OctaFX_Farid

Varoufakis arrives (late) at Eurogroup meeting to discuss Greece FXStreet (London) - Greek Finance Minister Yanis Varoufakis has now arrived at the Eurogroup meeting in Brussels, arriving late for the 2:30 GMT start. The discussions focussed on Greece’s continuing membership of the Eurozone and the newly-formed Greek government’s demands for significant haircuts on their existing debts as well as the pressing need for short-term credit service payments are set to commence at 4:30 GMT. Writing in a New York Times op-ed this morning, Varoufakis said that: “As finance minister of a small, fiscally stressed nation lacking its own central bank and seen by many of our partners as a problem debtor,” adding: “I am convinced that we have one option only: to shun any temptation to treat this pivotal moment as an experiment in strategizing and, instead, to present honestly the facts concerning Greece’s social economy, table our proposals for regrowing Greece, explain why these are in Europe’s interest, and reveal the red lines beyond which logic and duty prevent us from going.” OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 16,2015 OctaFX.Com News Updates

Gold struggles for direction FXStreet (Mumbai) - Gold prices waver in a narrow range of USD 1234-1228 as investors avoid making big bets ahead of the Eurogroup meeting and amid lack of fresh cues from the US markets. Rejected at 10-DMA The metal failed to extend gains beyond the 10-DMA located at USD 1234 despite the uncertainty surrounding the Greek debt deal. The Eurogroup is widely expected to provide a short-term fix to the debt issue, although meaningful moves in Gold may not be seen unless the group confirms a concrete debt deal today. The likelihood of a permanent fix is very low and an extension could be the most likely outcome. Furthermore, gold prices also lack fresh cues from the US Treasury markets, which remain closed on account of a trading holiday. Gold Technical Levels The metal currently trades at USD 1230.50/Oz; up 0.28% for the day. The immediate resistance is seen at 1236 (50-DMA), above which gains could be extended to 1243 (200-DMA). On the flip side, support is seen at 1227.30 (5-DMA) and 1216.6 levels. OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 16,2015 OctaFX.Com News Updates

EUR/USD back around 1.1400 FXStreet (Edinburgh) - The European currency is clinging to the positive ground vs. the US dollar on Monday, with EUR/USD now returning to the 1.1400 neighbourhood. EUR/USD near 1.1400, Eurogroup looms Spot remains in a sideline pattern ahead of the key second meeting between the Greek finmin Y.Varoufakis and the Eurogroup officials. Despite opinions remain pretty divided in regard of the probable outcome, market participants do agree that another meeting could be necessary later this month. Ahead in the week, the FOMC minutes on Wednesday and the ECB ‘accounts’ (its version of the minutes) will set the pace in the pair. EUR/USD levels to consider At the moment the pair is up 0.05% at 1.1405 facing the next up barrier at 1.1443 (high Feb.13) ahead of 1.1485 (Kijun Sen) and finally 1.1499 (high Feb.5). On the downside, a drop beyond 1.1380 (low Feb.16) would open the door to 1.1367 (200-h MA) and then 1.1303 (low Feb.12). OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 16,2015 OctaFX.Com News Updates

GBP/JPY is threatening to break below 182.00 FXStreet (Mumbai) - The GBP/JPY pair is threatening to fall below 182.00 levels, as it hovers around 182.10 levels after having hit a low of 182.03 few minutes back. Pound hit by weak inflation expectation The British Pound has weakened a day ahead of the data in the UK, which is likely to show inflation in January fell below zero level. The month-on-month CPI in January is seen at -0.8%, down from the previous month’s print of 0.0%. Meanwhile, year-on-year the CPI is seen slowing down to 0.4% from the previous month’s 0.5%. The Bank of England, in its Quarterly Inflation Report, released last week did express a high possibility of inflation falling below zero levels in the short-term. Consequently, the GBP is being sold amid weak inflation expectations and the absence of fresh fundamental triggers today. On the other hand, the Japanese Yen is moderately up on caution ahead of the Eurogroup meeting. GBP/JPY Technical Levels The immediate resistance is seen at 182.31 (5-DMA), above which the pair could re-test 182.50 levels. On the flip side, support is seen at 182.00, under which losses could be extended to 181.78 levels. OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 16,2015 OctaFX.Com News Updates

EUR/GBP extends gains FXStreet (Mumbai) - The EUR/GBP pair extended gains to hit a fresh session high of 0.7425 as the British Pound continues to weaken in anticipation of negative inflation data due for release tomorrow. Gains capped by Greek debt issue The shared currency managed to strengthen against the British Pound as market price-in an expected fall of 0.8% in UK CPI in January. The data is due for release tomorrow and may show cost of living fell below zero levels in January. Meanwhile, a sharp rise in the Eurozone trade surplus also helped the shared currency strengthen. However, broader gains have been capped due to uncertainty surrounding the Greek debt issue. The markets expect the Eurogroup to reach a short-term fix, however, caution still persist, which has capped gains in the pair. EUR/GBP Technical Levels The pair currently trades at 0.7415. The immediate resistance is seen at 0.7425 and 0.7446 levels. On the flip side, a break below 0.7411 could push the pair down to 0.7390 levels. OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 16,2015 OctaFX.Com News Updates

ECB minutes this week, an important step in transparency – BBH FXStreet (Barcelona) - The Brown Brothers Harriman Team comments that with a number of central banks scheduled to release its policy meeting minutes, the ECB minutes will likely be the most interesting and also an important step in the transparency, further adding that ECB’s review of ELA authorization to Greece this week will also remain in focus. Key Quotes “The most interesting central bank meeting report will come from the ECB. Until now the ECB has been reluctant to provide some record of its policy making discussions. This is expected to change this week. Neither the content nor format is understood yet, except that individual names will not be cited.” “It was at the January meeting that the ECB decided to expand its asset purchase program from about 10 bln euros a month to 60 bln, which will include sovereign bonds.” “While recognizing this is an important step in the transparency of the ECB, it is also a new channel of communication. Since the record can only be a partial summary of what happened, the ECB, like other central banks, will reveal what it wants.” “The ECB is also expected to review its ELA authorization to Greece. Some claim the ECB's decision to no longer accept Greek government bonds as collateral was aimed not so much at Greece as to force both sides together. However, it took place immediately following Draghi's meeting with Greece's new finance minister and not after Draghi's discussions with Berlin." “Surely the two sides would have been engaged in tough negotiations even if the ECB continued to accept Greek bonds.” OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 16,2015 OctaFX.Com News Updates

OctaFX.com-OctaFX cTrader demo contest – one week, 5 prizes, ultimate competition! The main aim of the competition remains the same while environment changes: trade your cTrader demo account and end the week in highest profit to receive the prize from OctaFX. The contest round lasts one week – from Monday Market opening to Friday Market closing! Prize fund of $400 is distributed between five lucky traders. Prize fund of $400 is distributed between five lucky traders: Contest rules and regulations View round standings Take part now! 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!

WTI Crude rises ahead of the Baker Hugs rig count data in the US FXStreet (Mumbai) - Crude prices may end higher today, thereby posting a third consecutive weekly gain. Prices bottomed out at USD 43.56/barrel in the last week of January. Hits a session high above USD 53.20/barrel ahead of Rig count data Crude prices extended gains in the US session to hit a high of USD 53.20/barrel ahead of the Baker Hughes Rig count figure due for release today. Crude could extend gains to trade well over the current week’s high of USD 53.93 if the Baker Hughs data points to a further fall in rig counts in the US. Moreover, prices bottomed out at USD 43.46 three-weeks back after falling rig count in the US triggered hopes that concerns of supply glut would be erased. Prices could gain on similar hopes if the data highlights further decline in rig count today. WTI Crude Technical Levels March futures currently trade at USD 52.89/barrel, up 3.28% for the day. The immediate resistance is seen at the daily high of 53.20, above which gains could be extended to weekly high of 53.93. On the flip side, a break below the immediate support at 52.53 (Feb. 4th high), could push the prices down to the 5-DMA and the 10-DMA located at 51.28 levels. OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 13,2015 OctaFX.Com News Updates

USD/JPY back below 119.00 ahead of the consumer confidence data in the US FXStreet (Mumbai) - The USD/JPY pair is back below 119.00 levels ahead of the February’s University of Michigan gauge of US consumer confidence, which is expected to inch slightly higher to 98.3 from the 11-year high of 98.1 seen in the previous month. Technical failure at Fib levels The pair has dipped to trade at 118.89 levels after being rejected at the 38.2% retracement level of the uptrend from 117.16 to 120.46 located at 119.20. This was the second failure around the same level since the previous session. Moreover, the pair lacked support from the 10-year Treasury yields which appear stuck at 2.005 levels. The pair may extend the drop to the daily low of 118.40 in case the University of Michigan data highlights a sharp drop in the consumer confidence in February. USD/JPY Technical Levels The immediate support is seen at 118.81, under which the pair could re-test the daily low of 118.40. On the flip side, a break above 119.20 could push the pair higher to 119.68 levels. OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 13,2015 OctaFX.Com News Updates

USD/JPY back below 119.00 ahead of the consumer confidence data in the US FXStreet (Mumbai) - The USD/JPY pair is back below 119.00 levels ahead of the February’s University of Michigan gauge of US consumer confidence, which is expected to inch slightly higher to 98.3 from the 11-year high of 98.1 seen in the previous month. Technical failure at Fib levels The pair has dipped to trade at 118.89 levels after being rejected at the 38.2% retracement level of the uptrend from 117.16 to 120.46 located at 119.20. This was the second failure around the same level since the previous session. Moreover, the pair lacked support from the 10-year Treasury yields which appear stuck at 2.005 levels. The pair may extend the drop to the daily low of 118.40 in case the University of Michigan data highlights a sharp drop in the consumer confidence in February. USD/JPY Technical Levels The immediate support is seen at 118.81, under which the pair could re-test the daily low of 118.40. On the flip side, a break above 119.20 could push the pair higher to 119.68 levels. OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 13,2015 OctaFX.Com News Updates

EUR/JPY muted post EMU data FXStreet (Mumbai) - EUR/JPY little changed during the mid-European session, after EMU Q4 2014 GDP figures showed that the Euro zone economy accelerated during the final quarter of 2014, outpacing estimates. Hovers below 136 levels Currently, the EUR/JPY pair traded flat at 135.88 levels, striving for 136 levels. The EUR/JPY traded muted, with no reaction to the upbeat EZ data which showed that the 19-nation bloc’s grew by 0.3% in Q4 2014, following the 0.2% uptick in Q3, beating expectations for a 0.2% expansion. On yearly basis, the bloc's GDP expanded 0.9%, after a 0.8% growth in previous quarter. The reading also managed to outpace forecast of an unchanged figure. The pair remains stuck below 136 levels as both the EUR and JPY is gaining equally against the USD on a broad based greenback weakness. Meanwhile, traders now focus on the crucial US macro data due later today for fresh cues on the cross. EUR/JPY Levels to consider To the upside, the next resistance is located at 136.30 and above which it could extend gains to at 136.70 levels. To the downside immediate support might be located at 135 levels below that at 134.77 levels. OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 13,2015 OctaFX.Com News Updates

Eurozone GDP slightly stronger than expected in fourth quarter 2014 FXStreet (London) - Seasonally adjusted GDP rose by 0.3 percent in the Eurozone and by 0.4 percent in the EU during the fourth quarter of 2014, compared with the previous quarter, according to flash estimates published by Eurostat, the statistical office of the European Union. The growth was slightly stronger than expected, with consensus expectations of a 0.2 percent growth in the fourth quarter. In the third quarter of 2014, GDP grew by 0.2 percent in the Eurozone and by 0.3 percent in the EU. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 0.9 percent in the Eurozone and by 1.3 percent in the EU in the fourth quarter of 2014, after +0.8 percent and +1.3 percent respectively in the previous quarter. During the fourth quarter of 2014, GDP in the United States increased by 0.7 percent compared with the previous quarter (after +1.2 percent in the third quarter of 2014). Compared with the same quarter of the previous year, GDP grew by 2.5 percent (after +2.7 percent in the previous quarter). Over the whole year 2014 , GDP rose by 0.9 percent in the Eurozone and by 1.4 percent in the EU. OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 13,2015 OctaFX.Com News Updates

EUR/GBP hovers close to fresh highs, Euro zone data eyed FXStreet (Mumbai) - EUR/GBP bounces off seven year lows and inched higher during the European session, as traders digested surprisingly good German GDP and a ceasefire agreement in Ukraine. EUR/GBP rises from 0.7413 levels The EUR/GBP pair trades higher by 0.24% at 0.7430 levels, having posted session highs at 0.7434 levels an hour ago. EUR/GBP rose to fresh session highs, in a delayed reaction to the stellar German growth number confirming that the Euro zone’s economic powerhouse is well away from recessionary phase. On the other side, pound remained flat against the US dollar as BOE Inflation report-backed gains reversed as traders now eyed US macro data. At the moment, EUR/USD held 0.25% higher at 1.1432 levels, while GBP/USD traded flat at 1.5387 levels. EUR/GBP Levels to consider To the upside, the next resistance is located at 0.7460 and above which it could extend gains to at 0.7499 levels. To the downside immediate support might be located at 0.7400 and below that at 0.7383 levels. OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 13,2015 OctaFX.Com News Updates

China FX policy survey: No band widening expected in next 3m – Nomura FXStreet (Barcelona) - Research Analysts at Nomura, share the results of their China FX policy survey, and further note their forecast for the USD/CNH trading band, and policy rates. Key Quotes “On the USD/RMB forecasts and positioning, the largest proportion of survey participants expect the USD/CNY fixing to be 0.5% higher (than the 6.1311 on 9 February) in the next three months, while most see the USD/CNH deviation from its fixing at +2.0% over the same period.” “Our view is not much different from this result and we see some value in the forward curves with USD/CNY 3M NDF at 6.2050 and USD/CNH 3M forward at 6.3142 (as of 1930 SGT).” “In addition, survey participants expecting a band widening forecast USD/CNH to be trading at +2.2% (on average) above the fix in three months.” “On positioning (-5 to +5, +ve implies long USDs), the largest proportion of survey participants expect the market to be long USD/CNY NDF (at +2, based on +/- 5 scale, where positive implies long USDs) and long USD/CNH with a high concentration of participants in the +1 and +2 bucket for USD/CNH.” “Lastly, on stimulus, most participants expected a 25bp benchmark rate cut and 50bp RRR cut in the next three months.” “Almost all survey participants believe there will be further liquidity injections and lending facilities in the next three months.” “Nomura Economics forecasts a 25bp rate cut and 50bp RRR cut in Q2 2015.” OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 13,2015 OctaFX.Com News Updates

GBP/USD retreats from fresh 6-week highs, back below 1.5400 FXStreet (Mumbai) - GBP/USD erased previous gains and edged below 1.5400 levels during the European session largely on US dollar weaknesses following tepid macro data. GBP/USD declines from 1.5408 levels The GBP/USD pair trades flat at 1.5385 levels, retreating from fresh six-week highs posted at 1.5419 levels earlier in the day. GBP/USD remained little changed as traders moved past Bank of England's (BoE) inflation report induced gains and now turned their attention towards another set of US data due later today for fresh directions on the pair. Moreover, generalized weakness in the US dollar also failed to lift the GBP/USD pair. GBP/USD Levels to consider The pair has an immediate resistance at 1.5420 above which gains could be extended to 1.5500 levels. On the flip side, support is seen at 1.5354 below which it could extend losses to sub 1.5300 levels. OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 13,2015 OctaFX.Com News Updates

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ECB increases limit of emergency loans to Greek banks FXStreet (Córdoba) - The European Central Bank decided to increase the amount of emergency liquidity assistance (ELA) that can be provided to Greek banks, according to media reports. The ECB authorized the ELA as a temporary expedient when it stopped accepting Greek bonds as collateral for funding last week. Following a teleconference, the Governing Council decided Thursday to boost the amount that Greek banks can access by €5 billion, taking it to €65 billion from €60 billion. The ECB decided earlier this month not to longer accept junk-rated Greek government debt as collateral for funding loans, but said the banks could continue to tap funding via ELA, which is administered by the Greek central bank. On Wednesday, Eurozone finance ministers failed to agree on a joint statement about Greece’s debt situation as pressure increases on the Hellenic country to take an extension of the current bailout program which ends on Feb 28. On the other hand, Greek PM Tsipras rejects any extension of the €240 billion package and to cooperate with the troika as he demands a debt "haircut". OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 12,2015 OctaFX.Com News Updates

EUR/USD hits 1.1400 amid Greek headlines FXStreet (Córdoba) - EUR/USD jumped to 1.1400 and scored a fresh 6-day high at the beginning of the New York session as the euro benefitted from a report suggesting Greece is getting an extension of the emergency liquidity assistance (ELA), which the ECB authorized as a temporary expedient when it stopped accepting Greek bonds as collateral for funding last week. EUR/USD peaked at 1.1400, also supported by a weaker USD following a retail sales miss, but lacked follow-through to break above the psychological level and pulled back. At time of writing, EUR/USD is trading at 1.1370, still up 0.35% on the day. OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 12,2015 OctaFX.Com News Updates

Pragmatic BOE postures next move in rates is up – ANZ FXStreet (Barcelona) - Brian Martin of ANZ, comments on the inflation and easing expectations for UK whilst reviewing the BOE’s inflation report. Key Quotes “The Bank of England (BoE) expects inflation to fall further, possibly into negative territory in coming months and hover around zero for much of this year, but the central bank is looking through this volatility: “… as unusual as that is, it arguably isn’t the main story. The headlines today mask stronger underlying dynamics which will determine UK output and inflation tomorrow”.” “..whilst the tone of the report was more upbeat than the market had anticipated, it did contain the usual caveats and the BoE is in no rush to raise interest rates.” “The risks to the forecasts remain balanced and the inflation target is symmetric. The BoE cares as much about inflation below target as above target.” ““With inflation below target and unemployment above its long-run sustainable rate, there is no immediate trade-off between returning inflation to target and supporting economic activity. In fact, to return inflation to target it is necessary to eliminate the remaining degree of economic slack,” Carney said before qualifying during the press conference that returning inflation to target would probably require a gentle and gradual rise in interest rates” “Acknowledging the pragmatic nature of monetary policy, Carney did state that the BoE is vigilant to the risks that disappointing global growth and evidence that persistently low inflation could negatively impact on inflation expectations. Were those risks to materialise, it could require additional stimulus.” “The BoE can therefore respond in either direction, but the inflation report states that “under the central case, the MPC judges it more likely than not that Bank Rate will increase over the forecast period”.” OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 12,2015 OctaFX.Com News Updates

OctaFX.com-OctaFX Supercharged real contest – greet Round 3 winner from Indonesia! OctaFX congratulates the third monthly winner of the Supercharged real contest! Welcome Master of USD/JPY pair, the holder of Overachiever, Profitmaker and Acquirer achievements – Jusliandar Leopardi from Indonesia! Here’s Mr. Leopardi’s opinion on Supercharged contest: This is the best trading contest! I know it by comparing it to other contests held by different brokers. And winning Tesla is a dream of each Supercharged participant! I must admit that I am spending a lot of time trading in the contest because it is interesting! I’m no better than the others, my secret is perseverance and maybe a little luck! I think there is nothing spectacular in what I did. In the process of becoming this good at trading, I sometimes lost my investments, but it helped me gain experience, so I think it’s reasonable. My advice is – continue to learn to be better, no human being is perfect. As traders, we must establish a technique that proved to be efficient, not to try a variety of techniques. Mr. Leopardi is awarded with brand-new iPhone 6 and we invite you to join him in the competition to win 10 top-notch prizes including Tesla Model S, Smart Fortwo and Renault Twizy! Are you Supercharged? Enter the competition here! Stand out for outstanding with OctaFX! Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today! Please stay tuned for the news and updates from OctaFX! Wishing you luck and profitable trading, yours truly, OctaFX!

BoE could hike rates by year-end – Investec FXStreet (Edinburgh) - The start of the hiking cycle in the UK could start as soon as Q4 2015, according to D.Theodosiou at Investec. Key Quotes “Although subject to varied interpretation, interest rate markets point to the first interest rate hike in the UK being priced in for Q2 2016, with a second priced in Q4 2016”. “Part of this expectation has likely been skewed by ‘safe haven’ flows, with many countries charging negative yields on deposits and investors looking for safe places to invest, particularly in light of recent Greek events”. “Therefore, if the MPC continue to hold the line that medium term inflation goals remain on target, the market could find itself scrambling to adjust expectations more in-line with the Investec Economics team, that are currently looking for a November 2015 first rate rise”. “This would certainly help Sterling trade stronger across the board with investors factoring in higher future yield for holding Pounds. The only question is, if investors sell Gilts (UK Bonds) to price in an earlier rate rise in the UK, then where do they invest instead?”. OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 11,2015 OctaFX.Com News Updates

Gold falls below USD 1230/Oz FXStreet (Mumbai) - Gold prices extended the decline to trade well below USD 1230/Oz levels, after hovering around the 50-DMA located at USD 1234 levels in the last couple of hours. Gold prices weighed down by USD strength The latest bout of weakness may have been triggered largely due to an across the board strength seen in the US dollar. The USD index is up 0.31% at 95.16 levels. Meanwhile, the repeated struggle to rise above 50-DMA at USD 1234 could have triggered a technical sell-off as well. Moreover, Gold and other safe haven assets like the Japanese Yen and the US Treasuries have failed to gain despite the Greek led uncertainty in the markets and concerns of escalating tension in Ukraine. The metal may extend losses even further if the US equity markets manage to recover losses later in the day. Gold Technical Levels At the moment, the metal trades 0.59% lower at USD 1224.90/Oz levels. The immediate support is seen at 1223.2, under which a major support is seen at 1207.5 levels. On the flip side, resistance is seen at the 50-DMA located at 1234 and at the 200-DMA located at 1244 levels. OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 11,2015 OctaFX.Com News Updates

USD/CAD rises to session highs FXStreet (Mumbai) - The slide in crude prices pushed the Canadian dollar lower, taking the USD/CAD pair to the session high of 1.2645 levels. Loonie weakens as Crude extends losses Crude prices in the US fell to a low of USD YSD 49.13/barrel ahead of the weekly supply report in the US, which is expected to show inventories rose by 3.8 million barrels last week. Consequently, the USD/CAD pair rose to a high of 1.2645. Moreover, the rally in the Canadian dollar stalled as crude prices resumed the fall on fears of rising supply glut and a slowdown in China. Meanwhile, a strong US jobs data and the subsequent rise in the US Treasury yields further added to the bullish momentum in the USD/CAD pair. USD/CAD Technical Levels The pair currently trades 0.44% higher at 1.2642 levels. The immediate resistance is seen on the 4-hour chart at 1.2675 levels, above which the pair could rise to 1.2771 levels. On the flip side, support is seen on the 4-hour chart at 1.2589 and 1.2539 (hourly 200-SMA) levels. OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 11,2015 OctaFX.Com News Updates

Oil the major driver for CAD’s weakness – Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, notes that CAD is weak with a stronger USD, weaker oil prices & a dovish BoC, the risk is ongoing depreciation but oil remains the core driver. Key Quotes “USDCAD is higher, flirting with a break above its seven-session range of 1.2352 to 1.2644.” “The shift higher has come from falling oil prices, a broadly stronger USD and yesterday’s dovish tone from the BoC’s Wilkins. There are no fundamental releases today.” “the economic outlook from the perspective of the BoC is one that likely justifies further interest rate cuts. The market is pricing in a 50% chance of a cut at the March 4th meeting.” “As oil comes under renewed pressure we would expect both the expectations for interest rate cuts in Canada to increase and CAD to weaken.” OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 11,2015 OctaFX.Com News Updates

Comex copper erases gains FXStreet (Mumbai) - Comex Copper has erased part of its gains as investors turn cautious ahead of the Greece’s finance minister Yanis Varoufakis meeting with other finance ministers of the euro zone to discuss a solution to Greece's bailout program. Trades below 5-DMA and 10-DMA Copper prices faced rejection at the 5-DMA and the 10-DMA located at USD 2.571 and USD 2.559 respectively. The red metal declined from the session high of USD 2.583 as markets do not expect any long term solution to the Greece’s debt problems from the Eurogroup’s meeting today. However, a short-term fix is likely, which means the Greece-related uncertainty is here to stay for a while. Meanwhile, the metal remains supported on the expectation of fresh stimulus measures from China, especially after the inflation printed at the lowest level since November 2009. Comex Copper Technical Levels The metal currently trades at USD 2.552/pound. The immediate resistance is seen at 2.571 (5-DMA), above which gains could be extended to 2.619 (Feb. 4th high). Meanwhile, support is seen at 2.526 and 2.489 levels. OctaFX is nominated for the Best Broker and Most Reliable Broker titles in the year 2014. Vote for OctaFX in the 2014 FX Empire Awards! OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 11,2015 OctaFX.Com News Updates