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GBPJPY sees successful rejection from Fibonacci retracement 61.8% - ForexTrading.TV FXStreet (Łódź) - Petar Jacimovic, currency analyst at ForexTrading.TV, observes that GBPJPY is experiencing a successful rejection from the 61.8% Fibonacci retracement. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 17, 2014 OctaFX.Com News Updates

United States EIA Natural Gas Storage change came in at 107B, above forecasts (99B) in July 11 Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 17, 2014 OctaFX.Com News Updates

United States Philadelphia Fed Manufacturing Survey came in at 23.9, above expectations (16) in June Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 17, 2014 OctaFX.Com News Updates

GBP/USD struggling around 1.7100 FXStreet (Córdoba) - The GBP/USD has extended its decline below the 1.7100 psychological level at the beginning of the American session as the USD benefits from decline in risk appetite. The GBP/USD dipped to a low of 1.7093 but bears lacked determination to take the GBP lower. A series of mixed US data barely affected the pair that continued to hover around 1.7100. At time of writing, the GBP/USD is trading at 1.7105, 0.17% below its opening price. US housing starts fell 9.3% in June, while consensus was looking for a small uptick. Meanwhile, initial jobless claims dropped to 302K last week, beating the 310K expected. GBP/USD levels to watch In terms of technical levels,on the downside next supports could be found at 1.7073 (23.6% Fibo of 1.6692-1.7190) and 1.7058 (Jul 15 low). On the flip side, resistances are seen at 1.7190 (2014 high Jul 15) and 1.7200 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 17, 2014 OctaFX.Com News Updates

EUR/USD finds support at 1.3520 FXStreet (San Francisco) - The EUR/USD reacted to the upside following the better than expected jobless claims in US as the pair is trading slightly bullish at 1.3530 after supporting the 1.3520. Earlier in the day, the EUR/USD peaked to 1.3540 where the pair found selling interest and it was launched down to test the 1.3520. Currently, EUR/USD is trading at 1.3531, up 0.04% on the day, having posted a daily high at 1.3541 and low at 1.3521. EUR/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is strongly bearish. EUR/USD sentiment "EUR/USD is seeing some light short-covering, now at 1.3530. A sustained move through 1.3540 is needed to make the weak shorts sweat," comments Jamie Coleman from FXBeat. "A move above 1.3580 is needed to make them puke." To the upside, resistances are seen at 1.3540, 1.3560 and 1.3570. Supports are at 1.3520, 1.3500 and 1.3510. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 17, 2014 OctaFX.Com News Updates

ECB's Constancio: Strictness of stress tests not only about results FXStreet (Łódź) - Vice-President of the ECB Vítor Constâncio commented on the details of Eurozone bank stress tests, released by the central bank on Thursday, saying that their strictness was not only about the results, as they have already prompted many lenders to raise new capital. “Banks know what we expect and have advance notice to prepare for the outcome of the comprehensive assessment,” the ECB policymaker said in a statement. “Much work has already been undertaken to repair banks’ balance sheets and, encouragingly, this work is continuing.” Constâncio admitted that some of the financial institutions would fail the stress tests but that there shouldn't be too many of them. He also added that the current strength of the euro reflected the improvement in market sentiment. "The upcoming stress tests have the potential to create some large volatility," Ryan Littlestone speculates on ForexLive. "Bad news and the euro plummets, good news and it rockets." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 17, 2014 OctaFX.Com News Updates

EMU: Annual CPI up 0.5% in June, as expected FXStreet (Łódź) - According to data released today by Eurostat, Eurozone annual inflation rose 0.5% in June, following 0.5% growth registered the previous month. This result is in line with analysts' forecasts. On a monthly basis Eurozone CPI edged up 0.1%, after sliding 0.1%, as expected. Year-over-year Core CPI rose 0.8% in June, up from 0.7%, in line with projections. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 17, 2014 OctaFX.Com News Updates

OctaFX.com-OctaFX becomes Best Broker Eastern Europe and Central Asia! Our awards list is growing and we are happy to let you know that OctaFX received two more prestigious awards from the leading experts in this rapidly changing industry! Now we are officially recognized as Best Broker Eastern Europe and Best Broker Central Asia by Forex Report magazine! Forex Report magazine is Forex Industry’s number one resource providing traders with the most accurate information on trading tools, strategies, and leading brokerage companies. Each year, Forex Report’s dedicated research team analyses and assesses brokers, traders, and the latest technologies available on the market. Forex Report Awards celebrate industry innovators, those that provide the best in customer service, and those at the forefront of one of the world’s most competitive markets, and we are happy to be an essential part of the winners list. OctaFX team would like to thank Forex Report team for this high evaluation of our daily efforts of becoming the best in the industry. However, first and foremost, we would like to express our gratitude to our invaluable clients - you are a source of inspiration that pushes us forward, making our path filled with achievements! Thank you for all the support, it helps us target new outstanding aims to make your trading experience more convenient. You can find the full list of our awards here. Stay tuned for more news from your multi-awarded Forex broker! Thank you for choosing OctaFX as your top-notch Forex Broker.

USD/CAD spikes to 1-month highs after BoC decision FXStreet (Córdoba) - The USD/CAD spiked to fresh 1-month highs after the Bank of Canada decided to leave the overnight rate unchanged at 1.0% but issued a quite dovish statement. BoC said it is neutral with respect to the timing and direction of the next change to the policy rate and downplayed CPI rise as temporary The USD/CAD jumped to 1.0793, its highest level since June 20, but failed to sustain gains and pulled back instead. At time of writing, the pair is trading at 1.0765, right where it was before the release. Attention now turns toBoC Governor Poloz, who will hold a press conference at 15:15GMT. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 16, 2014 OctaFX.Com News Updates

United States EIA Crude Oil Stocks change came in at -7.525M below forecasts (-2.1M) in July 11 Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 16, 2014 OctaFX.Com News Updates

AUD/USD extiende rebote desde el importante 0.9320/25 FXStreet (San Francisco) - Jamie Coleman de FXBeat afirmó recientemente que el 0.9320/25 es un enorme nivel fundamental para el AUD/USD. Y eso, el par lo probó durante la noche con el consiguiente rebote al 0.9360 actual. "Ese es el 61,8% del último rally de 0.9210/0.9505 y por debajo de ese nivel la multitud de complacientes 'carry traders' comenzarán a ponerse nerviosos", afirma Coleman. Actualmente, el AUD/USD se cotiza a 0.9359, baja 0.11% en el día, después de haber publicado un máximo diario en 0.9377 y mínimo a 0.9329. AUD/USD sentimiento Si par cae por debajo de 0.9320, el mercado vería una liquidación en el par. Los próximos soportes serían 0.9300, 0.9250 y 0.9210. Por el lado positivo, 0.9375, 0.9400 y 0.9420 son resistencias. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 16, 2014 OctaFX.Com News Updates

United States Industrial Production (MoM) came in at 0.2%, below expectations (0.4%) in June Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 16, 2014 OctaFX.Com News Updates

ECB: Whatever it takes - RBS FXStreet (Guatemala) - Strategists at RBS explained that one plausible explanation for the post 'whatever it takes' appreciation is a shift in the euro FX risk premium. Key Quotes: "The excess compensation that investors required to hold euro denominated assets given the potential returns in bad states of the world. That OMT-induced compression in the risk premium, and the corresponding move in the currency, is likely to persist". "The underlying shift in beliefs would likely have a material impact on the output gap and inflation through other channels – largely pushing in the opposite direction – via a shift in animal spirits, the virtuous circle of positive feedback through the banking sector, and even healing some of the supply side scar of the financial crisis". "However, much of the full price level effect from exchange rate pass through into consumer prices could be in the data before some of these other transmission channels start to kick in". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 15, 2014 OctaFX.Com News Updates

EUR/USD consolidates below 1.3580 FXStreet (Córdoba) - The EUR/USD is having on Tuesday the worst day in week and is headed toward the lowest daily close since June 18. A stronger US dollar pushed the pair to the downside. On American hours bottomed at 1.3560 then rebounded but the recovery was capped by 1.3580. Currently, near Wall Street closing bell the EUR/USD trades at 1.3565, 50 pips below the price it had at the beginning of the day. EUR/USD breaking range After moving during several days in a small trading range the EUR/USD broke a short term support around 1.3580 and lost momentum. Downside pressure is still seen in the pair. “In the 4 hours chart the pair presents a strong downward momentum which support some continued slide towards immediate short term support at 1.3535”, says Valeria Bednarik, Chief Analyst at FXStreet. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 15, 2014 OctaFX.Com News Updates

USD/CAD manic conditions with BoC approaching - TD Securities FXStreet (Guatemala) - Despite the rally we have seen in funds on the back of Yellen today, it is still worth noting that Shaun Osbourne, Chief FX Strategist at TD Securities explained that Wednesday’s BoC policy announcement looms quite large over the market, there is even less incentive to push the CAD around independently of the big dollar's broader lead today. Key Quotes: “Note that the crude is one of the stronger drivers of the CAD potentially, according to our correlation matrix; weakness in WTI below USD100 may add incremental pressure on the CAD." "We expect no change in BoC policy but there is clearly some anticipation building up in the market that Governor Poloz can tilt the policy outlook a little more dovishly as the recent pick-up in inflation is likely to abate and last week’s Canadian employment data clearly highlighted the fact that the Canadian jobs market is under-performing." "We think the extended drop in funds since March essentially reflects a positioning overhang that had to be corrected after the CAD sell-off that developed through the early part of the year failed to extend. IMM data suggest that the CAD short-covering among speculative accounts is now largely complete." "Market positioning is more neutral now and we do not think there are strong incentives to build CAD long positions aggressively considering the domestic backdrop. The bounce in USD/CAD since Friday’s weak jobs report may signal the resumption of a broadly softer CAD trend." "Technically, there are strong signals in USD/CAD (and supporting evidence on some of the major CAD crosses) that the stronger CAD trend that has prevailed in the past few months is at a turning point finally. USD/CAD has turned at an important technical juncture—major trend and retracement support in the low/mid 1.06 area." "Price signals on the short and medium-term charts are bullish. We expect firm support on modest dips —high 1.06s— from here and for USD/CAD to push back to the low 1.08 area soon. Gains through here (40-day MA at 1.0825 currently) would be more obviously positive for the USD/CAD outlook." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 15, 2014 OctaFX.Com News Updates

Yellen defends current Fed policy Fed head Janet Yellen, who testified on Tuesday before the US Senate Banking Committee, suggested that the US economic recovery was not complete yet, despite recent improvements, therefore a "high degree" of accommodation remained appropriate. Yellen pointed to the considerable slack still evident on the US labor market. "Too many Americans remain unemployed," she stressed adding that in the meantime inflation remained below the 2% target. She signaled that if the employment situation improved at a quicker pace than currently estimated, rate hikes could come earlier than projected by the FOMC at the moment, but still she saw rates remaining at low levels long after the withdrawal of QE. The Fed chief also expressed concern about the recovery on the US housing market, which had shown little progress this year. FOMC's growth, unemployment and inflation forecasts are surrounded by "considerable uncertainty," Yellen said. In the Q&A part of the testimony the Fed chief admitted that the recovery on the labor market, although slow, was evident and that many economic indicators were improving substantially. The decline in Q1 GDP was most probably due to transitory factors, she suggested. Nevertheless, she wouldn't be more specific about the timing of the first rate hike, as it depended on further progress. The US economy has to be seen on a solid trajectory before rates start rising, Yellen stressed. Jamie Coleman from FXBeat believes that this sums up Yellen's stance: "She would rather see the economy overheat a little than derail a rebound prematurely as the Fed has done twice since the financial crisis." The EUR/USD began to move lower amid jitters minutes before the testimony of Fed Chair Yellen before the US Congress, but bounced before hitting daily lows as the testimony gets underway. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 15, 2014 OctaFX.Com News Updates

Fed's Yellen: Rate hikes may start earlier if labor market recovery quickens FXStreet (Łódź) - Janet Yellen suggests that the Fed could start raising rates more quickly than currently expected if the US labor market improves more quickly than projected. • Slack in the labor market still lingers. • Yellen signals that rates should stay low for a long period post- QE, the end of which is planned for October. • Equity and real-estate appears to be normally valued, while high yield markets appear stretched. • FOMC's growth, unemployment and inflation forecasts are surrounded by "considerable uncertainty," Yellen says. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 15, 2014 OctaFX.Com News Updates

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USD/JPY held up at 101.60 resistance FXStreet (Guatemala) - USD/JPY is trading at 101.54, up 0.31% on the day, having posted a daily high at 101.64 and low at 101.32. JPY is soft since Friday’s close and broke up from the sideways channel, scoring some 20 pips above the 101.40 channel resistance. Camilla Sutton, Chief FX Strategist at Scotiabank explained that Japans industrial production data (rising 0.7%m/m and 1.0% y/y) was more encouraging than last week’s slew of disappointing data. “However, leading into the BoJ meeting, concerns are rising that the central bank’s forecasts will be revised lower and the tone will provide a hint of dovishness." For now, the 101.64 is holding the pair up ahead of advances to 101.74 and the 20 SMA. USD/JPY Levels With spot trading at 101.58, we can see next resistance ahead at 101.64 (Daily High), 101.70 (Hourly 200 SMA), 101.74 (Daily 20 SMA), 101.86 (Weekly High) and 101.88 (Daily 200 SMA). Support below can be found at 101.56 (Daily Classic R3), 101.52 (Weekly Classic PP), 101.48 (Daily Classic R2), 101.47 (Hourly 100 SMA) and 101.47 (Hourly 20 EMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 14, 2014 OctaFX.Com News Updates

EUR/USD steady on same old, same old Draghi FXStreet (Guatemala) - EUR/USD is trading at 1.3611, up 0.03% on the day, having posted a daily high at 1.3641 and low at 1.3598. EUR/USD has been consolidating the downside from 1.3641 and markets have been keeping an ear on Draghi who has been speaking. Much of what he has said has already been priced in from previous commentary at previous ECB press conferences, such as rates to stay at present or lower levels for extended period of time. The EUR/USD has thus remained steady throughout the speech. EUR/USD Levels Spot is presently trading at 1.3611, and next resistance can be seen at 1.3612 (Weekly Classic PP), 1.3615 (Hourly 100 SMA), 1.3616 (Hourly 20 EMA), 1.3617 (Hourly 200 SMA) and 1.3621 (Daily 20 SMA). Next support to the downside can be found at 1.3608 (Daily Classic PP), 1.3605 (Weekly Low), 1.3599 (Daily Open), 1.3598 (Daily Low) and 1.3592 (Yesterday's Low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 14, 2014 OctaFX.Com News Updates

EUR/USD ranges, bear are nervous - Scotiabank FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained they expect EUR to be comfortable range trading between 1.35 and 1.37 until there is a catalyst to force it lower. Key Quotes: “This week, inflation, trade and ECB commentary by President Draghi, Coeure and Noyer will prove the highlights. The CFTC EUR position stabilized this week at a net short of ‐$10bn, the failure for it to build further is a warning signal that bears are once again growing nervous." "EUR/USD short‐term technicals: mixed—with most signals and spot suggesting EUR is range bound, likely between 1.35 and 1.37. Near term support lies at the recent 1.3576 low; while resistance comes in at the 200‐day MA at 1.3678." “We hold a year‐end forecast of 1.30." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 14, 2014 OctaFX.Com News Updates

EZ industrial outputs disappoint - BBH FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted the disappointments from the EZ industrial outputs. Key Quotes "Four euro area countries reported industrial output figures and they all disappointed with some declines in excess of 1% in May. This prepared the market for today's news a 1.1% decline on the aggregate level. It more than offsets the 0.7% (was 0.8% before the revision) gain in April and is the second decline in three months." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 14, 2014 OctaFX.Com News Updates

EUR/JPY finishing on a bearish note FXStreet (Guatemala) - EUR/JPY is trading at 137.81, down -0.02% on the day, having posted a daily high at 138.08 and low at 137.68. EUR/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish into the close. We now await the BoJ next week and a speech from Draghi on Monday. Looking to a daily chart, we see that RSI is neutral at 37.53 with some room to the downside to go if traders be so inclined. EUR/JPY Levels With spot trading at 137.85, we can see next resistance ahead at 137.91 (Weekly Low), 137.91 (Daily Open), 138.04 (Daily Classic PP), 138.08 (Daily High) and 138.13 (Weekly Classic S1). Support below can be found at 137.84 (Hourly 20 EMA), 137.83 (Month OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 12, 2014 OctaFX.Com News Updates

Session Recap: Quiet day but the wild Canadian FXStreet (San Francisco) - Majors traded inside small ranges on Friday as investors were quiet in a summer Friday session. However, the Canadian Dollar fell strongly as unemployment rate in Canada rose to 7.1%. Germany and Netherlands ratings were affirmed including an upgrading in the Outlook of Holland. The USD/CAD jumped 100 pips from 1.0630 to peak to 1.0735, highest since June 25. The pair finally close at 1.0725. "A medium-term bottom has been established with today's close above 1.07," comments Jamie Coleman from FXBeat. "Jawboning from Stevens sent AUD to 0.9377 from 0.9400 before we stabilized near 0.9388 at the close." Main headlines in the American session Canada: Unemployment rate (Jun) up to 7.1% S&P affirms Germany’s sovereign rating with a stable outlook Fitch revises Netherlands outlook to stable; ratings affirmed at AAA US stocks closed Friday with gains but lower in the week OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 12, 2014 OctaFX.Com News Updates

EUR/USD coming with a bearish bias - BTMU FXStreet (Guatemala) - FX Strategists at the Bank of Tokyo Mitsubishi UFJ notes the conditions surrounding the EUR/USD and key events that are to take place. Key Quotes "We had a bearish bias last week in respect to the strong US employment report and a low of 1.3576 was recorded before EUR/USD rebounded to today’s high of 1.3651. We are inclined to stick with the bearish bias again for the week ahead given spot today is already lower from today’s high in response to the news that an entity in Portugal’s Espirito Santo Financial Group missed some short-term debt repayments. The 10-year Portuguese government bond yield spread over Germany is 47bps higher this week and this could have further to play out as we move through the week ahead given the bank within this financial group is Portugal’s largest lender." "The key event outside of Europe next week will of course be the semi-annual testimony to Congress by Chair Yellen, starting in the House on 15th July at 1500. We are wary of claiming that next week is the week when Yellen turns hawkish – that’s unlikely, but at the same time it seems reasonable to assume that Yellen will be more forthcoming over labour market improvement and inflation starting to move higher. There are no major economic data releases from the euro-zone over the coming week but ECB President Draghi will give testimony to the Committee of Economic and Monetary Affairs of the European Parliament at 1800 BST on Monday." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 10, 2014 OctaFX.Com News Updates