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OctaFX.Com - Forex: US Dollar Weakest on Friday; Euro Up After German Data, ECB Speak ASIA/EUROPE FOREX NEWS WRAP The final day of the three day liquidity drawdown has arrived, and price action on Friday has been moderately bullish for high beta currencies and risk-correlated assets. There’s been decent follow-through on yesterday’s advances by the Australian and New Zealand Dollars, as well as the Japanese Yen and the Euro, as the US Dollar is the worst performing currency across the board. Mainly, there’s been some positive news flow out of Europe allowing for the continued rebound in risk-appetite, as any such headlines out of the United States are absent amid the Thanksgiving holiday. On the data front, a German business confidence reading outperformed expectations, helping ease concerns that the Euro-zone’s largest economy was starting to slide towards recession; perhaps this pace has been stalled. On the European news side, there have been a few more reports that Spain is inching towards a bailout agreement, which is bullish for the EUR/USD has it means the European Central Bank’s OMTs would be active, essentially placing a cap on short-term Spanish yields. ECB President Mario Draghi reminded market participants of this today, saying ‘if and when’ (paraphrasing) the OMTs need to be implemented, the ECB stands ready to go. Furthermore, the developments on Greece have been frustrating yet hopeful, with another Euro-zone finance ministers’ meeting on November 26. Round the clock negotiations this week fell short of any major compromise, although it was agreed upon that Greece would receive another two years to fulfill its obligations; another round of elections resulting from brinksmanship could be a major setback. Taking a look at European credit, peripheral bond yields are mostly higher, preventing the Euro from rallying further. The Italian 2-year note yield has decreased to 1.977% (-3.3-bps) while the Spanish 2-year note yield has increased to 2.983% (+1.0-bps). Similarly, the Italian 10-year note yield is unchanged at 4.771% while the Spanish 10-year note yield has increased to 5.648% (+2.3-bps); higher yields imply lower prices. READ MORE Nov 23, 2012 OctaFX.Com News Updates

OctaFX.Com - Euro, global shares gain as Greek deal seen closer LONDON (Reuters) - The euro hit a three-week high on Friday after an unexpected rise in German business sentiment for November and on signs of progress in efforts to help Greece secure fresh funding. Companies in Europe's powerhouse economy have turned slightly more optimistic about the outlook despite the euro zone crisis, breaking a six-month run of worsening sentiment, the Munich-based Ifo think-tank said. "The unexpected rise in November's German Ifo survey provides some relief, but doesn't alter the big picture of near stagnation in the euro zone's growth engine," said Jonathan Loynes, chief European economist at Capital Economics. The euro climbed to $1.2913 following the data and is on track to gain 1.2 percent against the dollar this week. European equity markets showed less reaction as many investors chose to end one of the best weeks of 2012 so far by booking some of their profits. The pan-European FTSEurofirst 300 index (.FTEU3) edged up 0.1 percent at 1,102.35 points, on course for its best week since May and the second biggest weekly gain of the year. London's FTSE 100 (.FTSE), Paris's CAC-40 (.FCHI) and Frankfurt's DAX (.GDAXI) were between flat and 0.2 percent higher. (.EU) (.L) GREEK OPTIMISM The gains across European markets were supported by optimism that Greece will get the money needed to avoid bankruptcy when euro zone finance ministers, the International Monetary Fund and the European Central Bank meet again on Monday. A Greek government official told Reuters the IMF and the European Union have narrowed their differences over the target for Greek debt reduction by 2020. Agreement on a new debt target and how it can be reached is a key stumbling bock in agreeing the release of 44 billion euros ($57 billion) of funds from the bailout package Greece desperately needs to avoid bankruptcy. "The market is getting a bit confident that a Greek deal will be struck. This will remove one of the near-term uncertainties in the euro zone," said Paul Robson, currency strategist at RBS. Greek government bond yields, however, were 5 basis points higher at 16.49 percent, but a relatively small move for the volatile paper and still close to its lowest level since the country's debt was restructured in March. "It's not the first time we have this type of news. The market knows there is a disagreement," said ING rate strategist Alessandro Giansanti. "Until there is an official statement, detailing what they want to do, especially in terms of a debt restructuring, we're not going to see so much of a reaction." Ten-year German government bonds, a barometer of investor sentiment on the euro zone crisis were 2 basis points lower at 1.42 percent. YEAR END OUTLOOK The potential for a Greek deal and signs lawmakers in the United States will eventually agree steps to avoid a fiscal crisis there have been behind a strong rally in share markets around the world this week and have supported commodities. "These two positive drivers should make for a strong month of December, which traditionally is a fairly good month anyway," said Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets. MSCI's world equity index <.MIWD00000PUS> was up 0.15 percent on Friday at 326.75 points, on course for a gain of nearly 3 percent this week. That will be its best weekly performance since mid-September. U.S. stock index futures also point to modest gains when Wall Street trading resumes for a short post-Thanksgiving trading day. (.L)(.EU) (.N) Earlier, MSCI's broadest index of Asia Pacific shares outside Japan <.MIAPJ0000PUS> rose 0.7 percent for a weekly gain of 2.6 percent, its best week for two months. Gold edged up 0.1 percent to $1,731.36 an ounce and looks set to post its second weekly rise in three, while three-month copper on the London Metal Exchange was up 0.18 percent a tonne at $7,729. On the other hand Brent crude slipped towards $110 a barrel as the fragile ceasefire between Israel and Gaza eased supply concerns. On Thursday Israel began withdrawing its army, which had been poised to invade the Gaza Strip in pursuit of militants firing rockets into Israel. "Oil prices will probably be under pressure as long as the ceasefire holds," said Filip Petersson, a commodity strategist at SEB Commodity Research. Nov 23, 2012 OctaFX.Com News Updates

OctaFX.Com - Forex Analysis: NZD/USD Classic Technical Report 11.22.2012 Prices are pulling back anew after testing resistance at the underside of a previously broken rising channel set from late May (0.8247).Initial support lines up in the 0.8056-82 area, with a drop below that exposing the 50% Fibonacci retracement at 0.7962. Alternatively, a push above resistance targets a falling trend line at 0.8294. Daily Chart - Created Using FXCM Marketscope 2.0 Nov 22, 2012 OctaFX.Com News Updates

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OctaFX.Com - Forex: Euro Relief Rally At Risk, Sterling Looks Higher On BoE Policy Talking Points Euro: EU Fails To Deliver Greek Deal, IMF Says More Needs To Be Done British Pound: BoE Votes 8-1 on QE, Curbs Bets For Lower Borrowing Costs U.S. Dollar: Continues To Gain Ground Ahead Of Thanksgiving Holiday Euro: EU Fails To Deliver Greek Deal, IMF Says More Needs To Be Done The Euro pared the overnight decline to 1.2735 as European policy makers floated different options to save Greece, but the reactionary approach held by the EU continues to encourage a bearish outlook for the EURUSD as the debt crisis dampens the fundamental outlook for the region. Indeed, the EU unveiled a EUR 10B bond-buyback plan for Greece, which would be financed through the European Financial Stability Facility, while the group is also looking to suspend Greece’s interest payment on the bailout program through 2020 in an effort to keep the periphery country within the monetary union. As the EU prepares a bundled aid package to avert a Greek default, International Monetary Fund Managing Director Christine Lagarde argued that ‘a bit more’ needs to be done to find a credible solution for Greece, and the ongoing rift within the troika – the EU, ECB, and IMF – may produce further weakness in the EURUSD as European policy makers struggle to restore investor confidence. As European policy makers increase their pledge to avoid a credit event in Greece, headlines coming out of the region may keep the single currency afloat over the coming days, but we may see the EURUSD struggle to hold above the 23.6% Fibonacci retracement from the 2009 high to the 2010 low around 1.2640-50 as the fundamental outlook for the euro-area turns increasingly bleak. As the short-term rebound in the EURUSD fails to keep the exchange rate above the 20-Day SMA (1.2820), the pair may consolidate going into the holiday trade, and we will maintain our bearish forecast for the euro-dollar as the weakening outlook for the region is expected to put additional pressure on the European Central Bank to ease monetary policy further. British Pound: BoE Votes 8-1 on QE, Curbs Bets For Lower Borrowing Costs The British Pound climbed to a fresh weekly high of 1.5948 as the Bank of England (BoE) Minutes sapped bets for additional monetary support, and the rebound from 1.5822 may continue to gather pace over the near to medium-term as the central bank appears to be slowly moving away from its easing cycle. Although the Monetary Policy Committee voted 8-1 to keep its asset purchase program at GBP 375B, the board argued against a further reduction in the benchmark interest rate, while a growing number of central bank officials turned their attention to the stickiness in price growth as the central bank warned that ‘above-target inflation in the near term increased the chance that any pick-up in productivity would result in higher wage demands.’ As the BoE strikes a more neutral tone for monetary policy, we’re seeing the relatives strength index on the GBPUSD breakout of the downward trend carried over from September, and the technical development encourages a bullish outlook for the GBPUSD as the pair appears to be carving out a higher low in November. U.S. Dollar: Continues To Gain Ground Ahead Of Thanksgiving Holiday The greenback continued to gain ground on Wednesday, with the Dow Jones-FXCM U.S. Dollar Index (Ticker: USDOLLAR) advancing to a high of 10,059, and the reserve currency may track higher ahead of the holiday trade as the developments coming out of the EU meeting fails to generate an improved landscape for risk-taking behavior. As U.S. traders go offline ahead of the Thanksgiving holiday, the drop in market participation may produce choppy price action over the next 24-hours of trading, but the bullish sentiment surrounding the reserve currency looks poised to gather pace over the remainder of the year as the Federal Reserve adopts an improved outlook for the world’s largest economy. Nov 21, 2012 News Updates

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OctaFX.Com -Forex Analysis: US Dollar Classic Technical Report 11.19.2012 Prices edged through resistance at 10038, the 61.8% Fibonacci retracement, with buyers now aiming to challenge the 76.4% level at 10109. The first layer of significant support lines up at 10020, the top of a formerly broken rising channel set from mid-September, with a drop below that targeting the 50% retracement at 9982. Nov 19, 2012 OctaFX.Com News Updates

OctaFX- IB Conditions We at OctaFX value our IBs and build our cooperation on honest and transparent basis. Here is a brief overview of the IB conditions. Please make sure to read and understand the IB Agreement prior to becoming an OctaFX IB. How to become an IB? Open a partner account at OctaFX Receive your referral link in the "IB Area" section of your Personal Area at OctaFX That's it, you are now an IB for OctaFX What is my IB commission? The commission is: For Micro accounts: 30% of spread For ECN accounts: 25% of spread How is the commission calculated? Here is an example for you: Commission = order volume * pip price * spread * per cent rate (30% or 25% depending on the account type). Let's say your client has a micro account and has just closed a 3 lot EUR/USD order. Order volume 3 lots Currency pair EUR/USD Account type Micro Spread 1 pip Pip price 10 USD Commission 3*10*1*30% = 9 USD You can view all the minimal and typical spreads for Micro and ECN accounts in "Spreads and trading conditions" section. What you SHOULD do? There is a number of gold old ways to attract clients and make them open accounts via your referral link. Here are some of them: post your referral link in forums, social networks and blogs. Be an active participant in forum discussions, our groups in Facebook and Twitter, talk to people, answer their questions. Alternatively you can create your own website and promote your referral link in your own language in your country. What you CAN'T do? You can't use any kind of illegal advertizing, spam, spamdexing, use adult or illegal websites, deceive or mislead people in any way or do anything which may harm the company's good name and reputation. What else should I know? Please be aware that the only and the final legal document that regulates the relationship between the broker and the IB is the IB Agreement. It sets forth the rules for IBs, explains IB commission and payouts, stages of IB program and other aspects of Introducing Broker activity. Please make sure to read and understand the IB Agreement prior to opening an IB account at OctaFX.

OctaFX.Com -Forex Analysis: Canadian Dollar At Risk For Further Losses On Slowing Inflation The Canadian dollar weakened against its U.S. counterpart, with the USD/CAD pushing back above parity, and the Loonie may face additional headwinds in the week ahead as the economic docket dampens market expectations for higher borrowing costs. Although Canada retail sales are projected to increase another 0.5% in September, the consumer price report may dampen the Bank of Canada’s (BoC) scope to normalize monetary policy as price pressures diminish. As the headline and core reading for consumer prices are expected to slow in October, BoC Deputy Governor Agathe Cote anticipates inflation to hold below the 2% target until the end of 2013, and we may see the central bank continue to endorse a neutral policy stance over the near to medium-term as the fundamental outlook for the region remains clouded with high uncertainty. After pushing back plans to balance the federal budget, Finance Minister Jim Flaherty held a cautious outlook for the region amid the ‘economic shocks that ripple outwards from other nations,’ and warned that Canada ‘is not immune to global forces’ amid the tepid recovery in the United States – Canada’s largest trading partner. Given the historical ties between the two economies, BoC Governor Mark Carney many not want to get too ahead of the Federal Reserve as Chairman Ben Bernanke keeps the door open to conduct more quantitative easing, and we should see Mr. Carney preserve the 1.00% benchmark interest rate for most of 2013 in an effort to encourage a sustainable recovery. According to Credit Suisse overnight index swaps, market participants see the BoC keeping borrowing costs on hold over the next 12-months, and easing bets for a rate hike may continue to dampen the appeal of the Loonie as investors weigh the prospects for future policy. As the rebound from 0.9632 gathers pace, the USD/CAD appears to be carving out an bullish trend, and we may see the pair continue to retrace the decline from June as the developments coming out of Canada curb bets for a rate hike. However, as the relative strength index on the USD/CAD remains capped by the 67 figure, the divergence in the oscillator certainly foreshadows a short-term correction in the index, and the pair may track sideways during the holiday trade before we see another bullish move in the exchange. Nov 17, 2012 OctaFX.Com News Updates

OctaFX.Com - Forex: Euro Concerns Persist, Japanese Yen Rebounds Despite Warning ASIA/EUROPE FOREX NEWS WRAP As the week winds down, it’s worth recapping to note that November has been decisively negative, with high beta currencies and risk-correlated assets, such as the Australian Dollar, Euro and S&P 500, losing ground in favor of safe havens such as US Treasuries and the US Dollar. In fact, the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is now at its highest level since August 21. Leading the pack on a negative day has been the Japanese Yen, which is of little surprise when considered in recent historical context, but following yesterday’s developments, the Yen’s rebound is a bit more curious. Yesterday, Shinzo Abe, the opposition leader who is ahead in polls and likely to win the Japanese snap election in mid-December, said that he would pressure the Bank of Japan to embark on an unlimited easing policy. While I recognize that the market might be a little thin right now with respect to the Yen, i.e. there aren’t enough interested buyers at the current USDJPY level, it’s difficult to envision a scenario in which the Japanese Yen gains ground with Mr. Abe lurking, unless there are concerns circling around the US fiscal cliff. Speaking of which, there is news about the US fiscal cliff: President Barack Obama is meeting with Congressional leaders today to discuss ways to eliminate the sequester, by a few months or indefinitely with a formidable long-term plan. However, based on price action today in the USDJPY and Gold, it appears that while fiscal cliff (I prefer slope, actually – it’s not like all of that economic activity will be lost on January 1; instead, the damages will come over the course of the quarter) concerns are prevalent, there are also European concerns in the picture. Taking a look at credit, peripheral bond yields are barely moved, having little impact on the Euros. The Italian 2-year note yield has decreased to 2.231% (-0.8-bps) while the Spanish 2-year note yield has increased to 3.193 % (+0.2-bps). Similarly, the Italian 10-year note yield has decreased to 4.872% (-0.8-bps) while the Spanish 10-year note yield has decreased to 5.859% (-0.9-bps); lower yields imply higher prices. RELATIVE PERFORMANCE (versus USD): 11:47 GMT JPY: +0.01% CAD:-0.10% GBP:-0.10% AUD:-0.18% NZD: -0.20% EUR:-0.38% CHF: -0.40% Nov 13, 2012 OctaFX.Com News Updates

OctaFX.Com - Forex Analysis: NZD/USD Classic Technical Report 11.16.2012 ASIA/EUROPE FOREX NEWS WRAP Prices are testing support in the 0.8064-0.8101 area, with a break lower exposing the 0.80 figure and the 50% Fibonacci retracement at 0.7962. Near-term resistance is at 0.8222, the underside of a previously broken rising channel set from late May, with a push above that targeting the 0.83 mark. Nov 13, 2012 OctaFX.Com News Updates

OctaFX.Com - Euro rises but vulnerable to Greece uncertainty Prices took out resistance at the top of a rising channel established from mid-September, exposing the 61.8% Fibonacci retracement at 10038. A push above that targets the 76.4% retracement at 10109. The channel top – now at 10021 – has been recast as support, with a push back below that aiming for the 50% level at 9982. Nov 16, 2012

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OctaFX.com-OctaFX Champion Demo Contest Current update! Current update Champion Demo Contest a lot of contestants showing there keen interest in it and currently our top contestant januarta has piled up with +4 291%. So, come and grab the opportunity and be the part of matchless traders. Contests schedule Current round (GMT+2) Registration: Oct 1, 2012 00:00 - Oct 29, 2012 00:00 Duration: Oct 29, 2012 00:00 - Nov 24, 2012 00:00 Next round (GMT+2) Registration: Oct 29, 2012 00:00 - Nov 26, 2012 00:00 Duration: Nov 26, 2012 00:00 - Dec 22, 2012 00:00 As usual, good luck everyone and let the strongest win! View round standings

OctaFX.com- Dollar soars to 6-month high versus Japanese yen FRANKFURT (MarketWatch) -- The U.S. dollar soared to its highest level versus the Japanese yen in more than six months Thursday, rising as the leader of Japan's main opposition party continued to push for a further loosening of monetary policy by the Bank of Japan. The dollar soared as high as 81.25 yen and changed hands in recent action at 81.15 yen, up from 80.20 yen in North American trade late Wednesday. The yen last traded above 81 yen in late April. News reports said Shinzo Abe, leader of the main opposition Liberal Democratic Party, urged the Bank of Japan to push official interest rates below zero. Abe is seen as likely to become Japan's next prime minister in elections expected next month. Nov 15, 2012 OctaFX.Com News Updates

OctaFX.com- Forex: Dollar So Close to a Bullish Surge, What Does it Take? Dollar So Close to a Bullish Surge, What Does it Take? Euro Finds Little Bounce From Greece Hole Plug, Spain Rescue Rumors British Pound Rallies Briefly After CPI Data, Right Back Towards 1.5850 Japanese Yen: Risk Aversion May have Wavered but the Yen Hasn’t Swiss Franc at Two Month High Versus Euro, 1.2000 in Sight Australian Dollar Losing Steam on Rate Outlook, Bullishness Deflating Gold Makes a Bearish Turn but Commitment Lacking Without Dollar New to FX? Watch thisVideo; For live market updates, visitDailyFX’s Real Time News Feed Dollar So Close to a Bullish Surge, What Does it Take? The Dow Jones FXCM Dollar Index (ticker = USDollar) has held just below critical resistance and fresh two month lows since risk-trends were rejected despite the otherwise ‘better-than-expected’ October payrolls. Taking a look at the chart of the Dollar Index, we find the big-ticket 10,000 figure is complimented by the 100 and 200-day moving averages – considerable weight to any technical trader. However, the most remarkable technical read on the greenback is also a very telling fundamental consideration: the average true range (ATR). Measuring the average of the currency’s daily range (on a rolling 10-day basis), we find that the dollar has carved out the smallest rate of activity since high and low data have been recorded – so since at least January 2011. Altogether, that tells us a significant swell of volatility is soon at hand. These measures of activity on the technical level are mirrored with what we have seen fundamentally. As the US benchmark equities have led a questionable march higher for riskier assets over the past months and years, we have also seen the FX Volatility Index slide to lows not seen since before the financial crisis in 2008 (the index is currently at 7.41 percent). The standard volatility indicators are both measures of insurance costs against adverse price movements and more elementally ‘fear’ gauges. Therefore, when these measures of risk rise, it is generally in response to a more active move towards risk aversion. That is a strong factor for the greenback – if and when it happens. Yet, we have seen the volatility measures continuously trend lower against a trend of more obvious troubles in growth trends, financial crises and fiscal imbalances. Though it doesn’t necessarily have to jump start a watershed event in speculative positioning, a sudden return of volatility through the immediate future is a particularly credible threat. That being said, this may be a pickup in activity that defies the common convention that a big swing in price action necessarily translates into risk aversion (a disconnect that would most likely bypass the traditional volatility readings). Markets are currently positions such that they reflect the ‘tail risk’ (low probability, but high impact potential) that the Euro-area crisis will hit critical mass and / or the US will hit the wall that is its Fiscal Cliff. Recently, however, EU officials have managed to by Greece a few more weeks and lawmakers on both sides of the US political spectrum have voiced confidence in a budget resolution. Winding down those factors could boost risk trends – and likely will. The critical question is how much is the market weighing this possible short-term relief against the obviously, long-term problems… Euro Finds Little Bounce from Greece Hole Plug, Spain Rescue Rumors European officials are struggling to put out fires as the flames come progressively closer with each swell. The newswires have been crowded by headlines that are clearly aimed at provoking fear in a rapidly deteriorating financial situation in the Eurozone. Yet, through all the countdowns to Greece running out of money, the questions over whether the Spain will ask for an official rescue and other (lesser) concerns that have intensified this past week; the euro has posted limited – though consistent – downside progress. In contrast, recent positive developments / speculation have yielded just as little return in the Euro’s favor. Between a bill auction yesterday and allowance of Asset Backed Securities use as collateral, Greece looks like it will be able to cover the bond maturity that happens on Friday. On another front, rumors were running in the speculative circles that Spain would soon seek a bailout. Neither risk (EURUSD) nor anti-risk (EURAUD) pair closed in the green for the euro. Perhaps the market is awaiting today’s event risk: Greek and Portuguese 3Q GDP. There is no misinterpret ting these reports. British Pound Rallies Briefly After CPI Data, Right Back Towards 1.5850 In quiet trading conditions, traditional fundamental releases – that would otherwise struggle for face time in market influence against larger themes like risk trends – can have a bigger impact on price action. That was the case with the pound and CPI data this past session. The headline CPI reading for October rose 2.7 percent on a year-over-year basis – a pickup from the lowest reading since November 2009. GBPUSD and other pound pairs responded with a brief bounce, but it wouldn’t hold. The BoE will not be hiking rates anytime soon. Japanese Yen: Risk Aversion May have Wavered but the Yen Hasn’t We have seen a strong risk aversion move this past week – though it may have been uneven across the markets – and the yen has certainly benefit the safe haven seeking. The only problem is that policy officials are trying to push the currency lower to offer some relief to the economy through exports. It is likely doubly frustrating that with recent hints over the past 24 hours at a possible bounce in risk trends that the yen has continued to gain ground against all of its counterparts. We have to wonder at what point, Japanese authorities will mimic the SNB. Swiss Franc at Two Month High Versus Euro, 1.2000 in Sight SNB President Jordan must not be happy. Two months ago, the EURCHF exchange rate finally picked up from the central bank’s force-imposed 1.2000-floor without the express influence of policy authority. Tail risk on the Euro-crisis seemed to ease and the safe haven flows reversed. Today, however, we are only 35 pips off that floor once again. After this brief jaunt, the market may realize the SNB will have to push it higher. Australian Dollar Losing Steam on Rate Outlook, Bullishness Deflating The Australian dollar seems to be relentless. The currency has climbed against the dollar and yen despite risk aversion moves from US equities this past week. And, despite the even footing, it has also advanced against fellow safe haven – the New Zealand dollar. The market hasn’t fully committed to risk aversion, but the Aussie’s true strength is the reduction of expected rate cuts. Well, that rebound seems to be fizzling out… Gold Makes a Bearish Turn but Commitment Lacking Without Dollar Gold has put in for three consecutive bearish days through Tuesday’s close. Though we haven’t moved very far on this retreat, it is still the worst trend for the metal in over a month. Until the dollar commits to a clear run – the anti-fiat / anti-inflation appeal of gold is put into the spotlight. Meanwhile, ETF holdings are at record highs and the CBOE’s gold volatility index has plunged back to multi-year lows (14.5 percent). Nov 14, 2012 OctaFX.Com News Updates

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OctaFX.Com - Forex: British Pound Leads Majors After Inflation Data ASIA/EUROPE FOREX NEWS WRAP The volatile supply-demand relationship that governs investors’ appetite for risky assets is at a stand still for a second consecutive day on Tuesday, as investors continue to clamor for safety amid renewed concerns out of Greece, all while the US fiscal cliff has come into focus following last week’s US Presidential Elections. S&P 500 futures are barely pointing lower, and a mid-morning rally by the European currencies has begun what could be an intraday reversal ahead of the US session. With some commentary on Greece coming from German Finance Minister Wolfgang Schaueble, there’s been very little of significance across the wires elsewhere this morning. Instead, the focus has been on data out of the United Kingdom, which has propelled the British Pound to the top performer today. The Consumer Price Index for October showed yearly inflation of +2.7% versus +2.4% expected, easily missing the consensus forecast provided by Bloomberg News. But this print best illustrates a recent problem for Bank of England policymakers, especially since the 2007-2008 financial crisis: an inability to accurately diagnose inflation problems. UK Gilts yields rose following the release, boosting the prospective return on the British Pound, thus allowing it to appreciate to the top spot on the day. The British economy is weak, but has shown signs of improvement in recent months, with the third quarter growth reading beating expectations handily last month (as I noted then, this appears to be a one-off event given bank holidays and the London Olympics). If the uptick in inflation is demand-pull in nature (the good kind: higher rates of employment boost consumption, which force sellers to raise prices to keep supply-demand relationship at equilibrium), then today’ October CPI release looks constructive. Taking a look at credit, weakness in peripheral bonds may be holding back the Euro on Tuesday. The Italian 2-year note yield has increased to 2.355% (+0.8-bps) while the Spanish 2-year note yield has increased to 3.202 % (+5.3-bps). Similarly, the Italian 10-year note yield has increased to 5.108% (+0.6-bps) while the Spanish 10-year note yield has increased to 5.909% (+4.6-bps); higher yields imply lower prices. Nov 13, 2012 OctaFX.Com News Updates

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OctaFX.Com - Trouble Brews for Euro as Greece Worries Grow The euro, which hit a two-month low against the dollar on Tuesday as hopes that Greece would receive essential aid soon faded, faces further losses as concern about Greece's future grow, currency analysts warn. The International Monetary Fund and euro zone officials on Monday failed to agree to a long-term plan to cut Greece's debt, preventing the release of immediate aid to Athens and pushing the euro (JPY) to a low of $1.2681 in Asian trade. Now more losses could be in store for the single currency, which has already shed 3.7 percent of its value against the dollar since hitting a peak in mid-September. "It's been a very protracted process and we have to say that it's taken rather longer than we had anticipated," Sean Callow, senior currency strategist with Westpac Bank in Sydney told CNBC Asia's "Squawk Box" on Tuesday, referring to the negotiations over Greece. "We're becoming increasingly bearish on the euro and we have pretty much given up on our previous expectation for it to recapture $1.30," he added. The euro zone is facing pressure to ink a deal on Greece as Athens has to redeem 5 billion euros ($6.35 billion) worth of treasury bills on November 16 and was dependent on funds from the next euro zone aid tranche to tide it over. (Read More: Greece Running Out of Cash; Government Under Threat) This is looking increasingly unlikely. The next meeting of euro zone's finance ministers, who met in Brussels on Monday, takes place on November 20, according to Euro group president Jean-Claude Juncker. It does not look like the money will be available in time and Greece now plans to issue new one-month and three-month treasury bills on Tuesday to raise one billion euros and 2.1 billion euros, respectively. But this is a short-term fix and until an agreement is reached on how to make Greek debt more sustainable, the euro will likely remain under pressure, analysts say. Change of Fortune The euro received a significant boost on July 26 after European Central Bank president Mario Draghi said the bank will do "whatever it takes" to prevent the euro zone from collapsing, sending the currency about 8 percent higher over 3 months. This rally looks like it's unravelling as markets worry about the consequences of a Greek debt default or the nation's exit from the euro zone. (Read more: "Grexit" could spark global economic crisis: German think tank) "We know that the Greek government will run out of money if it does not receive its next aid payment by the end of the month," Kathy Lien, managing director of BK Asset Management said in a note on Tuesday. "While everyone knows that the stakes are high and a default by Greece would spell big trouble for the euro zone as a whole, policymakers are dragging their heels and it is hurting the euro." Lien said she is awaiting more comments on Greece, especially on Germany's vote, on which the disbursement of any additional aid to Greece depends. Any additional release of German financing to Greece, as well as alterations to the terms of its bailout, would require passage by the full German parliament, which will be in session next week. "If we are lucky, Germany will vote and approve Greek aid next week because if they fail to do so, investors will become even more concerned about what could happen at the end of the month," she said. Until a deal is reached, the euro could test its 100-day moving average level around $1.2639, Credit Agricole's head of global forex strategy Mitul Kotecha said in a note on Tuesday. "Some clues to the timing of the next Greek loan disbursement will undoubtedly help the currency, assuming that it is not too far into the future," Kotecha said. "The euro will also need today's (Tuesday's) Greek treasury bill auction to go well to give it some support. Unfortunately for the currency the risks are still skewed to the downside," he said. Nov 13, 2012 OctaFX.Com News Updates

OctaFX.com- Forex Analysis: Trading Strategies Continue Buying US Dollar Article Summary: Our forex sentiment-based trading strategies have turned heavily long the US Dollar against major forex counterparts. Said systems have done well in recently-slow market conditions. And though past performance is not indicative of future results, we favor trading systems that have produced fairly consistent results across USD pairs. DailyFX PLUS System Trading Signals –The US Dollar (ticker: USDOLLAR) trades at multi-month peaks versus the Euro and other major counterparts; current market conditions suggest the Greenback could see further gains. We believe that the US Dollar may have set a significant bottom against the Euro and other counterparts on an important shift in forex sentiment. A key caveat remains, however: FX volatility levels trade near their lowest levels since the onset of the financial crisis. The safe-haven US currency tends to do well during times of financial market turmoil, and exceedingly steady market conditions often produce Dollar weakness. Yet we won’t argue with price action, and the fact remains that the USD currency remains in a steady uptrend—producing strong trend trading signals. Our forex sentiment-based trading signals are currently long the USD versus the Euro, Australian Dollar, British Pound, Canadian Dollar,and New Zealand Dollar. And though past performance is not indicative of future results, these trend trades have done reasonably well in recent months. We’ll stick to trend trades in several US Dollar pairs, but be wary of potentially choppy short-term price moves amidst extremely low forex options market volatility readings. DailyFX Individual Currency Pair Conditions and Trading Strategy Bias Nov 12, 2012 OctaFX.Com News Updates