OctaFX_Farid

USD/CAD bounces off 1.1220 FXStreet (Edinburgh) - After bottoming out near 1.1220, the USD/CAD is now extending its rebound to the mid-1.12s ahead of the Canadian docket. USD/CAD eyes key data The pair is correcting lower from multi-year peaks around 1.1280, printed post-FOMC on Wednesday. Spot would be in the limelight during the European afternoon, as Canadian inflation figures during February (BoC 1.1% YoY exp.) and January’s retail sales are due (headline 0.7% exp.) ahead of key Fedspeak. “Our hunch is that the consensus is looking for today’s Fed speak to ‘soothe’ some of the fears instigated by Wednesday’s FOMC, so we’d be cautious about buying USDCAD 1.122-1.125 if the data are on the better side”, commented Stephen Gallo, European Head FX Strategy at BMO. USD/CAD levels to consider As of writing the pair is advancing 0.04% at 1.1251 with the next resistance at 1.1300 (psychological level) ahead of 1.1669 (61.8% of 1.3066-0.9407) and then 1.1680 (high Jul.10 2009). On the flip side, a breakdown of 1.1122 (low Mar.19) would target 1.1045 (daily cloud top) and finally 1.1025 (low Mar.18). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 21, 2014 OctaFX.Com News Updates

EUR/USD capped by 1.3800 FXStreet (Edinburgh) - The key 1.3800 level still remains elusive for EUR bulls on Friday, with the EUR/USD gearing up at the 1.3790/95 area. EUR/USD lifted by risk appetite The pair is smiling again against a backdrop of better risk sentiment today. Spot is currently pushing to break above the 1.3800 handle, as the sedative effects from the FOMC statement are slowly dissipating. A wider EMU’s Current Account surplus during January would also be adding to the optimism. “While we cannot rule out that this week’s hawkish Fed messages could prove a turning point for EUR/USD, we do not think a massive sell-off will be seen from here in the near term”, noted Jens Pedersen, Analyst at Danske Bank. EUR/USD levels to watch The pair is now up 0.08% at 1.3789 with the next resistance at 1.3805 (Kijun Sen) ahead of 1.3811 (21-d MA) and then 1.3845 (high Mar.20). On the downside, a breach of 1.3749 (low Mar.20) would open the door to 1.3722 (50% of 1.3477-1.3967) and finally 1.3720 (low Mar.6). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 21, 2014 OctaFX.Com News Updates

OctaFX Champion - A Splendid Demo Contest from your top Broker! Current update of OctaFX Champion Demo Contest! *Currently our top contestant antekRenwo from Indonesia has piled up with Equity/Balance $10 936.88. So, come and grab the opportunity and be the part of matchless traders. Please visit here to see full contestants list http://www.octafx.com/contests/octafx-champion/rating/ Wishing you luck and profitable trading! 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!

Obama announces more sanctions against Russia FXStreet (Łódź) - US president Barack Obama said on Thursday that additional Russian officials would come under US sanctions, which would also be broadened to other "key sectors of the Russian economy." The president suggested that the events in Ukraine were heading towards an escalation with the country's southern and eastern parts under threat of Russian invasion. "Diplomacy between the U.S. and Russia continues. We've emphasized that Russia still has a different path available," Obama said at the White House. "We want the Ukrainian people to determine their own destiny and to have good relations with the United States, Russia, Europe, with anyone they choose." Later today Obama will also make a statement on the situation in Ukraine. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 20, 2014 OctaFX.Com News Updates

USD and Yellen; Mind the gap - HSBC FXStreet (Guatemala) - Daragh Maher, FX Strategist at HSBC, explained the gap between end of QE and first rate hike is what counts. Key Quotes: “Tapering no longer captivates the market. We argued back in January that the key driver to the market would become the expected gap between the end of QE and the first rate hike”. “Yellen's suggestion last night that this gap might only be 6 months caught the market by surprise and provoked widespread USD buying. Unless the Fed back-tracks in future comments, this should provide further support for the USD”. “The chart below the expected gap between QE end and the first hike, based on Bloomberg surveys and Fed funds futures for when the policy rate should reach 0.50%. Three phases are worth noting”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 20, 2014 OctaFX.Com News Updates

USD/JPY muted after US data FXStreet (Córdoba) - The USD/JPY continues to consolidate in a slim range Thursday as investors digest the latest FOMC statement, unable to set a short-term direction with the latest string of US data having virtually no impact on the cross. The USD/JPY has spent the entire day consolidating the previous' day gains, trading within 102.20 and 102.55. At time of writing, the USD/JPY is trading at the 102.40 zone, virtually unchanged on the day. While US jobless claims came in better-than-expected, existing home sales unexpectedly fell in February while Philly Fed manufacturing index beat expectations. USD/JPY technical levels "USD/JPY gains had been modest compared to dollar European crosses, albeit the pair is far from even testing critical levels: contained below 102.60 Fibonacci resistance, the hourly chart shows indicators corrected most of the overbought readings and approach their midlines, while 200 SMA offers short term support currently around 102.10", said Valeria Bednarik, analyst at FXStreet. "In the 4 hours chart a mild bullish tone prevails, albeit unless a clear advance beyond mentioned resistance, the upside will likely remain limited". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 20, 2014 OctaFX.Com News Updates

EUR/JPY recovers the 141.00 position and trades at 141.20 FXStreet (San Francisco) - The risk appetite is back on the market with the Euro gaining ground against the Japanese Yen following the upbeat Philly Fed number released today. The EUR/JPY jumped around 35 pips in the latest few minutes from 2-day low at 140.80 to price at 141.20. Pair is currently trading at 141.11, 0.30% negative in the day. The short term perspective is now slightly bullish according to the FXStreet trend index. CCI and Momentum are pointing to the north while the Stochastic and MACD are neutrals. EUR/JPY sentiment "We've made a few probes below trendline support at 140.90 but keep popping back into the range and now trade at 141.15," commented Jamie Coleman from FXBeat. "US equities have turned higher on the day after upbeat data from the Philly Fed. The hope is that the upbeat data translates to strong ISM data on April 1." Below the 140.80/90 area, the pair would face supports at 140.70 and 140.45. On the upside, resistances are at 141.40 area, 141.70 and 141.90. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 20, 2014 OctaFX.Com News Updates

US EIA Natural Gas Storage change: -48B March 14 vs -195B Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 20, 2014 OctaFX.Com News Updates

OctaFx.com - PERSIB Bandung captain Firman Utina dares you to dream!!! Out partnership with FC PERSIB encouraged us to create a series of interviews with the most prominent players, as we want you to draw inspiration from people we have common values with. The first one to share his secret motivation is Firman Utina, Defensive Midfielder and Persib Captain. Firman Utina was born on 15 December 1981 in the village Komo Luar, District Tikala, Manado, North Sulawesi, area famous for frequent floods. That's where Firman spent his childhood playing football. Being 15 year old, Firman divided his time between working as a car washer and playing football as a hobby. He saved all earned money to provide himself with football practice, sutiated far from home. Firman Utina was born on 15 December 1981 in the village Komo Luar, District Tikala, Manado, North Sulawesi, area famous for frequent floods. That's where Firman spent his childhood playing football. Being 15 year old, Firman divided his time between working as a car washer and playing football as a hobby. He saved all earned money to provide himself with football practice, sutiated far from home. Firman Utina had started his football career at the junior football club Indonesia Muda Manado and then moved to another club called Bina Taruna. Thank to his persistence to continue diligent practice, Firman became increasingly proficient in football. After his 3 year collaboration with Bina Taruna, he got recruited by Persma Junior, in a unique way - not through selection mechanisms like another players, but after he was able to score 12 goals in one game at a local club tournament in Manado. Intrigued by the success of one local striker who can score a dozen goals in one match, coach Beni Dollo immediately invited him to join with Persma. Without any doubt, Firman Utina accepted the proposal. Continuously trained by Beni Dollo, Firman was showing increased progress. His determination to pursue a football career grew stronger with each practice, and that made Beni Dollo recruit Firman to every team he was coaching. That's how a nickname “Golden Boy” appeared. Like most other players, Firman Utina aspired to be a player of PERSIB Bandung. Because of that, he was pleased when Coach Djadjang Nurdjaman recruited him ahead of the Indonesian Super League (ISL) 2012/2013. Firman Utina said: “To join a great team is a dream of every player. PERSIB certainly is a great team, so, when the offer came, I didn't hesitate to accept it”. Having a high cruising, nice skill, good vision and leadership qualities Firman Utina became a central figure in midfield PERSIB. Number 15 plans to stay in the world of football until the end of his life claiming to have a career as a coach when it's time to retire. Now he just wants to focus on playing football and do not have any sideline activities. Watch OctaFX Key To Success Firman Utina On Youtube. Follow your dreams with OctaFX - a proud sponsor of PERSIB Bandung FC. Please stay tuned for the news and updates from OctaFX! Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today!

GBP/JPY drifting south, losing 169 handle FXStreet (Guatemala) - Sterling had the BoE today that underpinned the pounds strength on the European session, lifting GBP/JPY to a high of 169.14. The minutes revealed that the UK economy is broadening its recovery but there is still some way to go before the recovery is sustainable and balanced. Meanwhile, markets are nervous ahead of the sales ta hike on 1st April. GBP/JPY Levels The 20 DMA is 170.45, the 50 DMA is 170.05 and the 200 DMA is 160.90. RSI (14) reads 53.25. Supports are ascending from 166.15,166.80, 167.20 and 167.55. Spot is 168.80 while resistances are 169.20, 169.60,170.20 and 171.60. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 19, 2014 OctaFX.Com News Updates

AUD/USD finds support sub-0.9100 FXStreet (Córdoba) - The AUD/USD is staging a pullback from its 3-month high of 0.9137 scored during the Asian session, moving in tandem with gold that is also in retreat. The AUD/USD came under pressure Wednesday and even fell below the 0.9100 mark, although briefly, amid broad USD strength ahead of the Federal Reserve verdict. At time of writing, the AUD/USD is trading at the 0.9105 zone, recording a 0.2% loss on the day and with a low set at 0.9094 so far. AUD/USD technical outlook From a technical perspective, "the hourly chart shows price below its 20 SMA and indicators presenting a mild bearish tone in neutral territory, more suggesting a pause before a new leg up than a top", says Valeria Bednarik, chief analyst at FXStreet. "In the 4 hours chart the bullish tone remains healthy, albeit a clear confirmation above 0.9130 is required to see a new leg up". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 19, 2014 OctaFX.Com News Updates

Gold's falls below 1,350 after 3-day decline FXStreet (San Francisco) - The gold is extending declines from March 17 high of $1,394 as today the pair broke the 1,350 support to trade at lows since May 10 at 1,337.65. At this moment, the XAU/USD is pricing at 1,338.53, 1.45% negative in the day. "Gold extends its slide to a fresh 8 day low, breaking below its 20 SMA in the daily chart, and gaining bearish momentum in the mentioned time frame," comments Valeria Bednarik, FXStreet chief analyst. With the FED around the corner, "the metal will likely consolidate in the short term, yet a break below the daily low with the news should lead to a test of the 1,327 immediate support, while once below this last 1,318 comes next," Bednarik adds. Resistances for today, come at 1,354, and 1,367. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 19, 2014 OctaFX.Com News Updates

OctaFx.com - Word it Out February Clients Choice award goes to trader from Indonesia!!! The February round of review contest Word it Out gathered your latest opinions on OctaFX services, and as the course of competition brings us closer to the main OctaFX Special Choice award, today we congratulate OctaFX Clients Choice February winner – Mr. Apip Yudiana from Indonesia. Mr. Apip Yudiana’s review gathered 335 likes and we award its author with a brand-new iPhone. The review itself outlined OctaFX as a company giving trading freedom and we cannot be happier about this kind of feedback. Mr. Apip Yudiana claims to be happy to receive this award – “I really never thought I could get this award”. Well, OctaFX is always glad to exceed trader’s expectations. Telling us how he hit the top of February list, the author shared his approach – “I promoted my links through friends, relatives and I even promoted it through websites and forums too“. Because OctaFX already is a part of my days, and is making a difference in me personally, I can say that, going forward, I will promote OctaFX more actively. Because only OctaFX forex broker provides comfort in trading. Mr. Apip Yudiana – February Clients Choice award winner. We would like to thank everyone for participation in the Word It Out February round – remember, every opinion matters! Moreover, do not forget that the main prize – Mac Book Air awaits the most honest, precise and artful reviewer – stay tuned and check Company News page to know the luckiest author in less than 2 weeks! Spend your luckiest days with OctaFX! Please stay tuned for the news and updates from OctaFX! Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today!

EUR/USD got nervous due to sudden pound weakness FXStreet (Moscow) - EUR/USD was trading close to session highs, but bounced back to 1.3910 area scared by the cable sell-off. Spill-over effect from the pound EUR/USD followed the move down after GBP/USD lost more than 50 pips in an hour. The prime seller of the pound is rumored to be a custody bank. The significant amount of the transaction means it is the move within some strategic frame, thus the sell-off interest may have spill-over effect on other European currencies, as happened with the euro already. By the time of writing, it reached 1.3907 low from 1.3937 session high posted in Asia. Nevertheless, the move down will be complicated by the noted buyers’ interest around 1.39 area, with more around 1.3885. What are today’s key EUR/USD levels? Today's central pivot point can be found at 1.3916, with support below at 1.3884, 1.3845 and 1.3813, with resistance above at 1.3955, 1.3987, and 1.4026. Hourly Moving Averages are bullish, with the 200SMA at 1.3869 and the daily 20EMA bullish at 1.3805. Hourly RSI is neutral at 56. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 18, 2014 OctaFX.Com News Updates

GBP/USD dips below 1.6600 FXStreet (Edinburgh) - The sterling is quickly losing ground on Tuesday, pushing the GBP/USD to fresh intraday lows in sub-1.6600 levels. GBP/USD focus on Carney’s speech today A bout of selling orders is now dragging spot to the lower band of the weekly range near 1.6590, down from the mid-1.66s just moments ago. There are no data releases in the UK today, although Governor Carney’s speech in the European evening would grab traders’ attention. Ahead in the week, key labour market figures are due tomorrow (ILO u-rate at 7.2% exp.) followed by the BoE minutes (expected a non-event), and all ending with the FOMC gathering. “We suspect that the market will need to break back below 1.6532 (the 8 month uptrend) in order to re-focus attention on to the 1.6259/29 support zone which remains key (September high and the 23.6% retracement of the move up from July 2013)”, commented Karen Jones, Head of FICC Technical Analysis at Commerzbank. GBP/USD levels to watch The pair is now losing 0.23% at 1.6598 with the next support at 1.6587 (low Mar.14) followed by 1.6568 (low Mar.12) and then 1.6553 (50-d MA). On the flip side, a breakout of 1.6667 (high Mar.17) would open the door to 1.6719 (high Mar.13) and finally 1.6745 (high Mar.10). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 18, 2014 OctaFX.Com News Updates

50% Deposit bonus OctaFX is all about making your trading experience convenient and outstanding, driving forex trading to a whole new level. Deposit to your account and we will give you a bonus of 10% to 50% of your deposit for free! This is a perfect way to increase total amount of funds in your account. All you need to do is deposit to your real account and verify it. Please carefully read the promotion rules below OctaFx is all about making the clients trading safe, convenient and fun. keep trading, we'll take care of the rest!

Flash: AUD/USD more gains above 0.9100 - FXStreet FXStreet (Córdoba) - Valeria Bednarik, chief analyst at FXStreet notes the AUD/USD presents a limited positive tone in short-term charts. Key Quotes "The positive mood among stocks traders is giving a nice support to Aussie, which trades near its daily high, with the hourly chart showing a strong upward momentum and RSI nearing overbought territory". "In the same time frame, 20 SMA heads higher below current price while the 4 hours chart technical readings present a more limited positive tone, with recent highs around 0.9100 as immediate resistance level to break to gain further bullish tone". "Support levels: 0.9040 0.9000 0.8960. Resistance levels: 0.9100 0.9130 0.9170". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 17, 2014 OctaFX.Com News Updates

Flash: Japanese trade deficit could be reverted - BBH FXStreet (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman, expects February's trade balance in Japan to show improved figures. Key Quotes "Japan is likely to report a marked improvement in its February trade balance. The January trade shortfall was JPY2.79 trln." "It was likely distorted by seasonal factors and the Lunar New Year. The consensus for the February deficit is near JPY602 bln." "This probably understates the real size of the Japanese monthly trade deficit. The 12-month average is near JPY820 bln." "At the same time, a seasonal improvement in investment income suggests a trade deficit this size may not fuel a current account deficit. The streak of four consecutive monthly current account deficits may come to an end when the February balance is reported in early April." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 17, 2014 OctaFX.Com News Updates

Flash: USD/CAD retains the bullish bias - TD Securities FXStreet (Barcelona) - Shaun Osbourne, Chief FX Strategist at TD Securities, remarks the bullish outlook of the USD/CAD. Key Quotes "USDCAD remains trapped in a right range. Event risk is evident for the CAD this week as well—Governor Poloz speaks Tuesday at the Halifax Chamber of Commerce in NS and will hold a press conference afterwards." "On Friday, Canada releases key data—retail sales and CPI—which may go some way to shaking the CAD out of the consolidation range in place in the past few weeks—one way or the other. We favour s topside break out above 1.1130." "USDCAD retains a heavy bias so far today. The CAD is well-supported alongside the broadly firmer AUD and NZD, while safe-haves such as the JPY and CHF are under-performing.USDCAD is pressuring support in the mid 1.10 area and easing below the 40-day MA at 1.1072 in early trade today—though we don’t think the move is likely to extend too far at present." "We still rather think the underlying trend in funds is higher, supported by improving US fundamentals, Fed tapering and the less than dynamic growth backdrop in Canada which has encouraged a significant narrowing in spreads in the belly of the curve in the past few months, with US-Canada 5 year spreads tracking a little below flat again today helping support the USD arou8nd 1.1050/70." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 17, 2014 OctaFX.Com News Updates

Swap free trading with OctaFx OctaFX offers swap-free accounts to their clients. Whether or not your beliefs or trading strategy require swap-free trading, you can always open a swap-free account at OctaFX . You can always apply for a swap-free account at registration, no matter whether you choose a Micro or ECN account. No overnight charges will be applied to your account. OctaFX respects various trading strategies and does its best to meet every possible client's requirements and expectations. To apply for a swap-free account please check the box "Swap-Free" when opening your account. Your account will be automatically assigned swap-free status. Please stay tuned for the news and updates from OctaFX! Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today!

Moody’s upgrades EU outlook from negative to stable, rating FXStreet (Córdoba) - FXStreet (Córdoba) - Moody’s Investor Service affirmed the highest rating (Aaa) for the European Union and upgraded the outlook from negative to stable, on the back of an improvement in the credit outlook of Germany, Netherlands, Belgium, Italy and Spain and on diminishing risks from the Euro area debt crisis. Key Quotes: “The key drivers of today's outlook change are as follows:(1) The improvement in the creditworthiness of the EU's largest shareholders, which it depends on for additional support in high stress scenarios. (2) Diminishing risks emanating from the euro area debt crisis, which alleviates pressure on asset quality”. “The key drivers for today's affirmation of the EU's Aaa/(P)P-1 ratings are: 1) The joint and several liability of member states with regard to their obligations to the EU. 2) The EU's multi-layer debt-service protection. 3) The EU's conservative budget management”. “Risks to the creditworthiness of the EU and to its rating include a deterioration in the creditworthiness of the EU member states, as reflected in downgrades of Moody's ratings for these states. The EU's rating is particularly sensitive to changes in the ratings of the four countries rated Aaa or Aa1 that make large contributions to the EU budget (i.e., Germany, France, the UK and the Netherlands). A weakening of the commitment of the member states to the EU and changes to the EU's fiscal framework that would lead to less conservative budget management would also be credit negative”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 15, 2014 OctaFX.Com News Updates

Flash: Risk in the form of the referendum in Crimea - BBH FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted that the weekend poses risk in the form of the referendum in Crimea. Key Quotes: "The weekend poses risk in the form of the referendum in Crimea, where the choice is between leaving the Ukraine and joining Russia. The Crimean parliament has already approved independence." "Of course, much of Europe, the US and Japan have warned that they do not recognize the referendum. China may be quiet on the issue, and strategically, why not? From the point of its own domestic interest, China could not accept the legitimacy of a referendum by one of its minority populations (e.g. Tibet or Taiwan) from seeking independence." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 15, 2014 OctaFX.Com News Updates

Gold finishing up at highs for the week FXStreet (Guatemala) - Gold is finishing up through $1,380 and strategists at TD Securities noted the rally extended further this week and the rally is starting to put some important resistance levels under a little more pressure. “Pullback resistance off the May 2012 low/August 2013 high at 1393.30 may be tested next week and, just above there, the August 2013 high (and potential double bottom trigger) at 1433 looms very large. So far since gold stabilized last year, the market has failed to make a new, major cycle high sop gains through the low 1400 area would be technically significant. Trend momentum favours more gains, suggesting that the 1400 area is likely to be tested sooner rather than later. Key support now is 1320; the rally will unravel very quickly below there”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 14, 2014 OctaFX.Com News Updates

OctaFX.Com - Why choose OctaFX? No requotes In OctaFX you will forget about requotes. Whatever market conditions we will always execute your order. True ECN Being an ECN broker, OctaFX guarantees your positions offset. OctaFX is not a market maker, we do not place any opposite or any other trades. This said, we are directly interested that our clients make profit! Client-oriented OctaFX is indeed a client-oriented company. This said, we are working hard to further improve our services. Stability, perfection and close attention to details is what makes OctaFX different from our competitors. Our highly educated and well-trained Customer Care Department works 24/5 to answer your inquiries and help you. Advanced trading software OctaFX offers Metatrader 4 trading software — a leading forex trading platform in the world. With its great flexibility and advanced functionality that earned recognitions from traders around the world. Reliability and stability OctaFX enables highly protected environment, which eliminates any possible technical risks. Our server environment is monitored by highly proficient technical specialists. Great trading conditions OctaFX offers low spreads from 0.2 pips and up to 1:500 leverage with microlots (0.01 size) available for everyone. Segregated accounts In accordance with the international regulation standards OctaFX uses segregated account to keep protected customers' funds segregated from the company's assets. This makes your funds secure and safe. No restrictions for trading (scalping, hedging, news, EAs, etc) OctaFX canceled all the restrictions for trading techniques. Therefore any trading strategy is welcomed. Whether scalping, hedging, news trading or EAs — you are welcome to apply these trading strategies at OctaFX . Swap free accounts Due to growing demand OctaFX introduced swap-free accounts. Whether your beliefs or trading strategy requires swap-free trading, you can always open a swap-free account at OctaFX . Promotions and contests OctaFX offers a number of the coolest promotions and contests. Be the first to win the contest or receive amazing bonus at OctaFX . Stay tuned for the news in our Promotions section. Please stay tuned for the news and updates from OctaFX! Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today!

Flash: Draghi reveals a euro target – HSBC FXStreet (Guatemala) - Strategists at HSBC sight 1.40 as a soft target and 1.45 as a hard target, noting that the ECB stepped up its rhetoric when the euro was about to breach 1.40. Key Quotes: “This is no freak of nature. This deliberate stance is because the ECB needs to stop a move to 1.45 and beyond that could cause it to miss its mandate”. “Draghi has admitted that the EUR is becoming "increasingly relevant" in the central bank's assessment of price stability, but also argues that the ECB does not target the exchange rate. However, this stance is slowly being unpicked especially as the move has been slow and volatility is not a factor. The secret is being revealed -- the level matters. If the EUR continues to rise, it threatens their mandate and on this basis it's open season”. “ The ECB's mandate is inflation close to, but below, 2%. The current staff forecasts suggest inflation will be back to 1.7% by Q4 16 -- in line with the ECB's mandate. Hence the ECB is not worried about disinflation”. “Importantly this assumes an unchanged exchange rate, or around 1.36 on EUR/USD. Now the question is -- what would the exchange rate have to move to make them worry about missing their inflation target?”. “Draghi said each 10% permanent effective exchange rate appreciation lowers inflation by around 40 to 50 basis points. Realistically, any exchange rate move would likely have to point to inflation being sub-1.5% for it to be worthy of action. So what exchange rate level would get inflation from their 1.7% forecast to below 1.5%?”. “Using the ECB's ready reckoner, it would point to a pain threshold of 1.45. Most likely, the ECB recognises that were EUR to gain a foothold above 1.40, it could easily push on to 1.45. Better to draw the line at 1.40 than wait for 1.45”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 14, 2014 OctaFX.Com News Updates