the week ended Oct. 14. Meanwhile, the Commodity Futures Trading Commission (CFTC) data showed, short crude positions jumped to the highest level in 22 months. However the CTC data comes with a one-week delay, thus the positioning may have changed in the last week after major investment banks predicted the rout may be over. As per Stephen Schork, president of Schork group, “The market has found an area of support around $80”. WTI Crude is trading 0.40% higher today at USD 82.39/barrel, down from a high of USD 82.73/barrel hit earlier today. WTI Crude Technical levels WTI Crude has an immediate resistance of 84.78, above which prices can test 86.00 levels. On the other hand, Crude may re-test 80 levels if the prices fail to sustain above 82.00 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 20, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 21, 2014 Author Report Share Posted October 21, 2014 Lower crude oil prices beneficial for Japanese economy - RBS FXStreet (Łódź) - Junko Nishioka, Chief Economist at RBS discusses the possible impact of the dropping oil prices on the Japanese economy. Key quotes "Lower crude-oil prices will improve trade income, strengthen corporate profits via reduced input costs, and lighten the household burden for the Japanese economy that relies on imports for almost all of its resources." "Specifically, we estimate that a 20% decline in the crude-oil price will boost trade income by about JPY4tn and corporate recurrent profit by 11%." "Benefits of lower crude-oil prices differ for industries, and we expect upstream industries with extensive intermediate input, such as basic chemicals and other petroleum-related products, to benefit most." "We also envision a lighter burden on households, the final demand sector, on the simple assumption that companies can reduce output prices by half from the input cost savings." "We believe this can return to the economy at least one-third of lost disposable income from the FY14 consumption tax hike, as well as cushion future tax increases from tax system revisions and rising social entitlement costs. Indeed, we expect a favourable overall impact on real economic activity from lower crude-oil prices." "At the same time, a sudden steep drop in crude-oil prices will contribute to downward pressure on prices and may generate concerns about a delay in reaching the 2% inflation target." "Yet, if crude-oil prices stay at current levels, we anticipate only a 0.1-0.2pp downward shift in the core CPI from our existing main scenario." "We thus do not foresee crude-oil prices significantly delaying the realization of the 2% target, and doubt the BoJ will find it necessary to substantially lower its inflation outlook – even if it needs to reduce growth rate projections – in its end-October Outlook Report." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 21, 2014 OctaFX.Com News Updates Comex Copper rises to 4-day high FXStreet (Mumbai) - Copper, on the Comex division of the New York Mercantile Exchange, is trading at a four-day high after having recovered from the losses of the Asian and European session. Copper is trading 1.16% higher at USD 3.023/pound, after having recovered from the day’s low of USD 2.975/pound. Prices hit a high of USD 3.035 just ahead of the US opening today. Moreover, the metal has recovered from the day’s low tracking the strong performance of the European and the US Equity markets. Speculations are rife that the European Central Bank (ECB) bought Italian covered bonds as it returned to the market for a second day under its asset purchase program. Copper prices also got a boost after the US National Association of Realtors reported the existing home sales at a one year high in September. Existing home sales rose 2.4 percent to an annual rate of 5.17 million units, beating the Reuters forecast of 5.10 million sales growth. Copper Technical levels Copper may rise to 3.05 levels, if the metal manages to sustain above 3.026 levels. On the other hand, prices may fall back to 2.975 levels if the support level of 3.00 is breached. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 21, 2014 OctaFX.Com News Updates GBP/USD hits fresh daily lows FXStreet (Córdoba) - GBP/USD fell to fresh daily lows at the beginning of the New York session as the greenback gathered pace, especially against European rivals. Following a short-lived bounce, GBP/USD resumed the slide, extending its pullback from a 12-day high of 1.6185 to a low of 1.6130, although the 20-day SMA is helping to contain the downside. At time of writing, the pair is trading at the 1.6135 zone, 0.14% below its opening price. GBP/USD: supports & resistances As for technical levels, below 1.6130, next supports could be found at 1.6100 (psychological level) and the 1.6084/1.6079 area (10-day SMA/Oct 20 low). On the other hand, resistances are seen at 1.6198/1.6200 (50.0% Fibo of 1.6523-1.5873/psychological level) and 1.6225 (Oct 9 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 21, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 22, 2014 Author Report Share Posted October 22, 2014 USD/CAD climbs to highs pre-BoC FXStreet (Edinburgh) - The greenback is extending its upbeat momentum vs. its northern neighbour, pushing USD/CAD to session highs beyond 1.1240. USD/CAD attention to the BoC, data Key day for the Canadian dollar, as the BoC will hold its monetary policy meeting followed by the more relevant October Monetary Policy Report (MPR). Paul Fage, Senior EM Strategist at TD Securities. Assessed, “Governor Poloz has no incentive to sound upbeat and recent developments will give him ample justification to maintain his cautious tone. The forward looking language is not likely to change substantially with the Bank holding on to their neutral bias, but the document as a whole is likely to feel dovish”. Still in Canada, Retail Sales are also due, with consensus expecting a flat reading in August and a 0.2% gain from the core print. In the US economy, the focus will be on September’s inflation figures gauged by the CPI, with headline consumer prices expected at 1.6% YoY. USD/CAD levels to consider At the moment the pair is up 0.13% at 1.1236 with the next resistance at 1.1297 (high Oct.21) ahead of 1.1360 (high Oct.16) and then 1.1385 (2014 high Oct.15). On the flip side, a breakdown of 1.1216 (low Oct.22) would open the door to 1.1202 (low Oct.21) and finally 1.1200 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22, 2014 OctaFX.Com News Updates US: CPI (Sep) rose 1.7% FXStreet (Edinburgh) - The Department of Labour informed that US headline consumer prices rose at an annual pace of 1.7% in September, surpassing estimates and matching August’s print. On a monthly basis, prices rose 0.1%. Core CPI, which strips food and energy costs, rose 1.7% over the last twelve months and 0.1% MoM. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22, 2014 OctaFX.Com News Updates Gold at day’s low after CPI data FXStreet (Mumbai) - Gold prices declined after the Consumer Price Inflation (CPI) data in the US surprised markets on the upside. Gold is trading 0.57% lower at the day’s low of USD 1243.80/Oz after the official data in the US showed CPI in September rose 0.1% month-on-month, compared to the market expectation of 0.0%. Moreover, the CPI has increased when compared to August month’s reading of -0.2%. Year-on-year the CPI increased 1.7%, above expectation of 1.6%. Moreover, markets were expecting the CPI data to highlight weakening price pressures. However, a strong data is likely to push inflation expectations higher. Thus, the data is likely to erase the bets of a delay in the interest rate hike in the US. The US ten-year treasury yields have so far not reacted to the better-than-expected CPI data. Gold Technical levels Gold can fall to 1238 levels if the prices fail to sustain above 1245 levels. On the other hand, a rebound could see Gold re-test 1250 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 22, 2014 Author Report Share Posted October 22, 2014 US Ten-year Treasury yields at day’s high FXStreet (Mumbai) - The Treasury yields across the short end and the long end of the bond market curve inched higher after the better-than-expected US CPI number hit the wires. The Ten-year treasury yield is trading at a day’s high of 2.246%, up from 2.22% hit just before the release of the CPI number. Though, the data for September month managed to beat the market expectation, it still remained well below the 2% target for the second consecutive month. Meanwhile, the two –year yield, a barometer of short-term interest rate expectations, is trading at 0.378%. Moreover, a better than expected CPI released today is likely to push up the short term inflation expectations in the US. Ten-Year yield Technical levels The yield has an immediate resistance of 2.264%, above which it can rise to 2.303%(Aug 15 low). Meanwhile, a failure to sustain above the immediate support of 2.229% can push the pair back to 2.20% level. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22, 2014 OctaFX.Com News Updates Mexico Retail Sales (MoM) up to 0.6% in August from previous 0.4% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 23, 2014 Author Report Share Posted October 23, 2014 EUR/CHF (a)pathetic around 1.2060 FXStreet (Edinburgh) - EUR/CHF is slowly inching higher on Thursday, although the 1.2070 level seems too tough a barrier so far. EUR/CHF bounced off 1.2055 The trade remains heavy around the cross, now managing to recover ground from session lows in the mid-1.2000s, although currently USD buying is hampering the bullish intent. Next of note in the Swiss economy will be the KoF Leading Indicator (Monday) and the UBS Consumption Indicator (Tuesday). “Intraday rallies are now indicated to halt circa 1.2080/87, the 55 day ma. This guards the 1.2133 July low and the 200 day ma at 1.2164”, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank. EUR/CHF key levels At the moment the pair is up 0.02% at 1.2064 with the next resistance at 1.2074 (Tenkan Sen) ahead of 1.2088 (38.2% of 1.2140-1.2057) and then 1.2096 (high Oct.14). On the flip side a break below 1.2053 (low Sep.30) would expose 1.2030 (low Nov.28 2012) and finally 1.2007 (low Jul.23 2012). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 23, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 23, 2014 Author Report Share Posted October 23, 2014 GBP/JPY breaks above 173.00, 2-week high FXStreet (Córdoba) - The decline of the yen across the board pushed GBP/JPY to the upside. The pair broke above key short term resistance levels and jumped to 173.14, reaching the strongest level since October 10. Cable remains near the highs, rising more than a hundred pips and headed toward the strongest daily close in two weeks, extending the recovery after falling last week to 168.00. JPY driving GBP/JPY to the upside The bullish rally of the pair is being boosted by the decline of the yen in the market. While GBP/USD continues to trade around daily lows, near 1.6000; USD/JPY recently broke above 108.00, to trade at fresh weekly highs, with a gain of more than a hundred pips. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 23, 2014 OctaFX.Com News Updates AUD/USD making lower highs below key 0.88 handle FXStreet (Barcelona) - AUD/USD is trading at 0.8773, down -0.05% on the day, having posted a daily high at 0.8809 and low at 0.8749. Shunned from the 0.88 handle on bullish attempts, the pair is back on it's knees having been crucified all the way to the mid point of the 0.87 handle by the bears. On these attempts higher, the pair is making lower highs each time as the greenback just keeps coming in strong. However, 0.8650 remains the key support zone and until this eight-month low is breached, we are still caught in a neutral to bearish range. Overnight, there was support for the Aussie from the HSBC Chinese PMI Manufacturing and that was coupled with previous upbeat results for the Chinese economy earlier in the week in the form of Industrial Production and GDP. For the Aussie, this is sure to offer some background support and while the RBA will likely remain with current stance on policy into November, should China continue on proving resilient into next year, this could transpire into bullish rhetoric from the RBA in respect of the wages outlook in the Australian economy and be further supportive to the Australian dollar in the medium term. However, for now focus and attention will be with the FOMC next week which will be the main driver for the pair in the absence of events from Australia. AUD/USD noteworthy levels Spot is presently trading at 0.8774, and next resistance can be seen at 0.8776 (Hourly 20 EMA), 0.8780 (Daily Open), 0.8780 (Daily Classic PP), 0.8782 (Hourly 100 SMA) and 0.8783 (Weekly High). Support below can be found at 0.8767 (Hourly 200 SMA), 0.8752 (Weekly Classic PP), 0.8749 (Daily Low), 0.8746 (Yesterday's Low) and 0.8744 (Weekly Low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 23, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 25, 2014 Author Report Share Posted October 25, 2014 US Session recap: USD consolidation ahead of FOMC FXStreet (Guatemala) - The FX market was in a phase of consolidation after taking some profits out of the USD. Stocks in the US were the main event today, which helped the dollar to some extent, but focus was much more about next week. There was finally no chatter around Ebola but more on the condition in Europe. Draft copies of the stress test were leaked and it seems that there are 25 banks that have been or will be confirmed to be required to raise money with 10 out of the 190 that are on the watch list. GBP/USD was consolidating after an up day in Europe despite the inflation results that actually tailed off and is now sitting at just 1.2% headline CPI. The core printed at 1.5% and hopes for an early rate rise are diminished. 1.61 was the highs and ranges below were down to 1.6017. USD/CAD bulls defied the bears and the 1.12 handle remained in formation for the session after a little test below the figure. The pair was meeting supply through 1.1240 and was capped within a range here. USD/JPY finished up in the middle of its range on the 108 handle at 108.10. The yen has been a volatile currency this week but today was put back into its place with only managing a high vs the dollar in the early US session sub the 108 handle at 107.78 the low. AUD/USD was not very favourable to the shorts out there on the handover from Europe on demand for commodities but that was short lived when the greenback took control again and became bid taking the pair back on the 0.88 handle in a relatively non eventful session for the pair. Key Events: Stress test leaks reveal 25 banks failed USD new home sales for Sep 0.467m vs 0.470m exp m/m Standard & Poor’s 500 Index made scores of its best week since 2013 OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 25, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 27, 2014 Author Report Share Posted October 27, 2014 GBP/USD climbs beyond 1.6100 FXStreet (Edinburgh) - Better sentiment now surrounding the sterling is pushing GBP/USD back above the 1.6100 mark on Monday. GBP/USD extends the rebound from 1.6000 The pair is now advancing for the second consecutive session and is looking to extend the recent bounce off recent lows around the psychological handle at 1.6000. Data wise in the UK, the week lacks of appeal, however Consumer Credit, M4 Money Supply and home prices tracked by Nationwide will keep investors entertained. “Net leveraged GBP longs on the CFTC front were reduced significantly for the third consecutive week, mirroring the waning of overly hawkish BOE expectations. In the short term, the pair may attempt to continue base building within 1.6000-1.6200 multi-session”, noted Emmanuel Ng, FX Strategist at OCBC Bank. GBP/USD levels to watch As of writing the pair is up 0.17% at 1.6116 facing the next up barrier at 1.6130 (high Oct.22) ahead of 1.6146 (Kijun line) and then 1.6164 (30-d MA). On the flip side, a break below 1.6031 (Tenkan Line) would open the door to 1.6018 (low Oct.24) and finally 1.5995 (low Oct.23). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 27, 2014 OctaFX.Com News Updates Corn trades weak after three consecutive weekly gains FXStreet (Mumbai) - Corn prices declined today after the prices ended higher on Friday, scoring gains for the third consecutive week. Corn for December delivery is trading 1.02% lower at USD 3.4863/bushel. Prices rallied for the last three weeks, mainly on hopes that the wet weather would delay the harvest of crops. Prices hit a high of USD 3.6475 on Friday before closing at USD 3.5238. Moreover, the latest weather forecast models show warm temperatures and a less probability of rains. A lack of notable rains across the central and western Midwest and Delta until Nov. 2 will favor corn and soybean harvesting, MDA Weather Services said in a report dated Oct. 24. Moreover, with a warmer weather forecast for this week, the harvests are likely to resume leading to a weakness in the Corn prices. Corn Technical levels Corn has an immediate support of 3.48 (Aug 12th low), below which prices can fall to 3.4213 (Oct 20th low). On the flip side, prices may rise to 3.6 levels if the day’s high of 3.5238 is breached. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 27, 2014 OctaFX.Com News Updates Gold trades flat FXStreet (Mumbai) - Gold prices are trading flat in the European session despite the fresh signs of weakness in the European equities. Gold is trading 0.10% lower at USD 1230.60/Oz, up from the day’s low of USD 1227.50/Oz hit earlier today. The metal has been unable to gain strength so far, despite the fall in the European equity markets after a positive start. The Dax is trading 0.59% lower while the Ftse has lost 0.43% today. Both markets are down more than 1% from the day’s high. The yellow metal has failed to respond even to the disappointing German IFO survey data released during the European session today. Moreover, the prices are under pressure amid expectations that the Federal Reserve (Fed) will end its monthly bond buying program this week. However, sustained losses in the equity markets coupled with the weakness in the US Dollar index may push gold prices higher. Gold Technical levels Gold has an immediate resistance at 1235, above which prices can test 1238 and 1240 levels. On the other hand, failure to sustain gains above the immediate support of 1227 can send the prices down to 1223 levels today. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 27, 2014 OctaFX.Com News Updates Link to comment Share on other sites More sharing options...
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