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GBP/USD stabilizes after pullback FXStreet (Córdoba) - The GBP/USD is taking a breather just above daily lows, after BoE Governor dovish comments sent the pair to 6-day lows. Speaking before the Treasury Select Committee Governor Mark Carney repeatedly said the exact timing of the first rate move would be "data driven". Carney also said the timing of a rate move is less relevant than the pace of rate increase. "The path of interest rates is likely to be limited and gradual," he said. The GBP/USD broke below 1.7000 and slid toward a low of 1.6973 before stabilizing in a range. At time of writing, the Cable is trading at 1.6985, down 0.23% on the day, after the latest recovery attempt was capped by 1.7005. GBP/USD technical levels As for technical levels, the GBP/USD could find next supports at 1.6968 (10-day SMA), 1.6920 (Jun 18 low) and 1.6900 (psychological level). On the other hand, resistances are seen at 1.7030 (Jun 24 high), 1.7062 (2014 high Jun 19) and 1.7100 (psychological level) ahead of 1.7180 (Oct 10 2008 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 24, 2014 OctaFX.Com News Updates

Fed's Plosser sees a broad-based recovery in the US FXStreet (Łódź) - Fed's Plosser sees a broad-based recovery in the US Philadelphia Fed president Charles Plosser said on Tuesday that US job creation and growth could exceed expectations this year, bringing the first rate hike closer. Plosser saw US GDP exceeding 2.4% in 2014, and then falling slightly in 2015. Unemployment is expected to drop to 5.8% by the end of this year and to 5.6% by the end of the next. The Fed policymaker added that inflation seems to be firming. "The current data suggest economic strength is fairly broad-based," he stressed. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 24, 2014 OctaFX.Com News Updates

Slovakia Current Account Balance EUR increased to €106M in April from previous €70M Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 24, 2014 OctaFX.Com News Updates

Fed's Plosser sees a broad-based recovery in the US FXStreet (Łódź) - Fed's Plosser sees a broad-based recovery in the US Philadelphia Fed president Charles Plosser said on Tuesday that US job creation and growth could exceed expectations this year, bringing the first rate hike closer. Plosser saw US GDP exceeding 2.4% in 2014, and then falling slightly in 2015. Unemployment is expected to drop to 5.8% by the end of this year and to 5.6% by the end of the next. The Fed policymaker added that inflation seems to be firming. "The current data suggest economic strength is fairly broad-based," he stressed. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 24, 2014 OctaFX.Com News Updates

Turkey Manufacturing Confidence down to 110.7 in June from previous 113.3 Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 24, 2014 OctaFX.Com News Updates

Turkey TCMB Interest Rate Decision declined to 8.75% in June from previous 9.5% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 24, 2014 OctaFX.Com News Updates

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USD/JPY steady after US Markit PMI FXStreet (Córdoba) - The USD/JPY entered a consolidation phase after sliding throughout the Asian session, erasing Friday’s gains, with a better-than-expected US Markit PMI reading having virtually no impact on the dollar. The USD/JPY fell to a low of 101.80 as the dollar remains on the back foot following a FOMC meeting last week, which offered little indication the Fed will hike rates anytime soon. However, the pair managed to stabilize and has spent the last hours trading within a narrow range below 102.00. USD/JPY was last down 0.20% at 101.85. USD/JPY technical outlook “The USD/JPY moves back and forth around 102.00, presenting a bearish tone in the short term, as price develops below moving averages and indicators stand in negative territory, with momentum presenting a bearish slope”, said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart technical readings continue hovering around their midlines. Immediate support stands around 101.65, and a break below it is required to confirm a downward continuation towards 101.20/30 price zone”. In terms of technical levels, Bednarik locates next supports at 101.65, 101.20 and 100.70. On the flip side, resistances are seen at 102.00, 102.35 and 102.80. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 23, 2014 OctaFX.Com News Updates

GBP consolidating recent gains - FXStreet FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that despite having shown little follow through the GBP maintains its strength, trading above the 1.7000 figure against the greenback, consolidating its recent gains. Key quotes "Trading in a tight 60 pips range for second day in a row, the 4 hours chart shows that while price holds above a bullish 20 SMA, indicators turned lower and approach their midlines, diverging from price action." "Mentioned SMA offers short term support around 1.7010 now, yet a downward acceleration through 1.7000 is required to confirm a bearish movement that can extend down to 1.6950 strong static support." "The upside is favored yet messy, with a clear break above 1.7060 needed to confirm a bullish leg towards 1.7100 for today." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 23, 2014 OctaFX.Com News Updates

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AUD awaits RBA speaker – TDS FXStreet (Guatemala) - Analysts at TD Securities note that it is a thin week for AUD next week. Key Quotes: “A thin week for AUD next week, limited to an update on job vacancies (skilled and ABS measure), RBA Dep Gov Lowe speaks (but on a panel for G20 so unlikely to cover monetary policy or economic outlook) and the Q1 financial accounts updates portfolio flows (we expect a blockbuster inflow of capital into the fixed income market)”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 20, 2014 OctaFX.Com News Updates

EUR/NOK to fall below 8.00 this year - UBS FXStreet (Córdoba) - The UBS analyst team commented that they stick to their view EUR/NOK will fall below 8.00 later this year even after the Norges Bank postponed its forecast for the first rate rise to Q3 2016. Key Quotes “The Norges Bank surprised by postponing their forecast for their first rate hike to Q3 2016 (previously summer 2015)”. “This was based on two factors: a lower outlook for interest rates in the euro, amongst others, and weaker expected oil investments. Given the uncertainty surrounding the latter, this move strikes us as overdone”. “EUR/NOK jumped to 8.30, but unless we see confirmation for fundamentally lower growth potential, we stick to our view of EUR/NOK falling below 8.00 later this year”.." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 20, 2014 OctaFX.Com News Updates

Pound remains the strongest and price action confirms it - FXStreet FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that the GBP is still the strongest among majors and price action confirms it. Key quotes "Some mild weak numbers were so far not enough to affect the strength of the currency, and it will take more than a month of disappointing readings to take it down." "In the meantime, market will continue pricing in a rate hike by the ends of this year, and positive macro data will only fuel the rally." "For this week, the UK will offer inflation hearings and its financial stability report, but the key event will be GDP readings on Friday: a strong final number for the quarter, currently at 0.8% should continue to support the bullish trend in the midterm." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 20, 2014 OctaFX.Com News Updates

EUR/USD retraces half of weekly gains FXStreet (Córdoba) - The EUR/USD finally failed to sustain gains and dipped back below the 1.3600 mark at the beginning of the American session. The EUR/USD erased not only its daily advance but alseo yesterday’s rise, sliding all the way back to the 1.3575 area amid some profit taking flows ahead of the weekend and crosses (EUR/CAD & EUR/GBP)weighing. At time of writing, the EUR/USD is trading at 1.3580, down 0.18% on the day, although still headed for a weekly gain of 0.29%. The US dollar came under pressure Wednesday after a more dovish than expected Fed stance fueled expectations it will take a while before the bank starts hiking rates. EUR/USD technical levels In terms of technical levels, the EUR/USD could find next supports at 1.3565 (10-day SMA), 1.3540 (Jun 18 low) and 1.3500 (psychological level). On the other hand, resistances are seen at 1.3642 (Jun 19 high), 1.3663 (200-day SMA) and 1.3700 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 20, 2014 OctaFX.Com News Updates

Mexico Retail Sales (MoM) increased to 1.1% in April from previous 0.8% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 20, 2014 OctaFX.Com News Updates

Slight upside risk to Canada's headline CPI - TD Securities FXStreet (Łódź) - Tim Davis, Vice President and Global Strategist at TD Securities, expects the Canadian all-items CPI for May to increase by 0.2% m/m in May, due in large part to seasonal factors, while the core index is forecast to increase by 0.3% m/m. Key quotes "On a year-ago basis headline inflation should remain unchanged at 2.0% while core should nudge higher to 1.5%." "There is a slight upside risk to headline inflation and if our forecast is realized, both headline and core inflation in Q2 will run ahead of what the Bank of Canada had forecast in the April MPR." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 20, 2014 OctaFX.Com News Updates

Slovakia Unemployment Rate dipped from previous 13% to 12.8% in May Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 20, 2014 OctaFX.Com News Updates

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EUR/USD in ranges above 1.3600 FXStreet (Córdoba) - The EUR/USD has remained steady in the last hours, moving sideways above 1.3600. The pair peaked during the European session at 1.3642 and then pulled back to 1.3614. During the last six hours it has been moving in a range between 1.3614 and 1.3640, consolidating above 1.3600, headed toward the second gain in a row and to the highest daily close since June 6. EUR/USD gains momentum, but still far from 1.40 The FOMC statement released yesterday weakened the US dollar, favoring the downside in the EUR/USD. But despite rising more than 70 pips in the last two days still remains far from May highs. According to the Global Markets Research Team at the Bank of Tokyo Mitsubishi UFJ the recent package of monetary easing measures announced by the ECB has helped to reduce the scale of euro overvaluation, pushing the EUR/USD to the downside from near 1.4000. “The euro is now more modestly overvalued against the US dollar by around 5%. It supports our view that the euro will likely continue to gradually weaken in the year ahead as loosening ECB policy helps to further ease euro overvaluation”, the Team affirmed. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 19, 2014 OctaFX.Com News Updates

EU's Rehn: EU Member States should respect fiscal pact FXStreet (Łódź) - European Commissioner for Economic and Monetary Affairs Olli Rehn assured on Thursday that the EU fiscal pact is sufficiently flexible and that it is important for EU Member States to respect it. He suggested that at the upcoming Eurogroup meeting in Louxembourg, which will be his last as EU Commissioner, Finance Ministers would most probably focus on the fairness of EU fiscal rules. Rehn also said that France is expected to meet the EU deficit objective next year. Moreover, he added that Greece should meet bailout requirements with delays but that it would return to the correct fiscal path. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 19, 2014 OctaFX.Com News Updates

Mexico Private Spending (QoQ) rose from previous 0.1% to 0.2% in 1Q Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 19, 2014 OctaFX.Com News Updates

EUR/GBP points to consolidation – Westpac FXStreet (Edinburgh) - The cross would now attempt to consolidate the recent decline, before embarking in the next trip lower, commented analysts at Westpac. Key Quotes “The BoE’s minutes flagged the risk that growth may not slow as much as the BoE expects but lacked the hawkish smoking gun markets were looking for”. “EUR/GBP has come a long way now and positioning is arguably heavily short”. “EUR/GBP probably needs to consolidate recent losses for a while yet before the next down leg commences”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 19, 2014 OctaFX.Com News Updates

EUR/GBP points to consolidation – Westpac FXStreet (Edinburgh) - The cross would now attempt to consolidate the recent decline, before embarking in the next trip lower, commented analysts at Westpac. Key Quotes “The BoE’s minutes flagged the risk that growth may not slow as much as the BoE expects but lacked the hawkish smoking gun markets were looking for”. “EUR/GBP has come a long way now and positioning is arguably heavily short”. “EUR/GBP probably needs to consolidate recent losses for a while yet before the next down leg commences”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 19, 2014 OctaFX.Com News Updates

Not much to get worried about in UK retail sales data - TD Securities FXStreet (Łódź) - Tim Davis, Vice President and Global Strategist at TD Securities, comments on the UK retail sales data released earlier on Thursday, saying that looking through the details there's not much to get worried about. Key quotes "Fuel and especially food were the big downsides while most other components rose on the month. The food side is some unwind from the Easter adjustments still, and whatever World Cup effect there was in May (with football shirts selling well) will be even better in June, especially into some of the higher value items like TVs." "There was also evidence of decent discounting from retailers on the month which overall would continue to point to decent purchasing power from consumers." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 19, 2014 OctaFX.Com News Updates

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