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USD/CAD capped by 1.0980 FXstreet.com (Edinburgh) - The Canadian dollar is trading almost unchanged against its neighbour on Wednesday, taking the USD/CAD to the 1.0970/65 area ahead of the BoC meeting. USD/CAD focus on BoC The pair is extending its correction lower from multi-year highs beyond 1.10 posted yesterday, while investors wait for today’s BoC monetary policy meeting and next week’s FOMC gathering as the main catalysts for the pair. Sebastien Galy, Strategist at Societe Generale, commented, “The odds are low that the BoC will make a dovish statement, but the FX market is positioned for it and to a far lesser extent Canadian Fixed Income. The view seems to be that an overly bearish FX market will be squeezed as it doesn't get what it wants. While there is a risk of a minor consolidation, the money behind the bearish CAD move seems to have large pockets”. USD/CAD levels to watch At the moment the pair is losing 0.04% at 1.0965 with the immediate support at 1.0854 (38.2% Fibo retracement). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 22, 2014 OctaFX.Com News Updates

Flash: GBP/USD continues its joyride - FXSTreet FXstreet.com (Barcelona) - Valeria Bednarik, FXStreet Chief Analyst notes that GBP continues on its skyward surge. Key Quotes “Pound surge strongly across the board, boosted by UK employment data: the unemployment rate hit 7.1%, barely above BOE’s threshold of 7.0%.” “Although the Central Bank governor Mark Carney warned that 7.0% is not an automatic rate hike, investors run to price in the possibility, sending GBP/USD in a 10 minutes 100 pips ride towards 1.6550.” “Holding nearby, the 4 hours chart shows a strong upward momentum as 20 SMA also gains upward slope below current price that holds well above past weeks high of 1.6510. As long as above this last, the pair should maintain the positive tone, with a break above mentioned high favoring a continuation towards 1.6601, this year high.” “Below 1.6510, the pair is exposed to a fall towards latest intraday resistance in the 1.6450/60 area, while further losses seem unlikely for today.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 22, 2014 OctaFX.Com News Updates

USD/CAD drifts lower on choppy trading ahead of BoC FXstreet.com (London) - USD/CAD has drifted lower on choppy trading ahead of the Bank of Canada’s interest rate decision this afternoon. BoC to hold rates, MPR in focus The BoC will almost certainly hold rates at 1.0 percent, however, the main focus will be on the accompanying monetary policy report. The BoC is expected to again focus on Canada’s below-target inflation with a dovish bias. However, it is not expected that the central bank will move its stance towards further easing. Poloz will not hike rates until conditions improve Bank of Canada Governor Stephen Poloz has previously stated that he wouldn’t move to raise rates until there was an upturn in consumer spending and jobs growth. With Canadian employment falling by 45,000 jobs last month, the economy is a long way from Poloz’s stated conditions for rate hikes. However, he may be given a helping hand by the Fed’s schedule of tapering its asset purchase programme down from its current USD75bn a month. As US bond yields rise, so will Canadian yields, rising Canadian long-term rates. USD/CAD is down 0.05 percent on the session on choppy trading. It is currently trading at CAD1.0963 after creeping to a high of CAD1.0979. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 22, 2014 OctaFX.Com News Updates

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EUR/USD flirting with 1.3560 FXstreet.com (Edinburgh) - The EUR/USD recovered the mid 1.35 region on Tuesday after bottoming below 1.3520, although still navigating in the red territory. EUR/USD next big event, PMI prints Not much happening around the shared currency today, as there are no data releases in the US and market participants have already digested the mixed prints from January’s ZEW Survey. In another direction, the Spanish Treasury managed to sell 3m and 6m Letras at lower yields, extending the positive momentum in the peripheral bond markets. However, the EUR may find support towards the second half of the week, as market consensus expects advanced manufacturing/services PMI prints in the euro area to have improved during January. EUR/USD relevant levels As of writing, the pair is losing 0.06% at 1.3555 with the next support at 1.3508 (2014 low Jan.20) would clear the way to 1.3490 (low Nov.25) and finally 1.3463 (low Nov.22). On the flip side, a break above 1.3563 (high Jan.21) would expose 1.3567 (high Jan.20) and then 1.3600 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 21, 2014 OctaFX.Com News Updates

IMF hikes global growth forecast FXstreet.com (Łódź) - The International Monetary Fund released its updated World Economic Outlook on Tuesday, in which it indicated that global growth would pick up speed in 2014, but that the recovery would remain fragile. The IMF rose the global growth forecast from 3.6% seen in October to 3.7%. It urged advanced economies to maintain accommodative monetary policies in order to boost the slow growth. According to the IMF Chief Economist Olivier Blanchard: “The brakes to the recovery are progressively being loosened. The drag from fiscal consolidation is diminishing. The financial system is slowly healing. Uncertainty is decreasing.” The UK GDP forecast was raised significantly from 1.9% to 2.4%, which confirmed yesterday´s reports. As far as the Eurozone is concerned, the IMF saw it growing by 1% this year. Blanchard emphasized that the recovery in the area was weak and uneven and urged the ECB to reduce its financial fragmentation as soon as possible. He also pointed to a 10-12% deflation risk in the Eurozone. The growth outlook for the US was raised to 2.8% from 2.6%. The IMF Chief Economist said that the Fed policy framework and timing were reasonable and that he did not expect the FOMC to withdraw stimulus too soon. Furthermore the IMF rose its 2014 growth forecast for Japan to 1.7% from 1.2% seen previously. It also projected that the Chinese economy would expand by 7.5% this year. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 21, 2014 OctaFX.Com News Updates

AUD/USD recovers ground, erases losses FXstreet.com (Córdoba) - The AUD/USD managed to bounce from below 0.8800 and erased intraday losses during the American session, although the recovery has remained capped below the 100-hour SMA. The AUD/USD bottomed out at 0.8775 earlier but found buyers and regained the 0.8800 mark as the dollar loses shine across the board, also helped by US stocks gains. At time of writing, the AUD/USD is trading at the 0.8805 area, virtually unchanged since opening. AUD/USD technical perspective From a technical view, Valeria Bednarik, chief analyst at FXStreet noted that the AUD/USD holds a neutral to bearish tone in short-term charts. "Recoveries are still seen as selling opportunities, with the market holding a pretty bearish stance in the pair, eyeing 0.8500, RBA Glenn Steven's target", said Bednarik. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 21, 2014 OctaFX.Com News Updates

USD/CAD loses some bullish momentum from stronger than expected data FXstreet.com (London) - USD/CAD has lost some of the bullish momentum from stronger than expected manufacturing shipments data. Positive shipments momentum Canadian manufacturing shipments rose more than expected in November, up 1 percent month-on-month versus the consensus expectation for a 0.3 percent rise. While the downwards revision of October’s print to 0.7 percent translates to an inflation-adjusted 0.7 percent rise in November, it is still a positive sign of positive momentum. The report from the Canadian Imperial Bank of Commerce showed that transportation shipments were a “key driver”. Motor vehicle shipments gained 5 percent while machinery and equipment sales added 5.4 percent. Bank of Canada MPR But while the CIBC report has given the CAD some relief, markets may be reticent to push the Loonie too high ahead of tomorrow’s Bank of Canada monetary policy report and accompanying press conference. Bank of Canada Governor Stephen Poloz has previously stated that he wouldn’t move to raise rates until there was an upturn in consumer spending and jobs growth. However, with weak jobs numbers and inflation falling a long way short of BoC target rates, any rate hike is unlikely to come until mid-2015. While Poloz has abandoned his predecessor Mark Carney’s plans to steadily hike rates ,it may take a shift from neutral to a dovish stance in tomorrow’s MPR to put further pressure on an already battered CAD. Fed could aid BoC Poloz may be reticent to hike rates, however he may be given a helping hand by the Fed’s schedule of tapering its asset purchase programme down from its current USD75bn a month. As US bond yields rise, so will Canadian yields, rising Canadian long-term rates. Speaking in a television interview at the beginning of the month, Poloz stated that: “Those kinds of pressures are the positive ones – if the U.S. economy strengthens as we believe, those are very welcome market pressures.” USD/CAD is currently trading at USD1.0975, with the CAD selling off from its recovery to CAD1.0967. The pair remains in short-term bullish territory, up 0.20 percent on the open. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 21, 2014 OctaFX.Com News Updates

NZD/USD making a come back FXstreet.com (Guatemala) - NZD/USD has made a high of 0.8336 on a come back after a series of higher highs from below the 0.83 handle. Senior Currency Strategist at Rabobank said that there is no argument over the fact that the RBNZ has been positioning itself for a rate hike in the coming months. “This morning’s release of Q1 CPI inflation rate reported inflation at 1.6% above the 1.4% rate that persisted in the September quarter. While today’s release was a little higher than market expectations, it is consistent with the warnings of the RBNZ last month that “inflation pressures are projected to increase”. NZD/USD Levels The 20 DMA is 0.8253, the 50 DMA is 0.8245 and the 200 DMA is 0.8149. RSI (14) reads 65.35. Supports are ascending from 0.8180, 0.8207, 0.8256, 0.8272. Spot is 0.8322 while resistances are 0.8362, 0.8433, 0.8446 and 0.8518. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 21, 2014 OctaFX.Com News Updates

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Flash: GBP/USD will take its cue from rate spreads. – RBS FXstreet.com (Guatemala) - RBS strategists at RBS said GBP/USD will take its cue from rate spreads. Key Quotes: “The follow-through from the initial post-payrolls squeeze in US rates markets has been a little disappointing, so we may have already established the conditions for another back-up in yields. This may see a somewhat stronger USD”. “The Euro area recovery is tepid at best. With CPI inflation set to remain consistently below 1% over a prolonged period given a combination of a strong exchange rate, weak commodity prices and sluggish wage growth, it's important that the recovery continues to build”. “This week sees the flash estimates of Euro area PMI for January. We'll be particularly watching the spread between France and Germany, given the apparent need for the competitiveness gap between the region's largest economies to close. The same is true for Italy”. “This is where the risks to the EUR, both through easier ECB monetary policy and political push-back on additional economic and fiscal reforms, ultimately lie. On balance, we see EUR/GBP trading lower this week”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20, 2014 OctaFX.Com News Updates

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EUR/USD holds onto gains FXstreet.com (Córdoba) - The EUR/USD continues to trade at daily highs above 1.3550 although unable to pick up fresh momentum to extend gains as the US markets remain closed due to the Martin Luther King's Day. The EUR/USD managed to bounce off a 2-month low of 1.3506 and climbed toward a high of 1.3565 before losing momentum and settling in a range just below. With no economic events expected for the rest of the day, FX pairs may enjoy a phase of consolidation. At time of writing, the EUR/USD is trading at the 1.3560 area, recording a 0.2% gain Monday. EUR/USD technical perspective From a technical view, Valeria Bednarik, chief analyst at FXStreet commented that the EUR/USD maintains a short term upward tone although with the US holiday, markets will likely remain quiet. "The daily low of 1.3506 should keep the downside contained at least until Asian opening", the analyst commented. As for technical levels, Bednarik locates next supports at 1.3520, 1.3485 and 1.3440, while she sees resistances at 1.3590, 1.3620 and 1.3655. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20, 2014 OctaFX.Com News Updates

IMF expected to raise growth forecast for the UK FXstreet.com (Łódź) - According to Sky News, the International Monetary Fund should upgrade UK's growth forecast when it releases its updated World Economic Outlook on Tuesday. It is expected that the UK 2014 GDP projection will be raised from 1.9% to 2.4%. Even though the forecast for the global economy is also to be upgraded from 3.6% indicated in October, the IMF seems to be especially optimistic about the recovery in the UK. Such a big growth projection increase would be positive for Chancellor George Osborne, boosting support for his economic policies. Still, it is important to remember that the IMF itself has been warning that UK economic growth is excessively dependent on consumer spending instead of on exports or investment. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20, 2014 OctaFX.Com News Updates

Flash: EUR/USD extends afternoon recovery - FXstreet FXstreet.com (Barcelona) - Valeria Bednarik, Chief Analyst at FXstreet.com comments that the EUR/USD extends its recovery in this European afternoon. Key Quotes “Trading at fresh daily highs above 1.3560, and maintaining a short term upward tone according to the hourly chart as price recovered above its 20 SMA that heads now slightly lower in the 1.3530 area, while indicators head also up right above their midlines.” “In the 4 hours chart, 20 SMA heads lower above current price, offering dynamic resistance around 1.3590, while indicators hold in negative territory.” With the US markets closed on holidays, markets will likely remain quiet, until the release of NZD CPI later on the day. The daily low of 1.3506 should keep the downside contained at least until Asian opening.” “Support levels: 1.3520 1.3485 1.3440. Resistance levels: 1.3590 1.3620 1.3655.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20, 2014 OctaFX.Com News Updates

USD/CAD consolidates ahead of Wednesday's BoC decision FXstreet.com (London) - USD/CAD has consolidated through the morning on quiet trading after declines overnight. With US markets closed, the pair is likely to remain in its current trend. CAD focus is on Wednesday’s important Bank of Canada meeting along with the updated monetary policy report and revisions of BoC forecasts. Highly anticipated BoC meeting on Wednesday CAD fortunes have declined alongside the improvements in US conditions. While the CAD was given support as an alternative during US volatility, the Canadian economy is now dogged by low inflation and a current account deficit. Friday’s consumer price index figures are expected to show a decline of 0.2 percent in December, bringing year-on-year inflation to 1.3 percent, however the market importance of the print will be reliant on the tone of the Bank of Canada’s press conference following its rate decision on Wednesday. USD/CAD is currently trading at CAD1.0947, down 0.25 percent on the session, rebounding from an overnight low of CAD1.0931. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20, 2014 OctaFX.Com News Updates

China December House Price Index flat at 9.9% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 18, 2014 OctaFX.Com News Updates

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US Industrial Production (MoM) down to 0.3% in December from 1% in November Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 17, 2014 OctaFX.Com News Updates

US Capacity Utilization (December): 79.2% vs 79.1% (November) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 17, 2014 OctaFX.Com News Updates

USD/JPY struggles in trading above JPY104.40 without major drivers FXstreet.com (London) - USD/JPY has had a mildly bullish session so far, but has struggled above JPY104.40 in the absence of any major drivers. Building stats hit and miss US building stats came in either side of consensus, with December building permits undershooting at 0.986m versus expectation of 1.015m. Housing starts in December came in at 0.999m, over the 0.990m expectation. Industrial production is set for release at 14:15 GMT, with a consensus expectation of 0.3 percent versus last month’s 1.1 percent print. FOMC expectations With light data for the pair it is expected that it will continue its broad bullishness on diverging monetary policy expectations ahead of the Fed’s FOMC meeting on 24-25 January. At its last meeting, the Fed moved to cut its monthly asset purchases by USD10bn. Should the Fed continue with its tapering despite the knock-back from poor non-farm payroll jobs numbers on Friday, USD/JPY could challenge the three-and-a-half year highs reached at the beginning of January at JPY105.4415. USD/JPY is currently trading at JPY104.3150 on choppy trading, down from a session high of JPY104.4750. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 17, 2014 OctaFX.Com News Updates

US December Housing Starts (MoM) decreases to 0.999M vs 1.107M (November) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 17, 2014 OctaFX.Com News Updates

USD/JPY drops after US data FXstreet.com (Córdoba) - The dollar weakened broadly and fell to fresh lows against the yen after data showed US CPI rose modestly in December, while jobless claims edged lower last week. Consumer prices rose 1.5% during 2013 in line with expectations but well below the 2.0% Fed's target. The USD/JPY cracked below the 104.50 zone and accelerated to a low of 104.27 in recent dealings. At time of writing, the USD/JPY is trading at the 104.35 zone, recording a 0.2% loss on the day. USD/JPY technical levels As for technical levels, the dollar-yen could find immediate supports at 104.27 (Jan 16 low), 104.08 (Jan 15 low) and 104.00 (100-hour SMA/psychological level). On the upside, resistances are now seen at 104.90 (Jan 16 high), 105.00 (psychological level) and 105.32 (Jan 10 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 16, 2014 OctaFX.Com News Updates

Canada: Foreign Portfolio Investment in Canadian securities rises to C$8.66 billion in Nov FXstreet.com (Córdoba) - Foreign investors added C$8.7 billion of Canadian securities to their holdings in November, Statistics Canada said Monday. Meanwhile, Canadian investors acquired C$6.6 billion of foreign securities, all bonds. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 16, 2014 OctaFX.Com News Updates

US: Consumer Price Index rises 0.3% in December FXstreet.com (Córdoba) - US consumer prices rose 0.3% in December, the US Labor Department reported Thursday, matching market's expectations and following a flat reading the previous month. However, the Consumer Price Index grew 1.5% in the 12 months to December, also matching forecast and higher than November's 1.2% rise. Core CPI, which strips food and energy costs, rose 1.7% over the last twelve months and 0.1% MoM in line with expectations. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 16, 2014 OctaFX.Com News Updates