OctaFX_Farid Posted November 26, 2013 Author Share Posted November 26, 2013 Flash: EUR/USD resilient between ECB and Fed – Rabobank FXstreet.com (Edinburgh) - Jane Foley, Senior Currency Strategist at Rabobank, commented that the current uncertainties regarding the start of the Fed’s QE tapering and the ‘wait-and-see’ stance in the ECB would likely be behind the EUR/USD resilience. Key Quotes “Insofar as the market remains obsessed with the timing of Fed tapering, threats of further policy action from the ECB have limited power over the direction of EUR/USD”. “Although the Fed did not rule out tapering in December in its October policy meeting, we suspect that the Fed will remain on hold until March and that the USD will take its time in clawing itself back to stronger levels. This implies that the ECB will have little choice but to retain its dovish threats”. “Even so we expect that EUR/USD will remain well supported at least into year end and most likely until it is clear that the Fed are on the brink of tapering. We see risk of EUR/USD holding above the 1.30 area until H2 next year”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 26,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 26, 2013 Author Share Posted November 26, 2013 USD/CAD rejected from 1.0560 FXstreet.com (Edinburgh) - The USD is now losing some ground, dragging the USD/CAD to the area of 1.0540 after hitting session highs near 1.0560 on Tuesday. USD/CAD lower after US data, risk appetite Poor results from the US Consumer Confidence, with the gauge dipping beyond estimates to 70.4 vs. 72.9 for the month of November, collaborated with the current decline, which seems to have found support near 1.0540. The persistence of a risk-on context would be adding to the correction lower as well. According to Sebastien Galy, Strategist at Societe Generale, “The uptrend started in Jan 2013 and is helped by a more dovish BoC (low productivity vs US, risk of a housing correction linked to high debt levels) and probably more importantly a stronger USD. Since the last BoC meeting, the bearish CAD theme has hit a global audience most probably explaining the resilience of USD/CAD to the downside”. USD/CAD levels to watch The pair is now down 0.07% at 1.0542 with the next support at 1.0520 (low Nov.25) followed by 1.0513 (low Nov.22) and then 1.0485 (high Nov.19). On the flip side, a breakout of 1.0558 (high Nov.26) would open the door to 1.0584 (high Nov.25) and finally 1.0586 (high Jul.8). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 26,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 27, 2013 Author Share Posted November 27, 2013 Flash: Sterling exports needs EZ – TDS FXstreet.com (London) - Marcin Budkiewicz, Strategist, Rates and FX Research at TD Securities, noted that there were no shocks in the second print of UK GDP and even in the details were largely in line. Key Quotes: “There was a bigger drag from exports than expected, which can still be another decent boost for the UK should the Eurozone get back to growth”. “The September services numbers were slightly weaker at +0.2% M/M instead of 0.4% M/M, but not enough to meaningfully bias the handoff to Q4”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 27,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 27, 2013 Author Share Posted November 27, 2013 GBP/USD losing 1.63 handle FXstreet.com (London) - The dollar rallied after a number of US data readings beat expectations. GBP/USD is sub 1.6300 again with consumer confidence rebounding 75.1 vs 73.5. Meanwhile, strategists at TD Securities note that decent growth numbers were near consensus however for the UK, and it seems the outsized GBP rally also had a lot to do with a break of key resistance at 1.6240/50. “A close above that level would add to bullish momentum”. GBP/USD Levels The 20 DMA is 1.6073, the 50 DMA is 1.6083 and the 200 DMA is 1.5522. RSI (14) reads 73.76. Supports are ascending from 1.6093, 1.6110,1.6134,1.6168, 1.6210, 1.6241 and 1.6260. Spot is 1.6277 while key resistance is 1.6380 on the upside. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 27,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 27, 2013 Author Share Posted November 27, 2013 USD/CAD out of consolidation? FXstreet.com (London) - USD/CAD has rallied higher on up beat US data and has broken out of the consolidative range of 1.0560 acting as previous resistance. Meanwhile, strategists at TD Securities said there is little on the domestic front (September Average Weekly Earnings) to drive the CAD so focus will remain on external issues and flows. USD/CAD traded heavily earlier in the week as the market backed off the upper 1.05 area but the lack of downside follow-through suggests the market is consolidating, rather than reversing the mid-November rally. We remain bullish on the near and longer-term outlook for funds (we target 1.06 for end 2013… near-term but we think that minor dips remain a buy. USD/CAD Levels The 20 DMA is 1.0468, the 50 DMA is 1.0390 and the 200 DMA is 1.0321. RSI (14) reads 67.50. Supports are ascending from 1.0414, 1.0436, 1.0480, 1.0516, 1.0550. Spot is currently 1.0594 while resistances are 1.0609, 1.0658 and 1.0674. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 27,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 27, 2013 Author Share Posted November 27, 2013 Flash: EUR, year-end squeeze a growing risk - TDS FXstreet.com (London) - A research team at TD Securities said the EUR might have found a modest bid on the back of news that Germany finally has a government but the void since the September election has hardly been a factor in the past couple of months so we doubt the news was that significant for investors. Key Quotes: “Moreover, chatter of further ECB easing steps has not weighed on the EUR at all today. While we remain broadly bullish on the USD outlook over 2014, the risk of a short-term squeeze higher in EUR/USD that we have highlighted remains alive”. “Since 1999, December has been one of the better months of the year for EUR/USD, delivering a near 2.5% average gain. Even when the outsize rally in late 2008 is removed, average gains are still nearly 2%”. “With EUR/USD through the November 20 high (date of the negative depo rate story), the risk of further, near-term EUR gains is rising”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 27,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 28, 2013 Author Share Posted November 28, 2013 EU Business Climate (November): 0.18 vs -0.01 (October) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 28,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 28, 2013 Author Share Posted November 28, 2013 Flash: USD/JPY has 103.74 in it’s sights – UOB Group FXstreet.com (Barcelona) - Quek Ser Leang, Market Strategist at UOB Group comments that the next USD/JPY target at 103.74 will likely come under threat sooner than expected Key Quotes “The high of 102.28 early this morning came close to the bullish target highlighted at 102.53 on Monday.” “The strong upward momentum suggests that a break above this level is likely and the next target at 103.74 (this year’s high) will likely come under threat sooner than expected.” “The key support has moved higher quickly to 101.00 and as long as this level is intact for the next few days, a break of 102.50/55 could be the trigger for a sharp acceleration towards the year’s high at 103.74.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 28,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 28, 2013 Author Share Posted November 28, 2013 AUD/USD extends recovery to fresh highs FXstreet.com (Córdoba) - The AUD/USD has managed to advance Thursday, snapping a 7-day losing streak, supported by rising stocks and domestic data. The AUD/USD regained the 0.9100 mark after stronger than expected Q3 capex data, and following a phase of consolidation below 0.9140, renewed buying took the pair above the 100-hour SMA to a fresh high of 0.9149. At time of writing, the AUD/USD is trading at the 0.9135 zone, recording a 0.6% gain Thursday. AUD/USD levels to watch In terms of technical levels, the AUD/USD could find next resistance levels at 0.9149 (daily high) and the 0.9200/0.9204 zone (psychological level/Nov 26 high), while supports are seen at 0.9064 (Nov 27 low) and 0.9036 (Sep 4 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 28,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 28, 2013 Author Share Posted November 28, 2013 AUD/USD extends recovery to fresh highs FXstreet.com (Córdoba) - The AUD/USD has managed to advance Thursday, snapping a 7-day losing streak, supported by rising stocks and domestic data. The AUD/USD regained the 0.9100 mark after stronger than expected Q3 capex data, and following a phase of consolidation below 0.9140, renewed buying took the pair above the 100-hour SMA to a fresh high of 0.9149. At time of writing, the AUD/USD is trading at the 0.9135 zone, recording a 0.6% gain Thursday. AUD/USD levels to watch In terms of technical levels, the AUD/USD could find next resistance levels at 0.9149 (daily high) and the 0.9200/0.9204 zone (psychological level/Nov 26 high), while supports are seen at 0.9064 (Nov 27 low) and 0.9036 (Sep 4 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 28,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 28, 2013 Author Share Posted November 28, 2013 BoE Carney shifts lending focus from home buyers to SMEs as house prices accellerate FXstreet.com (London) - Bank of England governor Mark Carney today announced that the central bank would be moving to strongly rein in its policy to support mortgage borrowing as house prices begin to further accelerate. The Bank of England launched the Funding for Lending scheme in June last year in tandem with the Treasury to prop-up lending to home buyers and small businesses. Under the Funding for Lending scheme, banks and building societies are able to access cheap credit from the central bank as a carrot to encourage them to lend. However, with the UK economy strongly outperforming forecasts, the BoE is set to pare the scheme back to focus on support for small businesses struggling to gain access to credit. "Although the growth in household loan volumes remains modest, activity is picking up and house price inflation appears to be gaining momentum," wrote Carney in a letter to Chancellor of the Exchequer George Osborne. "We should refocus the FLS so that it continues to support lending to the business sector, without adding further broad support to household lending at a time when that is no longer necessary." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 28,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 28, 2013 Author Share Posted November 28, 2013 Loonie pulls back from current account deficit lows FXstreet.com (London) - The Canadian dollar has recovered some ground after falling to intraday lows at CAD1.0571. USD/CAD has clawed back ground on choppy trading, currently down 0.07 percent at CAD1.0591. The Canadian dollar fell on a report from Statistics Canada showing that the country’s current account deficit narrowed less than expected in the third quarter, with export growth subdued. The Canadian dollar has been hit by a downturn in demand from the US, is biggest trading partner. Canada registered a CAD15.5bn current account deficit in the third quarter, declining from a revised C$15.9 billion second-quarter print, but still coming in higher than anticipated. The weakness in Canadian exports signals that the Canadian dollar may be overvalued, suggesting a longer-term bullish trend against the US dollar. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 28,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 29, 2013 Author Share Posted November 29, 2013 UK November Nationwide Housing Prices n.s.a (YoY) rises to 6.5%; 0.6% (MoM) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 29,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 29, 2013 Author Share Posted November 29, 2013 Flash: EUR/USD buoyed by confidence indicators - OCBC Bank FXstreet.com (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank notes that EUR/USD was buoyed by supportive November confidence indicators. Key Quotes “The pair may continue to capitalize on any potential dollar weakness into the end of the week pending the EZ CPI data release later today.” “EUR/USD upside in the near term continues to show a healthy restraint and the pair may remain capped at 1.3650 with the 55-day MA (1.3554) expected to support on dips.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 29,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 29, 2013 Author Share Posted November 29, 2013 Italy Producer Price Index (MoM) down to -1% in October; -2.2% (YoY) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 29,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 29, 2013 Author Share Posted November 29, 2013 GBP/USD finds support ahead of 1.6300 FXstreet.com (Córdoba) - The GBP/USD found support at the 1.6310 area and halted the downward correction that started after the pair printed a fresh 11-month high of 1.6373. Coupled with a technical correction, the GBP came under pressure during the European session in the wake of disappointing UK mortgage and lending data and slid to a low of 1.6313 versus the USD. However, the GBP/USD managed to bounce and it is currently trading at the 1.6335 zone, virtually unchanged on the day, ahead of an empty (in the data front) NY session. GBP/USD technical outlook From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that GBP/USD maintains the overall bullish tone as, despite extreme overbought readings, corrective movements remain shallow. "Further gains should be expected on price accelerations beyond 1.6380 yearly high, eyeing then the 1.6425/40 area, where the pair presents several daily highs and lows from August/September 2011", says Bednarik. "To the downside, main support comes around 1.6290, and a break below it may favor a downward correction towards 1.6250, albeit this latter should again attract buyers if reached". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 29,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 29, 2013 Author Share Posted November 29, 2013 Flash: AUD/USD to remain under the weather ahead of RBA meet - OCBC Bank FXstreet.com (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank comments that the AUD may continue to feel under the weather ahead of the RBA next Tuesday. Key Quotes “AUD may continue to feel under the weather ahead of the RBA next Tuesday, especially with the growth-linked currencies still out favor with investors in the near term.” “The 0.9000 support remains pivotal although we may expect some capitulation around the 0.9090 area in the interim.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 29,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 29, 2013 Author Share Posted November 29, 2013 Canada: GDP (Sep.) expanded 0.3% MoM FXstreet.com (Edinburgh) - The Canadian economic activity expanded 0.3% on a monthly basis during September. At the same time, the Canadian economic activity expanded at an annual pace of 2.7%, surpassing estimates at 2.5% and the previous 1.6% expansion (revised from 1.7%). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 29,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted November 29, 2013 Author Share Posted November 29, 2013 Canada: GDP (Sep.) expanded 0.3% MoM FXstreet.com (Edinburgh) - The Canadian economic activity expanded 0.3% on a monthly basis during September. At the same time, the Canadian economic activity expanded at an annual pace of 2.7%, surpassing estimates at 2.5% and the previous 1.6% expansion (revised from 1.7%). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Nov 29,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 2, 2013 Author Share Posted December 2, 2013 Flash: Sterling higher ahead of Autumn Statement - Societe Generale Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the pound has broken through key chart levels this morning against EUR, CHF and USD. Key Quotes “We remain short EUR/GBP and long GBP/CHF. RSIs and momentum indicators in GBP/USD look stretched, but we also expect solid PMI data at 9:30 GMT and Thursday’s Autumn Statement is an opportunity for the Chancellor to make optimistic noises about the economic recovery.” “I expect the BOE to go on pouring cold water on the idea of rates going up in 2014,but I also expect an investment bank economic department or two to forecast an ‘earlier than expected ’move.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 02,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 2, 2013 Author Share Posted December 2, 2013 GBP/USD bounces after strong UK manufacturing PMI FXstreet.com (Córdoba) - The GBP/USD rebounded from daily lows after UK Markit Manufacturing PMI came in above forecast in November. UK Markit Manufacturing PMI rose to 58.4 last month from 56.5 printed the previous month (upwardly revised from 56.0) and beating expectations of 56.0. The Cable was lifted toward the 1.6425 area from below 1.6400, although momentum was short-lived and the pair pulled back afterward. At time of writing, GBP/USD is trading at the 1.6405 zone, still up 0.2% on the day. GBP/USD technical outlook From a technical perspective, "The minor corrective pattern below 1.6370 was well bid at 1.6313 low and the uptrend has been renewed, reaching a new local high at 1.6441", said Stoyan Mihaylov, analyst at DeltaStock.com. "The bias remains positive above 1.6385 intraday support, for next leg upwards, toward 1.6613 resistance area. Crucial on the downside is 1.6313 low". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 02,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 2, 2013 Author Share Posted December 2, 2013 GBP/USD bounces after strong UK manufacturing PMI FXstreet.com (Córdoba) - The GBP/USD rebounded from daily lows after UK Markit Manufacturing PMI came in above forecast in November. UK Markit Manufacturing PMI rose to 58.4 last month from 56.5 printed the previous month (upwardly revised from 56.0) and beating expectations of 56.0. The Cable was lifted toward the 1.6425 area from below 1.6400, although momentum was short-lived and the pair pulled back afterward. At time of writing, GBP/USD is trading at the 1.6405 zone, still up 0.2% on the day. GBP/USD technical outlook From a technical perspective, "The minor corrective pattern below 1.6370 was well bid at 1.6313 low and the uptrend has been renewed, reaching a new local high at 1.6441", said Stoyan Mihaylov, analyst at DeltaStock.com. "The bias remains positive above 1.6385 intraday support, for next leg upwards, toward 1.6613 resistance area. Crucial on the downside is 1.6313 low". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 02,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 2, 2013 Author Share Posted December 2, 2013 Strong UK PMI numbers lend further support to earlier breach of BoE unemployment threshold FXstreet.com (London) - Sterling has been given further support by strong manufacturing Purchasing Managers Index numbers. November UK manufacturing purchasing managers’ index numbers came in at 58.4, busting the 56.0 consensus and the highest print since February 2011. Additionally, October’s number was revised up from 56.5 to 56.0. Particularly bullish was the employment component, up to 54.5 from 51.9, continuing to add support to expectations that the unemployment rate will fall below 7 percent in the third quarter 2014 – below the threshold at which the Bank of England will consider hiking rates. The strong employment numbers combined with robust orders from the Eurozone suggest that there may be some potential for upside in wages – one of the few dark clouds on the horizon of the UK economy as real wages remain in decline. GBP/USD is at USD1.6413, up 0.22 percent. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 02,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 2, 2013 Author Share Posted December 2, 2013 Flash: EUR/USD dips below 1.3550. What’s next? – Commerzbank and OCBC Bank FXstreet.com (Edinburgh) - The single currency abandoned the area around 1.3600 at the beginning of the week, with the EUR/USD falling through the 1.3550 level despite the solid PMI data from the euro zone. “The EUR-USD has to contend with a busy data calendar this week as well as the ECB meeting on Thursday. In the interim, an increasingly supported tone may persist, with 1.3653 the next visible resistance while the 55-day MA (1.3558) is expected to offer good support in the current environment”, suggested Emmanuel Ng, Strategist at OCBC Bank. Karen Jones, Head of FICC Technical Analysis at Commerzbank, observed “… near term strength continues to be viewed as corrective and we continue to view the pattern as a potential rising wedge pattern. The top of the pattern is at 1.3627 and a close below 1.3471 will complete it. We look for the 1.3295/94 zone to be retested (current November low and the 50% retracement of the move up from July). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 02,2013 OctaFX.Com News Updates OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 02,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted December 3, 2013 Author Share Posted December 3, 2013 Flash: GBP/USD has NOT closed above 1.6370 - Commerzbank FXstreet.com (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that she made an error yesterday – the did NOT close above the 1.6370 December 2012 high. Key Quotes “This attempt higher was seen in fairly thin market conditions and ONLY a CLOSE above 1.6370 will persuade us that there is scope for a move to 1.6634/16735.” “Every time frame is implying that this is in fact the end of the upmove, and the 60 minute chart is suggesting intraday rallies will now fail 1.6275/85.” “The daily RSI has not confirmed the new high and we will watch price action around the 1.6259/55 previous highs from October, as failure here will cast attention back to the 5 month uptrend at 1.6029. A close below here will re-target the 1.5855 November low.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Dec 03,2013 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
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