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US ADP Employment Change increase to 215K in November Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 03,2013 OctaFX.Com News Updates

US: MBA Mortgage Applications fell 12.8% FXstreet.com (Edinburgh) - Applications for mortgages dropped 12.8% in the week ended on November 29, according to MBA, down from -0.3% from the previous week. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 04,2013 OctaFX.Com News Updates

Session Recap: USD firmer ahead of key data this week FXstreet.com (Córdoba) - The USD traded a touch firmer versus major competitors Wednesday ahead of key economic data later this week, including the US GDP and the Government employment report, which investors will be closely watching for clues about when the Fed will start scaling back its monetary stimulus. The EUR/USD traded little changed around 1.3585, while the USD/JPY was flat around 102.45 after peaking at 102.83. The GBP/USD fell to a weekly low of 1.6325 following disappointing UK services PMI. The AUD is among the worst performers across the board, losing 1.3% at 0.9020, weighed by weak Australian GDP figures and disappointing Chinese services PMI. During the NY session watch for US ADP jobs report, trade deficit, new home sales and ISM services PMI. Main Headlines in Europe: Switzerland: Annual Industrial Production drops 2.3% in Q3 Germany: PMI Services rises to 55.7 in November EMU: Services PMI slides to 51.2 in November UK: Services PMI dips to 60 in November EMU: Annual GDP falls 0.4% in Q3, as expected EMU: Annual Retail Sales drop 0.1% in October European Commission fines eight banks for fixing rates OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 04,2013 OctaFX.Com News Updates

European Commission fines eight banks for fixing rates FXstreet.com (Łódź) - Following an investigation led since October 2011, the European Commission finally announced its decision on Wednesday to fine eight European and American financial institutions a total of €1.71B for “participating in cartels in the interest rate derivatives industry.” Deutsche Bank was hit the hardest with a fine of €725M. Société Générale was fined €446M, RBS €391M, JPMorgan and Citigroup between €70-80M, UK broker RP Martin €247K. Barclays has escaped penalty as it revealed the existence of the cartel to the EC. The EC led two separate investigations in the matter, one concerning interest rate derivatives denominated in the euro currency (in which four firms were involved). The other concerned interest rate derivatives denominated in Japanese yen (in which six firms were involved). EU's competition commissioner, Joaquin Almunia commented following the EC's announcement: “What is shocking about the LIBOR and EURIBOR scandals is not only the manipulation of benchmarks, which is being tackled by financial regulators worldwide, but also the collusion between banks who are supposed to be competing with each other.” “Today's decision sends a clear message that the Commission is determined to fight and sanction these cartels in the financial sector. Healthy competition and transparency are crucial for financial markets to work properly, at the service of the real economy rather than the interests of a few." Almunia added that the European Commision was still investigating companies which declined to settle and that it might look into the foreign exchange market as well. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 04,2013 OctaFX.Com News Updates

USD&JPY deflates below 102.50 FXstreet.com (Edinburgh) - The USD/JPY continues to retrace yesterday’s sharp ascent to the area of 103.40 amidst a context slightly biased towards the risk-off trade. USD/JPY back below 103.00 The pair lacked the vigour in its run up to 2013 highs beyond 103.70 on Tuesday, sparking a correction lower while market participants keep digesting the recently announced stimulus package and the pessimistic comments by T.Sato, emphasizing his doubts regarding the capacity of the Japanese economy to achieve the 2% inflation target. “over the short-term, it will bethe events in the US and the euro-zone that will determine the near-term direction of the yen. The best (and most likely) outcome for yen sellers is that the ECB remains cautious on further easing but equally leaves open the prospect in 2014 and an around consensus 180-200k print in NFP on Friday”, assessed Derek Halpenny, European Head of Global Markets Research. USD/JPY levels to watch At the moment the pair is advancing 0.05% at 102.48 and a surpass of 103.38 (high Dec.3) would target 103.57 (high May 23) en route to 103.74 (2013 high May 22). On the downside, the immediate support is at 102.24 (low Dec.4) ahead of 102.17 (Tenkan Sen line) and then102.04 (MA10d). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 04,2013 OctaFX.Com News Updates

Japan’s GPIF can lower JGB weighting without selling bonds immediately FXstreet.com (Łódź) - Takahiro Mitani, the head of Japan's Government Pension Investment Fund admitted on Wednesday that the fund´s JGB holdings were too big but that their weighting could be reduced to the recommended 52% level by allowing the bonds to mature instead of byselling them. The projected 5.8 trillion yen in pension payouts in 2014 and 2015 would come from JGB redemptions and interest and would lower the domestic bonds' weighting. “If we know that this will happen, then why do we need to shake up the market now by selling?” Takahiro Mitani said. He also expressed interest in buying inflation-linked JGBs as an inflation hedge as well as foreign bonds. Japan's GPIF is the world's largest public pension fund and financial markets remain sensitive to its actions. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 04,2013 OctaFX.Com News Updates

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USD/CAD consolidates near 3-year high FXstreet.com (Córdoba) - The USD/CAD retreated a tad and turned flat for the day after hitting its highest level since August 2010 during the European session. The USD/CAD peaked at 1.0663 but lost momentum and retreated slightly to enter a consolidation phase contained by 1.0630 on the downside over the last hours. At time of writing, the USD/CAD is trading at the 1.0655 zone, still up 0.1% on the day and with only second-tier data scheduled for the NY session. USD/CAD technical levels In terms of technical levels, the USD/CAD could find immediate resistances at 1.0663 (daily high) and 1.0669 (Aug 31 2010 high) followed by 1.0678 (Jul 5 & 6 2010 highs) and 1.0700 (psychological level). On the flip side, supports are seen at 1.0630 (daily low) and 1.0600 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 03,2013 OctaFX.Com News Updates

GBP/USD rejected near 1.6440 FXstreet.com (Edinburgh) - The sterling is rapidly picking up pace against the greenback on Tuesday, pushing the GBP/USD to the vicinity of 2013 peaks near 1.6440, although losing some vigour afterwards. GBP/USD buoyed by data Better results from Monday’s manufacturing PMI and today’s construction PMI have been supporting the GBP bullish momentum, ahead of the BoE MPC meeting and the Autumn Statement Forecast due later in the week. In the wake of the string construction PMI, analysts at BBH observed that “It is encouraging the market to increase the odds of a rate hike by early 2015 as reflected in the short-sterling futures contracts. It leaves tomorrow's services PMI to round out the trifecta that will point to an acceleration of the UK economy into the end of the year. GBP/USD levels to watch At the moment the pair is up 0.38% at 1.6417 facing the next hurdle at 1.6443 (2013 high Dec.2) followed by 1.6455 (high Aug.29 2011) and finally 1.6500 (psychological level). On the flip side, a break below 1.6315 (low Nov.29) would aim for 1.6277 (low Nov.28) and then 1.6260 (high Oct.1). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 03,2013 OctaFX.Com News Updates

Session Recap: USD retreats across the board FXstreet.com (Córdoba) - The dollar trades lower versus most competitors Tuesday while the pound is outperforming underpinned by a solid UK construction PMI reading. The EUR/USD managed to advance but stalled at the 1.3575 zone, while the USD/JPY pulled back after hitting a fresh 6-month high of 103.37 amid profit taking. The GBP/USD was boosted to a high of 1.6436, a few pips shy of its last week's peak after the UK construction PMI reached a 6-year high. The AUD/USD managed to erase early losses after dipping to the 0.9055 area in the wake of the RBA decision to leave policy unchanged. The AUD/USD was last up 0.2% at the 0.9125 zone while the USD/CAD was little changed at 1.0638, having printed a high of 3-year high of 1.0663. During the New York session, watch for ISM New York index, Redbook, IBD/TIPP Economic Optimism index and total vehicle sales. Main Headlines in Europe: UK: PMI Construction grows to 62.6 in November EMU: Annual PPI drops 1.4% in October Flash: What’s the sentiment surrounding the EUR/USD today? – Commerzbank and OCBC Bank EU's Rehn: Recovery still fragile in some parts of Europe OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 03,2013 OctaFX.Com News Updates

Flash: GBP/USD has NOT closed above 1.6370 - Commerzbank FXstreet.com (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that she made an error yesterday – the did NOT close above the 1.6370 December 2012 high. Key Quotes “This attempt higher was seen in fairly thin market conditions and ONLY a CLOSE above 1.6370 will persuade us that there is scope for a move to 1.6634/16735.” “Every time frame is implying that this is in fact the end of the upmove, and the 60 minute chart is suggesting intraday rallies will now fail 1.6275/85.” “The daily RSI has not confirmed the new high and we will watch price action around the 1.6259/55 previous highs from October, as failure here will cast attention back to the 5 month uptrend at 1.6029. A close below here will re-target the 1.5855 November low.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 03,2013 OctaFX.Com News Updates

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Flash: EUR/USD dips below 1.3550. What’s next? – Commerzbank and OCBC Bank FXstreet.com (Edinburgh) - The single currency abandoned the area around 1.3600 at the beginning of the week, with the EUR/USD falling through the 1.3550 level despite the solid PMI data from the euro zone. “The EUR-USD has to contend with a busy data calendar this week as well as the ECB meeting on Thursday. In the interim, an increasingly supported tone may persist, with 1.3653 the next visible resistance while the 55-day MA (1.3558) is expected to offer good support in the current environment”, suggested Emmanuel Ng, Strategist at OCBC Bank. Karen Jones, Head of FICC Technical Analysis at Commerzbank, observed “… near term strength continues to be viewed as corrective and we continue to view the pattern as a potential rising wedge pattern. The top of the pattern is at 1.3627 and a close below 1.3471 will complete it. We look for the 1.3295/94 zone to be retested (current November low and the 50% retracement of the move up from July). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 02,2013 OctaFX.Com News Updates OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 02,2013 OctaFX.Com News Updates

Strong UK PMI numbers lend further support to earlier breach of BoE unemployment threshold FXstreet.com (London) - Sterling has been given further support by strong manufacturing Purchasing Managers Index numbers. November UK manufacturing purchasing managers’ index numbers came in at 58.4, busting the 56.0 consensus and the highest print since February 2011. Additionally, October’s number was revised up from 56.5 to 56.0. Particularly bullish was the employment component, up to 54.5 from 51.9, continuing to add support to expectations that the unemployment rate will fall below 7 percent in the third quarter 2014 – below the threshold at which the Bank of England will consider hiking rates. The strong employment numbers combined with robust orders from the Eurozone suggest that there may be some potential for upside in wages – one of the few dark clouds on the horizon of the UK economy as real wages remain in decline. GBP/USD is at USD1.6413, up 0.22 percent. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 02,2013 OctaFX.Com News Updates

GBP/USD bounces after strong UK manufacturing PMI FXstreet.com (Córdoba) - The GBP/USD rebounded from daily lows after UK Markit Manufacturing PMI came in above forecast in November. UK Markit Manufacturing PMI rose to 58.4 last month from 56.5 printed the previous month (upwardly revised from 56.0) and beating expectations of 56.0. The Cable was lifted toward the 1.6425 area from below 1.6400, although momentum was short-lived and the pair pulled back afterward. At time of writing, GBP/USD is trading at the 1.6405 zone, still up 0.2% on the day. GBP/USD technical outlook From a technical perspective, "The minor corrective pattern below 1.6370 was well bid at 1.6313 low and the uptrend has been renewed, reaching a new local high at 1.6441", said Stoyan Mihaylov, analyst at DeltaStock.com. "The bias remains positive above 1.6385 intraday support, for next leg upwards, toward 1.6613 resistance area. Crucial on the downside is 1.6313 low". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 02,2013 OctaFX.Com News Updates

GBP/USD bounces after strong UK manufacturing PMI FXstreet.com (Córdoba) - The GBP/USD rebounded from daily lows after UK Markit Manufacturing PMI came in above forecast in November. UK Markit Manufacturing PMI rose to 58.4 last month from 56.5 printed the previous month (upwardly revised from 56.0) and beating expectations of 56.0. The Cable was lifted toward the 1.6425 area from below 1.6400, although momentum was short-lived and the pair pulled back afterward. At time of writing, GBP/USD is trading at the 1.6405 zone, still up 0.2% on the day. GBP/USD technical outlook From a technical perspective, "The minor corrective pattern below 1.6370 was well bid at 1.6313 low and the uptrend has been renewed, reaching a new local high at 1.6441", said Stoyan Mihaylov, analyst at DeltaStock.com. "The bias remains positive above 1.6385 intraday support, for next leg upwards, toward 1.6613 resistance area. Crucial on the downside is 1.6313 low". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 02,2013 OctaFX.Com News Updates

Flash: Sterling higher ahead of Autumn Statement - Societe Generale Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the pound has broken through key chart levels this morning against EUR, CHF and USD. Key Quotes “We remain short EUR/GBP and long GBP/CHF. RSIs and momentum indicators in GBP/USD look stretched, but we also expect solid PMI data at 9:30 GMT and Thursday’s Autumn Statement is an opportunity for the Chancellor to make optimistic noises about the economic recovery.” “I expect the BOE to go on pouring cold water on the idea of rates going up in 2014,but I also expect an investment bank economic department or two to forecast an ‘earlier than expected ’move.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 02,2013 OctaFX.Com News Updates

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Canada: GDP (Sep.) expanded 0.3% MoM FXstreet.com (Edinburgh) - The Canadian economic activity expanded 0.3% on a monthly basis during September. At the same time, the Canadian economic activity expanded at an annual pace of 2.7%, surpassing estimates at 2.5% and the previous 1.6% expansion (revised from 1.7%). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 29,2013 OctaFX.Com News Updates

Canada: GDP (Sep.) expanded 0.3% MoM FXstreet.com (Edinburgh) - The Canadian economic activity expanded 0.3% on a monthly basis during September. At the same time, the Canadian economic activity expanded at an annual pace of 2.7%, surpassing estimates at 2.5% and the previous 1.6% expansion (revised from 1.7%). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 29,2013 OctaFX.Com News Updates

Flash: AUD/USD to remain under the weather ahead of RBA meet - OCBC Bank FXstreet.com (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank comments that the AUD may continue to feel under the weather ahead of the RBA next Tuesday. Key Quotes “AUD may continue to feel under the weather ahead of the RBA next Tuesday, especially with the growth-linked currencies still out favor with investors in the near term.” “The 0.9000 support remains pivotal although we may expect some capitulation around the 0.9090 area in the interim.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 29,2013 OctaFX.Com News Updates

GBP/USD finds support ahead of 1.6300 FXstreet.com (Córdoba) - The GBP/USD found support at the 1.6310 area and halted the downward correction that started after the pair printed a fresh 11-month high of 1.6373. Coupled with a technical correction, the GBP came under pressure during the European session in the wake of disappointing UK mortgage and lending data and slid to a low of 1.6313 versus the USD. However, the GBP/USD managed to bounce and it is currently trading at the 1.6335 zone, virtually unchanged on the day, ahead of an empty (in the data front) NY session. GBP/USD technical outlook From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that GBP/USD maintains the overall bullish tone as, despite extreme overbought readings, corrective movements remain shallow. "Further gains should be expected on price accelerations beyond 1.6380 yearly high, eyeing then the 1.6425/40 area, where the pair presents several daily highs and lows from August/September 2011", says Bednarik. "To the downside, main support comes around 1.6290, and a break below it may favor a downward correction towards 1.6250, albeit this latter should again attract buyers if reached". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 29,2013 OctaFX.Com News Updates

Italy Producer Price Index (MoM) down to -1% in October; -2.2% (YoY) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 29,2013 OctaFX.Com News Updates

Flash: EUR/USD buoyed by confidence indicators - OCBC Bank FXstreet.com (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank notes that EUR/USD was buoyed by supportive November confidence indicators. Key Quotes “The pair may continue to capitalize on any potential dollar weakness into the end of the week pending the EZ CPI data release later today.” “EUR/USD upside in the near term continues to show a healthy restraint and the pair may remain capped at 1.3650 with the 55-day MA (1.3554) expected to support on dips.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 29,2013 OctaFX.Com News Updates