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Oil rises after Fed keeps its foot on the gas, inventories down FXstreet.com (London) - WTI has been driven to one-week highs on the back of yesterday’s announcement that the US Federal Reserve would not be going ahead with expected plans to taper its monthly asset purchases. This was combined with reports that US inventories had fallen faster than expected. News that the Federal Reserve would not be taking its foot off the gas with its ultra-loose monetary policy aimed at stimulating the economy of the US, the world’s largest oil consumer, rallied oil prices. WTI October contracts currently stand at USD107.70/barrel, having hit highs of USD108.99. November Brent prices currently stand at USD109.79/barrel, after hitting highs of USD111.26. The spread between US WTI contracts and European Brent has declined to USD2.27, a six-week low. According to data released by the Energy Information Administration, US crude inventories have slid to 355.6 million. The seasonally adjusted annual fall of 4.368m barrels was a sharp increase on -0.219m in the preceding month. Analysts had expected inventories to fall -1.394m. The squeeze on US supplies has tightened the WTI-Brent spread, which had preciously traded at a USD19 premium on Syrian tensions combined with US oversupply. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 19,2013 OctaFX.Com News Updates

Canada: Wholesale Sales rose 1.5% in July FXstreet.com (Edinburgh) -Canadian Wholesale Sales rose 1.5% on a monthly basis during July, surpassing forecasts at 1.0% and improving June’s 2.8% drop (revised). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 19,2013 OctaFX.Com News Updates

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EUR/JPY oscillates around 132.00 FXstreet.com (Córdoba) - Despite the consolidative tone prevailing in financial markets, the Yen has managed to secure gains versus its major competitors, dragging EUR/JPY below the 132.00 mark Wednesday. However, the EUR/JPY managed to find buyers at the 131.85 zone and bounced, although with the recovery capped by the 100-hour SMA, the cross was confined to a phase of consolidation. At time of writing, EUR/JPY is trading around 132.00, where it records a 0.3% loss on the day (following 2 days of gains). EUR/JPY supports and resistances As for technical levels, next supports could be found at 131.85 (daily low) and 131.60 (Sep 16 low), while on the other hand resistances line up at 132.25 (100-hour SMA) and 132.60 (daily high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 18,2013 OctaFX.Com News Updates

US: Building Permits fell to 918K in August FXstreet.com (Edinburgh) -The Commerce Department has informed that Building Permits fell to 918K during August, missing the median at 950K and lower than July’s 954K (revised). New Construction of US houses rose to 891K in the same period vs. forecasts at 917K and up from 883K previous (revised). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 18,2013 OctaFX.Com News Updates

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GBP/USD eyes 1.5880 support and lower FXstreet.com (London) - GBP/USD had jumped to 1.5965 from a gap in the charts on the open in markets this week but has since lost its form back below 1.5900 level. This has been a dollar weakness story so far with the Hawk, Larry Summers’, withdrawal from being considered as the next Fed Chairman and the possibility that the Dove, Janet Yellen, may in fact be the person for the job. Therefore, markets are expecting a longer term in current accommodative policies. The week ahead is jam packed with events that could either increase the appetite for 1.6000 in the pair or reduce risk back to support 1.5880/20 in the near term. GBP/USD levels Indicators suggest momentum has slowed down. The 20 DMA is 1.5645, the 50 DMA is 1.5452 and the 200 DMA is 1.5487. Supports are ascending from 1.5819, 1.5835, 1.5869 and 1.5885. Spot is currently 1.5906 while resistances are 1.5920, 1.5937, 1.5970, 1.5992, 1.6010, 1.6040 and 1.6080. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 17,2013 OctaFX.Com News Updates

EUR/USD under mild pressure FXstreet.com (Córdoba) - After failing to overcome the 1.3370 area, EUR/USD came under mild pressure and trimmed daily gains at the beginning of the American session, although it remains well within its recent range. EUR/USD remains capped by 1.3370 Even though EUR/USD was boosted by better-than-expected ZEW German data, the euphoria quickly faded. EUR/USD retreated to the 1.3340 area before finding support and it was last around 1.3350, still up 0.1% on the day. Neither US CPI nor the NAHB housing market index had much impact on the pair as investors refrain from taking big positions ahead of the conclusion of the 2-day Fed policy meeting. EUR/USD holds the bullish bias From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that the pair maintains the bullish bias, but adds that only strong accelerations above 1.3385 will expose the 1.3450 area. Bednarik locates next resistances at 1.3385, 1.3420 and 1.3450, while she sees supports at 1.3320, 1.3285 and 1.3240. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 17,2013 OctaFX.Com News Updates

US NAHB Housing Market Index stays unchanged at 58 in September Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 17,2013 OctaFX.Com News Updates

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USD/NZD looking toppy; highs 0.8230 FXstreet.com (London) - The NZD/USD reached a high of 0.8230 on a broad based dollar sell off, breaching into the 0.8200 handle but has since ducked into 0.8180 territory again. The Hawk, Larry Summers’, withdrawal from being considered as the next Fed Chairman and the possibility that the Dove, Janet Yellen, may be the person for the job has lead to the dollar dropping significantly towards significant levels in dollar crosses. Markets are expecting a longer term in current accommodative policies. Meanwhile, this week will hold a number of key events with Fed Interest Rate Decision to CPI’s for the US. NZ sees Q2 GDP and Aug net migration. NZD and RBNZ risk With the pair remaining bid on the back of a hawkish stance from the RBNZ of late, research teams at Westpac said there are a couple of reasons at least for market participants to continue to expect opportunities. “A modest taper at the FOMC this week is fully priced, and given US data has been spotty lately, the risk is US interest rates (and in turn NZ rates) briefly correct lower. Investors could benefit tactically, while borrowers could benefit strategically by paying the dip”. USD/NZD levels The 20 DMA is .7915, the 50 DMA is .7931 and the 200 DMA is .8184. RSI (14) 51.45. Supports are ascending from .8074, .8095, .8125 and .8170. Spot is currently 0.8188 while resistances are coming in at .8198, .8256, .8273, .8302 and .8318. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 16,2013 OctaFX.Com News Updates

Markets buoyed by Yellen, "Insert 'Summers Over' gag here" FXstreet.com (London) - Markets this morning jumped on news that Larry Summers, the favourite to take over from Ben Bernanke, had withdrawn his name from the race to be the next Fed Chairman. In his absence, Janet Yellen has come to the forefront, having been previously tipped to take the top job at the US central bank before Bernanke was re-nominated by Barack Obama in 2009. Markets dependent on a steady stream of cheap money from the Federal Reserve were buoyant on the change in the running. Summers had been seen as a hawk who would move to tighten the Federal Reserve’s monetary policy, however Yellen is seen much more in the Bernanke mould, ready to take a monetary activist stance to manipulate the economy and to keep the taps open on QE to inflate stock prices. It should, however, be noted that Summers withdrew from the race following Democrat opposition not to his monetary stance, or his perceived-monetary stance, but to his corporate ties and his involvement in the events surrounding the 2008 crash. In July, when it became apparent that Summers was front running to take the Fed job, about a third of the 54-member Democratic caucus in the Senate signed a letter to Obama endorsing Yellen. Although the letter did not attack Summers specifically, it stressed Yellen’s “solid record as a bank regulator” and “willingness to challenge conventional wisdom regarding deregulation” – a not-so-veiled attack on Summers deregulatory stance pre-2008. In a letter to President Obama, Summers said that “I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interests of the Federal Reserve, the administration, or ultimately, the interests of the nation’s ongoing economic recovery.” While the markets seem to have responded in no uncertain terms to Summers exit from the running for the Fed job, just what difference would a Yellen chairmanship fundamentally make to monetary policy? It is also worth remembering that Yellen is not a foregone conclusion – Obama may still choose to throw Roger Ferguson, Donald Kohn or even Tim Geithner into the mix. The bond markets certainly seemed unambiguous about the difference that Yellen would make over Summers – 10 year Treasuries shed 8bps on the news, on lowering worries of an aggressive tapering of the QE infinity, and the current $45bn of asset purchases made by the Fed each month, artificially depressing Treasury yields. Yellen, currently Vice Chairman of the Fed, leads the committee on Fed communication, and has taken the lead on changes to the way that the central bank communicates information to the markets - introducing post-meeting press conferences and forward guidance on policy rates and quantitative easing. But Fed internal policies aside, Yellen is a Keynesian monetary activist and quick to step in with a heavy hand to regulate markets – there is no coincidence that she has been pushed so heavily by the left-leaning Democrat caucus. It is unavoidable that the Fed will have to ease off its quantitative easing programme – but, if successful, Yellen will undoubtedly be slower to take her foot off the gas than Summers. And to an equities market bloated by cheep cash, and to a Treasury market artificially depressed by asset purchases, any extra time that they can be supported by the Fed is good news all round. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 16,2013 OctaFX.Com News Updates

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USD/CHF extends losses on dismal US data FXstreet.com (Athens) - The USD/CHF under renewed pressure on poor retail sales release. USD/CHF breaks the support as of 0.9300 on weak retail sales release The USD/CHF was trading downwards since early European trading, but caught under heavy selling pressure after the release of disappointing US retail sales data. However, while the US retail data rose at a weaker than expected number (by 0.2% on a monthly basis, though there were upward revisions to previous months data), the figure was not that bad to stop the notorious “tapering”. Still, the ongoing weakness in the labor market paired with the slowdown in private sector credit along with soft retail sales data, dragged down the pair as market participants scale back bets of seeing a less-dovish FOMC. Strategic aspects and Technical Outlook on USD/CHF Karen Jones, Head Technical Analyst at Commerzbank suggests “USD/CHF has failed on its initial test of 0.9455 and is correcting lower. We look for this correction to ideally terminate circa. 09280 (the 50% retracement). What’s more, Rallies will find initial resistance at .9353 and will need to clear last week high at 0.9455 to reassert upside pressure.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 13,2013 OctaFX.Com News Updates

USD/JPY crashes over 30 pips to erase daily gains FXstreet.com (Lisbon) - The USD/JPY foreign exchange rate took a tumble on the heels of US data Friday, by far its biggest movement of the day, crashing nearly over 30 pips in recent minutes. In the United States, Retail Sales (MoM) grew only +0.2% in August, missing expectations of +0.4%. In addition, the Producer Price Index (YoY) has climbed +1.4% in August, beating estimates of only +1.3%. USD/JPY technical levels In these moments, the USD/JPY is now trading at 99.42, now incurring a loss of -0.11% off its opening. Given the present exchange, the USD/JPY will is offered support at 99.31, ahead of 99.11, and 98.95, notes the Danske Research Team. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 13,2013 OctaFX.Com News Updates

EUR/GBP downwards as EZ fundamentals hit a nerve FXstreet.com (Athens)- The EUR/GBP is under pressure for a fourth straight session, as Euro zone fundamentals hit a nerve on Euro Zone finance ministers meeting. EUR/GBP under high pressure and 0.8400 in high jeopardy The EUR/GBP is under heavy pressure; today the Finance Ministers of Euro land gather to discuss topics which will likely include the status of the bailout program for Cyprus, as well as the funding gap of around EUR4.0 billion for Greece. The single currency is suffering as Greece, Cyprus, the economy and banking union are on deck. What’s more besides the spicy agenda of the today’s Euro zone conference, the single currency is under pressure due to the 1.5% m/m contraction in Euro zone July industrial production. Furthermore, we should not forget that Draghi stated yesterday that the upturn is still “very, very green”. Last but not least, Syria’s issue is still on focus, even if it doesn’t be across the news wires at the same immensely tone. This issue still has the potential to create uncertainty and renewed tension. Technical outlook on EUR/GBP Emmanuel Ng of OCBC Bank, notes that “the EUR-GBP remains skating above the 0.8400 floor amid a still heavy posture.” At the time of writing, the pair is trading at 0.8402, down 0.13%. The FXstreet.com Trend Index shows the pair to be strongly bearish in a 15minutes time framework. Daily pivot point support can be found at 0.8400, 0.8395, 0.8374, and resistance at 0.8444, 0.8466, and 0.8487, respectively. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 13,2013 OctaFX.Com News Updates

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Flash: EUR/USD primed for bearishness – TD Securities FXstreet.com (Lisbon) - German CPI data earlier was one of highlight Eurozone releases of the week, although an as-expected outcome and the bigger focus on Syrian developments left the EUR/USD in consolidation mode, notes the TD Securities Team. Key quotes “ECB Executive Board member Asmussen speaks again this afternoon (at 1:00PM ET) where he is likely to emphasize the downside case as he did yesterday. Echoing Draghi last week, Asmussen has reiterated that the ECB remains ready to act if conditions deteriorate.” “Such comments could weigh on the EUR/USD in an otherwise quiet day for data. Syrian headlines, are of course the other main concern for EUR/USD and the FX space as a whole today. Broadly speaking, we remain bearish on the pair and as we outlined in a note yesterday, we think these levels mark the sell zone.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 11,2013 OctaFX.Com News Updates

Flash: Equities notch impressive rally after Syria abates – Deutsche Bank FXstreet.com (Lisbon) - Markets have continued with their impressive run and we've now seen 7 full business days in September and global equities have been higher for all of them and the S&P500 has not seen a down day since the last business day of August, notes Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank. Key quotes “A combination of falling crude prices (down 4% since Friday), a potential back down in the threat of a US military strike in Syria and yesterday’s firmer Chinese industrial production data combined to give the S&P500 (+0.73%) its longest winning streak since July.” “In a prime time televised speech, Obama reiterated his moral arguments for action in Syria but said that he was willing to give diplomacy a chance to run its course. S&P500 futures responded positively to the President’s comments.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 11,2013 OctaFX.Com News Updates

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EUR/USD bullish testing 1.3220 resistance FXstreet.com (London) - EUR/USD had regained its positioning back in the 1.3200 handle, continuing on from Friday’s move to 1.3180 after the disappointing US jobs data. EUR/USD opened on the bid and has continued through the figure exceeding September highs. The pair may find some resistance here meeting the May top on a quiet calendar. On Wednesday we will see CPI data for Germany. Then we have some jobless claims data for the US later in the week and Friday will bring Michigan Consumer Sentiment. EUR/USD RSI above 70 The 20 DMA is 1.3282, the 50 DMA is 1.3203 and the 200 DAM is 1.3148. RSI (14) reads 77.55 and signals a consolidation period. Supports are ascending from 1.3051, 1.3126, 1.313,9 1.3154, 1.3171, and 1.3189. Spot is 1.3219 and resistances are 1.3225, 1.3237 and 1.3255. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 09,2013 OctaFX.Com News Updates

USD/CHF heads downwards as hedge funds bid in risk FXstreet.com (Athens)- The USD/CHF is under heavy pressure due to the fact that risk-appetite is back “on” and EUR/USD..trades significantly higher. The USD/CHF under pressure amidst Fed taper bets and EUR/USD uptrend behavior It is taken for granted that the Fed will proceed in September with a gradual cutback of asset purchases (as otherwise might be problematic from a credibility perspective given Fed officials’ considerable efforts “communicate” tapering the recent months). However, we still do not know on what is likely to happen thereafter. Investors should be aware if the Fed’s president in San Franscisco Williams adopts a dovish or hawkish stance in his speech, as his comments amount to the last bit of “fed-speak” before Fed officials proceed with the final decision. Technical Outlook on USD/CHF Traders should never forget that there is a highly strong and negative correlation between the USD/CHF and the EUR/USD. Thus, since EUR/USD moved abruptly above 1.3200, the USD/CHF came under heavily pressure almost instantly. Thus, investors can take advantage of the two pair correlation, independently on what cross are interested in. At the time of writing, the pair is trading at 0.9339, down 0.40%. The FXstreet.com Trend Index shows the pair to be slightly bearish and extremely oversold in the 15 minutes framework. Daily pivot point support can be found at S3: 0.9307 S2: 0.9284 S1:0.9260 and resistance at R1:0.9417 R2:0.9441 R3:0.9464, respectively. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 09,2013 OctaFX.Com News Updates

EUR/USD strikes back above 1.3200 FXstreet.com (Athens)- The EUR/USD strikes back above 1.3200 gaining around 10 pips, as Syria’s tensions fade way, European yields calming down and…Sentix boosts confidence in Euro land. The EUR/USD spikes above 1.3200; it might be a squeezing of positions taken from Friday’s NFP? Earlier, at 8.30 GMT hours, the Sentix confidence data released at +6.5 versus -3.5 expected, a clear sign that sentiment is indeed turning in the Euro-Zone. Moreover, spreads in Euro land tend to calm down; elaborating on, German 10-year bond yield is trading 0.1 bps lower to 1.95%, while Spain benchmark yield is trading 0.9 bps lower to 4.51%. As it is taken for granted that the Fed will proceed in September with a gradual cutback of asset purchases (as otherwise might be problematic from a credibility perspective given Fed officials’ considerable efforts “communicate” tapering the recent months), investors should try to figure out news-flow arguing against a sustained stimulus reduction cycle through the year-end. What’s more, as long as news wires suggest that “UK and US share revulsion over the Syria attack, during joint press conference with US's Kerry,” it is well anticipated that the single currency might be find additional support. Needless to say, traders over the glove should take upon consideration the fact, that the pair might be still in an upwards trend, due on position "squeezing" since Friday's NFP's. Technical Outlook and Strategic Bias on EUR/USD Greg Moore on behalf of TD securities suggest that “EUR/USD has bounced a little further from the lows reached late last week, continuing with tone in the wake of Friday’s softer US jobs report. For the week ahead, Eurozone industrial production and CPI on Wednesday are the data highlights of the week, but the market will likely be more concerned with the Italian Senate talks on whether to expel Berlusconi (starting today at 9:00AM ET), the ECB’s Asmussen’s comments on Tuesday and Wednesday, and Eurogroup and Ecofin meetings at the end of the week. Overall, without too much significant on the calendar, consolidation could be the order of the week and that could see EUR/USD retrace a bit more recent slide. We continue to be bearish longer term however, and look to sell rallies to the mid-upper 1.32 area.” At the time of writing the pair is trading nearly 1.3216, up 0.12%. The FXstreet.com Trend Index shows the pair to be slightly bullish in the 15 minutes chart. Daily pivot point support can be found at S3:1.3182 S2: 1.3142 S3: 1.3116 and resistance at R1: 1.3245 R2:1.3277 R3: 1.3310, respectively. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Sep 09,2013 OctaFX.Com News Updates