OctaFX_Farid Posted April 1, 2015 Author Share Posted April 1, 2015 EUR/SEK poised for further downside – JP Morgan FXStreet (Edinburgh) - Analysts at JP Morgan agreed that there is actually little that the Riksbank can do to debilitate the krona, with EUR/SEK grinding lower albeit at a snail pace. Key Quotes “There can be little doubt after the last intra-meeting rate cut and QE extension that the Riksbank has lost patience with the inflation process and is prioritizing the exchange rate as a fast-track route to delivering on its 2% inflation objective”. “Such a strategy might make more sense were it not for the pronounced acceleration now underway in the economy and the turn in the domestic inflation cycle”. “As it is, with growth of over 3% likely both this year and next, the Riksbank runs the risk of over-easing too late in the business cycle in the same way that it made the mistake of over-tightening too early in the cycle in 2010-2011”. “For this reason we believe the Riksbank will struggle to convince investors that it is capable of matching ECB easing for as long as it takes the ECB to reflate the Euro area economy”. “The most that we believe the Riksbank can achieve is to slow and limit the fundamental downtrend in EUR/SEK, not to reverse it”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 01,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 2, 2015 Author Share Posted April 2, 2015 DXY likely to test/break 95 in 4-6 weeks – BAML FXStreet (Barcelona) - Strategists at BofA-Merrill Lynch, remain of the view that Q2 might bring some downside surprises to the USD strength, and further note that Volatility remains the ‘but the dip’ trade of 2015. Key Quotes “Some reversal in the US dollar would not be a surprise. The Feb "blinked" in March because of the risks associated with a disorderly dollar surge.” “DXY likely to test/break 95 in next 4-6 weeks; this suggests bear market rallies in commodities, resources, EM et al. This already hinted at by recent favourable reversal in world's most contrarian pair trade: long PBR, short HD. Tactics aside we remain structurally bullish the US dollar.” “We remain a buyer of volatility (so at margin add to gold and cash). Without doubt the key Q2 call is can the US economy recovery its mojo (i.e. Q2 GDP pops >3%) or not (GDP for 3rd consecutive quarter fails to break much above <2%).” “Big GDP...Fed hikes get priced-in. Small GDP ..."secular stagnation" back in play, investor "buyers strike" in overvalued corporate bonds and equities.” “In either scenario, volatility performs well. Vol remains the "buy the dip" trade of 2015.” “Lower exposure to spread product. BAML house view is US GDP >3.5% Q2. This likely to put upward pressure on bond yields as June/Sept in play for hike. In turn this is likely to widen spreads across corporate bonds, a trend that at any moment can be exacerbated by latent investor fears on market liquidity, speculative excesses in "yield" products, and levered ETF risk parity strategies.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 2, 2015 Author Share Posted April 2, 2015 US Trade deficit fell 16.9% in February FXStreet (Mumbai) - The commerce department in the US reported a drop of 16.9% in the US Trade deficit to USD 35.4 billion in February. In January, the deficit stood at USD 42.7 billion. The sharp fall in the deficit was mainly due to a USD 10.2 billion drop in Imports. The drop in the imports was mainly due to west coast ports dispute that interrupted the flow of 20% of imports. The dispute blocked imports from China and Japan, leading to a fall in trade deficit with both countries. Meanwhile, strength in the USD also led to weak exports. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 2, 2015 Author Share Posted April 2, 2015 USD/CAD to hold the 1.2350 support – Westpac FXStreet (Barcelona) - Richard Franulovich of Westpac, expects that with USD pullback risks in sight, USD/CAD might exhibit a dovish tone. Key Quotes “USD/CAD looks like it may well continue for another week inside what is now a near two month range bounded by 1.2350 and 1.2850.” “Heightened near term risk of a broader USD pullback, as the US data continues to disappoint and the FOMC minutes expand on the last meeting’s dovish tilt could see USD/CAD easily testing the bottom of recent ranges. Suspect the lows will hold.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 2, 2015 Author Share Posted April 2, 2015 Impact of NFP on GBP/USD, scenario analysis – FXStreet FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, a weaker than expected print of nonfarm payrolls might lead to a short-term correction in the dollar, thereby boosting GBP/USD to 1.4950, while a stronger result might drown cable towards 1.4633. Key Quotes “The market expects non-farm payrolls report to show the US economy added 244K jobs in March, compared to 295K in February.” “However, if the NFP prints below estimates, we are likely to see a short correction in the US dollar. It may not significantly alter the rate hike expectations, since we have had three months of stellar jobs report, still, it could trigger a short correction in the USD.” “In case of GBP/USD it could mean a rally to 1.4950-1.4970 levels. Further gains are unlikely due to the UK election uncertainty.” “On the other hand, a better-than-expected jobs report could bring back June rate hike talk and push the GBP/USD pair well below the latest cyclical low of 1.4633.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 2, 2015 Author Share Posted April 2, 2015 WTI Crude recovers from low, still down 2.34% FXStreet (Mumbai) - Oil prices recovered from the low of USD 48.39/barrel, although prices still trade 2.56% lower for the day at USD 48.81/barrel. Trades below 50-DMA Prices dropped below 50-DMA located at USD 49.26, as the nuclear program talks between Iran and global powers extended well beyond their self imposed deadline of March 31st. A deal would unlock million of barrels of Iranian oil supply. In the meantime, drop in the US initial jobless claims failed to support Crude prices. Moreover, the resulting strong US dollar weighed over prices. The futures are likely to remain under pressure as markets remain fixated on the possibility of increased Iranian supplies in case the deal is reached. WTI Crude Technical Levels The immediate support is seen at 48.36, under which losses could be extended to 47.50. On the flip side, resistance is seen at 49.26 (50-DMA) and 50.47 (100-DMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 2, 2015 Author Share Posted April 2, 2015 SNB might start intervening in FX space, might lower rates further - Rabobank FXStreet (Barcelona) - With ECB’s purchases weighing down EUR/CHF, Emile Cardon of Rabobank, predicts that the SNB might surprise with another rate cut and fresh buying of the CHF. Key Quotes “We expect the Swiss National Bank to start intervening in the FX market in case pressure on EUR/CHF increases. This could be next week already, given that ECB is purchasing EUR 60bn in bonds each month and EUR/CHF is creeping lower again.” “The SNB could probably buy another CHF 50bn; which will probably mainly be focused on bonds with a short duration (it will try to prevent huge losses from price fluctuations). These additional purchases might not be enough and we do not exclude any further rate cuts and the SNB could possibly lower its rate on sight deposits even to -1.5%.” “Market participants do also not exclude this step as forward rates on three month Libor are trading below the current 3-month Libor rate.” “The question really is whether Switzerland still has the means to fight any appreciation of the franc under all circumstances. In scenario of panic, it would not be entirely inconceivable for the SNB to introduce certain capital restrictions to prevent CHF to appreciate further. However, such a step would be unprecedented for any country and certainly for Switzerland.” “For now it would definitely be a bridge too far. In the longer run we expect weaker fundamentals to be harmful for Switzerland as a safe haven status.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 2, 2015 Author Share Posted April 2, 2015 Treasuries extend gains as US stocks slip – RBS FXStreet (Barcelona) - William O'Donnell, Head of US Treasury Strategy at RBS comments on the treasury market and further shares the key technical levels for 2s, 5s, 10s and 30s treasuries. Key Quotes “Treasuries have extended gains on a further slip in US stocks (Put/Call ratio for S&Ps highest since 2008 says Bloomberg), ongoing jitters over the Greek and Iran talks, yesterday's Atlanta Fed updated Q1 GDPNow forecast of 0.0% and hopes for more monetary easing in Japan and China.” “The belly has led the charge higher from the Asian session lows, helped along by some block buying in FV futures.” “Our overnight US rates flows held up even as key EU markets prep for a 4 day weekend. We had Asset mgr. selling in 30yrs, good block buying in FV futures (15k between 120-16 and 120-18 an hour ago) and some fast$ paying in 5yrs. Overnight Treasury volume (4pm to 6am) was 142% of the 10-day average volume for the overnight hours." “2s (0.52%)- Next major support doesn't emerge until ~0.80% where we found buyers back in the spring of 2011. Resistance seen at 0.40% where we'd close a gap left behind in late October. Daily momentum is mixed.” “5s (1.30%)- Next major support comes in at 1.80% and just above. Next resistance begins at ~1.30% and extends down to major resistance at 1.15%. Daily momentum is overbought and mixed/aimless.” “10s (1.835%)-Next resistance comes in some congestion in and around 1.80% then the low yields of 1.64%. Next support comes in ~2.40% with major support at 2.66% after that. Daily momentum is overbought and still mixed.” “30s (2.445%)- Bonds don't have any solid support until 3.105%, the November "lows." Next resistance around 2.40%. Daily momentum is a mess-almost at overbought levels and looking a bit aimless.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 2, 2015 Author Share Posted April 2, 2015 United States ISM New York index down to 50 in March from previous 63.1 Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 2, 2015 Author Share Posted April 2, 2015 USD/CAD drops below 1.26 FXStreet (Mumbai) - The recovery in the crude prices from the daily lows, coupled with the decline in the Canadian trade deficit pushed the USD/CAD pair below 1.26 levels. Rejected at 5-DMA The pair failed to sustain gains above its 5-DMA located at 1.2632 as Crude prices in the US, which were down 3% at one point, recovered losses to trade above their 50-DMA at USD 49.40/barrel. Meanwhile, the drop in the Canada’s trade deficit also helped the CAD. Meanwhile, the markets ignored the drop in the US Trade deficit as it was largely driven by a dispute at West coast ports, which blocked imports from China and Japan. Consequently, the pair extended the drop to its 50-DMA located at 1.2564. USD/CAD Technical Levels The pair now trades at 1.2571; down 0.40% for the day. The immediate support is seen at 49.40 (50-DMA), under which losses could be extended to 1.25. On the flip side, a rise above 1.2630 (5-DMA), could see the pair re-test the daily high at 1.2654 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 02,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 3, 2015 Author Share Posted April 3, 2015 Greek debt market discounting an elevated risk of default – BTMU FXStreet (Barcelona) - The Bank of Tokyo-Mitsubishi UFJ Team, comments that the ongoing negotiations between Greece and its creditors remains frustratingly slow, and with IMF loan repayment near, the Greek government debt market has been discounting for an elevated risk of default. Key Quotes “The ongoing negotiations between the Greek government and its international creditors continue to remain frustratingly slow. The latest list of economic reforms submitted by the Greek government has shown progress but still fails to fully satisfy the Brussels Group. Negotiations will continue in the week ahead.” “The Greek government is running out of time to secure financing. An IMF loan repayment totaling EUR458 million is due on the 9th April. The Greek government debt market is currently discounting an elevated risk of default.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 3, 2015 Author Share Posted April 3, 2015 USD/CHF to make a new high – EW-Forecast FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, uses Elliott Wave Analysis to predict that USD/CHF might make a new high after finding support on correction near 0.9400. Key Quotes "USDCHF has recently move up to the levels from January highs so we assume that new swing high could be seen, especially if we consider ongoing impulsive count from January lows. Ideally pair is making a big wave C) up on weekly chart that can stop somewhere around 1.0500.” “As such, at the moment current downward move can be a corrective fourth wave that will be looking for a base near 0.9400.” “An impulse up from that region will put new highs in play, but for now we see that latest minor rally was made in three waves, so it's probably wave as part of a second zigzag.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 3, 2015 Author Share Posted April 3, 2015 Credit Agricole: JPY sees upside risk into next week’s BoJ policy announcement – eFXnews FXStreet (Barcelona) - The eFXnews Team shares Credit Agricole’s view that JPY might see upside risk into BoJ’s policy announcement scheduled next week, and further suggest remaining short CHF/JPY. Key Quotes “When it comes to the BoJ investors’ focus turns to next week’s monetary policy announcement. Although growth and price developments weakened of late there appears to be little scope of the central bank considering a more aggressive policy stance.” “This is especially true as central bank Governor Kuroda continuously stressed during the last few weeks that inflation is likely to slow further before accelerating in the second half of the year. If anything that suggests that they will continue to monitor incoming data before deciding on additional measures.” “Under such conditions we expect the JPY to still be driven by global risk sentiment. Well supported Fed rate expectations, intact uncertainty as related to Greece and unstable Asian growth conditions should be factors keeping investor demand for risk assets limited.” “As such the currency may be subject to upside risk still, at least against currencies such as the EUR and CHF. As a result of the above outlined conditions we remain short CHF/JPY.” This content has been provided under specific arrangement with eFXnews. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 3, 2015 Author Share Posted April 3, 2015 GBP/USD drops in choppy trade FXStreet (Mumbai) - The British Pound weakened in a quiet day of trade, taking the GBP/USD pair below 1.4820 levels, which is also a 61.8% Fib retracement of the move from 1.4633-1.5122. GBP/USD: Awaits Non-farm payrolls data The pair awaits the US March non-farm payrolls report, which is likely to show the US economy added 245K jobs compared to 295K additions see in February. The pair clocked a high of 1.4839, before falling below the 5-DMA located at 1.4822. The pair has been stuck largely in the range of 1.4870 to 1.4740 since the beginning of the current week. A breakout from the range could be expected after the release of the payrolls data in the US later today. GBP/USD Technical Levels The immediate resistance is seen at 1.4820, above which gains could be extended to 1.4870. On the flip side, a break below 1.48 could push the pair lower to 1.4749. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 3, 2015 Author Share Posted April 3, 2015 AUD/USD flirting with 0.76 FXStreet (Mumbai) - AUD/USD emerged as the strongest performer in the fx markets, rising above 0.76 handle, amid calm European session as traders now turn their attention towards US jobs data due later ahead of US open. AUD/USD ends choppy trade Currently, the AUD/USD trades higher by 0.11%% and hovers around 0.76 handle, extending its range trend. AUD/USD consolidated previous losses and edged higher largely on short-covering rally as traders close their AUD shorts ahead of the crucial US labour market report, which is expected to be the major driver in the North American session. The AUD/USD pair recovered from new cyclical lows reached in the previous session, although remains pressured as traders await the upcoming Reserve Bank of Australia (RBA) meeting, where the central bank may cut rates again. AUD/USD Technical Levels The pair has an immediate resistance at 0.7612 levels, above which gains could be extended to 0.7646 levels. On the flip side, support is seen at 0.7558 levels from here it to 0.7520 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 3, 2015 Author Share Posted April 3, 2015 IMF COFER: Central banks actually bought Euro modestly during this decline – BTMU FXStreet (Barcelona) - Reviewing the IMF COFER FX reserves data, the Bank of Tokyo-Mitsubishi UFJ Team, believes that the decline in nominal percentage terms doesn’t tell the true story for the euro, as after stripping out the EUR’s depreciation, an argument can be made that central banks have in fact bought USD 17bn worth of the euro. Key Quotes “By our calculations, when stripping out the euro depreciation effect, global central banks were modest buyers of euros in Q4, to the tune of USD 3.6bn worth. In fact over 2014 as a whole, central banks bought USD 17bn worth.” “Still, given the scale of the drop in EUR/USD in H2 2014 and given that central banks have a tendency to buy the euro on dips, an argument can still be made that sentiment is turning against the euro.” “Indeed, the last time when EUR valuations were so negative – Q1 & Q2 2010 – central banks were heavy buyers of the euro and that was when the Greek crisis was escalating. When the euro plunged in Q1 & Q2 2010, central banks bought a huge USD 184bn worth.” “There is certainly a case to be made that the compression in yields, perhaps coupled with uncertainty over Greece, is fuelling a major shift in central banks’ willingness to hold the euro.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 3, 2015 Author Share Posted April 3, 2015 Asymmetrical risk in nonfarm payrolls - BBH FXStreet (Córdoba) - The Brown Brothers Harriman team notes that there is an asymmetrical risk in the nonfarm payrolls report this month, as a weak number is likely to alter expectations about the timing of a rate hike by the Fed, while a strong number is not. Key Quotes “The US employment report stands between us and the weekend. With parts of Asia and nearly all of Europe closed, participation is obviously considerably lighter than normal. This coupled with significant positioning can make for dramatic moves”. “At the same time, there is an asymmetrical risk. A robust report does not change the status quo”. “The relatively steady improvement in the labor market has not prevented scaling back of Fed hike expectations. Another strong report is unlikely to persuade the market that a June rate hike is more likely. A weak, however, could push market sentiment away from a September hike”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 3, 2015 Author Share Posted April 3, 2015 Market pushing expectations for Fed’s hike into Q4 – BBH FXStreet (Barcelona) - “The US March employment report makes for dismal reading”, quotes the Team at Brown Brothers Harriman, as they review the US jobs data release, and comment on the shift in market expectations surrounding Fed’s rate lift-off. Key Quotes “Job growth collapsed to 126k, the lowest monthly total since December 2013. Adding insult to injury, there was a 69k downward revision to this year's job growth. The average work week slipped 0.1%, which may not sound like much but suggests a significant drag on output.” “One of the few bright spots in this otherwise poor report was the 0.3% rise in hourly earnings. Yet, the 2.1% year-over-year pace is still disappointing relative to past cycles. The participation rate eased back to 62.7%.” “The unemployment rate was flat at 5.5%, but the underemployment rate slipped to 10.9% from 11.0%.” “The pendulum of market expectations had already pushed the Fed's lift off into Q4. It is possible that it is pushed into 2016.” “However, we suspect that while Fed officials will take note of today's report, short-term market participants are likely to put more stock in the high frequency data than the central bank.” “The speculative community remains very long US dollars, and position squaring will likely see the Q1 trend consolidate and correct here at the start of Q2.“ OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 3, 2015 Author Share Posted April 3, 2015 USD weaker post NFP aftermath – TradeTheNews FXStreet (Barcelona) - The TradeTheNews Team gives the update for the key developments post US NFP data release – rate hike expectations, impact on FX and yields. Key Quotes “The USD was broadly weaker in the aftermath of the disappointing Mar jobs data. The market now debating whether the Fed would hike rate at all in 2015.” “The EUR/USD was back above the 1.10 level and within striking distance of electing buy-stops building above the 1.1050 area (post-FOMC highs in late March).” “The greenback dipped below the 119 handle against the yen in thin market conditions.” “The US yields slumped in reaction to the miss in the US employment report. The 10-year US govt bond yield fell by 11bps to test below 1.805% level.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 3, 2015 Author Share Posted April 3, 2015 USD weaker post NFP aftermath – TradeTheNews FXStreet (Barcelona) - The TradeTheNews Team gives the update for the key developments post US NFP data release – rate hike expectations, impact on FX and yields. Key Quotes “The USD was broadly weaker in the aftermath of the disappointing Mar jobs data. The market now debating whether the Fed would hike rate at all in 2015.” “The EUR/USD was back above the 1.10 level and within striking distance of electing buy-stops building above the 1.1050 area (post-FOMC highs in late March).” “The greenback dipped below the 119 handle against the yen in thin market conditions.” “The US yields slumped in reaction to the miss in the US employment report. The 10-year US govt bond yield fell by 11bps to test below 1.805% level.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 03,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 6, 2015 Author Share Posted April 6, 2015 GBP/USD posts fresh highs above 1.4950 FXStreet (Córdoba) - GBP/USD managed to print fresh daily highs above 1.4950 at the beginning of the American session as dollar extends weakness across the board following Friday’s disappointing nonfarm payrolls figures. GBP/USD broke above the 1.4950 resistance level and stretched to an 11-day high of 1.4967 also weighed by comments of Fed’s Dudley. New York Fed’s President said dollar appreciation is a shock which is expected to cut growth by 0.6% and reiterated the Fed dropping the word patient doesn’t mean it became impatient. At time of writing, GBP/USD is trading at 1.4960, recording a 0.3% gain on the day. Valeria Bednarik, chief analyst at FXStreet points out short-term charts show the upside remains favored. The analyst locates immediate resistance levels at 1.5000 and 1.5040, while she places supports at 1.4880, 1.4840 and 1.4790. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 6, 2015 Author Share Posted April 6, 2015 GBP/USD higher, but near-term bearish bias - Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, maintains a bearish bias for GBP/USD in the near-term into the UK elections. Key Quotes “GBP is up 0.2%, as the U.K. is closed for holidays. This week there are several important data releases including services PMI, trade, industrial production and housing and we do not expect any change from the BoE on Thursday.” “The core near‐term driver for GBP is expected to be developments in election, with the uncertainty around it likely to weigh heavily on GBP.” “For near‐term traders we remain biased to be short leading into the election.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 6, 2015 Author Share Posted April 6, 2015 DXY off lows near 94.50 FXStreet (Edinburgh) - After dropping to fresh lows in the 96.30 area, the US Dollar Index is now regaining some pips and trading in the 96.45/50 band. DXY softer on sentiment, data The US dollar reverted the initial positive tone during the Asian trading hours, as sentiment towards the risk appetite started to gather traction during the European morning. Mixed US data did little-to-nothing to curb the softness around the greenback, with Markit’s Sevices PMI coming in above estimates, ISM Non Manufacturing in line with consensus and the Labor Market Conditions Index contracted to -0.3 during March from February’s 4. DXY levels to consider The index is now down 0.08% at 96.46 with the initial support at 96.33 (low Apr.6) ahead of 96.17 (low Mar.26) and finally 95.84 (low Mar.5). On the upside, a breakout of 96.80 (high Apr.6) would open the door to 98.64 (high Apr.1) and then 99.11 (high Mar.20). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 6, 2015 Author Share Posted April 6, 2015 EUR/USD back below 1.1000 FXStreet (Edinburgh) - After and adventure to the area of 1.1040, EUR/USD is now shedding earlier gains and returning to the 1.0990 neighbourhood. EUR/USD still capped by 1.1050 The 1.1050/60 band is proving to be quite a tough barrier for EUR-bulls so far, with spot keeps being rejected from that area and feeding speculations that a top might have taken place. In the meantime, and with Euroland on holidays due to Easter Monday, mixed data releases in the US economy failed to lend a long-lasting support to the pair, which found itself struggling to overcome the mid-1.1000s. EUR/USD key levels At the moment the pair is advancing 0.08% at 1.0987 and a breakout of 1.1036 (high Apr.6) would open the door to 1.1052 (high Mar.26) and finally 1.1062 (high Mar.18). On the other hand, the immediate support lines up at 1.0867 (low Apr.3) followed by 1.0766 (low Apr.2) and then 1.0718 (low Apr.1). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 6, 2015 Author Share Posted April 6, 2015 USD/CAD, a visit to 1.19 is not ruled out – TDS FXStreet (Edinburgh) - FX Strategists at TD Securities do not discard a breakdown of the key support at 1.2359, allowing a test of the low-1.19s. Key Quotes “The daily chart supports the bearish outlook; spot is opening the week below trend support and well below the bellwether 40-day MA”. “The base of the 2015 consolidation at 1.2453 on the daily chart is under pressure again but key support, in our opinion, remains the February low at 1.2359—effectively the double/triple top neckline trigger”. “A clear break below here targets a fairly swift move down to the low 1.19s”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 06,2015 OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
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