OctaFX_Farid Posted July 24, 2014 Author Share Posted July 24, 2014 S&P 500 inches to new record high - ForexTrading.TV FXStreet (Łódź) - Nicole Elliott, currency analyst at ForexTrading.TV points out that the S&P 500 is climbing towards a new record high. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 24, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 24, 2014 Author Share Posted July 24, 2014 GBP/USD hits fresh 1-month lows FXStreet (Córdoba) - The GBP/USD fell further below 1.7000 and printed a fresh 1-month low at the beginning of the New York session as the greenback strengthened on the back of upbeat jobless claims data. Today’s UK retail sales release was disappointing which in addition to less hawkish than expected BoE minutes published yesterday, weighed on the Cable, pushing it further away its 6-year peak of 1.7190 scored last week. The pair has fallen for seven trading days in a row, retracing almost 50.0% of its May-July rise between 1.6692/1.7190. Having scored a low of 1.6968, the GBP/USD is currently trading at 1.6975, recording a 0.38% loss on Thursday. GBP/USD technical levels In terms of technical levels, the GBP/USD could find next supports at 1.6951 (Jun 25 low), 1.6940 (61.8% Fibo of 1.6692/1.7190) and 1.6919 (Jun 18 low). On the flip side, resistances are seen at 1.7052 (Jul 24 high), 1.7094 (Jul 23 high) and 1.7100/02 (psychological level/20-day SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 24, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 24, 2014 Author Share Posted July 24, 2014 United States Kansas Fed manufacturing activity climbed from previous 2 to 11 in July Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 24, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 25, 2014 Author Share Posted July 25, 2014 Germany IFO - Business Climate came in at 108, below expectations (109.4) in July Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 25, 2014 Author Share Posted July 25, 2014 Germany IFO - Current Assessment came in at 112.9 below forecasts (114.5) in July Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 25, 2014 Author Share Posted July 25, 2014 EUR/USD slides as hopes are killed FXStreet (Moscow) - EUR/USD retreated from session high at 1.3475, and slid to 1.3460 area right before the IFO release; it moved to 1.3450 post data. When IFO is out The chances to see good IFO numbers were slim, as Germany has shown some slackness in recent industrial and business data. The released yesterday PMI data did give a hope, but when the IFO expectations index came out at 103.4 vs. 104.5, the pair immediately reacted with a slide to 1.3450 area, and if the support is broken the next target may become 1.3414. The other components of the report disappointed as well confirming the weakness evolving in the German economy. What are today’s key EUR/USD levels? Today's central pivot point can be found at 1.3462, with support below at 1.3439, 1.3414 and 1.3391, with resistance above at 1.3487, 1.3510, and 1.3535. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.3535 and the daily 20EMA bearish at 1.3554. Hourly RSI is bearish at 54. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 25, 2014 Author Share Posted July 25, 2014 Japan’s Suga signals further sales tax hike to be decided around December FXStreet (Łódź) - Japan's Chief Cabinet Secretary Yoshihide Suga said today in Tokyo that the government would debate the second increase of the sales ta,x to 10%, at the end of the year. He assured that FY15 budget compilation wouldn’t extend beyond year-end. The USD/JPY returned to highs at 101.82 following the announcement. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 25, 2014 Author Share Posted July 25, 2014 All eyes on the Fed and US NFP next week- FXStreet FXStreet (Łódź) - According to FXStreet Chief Analyst Valeria Bednarik the fate of the US dollar next week depend on the result of the Federal Reserve monetary policy meeting, the US GDP as well as the jobs data releases. Key quotes “As for the FOMC, the fact is that not much should be expected, as there is no press conference scheduled post meeting.” “A statement will of course be released as usual, and market expects it to confirm QE will end following the October meeting, not a surprise anymore; attention will focus particularly in any line regarding the current assessment of the labor market, a barometer of when rates will be hiked.” “And while labor market indicators had been for the most mixed, the main indicator, Nonfarm Payrolls, will be release after the meeting, which signals the FED will likely maintain previous meetings wording. In that case dollar can suffer a setback, on diminishing expectations of a rate hike.” “If the wording changes however, and the FED eases its view on employment recovery anyway, dollar will likely get a boost.” “When it comes to employment figures, unemployment rate stands at 6.1% Fed’s year-end target and an over 5 years’ low, while past month, the economy managed to add 288K new jobs.” “For this month market expectations are of 230K new jobs added which will fit average and therefore be understood as positive.” “The problem is still the participation rate, which measures the total number of people either employed or actively looking for work, a number the FED likes to ignore completely: the labor force participation rate for all ages stands at 62-8, the lowest since 1978.” “Nevertheless, if the numbers results above expected, investors will likely choose to price in a sooner than expected rate hike, more over if FED statement confirms purchase programs will end upcoming spring, with dollar edging higher across the board.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 25, 2014 Author Share Posted July 25, 2014 Barclays: FOMC meeting will likely not be a market mover - eFXnews FXStreet (Łódź) - The eFXnews team remark that Barclay’s doesn’t expect much action from the Fed at its monetary policy meeting on Wednesday. Key quotes “The statement may note that the final reduction in purchases would occur following the October meeting, but that should not be a surprise to anyone.” “The Fed may upgrade the assessment of the labor market.” “At the April meeting, the statement noted that ‘Labor market indicators were mixed but on balance showed further improvement. The unemployment rate, however, remains elevated’.” “At the June meeting, the statement noted that ‘Labor market indicators generally showed further improvement. The unemployment rate, though lower, remains elevated’.” “Information received on the labor market front since then has been unequivocally strong. All measures have shown improvement and the unemployment rate has already dropped to the Fed’s year-end central tendency range of 6.0-6.1%.” “While we do not expect the Fed to remove the ‘elevated’ from the statement yet, it is very possible later this year, in our view." ‘This content has been provided under specific arrangement with eFXnews.’ OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 25, 2014 Author Share Posted July 25, 2014 USD: plenty of upside room - Scotiabank FXStreet (Córdoba) - Camilla Sutton, analyst at Scotiabank notes that markets dynamics are changing toward broad USD strength and there is plenty of upside room. Key Quotes “The first half of 2014 was marked by the lack of a broad movement in the USD; instead the focus was on the domestic stories; with NZD rallying on RBNZ policy, GBP on strengthening domestic fundamentals, JPY on shifting expectations for the BoJ and firming inflation; while others were weak, like SEK and NOK. However since the end of June currencies have broadly shifted towards USD strength which warns of an overall change in market dynamics”. “The DXY is higher and trading above its average level; however still not above its June highs, accordingly if we are in the midst of a shift there is plenty of upside room”. “Some of the broad strength is on the back of rising geopolitical risks but the fundamentals are also at play with US labour markets and inflation firming the relative interest rate story is increasingly important”. “The key will be the developments at the Fed next week. It is likely too early for a broad and strong USD rally; but for some currencies, like EUR, we appear to be at the beginning of a new (and long awaited) downward slide”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 25, 2014 Author Share Posted July 25, 2014 USD/CAD extends gains, hits 9-day high FXStreet (Córdoba) - The USD/CAD took another step higher and rallied to fresh weekly highs as the greenback strengthened during the American session. The USD/CAD broke above the 1.0770 area and triggered some stops on its way toward 1.0785 although it lost momentum ahead of the top of its past weeks' range. At time of writing, the pair is trading at 1.0780, 0.34% above its opening price. USD/CAD technical outlook “Technical studies warn of upside risk, even as USD/CAD sits within ten day range”, said Camilla Sutton, analyst at Scotiabank. “A break above this range (1.0794) would add momentum to long USD/CAD trades”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 25, 2014 Author Share Posted July 25, 2014 FOMC: No hurry to hike - Rabobank FXStreet (Guatemala) - Analysts at Rabobank explained that they expect the FOMC to remain on its $10bn/meeting tapering course on July 30. Key Quotes: “Given the Fed’s tapering inertia and the re-acceleration of the economy since the extreme winter weather, we expect the FOMC to remain on its $10bn/meeting tapering course on July 30. This will bring down monthly asset purchases to $25bn, from $35bn”. “Meanwhile, the debate between hawks and doves about the amount of slack in the economy has shifted to wages”. “As long as wage growth remains muted, the doves – who have an overwhelming majority in the FOMC – will see this as evidence of ample slack and consequently they won’t be in a hurry to start hiking the fed funds target rate”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 25, 2014 Author Share Posted July 25, 2014 USD/JPY remains in the range despite data flows FXStreet (Guatemala) - USD/JPY is trading at 101.78, down -0.01% on the day, having posted a daily high at 101.95 and low at 101.71. USD/JPY is a non-mover yet again, stuck in the rage while it remains soft looking. Meanwhile, daily RSI is in neutral territory at 53.28. On the hourly USD/JPY chart, the 200 SMA is climbing and currently at 101.68, up from the previous hour close at 101.53. Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted that headline CPI printed at 3.6%y/y, ex fresh food was at 3.3%y/y and ex food and energy was at 2.3%y/y. “The release is still distorted from the impact of the consumption tax; but has provided evidence of firming prices in Japan. From the BoJ perspective this likely provides some cover from having to turn towards more aggressive policy in the near-term; however developments to date still suggest that further JPY weakness will be an important piece. USD/JPY Levels With spot trading at 101.78, we can see next resistance ahead at 101.87 (Yesterday's High) and 101.95 (Daily High). Support below can be found at 101.75 (Weekly Classic R1), 101.61 (Daily 20 SMA) and 101.56 (Hourly 100 SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 26, 2014 Author Share Posted July 26, 2014 Session recap - USD ends the week as king pin FXStreet (Guatemala) - We had a quiet session without much in the way of stimuli besides the US durable goods number which came in better than expected. Instead, we can look at the week overall and the dollar has come out the king of this week amongst the G10’s with a higher yield despite the mount of miserable data over the past couple of days. We have in the main simply held onto the positive results from the unemployment claims that have fallen to their lowest levels in around eight years. EUR/USD has been a non-event in the US session moving within a tight non-compelling range despite the lows of 1.3422 on the dismal French jobs numbers. USD/JPY was yet again a slow burner and without events the pair remains in its daily range, with 102 handle proving out of sight on attempts that left it reaching only as high as 101.90. GBP/USD was the least active and 1.7000 wasn’t to be at the end of this week. This leaves it in a bearish position. Key events: US durable goods better than expected French jobless disappoint and rise to a record 3.4 million OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 28, 2014 Author Share Posted July 28, 2014 Specs keeps selling the Euro - Nomura FXStreet (Bali) - David Fritz and Jens Nordvig, FX Strategists at Nomura, look at the latest changes in futures positioning, noting that specs kept selling the Euro for the week ended July 22. Key Quotes "For the week ended July 22, non-commercial accounts continued to sell EUR. On the week ended Tuesday, speculators sold $4.3bn and we estimate they sold an additional $2.0bn since. The EUR was mainly sold against USD, which gained $3.9bn of longs into Tuesday and a further $2.5bn by Friday‟s close." "Speculative accounts sold $4.3bn of EUR by Tuesday, increasing total net shorts to -$15.0bn. This is the most net short EUR has been since November 2012. By Friday we estimate that positioning in EUR had gotten even more net short, to -$16.9bn. Positioning in EUR was only more net short in May 2010 and for a few months starting in November 2011." "JPY shorts were cut on the week ended Tuesday by $1.1bn, bringing spec positioning in JPY to -$6.6bn. This equals the least net short JPY has been since November 2012. This could reflect sentiment that markets are accepting less chance of further easing by the BOJ and losing conviction in yen weakness as USDJPY has been trading sideways for months." "CAD positioning continues to get more net long, even as the Canadian dollar depreciates. Positioning in CAD stood at $1.9bn by Tuesday and remained there through Friday. This is again the most net long CAD has been since February 2013." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 28, 2014 Author Share Posted July 28, 2014 AUD/NZD: Short opportunity near term? FXStreet (Bali) - AUD/NZD is trading in consolidation mode just below the 1.10 handle, following a daily bearish doji candle on Friday, after 9 days of unperturbed gains for the pair. Peter Fell, Analyst at FXBeat, notes: "The world seems to have turned bearish Kiwi, to my mind nothing much has changed, rates are on pause, but the next move is higher, intervention is likely just to be more jawboning. Sovereign demand is not going to disappear, the global hunt for yield will continue." Peter adds: "That being said, a fairly low risk trade to buy NZD would be against the Aussie, recent forays above 1.10 have proved exhaustive, the last couple of days has seen a possible double top at 1.1016, if that is the case, there is scope for the cross to trade back to 1.0866, 38.2% fibo on the 1.0624 / 1.1016 rise, 1.0820 is the 50% fibo on the same move, a move above the June high of 1.1036 and all bets are off." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 28, 2014 Author Share Posted July 28, 2014 Strong USD bias in the period ahead - ANZ FXStreet (Bali) - ANZ FX Strategists are betting for a strong USD bias in the period ahead. Key Quotes "We retain a strong USD bias in the period ahead. We expect volatility to show an increased tendency to behave in a step function." "Volatility might be very low for a period, but when it rises, it rises abruptly and substantially. A portfolio that is overweight carry or momentum strategies, under-weighting valuation as a currency screen, or overweight assets in markets where liquidity can be one-sided, are likely to find this challenging." "On this basis, we continue to expect peripheral currency weakness to be the dominant trend. We also, for the first time, expect the EUR to be part of this dynamic, if but only in the near-term. To the extent this EUR view is driven at least partly by the USD side of the equation, we remain distrustful of calls for broad EUR weakness on the crosses." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 28, 2014 Author Share Posted July 28, 2014 USD/JPY capped by 200 DMA still FXStreet (Guatemala) - USD/JPY is trading at 101.78, down -0.05% on the day, having posted a daily high at 101.85 and low at 101.75. USD/JPY is a slow start to the week, below the 200 DMA still, with the Nikkei down, no events on the calendar and if going by what we have been playing with in recent ranges, then we can presume the next couple of days at least will remain at a slow pace. Looking to a daily chart, we see that RSI is neutral at 53.69 but four hour indicators give us overbought signals. The 200 SMA is currently at 101.71, up from 101.53 at the last period close, and climbing on the hourly USD/JPY chart. USD/JPY Levels Current price is 101.79, with resistance ahead at 101.80 (Hourly 20 EMA) and 101.85 (Daily High). Next support to the downside can be found at 101.75 (Low), 101.66 (Weekly Classic PP) and 101.63 (Daily 20 SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 28, 2014 Author Share Posted July 28, 2014 The week ahead could get volatile - Rabobank FXStreet (Guatemala) - Analysts at Rabobank noted that today has no Asian or European data, with only US Markit services PMI and pending home sales but they look ahead at the rest of the key impactors for the week. Key Quotes: “Tomorrow has Japanese unemployment and retail sales, UK mortgage approvals, and the US S&P/Case-Shiller house price index (given what happened in the US housing bubble, the “shill” part of Case-Schiller always raises a smile), and consumer confidence. The FOMC meeting also starts”. “Wednesday has Japanese industrial production, German CPI, and US ADP employment (which was spot on with the NFP release last month so may get more attention this time). Moreover, we also get Q2 US GDP, which is expected at 3.0% QoQ annualized: that sounds positive, but isn’t really when one considers it was -2.9% in Q1, and given it is not a YoY figure, there should have been a larger bounce than that. Following that we get the FOMC decision, where unless there is a huge shock in the GDP data we can comfortably expect another USD10bn QE tapering tranche”. “Thursday has Aussie building approvals and private-sector credit, UK house prices, German retail sales and unemployment, Indian fiscal data, and US initial claims and the Chicago PMI”. “Friday has China’s official manufacturing PMI, Aussie PPI, the Indonesia and India manufacturing PMIs, and US payrolls for July – expectations are at 231K, down from 288K last month, with unemployment seen steady at 6.1% (officially - versus 12.1% underemployment in June)”. “There is also final Michigan confidence and the ISM manufacturing survey. In short, if we are going to see a return of volatility, this week provides a good platform for it”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 28, 2014 Author Share Posted July 28, 2014 AUD/USD giving up its gains and coming bearish - FXStreet FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the Australian dollar finally gave up. Key Quotes: “Australian dollar finally gave up all of it latest gains against the greenback, consolidating now around the 0.9400 figure and looking short term bearish, with price below its 20 SMA in the hourly chart, and indicators below their midlines, albeit showing no actual strength at the time being”. “In the 4 hours chart the bearish tone coming from technical readings is stronger, eyeing now 0.9370 immediate support as a break below it exposes the pair to a test of critical 0.9330 price zone”. “Support levels: 0.9370 0.9330 0.9300”. “Resistance levels: 0.9420 0.9460 0.9500”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 28, 2014 Author Share Posted July 28, 2014 NZD/USD chugging along the on the downside FXStreet (Guatemala) - NZD/USD is trading at 0.8541, down -0.16% on the day, having posted a daily high at 0.8559 and low at 0.8538. We are starting-off very quiet, commencing from where we left off after that dramatic fall from above the 0.87 handle last week that leaves NZD/USD here “chugging” along on the downside. Without anything NZD/USD is trading at 0.8541, down -0.16% on the day, having posted a daily high at 0.8559 and low at 0.8538. We are starting-off very quiet, commencing from where we left off after that dramatic fall from above the 0.87 handle last week that leaves NZD/USD here “chugging” along on the downside. Without anything on the calendar until the US opens, it is likely to remain quiet until then, albeit not with anything there particularly key either. However, as the week goes on then the more crowded the US calendar becomes and we may be in for a volatile time. In the mean time for NZD/USD, FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish. Daily RSI is in neutral territory at 33.18. NZD/USD Levels Spot is presently trading at 0.8541, and next resistance can be seen at 0.8553 (Daily Open) and 0.8559 (Daily High). Next support to the downside can be found at 0.8532 (Daily Classic S1), 0.8510 (Daily Classic S2) and 0.8488 (Weekly Classic S1). ">on the calendar until the US opens, it is likely to remain quiet until then, albeit not with anything there particularly key either. However, as the week goes on then the more crowded the US calendar becomes and we may be in for a volatile time. In the mean time for NZD/USD, FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish. Daily RSI is in neutral territory at 33.18. NZD/USD Levels Spot is presently trading at 0.8541, and next resistance can be seen at 0.8553 (Daily Open) and 0.8559 (Daily High). Next support to the downside can be found at 0.8532 (Daily Classic S1), 0.8510 (Daily Classic S2) and 0.8488 (Weekly Classic S1). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 28, 2014 Author Share Posted July 28, 2014 Leveraged funds increase EUR bearish bets - ANZ FXStreet (Bali) - Khoon Goh, Senior FX Strategist at ANZ, reviews the latest changes in the CFTC specs positioning for the week ending 22 July 2014, noting that leveraged funds increased their bearish bets against the EUR. Key Quotes "Leveraged funds increased their bearish bets against the EUR by 19k contracts (worth USD3.1bn), bringing their total net short position to 68.2k (USD11.5bn). This is the largest short position since November 2012. It is notable that this large shift comes after five weeks of relatively stable positioning, indicating renewed bearishness on the euro’s outlook." "Of course, the more bearish view on the EUR could also reflect a more positive outlook on the USD. Net short positions against the greenback have been reduced by USD3.0bn to USD0.5bn." "For the second consecutive week, yen saw the largest net buying, further reducing overall JPY net short positions by 8.5k contracts (worth USD1.0bn) to 45.2k (worth USD5.6bn). However, the shifts in positioning have once again failed to elicit a move in USD/JPY, which continues to trade within a tight range." "Net long positions in GBP have been reduced for the fourth consecutive week. This is possibly an indication that leverage funds see limited scope for further gains in sterling, and are actively unwinding their net long exposure, which still remains large at 102.6k contracts worth USD10.9bn." "Positioning in NZD was reduced slightly ahead of the RBNZ decision on 24 July. The sharp decline in the NZD following the RBNZ decision suggests a sharp unwinding of long positions occurred. There were only minor changes to AUD positioning, which was reflected in the AUD/USD’s movements during that period." "Net long non-commercial position in gold rose by 6.5k contracts to 166.7k. Net long positioning in WTI crude oil fell by 9.9k contracts to 390k. This is the fourth consecutive weekly decline in oil positioning since it reached historic highs in late June." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 28, 2014 Author Share Posted July 28, 2014 Lower milk price to highlight ‘unjustified’ NZD - BNZ FXStreet (Guatemala) - Stephen Toplis, Head of Research at BNZ explained that Fonterra is expected to announce its dividend intentions by Thursday. Key Quotes: “This is a grand opportunity for the dairy giant to also revise its milk price forecast for the 2014/15 season. Any milk price change will receive attention, especially with very little else on the local calendar”. “While both the dividend and milk price forecast are of interest, it is the latter that carries more macroeconomic importance”. “Indeed, it is the NZD’s resilience to the likes of the dairy (and log) price declines that was very much likely part of the reason why the RBNZ labelled the level of the NZD ‘unjustified’ at last week’s OCR announcement”. “With words like that it has got the market abuzz with intervention chatter”. “It will certainly put more attention on Wednesday’s Reserve Bank figures that will show how many NZ dollars the bank bought or sold, on net, even if the data are a bit dated being for the month of June”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 28, 2014 Author Share Posted July 28, 2014 Scope for sustained EUR/AUD bounce limited - TDS FXStreet (Bali) - According to the FX Team at TD Securities, scope for any sustained EUR rebound against the Aussie appears to be limited. Key Quotes "The underlying trend lower in EURAUD remains strongly entrenched in the market, suggesting that in an environment of broader USD appreciation, the EUR is likely to under-perform." "The cross has rebounded modestly through the latter part of the week but, with the DMI oscillator reflecting an intense trend lower unfolding across a range of time frames, we rather think that scope for any sustained EUR rebound is limited." "With the EUR slipping and holding below the base of the June/July consolidation channel (bear flag), we continue to look for a drop to the 1.39 area." "We also think the early June low at 1.4364 will help slow EURAUD rebounds near-term. Look to sell modest rallies." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted July 28, 2014 Author Share Posted July 28, 2014 Kiwi resumes its stone-like flight FXStreet (Moscow) - NZD/USD started Monday with the gap higher at 0.8551 after closing at 0.8536 on Friday, but the upside was not sustained and the pair dipped to current level of 0.8541. Is kiwi doomed? NZD/USD finished the second deeply bearish week in a row, which is a gloomy sign for the longer-term kiwi perspective. But strictly speaking, weekly technical picture has not turned completely bearish yet, as the series of rising bottoms is not broken. It means that kiwi bulls might try to seize the power and drive NZD/USD at least to 0.8675 resistance are. This development would be regarded as a healthy correction from deeply oversold levels, but further upside is questionable as some kiwi bearish factors might come into play any time soon. Risk sentiments, RBNZ verbal interventions and milk prices - just to name a few. On the intraday basis NZD/USD might return to Friday’s low at 0.8536, where new buying interest is likely to limit further downside, while the upside might be limited by 0.8550. What price levels and patterns have to be considered? Current price is 0.8536, with resistance ahead at 0.8538 (Yesterday's Low), 0.8553 (Hourly 20 EMA), 0.8553 (Daily Open), 0.8555 (Monthly Low) and 0.8555 (Weekly Low). Support below can be found at 0.8533 (Daily Low), 0.8532 (Daily Classic S1), 0.8510 (Daily Classic S2), 0.8488 (Weekly Classic S1) and 0.8481 (Daily Classic S3). Regarding candlestick formations, we can see Dark Cloud Cover formation on the 4-hour . OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page July 28, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
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