OctaFX_Farid Posted April 14, 2015 Author Share Posted April 14, 2015 USD/JPY remains a buy for 124.00 – RBS FXStreet (Barcelona) - According to Dmytro Bondar, Technical Analyst at RBS, USD/JPY corrections towards 118.00 offer buying levels for 124.00 and above. Key Quotes “The USD/JPY has been in its correction phase after reaching my target of 121.00. It has also triggered a bullish flag on the daily chart, indicating there will be more upside after correction is completed.” “As a confirmation, the daily MACD has turned bullish. This implies that any corrections will probably be limited by the 118.00 support level, which we will see as buying opportunity for 121.00 and 124.00 onto potentially higher targets (130.00).” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 14,2015 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 14, 2015 Author Share Posted April 14, 2015 EUR/USD rebounds on weaker US eco data – KBC FXStreet (Barcelona) - The KBC Bank Research Team comments on the impact on EUR/USD post the release of today’s US economic data. Key Quotes “Intraday, EUR/USD was initially downwardly oriented and started the European session at about 1.0530, the intraday low.” “It very slowly grinded higher in uneventful trading till the release of the retail sales. These were not strong enough for traders and a good opportunity to take profit on dollars following a multi‐day strong dollar run.” “EUR/USD shot up from 1.0560 to 1.0692 where the move stalled.” “Will the pair try to test the first resistance at 1.0712? We don’t think so as the ECB meeting tomorrow makes traders cautious.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 14,2015 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 15, 2015 Author Share Posted April 15, 2015 AUD/USD consolidation expected – Growth Aces FXStreet (Barcelona) - Reviewing today’s Australian data release, the Growth Aces Research Team, further comment on the uncertainty of a rate cut in May by the RBA, and stay sideways on AUD/USD. Key Quotes “A measure of Australian consumer sentiment fell 3.2% mom and 3.5% yoy in April. The retreat unwound more of February's sharp 8.0% gain which followed a cut in interest rates early that month.” “A measure of family finances compared to a year ago fell 7.4%, while the outlook for the next 12 months eased a relatively slim 0.7%. Despite all the anxiety, respondents still felt it was a good time to buy a major household item, with that index climbing 5.9% in April.” “The AUD/USD opened Wednesday at 0.7626, but quickly fell below 0.7600 and is depreciating further. Part of the weakness came after the release of weaker measure of Australian consumer sentiment but China data were also not helping. Annual economic growth in China slowed, as expected, to a six-year low of 7% in the first quarter, while retail sales and industrial output undershot forecasts. Chinese retail sales rose 10.2% yoy vs. median forecast for a 10.9% yoy rise. Industrial output went up by 5.6% yoy vs. median forecast for a 6.9% yoy rise.” “Investors slightly increased the risk of an interest rate cut by the Reserve Bank of Australia in May. However, in our opinion May rate cut is uncertain. That is why we see a risk of the relatively stronger AUD and stay sideways on the AUD/USD.” “Resistance: 0.7678 (session high Apr 13), 0.7694 (21-dma), 0.7720 (high Apr 10)” “Support: 0.7556 (low Apr 14), 0.7534 (low Apr 2), 0.7500 (psychological level)” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 15,2015 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 15, 2015 Author Share Posted April 15, 2015 Major risk for euro lies in Draghi’s Q&A session, EUR/USD weakness expected – TDS FXStreet (Barcelona) - FX Strategists at TD Securities remain of the view that the major risk for the single currency lies in the Q&A session in the press conference, and further expect EUR/USD to move back to test the 1.05 area. Key Quotes “EURUSD rallied on ‘disappointing’ US retail sales data yesterday; the 0.9% m/m headline gain missed expectations and while not wholly bad, the weaker than expected outcome undermined hopes that the US economy was poised to bounce in Q2.” “It’s still too early to judge that and the US economy does have history on its side in this respect (GDP growth has averaged a little over 0.6% in Q1 over the last five years but then gone on to record growth nearer 3% on average in each of the next three quarters).” “We get an early look at April with the US Empire Survey; a positive an upside surprise in line with our expectations might lift the retail sales-driven gloom a little and support the USD but attention will quickly turn to the ECB press conference.” “We assume [...] no major changes in President Draghi’s opening statement; the risk for the EUR really comes in the Q&A where we expect no concessions to the tapering talk; there have been some positive signs from the real economy (PMI data) but inflation remains uncomfortably low and we think President Draghi will stress full implementation of the QE programme, driving EURUSD back towards the 1.05 area at least.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 15,2015 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 15, 2015 Author Share Posted April 15, 2015 USD/CAD likely to test 1.2600 – FXStreet FXStreet (Barcelona) - According to Dhwani Mehta, FXStreet Editor and Analyst, USD/CAD likely to test 1.2600 on a pessimistic BoC quarterly policy report. Key Quotes “Overall, USD/CAD is seen extending gains in the bullish flag pattern with upside capped by 5-DMA.The daily RSI at 49 aims higher and inches towards the bullish terrain indicating likelihood of further upside.” “The pair is likely to test 1.2600 levels beyond a break of 5-DMA resistance at 1.2549 on pessimistic BOC quarterly monetary policy report.” “However, if the report is viewed as optimistic than CAD bulls may take charge and the pair is likely to drop to 1.25 barrier, below which floors would open for a retest of channel trend line support at 1.2430.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 15,2015 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 15, 2015 Author Share Posted April 15, 2015 ECB President Draghi's introductory statement to the press conference Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to our press conference. Based on our regular economic and monetary analyses, and in line with our forward guidance, we decided to keep the key ECB interest rates unchanged. As regards non-standard monetary policy measures, on 9 March we started purchasing euro-denominated public sector securities as part of our expanded asset purchase programme, which also comprises purchases of asset-backed securities and covered bonds. Purchases are intended to run until the end of September 2016 and, in any case, until we see a sustained adjustment in the path of inflation that is consistent with our aim of achieving inflation rates below, but close to, 2% over the medium term. When carrying out its assessment, the Governing Council will follow its monetary policy strategy and concentrate on trends in inflation, looking through unexpected outcomes in measured inflation in either direction if judged to be transient and to have no implication for the medium-term outlook for price stability. The implementation of our asset purchase programmes is proceeding smoothly, with volumes in line with the announced figure of €60 billion of securities per month. In addition, there is clear evidence that the monetary policy measures we have put in place are effective. Financial market conditions and the cost of external finance for the private sector have eased considerably over the past months and borrowing conditions for firms and households have improved notably, with a pick-up in the demand for credit. Looking ahead, our focus will be on the full implementation of our monetary policy measures. Through these measures, we will contribute to a further improvement in the economic outlook, a reduction in economic slack and a recovery in money and credit growth. Together, such developments will lead to a sustained return of inflation towards a level below, but close to, 2% over the medium term and will underpin the firm anchoring of medium to long-term inflation expectations. Let me now explain our assessment in greater detail, starting with the economic analysis. Real GDP in the euro area rose by 0.3%, quarter on quarter, in the last quarter of 2014. Domestic demand, especially private consumption, continued to be the main driver behind the ongoing recovery. The latest economic indicators, including survey data up to March, suggest that the euro area economy has gained further momentum since the end of 2014. Looking ahead, we expect the economic recovery to broaden and strengthen gradually. Domestic demand should be further supported by ongoing improvements in financial conditions, as well as by the progress made with fiscal consolidation and structural reforms. Moreover, the lower level of the price of oil should continue to support households’ real disposable income and corporate profitability and, therefore, private consumption and investment. Furthermore, demand for euro area exports should benefit from improvements in price competitiveness. However, the euro area recovery is likely to continue to be dampened by the necessary balance sheet adjustments in a number of sectors and the sluggish pace of implementation of structural reforms. While remaining on the downside, the risks surrounding the economic outlook for the euro area have become more balanced on account of the recent monetary policy decisions, the fall in oil prices and the lower euro exchange rate. According to Eurostat’s flash estimate, euro area annual HICP inflation was -0.1% in March 2015, up from -0.3% in February and -0.6% in January. This pattern largely reflects an increase in oil prices in euro terms since mid-January. On the basis of the information available and current oil futures prices, annual HICP inflation is expected to remain very low or still negative in the months ahead. Supported by the favourable impact of our monetary policy measures on aggregate demand, the impact of the lower euro exchange rate and the assumption of base effects and somewhat higher oil prices in the years ahead, inflation rates are expected to increase later in 2015 and to pick up further during 2016 and 2017. The Governing Council will continue to monitor closely the risks to the outlook for price developments over the medium term. In this context, we will focus in particular on the pass-through of our monetary policy measures, as well as on geopolitical, exchange rate and energy price developments. Turning to the monetary analysis, recent data confirm the gradual increase in underlying growth in broad money (M3). The annual growth rate of M3 increased to 4.0% in February 2015, up from 3.7% in January. Annual growth in M3 continues to be supported by its most liquid components, with the narrow monetary aggregate M1 growing at an annual rate of 9.1% in February. Loan dynamics also gradually improved further. The annual rate of change of loans to non-financial corporations (adjusted for loan sales and securitisation) was -0.4% in February, after -0.9% in January, continuing its gradual recovery from a trough of -3.2% in February 2014. In this respect, the April 2015 bank lending survey confirms that improvements in lending conditions support a further recovery in loan growth, in particular for firms. Despite these improvements, the dynamics of loans to non-financial corporations remain subdued and continue to reflect the lagged relationship with the business cycle, credit risk, credit supply factors and the ongoing adjustment of financial and non-financial sector balance sheets. The annual growth rate of loans to households (adjusted for loan sales and securitisation) increased further to 1.0% in February 2015, after 0.9% in January. The monetary policy measures we have put in place should support further improvements both in borrowing costs for firms and households and in credit flows across the euro area. To sum up, a cross-check of the outcome of the economic analysis with the signals coming from the monetary analysis confirms the need to implement firmly the Governing Council’s recent decisions. The full implementation of all our monetary policy measures will provide the necessary support to the euro area recovery and bring inflation rates towards levels below, but close to, 2% in the medium term. Monetary policy is focused on maintaining price stability over the medium term and its accommodative stance contributes to supporting economic activity. However, in order to reap the full benefits from our monetary policy measures, other policy areas must contribute decisively. Given continued high structural unemployment and low potential output growth in the euro area, the ongoing cyclical recovery should be supported by effective supply-side measures. In particular, in order to increase investment, boost job creation and raise productivity, both the implementation of product and labour market reforms and actions to improve the business environment for firms need to gain momentum in several countries. A swift and effective implementation of these reforms will not only lead to higher sustainable growth in the euro area but will also raise expectations of permanently higher incomes and encourage both households to expand consumption and firms to increase investment today, thus reinforcing the current economic recovery. Fiscal policies should support the economic recovery while remaining in compliance with the Stability and Growth Pact. Full and consistent implementation of the Pact is key for confidence in our fiscal framework. In view of the necessity to step up structural reform efforts in a number of countries, it is also important that the macroeconomic imbalance procedure is implemented effectively in order to address the excessive imbalances as identified in individual Member States. We are now at your disposal for questions. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 15,2015 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 15, 2015 Author Share Posted April 15, 2015 Key points from Draghi’s speech – BBH FXStreet (Barcelona) - Mark Chandler, Global Head of Currency Strategy at Brown Brothers Harriman, highlights the key points from Draghi’s speech today, further noting that although Draghi didn’t make any surprising references, he did confirm continued support to Greek banks. Key Quotes “There were not high hopes for new action from the ECB and they were not disappointed. Policy was left as it is with a negative 20 bp deposit behavior. The weaker than expected April US Empire manufacturing survey (-1.19 vs 6.90 in March) helped break the euro's downside momentum.” “Draghi made four points, none of which are surprising: The cyclical recovery in the euro area has strengthened. The asset purchase program has been successful It will continue until September 2016 at least or a sustained increase in inflation. The program is flexible. The ECB is not experiencing operational difficulties in conducting the asset purchases. Concerns about bond scarcity is "premature." “In response to a question, Draghi noted that the ECB has continued to support Greek banks through ELA, which it is wiling to do provided the banks are solvent and they have collateral. The ECB's exposure is 110 bln euros, which is most relative to the country's GDP.“ OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 15,2015 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 15, 2015 Author Share Posted April 15, 2015 Draghi tries to temper the ‘taper-tantrum’ – ING FXStreet (Barcelona) - Carsten Brzeski of ING, argues that although Draghi would have tried to temper the possibility of an early tapering by the ECB, the present fall in EUR and the expected rise in inflation implies it would be challenging for him to temper the speculations in the markets and within the ECB when the Eurozone recovery unfolds. Key Quotes “In the days leading to today’s meeting, some market participants had started to discuss the possibility of an early tapering, an end of QE earlier than the officially intended deadline of September 2016. One reason for this discussion is actually the success of QE which has pushed down the euro exchange rate.” “At its current level, the weak euro would mechanically add another 0.4%-points to inflation, bringing headline inflation above 2% in 2017. This could already happen at the June meeting, when the ECB will present the next staff projections.” “During the press conference, Draghi tried everything he could to temper the taper discussion. According to Draghi, the tapering discussion was premature. And we totally agree with him. Draghi did not get tired of repeating that the full implementation of QE was required to “provide the necessary support to the euro area recovery”.” “Moreover, a new sentence in the ECB’s introductory statement clearly tried to temper tapering phantasies: “When carrying out its assessment, the Governing Council will follow its monetary policy strategy and concentrate on trends in inflation, looking through unexpected outcomes in measured inflation in either direction if judged to be transient and to have no implication for the medium-term outlook for price stability”.” “In our view, this sentence is just ECB language for saying that the ECB can do whatever it wants and use whatever indicator it wants to use to determine the end of QE.” “All in all, ECB president Draghi clearly tried to temper any taper discussion. Whether he will succeed, is uncertain.” “If the recovery really unfolds and inflation forecasts start to pick up, Draghi will not only have to temper taper speculations in the market but, even more challenging, within the ECB itself.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 15,2015 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 15, 2015 Author Share Posted April 15, 2015 CNY stronger, soft data spurs rumours of further stimulus – Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, notes that the slowing Chinese growth has spurred in expectations for further easing measures by the PBoC. Key Quotes “CNY is strong, but trading within its recent range. China’s Q1 GDP came in as expected at 7.0%y/y, the lowest level in six years. The March data was generally disappointing, including today’s retail sales and industrial production, growing at 10.2%y/y and 5.6%y/y, respectively. The data has been enough to increase concerns over China’s growth outlook and spur some early rumours of stimulus.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 15,2015 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 15, 2015 Author Share Posted April 15, 2015 Draghi elaborates on their goal to continue QE – TDS FXStreet (Barcelona) - With ECB providing only minimal tweaks to the previous message, Richard Kelly, Head of Global Strategy, TD Securities, highlights the key interesting changes by the central bank council. Key Quotes “In terms of the interesting changes within the prepared remarks, the Governing Council: Upgraded the risks to economic growth from “downside but have diminished” to “more balanced” so the trends continue to move in the right direction. Elaborated on their goal to continue QE until they see a “sustained adjustment in the path of inflation” consistent with the target, to now noting that they are looking at “trends in inflation” which means they will look through any transient noise.” “Much of today revolved around anything new he might have seen after a full six weeks of buying and on this, Draghi suggested zero concerns with implementation, all as expected. He said that scarcity worries are “exaggerated” and at the very least “premature.” The latter suggests Draghi could envisage a scenario where liquidity in EGB markets somewhere becomes an issue, but it is not something that will drive policy until it is likely or materializes.” “He said that a protracted period of time of very low interest rates could be conducive to financial instability but so far they have not seen any sign of a bubble. He then went on to note that even if they did sense these risks coming, they would be dealt with by macroprudential measures, rather than seeing this as a reason to change QE.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 15,2015 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 15, 2015 Author Share Posted April 15, 2015 USD/JPY favouring the downside – FXStreet FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes technicals suggest that USD/JPY might see further declines in the shorter-term, with the nearest support at 119.20 and resistance at 119.45. Key Quotes “The Japanese yen strengthens against its American rival, with the pair posting fresh daily lows in the 119.20 region.” “Short term, the 1 hour chart shows that the price is developing below its moving averages, whilst the technical indicators are accelerating their decline below their mid-lines, all of which favors further declines.” “In the 4 hours chart the technical indicators maintain a strong downward momentum as the price extends below its moving averages, supporting the shorter term view.” “Support levels: 119.20 118.80 118.50” “Resistance levels: 119.45 119.90 120.20” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 15,2015 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 16, 2015 Author Share Posted April 16, 2015 USD/CAD dips below 1.2230 FXStreet (Edinburgh) - The US dollar extends the drop vs. its Canadian counterpart on Thursday, sending USD/CAD to lows near 1.2230. USD/CAD in multi-week lows The pair is trading in levels last seen in late January around 1.2230, against the backdrop of increasing USD-weakness after Building Permits, Housing Starts and Initial Claims missed consensus today. In the opinion of strategists at TD Securities, “The USD is overbought and over-loved, making it vulnerable to violent shakeouts on negative data surprises. Indeed, short-term correlation studies indicate that the relationship between DXY and data surprises has tightened in recent weeks. As such, every data release could become magnified”. USD/CAD levels to watch At the moment the pair is losing 0.56% at 1.2222 and a breakdown of 1.2100 (psychological level) would aim for 1.2062 (high Jan.19) and then 1.1940 (low Jan.20). On the upside, the initial hurdle lines up at 1.2350 (38.2% of 1.1565-1.2835) ahead of 1.2353 (low Feb.3) and finally 1.2400 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 16,2015 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 16, 2015 Author Share Posted April 16, 2015 Japan headline inflation might pick up by end-2015 – BNPP FXStreet (Barcelona) - Raymond Van der Putten of BNP Paribas, expects Japanese headline inflation to gradually pick up by end-2015 and reach BoJ’s 2% target in the course of 2016. Key Quotes “Some fear that aggressive monetary easing could ultimately lead to hyperinflation. For the moment, there are not many signs of inflation picking up. On the contrary, inflation has been declining following the decline in oil prices.” “Hence, some hold the opposite view and argue that the BoJ should step up its asset purchase programme to prevent the return of a deflationary mind set.” “In our opinion, underlying inflation should gradually pick up in the coming quarters as the output is closed. This movement is strengthened by the rise in long-term inflation expectations towards the BoJ’s 2% objective.” “By end 2015, as the effect of falling oil prices dissipates, headline inflation will pick up again. Inflation may reach the 2% target in the course of 2016.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 16,2015 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 17, 2015 Author Share Posted April 17, 2015 USD/CAD pierced 1.2100 on data FXStreet (Edinburgh) - The Canadian dollar is advancing further on Thursday, sending USD/CAD to briefly test sub-1.2100 levels. USD/CAD in multi-week lows Spot is trading in levels last seen in late January after Canadian Retail Sales surprised investors to the upside in February, expanding 1.7% MoM and 2.0% MoM excluding Autos. Canadian consumer prices followed suit, rising at an annual pace of 1.2% while the BoC Core print rose 2.4% on a yearly basis. In the US calendar, headline CPI contracted 0.1% on a year to March, while Core prices surpassed expectations rising 1.8% YoY. Next on tap will be the CB Leading Indicator and the preliminary gauge of the Reuters/Michigan index. USD/CAD significant levels At the moment the pair is losing 0.55% at 1.2122 and a breakdown of 1.2085 (low Apr.17) would aim for 1.2062 (high Jan.19) and then 1.1940 (low Jan.20). On the upside, the initial hurdle lines up at 1.2250 (high Apr.17) ahead of 1.2350 (38.2% of 1.1565-1.2835) and then 1.2353 (low Feb.3). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 17,2015 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 17, 2015 Author Share Posted April 17, 2015 BoC unlikely to cut rates year, short USD/CAD – Growth Aces FXStreet (Barcelona) - The Growth Aces Research Team expects BoC to maintain rates steady throughout 2015, and further suggests going short on USD/CAD for 1.2000. Key Quotes “We maintain our forecast that the Bank of Canada will not cut interest rates this year. However, some market participants still expect such a move. That is why on-hold BOC policy should support the loonie.” “In our opinion the USD/CAD is likely to decline in the medium term and we are looking to get short on upticks for 1.2000.” “Resistance: 1.2205 (session high Apr 17), 1.2300 (psychological level), 1.2328 (high Apr 16)” “Support: 1.2100 (psychological level), 1.2064 (low January 21), 1.2000 (psychological level)” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 17,2015 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 17, 2015 Author Share Posted April 17, 2015 EUR/USD dips to lows near 1.0730 FXStreet (Edinburgh) - The shared currency is now losing its shine, dragging EUR/USD to challenge session lows in the 1.0730 region. EUR/USD weaker after US data The pair shed over a big-figure from session peaks in the mid-1.0800s following the better-than-expected CPI data in the US economy during March, giving at the same time the beleaguered dollar a relieving dose of oxygen. In the broader picture, the pair keeps ignoring the worrisome prospects from the Greek economy in light of the slew of repayments due in May and the worrying silence emanating from the Greek officials. EUR/USD key levels The pair is now retreating 0.04% at 1.0757 with the immediate support at 1.0613 (100-h MA) would open the door to 1.0571 (low Apr.15) and finally 1.0532 (low Apr.14). On the flip side, a break above 1.0842 (high Apr.17) would open the door to 1.0887 (high Apr.8) and then 1.0947 (high Apr.7). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 17,2015 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 17, 2015 Author Share Posted April 17, 2015 EUR/USD dips to lows near 1.0730 FXStreet (Edinburgh) - The shared currency is now losing its shine, dragging EUR/USD to challenge session lows in the 1.0730 region. EUR/USD weaker after US data The pair shed over a big-figure from session peaks in the mid-1.0800s following the better-than-expected CPI data in the US economy during March, giving at the same time the beleaguered dollar a relieving dose of oxygen. In the broader picture, the pair keeps ignoring the worrisome prospects from the Greek economy in light of the slew of repayments due in May and the worrying silence emanating from the Greek officials. EUR/USD key levels The pair is now retreating 0.04% at 1.0757 with the immediate support at 1.0613 (100-h MA) would open the door to 1.0571 (low Apr.15) and finally 1.0532 (low Apr.14). On the flip side, a break above 1.0842 (high Apr.17) would open the door to 1.0887 (high Apr.8) and then 1.0947 (high Apr.7). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 17,2015 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 17, 2015 Author Share Posted April 17, 2015 Central banks take action for a possible Greek contagion – TradeTheNews FXStreet (Barcelona) - The TradeTheNews Team comments on the key developments surrounding Greece, noting that Greece banking units overseas have been asked to exit any Greek sovereign debt. Key Quotes “Greece banking units overseas said to have been asked to exit Greek sovereign debt. Central banks in southeastern European countries (in cooperation with the ECB) had given the instructions. The order relates to Greek government bonds and T-bills and also relates to deposits in parent Greek banks and loans to lenders based in Greece. The move by the central banks was aimed at supporting their national banking systems if there was a Greek accident or contagion.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 17,2015 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 17, 2015 Author Share Posted April 17, 2015 Shifting risks to global financial stability – BNPP FXStreet (Barcelona) - Yves Nosbusch of BNP Paribas, comments on the new and ‘rotating’ risks to global financial stability, as highlighted in IMF’s Global Financial Stability Report. Key Quotes “A day after the publication of the World Economic Outlook on 14 April 2015, the IMF has released the latest version of its Global Financial Stability Report (GFSR). The world economy has been hit by three major shocks over the last few months: the fall in the oil price as well as many other commodity prices, significant exchange rate movements for the main currencies, and the start of Quantitative Easing by the European Central Bank.” “The fall in commodity prices and the sharp appreciation of the dollar have shifted risks from advanced economies to emerging markets, particularly commodity exporters and those sectors/countries that have accumulated significant levels of dollar-denominated debt.” “While the World Economic Outlook concluded that these shocks were positive overall for global growth, the GFSR stresses the point that they have also increased risks to global financial stability.” “More specifically, risks to global financial stability have shifted along three main dimensions: from advanced to emerging economies, from banks to non-banks, and from solvency to liquidity issues.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 17,2015 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 17, 2015 Author Share Posted April 17, 2015 GBP/USD might consolidate – FXStreet FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes technicals suggest that GBP/USD might see some consolidate above 1.4950 levels. Key Quotes “The British Pound surged above the 1.5000 figure for the first time in a month, as UK's employment data showed that the unemployment rate fell to its lowest in almost seven years, while wages ticked higher, and the number of people in employment rose by 248K in the 3 months ending February.” “Having set a daily high at 1.5053, the pair is now hovering around the 1.5000 figure on the back of US's inflation readings, and with the 1 hour chart showing that the technical indicators are correcting lower from overbought levels, albeit the price remains well above a bullish 20 SMA, limiting chances of a strong decline.” “In the 4 hours chart the price stands well above its 200 EMA, currently at 1.4910, while the technical indicators are beginning to look exhausted near overbought levels, all of which supports a limited at least some consolidation above 1.4950, ahead of a new leg up.” “Support levels: 1.4950 1.4910 1.4880" “Resistance levels: 1.5000 1.5040 1.5085” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 17,2015 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 17, 2015 Author Share Posted April 17, 2015 USD/JPY fails to sustain gains FXStreet (Córdoba) - USD/JPY eased from daily highs and briefly dropped below the 119.00 level following the latest string of mixed US data data. The Reuters/Michigan Consumer Sentiment Index rose to 95.9 in April, according to the preliminary estimate, beating expectations of 94. However, the CB leading index rose 0.2% in March, below the 0.3% expected, with the weakest component being building permits. USD/JPY dropped to a session low of 118.90 before finding support. The pair had scored a daily high of 119.25 underpinned by US CPI data but the dollar was unable to keep the buying interest for long. At time of writing, dollar-yen is trading at 119.03, virtually unchanged on the day. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 17,2015 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 17, 2015 Author Share Posted April 17, 2015 NZD/USD: Neutral RSI, positive postion on charts FXStreet (Guatemala) - NZD/USD is currently trading at 0.7676 with a high of 0.7698 and a low of 0.7577. NZD/USD has given ground back to the bears but, on the charts positioning the bird is still well within positive territory, surfing along the highs for April. US data today was a near miss on the CPI's, slightly higher core mind you, and determined as ultimately in line and positively on track. Favourable consumer confidence result in the Reuters/Michigan sentiment index. With it being weekend, positions getting squared up will be pulling in the dollar somewhat also. Technically, however we are in to neutral territory readings, with RSI (14) on the hourly chart reading at the mid point. Imre Speizer expects, over a three mont term, that the bird will drop back lower to at least 0.72 . "NZ economic data should soon reflect a mid-year dip. Importantly, CPI is expected to be below zero for Q1 when it is released on 20 April. Then on 30 April, the RBNZ is likely to note concern regarding the high trade-weighted NZD (second chart). Q1 GDP (released in June) should also be weak (drought effects). While NZ economic data softens during the next few months, US economic data is poised to surprise positively". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 17,2015 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 20, 2015 Author Share Posted April 20, 2015 Japan leaves economic assessment unchanged, going short on USD/JPY – Growth Aces FXStreet (Barcelona) - The Growth Aces Research Team comments on the key developments in the Japanese market, and further maintains a bearish outlook on USD/JPY, targeting 117.20 levels. Key Quotes “Japan's government kept its overall assessment of the economy unchanged on Monday, noting a moderate recovery trend as factory output is picking up on the back of improving corporate activity. In its monthly economic report, the government also kept unchanged its assessment of consumer spending, capital expenditure and exports, as the economy stabilises after a recession unexpectedly caused by a sales tax hike last April.” “The report comes ahead of a closely watched Bank of Japan meeting on April 30 where the central bank will update its forecasts for consumer prices and inflation.” “Bank of Japan Governor Haruhiko Kuroda said on Sunday that financial markets could be surprised if the central bank hits its 2% inflation target in 2016 and interest rates in Japan start to rise as a result.” “Kuroda said the BOJ expects inflation in Japan to gradually accelerate later this year as the impact of lower oil prices becomes less of a factor in the data.” “The monthly Tankan survey showed that confidence among Japanese manufacturers slid for the first time in three months in April. Sentiment index for manufacturers fell to 12 in April from 16 in the prior month. However, the service-sector index rose to 25 from 21 in March, led by sectors such as retailers, real estate, construction and information, communications.” “We are looking to go short on the USD/JPY at 119.35. If the order is filled, the target will be 117.20.” “Resistance: 119.26 (high Apr 17), 119.48 (high Apr 16), 119.62 (21-dma)” “Support: 118.53 (session low Apr 20), 118.33 (low Mar 26), 118.30 (low Feb 20)” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 20,2015 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 20, 2015 Author Share Posted April 20, 2015 USD/JPY extends gains above 119.00 FXStreet (Córdoba) - USD/JPY gained momentum during the American session and broke above 119.15. The pair printed a fresh daily high at 119.35, hitting the highest level since last Thursday. The pair is rising for the first time after posting losses during the previous six trading days. The US dollar was able to make a reversal after falling earlier to 118.52 (3-week low). From the lows it has risen 80 pips as stocks in Wall Street rise more than 1% on average. USD/JPY near important short term resistance The recent rally brought the pair near the 119.40 area, that is an important short term resistance, that capped the upside several times last week. Above here the next resistance could be located at 119.70 (Apr 13 low) and 120.00. On the opposite direction support might lie at 118.75, 118.55 (daily low) and 118.30/35 (March 26 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 20,2015 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 20, 2015 Author Share Posted April 20, 2015 EUR/GBP: Stalling through the pivot on 0.72 handle FXStreet (Guatemala) - EUR/GBP is currently trading at 0.7216 with a high of 0.7245 and a low of 0.7185. EUR/GBP has seen some two way traffic but has been overall better bid and scoring the high recently having worked its way out of bearish territory on the 0.71 handle and now through the pivot on the 0.72 handle. The euro is resilient and has performed gains across the board at the start of the week while the calendar is relatively quiet up ahead for the EZ. From the UK this week, however, we have BoE Minutes on Wednesday, Retail Sales on Thursday, and the Election Campaign that is ongoing. Technically,Karen Jones, chief analyst at Commerzbank suggests that only if a rise and daily chart close above the 0.7408 January low were to be made, there could be room for further upside towards the 0.7500 region to be seen. "Currently we view the low at 0.7015 as an interim low and look for some stabilisation and recovery short term." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 20,2015 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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