OctaFX_Farid Posted October 21, 2014 Author Share Posted October 21, 2014 EUR/JPY breaks below 136.00 FXStreet (Córdoba) - The euro continues to weaken against the yen, having fallen to a fresh weekly low, on reports that the ECB is discussing corporate bonds buying, which would expand its balance sheet and bypass banks in the transmission of policy. EUR/JPY extended its decline to below 136.00 and hit its lowest level since last Thursday at 135.68 in recent dealings. At time of writing, EUR/JPY is trading at the 135.80 area, recording a 0.78% loss Tuesday, following four consecutive days of rising. EUR/JPY levels to watch As for technical levels, EUR/JPY could find next supports 135.02/00 (Oct 14 low/psychological level) and 134.13 (2014 low Oct 16). On the flip side, resistances could be faced at 137.00 (Oct 20 high/psychological level) and 137.20 (20-day SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 21, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 22, 2014 Author Share Posted October 22, 2014 USD/CAD climbs to highs pre-BoC FXStreet (Edinburgh) - The greenback is extending its upbeat momentum vs. its northern neighbour, pushing USD/CAD to session highs beyond 1.1240. USD/CAD attention to the BoC, data Key day for the Canadian dollar, as the BoC will hold its monetary policy meeting followed by the more relevant October Monetary Policy Report (MPR). Paul Fage, Senior EM Strategist at TD Securities. Assessed, “Governor Poloz has no incentive to sound upbeat and recent developments will give him ample justification to maintain his cautious tone. The forward looking language is not likely to change substantially with the Bank holding on to their neutral bias, but the document as a whole is likely to feel dovish”. Still in Canada, Retail Sales are also due, with consensus expecting a flat reading in August and a 0.2% gain from the core print. In the US economy, the focus will be on September’s inflation figures gauged by the CPI, with headline consumer prices expected at 1.6% YoY. USD/CAD levels to consider At the moment the pair is up 0.13% at 1.1236 with the next resistance at 1.1297 (high Oct.21) ahead of 1.1360 (high Oct.16) and then 1.1385 (2014 high Oct.15). On the flip side, a breakdown of 1.1216 (low Oct.22) would open the door to 1.1202 (low Oct.21) and finally 1.1200 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 22, 2014 Author Share Posted October 22, 2014 US: CPI (Sep) rose 1.7% FXStreet (Edinburgh) - The Department of Labour informed that US headline consumer prices rose at an annual pace of 1.7% in September, surpassing estimates and matching August’s print. On a monthly basis, prices rose 0.1%. Core CPI, which strips food and energy costs, rose 1.7% over the last twelve months and 0.1% MoM. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 22, 2014 Author Share Posted October 22, 2014 Gold at day’s low after CPI data FXStreet (Mumbai) - Gold prices declined after the Consumer Price Inflation (CPI) data in the US surprised markets on the upside. Gold is trading 0.57% lower at the day’s low of USD 1243.80/Oz after the official data in the US showed CPI in September rose 0.1% month-on-month, compared to the market expectation of 0.0%. Moreover, the CPI has increased when compared to August month’s reading of -0.2%. Year-on-year the CPI increased 1.7%, above expectation of 1.6%. Moreover, markets were expecting the CPI data to highlight weakening price pressures. However, a strong data is likely to push inflation expectations higher. Thus, the data is likely to erase the bets of a delay in the interest rate hike in the US. The US ten-year treasury yields have so far not reacted to the better-than-expected CPI data. Gold Technical levels Gold can fall to 1238 levels if the prices fail to sustain above 1245 levels. On the other hand, a rebound could see Gold re-test 1250 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 22, 2014 Author Share Posted October 22, 2014 EUR/USD drops further after US CPI numbers FXStreet (Córdoba) - EUR/USD fell from 1.2700 to 1.2665, hitting a fresh 1-week low. The pair weakened after the release of US inflation numbers that boosted the USD across the board. The euro was recovering from 1.2679 (previous daily low) and before the report climbed back above 1.2700 to 1.2727. Then started to retreated and plummeted after the data. Currently trades at 1.2674/75, down 0.30% for the day. USD gains momentum after CPI According to the US Department of Labor Statistics the Consumer Price Index (CPI) rose 0.1% in September, slightly above the increase of 0.2% expected. The annual rate remained unchanged at 1.7%; analyst were expecting a decline to 1.6%. Greenback rose across the board after the report. Higher inflation numbers increase expectations about a rate hike by the FED sooner than previously expected. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 22, 2014 Author Share Posted October 22, 2014 USD/CAD jumps to 1.1270 FXStreet (Edinburgh) - The US dollar is now quickly appreciating vs. its Canadian counterpart, taking USD/CAD to session highs around 1.1270. USD/CAD weaker on data The pair is trading on an upbeat mood after Canadian retail sales disappointed investors during August, contracting 0.3% inter-month. In addition, better-than-expectec inflation figures in the US economy gave extra legs to the greenback, boosting spot from the 1.1220 neighbourhood pre-releases. Spot now remains well positioned for another leg higher, as markets expect a dovish tone from Governor Poloz in today’s statement and press conference. “We really think USDCAD is trapped within a 1.12/1.14 range for the moment—justifiably to an extent as our work suggests that the currency is largely in line with fundamental fair value—and developments today are liable to foster the impression of a volatile though largely directionless range trade in place at the moment”. USD/CAD levels to consider At the moment the pair is up 0.39% at 1.1265 with the next resistance at 1.1297 (high Oct.21) ahead of 1.1360 (high Oct.16) and then 1.1385 (2014 high Oct.15). On the flip side, a breakdown of 1.1216 (low Oct.22) would open the door to 1.1202 (low Oct.21) and finally 1.1200 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 22, 2014 Author Share Posted October 22, 2014 US Ten-year Treasury yields at day’s high FXStreet (Mumbai) - The Treasury yields across the short end and the long end of the bond market curve inched higher after the better-than-expected US CPI number hit the wires. The Ten-year treasury yield is trading at a day’s high of 2.246%, up from 2.22% hit just before the release of the CPI number. Though, the data for September month managed to beat the market expectation, it still remained well below the 2% target for the second consecutive month. Meanwhile, the two –year yield, a barometer of short-term interest rate expectations, is trading at 0.378%. Moreover, a better than expected CPI released today is likely to push up the short term inflation expectations in the US. Ten-Year yield Technical levels The yield has an immediate resistance of 2.264%, above which it can rise to 2.303%(Aug 15 low). Meanwhile, a failure to sustain above the immediate support of 2.229% can push the pair back to 2.20% level. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 22, 2014 Author Share Posted October 22, 2014 GBP/USD approaches daily lows after US data FXStreet (Córdoba) - GBP/USD fell from 1.6060 to 1.6030 after the release of inflation data in the US, that triggered a USD rally in the currency market. The pair was recovering, after bottoming affected by BoE minutes at 1.6010; the upside was capped by 1.6065 and turned back to the downside following the US CPI that showed an increase of 0.1% in September. GBP down vs US, but up versus EUR and CHF Despite falling against the US dollar after inflation numbers, the pound beneficiated against other currencies. EUR/GBP fell back below 0.7900 and GBP/CHF rebounded sharply. While GBP/USD still remains above daily lows, EUR/USD is trading at fresh 1-week lows, USD/JPY soared to 107.30 from 107.00. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 22, 2014 Author Share Posted October 22, 2014 US Equity futures point to flat opening on Wall Street FXStreet (Mumbai) - The US Equity markets are likely to open on a flat note today, despite a strong performance of the Asian and the European equity markets. The S&P December futures are trading 0.02% higher at 1938.45, while the DJIA December futures are trading 0.08% higher at 16,560. Meanwhile, the Russell 2000 Dec futures have gained 0.04% to trade at 1110.70. Elsewhere, the Dax is trading 0.37% higher at 8920 levels, while the Ftse is trading 0.27% higher at 6389. The action in the US Equity futures points to a flat opening with a weak underlying tone. Moreover, the futures erased gains after a better-than-expected US CPI data hit the wires. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 22, 2014 Author Share Posted October 22, 2014 AUD/USD consolidates below 0.8800Street FXStreet (Córdoba) - AUD/USD has entered a consolidation phase Wednesday, unable to break free from its recent range, with inflation data from both Australia and US offering only short-lived propulsion. AUD/USD bottomed out at 0.8742 during the Asian session as the immediate knee-jerk reaction to in line with expectations Australian CPI. However, the Aussie quickly recovered from lows, but the upside was capped by the 0.8800 area, confining the pair to a slim range. At time of writing, AUD/USD is trading at 0.8780, virtually unchanged on the day. AUD/USD technical levels In terms of technical levels, AUD/USD could find immediate supports at 0.8742 (intraday low), 0.8700 (psychological level) and 0.8685 (Oct 16 low). On the other hand, resistances are seen at 0.8800/02 (psychological level/intraday high), 0.8832 (Oct 20 high), 0.8860 (Oct 15 high) and 0.8898/0.8900 (Oct 9 high/psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 22, 2014 Author Share Posted October 22, 2014 Mexico Retail Sales (MoM) up to 0.6% in August from previous 0.4% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 22, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 23, 2014 Author Share Posted October 23, 2014 EUR/CHF (a)pathetic around 1.2060 FXStreet (Edinburgh) - EUR/CHF is slowly inching higher on Thursday, although the 1.2070 level seems too tough a barrier so far. EUR/CHF bounced off 1.2055 The trade remains heavy around the cross, now managing to recover ground from session lows in the mid-1.2000s, although currently USD buying is hampering the bullish intent. Next of note in the Swiss economy will be the KoF Leading Indicator (Monday) and the UBS Consumption Indicator (Tuesday). “Intraday rallies are now indicated to halt circa 1.2080/87, the 55 day ma. This guards the 1.2133 July low and the 200 day ma at 1.2164”, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank. EUR/CHF key levels At the moment the pair is up 0.02% at 1.2064 with the next resistance at 1.2074 (Tenkan Sen) ahead of 1.2088 (38.2% of 1.2140-1.2057) and then 1.2096 (high Oct.14). On the flip side a break below 1.2053 (low Sep.30) would expose 1.2030 (low Nov.28 2012) and finally 1.2007 (low Jul.23 2012). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 23, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 23, 2014 Author Share Posted October 23, 2014 US: CB Leading Indicator rises 0.8% in September FXStreet (Łódź) - The US CB Leading Indicator grew 0.8% in September, following a 0.2% rise in August, according to data released by the Conference Board. Market consensus pointed to less increase of 0.6%. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 23, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 23, 2014 Author Share Posted October 23, 2014 GBP/JPY breaks above 173.00, 2-week high FXStreet (Córdoba) - The decline of the yen across the board pushed GBP/JPY to the upside. The pair broke above key short term resistance levels and jumped to 173.14, reaching the strongest level since October 10. Cable remains near the highs, rising more than a hundred pips and headed toward the strongest daily close in two weeks, extending the recovery after falling last week to 168.00. JPY driving GBP/JPY to the upside The bullish rally of the pair is being boosted by the decline of the yen in the market. While GBP/USD continues to trade around daily lows, near 1.6000; USD/JPY recently broke above 108.00, to trade at fresh weekly highs, with a gain of more than a hundred pips. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 23, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 23, 2014 Author Share Posted October 23, 2014 Natural Gas extends slide ahead of inventory data FXStreet (Mumbai) - Natural gas fell to a fresh 2014 low today as traders expect news on a big addition to winter stockpiles. Natual gas for November delivery is trading 1.24% lower at USD 3.614/mmbtu. Moreover, the commodity fell in six of the last seven sessions, falling more than 6%. Moreover, a record high production has kept prices under pressure by putting the demand side under more focus. However, Weather forecasts are still showing above-normal temperatures through the end of the month. This means the heating demand for the fuel is likely to stay low. Meanwhile, the long term weather forecasts are indicating that cold winter weather will not arrive before January. However, the Natural gas prices may recover today if the weekly supply report shows an increase of less than 97 billion cubic feet for the week ending Oct. 17. Natural Gas Technical levels Natural Gas has an immediate support of 3.54, below which prices can fall to 3.37 levels. On the other hand, prices may rise to 3.8 levels if the day’s high of 3.74 is breached. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 23, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 23, 2014 Author Share Posted October 23, 2014 AUD/USD making lower highs below key 0.88 handle FXStreet (Barcelona) - AUD/USD is trading at 0.8773, down -0.05% on the day, having posted a daily high at 0.8809 and low at 0.8749. Shunned from the 0.88 handle on bullish attempts, the pair is back on it's knees having been crucified all the way to the mid point of the 0.87 handle by the bears. On these attempts higher, the pair is making lower highs each time as the greenback just keeps coming in strong. However, 0.8650 remains the key support zone and until this eight-month low is breached, we are still caught in a neutral to bearish range. Overnight, there was support for the Aussie from the HSBC Chinese PMI Manufacturing and that was coupled with previous upbeat results for the Chinese economy earlier in the week in the form of Industrial Production and GDP. For the Aussie, this is sure to offer some background support and while the RBA will likely remain with current stance on policy into November, should China continue on proving resilient into next year, this could transpire into bullish rhetoric from the RBA in respect of the wages outlook in the Australian economy and be further supportive to the Australian dollar in the medium term. However, for now focus and attention will be with the FOMC next week which will be the main driver for the pair in the absence of events from Australia. AUD/USD noteworthy levels Spot is presently trading at 0.8774, and next resistance can be seen at 0.8776 (Hourly 20 EMA), 0.8780 (Daily Open), 0.8780 (Daily Classic PP), 0.8782 (Hourly 100 SMA) and 0.8783 (Weekly High). Support below can be found at 0.8767 (Hourly 200 SMA), 0.8752 (Weekly Classic PP), 0.8749 (Daily Low), 0.8746 (Yesterday's Low) and 0.8744 (Weekly Low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 23, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 25, 2014 Author Share Posted October 25, 2014 US Session recap: USD consolidation ahead of FOMC FXStreet (Guatemala) - The FX market was in a phase of consolidation after taking some profits out of the USD. Stocks in the US were the main event today, which helped the dollar to some extent, but focus was much more about next week. There was finally no chatter around Ebola but more on the condition in Europe. Draft copies of the stress test were leaked and it seems that there are 25 banks that have been or will be confirmed to be required to raise money with 10 out of the 190 that are on the watch list. GBP/USD was consolidating after an up day in Europe despite the inflation results that actually tailed off and is now sitting at just 1.2% headline CPI. The core printed at 1.5% and hopes for an early rate rise are diminished. 1.61 was the highs and ranges below were down to 1.6017. USD/CAD bulls defied the bears and the 1.12 handle remained in formation for the session after a little test below the figure. The pair was meeting supply through 1.1240 and was capped within a range here. USD/JPY finished up in the middle of its range on the 108 handle at 108.10. The yen has been a volatile currency this week but today was put back into its place with only managing a high vs the dollar in the early US session sub the 108 handle at 107.78 the low. AUD/USD was not very favourable to the shorts out there on the handover from Europe on demand for commodities but that was short lived when the greenback took control again and became bid taking the pair back on the 0.88 handle in a relatively non eventful session for the pair. Key Events: Stress test leaks reveal 25 banks failed USD new home sales for Sep 0.467m vs 0.470m exp m/m Standard & Poor’s 500 Index made scores of its best week since 2013 OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 25, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 27, 2014 Author Share Posted October 27, 2014 GBP/USD climbs beyond 1.6100 FXStreet (Edinburgh) - Better sentiment now surrounding the sterling is pushing GBP/USD back above the 1.6100 mark on Monday. GBP/USD extends the rebound from 1.6000 The pair is now advancing for the second consecutive session and is looking to extend the recent bounce off recent lows around the psychological handle at 1.6000. Data wise in the UK, the week lacks of appeal, however Consumer Credit, M4 Money Supply and home prices tracked by Nationwide will keep investors entertained. “Net leveraged GBP longs on the CFTC front were reduced significantly for the third consecutive week, mirroring the waning of overly hawkish BOE expectations. In the short term, the pair may attempt to continue base building within 1.6000-1.6200 multi-session”, noted Emmanuel Ng, FX Strategist at OCBC Bank. GBP/USD levels to watch As of writing the pair is up 0.17% at 1.6116 facing the next up barrier at 1.6130 (high Oct.22) ahead of 1.6146 (Kijun line) and then 1.6164 (30-d MA). On the flip side, a break below 1.6031 (Tenkan Line) would open the door to 1.6018 (low Oct.24) and finally 1.5995 (low Oct.23). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 27, 2014 Author Share Posted October 27, 2014 Corn trades weak after three consecutive weekly gains FXStreet (Mumbai) - Corn prices declined today after the prices ended higher on Friday, scoring gains for the third consecutive week. Corn for December delivery is trading 1.02% lower at USD 3.4863/bushel. Prices rallied for the last three weeks, mainly on hopes that the wet weather would delay the harvest of crops. Prices hit a high of USD 3.6475 on Friday before closing at USD 3.5238. Moreover, the latest weather forecast models show warm temperatures and a less probability of rains. A lack of notable rains across the central and western Midwest and Delta until Nov. 2 will favor corn and soybean harvesting, MDA Weather Services said in a report dated Oct. 24. Moreover, with a warmer weather forecast for this week, the harvests are likely to resume leading to a weakness in the Corn prices. Corn Technical levels Corn has an immediate support of 3.48 (Aug 12th low), below which prices can fall to 3.4213 (Oct 20th low). On the flip side, prices may rise to 3.6 levels if the day’s high of 3.5238 is breached. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 27, 2014 Author Share Posted October 27, 2014 Gold trades flat FXStreet (Mumbai) - Gold prices are trading flat in the European session despite the fresh signs of weakness in the European equities. Gold is trading 0.10% lower at USD 1230.60/Oz, up from the day’s low of USD 1227.50/Oz hit earlier today. The metal has been unable to gain strength so far, despite the fall in the European equity markets after a positive start. The Dax is trading 0.59% lower while the Ftse has lost 0.43% today. Both markets are down more than 1% from the day’s high. The yellow metal has failed to respond even to the disappointing German IFO survey data released during the European session today. Moreover, the prices are under pressure amid expectations that the Federal Reserve (Fed) will end its monthly bond buying program this week. However, sustained losses in the equity markets coupled with the weakness in the US Dollar index may push gold prices higher. Gold Technical levels Gold has an immediate resistance at 1235, above which prices can test 1238 and 1240 levels. On the other hand, failure to sustain gains above the immediate support of 1227 can send the prices down to 1223 levels today. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 27, 2014 Author Share Posted October 27, 2014 USD/CHF erases intraday losses FXStreet (Córdoba) - USD/CHF managed to reverse intraday losses during the European session and regained the 0.95 mark, moving inversely with EUR/USD. USD/CHF bottomed out at 0.9488 but has been steadily recovery ground over the last hours to trade nearly flat at the 0.9515 zone. On the data front, traders might get some direction from US Markit services PMI and pending home sales. USD/CHF levels to watch In terms of technical levels, USD/CHF could find next resistances at 0.9545 (Oct 24 high), 0.9561 (Oct 15 high) and 0.9591 (Oct 10 high). On the flip side, supports are seen at 0.9485 (10-day SMA), 0.9471 (Oct 22 low) and 0.9400/0.9398 (psychological level/Oct 21 low). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 27, 2014 Author Share Posted October 27, 2014 EUR/USD ready for 1.2700? FXStreet (Edinburgh) - The single currency is gathering pace on Monday, lifting EUR/USD to another test of the 1.2685/90 band. EUR/USD focus on US docket Traders seem to have shrugged off the disappointment after the IFO figures for the month of October, pushing spot back to the upper-1.2600s after dropping to sub-1.2670 levels. Ahead in the session, Pending Home Sales (0.5% MoM exp.) and Services PMI (58.0 exp.) gauged by Markit will be in the limelight across the Atlantic. Senior Analyst Jens Pedersen at Danske Bank, argued, “We expect the recent high at 1.2885 to be protected and clients should use a bounce in EUR/USD ahead of that level as an opportunity to establish fresh shorts. In the medium to long term, the stress-test results support our call for a recovery in the euro zone in 2015 and hence for a rebound in EUR/USD”. EUR/USD relevant levels The pair is now up 0.16% at 1.2691 with the next resistance at 1.2723 (10-d MA) followed by 1.2730 (200-h MA) and finally 1.2740 (high Oct.22). On the downside, a break below 1.2635 (low Oct.24) would expose 1.2614 (low Oct.23) and then 1.2605 (low Oct.10) OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 27, 2014 Author Share Posted October 27, 2014 Speculators reduce bearish bets on Oil, WTI falls below USD 80.00 FXStreet (Mumbai) - The Commodity Futures Trading Commission (CFTC) data for the week ended Oct 21 showed that speculators reduced the bearish bets on Crude Oil. As per the CTFC data, net-long positions in West Texas Intermediate futures rose 5.7% during the week ended Oct 21. This is the same time period when the prices stabilized around USD 80-81/barrel. Short bets fell 20 %, the most in three months, while longs fell 2.8 %. Overall, Crude Oil did rise during the reporting period, although the prices are back near multi-month lows on concerns of excess global supply. Moreover, the fall in the bearish bets on Crude is a reflection of bargain hunting demand at lower levels. WTI Crude for December delivery is trading 1.35% lower at USD 79.92/barrel, inching towards the low of USD 79.10 hit earlier this month. WTI Crude Technical levels WTI Crude has an immediate support of 79.10 (Oct 16th high), below which prices can fall further to 77.28 levels. Meanwhile, the commodity can rise to 81.25 levels, if the hourly chart resistance at 80.50 is taken out. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 27, 2014 Author Share Posted October 27, 2014 Wall Street may open on a weak note FXStreet (Mumbai) - The activity in the US Equity futures is indicating that the equity markets in the US are likely to open on a weak note today. The DJIA December futures are trading 0.40% lower at 16,668.50, while the S&P 500 December futures are down 0.50% at 1949.95. The Midcap Russell 2000 December futures have lost 0.65% to trade at 1108.20. The weakness in the US Equity futures is in line with the European equity indices, which weakened after a positive start. The Dax and the Cac are now trading lower by 1.44% each. Meanwhile, the Ftse is down 1.03%. Moreover, the earnings shall remain under focus ahead of the Federal Reserve (Fed) rate decision due later in the week. Thirteen companies listed on the S&P 500 Index including Allergan Inc. and Seagate Technology report quarterly results today. Elsewhere, in Frankfurt, the European central Bank (ECB) will remain the exact amount spent on covered bonds last week. The ECB has bought assets from Germany to Portugal since the beginning of program on Oct 20. A disappointing figure may result in a further slump in the European and the US equity markets. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 27, 2014 Author Share Posted October 27, 2014 A well offered USD/JPY sets support at 107.70, then sideways FXStreet (San Francisco) - After falling 65 pips from intra-day high of 108.35, USD/JPY broke below the 108.00 area before finding support at 107.70. The pair is trading under pressure amid news that the BoJ may look to moderate inflation outlook. According to Ryan Littlestone from ForexLive, the BoJ may moderate inflation after fall in oil as the bank is "changing view of CPI to accelerate in H2 FY 2015." At 107.70, the pair bounced back to 107.95 but the movement wasn't strong enough and it is now trading sideways around 108.85. Currently, USD/JPY is trading at 107.85, down 0.28% on the day, having posted a daily high at 108.37 and low at 107.72. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish. USD/JPY sentiment "Technically," Valeria Bednarik from FXstreet comments, "the 1 hour chart shows indicators heading south below their midlines, while 100 SMA maintains a strong bullish slope in the 107.50/60 area, acting as immediate support." If the USD/JPY recovers its mojo, it will find resistances at 107.95, 108.10 and 108.35. On the downside, supports are at 107.80, 107.70 and 107.60. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Oct 27, 2014 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
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