OctaFX_Farid Posted August 22, 2014 Author Share Posted August 22, 2014 What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank FXStreet (Edinburgh) - The EUR/USD is staging some sort of recovery from yesterday’s multi-month lows near 1.3250, ahead of the key Jackson Hole Symposium. “In the run-up to Yellen and Draghi later today, market skepticism towards any rebound beyond 1.3330 is expected to mount while 1.3230 may continue to attract. As noted previously, any hawkish hints out of the Fed are likely to be juxtaposed against the ECB’s ongoing dovishness and this may continue to weigh on the pair”, noted Emmanuel Ng, FX Strategist at OCBC Bank. Axel Rudolph, Senior Technical Analyst at Commerzbank, observed the pair “probed the 38.2% Fibonacci retracement of the 2012-14 rise at 1.3249 and briefly made a new August low at 1.3242 before stabilising on Thursday. A minor bounce is thus likely to be seen… Minor resistance comes in around 1.3333/36 and more important resistance along the three month downtrend line at 1.3422”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 22, 2014 Author Share Posted August 22, 2014 USD/JPY points to consolidation near term – Commerzbank FXStreet (Edinburgh) - In the view of Axel Rudolph, Senior Technical Analyst at Commerzbank, the pair could attempt a consolidation pattern in the very near term. Key Quotes “USD/JPY has now risen above the March high at 103.77 and so far rose to 103.96. It continues to have the April peak at 104.13 in focus but is expected to consolidate below it today”. “Together with the 104.45 78.6% retracement, 104.13 is regarded as the last defence for the 105.45 2014 high”. “Minor support comes in around the July peak at 103.15”. “We will retain our bullish view while USD/JPY remains above the current August low at 101.51”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 22, 2014 Author Share Posted August 22, 2014 USD/CAD in highs near 1.0960 FXStreet (Edinburgh) - The greenback is resuming its rally on Friday, taking the USD/CAD to test session highs near 1.0960. USD/CAD focus on CPI The pair is extending its bounce off overnight lows in the 1.0930 area, ahead of the key inflation figures due in Canada later. Market consensus expects headline consumer prices to expand at an annual rate of 2.3% in July, down from June’s 24%; Core prices are expected to tick higher to 1.9% over the last twelve months vs. 1.8% YoY previous. “Short, medium and long-term trend studies are still bullishly aligned so we expect softness to base around short-term trend support at 1.0934 currently”, noted Shaun Osborne, Chief FX Strategist at TD Securities. USD/CAD levels to watch At the moment the pair is up 0.14% at 1.0957 and a breakout of 1.0987 (high Aug.21) would open the door to1.1007 (high May 2) and then 1.1053 (high Apr.23). On the flip side, the next support aligns at 1.0933 (low aug.20) ahead of 1.0899 (high Aug.18) and finally 1.0870 (200-d MA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 22, 2014 Author Share Posted August 22, 2014 USD bullishness remains intact FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, observed the firmer tone from the US dollar. Key Quotes "more strong US data ahead of speech from Fed Chair Yellen The US dollar has weakened modestly in the Asian trading session paring gains recorded after the release of the more hawkish than expected FOMC minutes. The dollar index has almost fully retraced its initial move higher following the release of the minutes on Wednesday alongside the pullback in long-term US yields, although short-term US yields still remain higher. The US dollar has been able to hold onto more of its recent gains against the yen with USD/JPY having broken out to the upside from its recent tight trading range between the 101.00 and 103.00 levels." "The relative underperformance of the yen is also likely a reflection of both building expectations of accelerated monetary easing from the BoJ, and the ongoing easing of safe haven demand for the yen. Global investor risk sentiment has continued to improve this week with US equities rising to a new record high overnight having fully retraced their correction lower from earlier this month. Risk assets and more high beta currencies like the Australian dollar are reacting favourably to further evidence that the US economy is continuing to strengthen while US yields continue to remain close to recent lows." "A batch of stronger than expected economic reports was released yesterday from the US which has supported global investor risk sentiment and reinforces the case for a stronger US dollar in the near-term. The release of the latest manufacturing PMI survey revealed that business confidence increased by 1.2 point to 58.0 in August." "It was the highest level since April 2010 providing further evidence that robust manufacturing growth momentum has been sustained so far in Q3. The Philly Fed business outlook survey also increased by 4.1 point to 28.0 in August, and the index of leading indicators by a robust 0.9% in July. The leading index has increased by an average of 0.7%/month over the last three months bringing it back into line with the strong growth momentum evident late last year prior to the Q1 slowdown." "The pullback in the US dollar overnight ahead of today’s keynote speech from Fed Chair Yellen is understandable following the strong gains recorded earlier this week and the likelihood that Fed Chair Yellen continues to sound dovish which is likely encouraging a paring of long US dollar positions. As we have stated before we do not expect Fed Chair Yellen’s speech on the labour market today to a signal a shift in Fed monetary policy rather she is more likely to reiterate her view that labour market conditions continue to improve but that there is still significant underutilisation of labour market resources allowing the Fed to maintain loose monetary policy." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 22, 2014 Author Share Posted August 22, 2014 Canada Bank of Canada Consumer Price Index Core (MoM) below expectations (0%) in July: Actual (-0.1%) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 22, 2014 Author Share Posted August 22, 2014 Canada: CPI (Jul) rose 2.1% YoY FXStreet (Edinburgh) - Canadian headline consumer prices rose 2.1% on a year through July, missing forecasts for a 2.3% gain. On a monthly basis prices contracted 0.2%, vs. -0.1% expected. The Bank of Canada Core CPI rose 1.7% over the last twelve months and dropped 0.1% inter-month. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 22, 2014 Author Share Posted August 22, 2014 USD/CAD spiked to 1.0980 on data FXStreet (Edinburgh) - The Canadian dollar has abruptly depreciated just beyond 1.0980 vs. the greenback on Friday, although the USD/CAD quickly returned to the mid-10900s. USD/CAD neutral post-CPI The quick climb to fresh tops around 1.0980 proved to be ephemeral, as spot is now hovering over the 1.0950/45 region. Consumer prices in the Canadian economy expanded 2.1% on a yearly basis and contracted 0.2% inter-month, both prints missing previous estimates at 2.3% and -0.1%, respectively. Core prices, gauged by the BoC also disappointed traders, coming in at 1.7% YoY and -0.1% MoM. The positive news followed a better-than-expected Retail Sales figures, advancing 1.1% in June. Camilla Sutton, Chief FX Strategist at Scotiabank commented that “short term technicals are mixed with some studies warning of upside risk and others warning of downside risk, leading to a range bound environment”. USD/CAD levels to watch At the moment the pair is up 0.10% at 1.0952 and a breakout of 1.0987 (high Aug.21) would open the door to1.1007 (high May 2) and then 1.1053 (high Apr.23). On the flip side, the next support aligns at 1.0933 (low aug.20) ahead of 1.0899 (high Aug.18) and finally 1.0870 (200-d MA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 22, 2014 Author Share Posted August 22, 2014 USD/JPY bulls let their chance slip through the fingers; 104.00 is still unbroken FXStreet (Moscow) - USD/JPY touched the intraday high at 104.06 on the back of Yellen's comments, but the bullish momentum was not strong enough as the pair returned to its old range, currently trading at 103.90 Unhelpful Yellen Janet Yellen has driven markets crazy with her so long awaited speech in Jackson Hole. She stated that rates might be raised sooner if there is a faster progress on goals, while slower progress will delay rate increase. Sounds like she tries to have something for bears and something for bulls at the same time. Investors hoped that this speech will help them to shape a clear USD direction, but they might get nothing more that just a bout of volatility. Thus USD/JPY returned below 104.00 level. The nearest support is still at 103.60. What price levels and patterns have to be considered? Spot is presently trading at 103.94, and next resistance can be seen at 103.97 (Yesterday's High), 104.01 (Daily Classic R1), 104.07 (Daily High), 104.18 (Daily Classic R2) and 104.39 (Daily Classic R3). Support below can be found at 103.85 (Daily Open), 103.85 (Monthly High), 103.85 (Weekly High), 103.81 (Daily Classic PP) and 103.78 (Hourly 20 EMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 25, 2014 Author Share Posted August 25, 2014 Geopolitical risks remain alive – Danske Bank FXStreet (Edinburgh) - According to Lars Christensen, Chief Analyst at Danske Bank, the situation in Ukraine continues to be alarming. Key Quotes “On the geopolitical front, Ukraine on Sunday marked its independence day, while intense fighting continued around the rebel-held city of Donetsk”. “On Friday, NATO Secretary General Anders Fogh Rasmussen said that the alliance had observed ‘an alarming’ build-up of Russian ground and air force near the border of Ukraine”. “Rasmussen’s comments likely have contributed to the negative sentiment in the markets since Friday”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 25, 2014 Author Share Posted August 25, 2014 European stocks boosted by Draghi FXStreet (Córdoba) - European stocks rose Monday as sentiment improved after European Central Bank President Mario Draghi lifted expectations of further policy easing. Speaking at a symposium of central bankers in Jackson Hole, Draghi said late on Friday the ECB is prepared to respond with all its available tools if inflation continues to fall. The Stoxx Europe 600 rose 0.61% to 338.81 in early trade Monday. The index gained 2.1% last week, the most since February. As for country-specific indexes the Germany’s DAX 30 advanced 1.13% while the France’s CAC 40 climbed 1.03%. Spain’s Ibex 35 added 0.83% while Italy’s FTSE MIB rose 0.97%. The UK market is closed today for a holiday. In the macroeconomic domain, German IFO survey showed German economy continues to lose strength. Business climate index fell to 106.3 vs 107 expected in August while current assessment dropped to 111.1 versus 112.0 and expectations index slid to 101.7 vs 102.0. In the currencies market, the US dollar continues to consolidate near multi-month highs after Fed Yellen not-so-dovish comments Friday. As for commodities, gold shed 0.17% to $1,278 an ounce while crude oil was nearly flat at $93.61 a barrel. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 25, 2014 Author Share Posted August 25, 2014 What’s the sentiment around the EUR/USD today? – Commerzbank and Westpac FXStreet (Edinburgh) - The EUR/USD is putting the 1.3200 critical support to the test on Monday, largely ignoring the poor IFO results and following the dovish appreciations from ECB’s Draghi over the weekend. “To the delight of the ECB, EUR/USD is probing lows since Sep 2013 and seems on track for substantial further decline multi-week/month… The data week ahead should tend mildly negative for EUR/USD but is overshadowed by the early Sep data flurry, so while retaining a downward bias on the week, we suspect new lows will only be marginal, with 1.3105 support to hold”, observed strategists at Westpac Global Strategy Group. In addition, Senior Technical Analyst at Commerzbank Axel Rudolph commented the pair “has slipped through the 38.2% Fibonacci retracement of the 2012-14 rise and the last week’s August low at 1.3249/42 and thus nears the September 2012 high at 1.3173 while en route to the 1.3105 September low and the psychological 1.3000 region”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 25, 2014 Author Share Posted August 25, 2014 EUR/USD reclaims 1.3200 FXStreet (Edinburgh) - The shared currency is now picking up pace and lifting the EUR/USD back to challenge the significant 1.3200 barrier. EUR/USD remains bearish The bearish tone from Mario Drgahi at the Jackson Hole Symposium is still weighing on the pair at the beginning of the week. Although spot seems to have absorbed quite well the disappointment from the German IFO series, the results added to a negative streak of data releases in the euro region, supporting the idea of further easing by the ECB at some point in the medium term. Analysts at BTMU assessed, “The deteriorating euro-zone economic growth outlook appears in more marked contrast to the improving US growth outlook in the near-term undermining the relative appeal of the euro compared to the US dollar… The elevated scale of speculative euro shorts may help to dampen further downside in the near-term, although widening economic divergences still argue in favour of a weaker euro. EUR/USD key levels At the moment the pair is losing 0.30% at 1.3200 with the next support at 1.3157 (low Sep.9 2013) followed by 1.3105 (low Sep.6 2013) and finally 1.3089 (low Jul.19 2013). On the flip side, a breakout of 1.3297 (high Aug.22) would aim for 1.3324 (high Aug,20) and then 1.3361 (21-d MA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 25, 2014 Author Share Posted August 25, 2014 GBP/USD fills the opening gap, nears 1.6600 FXStreet (Córdoba) - The GBP/USD has managed to extend its recovery during the European session, filling the downward opening gap in the process. The GBP/USD has been in slowly moving away from fresh 5-month lows scored at the opening, having regained the 50-hour SMA and moving closer to the 1.6600 zone. At time of writing, the Cable is trading at the 1.6590 zone, 0.10% above its opening price. In the absence of fresh economic data, investors are still assessing Friday’s Yellen speech, which was perceived as less dovish by markets. GBP/USD technical outlook “The overall outlook below 1.6600 intraday resistance remains bearish, for a slide towards 1.6460”, said Stoyan Mihaylov, analyst at Deltastock. “Crucial on the upside is 1.6650-70 area”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 25, 2014 Author Share Posted August 25, 2014 NZD/USD potential decline to 0.8300 – Westpac FXStreet (Edinburgh) - The research team at Westpac Global Strategy Group expects the downside pressure to drag the pair lower to the 0.8300 region. Key Quotes “The decline in NZD/USD, which started on 10 July from 0.8836, has resumed. From here we should see a continuation to 0.8300 during the days/weeks ahead”. “US factors pushing the USD higher are the main explanations, but NZ’s soft economic patch has also contributed (our short term economic data pulse model is currently pointing downwards), as has the RBNZ’s intervention threat voiced in July”. “We continue to target 0.8200 by year end”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 25, 2014 Author Share Posted August 25, 2014 USD longs keep building up - ANZ FXStreet (Barcelona) - ANZ Strategists, Khoon Goh and HuiYing Chan, assessed last spec positioning report. Key Quotes "Leveraged funds’ net long USD positioning increased, rising from USD16.1bn to USD19.6bn. Notably, this is the fifth consecutive week of increases. The increase this week was primarily against EUR and GBP." "Net short positioning in EUR was increased by USD2.2bn (13.4k contracts), likely as a result of lower-than-expected Q2 growth in the Eurozone. Total net short positions now stand at USD20.0bn. With 10 year German bond yields now below 1.0%, EURUSD could likely stay depressed for a short while." "Net long positions in GBP continued to be reduced for the eighth consecutive week, falling by USD1.3bn (11.8k contracts) with the release of Carney’s dovish comments at the Quarterly Inflation Report’s press conference on 13 August compared to his comments at the Mansion house. While Bank of England August Monetary Policy Committee meeting minutes on 21 August revealed that 2 out of 9 members voted for an increase in the base rate by 25bps, GBP/USD rallied only temporarily before falling further. Price action in this pair indicates that the reduction in net long positioning in GBP might continue even after 8 weeks of declines." "Net short Positioning in the JPY was increased by 5.0k contracts worth USD0.6bn to 71.9k contracts for an overall short position of USD8.7bn." "Net long positioning in the AUD increased by 7.6k contracts (USD0.7bn) as low volatility encouraged carry-seeking positions in AUDUSD." "The net long non-commercial position in gold fell by 13.1k contracts to 152.8k. Net long positioning in WTI crude oil fell by 2.8k contracts to 325.5k. This is the eighth consecutive weekly decline in oil positioning since reaching record highs in late June." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 25, 2014 Author Share Posted August 25, 2014 USD/CHF in multi-month peaks – Commerzbank FXStreet (Edinburgh) - Axel Rudolph, Senior Technical Analyst at Commerzbank, suggests the pair could climb to the 55-month MA round 0.9360. Key Quotes “USD/CHF is trading at levels last seen in November 2013 and now probes the 200 week moving average at .9157 and has the 55 month moving average at .9351 in its sights”. “This held the topside in 2012 and 2013 and is expected to do so again, at least for several days”. “Above here, at .9392, lies the 29 year downtrend. Only unexpected failure at the current August low at .9020 would allow for losses back to the three month uptrend line and the 55 day moving average at .9013/.9004 to occur”. “While this holds the bull trend remains entrenched”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 25, 2014 Author Share Posted August 25, 2014 GBP/USD capped by 1.6600 FXStreet (Edinburgh) - After dipping to multi-month lows in the area of 1.6540, the GBP/USD managed to climb back to the boundaries of 1.6600 the figure on Monday. GBP/USD surrenders early gains The initial GBP strength seems to have found selling interest in the vicinity of 1.6600 the figure, with spot being rejected to the 1.6580/75 band. There are no scheduled events in the UK economy today, leaving the US docket as the main catalyst for the pair’s price action. “While the undertone for GBP remains weak, the downward momentum is not strong and any further down-move is expected to struggle near 1.6500. However, only a break back above 1.6585 would indicate that a temporary low is in place”, suggested Quek Ser Leang, Market Strategist at UOB Group. GBP/USD levels to watch At the moment the pair is up 0.06% at 1.6580 with the next resistance at 1.6602 (high Aug.21) ahead of 1.6654 (10-d MA) and finally 1.6680 (high Aug.20). On the flip side, a breakdown of 1.6501 (low Aug.25) would target 1.6460 (low Mar.24) and then 1.6425 (low Feb.12). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 26, 2014 Author Share Posted August 26, 2014 USD/JPY settles below 104.00 FXStreet (Córdoba) - The USD/JPY surrendered the 104.00 level and settled in a slim range just below where it has spent the last hours. The USD/JPY failed to sustain gains above 104.00 and retreated to a low of 103.74 before the pullback was contained and was confined to a phase of consolidation. At time of writing, the pair is trading at 103.88, 0.15% below its opening price. Today focus will be on US data releases, with the durable goods orders and consumer confidence on tap. USD/JPY levels to watch As for technical levels, the USD/JPY could find immediate supports at 103.88 (Aug 26 low), 103.50 (Aug 22 low) and 103.08 (Jul 30 high). On the other hand, resistances are seen at 104.11 (Aug 26 high), 104.27 (Aug 25 high) and 104.84 (Jan 23 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 26, 2014 Author Share Posted August 26, 2014 European stocks slow down after sharp gains FXStreet (Córdoba) - European stocks were mixed Tuesday after a steep rally the previous day that were propelled by prospects of further stimulus measures from the European Central Bank. The Stoxx Europe 600 was flat at 340.48 in early trade. The index rallied 1.1% yesterday as investors price in further monetary stimulus by the ECB. As for country-specific indexes the UK FTSE rose 0.37%. The Germany’s DAX 30 dropped 0.39% and the France’s CAC 40 shed 0.08%. Spain’s Ibex 35 added 0.12% while Italy’s FTSE MIB dropped 0.31%. In the macroeconomic domain, there is no data scheduled for the Eurozone and focus will be on the US, where durable goods orders and consumer confidence are due. In the currencies market, the US is taking a breather near multi-month highs, after not-so-dovish Yellen speech in Jackson Hole triggered a rally across the board. As for commodities, gold gained 0.89% to $1,290 an ounce while crude oil advanced 0.10% to $93.44 a barrel. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 26, 2014 Author Share Posted August 26, 2014 Gold recovers from 2-month low FXStreet (Córdoba) - The yellow metal recovered some ground Tuesday and climbed back to the $1,290/oz area as the greenback eases across the board following a sharp rally inspired by not-so-dovish Yellen remarks in Jackson Hole. Gold prices edged higher but remained near 2-month lows as a firm dollar and better risk appetite continue to weigh on the metal. Gold for December delivery was up $9.10 or 0.70% at $1,288 an ounce, having hit a daily high of $1,292 in recent dealings. Prices hit a 2-month low near $1,273 on Aug 21 amid speculation of an eventual US rate hike. As for silver, the gray metal also edged higher, hitting a daily peak of $19.55 before easing slightly. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 26, 2014 Author Share Posted August 26, 2014 USD/CAD consolidates near 1.0970 FXStreet (Edinburgh) -The greenback is range-bounding vs. the Canadian dollar on Tuesday, with the USD/CAD meandering in a narrow range between 1.0960 and 1.0975 so far. USD/CAD focus on US docket Spot is probing the lower band of the intraday range around 1.0960, as the risk-on trade seems to be creeping back to the markets in the first half of the week. Ahead in the day, US Durable Goods Orders, Consumer Confidence and house prices gauged by the S&P/Case-Shiller index will take centre stage. “Corporate sellers ahead of the 1.10 and option expiries mid week at 1.10 (reportedly) may be restraining the topside for USDCAD and funds is getting off to a sluggish start here after the test of 1.10 overnight. But there is still keen interest to buy USDCAD from the real money sector and we look for limited weakness near term – solid support should emerge on dips to the low/mid 1.09s. We target a move to the low 1.11s near-term”, observed Shaun Osborne, Chief FX Strategist at TD Securities. USD/CAD levels to watch At the moment the pair is losing 0.19% at 1.0963 with the next support at 1.0927 (21-d MA) ahead of 1.0899 (high Aug.18) and finally 1.0883 (200-d MA). On the upside, a breakout of 1.0998 (high Aug.26) would open the door to 1.1007 (high May 2) and then 1.1026 (61.8% of 1.1279-1.0616). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 26, 2014 Author Share Posted August 26, 2014 USD/JPY tests 104.00 but rejected again FXStreet (San Francisco) - The US dollar jumped to test the 104.00 level against the Japanese Yen but the pair got a new rejection and now it is trading back to 103.85. Pair was affected by US durable goods orders that rose 22.6% in July; However the data was distorted by large orders in airplanes. Ex-transportation fell 0.8%. Currently, USD/JPY is trading at 103.92, down 0.13% on the day, having posted a daily high at 104.13 and low at 103.75. USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is strongly bullish. USD/JPY levels There are option expiries at New York's cut around 103.00 ($430 mln) and 103.25 ($200 mln). If the pair managers to break above 104.00, next resistances are at 104.10, 104.25 and 104.45. On the downside, supports are at 103.75, 103.50 and 103.40. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 26, 2014 Author Share Posted August 26, 2014 USD/CAD indifferent after US docket FXStreet (Edinburgh) - The USD remains in the negative camp following the release of the US Durable Goods Orders, with the USD/CAD hovering over 1.0965/60. USD/CAD softer-to-consolidative Spot is now extending the range-bound pattern around the 1.0960/70 band, after US headline Durable Goods Orders jump 22.6% during the month of July, crushing previous estimates; excluding the Transportation sector, orders contracting at a monthly pace of 0.8%. “We have seen a push higher towards the 1.1000 area in Asia but for now the level has held and has failed to break. There is still talk of barrier defence up there, so a clean break through there should induce further Usd buying. To the downside we would expect to see good support on any pull back towards yesterday’s lows ie around 1.0940/1.0950”, noted Stephen Gallo, European Head, FX Strategy at BMO. USD/CAD levels to watch At the moment the pair is losing 0.23% at 1.0960 with the next support at 1.0927 (21-d MA) ahead of 1.0899 (high Aug.18) and finally 1.0883 (200-d MA). On the upside, a breakout of 1.0998 (high Aug.26) would open the door to 1.1007 (high May 2) and then 1.1026 (61.8% of 1.1279-1.0616). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 26, 2014 Author Share Posted August 26, 2014 United States Consumer Confidence registered at 92.4 above expectations (89) in August Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 26, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted August 27, 2014 Author Share Posted August 27, 2014 USD/JPY points to 105.40 medium term – Danske Bank FXStreet (Edinburgh) - Lars Christensen, Chief Analyst at Danske Bank, sees the pair heading towards 105.40 in the medium term. Key Quotes “In the major FX-crosses, the DXY index is pausing after the strong rally last week”. “The EUR will continue to underperform given expectations of ECB easing and the risk that TLTRO will ‘crowd out’ foreign buying of periphery bonds”. “We see the JPY and CHF as vulnerable on likely future monetary easing”. “Technically, USD-JPY may consolidate after the failure to break through important trend-line resistance. Medium-term charts point to 105.40 and 110.10, in line with our fundamental view”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Aug 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
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