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USD/JPY bulls let their chance slip through the fingers; 104.00 is still unbroken FXStreet (Moscow) - USD/JPY touched the intraday high at 104.06 on the back of Yellen's comments, but the bullish momentum was not strong enough as the pair returned to its old range, currently trading at 103.90 Unhelpful Yellen Janet Yellen has driven markets crazy with her so long awaited speech in Jackson Hole. She stated that rates might be raised sooner if there is a faster progress on goals, while slower progress will delay rate increase. Sounds like she tries to have something for bears and something for bulls at the same time. Investors hoped that this speech will help them to shape a clear USD direction, but they might get nothing more that just a bout of volatility. Thus USD/JPY returned below 104.00 level. The nearest support is still at 103.60. What price levels and patterns have to be considered? Spot is presently trading at 103.94, and next resistance can be seen at 103.97 (Yesterday's High), 104.01 (Daily Classic R1), 104.07 (Daily High), 104.18 (Daily Classic R2) and 104.39 (Daily Classic R3). Support below can be found at 103.85 (Daily Open), 103.85 (Monthly High), 103.85 (Weekly High), 103.81 (Daily Classic PP) and 103.78 (Hourly 20 EMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates

USD/CAD spiked to 1.0980 on data FXStreet (Edinburgh) - The Canadian dollar has abruptly depreciated just beyond 1.0980 vs. the greenback on Friday, although the USD/CAD quickly returned to the mid-10900s. USD/CAD neutral post-CPI The quick climb to fresh tops around 1.0980 proved to be ephemeral, as spot is now hovering over the 1.0950/45 region. Consumer prices in the Canadian economy expanded 2.1% on a yearly basis and contracted 0.2% inter-month, both prints missing previous estimates at 2.3% and -0.1%, respectively. Core prices, gauged by the BoC also disappointed traders, coming in at 1.7% YoY and -0.1% MoM. The positive news followed a better-than-expected Retail Sales figures, advancing 1.1% in June. Camilla Sutton, Chief FX Strategist at Scotiabank commented that “short term technicals are mixed with some studies warning of upside risk and others warning of downside risk, leading to a range bound environment”. USD/CAD levels to watch At the moment the pair is up 0.10% at 1.0952 and a breakout of 1.0987 (high Aug.21) would open the door to1.1007 (high May 2) and then 1.1053 (high Apr.23). On the flip side, the next support aligns at 1.0933 (low aug.20) ahead of 1.0899 (high Aug.18) and finally 1.0870 (200-d MA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates

Canada: CPI (Jul) rose 2.1% YoY FXStreet (Edinburgh) - Canadian headline consumer prices rose 2.1% on a year through July, missing forecasts for a 2.3% gain. On a monthly basis prices contracted 0.2%, vs. -0.1% expected. The Bank of Canada Core CPI rose 1.7% over the last twelve months and dropped 0.1% inter-month. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates

Canada Bank of Canada Consumer Price Index Core (MoM) below expectations (0%) in July: Actual (-0.1%) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates

USD bullishness remains intact FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, observed the firmer tone from the US dollar. Key Quotes "more strong US data ahead of speech from Fed Chair Yellen The US dollar has weakened modestly in the Asian trading session paring gains recorded after the release of the more hawkish than expected FOMC minutes. The dollar index has almost fully retraced its initial move higher following the release of the minutes on Wednesday alongside the pullback in long-term US yields, although short-term US yields still remain higher. The US dollar has been able to hold onto more of its recent gains against the yen with USD/JPY having broken out to the upside from its recent tight trading range between the 101.00 and 103.00 levels." "The relative underperformance of the yen is also likely a reflection of both building expectations of accelerated monetary easing from the BoJ, and the ongoing easing of safe haven demand for the yen. Global investor risk sentiment has continued to improve this week with US equities rising to a new record high overnight having fully retraced their correction lower from earlier this month. Risk assets and more high beta currencies like the Australian dollar are reacting favourably to further evidence that the US economy is continuing to strengthen while US yields continue to remain close to recent lows." "A batch of stronger than expected economic reports was released yesterday from the US which has supported global investor risk sentiment and reinforces the case for a stronger US dollar in the near-term. The release of the latest manufacturing PMI survey revealed that business confidence increased by 1.2 point to 58.0 in August." "It was the highest level since April 2010 providing further evidence that robust manufacturing growth momentum has been sustained so far in Q3. The Philly Fed business outlook survey also increased by 4.1 point to 28.0 in August, and the index of leading indicators by a robust 0.9% in July. The leading index has increased by an average of 0.7%/month over the last three months bringing it back into line with the strong growth momentum evident late last year prior to the Q1 slowdown." "The pullback in the US dollar overnight ahead of today’s keynote speech from Fed Chair Yellen is understandable following the strong gains recorded earlier this week and the likelihood that Fed Chair Yellen continues to sound dovish which is likely encouraging a paring of long US dollar positions. As we have stated before we do not expect Fed Chair Yellen’s speech on the labour market today to a signal a shift in Fed monetary policy rather she is more likely to reiterate her view that labour market conditions continue to improve but that there is still significant underutilisation of labour market resources allowing the Fed to maintain loose monetary policy." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates

USD/CAD in highs near 1.0960 FXStreet (Edinburgh) - The greenback is resuming its rally on Friday, taking the USD/CAD to test session highs near 1.0960. USD/CAD focus on CPI The pair is extending its bounce off overnight lows in the 1.0930 area, ahead of the key inflation figures due in Canada later. Market consensus expects headline consumer prices to expand at an annual rate of 2.3% in July, down from June’s 24%; Core prices are expected to tick higher to 1.9% over the last twelve months vs. 1.8% YoY previous. “Short, medium and long-term trend studies are still bullishly aligned so we expect softness to base around short-term trend support at 1.0934 currently”, noted Shaun Osborne, Chief FX Strategist at TD Securities. USD/CAD levels to watch At the moment the pair is up 0.14% at 1.0957 and a breakout of 1.0987 (high Aug.21) would open the door to1.1007 (high May 2) and then 1.1053 (high Apr.23). On the flip side, the next support aligns at 1.0933 (low aug.20) ahead of 1.0899 (high Aug.18) and finally 1.0870 (200-d MA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates

USD/JPY points to consolidation near term – Commerzbank FXStreet (Edinburgh) - In the view of Axel Rudolph, Senior Technical Analyst at Commerzbank, the pair could attempt a consolidation pattern in the very near term. Key Quotes “USD/JPY has now risen above the March high at 103.77 and so far rose to 103.96. It continues to have the April peak at 104.13 in focus but is expected to consolidate below it today”. “Together with the 104.45 78.6% retracement, 104.13 is regarded as the last defence for the 105.45 2014 high”. “Minor support comes in around the July peak at 103.15”. “We will retain our bullish view while USD/JPY remains above the current August low at 101.51”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates

What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank FXStreet (Edinburgh) - The EUR/USD is staging some sort of recovery from yesterday’s multi-month lows near 1.3250, ahead of the key Jackson Hole Symposium. “In the run-up to Yellen and Draghi later today, market skepticism towards any rebound beyond 1.3330 is expected to mount while 1.3230 may continue to attract. As noted previously, any hawkish hints out of the Fed are likely to be juxtaposed against the ECB’s ongoing dovishness and this may continue to weigh on the pair”, noted Emmanuel Ng, FX Strategist at OCBC Bank. Axel Rudolph, Senior Technical Analyst at Commerzbank, observed the pair “probed the 38.2% Fibonacci retracement of the 2012-14 rise at 1.3249 and briefly made a new August low at 1.3242 before stabilising on Thursday. A minor bounce is thus likely to be seen… Minor resistance comes in around 1.3333/36 and more important resistance along the three month downtrend line at 1.3422”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates

Risk sentiment in ‘wait-and-see’ ahead of Jackson Hole – Danske Bank FXStreet (Edinburgh) - The risk-on trade remains dormant at the end of the trading week, ahead of the events from the Jackson Hole Symposium, commented Flemming Nielsen, Senior Analyst at Danske Bank. Key Quotes “Risk sentiment overall remains positive but the market is gradually going to wait-and-see mode ahead of Fed Chairwoman Janet Yellen’s speech this afternoon”. “Yesterday’s macroeconomic data were mixed. In the US data were better than expected across the board and the housing data particularly continued to suggest that the recovery in the euro area and China remains fragile”. In the US S&P 500 closed at a new record high yesterday and Asian stock markets are mostly higher this morning, taking their lead from the US. In the FX market the USD is taking a breather after the recent sharp appreciation and the major FX crosses have been largely range trading overnight”. “10-year US bonds yields have also declined slightly since market close in Europe yesterday, as the market has turned its attention from the slightly hawkish Fed minutes to Yellen’s speech later today”. “In connection with the official opening of the Jackson Hole central bank conference yesterday, some of Fed’s hawks had the opportunity to express their views”. “Kansas City Fed President Esther George, the conference host, in her opening remarks said broad-based employment gains suggest that the US economy is strong enough to withstand higher interest rates”. “Philadelphia Fed President Charles Plosser, who dissented at the last Fed meeting, said that very easy monetary policy is increasingly risky. Plosser also warned against making wage development the centrepiece of monetary policy, as its relationship with inflation is not strong”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates

USD/JPY pulls back after faltering at 103.95 FXStreet (Córdoba) - Following another rejection ahead of the 104.00 level, the USD/JPY turned south and corrected some of its recent gains. The USD/JPY found resistance once again at the 103.95 area and pulled back, turning intraday negative and hitting a daily low of 103.67 in recent dealings. At time of writing, the pair is trading at 103.70, 0.12% below its opening price. With no US data scheduled for today, focus remains on the Jackson Hole symposium where not only Fed Chair Janet Yellen will speak today, but also other top central bankers as BoJ Kuroda and ECB Draghi. USD/JPY technical levels As for technical levels, above 103.95/104.00, next resistances could be found at 104.12 (Apr 4 high), 104.32 (76.4% Fibo of 105.44-100.75) and 104.84 (Jan 23 high). On the other hand, supports are seen at 103.59 (Aug 21 low), 103.00 (psychological level), 102.88 (Aug 20 low) and 102.51 (Aug 19 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates

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United States EIA Natural Gas Storage change registered at 88B above expectations (83B) in August 15 Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 21, 2014 OctaFX.Com News Updates

USD/CAD making steady progress- TD Securities FXStreet (Łódź) - The TD Securities team of analysts expect the USD/CAD to reach 1.1050 in the near-term and then the 1.12 level in the next few weeks. Key quotes "USD/CAD closed firmly Wednesday and made a little more progress overnight to eek out a marginal new cycle high in the upper 1.09s before drifting back." "After working through corporate selling interest in the mid 1.09s, yesterday afternoon’s push up in the USD broadly took funds through important technical resistance at 1.0960 into the close—just. But 'just' might be good enough." "We are still bullish and think the rise through 1.0960 will underpin the broader rebound in USD/CAD that really got under way in late July." "We continue to target 1.1050 near-term but we think 1.12 is reachable in the next few weeks. We target 1.15 in Q1 2015." "Technically, short-term price action is turning a little heavy as our session gets underway but we think the 1.0950/60 area should provide support for USD/CAD near-term; the underlying bull trend in funds continues to strengthen and that should limit downside corrective potential for the moment." "Below 1.0950 may see the low 1.09s retested but no more." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 21, 2014 OctaFX.Com News Updates

GBP/JPY bullish corrective phase in progress - ForexTrading.TV FXStreet (Łódź) - Petar Jacimovic, currency analyst at ForexTrading.TV, points out that a GBP/JPY bullish corrective phase is in progress. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 21, 2014 OctaFX.Com News Updates

EUR/USD finds no inspiration in data FXStreet (Córdoba) - The EUR/USD barely moved following the latest series of economic data as investors seem unwilling to push the dollar further ahead of Fed Yellen speech tomorrow in Jackson Hole. Data showed Eurozone consumer confidence declined further in August with the index hitting -10 versus -9.0 expected. On the other side of the Atlantic, July existing home sales rose 2.4% versus a fall of 0.4% expected while the Philly Fed manufacturing index rose to 28.0 against 19.2 forecasted. US leading economic index rose to 0.9% versus consensus of 0.6%. The EUR/USD moved a few pips lower before bouncing to fresh daily highs, although the move was tame, with the pair stalling at a high of 1.3280. At time of writing, the EUR/USD is at 1.3275, 0.13% above its opening price. EUR/USD technical outlook “Dollar momentum seems temporarily interrupted, with US indexes at record highs and US 10Y yields above 2.40%, giving high yields a breath”, said Valeria Bednarik, chief analyst at FXStreet. “Technically however, the pair is far from suggesting a strong upward potential, with the 1 hour chart showing indicators flat above their midlines and price above a still bearish 20 SMA. In the 4 hours chart indicators maintain their bearish slope despite in oversold levels, supporting the shorter term view”. Bednarik locates immediate supports at 1.3250, 1.3210 and 1.3170 while she sees resistances at 1.3300, 1.3330 and 1.3370. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 21, 2014 OctaFX.Com News Updates

Eurozone PMIs signal decelerating but positive growth in August - BNP Paribas FXStreet (Łódź) - Frédérique Cerisier, economist at BNP Paribas, suggests that the slowdown in Eurozone PMI to 52.8 in August sends mixed signals regarding the evolution of activity in Q3. Key quotes "In the Eurozone, the composite output PMI index lost in August the whole point it gained in July." "It fell to 52.8, a level consistent with GDP growth well above zero recorded in Q2 though, around 0.3%q/q according to Markit." "The surveys suggest that the deceleration in activity was widespread, but significantly larger in industry than in services." "In the latter, the business activity index fell by less than a point and remained at a still comfortable level of 53.5." "In the manufacturing sector, however, the output index, after stabilizing in July, started again to lose substantial ground. It fell by almost two points in August, and, at 50.9, suggests output is hardly increasing in that sector." "In Germany especially, manufacturing activity and business climate is likely to be badly hit by increasing geopolitical tensions, and especially by sanctions against Russia." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 21, 2014 OctaFX.Com News Updates

EUR/JPY contained above 137.60 FXStreet (San Francisco) - The EUR/JPY jumped to 3-week highs at 137.85 overnight, however the pair wasn't able to hold at highs but the rejection was contained at 137.60. Currently, EUR/JPY is trading at 137.64, up 0.06% on the day, having posted a daily high at 137.87 and low at 137.47. EUR/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is strongly bullish. EUR/JPY levels If the pair breaks below 137.60, it will face supports at 137.50, 137.45 and 137.20. On the upside, resistances are at 137.80, 138.00 and 139.00. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 21, 2014 OctaFX.Com News Updates

USD/CAD dips to lows around 1.0950 FXStreet (Edinburgh) - The greenback is now losing the grip vs. its neighbour, dragging the USD/CAD to fresh lows in the boundaries of 1.0950. USD/CAD softer after US docket The selling pressure has accelerated around the USD despite Initial Claims came in a tad better than estimates, dropping to 298K in the week ended on August 15th vs. 300K forecasted and 312K from the previous week. Next of relevance will be the manufacturing PMI tracked by Markit, Existing Home Sales and the Philly Fed manufacturing survey. “Technically, short-term price action is turning a little heavy as our session gets underway but we think the 1.0950/60 area should provide support for USDCAD near-term; the underlying bull trend in funds continues to strengthen and that should limit downside corrective potential for the moment. Below 1.0950 may see the low 1.09s retested but no more”, suggested Shaun Osborne, Chief FX Strategy at TD Securities. USD/CAD levels to watch At the moment the pair is losing 0.18% at 1.0950 facing the next support at 1.0899 (high Aug.18) ahead of 1.0870 (200-d MA) and finally 1.0861 (low Aug.15). On the upside, a breakout of 1.0986 (high Aug.6) would open the door to1.1007 (high May 2) and then 1.1053 (high Apr.23). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 21, 2014 OctaFX.Com News Updates

Yellen could address financial bubble concern at Jackson Hole - John Kicklighter Yellen could address financial bubble concern at Jackson Hole - John Kicklighter FXStreet (Łódź) - John Kicklighter, Senior Currency Strategist for FXCM in New York suggests in an interview for FXStreet that Fed head Janet Yellen could speak about the financial bubble woes at the Jackson Hole summit on Friday. Key quotes "The Fed Chair has made a concerted effort to maintain a dovish leaning status quo through both the FOMC policy meetings and her own press conference outings." "From her perspective, inspiring confidence in the markets is critical." "The central bank is trying to keep interest rates down to support growth, acclimatize the market to a future where normalization will have to take place and attempt to curb a financial bubble." "The rate focus has been consistent and the preparation of a withdrawal of stimulus has grown consistent over the past six months." "The financial bubble concern has only recently found its way into the commentary." "And yet, it can pose a serious problem to the entire effort. I would not be surprised to see the most substantial new ground broken on this topic." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 21, 2014 OctaFX.Com News Updates

NZD/USD potential downside to 0.82 – ANZ FXStreet (Barcelona) - Sam Tuck, ANZ Research, expects the pair to head towards 0.82. Key Quotes "Recent events continue to affirm our 24 July trade recommendation to sell NZD/USD targeting 0.82." "Dairy prices have stabilised, but prices have flattened, implying downside risks remain." "Political risks mean the election is not the fait accompli it once was." "ANZ monthly inflation gauge validates markets move to reducing probabilities for RBNZ action." 'USD developments remain positive in line with ANZ’s ahead of consensus FOMC March lift off call." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 21, 2014 OctaFX.Com News Updates

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Merkel: Europe needs to work on construction flaws FXStreet (Łódź) - Speaking at an economic event in Lindau, Germany, Chancellor Angela Merkel stressed that to definitively overcome the debt crisis in Europe, EU Member States should tighten their cooperation further. She called for improving the construction of the EU and for making the Eurozone banking system more transparent. She also suggested G20 countries should tighten shadow banking rules. Furthermore, Merkel stressed that sustainability is the main principle of the German government's decisions on fiscal policy. She pointed to the demographic challenge in Germany as one of the most important to deal with currently in order not to overburden future generations. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 20, 2014 OctaFX.Com News Updates

FOMC minutes to support a stronger USD - Scotiabank FXStreet (Córdoba) - Camilla Sutton, strategist at Scotiabank, commented that the Fed minutes are the focus and expected to support a stronger USD as it will refocus markets on diverging interest rate paths. Key Quotes "The Fed minutes are expected to showcase the more hawkish stance of both non‐voting members like Bullard and Lacker and voting members like Plosser and Fisher. Accordingly, the risk is that the focus on the timing of normalization to begin sooner rather than later". "In addition, the minutes might provide further clues as to the exit plan; but a full reveal of this is more likely to be delivered directly from Chair Yellen". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 20, 2014 OctaFX.Com News Updates

USD/JPY finds resistance at 103.40 FXStreet (Córdoba) - Extending gains into a third consecutive day, the USD/JPY broke above 103.00 and printed fresh 4-month highs amid broad dollar strength ahead of the FOMC minutes. The USD/JPY climbed to its highest level since early April at 103.39 as the dollar continued to build on yesterday’s housing data-inspired gains. However, the USD/JPY found resistance at the 103.40 zone and pulled back slightly to currently trade around 103.20, recording a 0.29% gain Wednesday. Market attention now turns to the FOMC minutes release scheduled for 18:00 GMT for clues of the Federal Reserve next steps. USD/JPY levels to watch If the USD/JPY manages to break above 103.40, next resistances could be found at 103.75 (Mar 7 high), 104.00 (psychological level) and 104.12 (Apr 4 high). On the other hand, supports are seen at 102.88 (Aug 20 low), 102.51 (Aug 19 low) and 102.24 (Aug 18 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 20, 2014 OctaFX.Com News Updates