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Forex: Commodity Currencies Rally, but Euro Remains Lower ASIA/EUROPE FOREX NEWS WRAP A quiet US trading session is on the horizon in light of the Veteran’s Day holiday, which has bond markets closed and lower volumes expected throughout the day on Monday. Nevertheless, with Asian and European markets fully online, there are have been some noteworthy developments that have influenced price action today worth discussing. Yesterday, the Samaras-led Greek government had its 2013 budget passed in parliament, clearing the way for Euro-zone finance ministers to vote on the next tranche of Greek aid later on today. Although the event would typically yield a more positive risk horizon, it appears that the measures passed will fall short of pan-European approval. A meeting is set for later today that should provide insight into this process. We expect some sort of intermediate measures to be proposed that keeps Greece afloat over the next few weeks, as the country is expected to run out of money (again) in the next week or so. The Euro seems to be reflecting this lack of enthusiasm, as the European currencies have trailed their Asia and North American counterparts for most of the day. With the US fiscal cliff squarely in focus – and freshly reelected President Barack Obama convening with Congressional leaders later this week – the Japanese Yen remains well-supported, while Gold and Silver continue to outperform and lead the broader market, as they have since their mid-September highs. Taking a look at credit, Euro weakness has been reflected by weakness in periphery bonds. The Italian 2-year note yield has increased to 2.318% (+2.5-bps) while the Spanish 2-year note yield has increased to 3.139 % (+8.7-bps). Likewise, the Italian 10-year note yield has increased to 4.995% (+3.4-bps) while the Spanish 10-year note yield has increased to 5.842% (+5.0-bps); higher yields imply lower prices. Nov 12, 2012 OctaFX.Com News Updates

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OctaFX.Com - Forex: Dollar Looks for Breakout Under Fiscal Cliff Insecurity Even the most optimistic investor has to be nervous about the state of risk appetite. This past week, the benchmark US equity indexes (Dow Jones Industrial Average and S&P 500) broke critical levels of support and plunged to three-month lows. That is a considerable warning that a bigger speculative deleveraging effort is under way. The shift from this particular market is particularly remarkable. Not only are equities the average investor’s ‘risky’ or growth-sensitive asset, but the Federal Reserve has further backstopped the market through stimulus. In other words, a turn here speaks to the kind of concern that not even a central bank guarantee can prevent. Under this kind of pressure, we would expect the Forex market’s preferred safe haven currency (the US dollar) to surge. So why hasn’t it taken off yet? Looking back at the greenback’s performance this past week, we see that progress has been uneven at best. The benchmark EURUSD has slipped to two-month lows below 1.2750 and GBPUSD has followed suit. That said, the far more risk-sensitive AUDUSD and NZDUSD have refused to definitively reverse their respective bull trends – an odd thing for carry pairs that should be exceptionally sensitive to sentiment trends. Furthermore, pulling back from the ebb and flow of risk, USDJPY has retreated sharply even though the yen faces immediate fundamental troubles with its fiscal health. Ultimately, it is the Dow Jones FXCM Dollar Index (ticker = USDollar) that best illustrates the reticence of the world’s reserve currency. Congestion has been tamed by the 100-day moving average and pulsating 10,000 figure above. Over the past months, we have seen a few disconnects between benchmark measures – though they haven’t been quite as flagrant. In most of those cases, the grounds for the divergence were a lack of conviction. Risk aversion (or risk appetite) wasn’t fully established, so either one asset was moving because it was extremely sensitive to sentiment or there was otherwise a completely different fundamental driver in play. There is an element of disbelief to this move as well. While there is plenty of fundamental fuel to raze sentiment to the ground (slowing growth, a downturn in earnings growth, Euro-area debt crisis, Asian financial troubles, US fiscal crisis, etc), we need the spark from the speculative ranks to ensure the spark catches. While hesitation is certainly an aspect, deleveraging is starting to give an active face to otherwise intangible fundamental worry. The moves we are starting to see should have leveraged more of a response from the dollar. Something else was acting against this straightforward speculative reaction – a buffer. That extra facet is the primary source of the fear that has developed - the ‘Fiscal Cliff’. This is a media-derived term that refers to a sudden expiration of tax cuts and implementation of spending cuts – activated at the end of the year if the US government cannot find a solution to rein the budget in. The $600 billion impact the cliff entails would easily drive the US economy to recession and carry serious ramifications for the global markets that are already on shaky footing. Normally, this would be a significant booster for the dollar. Why? Though the US would be the point of origin, the backdraft would be a global event that sent investors the world over seeking safety in the most liquid and trustworthy assets – ironically enough, the dollar and Treasuries. Yet, not this time. There is another element to this explosive mix. If the fiscal cliff scenario plays out, it would likely lead to a US downgrade. That would lower (marginally, but substantive) the dollar’s safe haven status. As we must often do as speculators, tracking out the path from here runs on the most probable outcomes and expectations as to how speculators will respond. It is highly unlikely that the US plummets over the fiscal cliff – though even if it did, the backlash of the diminished safe haven status would be short-lived and the dollar would rally back eventually. The more contentious scenario is that the budgetary issue is solved and the market expects it. As the most prolific threat to stability, the absence of this risk could lead to a rebound in risk and dollar tumble. There are other issues however. The dollar needs fiscal cliff uncertainty and broad risk aversion. Nov 10, 2012 OctaFX.Com News Updates

OctaFX.Com - Forex Analysis: New Zealand Dollar To Maintain Range-Bound Price On RBNZ Policy The New Zealand dollar pared the rebound from 0.8100 as the economic calendar instilled a weakened outlook for the region, but we may see the high-yielding currency preserve the range-bound price action carried over from the previous month as the Reserve Bank of New Zealand (RBNZ) persistently strikes a neutral tone for monetary policy. Indeed, the NZDUSD quickly fell back from a fresh monthly high of 0.8307 as New Zealand’s jobless rate advanced to 7.3% - the highest since 1999 – and the ongoing weakness in the real economy may continue to drag on the exchange rate as it spurs bets for a rate cut. However, RBNZ Governor Graeme Wheeler argued that lowering the benchmark interest rate further would have a limited impact in triggering a ‘major depreciation in the exchange rate in the short term,’ and continued to highlight the risk for a higher exchange rate should ‘New Zealand’s relative growth outlook continued to be perceived as favorable despite the lower terms of trade.’ At the same time, the central bank head warned ‘excessive credit growth could hinder rebalancing of the economy and accentuate existing vulnerabilities’ as household and businesses take advantage of record-low borrowing costs, and the uptick in private sector borrowing will certainly limit the RBNZ’s scope to ease policy further as it heightens the risk for an asset bubble. As the RBNZ sees the persistent strength in the local currency having a dampening effect on the real economy, we may see Governor Wheeler continue to rely on the transmission mechanisms to talk down the exchange rate, and we should see the central bank carry its wait-and-see approach into the following year as policy makers anticipate the rebuilding efforts from the Christchurch earthquake to spur domestic growth. Despite the dismal data coming out of the region, Credit Suisse overnight index swaps reflect a 22% chance for a 25bp rate cut at the December 5 meeting, and the central bank may continue to endorse a neutral policy stance in 2013 in order to mitigate the threat for an asset bubble. As the 10, 20, 50 and 100 Day moving averages on the NZDUSD start to converge with one another, the indicators instill a neutral outlook for the pair, and the kiwi-dollar may continue to track sideways ahead of the December meeting as it trades above the 0.7900 figure. However, we will keep a close eye on the relative strength index as it comes up against interim support around the 42 figure, and the oscillator may paint a bearish outlook for the NZDUSD should it continue to approach oversold territory. Nov 10, 2012 OctaFX.Com News Updates

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OctaFx - Forex Analysis: US Dollar Classic Technical Report 11.09.2012 Prices continue to flirt with 9963, the 38.2% Fibonacci retracement. Support is reinforced by a rising trend line set from the October 17 low (9933). A drop below this barrier aims for a support cluster in the 9861-85 area. Channel resistance is at 10006, with a break above that aiming for the 50% Fib at 10032. Daily Chart - Created Using FXCM Marketscope 2.0 Nov 9, 2012 OctaFX.Com News Updates

OctaFx - Forex Analysis: US Dollar Classic Technical Report 11.09.2012 Prices continue to flirt with 9963, the 38.2% Fibonacci retracement. Support is reinforced by a rising trend line set from the October 17 low (9933). A drop below this barrier aims for a support cluster in the 9861-85 area. Channel resistance is at 10006, with a break above that aiming for the 50% Fib at 10032. Daily Chart - Created Using FXCM Marketscope 2.0 Nov 9, 2012 OctaFX.Com News Updates

OctaFX.Com -Euro weakens as eyes turn to ECB meeting LONDON (Reuters) - The euro fell to a two-month low on Thursday despite approval of a crucial austerity package by Greece, with investors focused on a European Central Bank policy meeting later in the day. The ECB is widely expected to leave interest rates on hold, but comments by President Mario Draghi on the weak economic outlook and gloomy European Commission forecasts have raised speculation it might just cut its main rate from 0.75 percent. "If you wander around the trading floors they are flirting with the idea we could get a cut from the ECB today," said Daragh Maher, director of FX strategy at HSBC. The common currency was down 0.1 percent at $1.2765, not far from Wednesday's two-month low of $1.2736. The euro was under pressure even though the Greek parliament approved in the early hours of Thursday an austerity package needed to unlock international aid and avert bankruptcy, defying political rifts and violent protests. CLIFF EDGE LOOMS The dollar was up 0.1 percent, near a two-month high against a basket of major currencies of 80.924 (.DXY) hit on Wednesday, as concerns about U.S. fiscal problems raise its safe-haven appeal. Investors fear the preservation of the status quo in Washington after this week's elections means may make it hard to reach a deal on about $600 billion in spending cuts and tax increases due to start early next year, and that this could derail the U.S. economic recovery. The "fiscal cliff", which can be avoided only if Democrats and Republicans settle their differences in Congress, provoked a selloff on Wall Street on Wednesday. Asian markets followed suit, pushing the MSCI world equity index <.MIWD00000PUS> down 0.2 percent at 326.13 points. "The fiscal cliff is here and it will reveal itself to be very real," said Jeffrey Sica, president of Sica Wealth Management. Sica said higher capital gains taxes could form part of a Congressional deal to tackle the budget deficit, and this may be encouraging investors to sell equities. "The strong likelihood that capital gains (could) double will force investors to take profits now to avoid paying higher capital gains taxes later," he said. In Europe the FTSEurofirst 300 index (.FTEU3), which lost 1.4 percent in Wednesday's selloff, recovered slightly on Thursday to be up 0.15 percent at 1,100.85 points. London's FTSE 100 (.FTSE), Paris's CAC-40 (.FCHI) and Frankfurt's DAX (.GDAXI) all traded around 0.25 percent higher. (.L) (.EU) U.S. stock futures were also higher, up 0.2 percent, pointing to a recovery when Wall Street opens. (.N) SPANISH TEST In the fixed income market the approaching ECB meeting kept most prices little changed. Much attention focused on a Spanish sale of 4.8 billion euros ($6 billion) of new debt, which included a 20-year bond - the longest dated issue to be auctioned since mid-2011. The sale drew good demand as Spain's debt has been trading in relatively narrow ranges since the ECB promised to step in buy unlimited amounts of the bonds, provided Madrid requests help and agrees to a closely-monitored economic reform programme. Spanish 10-year bond yields gained 5 basis points after the auction at 5.77 percent, but German 10-year bonds, often an indicator of any change of sentiment in the euro zone, were largely unchanged at 1.38 percent. Commodities markets focused on developments in China where the government has begun a once-in-a-decade leadership change against a backdrop of growing social unrest and public anger at corruption and a gap between rich and poor. Traders are looking for hints from the Communist Party Congress on future policy direction that may affect demand from the world's biggest consumer of many industrial commodities. "So far, contents of speeches from the 18th Party Congress have been within expectations. There hasn't been anything particularly encouraging to investors," said Orient Futures derivatives director Andy Du. Oil rose after tumbling more than $4 on Wednesday amid concerns about weak demand for fuel as the U.S. and European economies face the risk of a prolonged slowdown. Brent Crude traded 56 cents higher at $107.35 per barrel after posting its steepest fall since 2011 on Wednesday. U.S. crude rose 56 cents to $84.99 a barrel. (O/R) ($1 = 0.7840 euros) Nov 8, 2012 OctaFX.Com News Updates

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OctaFX.Com - Forex Analysis: Dollar Selling on US Election Result May Be Fleeting The US Dollar fell on waning haven demand as risk appetite firmed following a clear-cut outcome to the US election but markets’ chipper mood may be short-lived. Talking Points US Dollar Falls on Swelling Risk Appetite After US Election Outcome S&P 500 Futures Hint Sentiment Likely to Stay Supported Near-Term Markets’ Chipper Mood May Unravel as “Fiscal Cliff” Fears Resurface Euro May Underperform if Greece Fails to Pass New Austerity Plan The US Dollar weakened in overnight trade as risk appetite swelled across financial markets – weakening forex traders’ demand for the go-to haven currency – in the aftermath of the US general election. The ballot handed victory to President Barack Obama while challenger Governor Mitt Romney conceded. As we argued yesterday, any outcome that produced a clear winner was likely to be greeted by investors hopeful for a swift re-orientation toward resolving the looming “fiscal cliff” fiasco. Looking ahead, a quiet economic calendar is likely to keep the election front and center as financial markets around the world take their opportunity to respond to the results. S&P 500 stock index futures have erased earlier losses ahead of the opening bell on Wall Street, suggesting the risk-on bias into the hours ahead. Investors’ chipper mood may not prove lasting however, opening the door for the greenback to mount a swift recovery. All signs appear to point to an extension of the status quo in the US political landscape, with President Obama’s victory matched by another Democrat-controlled Senate and Republican-dominated House of Representatives. That may spark fears of renewed deadlock as markets tremble at the thought that a set of automatic spending cuts and tax hikes slated to trigger at the turn of the calendar year will tip the US back into recession. Such prospect bodes ill for global growth in an environment where the Eurozone is contracting while China slows. In Europe, all eyes are on Greece where the parliament will vote on an austerity package agreed-upon by the Samaras administration and the EU/ECB/IMF troika. Fears that opposition parties will torpedo the poll and delay the release of the latest tranche of bailout funds has scope to trim risk appetite and dent the ability of the Euro to capitalize on the post-US election festivities. On the data front, German Industrial Production is seen falling for a second consecutive month in September while Eurozone Retail Sales snap four months of gains to yield a negative print in the same period. Nov 7, 2012 OctaFX.Com News Updates

OctaFX.Com - Forex Analysis: Dollar Slowly, Consistently Edges Lower as Equities Swing Dollar Slowly, Consistently Edges Lower as Equities Swing The US Presidential elections have a long standing influence over investor confidence. The outcome of political power in the world’s largest economy can significantly influence growth, trade and financial regulation. However, as with any economic event, this particular driver is set within a hierarchy of fundamental impact. Regardless of who wins the election, it would still be a struggle to answer the United States’ Fiscal Cliff. Furthermore, we have other big-ticket items such as the Euro-area crisis, Chinese regime change and Japanese fiscal countdown that all denote a distinctive impact on global markets. With that in mind, we recognize the market’s unusual activity over the past 24 hours. It is very similar to how we approach the average NFPs release: even though the event’s outcome is not likely to have a lasting influence over a fundamentally-crowded market, the uncertainty its presence carries pumps volatility and sidelines trend generation. Now, as we move forward, we may very well see risk trends regain traction and revive cross-market correlations. Through the past trading session, we witnessed a significant deviation between the standard ‘risk’ measures. While the S&P 500 rallied sharply into resistance (13,300), the Forex’s safe haven US dollar was holding relatively steady. Soon after the NY market close, equities took to a quick reversal while the dollar accelerated into its decline with EURUSD moving back above 1.2825 – yet another contradictory sentiment move. As the election results started to take shape in the overnight, however, risk’s influence started to firm up. With the dollar holding onto its losses, the equity futures found a moderate bounce. Revived correlations are a strong step towards developing a lasting trend. Yet, does a resolution of the US vote equate to a better investment environment. The bigger, international concerns aside; the unconfirmed vote tally leaves the United States with a divided Congress that may struggle to force necessary budgetary changes to avoid the looming fiscal cliff. Euro May Climb on US Crisis Distraction - Juncker Most policy makers (fiscal and monetary) follow academic lines of thought in their expectations of how their efforts will impact their economies and currencies. However, every now-and-then there is an official that acknowledges the speculative influence in the market. Euro Group head Jean-Claude Juncker revealed a streak of ‘trader’ in his outlook when he remarked early Wednesday morning that the US Fiscal Cliff could direct negative attention away from the Euro-area (offsetting the more ‘cheerleading’ effort in suggesting Europe’s fundamentals were better than those of the US and Japan). From a real world market perspective, the countdown to the United States’ self-imposed deficit adjustment can paint a far less stable situation than the more measured austerity balance in the Eurozone. That said, there are two variables in this austerity comparison. The euro’s own fundamental issues are more immediate than the end-of-the-year countdown for the US. This past session, Greece’s general strike set the backdrop to the Parliamentary vote on the new austerity bill (reportedly aiming to cut pensions by 15 percent and raise the retirement age). Spain’s Rajoy suggested he would not ask for a rescue unless forced to - saying he needed to be certain it would lower yields. Today is a Euro-risk lull. Thursday brings forecasts, meetings and the ECB decision. Australian Dollar Presses Through Risk Trends on Improved Rate Outlook Risk trends have shifted back and forth over the past 24 hours, yet the Aussie dollar maintained its bullish ambitions. While US equity futures took a dive through the early Wednesday trading session, AUDUSD held steady above 1.0400. This is partially due to the greenback’s own lack of commitment; but other, less investment-sensitive Aussie pairs (AUDNZD, AUDCAD, GBPAUD) have shown a consistent support for the commodity currency. This additional strength can be easily traced back to the RBA. The central bank held its benchmark lending rate yesterday morning to catch a significant portion of the market off guard. With the market pricing in a 47 percent probability of a cut and 20 of 27 economists in a Bloomberg poll expecting the same, there was a surprise quotient. The 12-month rate outlook now calls for only 50 bps worth of cuts. Japanese Yen: Officials Want Risk Trends, Stimulus to Weigh Currency With the volatility on risk trends elevated, the Japanese yen is under scrutiny. However, policy officials are no doubt hoping that the US election results can sustain a buoyant outlook. Yesterday, BoJ Executive Director Hayakawa (in charge of monitoring the financial system) stated his belief that the bank’s new lending program (unlimited at a marginal 0.1 percent) could weaken the currency. His supposition was that this effort would translate into a pickup in carry interest. However, carry is a global factor and rates are low worldwide. What they need is true risk appetite. New Zealand Dollar Advances after RBNZ Financial Report, Ahead of Jobs Data Green RBNZ Governor Graeme Wheeler is keeping up the effort of stirring speculative interest in the kiwi. The central banker released the Financial Stability Report this morning. In the statement, Wheeler said stated that he believed it was unlikely that the kiwi exchange rate would fall significantly going forward – adding weight to his dismissal of QE. Up next, we have jobs figures for hard data. Swiss Franc: FX Reserves Expected to Build, Though Euro Share Under Scrutiny The Swiss National Bank already holds 432 billion francs in foreign currency reserves – a record for the group and one of the highest amongst its counterparts. The update for October is due in the upcoming European session and a fresh high is expected. However, those monitoring the EURCHF will be more concerned about the possible composition of holdings. The central bank has slowly diversified away from euros recently. Gold Surges During US Election, Trend is a Dollar Matter There was some speculation amongst the gold bugs that if the US election went a certain way, Fed Chairman Bernanke would be ousted and the policy of stimulus expansion would be reversed with his exit. It is a stretch to say the metal rallied because this scenario was disproved; but it would be outright dangerous to trade on this belief carrying a lasting influence. The next move for gold will be based on the dollar. Nov 7, 2012 OctaFX.Com News Updates

OctaFX.Com - Forex Analysis: US Dollar Stalls at Resistance as S&P 500 Bounces THE TAKEAWAY:The US Dollar has stalled below technical resistance as the S&P 500 has once again managed to hold up above the stubbornly resilient 1400 level. US DOLLAR TECHNICAL ANALYSIS– Prices narrowly edged though resistance-turned-support at 9963, the 38.2% Fibonacci retracement. Sellers now aim to target 9868-77 area, marked by a rising channel bottom set from mid-September and a falling channel top established from the June 1 high. Resistance is at the 10000 figure, with a break above that aiming for the 50% Fib at 10032. Daily Chart - Created Using FXCM Marketscope 2.0 S&P 500 TECHNICAL ANALYSIS – Prices are retesting support-turned-resistance in the 1424.90-30.90 area, with a break higher aiming to challenge the underside of a rising channel set from the June 4 swing low (now at 1450.30). Near-term support lines up at the 1400 figure, with added reinforcement offered by the 38.2% Fibonacci retracement at 1394.30. A drop below the latter level targets the 50% Fib at 1369.40. Daily Chart - Created Using FXCM Marketscope 2.0 Read more click here Nov 7, 2012 OctaFX.Com News Updates

OctaFX.Com - Forex Analysis: US Dollar Breaks Resistance as S&P 500 Rally Fizzles THE TAKEAWAY:The US Dollar continued to grind through layers of technical resistance as an upside surge in the S&P 500 failed to produce meaningful follow-through. US DOLLAR TECHNICAL ANALYSIS– Prices are pulling back to retest resistance-turned-support at 9963, the 38.2% Fibonacci retracement. A break below this boundary exposes the 9874, a level marked by the intersection of a rising channel bottom set from mid-September and a falling channel top established from the June 1 high. Channel resistance is at 9998, with a break above that aiming for the 50% Fib at 10032. Daily Chart - Created Using FXCM Marketscope 2.0 Nov 6, 2012 OctaFX.Com News Updates

OctaFX.Com - Forex Analysis: Dollar at Risk if US Election Yields Decisive Outcome The US Dollar is likely to face selling pressure if the US general election yields a decisive outcome, opening the door for a re-focus on resolving the “fiscal cliff” fiasco. Talking Points All Eyes on US Election, Forex Traders to Welcome Any Decisive Result Euro, Pound May Suffer as Data Boosts Bets on ECB and BOE Stimulus Aussie Dollar Leads Comm Bloc Higher as RBA Leaves Rates Unchanged A busy European economic calendar is likely to be overshadowed as traders await the outcome of the US general election. Financial markets appear broadly chipper, which likely reflects hopes for an easing to the deadlock in Washington DC in the months leading up to today’s ballot. Indeed, a decisive victory by either candidate that opens the door for the current President and legislature to shift their focus toward addressing the fast-approaching “fiscal cliff” – a set of automatic spending cuts and tax hikes slated to trigger at the turn of the calendar year that may tip the US back into recession – is likely to be seen as broadly supportive for risk appetite. Indeed, S&P 500 index futures are pointing higher, warning the safe-haven US Dollar is vulnerable. On the data front, the spotlight is on the final revision of October’s Eurozone PMI Composite reading. Expectations call for confirmation at a 40-month low, an outcome that may put downward pressure on the Euro as forex traders consider deepening recession to increase the probability of additional easing from the ECB. UK Industrial Production is likewise on the docket, with forecasts pointing to another contraction in September. The result may weigh on the British Pound as markets consider the possibility of a QE expansion after the BOE completes the latest round of asset purchases this month. The so-called “commodity bloc” currencies outperformed in overnight trade as risk appetite firmed across financial markets. The MSCI Asia Pacific regional stock index rose 0.2 percent, pulling the growth-geared Canadian and New Zealand Dollars higher against their US namesake. The Australian Dollar outperformed its counterparts after the Reserve Bank of Australia opted to keep rates unchanged at 3.25 percent. RBA Governor Glenn Stevens said that while “risks to the outlook are still seen to be on the downside…prices data [turned out] slightly higher than expected and recent information on the world economy slightly more positive.” Stevens added the effects of past rate cuts continue to filter into the overall economy, hinting that will offer ongoing stimulus even without an additional reduction this time around. Nov 6, 2012 OctaFX.Com News Updates

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OctaFX.Com - Dollar strength keeps gold gains in check MADRID (MarketWatch) — Gold futures rose Monday to recover a fraction of recently lost ground last week, but further moves higher for the dollar were keeping a lid on gains as investors got jittery ahead of the U.S. presidential election. Gold futures for December delivery GCZ2 ticked up $6.50 to $1,681.70 an ounce in electronic trading on the Comex division of the New York Mercantile Exchange. In regular trading hours on Friday, gold futures tumbled $40.30, or 2.4%, to settle at $1,675.20 an ounce, the metal’s lowest level since last August. See: Gold drops more than $40, suffers fourth weekly loss “Gold continues in a consolidation phase within an ongoing bull trend,” said Ross Norman, chief executive officer at Sharps Pixley. “A lot of people are frustrated by gold’s actions since last summer, but good jobs data last Friday translated into a stronger dollar,” he said. “On the other side of that is gold weakness. The market is making a small, but steady recovery, but dollar strength continues to weigh heavily on gold at the moment.” Gold losses were triggered by a better-than-expected report on U.S. employment, which showed payrolls rose 171,000 in October, well above the 120,000 new jobs that economists had expected. See: U.S. adds 171,000 jobs as hiring picks up That news boosted the dollar. A stronger dollar tends to weigh on prices for dollar-denominated commodities such as gold, since it makes them more expensive for holders of other currencies. The ICE dollar index DX-Y.NYB recently rose to 80.729, up from 80.600 in late North American trading Friday. See: Dollar rallies as jobs data spur QE doubts The euro EURUSD dropped to a nearly two-month low against the greenback on Monday amid renewed uncertainty over Greece’s next tranche of bailout money. Some caution ahead of the U.S. election also underpinned the greenback. U.S. stocks traded lower in early action and Europe and Asia stock markets also fell. Julian Jessop at Capital Economics said that the drop for the precious metal on Friday underlined its sensitivity to expectations of further central-bank monetary support. “Commodity markets are probably right to be thinking that they cannot rely both on a strong economic recovery in the U.S. and unlimited largesse from the Fed,” they said. For a stronger rebound, gold will need a new catalyst, Jessop said. “This is likely to come soon in the form of a renewed escalation of the crisis in the euro zone and a revival of safe-haven demand,” he said. Deutsche Bank commodity strategists said that they expected a renewed weakening in the U.S. dollar to help precious-metal returns into the end of the year. Reuters Gold edges higher Monday after dropping 2% in the previous session. “We find a weak seasonal tendency for the U.S. dollar to display extreme weakness during December,” they said. Across the rest of the metals complex, silver for December delivery SIZ2 rose 11 cents to $30.97 an ounce, palladium futures for delivery in the same month PAZ2 fell $1.45 to $598.20 an ounce, while platinum for delivery in January PAF3 fell $1.70 to $1,543.20 an ounce. December copper futures HGZ2 edged down 2 cents to $3.46 per pound. Nov 5, 2012 OctaFX.Com News Updates

OctaFX Champion Contest Round 6 Grand Award! Dear traders! Today OctaFX is proud to present you the Grand Winners Award of the OctaFX Champion Demo Contest Round 6! There has been a lot of struggle, leaders had an enormous race and changed rankings almost every day until the contest was over! Certainly all of you are interested in how they managed to get these fantastic results. We interviewed our winners and asked them to unveil their success formulas! And the winner is… 1st prize, 500 USD, and all the glory to Mr. Alfian Wijayanto from Indonesia Q: What is the key factor of your success? Why are you better than everyone else? A: I was just lucky, my system manual trading, i like forex, depends on your intention would be successful or not, all of that takes time and a lot of practice and learning 2nd prize, 300 USD, and our sincere congratulations to Mr. Rinawati Oktona from Indonesia Q: What is the main idea behind your winning strategy? What would you advise to other traders? A: discipline and follow the system I have, forex is art, it takes a long time which is important to never give up and keep trying 3rd prize, 100 USD, and give props to Mr. Hadi Sulistiyo Indonesia Q: What would your message to traders around the world be? A: I want to thank OctaFX, because I joined the best broker Octa Markets Incorporated, tenacious and persevering take a position at the right time. Finally the last, but not the least prize winner, Mr. Goran Vincic from Serbia. On behalf of OctaFX we would like to thank our winners for taking part in our contests and for sharing their opinions and secrets. Take part in OctaFX contests and win cool prizes! Start your successful trading with OctaFX today

OctaFX.Com - Forex News: Sterling Rises as UK Construction Activity Expands THE TAKEAWAY: UK construction PMI for October rises to 50.9 -> Report is very pessimistic despite expansion -> Sterling rises Following two months of reduction, UK construction activity expanded in October according to Markit’s Purchasing Managers’ Index. The construction PMI was reported at 50.9, beating expectations for an index result of 49 and higher than last month’s 49.5 index result. A PMI result below 50.00 indicates deterioration in activity. Civil engineering saw a rise in construction output, while residential output was the weakest area of construction, and commercial activity was marginally reduced. New order volumes for construction were lower which led to lower employment in the industry. Markit’s Senior Economist Tim Moore said that, ‘the bigger picture remains bleak given ongoing falls in new orders alongside renewed job cuts across the sector over the month.’ Yet despite some of the pessimism in the report, Sterling climbed higher in forex trading on the surprising index level. GBPUSD climbed above 1.6100 following the release of the forex news. Resistance could be provided by a two week high around 1.6174. GBPUSD 15-minute: November 2, 2012 Nov 2, 2012 OctaFX.Com News Updates

Free 8 USD bonus is now easier to receive! Dear clients! We would like to inform you that 8 USD free welcome bonus conditions have been changed since 01.10.2012. The changes are intended to make you receive the bonus easier and faster and also to provide higher security level. Here are the main changes: You don’t need to verify your account any more. The bonus is now deposited into your account INSTANTLY and you don’t have to wait for verification. You also don’t need to verify your account upon withdrawal. A wise system introduced to prevent multiple bonus accounts registrations. It also works instantly. We do not tolerate multiple bonus account opening. We would like to ask about some feedback about our services during withdrawal. You opinion matters, so please help us improve our services. Please feel free to open a new welcome bonus account on the bonus page. We would like to thank you for trading with OctaFX and being our client. Start your successful trading with OctaFX today

OctaFX.Com - Forex Analysis: US Dollar Classic Technical Report 11.01.2012 Prices remain wedged between resistance-turned-support at the upper boundary of a falling channel set from the June 1 high (9884) and the 38.2% Fibonacci entrancement at 9963. A break higher exposes the 50% Fib at 10032. Alternatively, a drop below support targets rising trend line support at 9867. Nov 1, 2012 OctaFX.Com News Updates

OctaFX.Com - MASSIVE Spread Reduction at OctaFX! This is a revolution in lowering the spreads that happened in OctaFX! We have reduced major currency spreads! Now you can enjoy trading with as low as 0.2 pip spreads. They’ve never been that tight. Open account today and enjoy the lowest spreads ever at OctaFX! OctaFX is proud to offer top-notch service level to its customers. Please stay tuned for the news and updates from OctaFX!

OctaFX.Com - MASSIVE Spread Reduction at OctaFX! This is a revolution in lowering the spreads that happened in OctaFX! We have reduced major currency spreads! Now you can enjoy trading with as low as 0.2 pip spreads. They’ve never been that tight. Open account today and enjoy the lowest spreads ever at OctaFX! OctaFX is proud to offer top-notch service level to its customers. Please stay tuned for the news and updates from OctaFX!

Current update of King of the Road Real Contest from OctaFX! Dear, OctaFx valuable members, since you know Octafx offering the best platform for trading as well running numourious contests so, by this clients can use their experience and skill and get big prizes from OctaFx. Join King of the Road Real contest today and win one of our outstanding prizes! OctaFX wishes you luck and let the strongest become a true King of the Road!

OctaFX.Com - ECB: Loan demand sags in slack eurozone economy Eurozone central bank reports 'pronounced' fall in demand for loans as businesses hold back Unemployment for the 17 countries that use the euro rose to a record high of 11.6 percent in September. Oct 31, 2012 OctaFX.Com News Updates