OctaFX_Farid Posted April 30, 2014 Author Share Posted April 30, 2014 USD/JPY falls toward 102.00 ahead of the FED FXStreet (Córdoba) - The USD/JPY dropped further during the American session and hit a fresh 2-day low at 120.02, as US government bond yields reached fresh lows ahead of the FOMC statement. After the release of the ADP employment report the USD/JPY jumped to 102.65 but then after GDP data reversed and turned to the downside, accelerating following Wall Street opening bell as the US dollar tumbled across the board. USD/JPY technical levels To the upside, immediate resistance could be located at 102.30 and above here at 102.65/70 (daily high) and 102.95. To the downside, the area around 102.00 is the first support to consider and below 101.60 and 101.20. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 30, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted April 30, 2014 Author Share Posted April 30, 2014 USD/CAD choppy around 1.0950 FXStreet (Edinburgh) - The USD/CAD is trading within a 30 pips range on Wednesday, keeping the trade between 1.0950 and 1.0980 so far. USD/CAD looking to consolidate Spot is now attempting a consolidation pattern after yesterday’s drop from the 1.1040 region ahead of the FOMC gathering due later. In the data front, Canadian GDP figures came in in line with consensus at 0.2% inter-month in February while the US print missed expectations at 0.1% vs. 1.2% forecasted. “USDCAD slipped a little below retracement support over the past 24 hours but losses below 1.0956 have been limited and price action subsequently looks constructive for funds, from a short-term point of view at least… Bullish “hammer” formations in the 6-hour charts still suggest the near-term likelihood of a squeeze up to the 1.10 area near term. We see solid support on short-term dips to 1.045/5 now”, commented Shaun Osborne, Chief FX Strategist at TD Securities. USD/CAD levels to watch The pair is now up 0.05% at 1.0950 facing the next resistance at 1.1014 (low Apr.25) ahead of 1.1053 (high Apr.23) and then 1.1069 (50% of 1.1279-1.0858). On the flip side, a breakdown of 1.0919 (low Apr.11) would expose 1.0868 (low Apr.10) and finally 1.0858 (low Apr.6). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 30, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 2, 2014 Author Share Posted May 2, 2014 USD/CHF propelled by US jobs data FXStreet (Córdoba) - The dollar rose sharply across the board and took the USD/CHF to 2-day highs above 0.8800 propelled by much better-than-expected US nonfarm payrolls figures. The USD/CHF rose more than 50 pips after data showed the US economy created 288,000 new jobs in April, far surpassing the 210,000 expected, and reached a high of 0.8840 before facing resistance. At time of writing, the USD/CHF is trading at 0.8835, recording a 0.51% gain on Friday and on track to post a 0.39% weekly advance, having bounced from a low of 0.8769. USD/CHF levels to watch As for technical levels, immediate resistances for USD/CHF could be found at 0.8840 (May 2 high), 0.8850 (Apr 30 high) and 0.8860 (Apr 22 high). On the other hand, supports are seen at 0.8782 (May 1 low), 0.8769 (Apr 28 low) and 0.8750 (Apr 10 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 02, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 2, 2014 Author Share Posted May 2, 2014 EUR/JPY returns to 142.00 after peaking to 142.35 FXStreet (San Francisco) - The EUR/JPY attempted a rally from 142.10 as it jumped to 142.35, highest since April 29; however, the pair found selling interest at this level and currently it is trading back to 142.00. Currently, EUR/JPY is trading at 142.07, up 0.12% on the day, having posted a daily high at 142.35 and low at 141.77. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish. EUR/JPY levels If the pair loses the 142.00 level, next supports are seen at 141.90 and 141.75. On the upside, resistances are at 142.15, 142.35 and 142.45. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 02, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 2, 2014 Author Share Posted May 2, 2014 EUR/USD bounces sharply and retests daily highs FXStreet (Córdoba) - The EUR/USD is staging a mild bounce, trimming some of its intraday losses incurred in the wake of strong US nonfarm payrolls. The EUR/USD fell to a 2-day low of 1.3811 immediately after the data but managed to recover afterward as in Sebastien Galy analyst at Societe Generale terms, the substitution effect of rising yields gives way to the wealth effect of a rising labour market on risk taking. The EUR/USD has completely erased intraday losses and it was at 1.3865 at last check. At current levels, the pair would close the week with a slight gain for second time in a row. EUR/USD supports & resistances As for technical levels, next resistances for EUR/USD could be found at 1.3888 (May 1 high), 1.3904 (Apr 11 high) and 1.3933 (Mar 19 high). On the other hand, supports are seen at 1.3811 (May 2 low/50-day SMA) and 1.3777 (Apr 30 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 02, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 2, 2014 Author Share Posted May 2, 2014 AUD/USD rebounds sharply, rises back above 0.9250 FXStreet (Córdoba) - The AUD/USD bottomed at 0.9200 after the release of the Nonfarm Payroll report in the US, that surpassed expectations, reaching the lowest price in a month but then rebounded sharply and rose more than 60 pips, back to the price it had before NFP. From 0.9200 the AUD/USD jumped to 0.9274 but then pulled back and currently trades at 0.9255, down 0.19% for the day so far. Initially the US dollar rose across the board but after Wall Street opening erased gains. According to the ">US employment report the economy added 288,000 jobs is April, above expectations of 210,000. March numbers were revised to the upside, while the unemployment rate fell from 6.7% to 6.3%. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 02, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 2, 2014 Author Share Posted May 2, 2014 GBP/USD regains 1.6880 FXStreet (Edinburgh) - The GBP/USD is regaining the 1.6880 level and thus extending the bounce off session troughs near 1.6820 post-US Payrolls. GBP/USD capped by 1.6900 Positive economic indicators during this week allowed the sterling to print new multi-year highs vs. the greenback beyond the 1.6900 handle, although spot was unable to trade back to those levels so far. “We continue to see only a 25% chance that the BoE can hike this year, but admit that risk is rising”, commented strategists at TD Securities. Today’s Payrolls in the US economy (288K act.) largely surpassed expectations, albeit the subsequent spike in USD was totally reverted soon after. GBP/USD levels to watch The pair is now losing 0.11% at 1.6875 with the next support at 1.6841 (10-d MA) followed by 1.6821 (low May 2) and finally 1.6805 (low Apr.3). On the upside, a break above 1.6921 (high May 1) would aim for 1.7000 (psychological level) and then 1.7044 (high Aug.5 2009). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 02, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 2, 2014 Author Share Posted May 2, 2014 Gold jumps to $1,304 FXStreet (Córdoba) - Spot gold recently reached a fresh 4-day high at $1,304, after making a strong rebound. After the release of the US employment report price tumbled to $1,273 but quickly rebounded to the level it had before NFP. Following the opening bell at Wall Street gained momentum and accelerated to the upside, breaking above $1,288 (previous daily highs). The yellow metal printed a fresh high at $1,304 and then pulled back. Currently trades at $1,299, $15 above the price it had at the beginning of the day and near the one it had a week ago. A weak US dollar pushed XAU/USD to the upside amid rising tension in Ukraine. Stocks in Wall Street opened higher but then turned negative, on a relatively volatile session and currently trade in mixed territory. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 02, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 5, 2014 Author Share Posted May 5, 2014 United States 6-Month Bill Auction remains at 0.045% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 05, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 5, 2014 Author Share Posted May 5, 2014 USD/CAD broadly bullish – TDS FXStreet (Guatemala) - Shaun Osbourne, Chief FX Strategist at TD Securities explained the events around USD/CAD and remains broadly bullish for funds. Key Quotes "The CAD has been subdued in quiet trade so far this wee. Volatility may pick up in the days ahead, however as the Canadian economic release schedule picks up a little more this week—trade data are released Tuesday (we look for a weak-ish report and note that the contents of last week’s US trade data did not augur too positively for Canada), housing data follow Wednesday and Thursday and the employment report is out on Friday (market consensus is for a 15k gain after the 42.9k rise in March)." "We remain bullish on the broader outlook for USD/CAD—better US data should, eventually, push US yields more obviously higher and pull the USD higher alongside. The better US non-farm payroll numbers last week suggest that the US economy is gathering some momentum after the recent, weather-related softness." "As Governor Poloz has pointed out in his recent remarks however, there are some sectors of the Canadian economy that are not picking up as much as we might expect due to structural challenges and lost competitiveness. We continue to believe that a slightly softer CAD will have to be part of the solution to that particular challenge." "From a short-term point of view, we would also highlight that early May tends to be a little more seasonally supportive for USD/CAD—the early part of the month has been the staging point for short, sharp rallies in USD/CAD in the past few years. We note an average 6.6% rally in funds from the low point of the market in late April or early May over the following 4-8 weeks since 2010 and note a seasonal bias towards USD/CAD strength in the period going back a number of years beyond that as well. Over the past 10 years, May has also seen the biggest jump in short-term implied volatility of any month in the year." "As such, and with a firm base in place at 1.0860 from a technical point of view still, we rather think that risk/reward considerations favour USD/CAD longs from current—or very near—levels. Technically, short-term patterns looks positive—despite the USD’s failure to thrive following the US NFP release last week." "Gains through 1.1000/10 should be a short-term positive for USD/CAD. We spot firm support at 1.0940/50 now." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 05, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 5, 2014 Author Share Posted May 5, 2014 USD/CAD reverses and falls to 1.0950 FXStreet (Córdoba) - The USD/CAD rose at the beginning of the American Session to 1.0989, reaching a fresh daily high but then weakened and reversed sharply falling to 1.0951, hitting a new daily low. Technical outlook for the USD/CAD Despite moving from a daily high to a low in a few hours, the short term bias in unclear and continues to favor sideways moves. Since last Wednesday the USD/CAD operates with support above 1.0940/50 and resistance below 1.1000. In the long term, the trend still favor the upside but since March it's moving to the downside, with a corrective bias, that so far has found support at 1.0850. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 05, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 5, 2014 Author Share Posted May 5, 2014 GBP/USD sidelined around 1.6870 FXStreet (Edinburgh) - The sterling is now posting marginal losses vs. the greenback, with the GBP/USD hovering over 1.6865/70. GBP/USD focus on PMI, BoE The pair is attempting a consolidation pattern after hitting multi-year highs beyond 1.6900 the figure last week, ahead of the relevant services PMI in the UK economy tomorrow (57.6 exp.) and the BoE MPC gathering on Thursday. “The strength of the UK economy, and this quarter it will likely surpass its pre-crisis peak is helping to widen interest rate differentials in sterling's favor. We look for bulls to continue to absorb the offers ahead of $1.70 and eventually drive sterling through there… The $1.6780-$1.6800 area is forming an important area. It probably requires a break of $1.6760 to suggest a break out”, observed analysts at BBH Global Currency Strategy Team. GBP/USD levels to consider As of writing the pair is retreating 0.03% at 1.6867 with the immediate support at 1.6835 (10-d MA) ahead of 1.6821 (low May 2) and finally 1.6805 (low Apr.30). On the flip side, a break above 1.6894 (high May 2) would aim for 1.6921 (high May 1) and then 1.7000 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 05, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 5, 2014 Author Share Posted May 5, 2014 ECB to make a move? – BBH FXStreet (Guatemala) - Turning to the ECB, Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained that most observers recognise that with the small uptick in the flash April CPI and the new staff forecasts not available until June, a move this week is unlikely. Key Quotes “A stand pat ECB decision, however, even with the ongoing threats of more dramatic action, could see the euro push higher as the event risk passes." "New staff forecast for growth and inflation are important, but only for one set of ECB challenges, namely the threat of deflation. We expect the staff forecasts to continue to be consistent with other economists, including the team at the IMF, that indicate little chance of deflation in the euro area as a whole." "The IMF’s forecasts point to Greece as the only member to experience deflation this year. Also of note, today’s new EU forecasts cut 2014 inflation to 0.8% from 1.0% and the 2015 forecast to 1.2% from 1.3%." "The staff currently forecasts headline inflation in the euro area at 1.0% this year and 1.3% in 2015. There does not seem to be a compelling case to change these at this juncture." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 05, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 5, 2014 Author Share Posted May 5, 2014 USD/JPY nestled back in on the 102 handle FXStreet (Guatemala) - USD/JPY is trading at 102.09, having posted a daily high at 102.27 and low at 101.86 USD/JPY remains on the 102 handle having reclaimed the territory post falling below the psychological level to the lows with the continued violence in Ukraine that gives the safe haven and risk off JPY an advantage. USD/JPY Levels Current price is 102.10, with resistance ahead at 102.13 (Yesterday's Low), 102.18 (Weekly Low), 102.20 (Daily Open), 102.27 (Daily High) and 102.32 (Hourly 100 SMA). Next support to the downside can be found at 102.08 (Hourly 20 EMA), 101.87 (Daily Classic S1), 101.86 (Daily Low), 101.80 (Weekly Classic S1) and 101.55 (Daily Classic S2). USD/JPY chart formations Looking at price patterns, we can see a Piercing Line 1-hour candlestick formation. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 05, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 5, 2014 Author Share Posted May 5, 2014 Markets marginally up as Ukraine weighs on sentiment FXStreet (Edinburgh) - US equities are wobbling between gains and losses at the beginning of the week, as geopolitical jitters keep weighing on investors’ sentiment. At the moment DowJones is up 0.03% followed by the S&P500 and the Nasdaq, advancing 0.06% and 0.11% respectively. The US dollar, tracked by the DXY, is grinding lower around the 79.50 region, down for the fourth consecutive session. The DAX was the only loser on Monday amongst the main indices in Euroland, retreating 0.28% while the FTSE100 and the CAC40 closed with gains, up 0.20% and 0.10%, respectively. The single currency is trading almost unchanged around 1.3880 amidst an anaemic volume and very low volatility. In the commodities’ space, the barrel of WTI is retreating 0.46% above the $99.00 mark. The ounce troy of the precious metal is up 0.53% around $1,310. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 05, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 7, 2014 Author Share Posted May 7, 2014 United States EIA Crude Oil Stocks change down to -1.781M in May 2 from previous 1.698M Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 07, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 7, 2014 Author Share Posted May 7, 2014 Fed's Yellen: QE taper to continue in 'measured steps', no specific timeline for rate hike FXStreet (Łódź) - During the Q&A part of the testimony Janet Yellen says that as long as inflation is moving towards the 2% target and the USeconomy improves the Fed anticipates reducing the QE program in “measures steps.” • "There is no mechanical formula or timetable for when that will occur," says Yellen when asked about when will Fed start rising rates. • First rate hike will depend on progress made on Fed mandate. • “I can't give a number for the appropriate size of the Fed's balance sheet.” • Ultimately it will move down to substantially lower levels but no certainty that it will return to pre-crisis levels, the Fed head says. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 07, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 7, 2014 Author Share Posted May 7, 2014 Fed's Yellen: Slack in labor market remains considerable FXStreet (Łódź) - Yellen says that a high degree of monetary accommodation is warranted given the considerable slack in the labor markets and low inflation. • “There is a high level of long-term unemployment,” she stresses. • The 6.5% threshold for considering interest rate hikes was set when unemployment rate was near 8%, Yellen reminds, emphasizing that it was a benchmark not a trigger. • The trend of increasing inequality in income and wealth in the US could be offset by the Fed's efforts to boost growth. • The Fed head acknowledges low household formation, high student debt, high house credit requirements. • She adds however that the sector should pick up and that despite higher mortgage rates they are low by historical standards. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 07, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 7, 2014 Author Share Posted May 7, 2014 GBP/USD deflates to 1.6960 FXStreet (Edinburgh) - The sterling is grinding lower on Wednesday, dragging the GBP/USD to test session lows in the 1.6965/60 region. GBP/USD correcting from peaks Spot continues to correct from Tuesday’s multi-year peaks in levels just shy of 1.7000 the figure following the risk-off mood in the global markets. Next of note in the UK economy will be tomorrow’s BoE MPC meeting, with market consensus expecting the central bank to keep its ‘on-hold’ stance. However, as the unemployment rate is now below 7%, market participants will closely follow the statement or announces (if any) in such regard. “While we remain above the 1.6775/1.6825 zone the risk opens up for tests on the next resistance levels located at 1.6960/80 initially, followed by 1.7150 and final extension target comes in around the 1.73 area”, noted Paul Robson, Senior FX Strategist at RBS. GBP/USD levels to watch At the moment the pair is losing 0.04% at 1.6966 with the immediate support at 1.6900 (psychological level) ahead of 1.6870 (10-d MA) and then 1.6866 (low May 7). On the upside, a breakout of 1.6997 (2014 high May 6) would aim for 1.700 (psychological level) and finally 1.7044 (high Aug.5 2009). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 07, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 7, 2014 Author Share Posted May 7, 2014 Gold tumbles below $1,300 FXStreet (Córdoba) - Spot gold bottomed after Yellen speech at $1,294 and reached the lowest price since last Friday. Before the statement the yellow metal was weak moving away from the highs. Gold finds resistance near $1,315 On European hours XAU/USD rose to test the key short term resistance area around $1,315 but failed to break and reversed. The downside accelerated below $1,308 and after the Fed’s Chairman initial words plummeted below $1,300. Gold remains near the lows and currently trades at $1,296, $10 below the price it closed yesterday as President Putin said that Russian troops pulled back from Ukraine border, easing tensions. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 07, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 8, 2014 Author Share Posted May 8, 2014 USD/CAD bounces off 1.0870 FXStreet (Edinburgh) - The greenback is now gathering pace against its neighbour on Thursday, extending the USD/CAD rebound from session lows in sub-1.0870 levels. USD/CAD consolidates below 1.0900 The pair continues to stabilize below the 1.0900 key handle, keeping the lower end of the weekly range after Tuesday’s deep pullback. In the data front, US Initial Claims dropped to 319K in the week ended on May 2 and Canadian Housing Starts rose to 194.8K on an annual basis in March, exceeding estimates. “The first relevant retracement level stands at 1.0958 and, from there, a more assertive climb would require breaching 1.1019 — the next retracement level, which coincides with the 40-day MA”, said Shaun Osborne, Chief FX Strategist at TD Securities. USD/CAD levels to watch As of writing the pair is down 0.10% at 1.0891 with the next support at 1.0874 (low May 6) ahead of 1.0860 (38.2% of 1.0182-1.1279) and then 1.0858 (low Apr.9). On the upside, a break above 1.0961 (high May 6) would open the door to 1.0980 (21-d MA) and finally 1.1007 (high May 2). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 08, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 8, 2014 Author Share Posted May 8, 2014 ECB's Draghi: ECB comfortable with acting in June FXStreet (Łódź) - During the Q&A part of the press conference Draghi says that he is waiting for ECB staff inflation projections which will be available at the beginning of next month. • Draghi says that the Governing Council discussed taking action and that the “ECB is comfortable with acting in June.” • Low inflation in the Eurozone is mainly caused by lower energy prices. Weak demand, high unemployment and FX are other reasons, the ECB chief suggests. • Stronger euro combined with lower inflation “is cause for serious concern.” • “The exchange rate is not a policy target, but the concern over the exchange rate will have to be addressed.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 08, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 8, 2014 Author Share Posted May 8, 2014 Euro loses shine as Draghi says 'comfortable with acting next time' FXStreet (Córdoba) - Draghi takes the wind out of euro's sails by hinting at June action. He said the ECB is comfortable with acting "next time", sending the shared currency to fresh lows versus most competitors. However, many analysts are doubting the ECB will actually deliver next month as the central bank has let the market down this path in the past. Nevertheless, his words were enough to halt EUR short term rally. The EUR/USD lost more than 100 pips in a matter of minutes and dropped from a 2 ½-year high of 1.3992 to a daily low of 1.3878. The EUR/GBP fell to a nearly 3-month low of 0.8187, while the EUR/JPY hit a 10-day low of 141.09. "Reading between the lines, it appears that even if Draghi himself wanted to ease policy, he is institutionally constrained by the need for consensus", said Marc Chandler, analyst at BBH. "Several of the creditor countries, led by Germany, are more worried about interest rates being too low for too long then the lowflation. Note that as the euro area expands, the ECB is going to adopt a rotating voting basis, and this will add a new wrinkle into ECB meetings next year". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 08, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 8, 2014 Author Share Posted May 8, 2014 Turkey Treasury Cash Balance fell from previous -4.64B to -9.29B in April Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 08, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted May 8, 2014 Author Share Posted May 8, 2014 Oil prices higher on China FXStreet (Edinburgh) - Malcolm Graham- Wood, Independent Analyst, noted the recent Chinese data was behind the higher prices of crude oil. Key Quotes “The oil price rose yesterday as a number of factors had an impact, none more so than the Chinese data which came in two forms. The economic stats which beat consensus were good, particularly in the export figures whilst the oil numbers were even more surprising. Crude oil imports for April were up 22.4% m/m and the y/y figure was up 11.5%, I had speculated that they would be buying more a little while ago but this figure was even higher than that” “The EIA inventory numbers were similar to the API ones the day before and therefore caught the Wall Street scribblers off guard once again but that comes as no surprise. A crude draw of 1.8m barrels was set against forecasts of a build of 1.4m and given refineries are buying ahead of the driving season was no great surprise. Finally it seems that President Putin is being a tad more conciliatory regarding the Ukraine but then again when did we ever believe anything on that front”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 08, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
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