OctaFX_Farid Posted September 28, 2015 Author Share Posted September 28, 2015 GBP/USD trims gains, falls back to 1.52 handleFXStreet (Mumbai) - Offered at 1.5241, the GBP/USD pair now trades just above 1.52 handle as losses in the European stocks capped demand for Sterling and other risk assets.Offered near key Feb resistanceThe GBP bulls faced exhaustion as the pair neared 1.5248, which is the 50% retracement of the rally witnessed since April to June. The European stock markets suffered losses on the first trading day of the weak, stoking demand for the safe haven assets. Sterling pared gains, but so far has managed to stay in the positive territory around 1.52 handle.Heading into the US session, the investors take a note of Fed speak and US personal spending and income report due later today.GBP/USD Technical LevelsThe immediate resistance is seen at 1.5248 (50% of Apr-June rally), above which the pair could rise to 1.53 levels. On the downside, support is seen at 1.5163 (Sep 4 low) and 1.5135 (Friday’s low).Sep 28,2015OctaFX.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 September 29, 2015 Author Share Posted September 29, 2015 Euro: Set to bounce before the ECB – SocGenFXStreet (Delhi) – Research Team at Societe Generale, suggest that there are several factors suggesting that the next three weeks could offer the opportunity to trade a EUR/USD tactical rebound towards 1.14-1.15. The technical picture is asymmetrical on the bullish side, Eurozone PMIs are resilient, the dovish ECB is certainly discounted, the risk of a US government shutdown won’t help the dollar, and the EM sell off is prompting investors to put cash in safe currencies.Key Quotes“We recommend a 3W topside exotic trade to get leverage between 1.13 and 1.1550.”“Volkswagen’s woes should not be a lasting euro engine: The scandal certainly has weighed on the euro lately, via the threat that the crisis hitting the world’s second-largest carmaker could hit the German economy. After a dramatic 30% fall to 2012 lows, Volkswagen shares seem to have stopped falling and traded volumes are now diminishing.“Dovish ECB probably in the price: The ECB stance is certainly the main bearish euro factor for the coming weeks. Our economists expect the ECB to be dovish (weaker inflation outlook), but with still ample evidence of resilience in the euro area economy, as witnessed by resilient September PMIs, it is still too early for the ECB to act. Fed inaction and China weakness are not necessarily a signal for the ECB to do more.”Sep 29,2015OctaFX.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 September 29, 2015 Author Share Posted September 29, 2015 Rate hike coming in 2015, Fed’s Dudley and Williams - Deutsche BankFXStreet (Delhi) – Research Team at Deutsche Bank, note that the two Fed officials pointed towards 2015 lift-off in their speeches yesterday while Chicago Fed President Evans said that mid-2016 will be appropriate timing for the rate hike cycle to begin.Key Quotes“Although noting that his expectation on timing was ‘not calendar guidance’ and instead ‘depends on the data’, the NY Fed President said that ‘my expectation is that we probably will raise interest rates later this year’, citing confidence that the inflation target will be hit sometime next year.”“This was followed by a much more dovish tone from Chicago Fed President Evans who said that while the Fed is getting closer to liftoff, still noted that he has mid-2016 in his projections. In particular Evans noted that in his view it will be around that time that ‘the headwinds from lower energy prices and the stronger dollar dissipate enough so that we begin to see some sustained upward movement in core inflation’.”“Meanwhile and speaking after markets closed, San Francisco Fed President Williams reiterated his call for liftoff sometime this year, although noted risks to this from dollar appreciation and stuttering growth abroad.”Sep 29,2015OctaFX.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 September 29, 2015 Author Share Posted September 29, 2015 Treasuries aren’t buying what Yellen is saying on inflationFXStreet (Mumbai) - The action in the treasury markets in the US indicates the bond traders do not believe what is being told to them about the inflation trajectory by the US Fed officials.Last week, Yellen the Fed expects inflation to gradually rise back near 2%. Williams said on Monday he expects the Fed to increase rates this year. New York Fed President William C. Dudley said the central bank will probably act in 2015 and move rates higher gradually thereafter.However, the treasures signal inflation expectations in the US are tumbling, with long- and short-term market forecasts for price gains down to their lowest levels since 2009.Break even rate at lowest in 6 yearsThe difference between yields on five-year notes and similar-maturity Treasury Inflation Protected Securities (TIPS) , a gauge of expectations for consumer prices, fell below 1 percentage point Monday.Moreover, the TIPS clearly shows the inflation expectations are moving in line with the drop in the commodity and stock prices. Sep 29,2015OctaFX.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 September 29, 2015 Author Share Posted September 29, 2015 European Monetary Union Business Climate above expectations (0.2) in September: Actual (0.34)FXStreet.com (Barcelona) For more information, read our latest forex news.Sep 29,2015OctaFX.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 September 29, 2015 Author Share Posted September 29, 2015 IMF: Inching closer to include renminbi in SDR basket – MUFGFXStreet (Delhi) – Lee Hardman, Currency Strategist at MUFG, notes that the FT has reported today that the IMF is creeping closer to including the renminbi in their Special Drawing Rights basket as the US and other major shareholders are likely to back the move unless the IMF staff’ makes a surprise recommendation against the renminbi’s inclusion.Key Quotes“The remaining technical hurdles are reportedly concerns over China’s heavy-handed intervention in markets and poor communication of reforms which are causing nervousness at the IMF.”“The caution has reportedly prompted some IMF staff to raise the possibility that the vote by the fund’s board could be delayed from November into early next year to give China more time to deliver reforms and build credibility.”“However, a potential delayed decision would raise questions over whether China is receiving special treatment. Chinese President Xi Jinping reassured US officials last week that there is no basis for the renminbi to have a devaluation in the long run and thanked the US for their conditional support for China’s bid to have it included in the SDR basket.” Sep 29,2015OctaFX.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 September 30, 2015 Author Share Posted September 30, 2015 Austria Producer Price Index (YoY) down to -1.5% in August from previous -1.1%FXStreet.com (Barcelona) For more information, read our latest forex news. Sep 30,2015OctaFX.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 September 30, 2015 Author Share Posted September 30, 2015 USDCAD: GDP increase likely to break string of five consecutive declines – TDSFXStreet (Delhi) – Prashant Newnaha, Rates Strategist at TD Securities, suggests that Canadian industry-level real GDP is forecast to have increased by 0.2% m/m in July and this forecasted gain would build on the 0.5% monthly pop in June which in turn broke the streak of five consecutive monthly declines.Key Quotes“Growth should be supported in large part by the manufacturing industry and the temporary lift from the PanAm games. Activity elsewhere is expected to be more subdued, with a soft performance expected from the real estate sector and in retail sales.”“The rebound in growth to start Q3—currently tracking around 2.2-2.5%—will help eclipse the Bank of Canada’s very conservative 1.5% annualized forecast which will provide ample justification to keep the overnight rate on hold.” Sep 30,2015OctaFX.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 September 30, 2015 Author Share Posted September 30, 2015 USD/JPY at fresh highs amid risk-on rally in equitiesFXStreet (Mumbai) - The risk-on rally in the European equities reduced the demand for the Yen and other traditional safe haven assets, thereby ensuring the USD/JPY pair extended gains to print a fresh session high of 120.22 levels.Trades above hourly 200-MAThe spot sits comfortably above its hourly 200-MA located at 120.07 levels. The risk-on seen in Europe pushed the Yen lower across the board and pushed the treasury yields higher. The pan-European Euro Stoxx 600 index strengthened more than 1%.Ahead in the day, the focus is likely to be on the US ADP employment report, which could show the private sector in the US added 190K jobs in September. Apart from that, the sentiment on the Wall Street could influence the pair as well.USD/JPY Technical LevelsThe immediate resistance is seen at 120.60 (Monday’s high), above which the pair could target 120.88 (200-DMA). On the other side, support is seen at 119.68 (daily low) and 119.00 levels. Sep 30,2015OctaFX.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 September 30, 2015 Author Share Posted September 30, 2015 EUR/GBP cracks 0.7300 on UK dataFXStreet (Mumbai) - The cross in the EUR/GBP extended losses and hammered through 0.73 barrier, following the release of the UK’s GDP report and the current account data.EUR/GBP breaks below hourly 50-MACurrently, the EUR/GBP pair falls -0.42% to fresh session lows of 0.7392, failing to resist the hourly 50-MA then located at 0.7405. The EUR/GBP cross accelerated to the downside as the pound was boosted across the board after the UK Q2 GDP showed solid growth momentum while the current account deficit narrowed in the second quarter.The ONS showed that the UK's GDP stood solid in the second quarter, remaining at 0.7% q/q. While the current account deficit narrowed to GBP16.8 billion in Q2, down from a revised deficit of GBP24 billion in previous quarter.The cross remains pressured also on EUR/USD weakness as dismal German datasets continue to weigh on the investors’ sentiment. Meanwhile, focus now shifts towards the EZ CPI and employment data due later today for further momentum.EUR/GBP Technical LevelsTo the upside, the next resistance is located at 0.7431 (Today’s High) levels and above which it could extend gains to 0.7487 (May Highs) levels. To the downside immediate support might be located at 0.7333 (Sept 28 Low) below that at 0.7292 (Sept 11 Low). Sep 30,2015OctaFX.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 September 30, 2015 Author Share Posted September 30, 2015 GBP/JPY above hourly 100-MA after UK GDP dataFXStreet (Mumbai) - The GBP/JPY pair quickly jumped to trade above its hourly 50-MA located at 182.44 levels even though the annualised Q2 GDP figure was revised lower by the UK Office for National Statistics.Technical correction amid risk on rallySterling is witnessing a technical correction after the ONS left the growth rate unchanged at 0.7% q/q. Meanwhile, the Japanese Yen is under pressure on account of the risk-on rally in the European equity markets. Even the US index futures are trading in the green.Consequently, the stage appears set for the GBP/JPY to witness a technical correction after having shed more than 700 pips in last six trading sessions.GBP/JPY Technical LevelsThe pair clocked a high of 182.70, before falling back slightly to trade around 182.50. The immediate resistance is located at 182.53 (5-DMA), followed by a major hurdle at 183.31 (Sep 29 high). On the other side, support is seen at 180.95 (Tuesday’s low) and 180.36 (Sep 7 low). Sep 30,2015OctaFX.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 September 30, 2015 Author Share Posted September 30, 2015 EUR/USD muted on EMU’s CPIFXStreet (Edinburgh) - The European currency kept the composure after the release of EMU’s CPI figures, with EUR/USD hovering over the 1.1230/20 band.EUR/USD in red above of 1.1200The pair remained within the recent range despite consumer prices in the euro area have disappointed expectations, with CPI contracting at an annual pace of 0.1% vs. forecasts for a flat reading and down from July’s 0.1% advance. The core print stayed put at 0.9%, matching estimates.Further releases have seen the unemployment in the euro bloc ticking higher to 11.0% during August, up from the 10.9% previous and initially forecasted. Next of relevance in the pair will be the ADP Employment Change (195K exp.) followed by the speech by Chairwoman J.Yellen.EUR/USD levels to watchAs of writing the pair is losing 0.18% at 1.1227 and a breakdown of 1.1194 (low Sep.29) would aim for 1.1146 (low Sep.28) and then 1.1105 (low Sep.23). On the other hand, the initial resistance aligns at 1.1281 (high Sep.29) followed by 1.1296 (high Sep.24) and finally 1.1330 (high Sep.21). Sep 30,2015OctaFX.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 September 30, 2015 Author Share Posted September 30, 2015 GBP/USD extends the UK GDP-rally towards 1.5200 FXStreet (Mumbai) - The bid tone around the GBP/USD pair remains intact in the mid-European trades, as the cable continues to benefit from the improving risk-on moods and also from solid economic growth confirmed in the UK.Holds above hourly 50-MAThe GBP/USD pair trades 0.24% higher at fresh session highs of 1.5188, finding good support at hourly 50-MA. The cable bounced-off from close to multi-month lows and rallied more than 50 pips after the markets cheered the latest UK Q2 GDP report (confirmed at 0.7%).Moreover, the favourable risk conditions amid rallying European stocks, boosts the appetite for riskier currencies such as the GBP. The pan-European benchmark, the Euro Stoxx 50 jumps nearly 2.50% while the UK’s FTSE is up 2%.Meanwhile, the upcoming US datasets including the US ADP employment report and the Chicago PMI will influence GBP/USD. While the Fed Chair Yellen’s speech will be also closely eyed.GBP/USD Levels to considerThe pair has an immediate resistance at 1.5208 (Sept 29 High) above which gains could be extended to 1.5243 (Sept 28 High) levels. On the flip side, support is seen at 1.5126 (Sept 29 Low) below which it could extend losses to 1.5100 levels. Sep 30,2015OctaFX.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 September 30, 2015 Author Share Posted September 30, 2015 USD/JPY rangebound within 118.60-120.90 – OCBC FXStreet (Edinburgh) - FX Strategist at OCBC Bank Emmanuel Ng expects USD/JPY to remain in a consolidative range between 118.60 and 120.90.Key Quotes“Look to the 3Q 15 Tankan late Wed/early Thursday with the surprise -0.5% mom contraction in Aug industrial production likely to keep the pair supported within a 118.60-120.90 range barring a further meltdown in risk appetite”.“In the interim, any sustained departure from the 120.00 handle may require either risk appetite or USD-centric headlines”. Sep 30,2015OctaFX.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 September 30, 2015 Author Share Posted September 30, 2015 BOJ: Investors awaiting the policy response in lieu of risk of recession – BBHFXStreet (Delhi) – Research Team at BBH, suggest that investors in Japan are focused on the likely policy response to the downdraft in the data.Key Quotes“The risk of a recession (defined as two quarters of contraction) is heightening speculation of a supplemental budget (though Prime Minister Abe has played this down) and changes in the BOJ's asset purchases.”“A recent Bloomberg survey shows that about a third of the respondents expects the BOJ to step up its efforts (from JPY80 trillion a year) as early as next month.” Sep 30,2015OctaFX.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 October 1, 2015 Author Share Posted October 1, 2015 EUR/USD keeps lows around 1.1140 on PMIsFXStreet (Edinburgh) - The shared currency remains entrenched in the negative territory in the second half of the week, taking EUR/USD to the mid-1.1100s so far.EUR/USD lower on risk-on tradeAuspicious prints from the Chinese manufacturing PMI have sparked a wave of risk appetite early in the day, hurting the demand for EUR and prompting spot to extend the ongoing correction lower to the 1.1140/35 band.The final figures of the manufacturing PMIs in Euroland for the month of September have come in mixed today, intensifying the downside pressure on the pair.In the data space, the ISM Manufacturing is taking centre stage across the pond, seconded by Markit’s manufacturing PMI, Initial Claims and the speech by FOMC member Williams.EUR/USD levels to watchAs of writing the pair is losing 0.27% at 1.1143 and a breakdown of 1.1116 (low Sep.25) would aim for 1.1105 (low Sep.22) and then 1.1057 (low Aug.12). On the other hand, the initial resistance aligns at 1.1260 (high Sep.30) ahead of 1.1281 (high Sep.29) and finally 1.1296 (high Sep.24). Oct 01,2015OctaFX.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 October 1, 2015 Author Share Posted October 1, 2015 EUR/USD recovers to 1.1165 as EU stocks rally fizzlesFXStreet (Mumbai) - The EUR/USD pair found fresh bids just below the 100-DMA then located at 1.1140 levels and attempts a weak recovery as the European stocks take a breather in their rally, with markets digesting a set of dismal PMIs from the Euro zone.Heads towards daily highsThe EUR/USD pair trades -0.18% lower at 1.1157, recovering from fresh weekly lows struck at 1.1136 levels post the PMIs. The offered tone around the EUR/USD pair eased a bit as the stocks on the European indices halted their upsurge and retreated from highs, in a delayed reaction to the weak German and EU manufacturing PMI reports.The pan-European benchmark, the Euro Stoxx 50 now trades 0.77% higher at 3,124, retreating from 3,142 .50 highs. While the DAX also drops from 9,786 highs and trades +0.46% at 9,700 levels.On the data space, the final manufacturing PMI for the euro zone came in at 52.0 points in the ninth month of the year, and below August's reading of 52.3, although matched estimates. While Germany’s final PMI for manufacturing sector fell to 52.3 in Sept, down from August's final reading of 53.3 points, against 52.5 expectations.Later in the day, attention turns towards a slew of US macro data including the ISM manufacturing survey, weekly jobless claims and construction spending data for fresh incentives.EUR/USD Technical Levels The pair has an immediate resistance at 1.1179 (Today’s High), above which gains could be extended to 1.1204 (50-DMA) levels. On the flip side, support is seen at 1.1100 (Psychological levels) below which it could extend losses to 1.1079 (200-DMA) levels. Oct 01,2015OctaFX.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 October 1, 2015 Author Share Posted October 1, 2015 EUR: ECB easing speculations bolstered by dipping inflation – MUFGFXStreet (Delhi) – Lee Halpenny, Currency Strategist at MUFG, notes that the speculations about further easing from the ECB has been strengthened by the falling inflation in the Eurozone as the euro has weakened modestly driven both by the tentative improvement in the global investor risk sentiment.Key Quotes“The release of the weaker than expected inflation report from the euro-zone revealed that the annual rate of headline inflation fell back into negative territory declining by 0.2 percentage point to -0.1% in September. However, it was reassuring that the annual rate of core inflation remained stable at 0.9%.”“The ECB has signalled clearly that it has moved closer to easing policy further and is sensitive to downside risks to inflation in the near-term. S&P announced yesterday the most aggressive forecast yet for further ECB stimulus expecting it to extend QE beyond September 2016 and most likely until mid-2018 which could result in total purchases of EUR2.4 trillion which is more than double the original commitment of around EUR1.1 trillion.”“It appears unlikely that the ECB will announce such aggressive easing in the near-term, although S&P’s forecast highlights that the euro still remains subject to downside risks ahead.” Oct 01,2015OctaFX.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 October 1, 2015 Author Share Posted October 1, 2015 EUR/SEK rangebound between 9.30-9.60 – Danske Bank FXStreet (Edinburgh) - Senior Analyst at Danske Bank Sverre Holbek believes the cross could remain trading within the 9.30-9.60 range in the near to medium term.Key Quotes“The improving risk appetite is spilling over into Scandi currencies with in particular EUR/SEK falling sharply”.“We expect that EUR/SEK will continue to respect the 9.30- 9.60 range given the threat of further Riksbank rate cuts”.“Interestingly, FX flow data from Norges Bank for the week including the Norges Bank rate cut last week showed that the weakening of the NOK was far greater than what a historical/statistical relationship would suggest, supporting an underlying liquidity- and risk premium in NOK”.“We expect EUR/NOK to stabilise in coming weeks forecasting EUR/NOK at 9.40 in 1M”. Oct 01,2015OctaFX.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 October 1, 2015 Author Share Posted October 1, 2015 GBP: Narrower current account deficit and stronger growth comes to rescue - MUFGFXStreet (Delhi) – Lee Halpenny, Currency Strategist at MUFG, suggests that the UK pound has underperformed during the current period of heightened risk aversion which has pushed it lower than justified by relative economic fundamentals in our view but the recently released stronger GDP data and narrower current account deficit are likely to support the GBP.Key Quotes“The still favourable relative economic fundamentals were evident again yesterday in the latest UK GDP report which revealed an upward revision to growth. The economic recovery in the UK since the global financial crisis was stronger than initially recorded leaving real GDP at the end of Q2 at 5.9% higher than the peak prior to the global financial crisis compared to the previous estimate of 5.2%.”“There was also a more favourable development in the UK’s current account deficit which narrowed more sharply than expected to 3.6% of GDP in Q2 from 5.2% of GDP in Q1. The narrowing was mainly driven by the trade deficit which reached its lowest level since 1998. The trade balance can be erratic and likely exaggerates the underlying improvement in the current account deficit, which remains elevated and a long-term concern. We still see scope for the pound to regain lost ground ahead.” Oct 01,2015OctaFX.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 October 1, 2015 Author Share Posted October 1, 2015 EUR/USD extends the rebound to 1.1170FXStreet (Edinburgh) - The common currency keeps recovering ground vs. the dollar on Thursday, now pushing EUR/USD to the area of 1.1165/70.EUR/USD a tad better on US dataThe pair has trimmed further its earlier losses after US Initial Claims have ticked higher to 277K in the week ended on September 25th, missing forecasts at 270K and up from 267K recorded in the previous week.In the meantime, market participants keep waiting for the more relevant ISM Manufacturing, expected at 50.6 for the last month, followed by the speech by the President of the Federal Reserve Bank of San Francisco, John Williams.EUR/USD levels to watchAs of writing the pair is losing 0.14% at 1.1159 and a breakdown of 1.1116 (low Sep.25) would aim for 1.1105 (low Sep.22) and then 1.1057 (low Aug.12). On the other hand, the initial resistance aligns at 1.1260 (high Sep.30) ahead of 1.1281 (high Sep.29) and finally 1.1296 (high Sep.24). Oct 01,2015OctaFX.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 October 1, 2015 Author Share Posted October 1, 2015 Brazil HSBC PMI Manufacturing increased to 47 in September from previous 45.8FXStreet.com (Barcelona) For more information, read our latest forex news.Oct 01,2015OctaFX.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 October 2, 2015 Author Share Posted October 2, 2015 NZD: Commodity price index posts first gain in six months – Deutsche BankFXStreet (Delhi) – Darren Gibbs, Chief Economist at Deutsche Bank, notes that the ANZ index of prices for New Zealand’s main commodity exports rose 5.5% mom in September in world price terms – the first increase since March.Key Quotes“As expected the increase was led by the dairy sector (average prices rising 15.1% mom), with partially offsetting contributions from price declines for meat, horticultural, forestry and seafood commodities.”“The index was still down 18.2% yoy but should show some further improvement in October as rising dairy prices continue to feed through. With the NZ dollar weakening in September the NZD-denominated index rose 9.3% mom and was 2.7% higher than a year earlier.”Oct 02,2015OctaFX.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 October 2, 2015 Author Share Posted October 2, 2015 EUR/USD forecast: all eyes on US Payrolls – Commerzbank and Rabobank FXStreet (Edinburgh) - EUR/USD is trading on the softer side on Friday, hovering over the 1.1170 area ahead of US Payrolls for the month of September (203K exp.).Karen Jones, Head of FICC Technical Analysis at Commerzbank, argued spot “has managed to bounce off the 55 day ma at 1.1152 today. The rally will ideally terminate 1.1184/1.1200 and the risk remains for a re-visit of the current September lows at 1.1105/1.1088. Failure at 1.1088 would trigger a move to 2015 uptrend at 1.0968.This remains a key break down point”.Furthermore, Senior Currency Strategist at Rabobank Jane Foley added “a speech by Fed Chair Yellen on September 24 strengthened the odds in favour of a rate hike from the FOMC by the end of the year, in line with our view. Simultaneously the market is speculating that the ECB may be prepared to increase its asset purchasing programme, potentially by the end of the year. In essence this re-establishes the theme of interest rate differentials bearing down on EUR/USD in the coming months and we have maintained our forecast that EUR/USD can head lower towards 1.08 on a 6-months view”.Oct 02,2015OctaFX.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 October 2, 2015 Author Share Posted October 2, 2015 US: World Bank warns against Fed lift-off – Deutsche BankFXStreet (Delhi) – Darren Gibbs, Chief Economist at Deutsche Bank, suggests that the investor’s sentiment was dented by the recent statement from the World Bank President in which he warned against the consequences of Fed lift-off this year.Key Quotes“We suspect that market sentiment wasn’t helped by comments made by World Bank President Jim Yong Kim, who told CNBC that growth will be slow globally, especially in emerging markets, and argued that a Fed rate rise this year would have very serious negative effects for emerging markets. He went on to note that oil and gas producers were already in a terrible situation and that when and if Iranian production comes online he expects the price of oil and gas to fall another $10.”“The overnight dataflow – which we discuss further below – didn’t provide strong direction. We do note that the Atlanta Fed’s ‘GDPNow’ estimate of Q3 GDP growth was cut in half to 0.9% saar, largely on the back of the very weak advance trade data released earlier in the week.”Oct 02,2015OctaFX.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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