OctaFX_Farid Posted February 20, 2014 Author Share Posted February 20, 2014 US: CB Leading Economic Index grows 0.3% in January FXStreet (Barcelona) - The US CB Leading Economic Index grew 0.3% in January, after remaining flat in December, according to data released by the Conference Board. Consensus pointed to a 0.4% rise. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 20, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 21, 2014 Author Share Posted February 21, 2014 EUR/USD consolidating above 1.3700 FXStreet (Edinburgh) - The shared currency is looking to consolidate its weekly upside above the 1.3700 barrier, taking the EUR/USD to the region of 1.3740/50 so far. EUR/USD focus on IFO, CPI The pair would be under pressure at the very beginning of the next week, where the German IFO series are due followed by the more relevant EMU’s inflation figures. Prior surveys expect mixed results from the German indicator and consumer prices in the bloc to have contracted 0.4% inter-month during January. Market participants would follow the G20 meeting over the weekend, where the EM would take centre stage. EUR/USD levels to watch At the time of writing the pair is up 0.15% at 1.3740 and a break above 1.3763 (high Feb.20) would open the door to 1.3773 (high Feb.19) ahead of 1.3777 (2014 high Jan.2). On the downside, the immediate support lines up at 1.3689 (10-d MA) followed by 1.3685 (low Feb.20) and then 1.3674 (low Feb.14). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 21, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 24, 2014 Author Share Posted February 24, 2014 AUD/USD falters ahead of 0.9000 FXStreet (Córdoba) - The AUD/USD managed to erase intraday losses during the European session underpinned by the recovery in risk sentiment and European stocks. After falling to a 4-day low of 0.8937 weighed by concerns over China's property market, the AUD/USD found support and bounced to fresh highs just below 0.9000. At time of writing, the AUD/USD is trading around 0.8980, a few pips above its opening price, having hit a high of 0.8993. AUD/USD levels to watch As for technical levels, the pair could find immediate resistances at 0.8993 (Feb 24 high), 0.9000 (psychological level) and 0.9021 (Feb 20 high). On the downside, immediate supports are seen at 0.8937 (Feb 24 & 20 lows) ahead of 0.8927 (Feb 13 low) and 0.8900 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 24, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 24, 2014 Author Share Posted February 24, 2014 Commodities: industrial metals decline on prospect of reduced Chinese demand FXStreet (London) - Copper prices fell overnight on concerns over declining demand after a Chinese news source reported that some banks had tightened real-estate lending. Declining industrial demand The report from Shanghai Securities News said that Industrial Bank co. along with other banks had curbed lending to property developers. The prospect of a slowdown in construction spending in China, the world's largest copper consumer, has knocked 1.23 percent off copper prices, with May contracts currently trading at USD322/lb. Prices had already been given room for downside after a report released on Friday showed that copper stockpiles had reached a nine-month high. In addition to copper declines, aluminium and zinc have also seen falls on decreased industrial demand expectations. Gold rises on growth worries Gold has risen to a four-month high on US economic growth concerns. US home sales fell to a one-year low on Friday, suggesting a weakening of consumer confidence. While much of the weak US economic data published so far in 2014 has been written off as affected by the below-normal US temperatures and poor weather conditions, concerns remain over the pace of US growth, fuelling haven demand for gold. The precious metal is currently trading at USD1,332.24/oz, up 0.6 percent. In addition, silver prices have rallied strongly. Spot silver is currently trading at USD22.06/t oz, up 1.23 percent. Cold weather adds to natural gas rally Natural gas futures continued their big 2014 rally, surging to five-year highs on the prospect of continuing below-normal US weather conditions. Forecasted possibility of the return of disruptive snow to the Northeast has helped push natural gas contracts for May delivery to USD6.44, up 4.94 percent. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 24, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 24, 2014 Author Share Posted February 24, 2014 USD/CAD relentlessly continuing on the offer FXStreet (Guatemala) - USD/CAD is extending the bearish short term trend from the highs of last week and last traded at time of writing 1.1060 with a low of 1.1057 and a high of 1.1144. Strategists at TD Securities explained also that USD/CAD has eased back further since last Friday’s push to retest the 1.12 area. “The 1.1175/1.1225 area now looks fairly stiff short-term resistance for the USD and we could see some further retracement in USD/CAD of last week’s rally near-term (50% Fibonacci support stands at 1.1044) before the market steadies and resumes the move up. Support (key, short-term) now stands at 1.0910 (potential range break down point)”. USD/CAD Levels The 20 DMA is 1.1067, the 50 DMA is 1.0895 and the 200 DMA is 1.0525. RSI (14) reads 64.78. Supports are ascending from 1.1000 and 1.1025. Spot is 1.1061 while resistances are 1.1093, 1.1120, 1.1196, 1.1225, 1.1300 and 1.1349. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 24, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 24, 2014 Author Share Posted February 24, 2014 USD/CAD relentlessly continuing on the offer FXStreet (Guatemala) - USD/CAD is extending the bearish short term trend from the highs of last week and last traded at time of writing 1.1060 with a low of 1.1057 and a high of 1.1144. Strategists at TD Securities explained also that USD/CAD has eased back further since last Friday’s push to retest the 1.12 area. “The 1.1175/1.1225 area now looks fairly stiff short-term resistance for the USD and we could see some further retracement in USD/CAD of last week’s rally near-term (50% Fibonacci support stands at 1.1044) before the market steadies and resumes the move up. Support (key, short-term) now stands at 1.0910 (potential range break down point)”. USD/CAD Levels The 20 DMA is 1.1067, the 50 DMA is 1.0895 and the 200 DMA is 1.0525. RSI (14) reads 64.78. Supports are ascending from 1.1000 and 1.1025. Spot is 1.1061 while resistances are 1.1093, 1.1120, 1.1196, 1.1225, 1.1300 and 1.1349. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 24, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 25, 2014 Author Share Posted February 25, 2014 Session Recap: USD steady ahead of US data FXStreet (Córdoba) - The USD trades steadily within recent ranges versus major competitors as investors await more US data for clues on the economic recovery. The EUR/USD advanced toward the 1.3760 area but once again lacked strength to clear the 1.3760/80 resistance area and pulled back. The GBP/USD advanced above 1.6700 underpinned by BoE McCafferty comments, but momentum faltered. The USD/JPY retreated a tad, but remains confined to a range. During the New York session watch for consumer confidence data, Richmond Fed Business Activity survey and S&P/Case-Shiller Home price Indices. Main Headlines in Europe: Flash: What’s the sentiment around the EUR/USD today? – Commerzbank and Danske Bank Germany: Quarterly GDP grows 0.4% in Q4 European open: Asian volatility subdued despite RMB fixing lower UK: BBA Mortgage Approvals tick up to 50.0K in January Pound rises to day's high on BoE McCafferty's interest rate hike comments Commodities: China demand concerns continue to weigh in prices OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 25, 2014 Author Share Posted February 25, 2014 Flash: EUR/USD would remain rangebound - Societe Generale FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, argues the EUR/USD would remain within 1.3640-1.3840. Key Quotes "One effect of importing even more disinflation from EM is that it keeps bond yields down in developed markets. With investors happy to ignore US economic data, and with the ECB doing noting o policy but hinting furiously about what they could do, Bunds and Treasuries are in ranges, peripheral and corporate spreads grinding tighter." "This remains a backdrop that is marginally unfriendly for both US dollar and Japanese yen. The yen is refusing to ‘play ball' perhaps because shorts are still substantial, but CAD/JPY is a good buy (as mentioned yesterday)." "EUR/USD is in its range, and unless it breaks 1.3640-1.3840 probably best viewed as such. There is no change to long-term views, and little news to move it today, with German data as expected, US house prices and consumer confidence likely to be ignored." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 26, 2014 Author Share Posted February 26, 2014 Commodities: gold trims highs, WTI up despite increased stockpile expectations FXStreet (London) - Commodity markets have been subdued so far, with continuing concerns over Chinese demand. Industrial metals subdued by lower China demand expectations Iron ore prices broke below USD120/ton on their fifth-straight day of declines. The bearish trend brings prices to their lowest point since July 2013. Declines were given momentum on reports that a number of major Chinese banks were curbing lending to the real estate market, with expectations of a resulting decline in steel demand hitting iron ore prices. In addition, Beijing cut the CNY fixing rate further overnight, down another 0.01 percent to CNY61192. The latest cut from the People's Bank of China brings the fixing to the lowest level since 20 December and comes as the PBoC prepares to widen its trading bands. The lower fixing and yuan depreciation trend weakens CNY purchasing power. The AUD saw some bearishness overnight on expectations that the weakening Chinese currency would hit demand for Australian commodities. Gold trims gains Gold has trimmed some gains after reaching 17-week highs, with UBS analysts today predicting that February will show the first month of net positive inflows into exchange-traded gold funds in a year. Spot gold prices hit a 17-week high at USD1,345.46 yesterday, supported by continuing below-consensus US economic data boosting haven demand. While much of the below-par US data has been written off as caused by below-normal US temperatures and disruptive weather conditions, concerns remain as to whether the economy will regain growth momentum. While the US is entering a cycle of relative tightening as the Federal Reserve continues its policy of tapering its current USD65bn a month quantitative easing purchases, Chinese conditions are helping to fuel investor demand for the precious metal as a store of value. Crude gains despite stockpile expectations WTI prices have rebounded after trading near a one-week low ahead of today's report from the US Energy Information Administration. Consensus expectations are that the report will show that crude inventories rose by 1.275m barrels last week. Crude prices have gained 4 percent so far this month thanks to below-normal IS temperatures boosting heating demand. WTI contracts for April delivery are currently trading at USD102.08/barrel, up 0.25 percent. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 26, 2014 Author Share Posted February 26, 2014 GBP/USD consolidates below 1.6700 FXStreet (Edinburgh) - The sterling is now extending the congestion pattern below the 1.6700 handle on Wednesday, taking the GBP/USD to trade in a narrow range around 1.6680/90. GBP/USD calmer post-UK GDP After a short-lived spike to levels beyond the key barrier at 1.6700, the pair pared back those earlier gains and is now back in the 1.6680/90 comfort zone. Ahead in the week, the UK docket includes a gauge of the Consumer Confidence by Gfk, Nationwide Housing Prices and a speech by Governor M.Carney, all due on Friday. “GDP growth remained strong in Q4 2013 (at +0.7% q/q, after +0.8% q/q in Q3). Moreover the growth breakdown is reassuring. Private consumption was again a key driver of growth (contributing +0.3 point of GDP), but investment and net exports also underpinned GDP growth (+0.3 and +0.4 point of GDP respectively)”, commented Catherine Stephan, Analyst at BNP Paribas. GBP/USD significant levels The pair is now gaining 0.09% at 1.6681 with the next up-barrier at 1.6728 (high Feb.25) followed by 1.6741 (high Feb.18) and then 1.6800 (psychological level). On the downside, a breach of 1.6642 (low Feb.25) would open the door to 1.6583 (low Feb.24) and finally 1.6541 (21-d MA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 26, 2014 Author Share Posted February 26, 2014 USD/CHF has rocketed onto the 0.89 handle FXStreet (Guatemala) - The US new home sales rose 9.6% to 468,000 annual rate and these were much stronger than expected. The dollar is firmer across the board. USD/CHF had been stuck in a tight range and trading on the side-lines in the overall bearish trend. Karen Jones, chief analyst at Commerzbank, explained the downside elements technically and what is required for advances towards the 3rd Feb high, “We remain unable to rule out stabs down to the 0.8832/00 December lows. From here we should see the market recover. The market will need to overcome its short term downtrend, this is located today at 0.8956, in order to alleviate downside pressure and re- target 0.9038 then 0.9082 (3rd February high) and only above 0.9082 will retarget the 0.9164 Fibonacci retracement. USD/CHF Levels The 20 DMA is 0.8957, the 50 DMA is 0.8984 and the 200 DMA is 0.9175. RSI (14) reads 75.13. Supports are 0.8766, 0.8800, 0.8830, 0.8850, 0.8891 and 0.8915. Spot is 0.8924. Resistance comes 0.8949. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 26, 2014 Author Share Posted February 26, 2014 EUR/USD keeps falling, around 1.3660 FXStreet (Edinburgh) - The selling interest is gathering steam around the EUR on Wednesday, pushing the EUR/USD to multi-day lows near 1.3660. EUR/USD in 2-week lows The pair continues to give ground as the greenback gets stronger, now falling to test 2-week lows in the region of 1.3660. “As speculation mounts ahead of next week's ECB meeting, talk of a rate cut has increased, even if not seen in the euro itself. There is some speculation that the ECB, which says it is technically prepared and that all options are on the table, will cut the deposit rate, which is now at zero”, commented analysts at BBH. EUR/USD levels to watch At the moment the pair is down 0.51% at 1.3668 and a breakdown of 1.3652 (daily cloud top) would target 1.3646 (21-d MA). On the upside, the initial hurdle lines up at 1.3768 (high Feb.25) ahead of 1.3773 (high Feb.19) and then 1.3796 (76.4% of 1.3894-1.3477). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 27, 2014 Author Share Posted February 27, 2014 NATO chief urges Russia not to exacerbate conflict in Ukraine FXStreet (Łódź) - Following Russian president Vladimir Putin's order to put the military at combat readiness, including fighter jets, along the Ukraine border, NATO Secretary-General Anders Fogh Rasmussen urged Moscow today on his twitter account to avoid any action which could “escalate tension or create misunderstanding." Ukraine's Foreign Ministry summoned on Thursday Russian charge d’affairs in Kiev Andrey Vorobiev and passed him a letter requesting that Russia’s Black Sea Fleet on the Crimean port of Sevastopol remain on base. Meanwhile, it was reported that Ukraine's ousted president Viktor Yanukovych was spotted in Moscow and he is now allegedly staying a Kremlin luxurious sanatorium outside the city. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 27, 2014 Author Share Posted February 27, 2014 AUD/USD resilient near 0.8930 FXStreet (Edinburgh) - The Aussie dollar is surprisingly holding quite well on Thursday, with the AUD/USD keeping the 0.8935/30 region as the risk aversion is punishing the riskier assets. AUD/USD consolidating below 0.9000 The pair quickly left behind the area around the 0.9000 psychological handle, hurt by much lower than expected Capex report during the last three months of 2013, down 5.2% vs. an expected flat reading. “Even without another rate cut from the RBA, the AUD is still vulnerable both to signs that the economy is failing to adjust to the end of the mining investment boom and to concerns regarding the pace of growth in China (Australia’s latest export partner). We maintain our view that AUD/USD could slip towards the 0.86 level on a 12 mth view. We have also reinstated our bearish AUD/NZD call”, noted Jane Foley, Senior Currency Strategist at Rabobank. AUD/USD key levels The pair is now losing 0.26% at 0.8942 with the immediate support at 0.8928 (low Feb.13) ahead of 0.8910 (55-d MA) and finally 0.8821 (61.8% of 2014 rise). On the upside, a break above 0.9050 (high Feb.24) would open the door to 0.9081 (high Feb.18) and then 0.9087 (2014 high Jan.13). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 27, 2014 Author Share Posted February 27, 2014 Germany: IPC (Feb) rose 1.2% YoY FXStreet (Edinburgh) - Preliminary German consumer prices advanced at an annual pace of 1.2% and 0.5% on a monthly basis, softer than forecasts at 1.3% and 0.6%, respectively. The HICP followed also came in short of estimates, advancing 1.0% YoY and 0.5% MoM. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 27, 2014 Author Share Posted February 27, 2014 USD/JPY through 102.00 after US data FXStreet (Edinburgh) - The USD/JPY manages to break above the 102.00 on Thursday, after US Durable Goods Orders surprised to the upside. USD/JPY bounces off 101.80 Increased risk aversion dragged the pair to session lows in sub-101.80 levels, bouncing to the area beyond 102.00 the figure after US Durable Goods Orders contracted less than expected in January and Initial Claims rose above estimates to 348K in the week ended on February 21. Ahead in the day, market participants would closely watch J.Yellen’s speech due at 15GMT. USD/JPY key levels The pair is now retreating 0.28% at 102.07 with the next support at 101.67 (low Feb.20) followed by 101.38 (low Feb.17) and then 101.25 (low Feb.6). On the upside, a breakout of 102.45 (high Feb.27) would expose 102.63 (high Feb.25) and finally 102.68 (high Feb.24). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 27, 2014 Author Share Posted February 27, 2014 Flash: Sterling 10 yrs down; GBP/USD still bullish - Scotiabank FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank said "GBP is weak, down 0.2% and UK 10‐year gilt yields are down to 2.66%, flirting with the first break of the 200‐day MA for the first time since May 2013. Rising risk aversion is weighing on all European currencies." Key Quotes "GBP/USD short‐term technicals: bullish but signals are fading and threatening a shift into sell territory. There is better risk reward elsewhere for near‐term traders." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 28, 2014 Author Share Posted February 28, 2014 EUR/USD back below 1.3800 FXStreet (Edinburgh) - The shared currency is now retreating to sub-1.3800 levels vs. the USD on Friday, dragging the EUR/USD back to 1.3790/85. EUR/USD buoyant at 2014 highs After posting fresh ytd highs near 1.3815, spot is slipping back to the high 1.37s although the EUR remains well bid at current levels. In light of the recent advanced EMU’s inflation figures for February, Analyst Martin van Vliet at ING Bank NV, commented “the stable headline inflation reading coupled with the ongoing signs of economic recovery provide an argument for the ECB to keep their powder dry next week. To be sure, if the ECB decides to ease policy anyway, it will probably merely consist of a small refi-rate cut; the deposit rate would likely stay at zero”. EUR/USD levels to consider At the moment the pair is up 0.58% at 1.3789 with the next resistance at 1.3813 (2014 high Feb.28) followed by 1.3819 (high Dec.30) and then 1.3894 (2013 high Dec.27). On the downside, a breach of 1.3694 (low Feb.28) would target 1.3660 (21-d MA) en route to 1.3647 (daily cloud base). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 28, 2014 Author Share Posted February 28, 2014 USD/CAD breached 1.1100 on data FXStreet (Edinburgh) - The CAD is strongly appreciating against the USD on Friday, pushing the USD/CAD to test the support at 1.1100 in the wake of US, Canada data. USD/CAD in 2-day lows The pair is now breaching the 1.1100 key support after the US GDP expanded below estimates at an annual pace of 2.4% vs. 2.5% forecasted. Adding to the downside, the Canadian economic activity grew 2.9%, bettering forecasts for a 2.5% gain and up from 2.7% previous. According to James Knightley, Analyst at ING Bank NV, “it looks as though 1Q14 GDP growth is going to be soft too given the damaging impact from bad weather. However, the Federal Reserve appears prepared for this and expects it to be merely a temporary effect. As such we look for the Fed to continue with the tapering of their QE programme at the March FOMC meeting, although weather impacted soft ISM and payrolls figures next week may lead to some market caution on this”. USD/CAD key levels At the moment the pair is losing 0.42% at 1.1089 with the next support at 1.1074 (low Feb.26) followed by 1.1071 (10-D MA) and finally 1.1055 (low Feb.25). On the upside, a surpass of 1.1145 (high Feb.26) would aim for 1.1160 (high Feb.27) and then 1.1225 (2014 high Jan.31). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 28, 2014 Author Share Posted February 28, 2014 GBP/USD bounces at 1.6680 following US GDP FXStreet (San Francisco) - The Sterling is currently recovering ground against the US dollar following the weaker than expected US Q4 GDP second estimate of 2.4%. The GBP/USD bounced at 1.6680 to price at 1.3725. The second estimate of the Q4 US GDP shows a growth of 2.4%, below expectations of 2.5% and revised down from prior reading of 3.2%. The GBP/USD is currently trading at 1.6710, 0.16% positive in the day. The short term perspective is now slightly bullish according to the FXStreet trend index in the 15-minute chart. CCI is bearish; however, the Momentum is bullish while the stochastic and the MACD are neutral. GBP/USD levels The GBP/USD would face resistance at 1.6770, 1.6800 and 1.6820. On the downside, supports are at 1.6680, 1.6660 and 1.6620. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted February 28, 2014 Author Share Posted February 28, 2014 USD/JPY severing the 102 handle FXStreet (Guatemala) - USD/JPY has severed the upside 102.00 handle despite key technical being eroded on the way down through the three month support at 101.72. USD/JPY reacted well to the Personal Consumption Expenditures Prices and Core Personal Consumption Expenditures Prices for Q4 Q/Q that beat expectations 1.0% vs 0.7% and 1.3% vs 1.1% respectively. However, the US Q4 GDP disappointed slightly as it only rose 2.4% vs a better expected 2.4%. Up next on a busy day of data we have Chicargo PMI which is expected to ease to 56.4 in Febuary from 59.6 in January (14.45 GMT). Then we have Michigan consumer sentiment at 14.55GMT, expected 81.2 and to round things off we have Pending home sales at 15.00GMT expected to rise 1.8% vs the January disappointment when we had a decline of 8.7%. Technically, Karen Jones, chief analyst at Commerzbank said, “The market had been previously capped on the topside by its 55 day ma at 103.28. This guards 104.45 en route to the more important 105.45/50 recent high and long term Fibo”. She also notes a multitude of supports between 101 and 100, “We look for this ‘zone’ to under pin. This area is also reinforced by the 55 week ma at 99.41”. USD/JPY Levels The 20 DMA is 102.12, the 50 DMA is 103.31 and the 200 DMA is 100.18. RSI (14) reads 44.32. supports are ascending from 101.07, 101.25, 101.38, 101.60 and 101.99. Spot is 102.01. Resistances are 102.22 102.47 and 102.68. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Feb 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 1, 2014 Author Share Posted March 1, 2014 Session Recap: Anything but Ukraine; Dollar on the weak FXStreet (San Francisco) - The US dollar was the biggest loser in the session as investors were reluctant to take positions on the Greenback ahead of a crucial week ahead. However news coming from Ukraine said that 2,000 Russian soldiers landed in Crimea. Market was dumbfounded. Late risk aversion didn't benefit the USD today as earlier in the day the US GDP posted a downward revision to 2.4% in the Q4. Expectations were about 2.5%. Stocks rallied to record highs in the S&P however major indexes faded gains with the Ukraine's news and Wall Street closed mixed the day but with solid gains in the week and the month. The EUR/USD advanced for fourth week in a row to close above 1.3800. In the month, the pair performed a spectacular come-back from 1.3475 priced earlier in the month to reach Friday's high at 1.3825, 2014 high. So what’s next for the EUR/USD? "Mostly it will depend on the main barometers of each economy, the ECB policy meeting and the US employment figures, next Thursday and Friday respectively," comments FXStreet chief analyst Valeria Bednarik. "The most likely scenario there, is an on hold stance and a mild hawkish speech; in the US, employment tumbled the last months, so my take is that will be the key for March trends, as another bad number will probably put the greenback under pressure, and boost the EUR/USD towards December high around 1.3900," Bednarik adds. According to the Forecast Currencies Poll, the EUR/USD bullish momentum is expected to extend next week: Our #FXpoll shows the pair may extend beyond 1.3900, albeit bears will take over in a 1 month view. However, the Dollar may lose ground in the short term, but market still believes in taper as we may assume from the Forecast Poll results. Main headlines in the American session: Canadian GDP falls 0.5% in December. rises 2.9% in Q4 US: Q4 GDP growth revised down to 2.4% versus 3.2% US: Chicago PMI slightly up to 59.8 in February US: Reuters/Michigan Consumer Sentiment Index rises to 81.6 in February US: Annual Pending Home Sales fall 9.0% in January White House: Russian intervention in Ukraine would be a grave mistake... Ukraine acting president accuses Russia of aggression Things are heating up in Crimea US stocks closed mixed the day, but post solid gains in February OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 01, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 3, 2014 Author Share Posted March 3, 2014 Flas: JPY supported on geopolitical tensions - BTMU FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, suggested the JPY has been benefited from the Russia-Ukraine developments. Key Quotes "The yen has continued to strengthen modestly in the Asian trading session reflecting heightened investor uncertainty relating to the latest developments in the Ukraine. G7 leaders and the presidents of the European Council and European Commission have released a statement over the weekend condemning the Russian Federation’s clear violation of the Ukraine’s sovereignty." "For the time being they have decided to suspend participation in activities associated with upcoming G8 meeting which is scheduled to take place in Sochi in June. They have also supported the Ukraine’s work with the IMF to negotiate a new loan programme and implement required reforms as well as supporting the Ukraine’s right to choose its own future." "It follows a request on the 1st March from Russian President Putin to the Federation Council which was granted to send troops to the Ukraine. The Ukraine has subsequently called for a mobilization of troops." "The developments are already encouraging accelerated capital outflows from the two countries, and will have a negative spill over impact upon the surrounding region. The further weakening of the rouble, with the USD/RUB rate rising to a new record intra-day high today just below the 37.0-level, has prompted the Central Bank of Russia to raise its key policy rate by 1.5 percentage points to 7.00%." "The rouble has already fallen sharply by around 10% against the US dollar in early 2014 increasing upside risks to the CBR’s 5.0% inflation target. The combination of accelerated capital outflows and tighter monetary policy will weigh further upon economic growth in Russia which had already slowed sharply to just 1.3% in 2013." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 03, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 3, 2014 Author Share Posted March 3, 2014 Flas: JPY supported on geopolitical tensions - BTMU FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, suggested the JPY has been benefited from the Russia-Ukraine developments. Key Quotes "The yen has continued to strengthen modestly in the Asian trading session reflecting heightened investor uncertainty relating to the latest developments in the Ukraine. G7 leaders and the presidents of the European Council and European Commission have released a statement over the weekend condemning the Russian Federation’s clear violation of the Ukraine’s sovereignty." "For the time being they have decided to suspend participation in activities associated with upcoming G8 meeting which is scheduled to take place in Sochi in June. They have also supported the Ukraine’s work with the IMF to negotiate a new loan programme and implement required reforms as well as supporting the Ukraine’s right to choose its own future." "It follows a request on the 1st March from Russian President Putin to the Federation Council which was granted to send troops to the Ukraine. The Ukraine has subsequently called for a mobilization of troops." "The developments are already encouraging accelerated capital outflows from the two countries, and will have a negative spill over impact upon the surrounding region. The further weakening of the rouble, with the USD/RUB rate rising to a new record intra-day high today just below the 37.0-level, has prompted the Central Bank of Russia to raise its key policy rate by 1.5 percentage points to 7.00%." "The rouble has already fallen sharply by around 10% against the US dollar in early 2014 increasing upside risks to the CBR’s 5.0% inflation target. The combination of accelerated capital outflows and tighter monetary policy will weigh further upon economic growth in Russia which had already slowed sharply to just 1.3% in 2013." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 03, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted March 3, 2014 Author Share Posted March 3, 2014 US Personal Consumption Expenditures - Price Index (MoM) meets forecasts (0.1%) in January; 1.2% (YoY) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Mar 03, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.