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Registration in “FBS Pro” contest has started! Please, be informed that registration in “FBS Pro”contest is now open! We invite you to take part in the contest and try your hand in fighting for real money prizes with the best traders in the world. This is a real chance to become a professional together with winning real funds. You can register in the contest here. Contest period: 27.01.2015 - 27.02.2015

FBS company received new prestigious award at the end of 2014! We are glad to tell you that a festive event took place in Sultan Hotel Jakarta (Jakarta, Indonesia) on November 28, 2014: Indonesia Corporate Platinum Achievement 2014 - 2015. Over 250 people attended the ceremony, and, in a festive atmosphere, FBS company received the “Leader in providing high-quality services in Indonesia” award. This is a great joy for FBS team! The new prestigious award is a tangible evidence that FBS services have been truly appreciated by the Indonesian people. The event was a great success, numerous organizations from across Indonesia took part in it. FBS was the only foreign company to receive this important award! We are very proud that customer services, FBS bonuses and special offers, services of funds deposit and withdrawal have been so highly recognized by the Indonesian clients. The document of award granting was signed by two country’s ministers – Coordinating Economic Minister of the Republic of Indonesia Mr DR. Sofyan A. Djalil, М., MALD and Coordinating Minister for Human Development and Culture of the Republic of Indonesia Ms Puan Maharani. This proves that FBS company has been recognized on the highest level in Indonesia. We are endlessly thankful to all our clients and we sincerely believe that this award is a telltale sign that work with FBS will bring thriving and success to the Indonesian people and to all our clients.

FBS company has forwarded funds gathered during the “Marhaban Ya Ramadhan” promotion to charity organizations! We are glad to tell you about the logical conclusion of our charity promotion “Marhaban Ya Ramadhan”! Our representatives in Indonesia, Malaysia and Arab countries have organized delivery of funds, necessities and presents to those in need. With all our heart, we would like to thank our clients that participated in the charity campaign during the holy month of Ramadan! Thank you for your contribution to a good cause! It is due to your help that faces of thousands of people have lightened with sincere thankful smiles! In total, we have gathered over $ 56 939 during the campaign! The funds have been allocated between four organizations: children’s fund “Positive Shelter Home“ (Malaysia), children’s fund “Hamba” (Indonesia), humanitarian fund “Food bank” (Egypt), relief fund “LifeMakers” (Jordan). Today, we would like to share a photo report with you about funds delivery in Indonesia and Malaysia where our official representatives headed personally. We also present you the documents from Egypt and Jordan, confirming funds transfer to the two big funds named above. “Food bank” and “LifeMakers” have received all gathered funds from us in full so that the organizations representatives could choose the best way to aid the numerous beneficiaries themselves. For Indonesia and Malaysia, we have chosen a different way: we have shared not only funds and gifts, but also emotions, having organized a small celebration for the two children’s funds, “Positive Shelter Home” and “Hamba”. This year, FBS company was gathering funds during the month of Ramadan. In future, we are planning to carry out new charity campaigns. Only at FBS, you have an opportunity to not simply earn good profit, but also help people! Let’s do good together! Stay with us! Be successful with FBS!

On October 31 and November 1, FBS company participated in the international exhibition Moscow Forex Expo 2014, acting as its Gold Sponsor. Today we will gladly sum it up and share the most interesting moments of the Expo with you! 2014 has become a year of achievements for FBS. The deserved result of the work done is extension of the prestigious awards list by three more victories: • Best Forex Broker in Asia 2014 • Best Forex Broker in the Middle East 2014 • Best Analytical Portal 2014 FBS truly appreciates every vote cast for the company and thanks everyone who has highly esteemed our effort to be the best for our traders and partners! Another important reward for the company is incredible interest of the exhibition visitors towards FBS. The company stand has become a real center of attention. FBS specialists gladly answered the visitors questions, told them about new improved trading conditions, beneficial bonuses, as well as about the most profitable and safe trading strategies. All attenders were offered to crack the safe with valuable prizes from FBS: about 50 gadgets and over 100 branded gifs were awarded within two days. In the meantime, the workshop of the company analysts has gathered a full room of beginner and professional traders. We were unchangeably glad to have an opportunity to communicate with our clients face-to-face and again confirm our leadership in such big regions as Asia and the Middle East. See you at future international financial events! See full photo report

FBS Auto Cup Promo! Take part in a race for a dream-car! FBS announces a grand drawing of three fabulous cars! For the first time on Forex – impressive prizes: Porsche Panamera, Mercedes CLS, and Range Rover Evoque! One of these stunning, beautiful, high-power, classy vehicles can be yours for real! It is incredible! We start on September 22, 2014. All the participants are on an equal footing – each FBS client has a chance to win a luxurious car! There are no restrictions! FBS traders deserve not only to work with the best broker, but also to own a fancy car! This is a symbol of success and a living of your dream! To join FBS Auto Cup, it is necessary to deposit 500 USD or more (one-time or in parts) to your trading account and trade 3 lots. The more accounts that meet these requirements you have, the higher your chances are! Just like a race, FBS Contest will be thrilling. No need to wait long – the day of prize drawing is coming very soon! On February 27, 2015, in honor of FBS Birthday, we will determine the happy winners.

The FBS Company won the prize "The Best Broker in Asia 2014". The leadership was approved the fourth time in a row! We would proudly like to inform you about our new achievement as the prestigious Forex Report Awards from World Finance - «Best Broker in Southeast Asia in 2014"! The award was presented to the company for the fourth time that makes the success of FBS almost unattainable! The Company which celebrated its fifth anniversary in this year has been receiving such a respected award from the beginning of its work. That it is unbelievable! The official authorities of the Company were invited on receiving the award ceremony in London. After the ceremony the organizers interviewed the head of the analytical department of the FBS leadership in Asia and prospects of the company. During this conversation, our expert also answered the questions and gave practical pieces of advice for all professional traders. Undoubtedly FBS gained great popularity and excellent reputation worldwide, especially in Asia. And every year we continue to move further in this direction - to expand our presence in different regions, to conduct seminars and participate in major events. We remain committed to our principle of focus on customers and individual approach. This year also was marked by the opening of new offices and representatives of FBS. Nevertheless, we are not going to stop there! And this is one of the main reasons why the year after year FBS increases its level and consistently receives prestigious awards. We are qualifying many different promotions for our clients and strife for making out service the ace of aces. Annually a competent jury of the special-purpose publication the Forex Report selects the best company of the year based on analyzing the traders’ voices and brokers work on a number of objective criteria. The Forex Report is the draft of the established financial institution the World Finance. We would like to thank our clients and partners for their trust! This is our main reward! FBS awards: http://www.fbs.com/awards Award presentation:

We wish you good luck in the contest!

There are only 3 days left until the end of the registration to FBS Pro Demo Contest! Participate, sharpen your trading skills and get money prizes! You can register in the contest here. The contest period is: 09.06.2014 (12:00:00 GMT+03:00) - 09.07.2014 (16:00:00 GMT+03:00)

April 10: Asian session US dollar hit a 5-month low versus a basket of currencies after the Fed’s last meeting minutes undercut prospects for an increase in interest rates. EUR/USD slid to $1.3845 after reaching $1.3870 earlier today. GBP/USD returned to the opening level at $1.3890 after reaching $1.6820 earlier today. USD/JPY is consolidating in the 102.15/101.60 area. Today the greenback fell versus yen. Demand for yen as a safe haven increased after China reported an unexpected drop in imports and exports by 11.3% and 6.6% respectively from the previous year. Commodity currencies faced sellers in Asia. AUD/USD first rose to $0.9440 on better-than-expected labor market data. Unemployment rate fell to 5.8% (forecast: 6.1%), while the economy added 18K jobs (forecast: 7.3K, prior: 48.2K). However, news from China increased market concerns, pulling the Aussie down into the $0.9415 area. NZD/USD followed the AUD, first hitting $0.8745 and then retracing to $0.8715. NZ manufacturing expanded last month to the highest level since July (58.4 vs. prior 56.5). Gold extended the upside to $1317. FOMC minutes: bearish for USD The US dollar fell against most major currencies on Wednesday after the FOMC minutes from the March 19 meeting showed no signs of higher interest rates ahead. As a result, the USD index weakened to the pre-meeting levels. After the meeting last month, Fed Chairwoman Janet Yellen said the central bank would consider raising interest rates 6-month after the end of QE. However, not all the Fed’s members share her optimistic views. Minutes showed Committee members discussed keeping interest rates low for a longer period of time even after employment and inflation reaches targeted levels. Fed’s inflation target lies at 2%, in February 2014 it came at 1.1%. Deutsche Bank: "With the mention of inflation risks and no confirmation of the 6-month story from Yellen's comments, this tends to lean on the dovish side. And the dovish side is slightly negative for the dollar. Still, the Fed minutes' impact on the dollar is likely to be limited, because the US currency has already weakened considerably since Friday's jobs report. Bank of England: policy unchanged As expected, the Bank of England has left policy unchanged with the benchmark rate at 0.5% and the size of the asset purchase program at 375B. There is no statement in today’s meeting, prompting investors to follow the more ample risk-on trends ahead of the US data later today. GBP/USD is trading in the $1.6795/70 area. T. Norkina: trade signals (Apr. 10) Tatiana Norkina, FBS analyst EUR/USD: buy – 1.3820; stop — 1.3790; target1 — 1.3875; target2 — 1.3900. USD/JPY: buy – 101.40; stop — 101.20; target1 — 102.10; target2 — 102.45. Trade signals from Danske Bank (Apr.10) EUR/USD: Buy at $1.3840 with a target of $1.3948 and a stop at $1.3777 USD/JPY: Short at 102.05 with a target of 101.15 and a stop at 102.30 GBP/USD: Revised buy at 1.6765 with a target of 1.6917 and a stop at 1.6715 USD/CHF: Short at 0.8790 with a target of 0.8715 and a stop at 0.8847 AUD/USD: Long at 0.9219 with a target of 0.9544 and a stop at 0.9369 USD/CAD: Look to sell

Please, be informed that registration in “FBS Pro” Demo contest is now open! We invite you to take part in the contest and try your hand in fighting for real money prizes with the best traders in the world. This is a real chance to become a professional together with winning real funds. Participate, sharpen your trading skills and get money prizes! The contest period is: 21.04.2014 (12:00:00 GMT+03:00) - 21.05.2014 (16:00:00 GMT+03:00) FBS sincerely wishes you good luck!

JP Morgan: short on EUR/USD JP Morgan technical strategists hold a short position on EUR/USD since mid-March with a stop at $1.3950, an initial target at $1.3130, and a secondary target at $1.2900. In a short term analysts see a chance to test the $1.3820 resistance area (61.8% Fibo from the 2011-2012 decline). Clear break above here would weaken the bearish view. Decline below $1.3610 would fully confirm the bearish dominance over the pair. Chart. H4 EUR/USD

USD/CAD reached important support USD/CAD slid to 1.0912 yesterday approaching the 100-day MA and the bottom of the daily Ichimoku Cloud at 1.0900. Canadian dollar gained on Tuesday as the Bank of Japan maintained monetary stimulus and the loss of separatist party at the Quebec election. CAD strengthened since Friday when Canadian employment posted the biggest jump in 7 months, while the unemployment rate in Canada fell from 7 to 6.9%. Yesterday, however, Canada released a bunch of weaker-than-expected housing data. USD/CAD recovered today to 1.0942. There’s bullish divergence at H4 MACD. Analysts at SEB Bank say that to ease the bearish pressure USD/CAD needs to move above 1.0957 and 1.1002, but also over 1.1078/95 is prerequisite to make believe that the correction lower intraday has passed its lowest point. Chart. Daily USD/CAD

AUD/USD: waiting for labor data Kira Iukhtenko, analyst The Australian dollar pushed to its highest level in 5 months on Wednesday on a fresh block of strong economic data. AUD/USD extended the bullish recovery, posting highs near $0.9390 in Asian trade. The number of Australia home loan approvals rose at a highest rate since September in February (+2.3%). Record low interest rates continue supporting mortgage lending in the country. What’s more, the Australian April consumer confidence rose slightly, though remains below the key 100-point level. Aussie’s upside remains contained by the $0.9400 mark ahead of the important employment data release on Thursday. Unemployment rate is forecasted to increase by 0.1% to 6.1% in March, while the economy is expected to add only 7.3K new jobs (February: + 47.3K). JP Morgan economists expect only a 5K employment increase for the past month. Technically, the pair is moving in line with an inverse head-and-shoulders formation (neckline at $0.9080). Aussie has recently broken above the 55-week MA and 61.8% Fibo from the Oct.-Jan. downtrend. Our medium target lies at $0.9500 (78.6% Fibo, bottom of the weekly bearish Ichimoku). Note that the pair is overbought; there is a MACD divergence on the H4 chart. Tomorrow’s labor market data will be a good reason for the pair to correct lower. Strong support lies around $0.9200/20. Chart. H4 AUD/USD

USD/JPY is under pressure By Mark Jensen USD/JPY remains in a smooth upwards channel. Yesterday the pair slid to its lower border in the 101.50 area as the Bank of the Japan left policy unchanged. Judging from the regulator’s rhetoric, its policy will remain unchanged for a while. This is increasing pressure on USD/JPY to sink lower, to the 200-day MA and February low at 100.75. The pair still hasn’t reached the lower daily Bollinger band. Daily MACD’s approaching 0. Today there was a bullish hammer at H4 and the greenback recovered to the bottom of the daily Cloud in the 102 area. Even if the channel stays, we may see more action in the 102.50 (200-period MA)/101.50 area. As dollar is still at the oversold levels at this timeframe we will sell on the increase towards 102.50 targeting once again the channel’s bottom. Chart. Daily USD/JPY Chart. H4 USD/JPY

April 9: Asian session Asian shares rose on Wednesday after Wall Street reversed a 3-day losing streak, but Japanese stocks dropped sharply after yen surged on fading hopes of near-term stimulus from the Bank of Japan. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.9%. Nikkei fell by 1.9%. USD/JPY edged up to 102.00 after it tested 100.54 yesterday. Commodity currencies extend the upside on Wednesday. AUD/USD touched $0.9390 in Asia (the highest level since Nov. 2013). Westpac consumer sentiment moved higher for the first time in 5 months (+0.3% in April vs. -0.7% in March). Meanwhile, home loans data confirmed a continued housing rebound. Note that Australia will release a bunch of employment data tomorrow – forecasts are pretty negative. NZD/USD tested the levels above the $0.8700 mark (highest since August 2011). Gold rose to $1314, but holds slightly below the yesterday’s peak. EUR/USD is trading in the $1.3790 area after it rose as high as to $1.3811 yesterday. GBP/USD is trading in the $1.6750 area after it gained more than 130 pips yesterday.

JP Morgan: short on EUR/USD JP Morgan technical strategists hold a short position on EUR/USD since mid-March with a stop at $1.3950, an initial target at $1.3130, and a secondary target at $1.2900. In a short term analysts see a chance to test the $1.3820 resistance area (61.8% Fibo from the 2011-2012 decline). Clear break above here would weaken the bearish view. Decline below $1.3610 would fully confirm the bearish dominance over the pair. Chart. H4 EUR/USD

April 1: Asian session Asian shares swung between gains and losses as investors weighed reports on China’s manufacturing that pointed to weakness in the world’s second-biggest economy. China March manufacturing PMI came a bit above the forecast at 50.3 (forecast: 50.1, previous: 50.2). However, the final manufacturing PMI from HSBC disappointed, falling the last week's estimate of 48.1 to 48.0 (February: 48.5). USD/JPY is trading a bit on the upside in the 103.20/35 area, below yesterday’s high at 103.43. Yen remained lower after Bank of Japan’s data showed the Tankan index for sentiment among large manufacturers in the nation rose to 17 in Q1 from 16 in the previous period, while analysts surveyed by Bloomberg News expected an advance to 19. According to Mizuho, “Tankan was weak”. AUD/USD retested the $0.9300 mark early in the session, but later slipped back into the $0.9260 area. RBA meeting was a pretty neutral event. The regulator repeated the Aussie dollar is high by historical standards, but said it sees a period of interest rate stability ahead. NZD/USD stayed in a small range around the $0.8670 mark. EUR/USD edged up to $1.3778 after forming a spinning top candle yesterday. GBP/USD edged up to $1.6670, but is below yesterday’s high at $1.6684. US held losses versus most major peers as investors wondered weigh whether American economic data this week will be strong enough to lift central bank’s concerns that the economy still needs stimulus. Key option levels (Apr. 1) Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (14:00 GMT). Here are the key options expiring today: EUR/USD: $1.3650, $1.3700, $1.3750, $1.3765, $1.3790, $1.3800, $1.3830, $1.3890; GBP/USD: $1.6500, $1.6630; USD/JPY: 102.10 (large), 102.30 (large), 102.50 (large), 103.25, 103.30, 103.75 (large); AUD/USD: none; USD/CAD: 1.0900 (large), 1.1030, 1.1200; EUR/JPY: 143.00; AUD/JPY: 94.00. Trade on US data releases The Fed’s Chairwoman Janet Yellen said yesterday US economy will need stimulus “for some time.” Analysts at BNP Paribas think, however, that Yellen’s dovish comments was an attempt to reverse some of the impression created by her “6 months” reference (time between the end of QE and the start of rate hikes) at the March FOMC press conference. The specialists note, however, that the market’s reaction was muted. In their view, this seems unlikely to reverse and prospects for USD will remain good unless data begins to materially deteriorate again. Economists surveyed by Bloomberg predict a report today will show quicker manufacturing growth, while a private survey tomorrow may indicate an improving jobs market. Figures tomorrow from the ADP Research Institute may show companies in the US added 195K jobs in March after boosting positions by 139K the previous month. Citigroup Inc.’s Economic Surprise Index for the US, which shows whether data beat or fell short of economists’ forecasts, dropped to a one-week low of minus 32.60 yesterday. BNPP is long on USD/JPY ahead of the release of the ISM Manufacturing PMI (14:00 GMT). Trade signals from Danske Bank (Apr. 1) EUR/USD: Sell at $1.3780 with a target of $1.3705 and a stop at $1.3815 USD/JPY: Long at 102.12 with a target of 103.77 and a stop at 103.01 GBP/USD: Buy at $1.6645 with a target of $1.6745 and a stop at $1.6595 USD/CHF: Long at 0.8840 with a target of 0.8899 and a stop at 0.8809 AUD/USD: Look to buy USD/CAD: Long at 1.1025 with a target of 1.1170 and a stop at 1.0995

April 1: Asian session Asian shares swung between gains and losses as investors weighed reports on China’s manufacturing that pointed to weakness in the world’s second-biggest economy. China March manufacturing PMI came a bit above the forecast at 50.3 (forecast: 50.1, previous: 50.2). However, the final manufacturing PMI from HSBC disappointed, falling the last week's estimate of 48.1 to 48.0 (February: 48.5). USD/JPY is trading a bit on the upside in the 103.20/35 area, below yesterday’s high at 103.43. Yen remained lower after Bank of Japan’s data showed the Tankan index for sentiment among large manufacturers in the nation rose to 17 in Q1 from 16 in the previous period, while analysts surveyed by Bloomberg News expected an advance to 19. According to Mizuho, “Tankan was weak”. AUD/USD retested the $0.9300 mark early in the session, but later slipped back into the $0.9260 area. RBA meeting was a pretty neutral event. The regulator repeated the Aussie dollar is high by historical standards, but said it sees a period of interest rate stability ahead. NZD/USD stayed in a small range around the $0.8670 mark. EUR/USD edged up to $1.3778 after forming a spinning top candle yesterday. GBP/USD edged up to $1.6670, but is below yesterday’s high at $1.6684. US held losses versus most major peers as investors wondered weigh whether American economic data this week will be strong enough to lift central bank’s concerns that the economy still needs stimulus. Key option levels (Apr. 1) Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (14:00 GMT). Here are the key options expiring today: EUR/USD: $1.3650, $1.3700, $1.3750, $1.3765, $1.3790, $1.3800, $1.3830, $1.3890; GBP/USD: $1.6500, $1.6630; USD/JPY: 102.10 (large), 102.30 (large), 102.50 (large), 103.25, 103.30, 103.75 (large); AUD/USD: none; USD/CAD: 1.0900 (large), 1.1030, 1.1200; EUR/JPY: 143.00; AUD/JPY: 94.00. Trade on US data releases The Fed’s Chairwoman Janet Yellen said yesterday US economy will need stimulus “for some time.” Analysts at BNP Paribas think, however, that Yellen’s dovish comments was an attempt to reverse some of the impression created by her “6 months” reference (time between the end of QE and the start of rate hikes) at the March FOMC press conference. The specialists note, however, that the market’s reaction was muted. In their view, this seems unlikely to reverse and prospects for USD will remain good unless data begins to materially deteriorate again. Economists surveyed by Bloomberg predict a report today will show quicker manufacturing growth, while a private survey tomorrow may indicate an improving jobs market. Figures tomorrow from the ADP Research Institute may show companies in the US added 195K jobs in March after boosting positions by 139K the previous month. Citigroup Inc.’s Economic Surprise Index for the US, which shows whether data beat or fell short of economists’ forecasts, dropped to a one-week low of minus 32.60 yesterday. BNPP is long on USD/JPY ahead of the release of the ISM Manufacturing PMI (14:00 GMT). Trade signals from Danske Bank (Apr. 1) EUR/USD: Sell at $1.3780 with a target of $1.3705 and a stop at $1.3815 USD/JPY: Long at 102.12 with a target of 103.77 and a stop at 103.01 GBP/USD: Buy at $1.6645 with a target of $1.6745 and a stop at $1.6595 USD/CHF: Long at 0.8840 with a target of 0.8899 and a stop at 0.8809 AUD/USD: Look to buy USD/CAD: Long at 1.1025 with a target of 1.1170 and a stop at 1.0995

EUR/USD capped at $1.3800 EUR/USD has recovered some ground on Monday, bouncing from the 55-day MA at $1.3710 towards the $1.3800 figure. However, analysts of the major investment banks are cautious about the euro ahead of the ECB policy meeting on Thursday. The regulator is expected to pull the currency down by an additional easing or at least by a more aggressive verbal intervention. Credit Agricole holds a medium-term EUR/USD short from $1.3780 with a target of $1.3300 and a stop at $1.4160. Economists believe the most effective measure the ECB can undertake is to introduce the negative deposit rate: “As the EUR has been benefitting from a positive capital flow situation, cutting the deposit rate negative appears to be the most efficient way going forward. Indeed, Weidmann said too that negative rates would be more appropriate to curb the EUR”, they explain. Credit Suisse recommends selling EUR/USD on rallies from the rising 55-day MA ($1.3712). Strategists went short on the pair from $1.3795 targeting $1.3665. “We favor a break below $1.3704 for a test of $1.3664/43 – the 61.8% retracement of the February/March rally, late February low and trend line support”, analysts add.

Mar. 31: Asian session Asian shares rose. The MSCI Asia Pacific Index climbed 0.5%. Japanese Nikkei rose by 0.65%. USD/JPY opened with a small gap up at 102.94, but then edged a bit down. Japanese preliminary industrial production fell by 2.3%. US dollar strengthened a bit before Federal Reserve Chair Janet Yellen speaks and ahead of figures tomorrow that may show US manufacturing strengthened this month. Commodity currencies are retracing from the Friday’s highs in Asia. AUD/USD extends the correction from the recent peak of $0.9300. Aussie found support at $0.9220 as of writing. Aussie is seen under pressure ahead of the tomorrow RBA meeting (no policy changes expected). NZD/USD follows the Australian counterpart, weakening from the Friday’s high of $0.8695 to $0.8660. NZ business confidence came below the forecast in March (67.3 vs. previous 70.8). Gold has slightly recovered from the Friday’s low of 1285. EUR/USD is trading in the $1.3750 area after opening with a gap up at $1.3762. On Friday the single currency dipped to $1.3700 and formed a “hammer”. Euro’s under pressure ahead of the central bank’s meeting this week. GBP/USD opened with a gap up at $1.6654, but then slid down by 20 pips. CFTC: EUR net longs down Here are the essentials of the latest Commitments of Traders (COT) report, released on March 28 by the Commodity Futures Trading Commission (CFTC) for a week ended on March 25. According to the report, net long EUR positions fell from the last week's 5-month high of 52K to almost 40K contracts. Canadian dollar was the biggest mover of the week: net short contracts fell from 70K to 33K this week. EURUSD GBPUSD USDJPY AUDUSD NZDUSD USDCAD

Mar. 20: Asian session Asian markets moved lower on Thursday on concerns that the US could push up interest rates earlier than expected. In a press-conference after the FOMC meeting, Chairwoman Janet Yellen said the Fed could raise rates "something on the order of six months" after the bank shuts down its bond-buying program. Markets were surprised: it means that rates could be raised as early as April 205 —ahead of the late 2015 market expectation. As expected, the central bank reduced its QE program by $10 billion to $55 billion. US dollar strengthened versus the other major currencies. USD/JPY jumped to 102.70 on the FOMC news, but retraced to 102.30 in early Asia. Nikkei 225 index lost 1.3%.AUD/USD consolidates 20 pips above the yesterday’s through at $0.9000.NZD/USD extended the yesterday’s drop, hitting a session low of $0.8520 on weaker-than-expected New Zealand Q4 GDP (+0.9% vs. expected +1.0%, Q3 reading revised down to +1.2%). Gold hit a low of $1326 today (lowest since the end of February). EUR/USD has recovered some ground to $1.3840 after the yesterday’s 120 pips drop to $1.3810. GBP/USD followed the euro, recovering from the low of $1.6510 to $1.6540. USD/CHF hit a high of $0.8810 in the US session. Swiss National Bank will announce its monetary policy decision at 8:30 GMT. SNB maintains the EUR/CHF peg The Swiss National Bank left the minimum exchange rate unchanged at 1.20 francs per euro and is ready to enforce it if necessary “by buying foreign currency in unlimited quantities, and to take further measures as required”. The 3-month Libor rate was also kept unchanged at the 0.0–0.25% range. The regulator explains that the CHF is still high and “with the 3-month Libor close to zero, the minimum exchange rate continues to be the right tool to avoid an undesirable tightening of monetary conditions in the event of renewed upward pressure on the Swiss franc.” SNB's current inflation forecast is at 0% for 2014 and at 0.4% for 2015, in both cases 0.2% lower than the previous estimates. In 2016 the central bank expects a 1.0% rise. The SNB acknowledged the continued recovery in the EU in Q4 of 2013, but pointed out that risks remained, such as low inflation, uncertainty about the health of Europe's banking system, political tensions and weakness in key emerging markets.

What to expect from the Fed? The US Federal Reserve will announce the results of its March policy decision on Wednesday at 18:00 GMT. The new Fed's chief Janet Yellen will start her first press-conference at 18:30 GMT. According to the market consensus, the FOMC decision will include another $10 billion cutback in the pace of asset purchases, slowing QE3 to $55 billion per month. Fed's qualitative "forward guidance" (6.5% unemployment and 2.5% inflation thresholds) is likely to be replaced with a more qualitative guidance. The new guidance is expected to underline that rates will remain unchanged well beyond the end of the QE program ("low for longer" fed funds rates). Markets will of course react to any changes to the Fed projections for growth, unemployment and interest rates. BNP Paribas: We anticipate relatively neutral market impact on USD from the meeting. As long as Chairman Yellen largely attributes weak US activity to the weather, USD should stay resilient. Mar. 19: European session European stocks paused from a two-day rally, with investors awaiting the US Federal Reserve's policy decision at 18:00 GMT. Markets have rallied earlier in the week as Ukraine woes eased a little. Although Crimea moves into Russia, investors interpreted the yesterday's Vladimir Putin's speech, in which he said he wouldn't seek a further division of Ukraine, as a step away from an escalation of the crisis. EUR/USD trades around $1.3920, staying above the key $1.3880 near-term support. GBP/USD strengthened to $1.6645 on the upbeat UK labor market data. Claimant count fell by 34.6K in February (forecast: - 23.3K). January claimant count change reading was revised from 27K to 34K. As expected, unemployment rate stayed at 7.2%. BoE March meeting show all 9 MPC members voted to leave policy unchanged. Mar. 19: Asian session Asian stocks were mixed on Wednesday ahead of the outcome of the FOMC first policy meeting under its new chief Janet Yellen. The Fed is widely expected to continue to reduce the QE size by $10 billion. Traders are also focused on the Fed’s forward guidance, with many expecting the cancellation of a 6.5% unemployment threshold. China concerns remain a negative factor for the risk sentiment. The MSCI Asia Pacific Index rose by 0.2%, while Nikkei 225 added 0.3%. Currency markets had a calm session. USD/JPY consolidates, capped at 101.60 and supported by the 101.30 mark. Data showed Japan trade deficit unexpectedly widened to 1.13 trillion. According to a Reuters poll, released today, 7 out of 16 economists expect the BoJ to ease further in July. Commodity currencies are trading under a slight bearish pressure. AUD/USD retraced lower to $0.9115 after testing the $0.9135 resistance (200-day MA) to the upside at the very beginning of the session. NZD/USD followed the Aussie, retracing from the yesterday’s high of $0.8640 towards the $0.8600 mark. EUR/USD remains in a sideways $1.3950/3880 range, hanging at $1.3920 as of writing. GBP/USD sits at $1.6590 following the yesterday’s dip to $1.6545. Great Britain will release a bunch of employment data and monetary policy minutes at 9:30 GMT. Nomura: buy USD/JPY ahead of FOMC Nomura traders bought another $10 million of USD/JPY from 101.75 and with a stop at 100.00. Nomura thinkst the FOMC meeting could be a catalyst for dollar gains vs. the yen. "Specifically, we think removal of guidance related to the 6.5% unemployment threshold will weaken the Fed’s forward guidance on the margin, which could see some increase in US rates and USD support," Nomura clarifies. GBP/USD back above $1.6600 Cable recovered from a 1-month low hit yesterday at $1.6544 to $1.6620. The market is waiting for a bunch of UK data to come at 9:30 GMT (MPC March minutes, labor market numbers and later – UK annual budget). Weakening performance and its acknowledgement by the UK authorities may push traders to speculate that this will delay interest rate hikes for a longer period than currently expected. Cable is trading under a moderate bearish pressure since mid-February, retracing from highs above $1.6800. Major near-term support lies in the $1.6545/40 area (55-day MA, 8-month uptrend). Break below here could open the way towards $1.6260/30 support (September high and the 23.6% retracement of the move up from July 2013). Trade signals from Danske Bank (Mar. 19) *Danske Bank uses trailing stop orders (moved together with the price) EUR/USD: Long at $1.3915 with a target of $1.4075 and a stop at $1.3869 USD/JPY: Short at 101.75 with a target of 100.76 and a stop at 102.43 GBP/USD: Short at $1.6625 with a target of $1.6538 and a stop at $1.6675 USD/CHF: Short at 0.8747 with a target of 0.8632 and a stop at 0.8790 AUD/USD: Long at $0.9035 with a target of $0.9204 and a stop at $0.9054 USD/CAD: Long at 1.1035 with a target of 1.1225 and a stop at 1.1070

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