OctaFX_Farid

Japanese Q2 GDP could surprise to the downside – Westpac FXStreet (Edinburgh) - Analyst Tom Wayne at Westpac suggested the possibility that the Japanese GDP could disappoint markets in the second quarter. Key Quotes “The Bank of Japan and the Ministry of Finance each conduct comprehensive quarterly surveys of Japanese businesses”. “The MOF’s BSI surveys 16000 corporations of varying sizes, while the BoJ’s Tankan covers around 1000”. “We use the detailed responses to forecast quarterly GDP growth... forecasts based on responses to the BSI are a better fit than those based on Tankan, though both surveys tend to point in the same direction”. “There was some divergence between BSI and Tankan respondents in Q2, with BSI reporting a decline in fixed investment over the quarter while Tankan shows an unexpectedly large increase (4.3 vs -5 in Q1)”. “Despite this difference, both models highlight the downside risk for Q2 GDP growth, with Tankan and BSI forecasting 0.3% and 3% contractions respectively”. July 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

USD/CAD consolidates at lows FXStreet (Córdoba) - USD/CAD is consolidating at daily lows after falling sharply at the beginning of the New York session weighed by disappointing US nonfarm payrolls and factory orders. USD/CAD pulled back from a 3-month high of 1.2632 scored during the European session and slid to the 1.2545 area before finding support at the 50-hour SMA. At time of writing, USD/CAD is trading at 1.2553, down 0.28% on the day. USD/CAD key levels On the downside, immediate supports are seen at 1.2500 (psychological level), 1.2472 (Jul 1 low) and 1.2395 (100-day SMA). On the upside, resistances could be found at 1.2632 (Jul 2 high) and 1.2645 (Apr 13 high). July 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

Focus likely to be on ECB’s ELA after referendum – TDS FXStreet (Edinburgh) - Strategist Rich Kelly at TD Securities assessed the implications for the ELA mechanism after the Greek referendum on Sunday. Key Quotes “On the back of a 'No' vote, we would expect the market reaction to be about twice as intense as what we saw on Monday, but with a more protracted inability for the market to completely move on”. “The biggest question mark will be the ELA. As long as the two sides remain in discussions, we think the ELA remains in place, even though we think the creditors will be unwilling to come to any agreement with Syriza”. “We would, however, expect the ECB to increase its haircuts on ELA collateral shortly thereafter to help offset some of the further risks to its balance sheet, though not enough to cap out any individual bank”. “Defaulting on the samurai bond could trigger a credit event with ISDA after July 14”. “Defaulting on bonds held by the ECB on the 20th would not trigger a credit event, but we could see the ELA terminated at that point”. “But even if the ECB chose to follow their self-imposed rules and end the ELA, they would also likely counter that with additional frontloaded QE over the next few months and announce additional liquidity tenders in order to quell market volatility for the rest of the Eurozone”. “Exposures to Greece in Bulgaria, Romania, and Turkey may be the first to come under the microscope both of markets—and policymakers in those countries—as well”. July 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

RBA to stay on the sidelines next week – TDS FXStreet (Edinburgh) - Rich Kelly, Strategist at TD Securities, expects the RBA to leave rates on hold at its next meeting. Key Quotes “We expect the RBA to leave the cash rate at 2% at next week’s meeting and for the bank to exclude an explicit easing bias”. “The statement should be a cut and paste of the June statement, so there should be no surprises”. “The RBA remains in a period of inactivity with no fundamental catalyst to cut over the next 2-3 months”. “Data has not been weak enough to warrant an RBA shift, even if underlying Q2 CPI (out on July 22nd) comes near the RBA’s 2.25% forecast or slightly below”. “However the Bank is likely to reaffirm its view on the AUD stating that “further depreciation seems both likely and necessary.” July 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

EUR/USD stuck around 1.1100 FXStreet (Edinburgh) - The shared currency is retaining today’s gains vs. the greenback, with EUR/USD trading comfortably in the 1.1100 area. EUR/USD upside capped at 1.1120 The pair could not sustain the post-Payrolls spike to session tops around 1.1120, leaving the bulk of the trade in the 1.1080/1.1100 band instead. Poor results from the US labour market during June failed to ignite a more durable bull run in the pair, which remains more dependent on the outcome of Sunday’s referendum in Greece. Moving on to Friday’s docket in Euroland, the final figures of the Services PMIs are due ahead of EMU’s Retail Sales for the month of May (0.1% MoM exp.). EUR/USD levels to consider The pair is now advancing 0.39% at 1.1096 with the next resistance at 1.1171 (high Jul.1) followed by 1.1234 (high Jun.24) and finally 1.1244 (high Jun.30). On the downside, a breach of 1.1032 (low Jul.2) would target 1.1000 (psychological level) en route to 1.0955 (low Jun.29). July 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

EUR/GBP bulls stay on track ahed of Greece referendum FXStreet (Guatemala) - EUR/GBP is currently trading at 0.7103 with a high of 0.7119 and a low of 0.7070. EUR/GBP has been on the bid with the pound offered throughout the markets this Thursday, only finding some slight relief on US Nonfarm Payrolls while EUR takes more advantage of the sell off in the greenback. EUR/GBP price action EUR/GBP has been been drifting to the upside from 0.7085 within a channel within a process of lower lows up to aforementioned highs and on to the 0.71 handle where resistance keeps a lid on further advances at this stage, with supply taking over at time of writing down to test the bulls commitments around the figure. EUR/GBP fundamentals as we await Greece referendum It has been a day for US data while markets await the possible referendum this weekend in Greece for further catalysts while talks between Eurogroup and Athens have ceased until an outcome form the weekends events. The European session was less liquid ahead of the Nonfarm Payrolls results that failed to support the dollar and hence a rise in both Sterling and the euro with the cross on the bid. Nonfarm Payrolls resulted in 223k vs 230k expected and 254k previous. EUR/GBP technically on a minor recovery of bearish gap EUR/GBP is making a good recovery from 0.7010 region and of the downside from 0.7112 yesterday and remains within the overall bullish development post the bearish opening gap at the start of this week. Meanwhile, Karen Jones, chief analyst at Commerzbank noted the technical conditions surrounding EUR/GBP and how EUR/GBP recently charted a key day reversal from the base of the 0.6985 6 year down channel. July 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

EUR/GBP: Headed for 0.7206 - CB FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted the technical conditions surrounding EUR/GBP. Key Quotes: "EUR/GBP has recently charted a key day reversal from the base of the 0.6985 6 year down channel. This was our medium downside target. Intraday Elliott wave counts are suggesting that we allow for recovery to the 55 day ma at 0.7206 but I have little beyond that." "Dips lower will find minor support at 0.7080/60 ahead of 0.6985. Failure here will target the 0.6571/41 2007 low. Above 0.7212 will allow for a deeper recovery to the 0.7314 2015 resistance line." July 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

IMF: Greece needs €50 billion in new funds and large scale debt relief FXStreet (Córdoba) - While Greeks set up for the referendum on whether to accept more austerity measures demanded by creditors in exchange for aid, the International Monetary Fund (IMF) described Greek debt as “unsustainable” and said the country needs large scale debt relief. In a report, the IMF said Greece needs €50 billion in new funds over the next three years and large scale debt relief to create “a breathing space” and stabilise the economy. The institution suggested it will not back up a third Greek bailout unless it included both a commitment to economic reform and debt haircuts. The IMF estimates that even if Greece had primary surplus of 2.5% and real GDP growth of 1%, a significant haircut would still be required and warns that Greek GDP forecasts are subject to very considerable downside risks. Extract from IMF document, via The Guardian: “Even with concessional financing through 2018, debt would remain very high for decades and highly vulnerable to shocks.” “Given the fragile debt dynamics, further concessions are necessary to restore debt sustainability. As an illustration, one option for recovering sustainability would be to extend the grace period to 20 years and the amortization period to 40 years on existing EU loans and to provide new official sector loans to cover financing needs falling due on similar terms at least through 2018”, says the IMF. July 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

EUR/USD bearish bias into next week – BTMU FXStreet (Barcelona) - With the Greece referendum being the key risk for EUR/USD in the near-term, the Bank of Tokyo-Mitsubishi UFJ Team maintains a bearish bias on the pair into next week, forecasting a 1.0800-1.1400 range. Key Quotes “We are maintaining a wider than usual trading band for the week ahead given the crucial importance of the referendum in Greece on Sunday. As the referendum has been called at short notice and during exceptional economic circumstances, the outcome from the referendum remains highly uncertain. The few opinion polls have provided no clear cut signal as to which way the Greek people are likely to vote.” “We are assuming that the Greek public will vote “Yes” given their desire to remain within the euro-zone. However, the Greek government is campaigning for a “No” vote stressing there is no clear direct link between voting against austerity and leaving the euro-zone. However, if there is a “No” vote it will make it even more difficult for the creditors to reach an agreement with the current Greek government. Without an agreement the ECB will remain under pressure to pull emergency financing from the Greek banks moving Greece closer towards an exit from the euro-zone placing more downward pressure on the euro.” “Alternatively if the “Yes” vote prevails, the current Greek government would likely be replaced by a national unity government tasked with securing an agreement with the creditors. The euro may stage a limited relief rally although a return to relative fundamental drivers would likely see the euro soon come back under downward pressure.” “EUR/USD – Bearish Bias – (1.0800-1.1400)” July 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

GBP/USD revisits 1.5620 after US factory orders data FXStreet (Mumbai) - The GBP/USD pair rose to trade near 1.5620 after the USD bears caught a second wind after the factory orders data in the US contracted more than expected. Gains capped at key Fib resistance The pair failed to take out the resistance at 1.5638, which is the 38.2% Fib R of June rally. A minor recovery in the USD pushed the pair back to 1.56-1.5610 band, before the pair rose back to 1.5620 after the official data in the US showed factory orders in June fell 1%, beating the estimated fall of 0.5%. Moreover, the rate hike bets dropped due to the disappointing data sets released today in the US. Fed funds futures show there is a 27% chance the central bank will increase its benchmark rate from near zero in September, down from 35% Wednesday. It remains to be seen if the pair manages to take out the resistance at 1.5638 ahead of the early weekend in the US on account of a trading holiday on Friday. GBP/USD Technical Levels The immediate resistance is located at 1.5638, above which the pair could target 1.5688 (hourly 10-MA). On the flip side, a break below 1.5600 could see the pair re-test the daily low of 1.5565. July 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

USD/CHF might see an attempt towards 0.9530/43 – Commerzbank FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, believes that USD/CHF might make an upside move towards 0.9530/43 and even 0.9581. Key Quotes “USD/CHF is looking a bit perkier as it has completely ignored the key day reversal to the downside and has eroded the near term resistance line to head into the middle of the cloud. We would allow for an attempt on the 200 day ma and the May high at .9530/43 and the top of the cloud at .9581.” “Current Position: None. Recommended Trade: Attempt tiny longs .9375, add .9340, stop .9240” July 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

Treasury yields drop as US wage growth stalls in June FXStreet (Mumbai) - The Treasuries gained, pushing the yields lower after the payrolls report in the US showed the pace of job addition sowed in June, while wage growth stalled, raising doubts whether the economy would be able to sustain rate hikes. Rate hike expectations drop Fed funds futures show there is a 27% chance the central bank will increase its benchmark rate from near zero in September, down from 35% Wednesday. Consequently, the yield turned lower. The 2-year yield, which mimics short-term interest rate expectations, now trades 4.7 basis points lower at 0.641%. The yield of the benchmark 10-year Treasury note fell 4 basis points to 2.38%. The 30-year yield also fell to 3.179%. The interest rate sensitive 2-year yield now trades 4.7 basis points lower at 0.641%. The pace of job additions slowed, although the number stayed below 200K. However, the growth in the average hourly earnings stalled, which raised questions whether the spike in the personal sending seen last month shall last. July 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

Positioning for USD/JPY upside using options ahead of near-term risk events – Nomura FXStreet (Barcelona) - The Research Team at Nomura, position for USD/JPY upside into the September FOMC meeting using options, expecting the pair to break above 125.86. Key Quotes “We are adding fresh USD/JPY long exposures via 3m call spread (125.50- 128.00), which cost 0.46% at a spot reference of 123.17, with a max payout of 1.95%. We commit $100K to the position, in our model $100mn portfolio. Ahead of the September FOMC, we expect USD/JPY to break the recent high (125.86), and are recommending to position for that.” July 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

GBP/USD posts daily highs after disappointing US nonfarm payrolls FXStreet (Córdoba) - GBP/USD saw a short-lived spike and printed fresh daily highs after the release of disappointing US nonfarm payrolls report. Weak US employment data weighs on the dollar US economy created 223,000 new jobs in June, missing expectations of 230,000 and below a downwardly revised gain of 254,000 in May. The unemployment rate edged lower to 5.3% from 5.5% the previous month but wages were flat and the participation fell. Separated data showed US initial jobless claims increased by 10,000 to a seasonally adjusted 281,000 in the week ended June 27, above the 270,000 expected. The greenback fell across the board as downbeat employment data weighed on expectations the Fed could begin raising rates later this year. GBP/USD rose to a high of 1.5636 before quickly pulling back to mid-range levels. At time of writing, Cable is trading at 1.5608, virtually unchanged on the day. July 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

OctaFX.com-OctaFX is glad to support Southampton FC competing in English Premier League! "We are proud to be involved in this partnership, and we hope we can invest in Southampton’s success and be a part of new improvements.” Follow our sponsorship page and social media to learn the latest news of partnership activation and stay tuned to enter our Southampton Club promotions first! OctaFX – Potential into excellence on a trading level Stand out for outstanding with OctaFX! Please stay tuned for the news and updates from OctaFX! Wishing you luck and profitable trading, yours truly, OctaFX! OctaFX-Most Reliable Forex broker 2014 by FX Empire!

OctaFX.com-OctaFX is delighted to support Southampton FC competing in English Premier League! We are delighted to announce the official partnership with Southampton FC – promising and talented EPL Football Club. OctaFX is proud to support Southampton FC, nicknamed “The Saints”, and the sport our clients have passion for. “We consider SH FC as one of the most successful, aspiring and resourceful clubs in English Premier League. The club showed good results in the past season and we hope to help Saints fulfill their potential in all fields, both at home and overseas – in the coming Premier League season and while competing in Europa League. We are proud to be involved in this partnership, and we hope we can invest in Southampton’s success and be a part of new improvements.” Daniel Harris Director, OctaFX UK Limited Southampton FC Chief Executive Officer Gareth Rogers commented: “We are delighted to be partnering with OctaFX, an award-winning and FCA-registered Forex broker. While both ourselves and OctaFX are based in the UK, we are growing rapidly on a global scale. Our shared values around hard work, dedication and aspiration stand us in excellent stead for a successful partnership”. Being the Club’s Official Forex partner we emphasis the importance of nurturing the talent and growing something small into something big, never stopping in the face of adversity. We believe that the collaboration with the football club will motivate and inspire our clients to accomplish their aims. Follow our sponsorship page and social media to learn the latest news of partnership activation and stay tuned to enter our Southampton Club promotions first! OctaFX – Potential into excellence on a trading level Stand out for outstanding with OctaFX! Please stay tuned for the news and updates from OctaFX! Wishing you luck and profitable trading, yours truly, OctaFX! OctaFX-Most Reliable Forex broker 2014 by FX Empire!

EUR/USD flirts with 1.11 handle amid Greek-led exhaustion FXStreet (Mumbai) - The EUR/USD pair is hovering close to 1.11 handle, threatening to fall below the same as proposals and counter proposals continue to fly back and forth between Greece and its international creditors. EUR ditched as investors await definite news regarding Greece The shared currency found some love in the European session on reports that Greek PM Tsipras is ready to accept all conditions put forward by the international creditors. However, the optimism quickly faded after German Chancellor reiterated that talks before the July 5 referendum are out of the equation. Moreover, the markets are exhausted with the repeated pattern of fresh proposals followed by outright rejections by each party to the deal. Consequently, the EUR/USD pair fell back to 1.11 levels. The investors now await fresh and a definite news regarding the Greek crisis. EUR/USD Technical Levels The pair currently trades at 1.1104. The immediate support is seen at 1.1082, under which the pair could target 1.1050 (Mar 26 low). On the flip side, a break above 1.1130 could push the pair higher to 1.1188 (50-DMA). July 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

Referendum will go ahead – Greek government official FXStreet (Mumbai) - As per Reuters reports, a Greek government official said that Greece will go ahead with the July 5 referendum and said the negotiations will continue after the vote. Earlier today, the FT reported that Greek PM is willing to accept all the demands put forward by the creditors, which triggered speculation that a referendum may not be held. Meanwhile, Germany’s Schaeuble said that he has not even read the latest proposal from Greece, while stating that there is no scope for talks before the referendum. July 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

DAX jumps over 2% on Tsipras bailout FXStreet (Mumbai) - Germany’s benchmark index, the DAX bounced-back sharply, snapping previous declines and rallied higher tracking other European indices following media reports that Greece is ready to accept bailout conditions, although with certain changes. Currently, the DAX 30 trades nearly 2.22% higher at 11188.30 levels, swinging back higher above 11k marker. The German stocks halted its two-day decline and rebounded higher as euro zone officials are set to discuss Greece once again, with Athens reportedly stating it will accept its creditors' bailout conditions proposed last weekend. The index trades with a clear positive market breadth with all stocks on the winning end. Volkswagen AG leads the index, up 2.90% followed by Daimler AG, gaining 2.80%. Deutsche bank is also recording a 2.73% gain on the day. DAX Technical Levels The index has an immediate resistance at 11299.61. Meanwhile, support is seen at 11000 levels and 10806 levels. July 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

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DXY pushes higher around 95.50 FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, has recovered from the dip to sub-95.00 levels and is now printing session tops in the 95.50/55 band. DXY firmer as bid tone re-emerges The dollar has managed to recover the initial bid tone after dropping to session lows near 94.80, helped by month/quarter-end flows and the still confusion scenario in Greece ahead of the decisive referendum on Sunday. Data wise in the US economy, the S&P/Case-Shiller index and the Chicago PMI both missed expectations today, while Consumer Confidence surpassed the median for the current month. DXY relevant levels As of writing the index is advancing 0.69% at 95.44 and a break above 96.39 (high Jun. 29) would open the door to 96.54 (high Jun.8) and finally 96.91 (high Jun.5). On the flip side, the immediate support aligns at 94.30 (low Jun.23) ahead of 93.81 (low Jun.22) and then 93.57 (low Jun.18). June 30,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

Buy the dips in USD/BRL – BAML FXStreet (Edinburgh) - Analysts at BAML have recommended buying the dips in the pair following the government’s preference for a weaker BRL. Key Quotes “The new Brazil policy framework involves tighter monetary and fiscal policy, and a weaker exchange rate induced by less central bank intervention”. “Since the new economic team led by Finance Minister Joaquim Levy was announced last year, the central bank has increased its benchmark rate by 275bp to 13.75% and a primary fiscal surplus target of 1.1% of GDP has been set for 2015”. “Both represent a significant tightening of policy. The central bank is expected to keep hiking rates – by 85bp according to the futures market and by 50bp in our baseline scenario – and even if the primary surplus ends up at 0.8%, as consensus expects, it would still represent more than a 1pp fiscal adjustment versus the 0.6% primary deficit in 2014”. “The economic team is cushioning the recessionary effects of tighter policy by letting the exchange rate adjust more rapidly and freely to its equilibrium level by reducing its intervention in currency markets. Based on Compass, we estimate the equilibrium level is 3.35”. “We recommend fading BRL rallies below 3.05 given the government’s revealed preference for a weaker exchange rate. We find currency forwards to be a better alternative to FX options despite the recent decline in implied volatilities”. June 30,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

Greece has requested delay of IMF repayment FXStreet (Córdoba) - According to German paper Bild, Greece has submitted a delay application of € 1.6 billion repayment to the IMF due at midnight. Report also states Greece still intends to repay the IMF. June 30,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

Tsipras urges Greek public to vote 'NO' to creditors terms - Rabobank FXStreet (Guatemala) - Analysts at Rabobank noted Tsipras recent plea to the Greek public. Key Quotes: "In a television address PM Tsipras has told the Greek people that “they will not throw us out of the Eurozone...because the cost is immense”. An estimated 12,000 people gathered outside Athen’s Syntagma Square to support their leader in his bid to persuade the Greek people to vote ‘no’ to an acceptance of the creditors terms in Sunday’s referendum." "Tsipras is taking the view that a ‘no’ vote would strengthen Greece’s negotiating position. Meanwhile some European officials are indicating that this referendum may be seen as a straight choice between Greek choosing to remain in or out of the Eurozone." June 30,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!

EUR/CHF rises to 1.0450, above last week close FXStreet (Córdoba) - EUR/CHF rose back above 1.0400 and climbed to 1.0451 reaching a fresh daily high amid a weak Swiss franc. The pair remains near the highs. EUR and Greece Greek officials put forward a new proposal to its creditors for a new bailout program for 2 years, with funds used to debt payments. According to reports Angela Merkel said that they will not negotiate anything new before the Greek referendum. The euro was unaffected by the latest reports while the Swissy is among the worst performers in the currency market during the American session. EUR/CHF levels to watch The recent rally was capped by 1.0450, above the next resistance could be located at 1.0480 followed by 1.0500. On the opposite direction support might lie at 1.0370, 1.0310 and 1.0280. June 30,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker!