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EUR/USD regains 1.3600 FXStreet (Edinburgh) - The single currency managed to bounce off session lows in sub-1.3580 levels and is now pushing the EUR/USD to retake the key 1.3600 handle. EUR/USD propped up by EMU data Spot found much needed oxygen after the investor’s confidence tracked by the Sentix index in the euro area surprised markets to the upside for the month of July, advancing to 10.1 vs. 7.5 expected and up from June’s 8.5. At the moment the pair is partially trimming losses from recent peaks near 1.3700 the figure, intensified after the better Payrolls numbers. “EUR is unwinding from oversold conditions and further sustained down-move is unlikely. Allow for a test of 1.3570 before a recovery towards 1.3600 can be expected”, observed Quek Ser Leang, Market Strategist at UOB Group. EUR/USD levels to watch As of writing the pair is up 0.02% at 1.3598 with the next resistance at 1.3611 (high Jul.4) followed by 1.3664 (high Jul.3) and finally 1.3677 (200-d MA). On the flip side, a breakdown of 1.3576 (low Jun.26) would open the door to 1.3574 (low Jun.23) and then 1.3565 (low Jun.20). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 07, 2014 OctaFX.Com News Updates

BoC's balance of opinion on future sales to rise to 32 in Q2 - TD Securities Annette Beacher, Head of Asia-Pacific Research at TD Securities believes that Bank of Canada's, due out later today, will offer a forecast on future sales suggesting a rise to +32 from +27. Key quotes "We expect the balance of opinion on future sales to rise to +32 from +27although the focus will be on the evolution of inflation expectations and the potential implications for the July 16 BoC Fixed Announcement Date." "Inflation expectations are poised to move higher due to the acceleration in core CPI through the second quarter." "June Ivey PMI (TDS: +53, market: +52.0) and building permits (market: +2.0% m/m) will take a backseat to the BOS." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 07, 2014 OctaFX.Com News Updates

Austria Wholesale Prices n.s.a (MoM) unchanged at 0.1% in June Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 07, 2014 OctaFX.Com News Updates

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EUR/USD year end target 1.3000 - BAML FXStreet (Guatemala) - Team BAML explained that their forecast for EUR/USD at year end is 1.30, a move of less than 5%. Key Quotes " This seems eminently achievable (25% of FX forecasters agree), but options imply only a 10% probability that it will occur." "This probability seems very low yet by most measures the options are fair or even expensive so how can this be? This simple example illustrates how extreme low volatility creates a disconnect between perception and pricing of what constitutes a tail event." "This phenomenon is particularly pronounced for currencies because they are a low volatility asset class. Currencies are not historically close to equilibrium levels, so that the size of adjustments that a tail event would produce should be at least comparable to prior instances. Subdued global inflation suggests that a tail event is unlikely, but almost by definition tail events always seem unlikely, so how can we prepare in the most cost efficient manner?" OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 04, 2014 OctaFX.Com News Updates

ECB watching exchnage rate with "great attention"- BBH FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted that the euro has shed a big figure against the dollar this week after it failed to establish a foothold above the 1.3700. Key Quotes: "There were no substantial near-term policy developments from the ECB yesterday. The focus was on the announcements of lengthening the time between meetings to six weeks and the eventual release of minutes from the meetings. Last month Draghi was understood to say that interest rate policy had been exhausted, but today he seemed to backtrack a bit." "He said that a technical adjustment could not be ruled out. It is not clear what this means, but it could be a cut in the corridor by bringing the marginal lending rate down." "On the exchange rate, Draghi shed little fresh light. It is not a policy target, but it is an important input into inflation." "He did seem a bit frustrated with the euro's resilience despite the rate cuts and other measures. He said he was watching the exchange rate with "great attention."" OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 04, 2014 OctaFX.Com News Updates

GBP/USD closing London in mid 1.71 handle FXStreet (Guatemala) - GBP/USD is trading at 1.7149, down -0.03% on the day, having posted a daily high at 1.7181 and low at 1.7131. GBP/USD was taken out in mid point London after posting the high for the year 1.7181. It is settled in at and around 1.7150 as we approach London closing which leaves the long term and committed bulls in for action next week and room for those who cashed in to re-enter if their sights are still set on the psychological 1.72 handle. The main risk events ahead for the pair will be the FOMC minutes and then the BoE next week. Looking to a daily chart, we see that RSI is neutral at 71.82. GBP/USD Levels With spot trading at 1.7150, we can see next resistance ahead at 1.7151 (Hourly 20 EMA), 1.7155 (Daily Open), 1.7166 (Monthly High), (Weekly High) and (Annual High). Support below can be found at 1.7142 (Daily Classic PP), 1.7141 (Hourly 100 SMA), 1.7131 (Daily Low), 1.7114 (Daily Classic S1) and 1.7114(Weekly Classic R2). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 04, 2014 OctaFX.Com News Updates

AUD/USD sitting ugly mid 0.93 handle FXStreet (Guatemala) - AUD/USD is trading at 0.9354, up 0.07% on the day, having posted a daily high at 0.9369 and low at 0.9343. AUD/USD has remained within a tight range since finding a footing yesterday after its collapse based upon Stevens. There was no data overnight in Asia and we now move into July 4th holidays so we will need to wait until next week to see what traders will do with this pair now ahead of the FOMC minutes. We did have the RBA Head of Financial Stability, Luci Ellis speaking last night on ‘Reforming and Financing Post-crisis Future’. But this speech was more observational with no market impact. Meanwhile, the FXStreet Trend Index is strongly bearish still. RSI is in neutral territory at 55.99, up from it’s last hourly close at 40.33. Looking to a daily chart, we see that RSI is neutral at 46.53. AUD/USD Levels Current price is 0.9354, with resistance ahead at 0.9357 (Hourly 20 EMA), 0.9369 (Daily High), 0.9370 (Weekly Classic S1), 0.9374 (Daily Classic PP) and 0.9392 (Daily 20 SMA). Next support to the downside can be found at 0.9347 (Weekly Low), (Daily Open), 0.9343 (Daily Low), 0.9329 (Yesterday's Low) and 0.9315 (Weekly Classic S2). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 04, 2014 OctaFX.Com News Updates

UK Industrial Production expected to rise 0.3% in May - RBS FXStreet (Łódź) - Ross Walker, Senior UK Economist at RBS, predicts that month-on-month UK Industrial Production data, due out next Tuesday, could rise 0.3% in May. Key quotes "Industrial production rose 0.4% m/m in April, taking the y/y rate up to 3.0% from 2.5% and growth in the latest 3 months up to 1.1% from 0.7%." "The rise in April was underpinned by a 0.4% rise in manufacturing output – the fifth successive monthly rise, with a positive contribution from electricity, gas & steam being offset by declines in oil & gas and water supply." "Survey evidence has remained positive, with the PMI output balance remaining at elevated levels in May. CBI industrial trends orders and output balances were barely altered in May (at relatively buoyant levels)." "Similarly, the BoE Agents scores for manufacturing output were broadly maintained in May, with domestic activity more buoyant than the export-facing sector." "We forecast IP to rise 0.3% m/m in May, taking the y/y rate up to 3.2% and leaving the sector on course to expand by 1.0% q/q in Q2." "For manufacturing output, the risks appear skewed towards a slightly higher outturn (given the more-often-than-not drag from the energy components – in 7 of the previous 8 months)." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 04, 2014 OctaFX.Com News Updates

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USD/CAD strongly rejected at 1.0680; now at daily lows FXStreet (San Francisco) - After trying to break above highs around 1.0680, the USD/CAD was rejected at this level and launched to trade at daily lows around 1.0630. Currently, USD/CAD is trading at 1.0636, down 0.26% on the day, having posted a daily high at 1.0682 and low at 1.0633. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish. USD/CAD levels On the downside, a break below 1.0620 would expose the 1.0600 area ahead of 1.0590. On the upside, resistances are at 1.0645, 1.0680 and 1.0695. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 03, 2014 OctaFX.Com News Updates

USD/CAD strongly rejected at 1.0680; now at daily lows FXStreet (San Francisco) - After trying to break above highs around 1.0680, the USD/CAD was rejected at this level and launched to trade at daily lows around 1.0630. Currently, USD/CAD is trading at 1.0636, down 0.26% on the day, having posted a daily high at 1.0682 and low at 1.0633. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish. USD/CAD levels On the downside, a break below 1.0620 would expose the 1.0600 area ahead of 1.0590. On the upside, resistances are at 1.0645, 1.0680 and 1.0695. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 03, 2014 OctaFX.Com News Updates

USD/CAD strongly rejected at 1.0680; now at daily lows FXStreet (San Francisco) - After trying to break above highs around 1.0680, the USD/CAD was rejected at this level and launched to trade at daily lows around 1.0630. Currently, USD/CAD is trading at 1.0636, down 0.26% on the day, having posted a daily high at 1.0682 and low at 1.0633. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish. USD/CAD levels On the downside, a break below 1.0620 would expose the 1.0600 area ahead of 1.0590. On the upside, resistances are at 1.0645, 1.0680 and 1.0695. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 03, 2014 OctaFX.Com News Updates

USD/JPY extends advance to 2-week high at 102.25 The USD/JPY extended its post-NFP gains from 101.80 area and now it is testing the 102.25 level where the pair found some selling interest. Currently, USD/JPY is trading at 102.19, up 0.43% on the day, having posted a daily high at 102.30 and low at 101.75. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish. USD/JPY Sentiment "US 10 year notes are now at a 2.657% yield, up a bit less than 3 bp on the day. Earlier they rose to 2.69%, briefly," points Jamie Coleman from FXStreet. "USD/JPY may struggle to maintain its altitude if yields ease further. We trade now at 102.15 after reaching 102.26 highs earlier this morning." If the pair manages to break above 102.25, it would face resistance at 102.40 and 102.60. On the downside, supports are at 102.00, 101.75 and 101.60. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 03, 2014 OctaFX.Com News Updates

EUR/USD finds support at 1.3595, back to 1.3620 FXStreet (San Francisco) - The Euro finally found support at the 1.3600 area against the US dollar as the pair is bouncing back to trade around 1.3620. The EUR/USD fell around 55 pips from 1.3650 post US employment report to trade below the 1.3600 mark at 1.3595, lowest since June 26. Currently, EUR/USD is trading at 1.3614, down 0.33% on the day, having posted a daily high at 1.3665 and low at 1.3595. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish. EUR/USD sentiment EUR/USD is trading in consolidation mode around former support at 1.3620. If the pair manages to recover above this level, next resistances are at 1.3640 and 1.3660. On the downside, supports come at 1.3600, 1.3575 and 1.3560. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 03, 2014 OctaFX.Com News Updates

US labor market gaining momentum, but 'shadow unemployment' still severely high - BNP Paribas FXStreet (Łódź) - Alexandra Estiot, Senior Economist at BNP Paribas comments on the surprisingly strong US NFP report which showed an increase in hiring of 288K in June, saying that a momentum is definitely building, although the level of underutilization of labor remains high. Key quotes "On a 3-month average basis, job creations reached 272k in June. On a year-on-year basis, payrolls growth is a notch below 2.5 million, i.e. the highest reading since the end of 2005." "As we have argued for a long time, even if very strong over the last five months –and longer, actually, if December 2013 and January 2014 are analysed as harsh winter related weakness –this pace is still insufficient for rapidly absorbing the very high level of under-utilised labour." "What Janet Yellen recently called 'shadow unemployment' remains severely high. We can always argue about how to measure it, as the labour force participation rate definitely went down partly because of an ageing population, but its effects are clear." "Indeed, despite the rapid fall in the unemployment rate, which reached a 6-year low of 6.1% in June, average hourly earnings did not accelerate at all. In June, they gained 0.2% over the month, i.e. +2% from a year earlier, incredibly stable over the last four years." "Still, there are signs that optimism is allowed. The duration of unemployment episodes is going down. On average, they last 33.5 weeks in June, as compared with37.1 in February. This improvement is noticeable in broad measures of unemployment." "As long as wage inflation remains that subdued and the labour force participation rate does not go up again, there will be no reasons to call it a victory over mass unemployment." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 03, 2014 OctaFX.Com News Updates

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EUR/USD 1.3647 is key - Scotiabank FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank notes the conditions surrounding the EUR/USD as we are getting two sides to the story here. Key Quotes: "Yesterday, EUR reached a multi-month high, flirting with 1.37; however into the NA open it has softened, down 0.1%”. “Recent data has been mixed; the Eurozone manufacturing PMI suggest expansion but at a slower rate than expected; the flash CPI hints at a bottoming in disinflationary pressures; while today’s PPI warns of ongoing disinflationary pressures." "We expect it is the above that will shape the tone at the ECB. Last month’s actions were dramatic but it is still early to judge the impact." "Accordingly we expect a fairly cautious tone, but one the market is prepared for. For EUR this implies it should be comfortable trading in a broad range of 1.35 to 1.3750." "EUR/USD short-term technicals: bullish—most studies warn of upside momentum; however a break and close below Monday’s open of 1.3647 would warn of fading upside pressure. Support lies at 1.3600; while resistance comes in at the 100-day MA at 1.3740." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 02, 2014 OctaFX.Com News Updates

EUR/USD comfortable between 1.3500 - 1.3750- Scotiabank FXStreet (Córdoba) - Camilla Sutton, analyst at Scotiabank commented that it is too early tojudge the impact of latest ECB policies and so the bank would probably use a cautious tone, leaving the EUR/USD comfortable between 1.3500 and 1.3750. Key Quotes “Yesterday, EUR reached a multi‐month high, flirting with 1.37; however into the NA open it has softened, down 0.1%. Recent data has been mixed; the Eurozone manufacturing PMI suggest expansion but at a slower rate than expected; the flash CPI hints at a bottoming in disinflantionary pressures; while today’s PPI warns of ongoing disinflationary pressures”. “We expect it is the above that will shape the tone at the ECB. Last month’s actions were dramatic but it is still early to judge the impact. Accordingly we expect a fairly cautious tone, but one the market is prepared for. For EUR this implies it should be comfortable trading in a broad range of 1.35 to 1.3750”. “EUR/USD short‐term technicals: bullish—most studies warn of upside momentum; however a break and close below Monday’s open of 1.3647 would warn of fading upside pressure. Support lies at 1.3600; while resistance comes in at the 100‐day MA at 1.3740”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 02, 2014 OctaFX.Com News Updates

Draghi expected to signal 'wait and see' stance at tomorrow's press conference - FXStreet FXStreet (Łódź) - FXStreet Analyst Jamie Coleman suggests that ECB chief Mario Draghi will focus on two main themes during tomorrow's post-decision press conference: ECB's need to assess the impact of last month's measures and the availability of additional policy tools. Key quotes "Draghi will stress that the programs announced in June have not yet been fully implemented. TLTROs won't even launch until September. ABS market rejuvenation is a long-term project and has barely begun." "'We have additional tools.' He won't go into much detail, frankly because there is no there there. Draghi will bluff, however, saying the governing council stands united if additional easing measures are needed." "There are outside risks that since the euro heads into the July meeting on firmer footing than it entered the June meeting, he could attempt to talk down the currency. I put the odds of that at about 1-in-3. Perhaps he will repeat that 'brutal' FX moves are unwelcome, as his predecessor Trichet did in 2004 and again in 2007." "The risk for the ECB is that the market determines that it is truly out of bullets and pushes the euro even higher in an effort to provoke a policy response. Markets love to inflict pain, and that would be a very good way to do it." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 02, 2014 OctaFX.Com News Updates

United States EIA Crude Oil Stocks change fell from previous 1.742M to -3.155M in June 27 Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 02, 2014 OctaFX.Com News Updates

Italian PM expresses faith in EU institutions FXStreet (Łódż) - Italian Prime Minister Matteo Renzi, who spoke before the European Parliament in Strasbourg on Wednesday, expressed his faith in EU institutions, adding however that change is necessary as well. He suggested that if Britain decided to exit the EU, it would be a great loss. Moreover, Renzi urged the MEPs to "bring back confidence and hope to the EU." On July 1 Italy took over the six-month EU presidency from Greece. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 02, 2014 OctaFX.Com News Updates

EUR/NOK remains sidelined – Danske Bank FXStreet (Edinburgh) - The EUR/NOK would extend its sideline pattern at current levels, as observed by Anders Fischer, Analyst at Danske Bank. Key Quotes “EUR/NOK continued to trade higher yesterday as Norwegian manufacturing PMI in contrast to consensus expectations did not rebound following the decline in May, increasing the downside risk for the manufacturing sector”. “However, we still believe that the Norwegian economy will not weaken and in general we think that the market’s pricing of Norges Bank has become too dovish”. “However, at the same time we also acknowledge that there is a risk that the market’s appetite for NOK could remain low for a while – also after the Riksbank meeting tomorrow”. “Hence, we still prefer to stay sidelined in EUR/NOK, although from a fundamental point of view we see value in being short EUR/NOK at the current level”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 02, 2014 OctaFX.Com News Updates

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GBP/JPY consolidates highs around 174.00 FXStreet (San Francisco) - The GBP/JPY is joining the sterling strength this week and after climbing 70 pips from 173.40 to nearly 6 month highs at 174.20 in the European morning, the pair is now trading in consolidation mode around 174.00. Currently, GBP/JPY is trading at 174.06, up 0.44% on the day, having posted a daily high at 174.25 and low at 173.27. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish. GBP/JPY levels If the pair holds above 174.00, the GBP/JPY would face resistances at 174.50 and 175.00. On the downside, 173.90, 173.40 and 173.10 are supports. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 01, 2014 OctaFX.Com News Updates