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Canada: Wholesale sales grow less than expected in June FXStreet (Łódź) - The Canadian Wholesale Sales data released by Statistics Canada today shows 0.6% growth in June, compared with the May 2.3% rise. Market consensus pointed to a 1.3% increase. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 20, 2014 OctaFX.Com News Updates

Encouraging price action for USD/CAD bulls - TD Securities FXStreet (Łódź) - The TD Securities team of analysts suggest that the gains in funds over the past few days from the upper 1.08 area is very encouraging for USD/CAD bulls. Key quotes "The market is ripe for another, broader squeeze up in the USD under the right circumstances." "Today in particular that would come in the form of disappointing Canadian wholesale trade data (weaker data may point to softer growth) and a constructive undertone to the FOMC minutes." "Technically, a push through resistance at 1.0960—the top of the broad bull flag consolidation channel in formation over the past few months—should set the USD up for more medium-term gains (towards 1.16/1.17 potentially in the next 6-9 months)." "This level should resonate a little more with the market than the neckline of what looks to be an inverse H&S low/reversal formation which comes in at 1.0990; sustained gains through here would point to the USD rallying to the mid 1.13s in the next 3 months or so." "We remain bullish on the near-term outlook for the USD and target a rally to 1.1050; sustained, short-term gains in funds would suggest building risks of an extended run higher in funds moving into 2015 (formally, we target 1.15 in Q1)." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 20, 2014 OctaFX.Com News Updates

EUR/GBP trend line and MA important short term support for continuation - ForexTrading.TV FXStreet (Łódź) - Laith Marmarchi, currency analyst at ForexTrading.TV, suggests that the EUR/GBP trend line and MA provide important short term support for continuation. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 20, 2014 OctaFX.Com News Updates

Poland Producer Price Index (YoY) fell from previous -1.7% to -2% in July Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 20, 2014 OctaFX.Com News Updates

No November BoE rate hike expected despite dissenting votes - RBS FXStreet (Łódź) - Ross Walker, Senior UK Economist at RBS suggests that even though two MPC members decided to vote for a 25 bp rate hike in August, as BoE minutes showed, the rise should not be carried out as soon as November 2014. Key quotes "We continue to regard Mssrs Weale and McCafferty as outliers not bellwethers – at the margin, our confidence in this view is reinforced following yesterday's CPI inflation data and today's MPC Minutes." "The RBS forecast remains for the first 25bp hike to come in February 2015, with 25bp increases in the Inflation Report months of May, August and November 2015 – ie, Bank Rate at 1.5% at end-2015." "The risks around this forecast are tilted modestly towards later and slower tightening (eg, heightened financial market volatility around the May 2015 election might augur in favour of unchanged policy settings)." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 20, 2014 OctaFX.Com News Updates

GBP/USD clinches to 1.6650 FXStreet (Edinburgh) - The sterling remains on the right footing on Wednesday, with the GBP/USD meandering around the mid-1.6600s so far. GBP/USD bid despite the risk-off tone The upbeat sentiment post-BoE minutes is currently bolstering the upside in the sterling, managing quite well to keep the middle area of 1.6600. It is worth recalling that the GBP reacted positively following the MPC vote, where members M.Weale and I.McCafferty favoured an immediate rate hike. “The August MPC Minutes symbolically brought the first dissenting policy votes, but we do not believe that a November 2014 Bank Rate hike is materially more likely following these Minutes… The RBS forecast remains for the first 25bp hike to come in February 2015, with 25bp increases in the Inflation Report months of May, August and November 2015 – ie, Bank Rate at 1.5% at end-2015”, suggested Ross Walker, Analyst at RBS. GBP/USD levels to consider As of writing the pair is up 0.20% at 1.6650 with the next hurdle at 1.6722 (10-d MA) followed by 1.6728 (high Aug.19) and finally 1.6739 (high Aug.18). On the flip side, a breakdown of 1.6567 (low Apr.7) would target 1.6555 (low Apr.4) en route to 1.6500 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 20, 2014 OctaFX.Com News Updates

USD extends its rally - BTMU FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, remarks the USD upside momentum ahead of the FOMC minutes. Key Quotes "Upward trend resumes after stalling during the first half of August The US dollar has continued to strengthen in the Asian trading session leading to USD/JPY breaking above the top of its recent tight trading range between 101.00 and 103.00. US dollar upward momentum resumed yesterday with the dollar index rising to its highest level since the 9th September 2013 after finally breaking decisively above resistance at around the 81.50-level." "The US dollar is continuing to derive support from the ongoing outperformance of the US economy in the near-term which appears to be strengthening while growth in most other major economies is losing momentum. It was revealed yesterday that both housing starts and building permits rebounded by more than expected in July providing further evidence that the US housing market is beginning to rebound after weakness in the first half of this year. Still, the underlying trend in housing starts remains one of only very gradual improvement while permits have flat-lined so far during 2014." "The release yesterday of the latest US CPI report also revealed that inflation pressures have eased over the last couple of months. Core inflation increased for the second consecutive month by just 0.1% in July." "It supports Fed Chair Yellen’s view that the pick-up in inflation in the first five months of this year may prove to be just “noise” with underlying inflation pressures still subdued. As a result the Fed is likely to feel more comfortable to maintain its current loose monetary stance for longer which will help dampen upward pressure on US yields and the US dollar from strengthening economic growth momentum in the US." "It leaves us a little cautious about chasing further US dollar gains in the near-term ahead of Fed Chair Yellen’s speech at Jackson Hole on Friday. Before that the release of the latest FOMC minutes from their 29th-30th July meeting will be in focus today. We do not expect a more detailed discussion of the Fed’s expect strategy until later this year after the Fed has brought an end to QE in the autumn." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 20, 2014 OctaFX.Com News Updates

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GBP/USD edges even lower after US data FXStreet (Córdoba) - The GBP/USD stretched to yet another 4-month low at the beginning of the American session as the greenback strengthened after the release of US inflation and housing data. Annual US consumer price index grew by 2.0% for the headline and 1.9% for the core in July, matching market's expectations. On a strong note, US housing starts rose 15.7% to 1.093 million in July versus 7.6% forecasted, reaching the highest level in 8 months and indicating a pick up in building. The GBP/USD, that was underperforming in the wake of UK CPI downside surprise, fell to a fresh 4-month low of 1.6622 in recent dealings. GBP/USD technical levels In terms of technical levels, the Cable could find next supports at 1.6602/00 (Apr 8 low/psychological level), 1.6564 (Apr 7 low) and 1.6548 (Apr 4 low). On the flip side, resistances are now seen at 1.6667 (200-day SMA), 1.6700 (psychological level) and 1.6727 (Aug 19 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 19, 2014 OctaFX.Com News Updates

USD/CAD back to 1.0900 FXStreet (Edinburgh) - The USD/CAD quickly faded the spike to fresh highs just below 1.0920 in the wake of the US data releases. USD/CAD tests fresh highs on US data Spot posted fresh 3-day highs after the US consumer prices advanced 2.0% in a year to July, in line with market forecasts. Core prices rose 1.9% over the last twelve months, in line with estimates and previous print. Further data showed both Building Permits and Housing Starts surpassing expectations at 1.052M and 1.093 M, respectively. In the view of Shaun Osborne, Chief FX Strategist at Scotiabank, “Having found firm support late last week around the 200-day MA, USDCAD really needs to make a little clearer headway through the low 1.09 area if it is to stabilize—and improve further – from a technical point of view… We look for support at 1.0890/95 today to provide a base for funds to retest 1.0950 in the days ahead”. USD/CAD levels to watch At the moment the pair is advancing 0.17% at 1.0906 facing the next hurdle at 1.0919 (high Aug.15) followed by 1.0921 (high Aug.14) and finally 1.0941 (high Aug.13). On the flip side, a breach of 1.0868 (200-d MA) would open the door to 1.0861 (low Aug.15) and then 1.0808 (Kijun). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 19, 2014 OctaFX.Com News Updates

EUR/USD hits fresh 2014 lows after US data FXStreet (Córdoba) - The EUR/USD fell to fresh year-to-date lows after the latest series of US inflation and housing data. Although inflation figures were in line with expectations, housing starts jumped to the highest level in 8 months, indicating a pick up in building. Annual US consumer price index grew by 2.0% for the headline and 1.9% for the core in July, matching market’s expectations. Separated data showed housing starts rose 15.7% to 1.093 million in July versus 7.6% forecasted. The dollar strengthened broadly and dragged the EUR/USD to fresh 2014 lows as stops were triggered. The pair rushed to a low of 1.3319 so far and it was last down 0.24% at 1.3330. EUR/USD technical levels As for technical levels, next supports are now seen at 1.3295 (Nov 7 2013 low), 1.3250 (mid-September 2013 lows) and 1.3230 (Sep 10 2013 low). On the flip side, resistances could be found at 1.3400 (psychological level), 1.3411/14 (Aug 13 & 15 highs) y 1.3432 (Aug 8 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 19, 2014 OctaFX.Com News Updates

US: CPI (Jul) rose 2.0% FXStreet (Edinburgh) -The Department of Labour informed that US consumer prices rose at an annual pace of 2.0% during July, banging on estimates. On a monthly basis, prices rose 0.1%. Core CPI, which strips food and energy costs, rose 1.9% over the last twelve months and 0.1% inter-month. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 19, 2014 OctaFX.Com News Updates

EUR/USD around 1.3350, US docket eyed FXStreet (Edinburgh) - The shared currency is trading on the back footing on Tuesday, taking the EUR/USD to the area of 1.3350. EUR/USD focus on US CPI Spot continues to trade in the broader 1.3330-1.3450 range, looking for any catalysts to break the pattern either way. Ahead in the day, US consumer prices are due with consensus expecting headline CPI to have increased 2.0% in a year to July, a tad lower than June’s 2.1%; further data will also bring Housing Starts (0.970M exp.) and Building Permits (1.0M exp.). “Our optimal scenario is for price to continue respecting a bearish consolidation (triangle) on the daily chart, which will point to a resumption of the underlying trend lower on a break under 1.3340. Gains through the low 1.34s will raise the risk of a squeeze higher through the upper 1.34/low 1.35 zone, however”, observed Shaun Osborne, Chief FX Strategist at TD Securities. EUR/USD significant levels The pair is now losing 0.11% at 1.3347 and a breakdown of 1.3336 (low Aug.12) would target 1.3333 (2014 low Aug.6) en route to 1.3318 (low Nov.8 2013). On the upside, the immediate hurdle aligns at 1.3399 (high Aug.18) followed by 1.3415 (200-w MA) and finally 1.3416 (high Aug.13). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 19, 2014 OctaFX.Com News Updates

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GBP/NZD resistance level at 1.9735 tested - ForexTrading.TV FXStreet (Łódź) - The US NAHB Housing Market Index grew to 55 in August, from 53 in July, according to data released by the National Association of Home Builders. Analysts expected the indicator to remain unchanged. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 18, 2014 OctaFX.Com News Updates

US: NAHB Housing Market Index up to 55 August FXStreet (Łódź) - The US NAHB Housing Market Index grew to 55 in August, from 53 in July, according to data released by the National Association of Home Builders. Analysts expected the indicator to remain unchanged. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 18, 2014 OctaFX.Com News Updates

Norges Bank could revise up its rate path – Danske Bank FXStreet (Edinburgh) - Chief Analyst Thomas Harr at Danske Bank thinks the Nordinc central bank could revise its rate path higher in the next monetary policy meeting. Key Quotes “We expect NB to revise the rate path upwards at the next monetary policy meeting on 18 September”. “NB currently says that rates will be kept at the current level until the end of 2015 followed by a ‘gradual rise’ and that it sees a 30% probability of a rate cut over the next year”. “The new rate path might remove the probability of a rate cut, bring forward the first rate hike and make the gradual rise in rates in 2016-17 less gradual”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 18, 2014 OctaFX.Com News Updates

USD/CAD consolidates below 1.0900 FXStreet (Córdoba) - The USD/CAD trades a touch softer Monday still capped below 1.0900, with the latest series of domestic data having no impact on the loonie. Data showed foreign investors reduced their holdings of Canadian securities by CAD 1.07 billion in June, led by the largest selloff on record of Canadian government bonds. The USD/CAD barely reacted to data but moved slightly higher within its 20-pip daily range. At time of writing, the USD/CAD is trading at 1.0885, down 0.11% on the day. USD/CAD levels to watch As for technical levels, the USD/CAD could find immediate supports at 1.0874 (20-day SMA), 1.0864/67 (200-day SMA/100-day SMA) and 1.0848 (Jul 30 low). On the other hand, resistances are seen at 1.0920 (10-day SMA), 1.0939 (Aug 13 high) and 1.0952 (Aug 12 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 18, 2014 OctaFX.Com News Updates

EUR/CHF negative below 1.2178 – Commerzbank FXStreet (Edinburgh) - The selling bias will prevail in the cross while below the 1.2178 level, observed Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “EUR/CHF dipped to 1.2087 on Friday, a level last seen in December 2012”. “In case of a drop through it being seen the November 2012 low at 1.2030 will be targeted”. “For today we expect it to stabilise around the 1.2101 March low”. “EUR/CHF will considered to be negative while trading below the 1.2178 late July high”. “Initial resistance comes in around the 1.2133 early July low with more resistance coming in around the 55 day moving average at 1.2158”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 18, 2014 OctaFX.Com News Updates

Yellen unlikely to support the greenback – BTMU FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, expects the USD to weaken in the very short term. Key Quotes "Fed Chair Yellen’s speech unlikely to support US dollar The foreign exchange market has remained relatively stable in the Asian trading session. After strengthening modestly in July, the US dollar has since stabilized so far in August with the dollar index failing to break decisively above resistance at around the 81.50 level." "The US dollar has lost upward momentum alongside the fall back in US yields which has been partially offset by lower yields outside of the US as well. The two-year US Treasury bond yield has declined sharply from a peak of 0.58% at the end of July to 0.41% at the end of last week." "The main focus in the week ahead from the US will be a keynote speech from Fed Chair Yellen on Friday at the Jackson Hole symposium. The title of the speech is “Labour Markets” which is one of Fed Chair Yellen’s specialist subjects." "We do not expect the speech to signal a shift in the Fed’ s monetary policy stance and is more likely to explore in more detail their views on the labour market from their last monetary policy meeting at the end of July. The Fed signalled at their last meeting that labour market conditions have improved. However, a range of labour market indicators suggests that there remains significant underutilization of labour resources." "Fed Chair Yellen is also viewed as being at the more dovish spectrum of the Fed especially with regards to the amount of slack still in the labour market. As such Fed Chair Yellen’s speech is unlikely to prove supportive for the US dollar in the near-term signalling that there is still plenty time before the Fed needs to begin tightening monetary policy despite strengthening labour market conditions." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 18, 2014 OctaFX.Com News Updates

Session Recap: USD little changed ahead of key events this week FXStreet (Córdoba) - A quiet European session to start the week, with the USD broadly unchanged within familiar ranges, as investors remain sidelined ahead of big events this week. The calendar is pretty light for today but data flow picks up tomorrow with the US releasing housing and inflation data. Then Wednesday the Fed will publish last meeting’s minutes and finally the Federal Reserve's annual economic symposium in Jackson Hole is scheduled for Friday. The EUR/USD fell to a low of 1.3380 but bounced to the 1.3400 area afterwards. The GBP/USD started the week a tad higher and consolidates around 1.6730 after comments from BoE Governor Carney over the weekend. The USD/JPY edged higher to the 102.40 zone on easing geopolitical concerns. Currencies linked to commodities were broadly unchanged. In Europe, stocks were posting big gains, with regional indexes around 1% up, underpinned by better risk sentiment. Gold was down 0.2% at $1,303 an ounce while crude oil lost nearly 1.0% to $96.37 a barrel. Main Headlines in Europe: What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank European stocks open with sharp gains as concerns ease Fed minutes and Jackson Hole Symposium US highlights this week - BNZ EMU: Trade surplus n.s.a. widens against forecasts in June Barclays: All eyes on Jackson Hole - eFXnews OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 18, 2014 OctaFX.Com News Updates

Refugee convoy in Ukraine suffers missile attack FXStreet (Łódź) - Tensions is Ukraine do not subside at the beginning of the week, with the Ukrainian military reporting that a refugee bus convoy has been struck by a missile. The attack, which took place close to the city of Luhansk, has most probably been carried out by Russian separatists, although their leader denies the accusations. Andriy Lysenko, spokesman for Ukraine's National Security and Defense Council, said that nine Ukrainian troops have been killed in clashes with separatists over the last 24 hours. He stressed that Russia amassed 45000 troops on the border with Ukraine. The talks on the situation in Ukraine held between foreign ministers of Russia, Ukraine, Germany and France on Sunday failed to bring an agreement on a ceasefire. "Our Ukrainian counterparts, unfortunately, continue setting conditions - and rather vague ones at that - including, as they say, the establishment of an impenetrable border," Russian Foreign Minister Sergei Lavrov said. Nevertheless, he informed that an agreement between Russia, Ukraine and the Red Cross was struck on the issue of the controversial Russian aid convoy to Ukraine. German Chancellor Angela Merkel has been invited to hold talks on the Ukraine situation in Kiev on Saturday. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 18, 2014 OctaFX.Com News Updates

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GBP/USD consolidating while on the offer sub key 1.6825 FXStreet (Córdoba) - Equities in Wall Street started the day with gains but following reports about an escalation of tensions Ukraine turned sharply to the downside. European markets also suffered and erased gains in the last hours of trade. The FTSE 100 finished slightly higher, with a gain of 0.06% at 6,689 far from 6,740 (daily high) while the Dax lost 1.43% and the Cac 40 declined 0.75%. In The US, the Dow Jones was falling 0.55% while the S&P 500 was down 0.37%. The US dollar was mixed in the currency market where the Swiss Franc was rising. On a volatile day, gold was trading above $1,300 after falling to $1,293 while crude oil was rising more than 1%, trading near $97.00 a barrel. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 15, 2014 OctaFX.Com News Updates