OctaFX_Farid

WTI tumbles below $45.00 FXStreet (Edinburgh) - The barrel of West Texas Intermediate is testing session lows in the vicinity of the $45.00 handle on Wednesday. WTI in multi-month lows Crude oil prices have dropped to sub-$45.00 levels for the first time since march, as concerns over the global supply glut continue to be the exclusive driver behind the entrenched bearish sentiment surrounding crude oil. In the data space, the EIA has reported another decrease in crude oil inventories during the week ended on July 31, this time by 4.4 million barrels. In spite of the drop, crude oil prices remained unable to gather any traction as the EIA has also informed of an increase in gasoline stocks, neutralizing any subsequent upside attempt in prices. WTI levels to watch At the moment WTI is down 1.66 % at $44.98 with the next support at $44.03 (2015 low Mar.18) followed by $43.83 (monthly low Feb.2009) and then $33.55 (monthly low Jan.2009). On the flip side, a break above $46.94 (high Aug.3) would aim for $48.62 (high Jul.31) and finally $49.52 (high Jul.29). Aug 05,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

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!

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!

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!

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!

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!

GBP/USD: Bulls struggle to push above 1.5650 FXStreet (Mumbai) - The GBP/USD spot rose to a session high of 1.5650 after dismal US data, but is having a hard time extending gains above the same. US 2-year yield erases gains The 2-year yield, which mimics rate hike expectations in the US, fell from 0.74% to trade largely unchanged on the day around 0.728% after the ADP data showed the private sector added far less jobs in July than estimated. Another set of data showed the trade deficit widened in June, with the deficit with Eurozone rising to record high. The resulting weakness in the 2-year yield, helped the cable clock session high of 1.5650. The spot now trades just below 1.5639 (38.2% of June rally) as investors await the US ISM non-manufacturing report. Moreover, the Sterling has been on the rise since the European session ahead of tomorrow’s BOE Quarterly Inflation Report (QIR). GBP/USD Technical Levels The immediate resistance is located at 1.5650 (daily high), above which a major hurdle is seen at 1.57 handle. On the flip side, support is seen at 1.56 and 1.5560 (50-DMA). Aug 05,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

AUD/USD spikes to near 0.7400 after US ADP, trade balance FXStreet (Córdoba) - After a corrective move, AUD/USD received a boost and spiked to fresh daily highs at the beginning of the New York session as the greenback weakened on the back of disappointing ADP employment report. Ahead of the eagerly awaited government employment figures, ADP reported US private sector added only 185K new jobs in July versus 215K expected. A wider than expected US trade deficit contributed to the USD weakness, which fell across the board (-43.8B vs -42.7 exp). AUD/USD jumped to a daily high of 0.7394, and it was last trading at 0.7383, virtually unchanged on the day. On Monday, the Aussie strengthened broadly after the RBA removed its reference to a weaker currency needed from the monetary policy statement. AUD/USD levels to watch As for technical levels, resistances could be found at 0.7427 (Aug 4 high) and 0.7449 (Jul 21 high), while immediate supports are seen at 0.7333 (Aug 5 low) and 00.7318 (10-day SMA). Aug 05,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

Canada exports in June rose at fastest rate since 2006 FXStreet (Mumbai) - The official data in Canada released on Wednesday showed exports surged in June, rising at the fastest pace since 2006 as shipments to the US rebounded. The trade deficit narrowed to $476-million, from $3.37-billion. The markets were calling for a $2.9-billion trade gap in June. Exports rose 6.6%, ending the five straight months of decline. Exports to the US jumped 7.1%, Imports fell 0.6%, due to a decline in shipments by the aircraft and energy sectors. Aug 05,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

US trade deficit widens to USD 43.8 billion FXStreet (Mumbai) - The US trade deficit in June widened largely due to higher imports of autos and drugs from the European Union. The trade deficit rose 7.1% to a seasonally adjusted USD 43.8 billion in June, beating the estimated rise to USD 42.7 billion from May’s USD 40.94 billion. The trade deficit with the EU hit a record high. Exports slipped 0.1% to USD 188.6 billion in June, the Commerce Department data showed on Wednesday. Imports rose 1.2% to USD 232.4 , leading to a wider trade deficit. The wider deficit is not be surprising since the government report on "goods" balance released last week showed a similar rise. Aug 05,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

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!

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!

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!

United States MBA Mortgage Applications: 4.7% (July 31) vs 0.8% FXStreet.com (Barcelona) For more information, read our latest forex news. Aug 05,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

OctaFX.com - OctaFX volunteers support Bali Sports Foundation and 3rd International Bali Para Games.! It’s been almost half a year since OctaFX supports Bali Sports Foundation across three programmes: Wheelchair Rugby, Wheelchair Basketball and Disabled Sailing. From July 22, BSF conducted 3rd International Para games, athletes from South-Eastern Asia and Australia competing in various sports: Wheelchair Rugby, Boccia, Eskrima, Powerlifting and Wheelchair Basketball. With a help of OctaFX, BSF established Bali Wheelchair Rugby Club Championship and trained best players to compete in Bali 4's International Wheelchair Rugby Tournament, taking place July 22-26 as a part of Bali International ParaGames 2015. OctaFX top-management volunteered to attend the tournament, assisting in organization and running of the event! “We pay a lot of attention to the problems of disabled people in Indonesia, and helping BSF was our aim coming here: we’ve been meeting people from Bali’s NGOs, talking to sportsmen with various conditions, supporting them throughout the competition. It’s been an unforgettable experience, as I am convinced – help can come from both financial and human side of our company”. Joanna Archer “Helping running this event I realized what a great job BSF members of staff are doing. Sport has become an essential part of the lives of physically challenged people in Bali. Watching them playing wheelchair rugby with all the passion and dedication they have has become a great inspiration for all of us. I hope that our support will continue to bring more happiness to those in need”. Olivia Claes Rodney Holt, the founder of Bali Sports Foundation expressed a feeling of gratitude to OctaFX company for helping financially and being present at the event: “it’s very important for athletes to see the support, getting both new equipment and meeting new people. It builds an atmosphere of the competition, gives sportsmen confidence and makes them goal-oriented”. Stay tuned to see more photos from Bali 4's International Wheelchair Rugby Tournament. Video chronicle of the competition with participants’ interviews and insights is coming soon! OctaFX. You are always welcome! Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today! Please stay tuned for the news and updates from OctaFX! Wishing you luck and profitable trading, yours truly, OctaFX!

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!

United States IBD/TIPP Economic Optimism (MoM) came in at 46.9 below forecasts (48) in August FXStreet.com (Barcelona) For more information, read our latest forex news. Aug 04,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

Canada manufacturing sector slows in July FXStreet (Mumbai) - The seasonally adjusted RBC Canadian Manufacturing PMI dipped from June’s six-month high of 51.3 to 50.8 in July, signalling a slowdown in the economic activity. Key findings “Output growth moderated from June’s six-month high. Renewed fall in employment levels.” “The rate of input price inflation was the fastest for three months, with a number of manufacturers noting higher prices for imported components and raw materials. Increased cost burdens in turn contributed to the most marked rate of factory gate price inflation since February.” As per Paul Ferley assistant chief economist, RBC, “The RBC PMI indicates a second consecutive month of improving business conditions in July though still at a very modest pace and slightly below that achieved in June. As we enter the second half the year, a strengthening U.S. economy and weaker Canadian dollar should provide a greater boost to exports and business conditions for manufacturers.” Aug 04,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

USD/CAD retreats from 1.3180 FXStreet (Edinburgh) - After hitting fresh cycle highs around 1.3180 during the Asian trading hours, USD/CAD has returned to the 1.3130 area ahead of US data. USD/CAD attention to US, CAD data The pair is momentarily snapping a 4-session positive streak following the offered tone around the greenback, which is advancing from last week’s lows in the mid-1.2800s. The persistent weakness around crude oil prices has been heavily weighing on the Canadian dollar as of late, along with the bearish perspectives of the economy, all lifting spot to fresh multi-year tops near 1.3200 the figure overnight. Next of relevance in the pair will be US Factory Orders – expected at 1.8% MoM in June – and Canadian Manufacturing PMI gauged by RBC. USD/CAD relevant levels At the moment the pair is retreating 0.22% at 1.3126 with the immediate support at 1.3103 (low Aug.4) ahead of 1.2940 (low Jul.31) and then 1.2861 (low Jul.29). On the flip side, a breakout of 1.3176 (high Aug.4) would open the door to 1.3200 (psychological level). Aug 04,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

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!

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!

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!

USD/CAD revisits highs as oil slumps FXStreet (Córdoba) - USD/CAD rose to fresh 10-year highs on Monday as the loonie weakened in tandem with oil, which dropped more than 3.0% to near $45.00 a barrel. USD/CAD peaked at 1.3175 but pulled back amid profit taking and a softer greenback on the back of disappointing macroeconomic data. However, following a short-lived setback, USD/CAD resumed the rise and it is currently trading at the 1.3160 zone, recording a 0.54% gain on the day. USD/CAD technical levels In terms of technical levels, immediate resistances are seen at 1.3175 (Aug 3 high), 1.3200 (psychological level) and 1.3150 (Aug 31 2004 high). On the downside, supports could be found at 1.3100 (psychological level), 1.3078 (Aug 3 low) and 1.3018 (10-day SMA). Aug 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

GBP/USD: one to watch this week - UOB FXStreet (Guatemala) - Analysts at UOB Group noted that this week promises to be an interesting one for the UK with the decision of the BoE MPC meeting to be announced, the minutes of the meeting to be released, as well as the August BoE Inflation Report to be published on Thursday. Key Quotes: "BoE Governor Carney will also be presenting his accompanying press conference on the Inflation Report 45-minutes later. After the 9-0 vote last time, markets are expecting a 7-2 vote for no change in rates, with some risk of a 6-3." "Whilst previous dissenting votes have not been a good indicator of a change in policy, and there have been plenty of false starts to the rate hiking cycle in the UK; this time it is a little different, with wage growth climbing for the first time and the unemployment rate down at 5.6%, the lowest since 2008. Even a dove like David Miles seems to be taking a hawkish tack in his latest speeches." Aug 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

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!