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Chile Consumer Price Index (Inflation) (MoM): 0% (November) vs previous 1% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 06, 2014 OctaFX.Com News Updates

Chile Core Consumer Price Index (Inflation) (MoM) fell from previous 0.7% to 0.3% in November Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 06, 2014 OctaFX.Com News Updates

WTI Crude at day’s low FXStreet (Mumbai) - Crude oil prices in the US remain weak despite a strong monthly jobs report in the US as sentiment soured after Saudi Arabia offered biggest discount on record to its oil customers across Asia. WTI Crude for January delivery traded 1.39% lower at USD 65.85/barrel at the time of writing. Moreover, Crude prices hardly reacted to a stellar jobs report in the US as markets priced-in a sort of double whammy from the Saudis. Moreover, markets which were recovering from the Organization of Petroleum Exporting (OPEC) group’s decision to hold production levels unchanged, were caught off-guard after the Saudis state run oil company decided to extend its discount for Arab Light sales to Asia next month to USD 2/barrel below a regional benchmark. Meanwhile, the inventory data released in the US yesterday also hurt prices. The Energy Information Administration (EIA) released yesterday showed oil production expanded to 9.08 million barrels a day through Nov. 28, the fastest rate in weekly records that started in January 1983. WTI Crude Technical Levels Crude has an immediate support located at 65.41, under which prices can fall to 64.31 levels. Meanwhile, resistance is seen at 66.71 and 67.77 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 05, 2014 OctaFX.Com News Updates

US equities likely to applaud the labor market strength FXStreet (Mumbai) - The activity in the US index futures indicates the Wall Street is likely to open on a positive note after the monthly Non-farm payrolls data printed way higher than the market expectation. At the time of writing, the DJIA futures are trading 0.15% higher, while the S&P futures are up 0.02%. The NASDAQ futures have gained 0.11%, while the S&P VIX futures have weakened by 1.79%. The labor department data released earlier today showed the economy added whooping 321K jobs in November, beating market expectations of 230K additions. Meanwhile, the unemployment rate remained steady at 5.8%. Post open, the Commerce Department is also due to release a report on factory orders in the month of October. However, the report is not likely to attract much attention amid the focus on the jobs data. It will be interesting to see how the stock markets react throughout the day today, since the stellar jobs data is likely to push up expectations of a sooner-than-expected interest rate hike in the US, something which stock markets usually do not like. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 05, 2014 OctaFX.Com News Updates

AUD/USD plummets after US employment report to fresh 4-year low FXStreet (Córdoba) - AUD/USD dropped from 0.8365 to 0.8319 in a few minutes on the back of an upbeat US jobs report that boosted greenback across the board. According to the US Labor Department, the economy added 321.000 jobs in November, above the 230.000 expected by market consensus while the unemployment rate remained at 5.8% as expected. During the last few minutes the pair moved slightly off session lows and was trading at 0.8330/35, headed toward the fourth daily decline in a row and the lowest close since June 2010. Despite falling against the US dollar, the aussie managed to rise versus the yen after NFP. AUD/JPY was trading slightly above 101.00 at the highest in three days. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 05, 2014 OctaFX.Com News Updates

Non-farm payrolls: up 321k, US labour markets surge, job gains widespread. FXStreet (London) - Data released by the Bureau of Labor Statistics showed a huge jump in US job numbers. Total nonfarm payroll employment increased by 321,000 in November, and the unemployment rate was unchanged at 5.8 percent. Job gains were widespread, led by growth in professional and business services, retail trade, health care, and manufacturing. The increase compares with an average monthly gain of 224,000 over the prior 12 months. Today’s print marks the tenth straight month of 200k+ gains, the longest run since 1995. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 05, 2014 OctaFX.Com News Updates

USD/CAD in fresh 2014 highs FXStreet (Edinburgh) - The US dollar is now accelerating its appreciation vs. the CAD, pushing USD/CAD to print fresh multi-year tops. USD/CAD lifted by NFP Spot is intensifying its upside momentum following the upbeat results from the US Payrolls during November, coming in at 321K vs. 232K forecasted; the unemployment rate remained at 5.8%, broadly in line with market consensus. Data releases from the Canadian docket showed the Net Change in Employment decreased by 10.7K vs. 5.0K previously estimated and the jobless rate at 6.6% from October’s 6.5%. USD/CAD levels to watch At the moment the pair is up 0.40% at 1.1424 with the next resistance at 1.1459 (high Dec.1) ahead of 1.1466 (2014 high Nov.5) and finally 1.1500 (psychological level). On the downside, a break below 1.1341 (low Dec.4) would target 1.1319 (low Dec.2) and then 1.1316 (Kijun Sen). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 05, 2014 OctaFX.Com News Updates

Massive NFP number - up 321k FXStreet (London) - The US non-farm payrolls just printed a massive number, adding 321K new jobs in November, a huge leap on expectations of a 230k print. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 05, 2014 OctaFX.Com News Updates

Canada Unemployment Rate in line with forecasts (6.6%) in November Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 05, 2014 OctaFX.Com News Updates

EUR/USD testing fresh lows post-Payrolls FXStreet (Edinburgh) - The offered tone is now picking up pace around the single currency, sending EUR/USD to fresh intraday lows below the 1.2300 handle. EUR/USD hurt by upbeat Non farm Payrolls The pair has seen its demand depressed further after the US economy added 321K jobs during November, surpassing estimates at 232K and up from October’s 243K (revised from 214K). More data showed the jobless rate stayed put at 5.8%, matching previous surveys. Still in the US economy, the trade deficit came in at $43.40 billion during October vs. 43.6 billion in the previous month. Next of note will be Factory Orders (0.1% exp. in October), the speech by Fed’s S.Fischer and the Consumer Credit Change ($16.48 billion exp.) EUR/USD levels to watch At the moment the pair is retreating 0.03% at 1.2377 with the next support at 1.2280 (2014 low Dec.4) ahead of 1.2256 (low Aug.16 2012) and finally 1.2242 (low Aug.10 2012). On the upside, a breakout of 1.2426 (10-d MA) would expose 1.2453 (21-d MA) and then 1.2476 (high Dec.2). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 05, 2014 OctaFX.Com News Updates

GBP/USD calm ahead of key US job numbers – MP FXStreet (Barcelona) - Kenny Fisher, Currency Analyst at MarketPulse, notes that GBP/USD is calm ahead of the US job numbers, trading slightly below 1.57 levels. Key Quotes “GBP/USD lost ground in Asian trade, testing support at 1.5624. The pair reversed directions late in the Asian session and has erased the earlier losses, as it continues to post gains in European trade.” “1.5717 is a weak resistance line. 1.5864 is stronger.” “On the downside, 1.5644 is under strong pressure. 1.5505 is next” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 05, 2014 OctaFX.Com News Updates

Does the current account deficit matter for GBP? – BAML FXStreet (Barcelona) - According to Bank of America-Merrill Lynch FX strategists, GBP is showing obverse behaviour as it trends higher while the increasing current account deficit in the UK should lead to a soft impact on the currency. Key Quotes “Over the medium-term, a large and deteriorating external trade position is ultimately negative for a currency and leaves it vulnerable during periods of heightened volatility. The UK continues to run a dual deficit with large public sector deficits alongside external imbalances. Yet, despite this, GBP is some 20% higher in TWI terms from its post-GFC lows.” “Admittedly, the imbalances that the UK faces are not unique; indeed, the budget deficit has been nearly halved as a % of GDP. But the resilience of GBP to the deterioration of the current account has been one of the more curious aspects of GBP performance in recent years.” “The Bank of England1 believes that the cyclical downturn in the euro area will keep FDI returns weak over the coming years but believes that the UK's net international investment position (NIIP) is far healthier than official data would suggest if the stock of FDI assets is marked to market. Under its scenario, the UK's NIIP would have been circa +30% of GDP in 2013 versus broadly balanced according to official estimates. The BoE concludes that valuation effects should keep NIIP broadly stable in future against the backdrop of the current account deficit.” “For GBP, if the Bank of England is correct on its revised NIIP measure, this should come as some relief and alleviate concerns that the persistence of large current account deficits presents a clear and present danger for the pound.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 05, 2014 OctaFX.Com News Updates

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Wall street likely to open on a flat note FXStreet (Mumbai) - The action in the US index futures indicates the markets are likely to open on a flat note after posting modest gains in the previous session. The DJIA futures and the S&P futures are trading dead flat ahead of the opening bell. On the data front, the ADP report showed another rise in the private sector employment in November, although the pace of job additions fell short of the economists’ expectation. Meanwhile, another report from the labor department showed that labor productivity rose by more than previously estimated in the third quarter. The Equity markets in the US will watch out for the ISM services index, which is likely to have inched up to 57.5 in November from 57.1 in October. The Federal Reserve is also scheduled to release its Beige Book report later in the day. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 03, 2014 OctaFX.Com News Updates

Gold gains marginally after ADP miss FXStreet (Mumbai) - Gold prices moved marginally higher after the ADP employment report showed a slowdown in the job additions in November. Gold now trades at USD 12064.70/Oz levels, slightly higher than the pre-data level of USD 1202.70/Oz. The yellow metal was pushed higher by the ADP reported which printed at 208K, lower than the market expectation of 222K. The ADP number stood at 230K in October. The gains in the yellow metal are not significant and may be erased since the US dollar as well as the Treasury yields have not reacted significantly to the weaker-than-expected data. Gold Technical Levels Gold has an immediate resistance located at 1208, above which prices may extend gains to 1221.00 levels. Meanwhile, support is seen at 1200.00 (50-DMA) and 1191.80 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 03, 2014 OctaFX.Com News Updates

BoC statement to remain neutral – TDS FXStreet (Barcelona) - According to the Research Team at TD Securities, a weaker CAD, lower crude oil prices combined with the strength shown by growth & inflation will keep the BoC neutral today. Key Quotes “USDCAD has traded lower overnight defying both the stronger big-dollar trend and the softer tone in crude oil prices that have carried over from yesterday.” “Our expectation is that the BoC statement will remain neutral, balancing risks from lower crude oil prices with the recent strength shown by both economic growth and inflation and the shock-absorbing services paid by a weaker CAD.” “On the charts, the USD’s rejection of the early November high at 1.1465 again earlier this week leaves a bit of a dark technical cloud over the near-term USDCAD outlook and the drag of the CAD crosses (EURCAD nearing 1.40 again) may see funds struggle to break decisively higher for the moment.” “We rather think the near-term outlook favours a little more range trading, with USDCAD well-supported in the low 1.13s.” “Fundamentally, we think minor dips are a buy; Fundamentally, USDCAD looks under-valued relative to our spot fair value estimate (based on spreads and terms of trade) of 1.1610 currently.“ OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 03, 2014 OctaFX.Com News Updates

Oil to average $70 in 2015 and 2016 – SG FXStreet (Barcelona) - The Research Team at Societe Generale, notes that oil prices are finding a base after testing the support around 67, and forecast it to average $70 in 2015 & 2016. Key Quotes “Oil prices are finding a base, after Brent tested its 67 support. Our commodity strategists now forecast oil prices to average $70 in 2015 and 2016, so there's no good news just around the corner but still, the oil-sensitive currencies may have been battered enough for now. Short AUD/CAD looks mightily attractive, and we are trying to figure out if we're brave enough to re-visit longs in NOK/SEK. The Bank of Canada should keep rates on hold at 1% today.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 03, 2014 OctaFX.Com News Updates

EUR/USD under pressure – TDS FXStreet (Barcelona) - The TD Securities Team notes that EUR/USD is under pressure and anticipate the pair to trade defensively ahead of the ECB meeting. Key Quotes “EURUSD is heading into the end of the year on a weak note—note seasonal swoon for the USD is evident at this point but that is little wonder, considering the headwinds facing the single currency.” “Firstly, Fed officials are sounding confident about the economic outlook and yields in the belly and long end of the US curve are responding. Secondly, this morning’s Eurozone PMI data revisions suggest that the block continues to struggle, raising expectations that the ECB will have to come up with more aggressive easing action. In this respect, the EUR will trade defensively ahead of Thursday's ECB meeting where markets will look for President Draghi to signal a willingness to do more—his late November speech suggested a need to move quickly though we do not expect significant new policy steps just yet.” “One wrinkle here is that the ECB moves to a 6-week meeting schedule in 2015 so from here, the next opportunity for the ECB to act will not be until late January; that may shift the balance of risks to doing something sooner rather than later very slightly (given Draghi’s sense of urgency)—though we still favour “later”.“ “No significant, new QE steps may see the EUR rally modestly Thursday but, with US jobs data just around the corner, a good ADP report today likely means little more upside potential than the low 1.24s for EURUSD from here. Look to sell modest EUR rallies near-term.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 03, 2014 OctaFX.Com News Updates

Autumn Statement: Osborne announces OBR downgrade of UK growth forecasts FXStreet (London) - Giving his Autumn Statement, UK Chancellor of the Exchequer, George Osborne has announced that the Office for Budgetary Responsibility has downgraded its forecasts, citing the problems facing the Eurozone and Japan. The OBR forecasts the UK to grow 2.4 percent next year and 2.2 percent in 2016. It forecasts inflation at 1.2 percent in 2015 and 1.7 percent in 2016. The 2015-16 budget deficit is forecasted at GBP75.9 with the UK expected to run a budget surplus in 2018-2019. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 03, 2014 OctaFX.Com News Updates

EUR/USD holding on to 1.2320 FXStreet (Edinburgh) - The shared currency remains immersed in the red territory on Wednesday, putting the 1.2320 level to the test ahead of the ADP report. EUR/USD weaker, eyes on ECB Spot now extends its weekly descent to fresh ytd lows amidst worsening data from the euro area and the increasing ECB rhetoric pointing to the likeliness of further easing in the near future, capping upside attempts as a consequence. Ahead in the session, the ADP report will be the first test, with consensus expecting the US private sector to have added 221K during November. In light of the ECB meeting due tomorrow, analysts at Danske Bank argued “One trigger for more easing from the ECB would be that the current measures are not enough to boost the balance sheet, and so far the ECB still expects the balance sheet to move towards its early 2012 dimensions”. EUR/USD levels to watch At the moment the pair is losing 0.43% at 1.2328 and a break below 1.2295 (low Aug.20 2012) would aim for 1.2288 (low Aug.17 2012) and then 1.2256 (low Aug.16 2012). On the flip side, the immediate hurdle lines up at 1.2419 (low Dec.1) ahead of 1.2449 (10-d MA) and finally 1.2476 (high Dec.2). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 03, 2014 OctaFX.Com News Updates

AUD tumbling – SG FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Research at Societe Generale, sees AUD/USD likely to test the bottom of the two year declining channel at 0.8330/35 levels, which would add further pressure on the pair. Key Quotes “Australia saw real GDP growth slow to 0.3pct q/q, much lower than expected and taking annual growth to 2.7pct. There were downward revisions to back data and as economists ponder whether the outlook is bleak enough to prompt another rate cut in February, the currency market is simply selling the currency. The RBA would prefer a weaker currency than lower rates anyway. AUD/USD is now likely to test the bottom of a two-year declining channel at 0.8330/35. A break of this level would be a powerful bearish signal.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 03, 2014 OctaFX.Com News Updates

GBP/USD steady midrange – FXStreet FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that GBP/USD trades steadily today due to the better than expected UK Services PMI, avoiding the USD strength for the time being. Key Quotes “The GBP/USD trades unchanged on the day, avoiding dollar strength thanks to a better than expected UK Services PMI, showing Britain's services sector expanded faster in November. The pair hovers around the 1.5650 level, with little directional strength according to technical readings, with the pair trading halfway of the daily range.” “The 4 hours chart shows 20 SMA offering intraday resistance around the 1.5670 level, while indicators stand flat around their midlines, giving no clues on upcoming direction.” “The daily low was so far set at 1.5618, and downward acceleration below it to see the pair gaining bearish strength towards 1.5584 the year low set past week. Above mentioned resistance, next one comes at the 1.5720/40 area, probable top for the day if reached.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 03, 2014 OctaFX.Com News Updates

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