OctaFX_Farid Posted January 2, 2015 Author Share Posted January 2, 2015 Euro rapidly approaching June 2010 low of $1.1877 – BBH FXStreet (Barcelona) - The Growth Aces Research Team notes that Draghi strengthened QE bets by commenting that the ECB was in preparations to adjust the QE measures to keep the inflation near its target, leading the EUR to make a fresh low at 1.2035. Key Quotes “European Central Bank President Mario Draghi said the risk of the central bank not fulfilling its mandate of preserving price stability was higher now than half a year ago, and reiterated its readiness to act early this year should it become necessary.” “Euro zone inflation stands at 0.3%, far below the ECB's target of just under 2%. Draghi said: “We are in technical preparations to adjust the size, speed and compositions of our measures early 2015, should it become necessary to react to a too long period of low inflation. There is unanimity within the Governing Council on this.” He added that government bond purchases were among the tools the ECB could use to fulfill its mandate.” “The EUR/USD fell to 1.2035 after Draghi strengthened expectations for quantitative easing in the Euro zone. That was the lowest level since June 2010.” “We were looking for a correction in the EUR/USD. However, breaking below the level of 1.2100 fueled bearish sentiment.” “Our strategy now is to sell EUR/USD at 1.2180. If our order is filled the target will be 1.1950 (just below daily low on June 6, 2010).” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 02,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 2, 2015 Author Share Posted January 2, 2015 Fed hike could spell trouble for US stocks – Comstoc FXStreet (Barcelona) - The Comstock Partners Team note that a Fed rate hike in 2015 could spell trouble for the already overvalued US stocks, as it was previously seen after the ending of QE1 and QE2. Key quotes “In December, the U.S. stock market staged a furious comeback rally following a rapid and substantial decline. Just prior to the latest upturn, the market seemed ready and poised for further and even more substantial declines.” “The rally appears to have been precipitated by the Fed substituting the word “patience” for “considerable time” in their latest policy statement. While we were disappointed that the markets rallied based on the simple parsing of words, we remain convinced that deflation, overvaluation, and Fed policy in response have intertwined to cause one of the largest stock market bubbles in history.” “Importantly, the velocity (turnover of money) of the M2 money supply has remained near the lows of the past 60 years. That statistic serves as proof that the Fed’s efforts are getting very little “bang for the buck”. “As you all know energy prices have been collapsing, as supply is overwhelming demand--many think that energy prices are holding back the U.S. bull market by hurting other countries abroad. Soon they will realize that the commodity price decline is caused by the global distress--not the other way around.” “The Fed is about to raise interest rates sometime in 2015 (for the first time in 6 years), and that could be trouble for stocks just as it was after the ending QE-1, and QE 2. On the other hand, if they don’t raise rates it would only be based on failed QE policies that were supposed to revive the economy. This is the incredible dilemma that the Fed faces in the coming year.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 02,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 2, 2015 Author Share Posted January 2, 2015 ---------------------------- FX outlook for 2015 – Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, shares the FX outlook for 2015, anticipating broad USD strength to create a pattern similar to 2014 among the majors. Key Quotes “In 2014, NOK and SEK were the worst performing primary currencies, losing 18% each; followed by JPY and EUR, who lost 12% and then the commodity currencies of AUD and CAD who lost just over 8% each, leaving GBP as the outperformer, having lost just 6% against the USD but gaining ground against all the other majors.” “Looking out to 2015, we expect broad USD strength, with a similar pattern among the majors, where EUR and JPY lose the most ground, and GBP weakens against the USD but outperforms both EUR and JPY. AUD and CAD are likely to continue to weaken.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 02,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 2, 2015 Author Share Posted January 2, 2015 ---------------------------- Data ahead: US December ISM Manufacturing PMI expected to decline – TDS FXStreet (Barcelona) - Shaun Osborne and Martin Schwerdtfeger, FX Strategists at TD Securities, preview the data ahead for US and Canada, and anticipate the US December Manufacturing PMI to decline modestly to 56.3 from previous 58.7. Key Quotes “The first US indicator of 2015 will be the final Dec print for Markit’s US Manuf PMI, which is seen rising modestly to 54.0 from a preliminary reading of 53.7.” “Nov Construction Spending will be released at 10.00ET, and the market calls for a 0.4% monthly gain (1.1% prior).” “The Dec ISM Manuf PMI — also out at 10.00ET — is expected to decline modestly to 56.3 (mkt 57.5) from a particularly strong 58.7 in the prior month, showing some deterioration in momentum but continuing to signal a strong growth handoff into 2015; Prices Paid are expected to fall further to 43.5 (44.5 prior).” “In Canada, the RBC Manuf PMI for Dec will be released at 9.30ET; there is no market call, Nov came in at 55.3 and the index has been steadily rising since Jan last year.“ OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 02,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 2, 2015 Author Share Posted January 2, 2015 ---------------------------- EUR falls to 4.5yr low, breaking below 1.2043 (2012 low) – Scotiabank FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank shares that EUR fell to a 4.5yr low, breaking below 1.2043 (2012 low), on soft PMIs & Draghi’s comments that price stability risks have increased, and anticipates the pair to head towards 1.1800 levels towards 2015-end. Key Quotes “EUR is weak, having lost a further 0.5% since the close of 2014; breaking below the July 2012 low of 1.2043; opening up the next level of resistance at 1.1877, the 2010 low. The combination of soft PMI data and dovish comments by ECB President Draghi have weighted heavily on the currency.” “The final December Eurozone manufacturing PMI came in at 50.6, still in expansion and above the November dip to 50.1, but disappointing the expectation for 50.8. In addition, ECB President Draghi commented in Germany’s Handelsblatt that “the risk that we don’t fulfill our mandate of price stability is higher than it was six months ago”, highlighting once again that the ECB is in technical preparations to alter the size, speed and composition of its current asset buying program.” “The next ECB meeting is January 22nd and there is already building anticipation as to the action the central bank is likely to take.” “We expect EUR to trend lower throughout 2015 and hold a year‐end target of 1.1800.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 02,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 2, 2015 Author Share Posted January 2, 2015 Can US raise rates in 2015 amidst global concerns? – RBS FXStreet (Barcelona) - The Research Team at RBS notes that today’s ISM release will help determine the answer to whether US will raise rates amidst global concerns. Key Quotes “For the US, the critical question of "can the US go it alone amidst these global concerns, and raise rates in 2015, even modestly?" remains. Today's ISM release will help determine if the base case answer in the markets continues to be "yes," and if the ongoing equity market rise continues to send the message that even if the Fed does so, riskier assets should be just fine.” “Some of this I believe is the current impression that even as rates rise, it will happen in a "not too hot not too cold" fashion – rate rises won't be too hot or fast given the global outlook and local inflation backdrop, while the cold coming from overseas is to be met with asset boosting stimulus abroad, helping all global assets.” “This may end up being the case, but I have doubts that even if it is, we will get there without any volatility, minor market "accidents," or periods of concern that one side of the other will indeed be "too hot" or "too cold.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 02,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 2, 2015 Author Share Posted January 2, 2015 Euro areas December preliminary HICP to show negative inflation – ANZ FXStreet (Barcelona) - Brian Martin of ANZ, anticipates the December preliminary HICP release for the euro area to show a negative headline inflation at -0.1% y/y, further noting that the ECB will do everything possible to ensure this doesn’t translate into deflation. Key Quotes “The December preliminary HICP release for the euro area is expected to show that headline inflation fell to -0.1% y/y, its weakest growth since October 2009. The anticipated drop is chiefly a result of the collapse in oil prices. The last time euro area inflation was negative was in 2009, when it spent five months below zero.” “Weakness in the domestic economy is also adding to the absence of price pressures. The December manufacturing PMI came in at 50.6, slightly below expectations as both the French (47.5) and Italian (48.4) PMIs disappointed.” “The ECB needs to try and anchor inflation expectations. Whilst the ECB’s survey of professional forecasters shows inflation expectations five year’s forward are 1.8%, the ECB’s fear is that persistently low inflation could weigh on this. Financial market implied inflation expectations fell sharply last year. In line with its mandate, the ECB will do everything possible to ensure negative inflation does not translate overtime into deflation.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 02,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 2, 2015 Author Share Posted January 2, 2015 EUR/JPY drops to 7-week lows FXStreet (Córdoba) - EUR/JPY broke below 144.70 after the release of a weak ISM report in the US that boosted the yen across the board. The pair dropped from 145.00 to 144.33 in a few minutes, hitting the lowest price since mid November. EUR/JPY levels The decline found support above the 144.30 area and it was trading at 144.50, down 0.32% for the day. Below support levels might lie at 144.00, 143.65 (Nov 5 high) and 142.95. To the upside, resistance could be located at 144.70 (Dec 30, 31 low), 145.30 and 145.55 (Dec 31 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 02,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 2, 2015 Author Share Posted January 2, 2015 EUR/JPY drops to 7-week lows FXStreet (Córdoba) - EUR/JPY broke below 144.70 after the release of a weak ISM report in the US that boosted the yen across the board. The pair dropped from 145.00 to 144.33 in a few minutes, hitting the lowest price since mid November. EUR/JPY levels The decline found support above the 144.30 area and it was trading at 144.50, down 0.32% for the day. Below support levels might lie at 144.00, 143.65 (Nov 5 high) and 142.95. To the upside, resistance could be located at 144.70 (Dec 30, 31 low), 145.30 and 145.55 (Dec 31 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 02,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 2, 2015 Author Share Posted January 2, 2015 EUR/USD: Not much in the way until 1.1900 – FXStreet FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares that with the technical indicators heading south and the daily charts presenting a strong bearish momentum, there is not much in the way for EUR/USD pair until 1.1900 levels if it breaks below 1.2000. Key Quotes “The EUR/USD pair debut in this 2015 sees it dangerously close to the 1.2000 level for the first time since June 2010” “Data was far from encouraging both shores of the Atlantic, but the dollar rules anyway: as a new month starts, market attention shifts to Central Banks possible movements, with the ECB expected to introduce some further stimulus as deflation and lack of growth become more evident month after month.” “The US by opposition, will release next week its employment figures, and there are no signs the strong growth seen on previous months will suffer a setback.” “Technically, the weekly chart of the EUR/USD pair shows that price continues to slide below its moving averages, whilst indicators head south below their midlines, with RSI around 25 after a failure attempt of correcting higher, and with no bottom yet confirmed in the indicator.” “In the daily chart indicators present a strong bearish momentum also supportive of a continued decline.” “The immediate supports stands at the 1.2000 psychological figure, and if broken, there is little in the way down to the 1.1900 level. There’s a possibility this last gives up next week, and it that case the next big long term support stands in the 1.1650 area.” “Last December week low around 1.2160 is the immediate resistance level, followed by 1.2250 price zone. Upward movements up to this last are possible but not likely, and market players will see those advances more as selling opportunities than as signs of a bottom.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 02,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 6, 2015 Author Share Posted January 6, 2015 AUD/JPY fails to hold above 97.00 FXStreet (Córdoba) - AUD/JPY erased gains and is moving toward yesterday’s low that lie at 96.37; if it fall under it would be trading at the lowest since December 18. During the Asian session the pair climbed to 97.20 but failed to hold and pulled back. On European hours rebounded and the 97.00 offered resistance. Currently trades at 96.48, down 0.30% for the day weakened by the rise of the yen across the board. The Japanese currency is among the strongest for the second day in a row supported by risk aversion and falling US government bond yields. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 07,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 6, 2015 Author Share Posted January 6, 2015 MPC losing the footrace versus the Fed – BAML FXStreet (Barcelona) - The Research Team at Bank of America-Merrill Lynch explains that with BoE continues to lose the race to policy tightening versus the Fed with markets pushing probability of a MPC rate hike into early 2016, and thus anticipate Pound to face lose against the USD in the near-term. Key Quotes “It has been an inauspicious start to the year for GBP which has underperformed all of its G10 peers with the exception of the NOK. Sentiment has not been helped by further evidence of a loss of momentum in the UK economy, with both the manufacturing and construction PMI numbers printing on the weaker side of expectations.” “Though the USD has made a strong start to 2015, GBP/USD has been particularly hit hard, driven primarily by a further shift in rate differentials in favor of the USD.” “With the markets pushing back the chances of UK rate hikes into 1Q16, the Bank of England continues to lose the footrace to policy tightening versus the Fed. GBP/USD is thus likely to remain under pressure in the near-term as these forces continue to dominate sentiment.” “EUR/GBP has once again failed to make a sustained break of the 0.7750 level despite significant pressure on the EUR at the start of the year.” “The conflicting forces of prospective QE weighing on EUR and softening near-term UK inflationary pressures weighing on GBP suggest that EUR/GBP will trade a range for the time being. But, in our view, with the UK general election on the horizon and continued uncertainty on the outcome, there appears to be no respite for the GBP at present.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 07,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 6, 2015 Author Share Posted January 6, 2015 Dec US employment index drops, but keeps Fed hike expectations unchanged – ING FXStreet (Barcelona) - Rob Carnell of ING, notes that the US non-manufacturing ISM came out weaker than expectations and the employment index registered a marginal dip, keeping the Fed hike expectations on course for a Q2 15 rate hike. Key Quotes “The US non-manufacturing ISM index for December (56.2) was somewhat weaker than consensus expectations (58.0, INGf 58.4), and was a little surprising as this contemporaneous indicator of retail strength should be receiving good support from both lower oil prices and a buoyant labour market. Recent car sales strength is a reflection of this.” “But in any case, it is the employment index of this survey that we usually look at, and this dipped fairly marginally to 56.0 from 56.7 back in November, and is in our view still consistent with a decent, albeit somewhat less robust payrolls figure in January from the 321K figure initially printed for December.” “Consensus is currently looking for a 240K payrolls figure with a slight dip in the unemployment rate to 5.7%, and hopefully a further uptick in the wages growth rate to 2.2%. All of which, if it happens, should keep the Fed on course for a 2Q15 (June rather than April we think) first rate hike.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 07,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 6, 2015 Author Share Posted January 6, 2015 Dec US employment index drops, but keeps Fed hike expectations unchanged – ING FXStreet (Barcelona) - Rob Carnell of ING, notes that the US non-manufacturing ISM came out weaker than expectations and the employment index registered a marginal dip, keeping the Fed hike expectations on course for a Q2 15 rate hike. Key Quotes “The US non-manufacturing ISM index for December (56.2) was somewhat weaker than consensus expectations (58.0, INGf 58.4), and was a little surprising as this contemporaneous indicator of retail strength should be receiving good support from both lower oil prices and a buoyant labour market. Recent car sales strength is a reflection of this.” “But in any case, it is the employment index of this survey that we usually look at, and this dipped fairly marginally to 56.0 from 56.7 back in November, and is in our view still consistent with a decent, albeit somewhat less robust payrolls figure in January from the 321K figure initially printed for December.” “Consensus is currently looking for a 240K payrolls figure with a slight dip in the unemployment rate to 5.7%, and hopefully a further uptick in the wages growth rate to 2.2%. All of which, if it happens, should keep the Fed on course for a 2Q15 (June rather than April we think) first rate hike.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 07,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 6, 2015 Author Share Posted January 6, 2015 Disappointing services PMI spoils GBP sentiment further – KBC FXStreet (Barcelona) - The KBC Bank Research Team shares that Cable is testing the correction low in the 1.5170 region after UK services PMI fell from 58.6 to 55.8. Key Quotes “Yesterday, sterling was fighting an uphill battle as the political debate on Brexit heated up during the weekend. Today, sterling remained in the defensive, but the pressure was lower than yesterday.” “(Currency) investors kept a close eye on the UK services PMI as domestic demand and services were an important factor behind the UK recovery. At the end of last week, the manufacturing PMI and the index from the construction sector showed a loss of momentum at the end 2014. The services PMI confirmed this picture. The index declined from 58.6 to 55.8 (58.5 was expected). Cable dropped to the 1.5175 area after the publication of the report and struggled to rebound further out in the session.” “The pair is testing the correction low in the 1.5170 area at the momentum of writing.” “EUR/GBP ‘spiked’ to the 0.7850 area after the PMI and settled in a sideways range roughly between 0.7825/50. Sterling still isn’t in good shape, but the damage could have been even worse.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 07,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 7, 2015 Author Share Posted January 7, 2015 USD/JPY follows Treasury yields ahead of Fed minutes FXStreet (Mumbai) - The USD/JPY pair is slowly rising towards the 5-DMA located at 119.68 levels, tracking the hardening of the 10-year Treasury yields in the US as markets brace up for the December Federal Reserve minutes. The pair extended gains post the release of an upbeat December month ADP report to clock a high of 119.55 levels. Moreover, the Treasury yield curve has steepened, indicating relatively resilient yields at the long-end – 10yr and 30yr – of the treasury market curve. The USD/JPY is known to have a direct correlation to the yields at the long-end. Thus, the pair is slowly inching higher tracking the 10-yr treasury yield, which currently trades 3.2 basis points at 1.995%. USD/JPY Technical Levels The pair has an immediate resistance located at 119.65 (5-DMA) and 119.83 (10-DMA). Meanwhile, support is seen at 119.24, under which the pair could re-test 118.79 (50-DMA) levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 07,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 7, 2015 Author Share Posted January 7, 2015 NZD/USD drops to 0.7720 FXStreet (Córdoba) - NZD/USD dropped below 0.7730 after the release of the ADP report in the US and bottomed at 0.7721, hitting a fresh daily low. The pair is moving off session lows, currently trading at 0.7737, down 0.47% for the day so far. The kiwi erased most of yesterday's gains when it rose supported by higher diary prices. Today the US dollar gained momentum across the board after ADP reported that the US private sector created 241.000 jobs in December; above expectations. Commodity currencies are falling modestly versus greenback buy climbing against its European counterparts, as crude oil prices recover ground. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 07,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 7, 2015 Author Share Posted January 7, 2015 Gold under pressure ahead of Fed minutes FXStreet (Mumbai) - Gold prices decline ahead of the December Federal Reserve (Fed) minutes release, tracking the strength in the Treasury yields in the US. The yellow metal trades 0.61% lower at USD 1212/Oz levels, compared to the previous session’s close at USD 1219.40/Oz levels. The metal is taking cues from the strength in the US treasury yields. The 10-year yield is up 2.4 basis points at 1.987%, while the 30-yr yield is up 3.1 basis points at 2.554%. Interestingly, the 2-yr yield, a barometer of short-term interest rate expectations, is trading largely unchanged at 0.633% amid widespread belief the minutes would hint at policy tightening in 2015. Gold may extend decline if the 2-year yield starts rising as we move closer to Fed minutes release. Gold Technical Levels Gold has an immediate support located at 1209.76 (50-DMA), under which prices may fall to 1205.50 levels. Meanwhile, resistance is seen at 1214.18 (10-DMA) and 1218.4 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 07,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 7, 2015 Author Share Posted January 7, 2015 FOMC minutes outlook: Dependent on data — CA FXStreet (Guatemala) - Analysts at Credit Agricole take a view on the FOMC minutes. Key Quotes: "In the December FOMC meeting minutes, the discussion behind the forward guidance changes will provide a better gauge of the balance of views on the dove-hawk scale with regard to economic conditions and the rate lift-off. We will look for additional clues on the dove-hawk balance in the December FOMC minutes”. “While the December FOMC statement offered a hawkish tone in introducing “patience” in policy normalization the Fed dampened such sentiment by stressing that its guidance remains consistent with the previous statements’ “considerable time” characterisation". "We find that the altered guidance does not signal a change in the policy outlook, which remains dependent on the data. Yet, somewhat unsurprisingly, it prompted two hawks to dissent”. "Further insight on the Fed’s views on the labour market improvement and disinflationary pressures will be useful in understanding the introduction of “patience”. Downward movement in the median fed funds rate projections added a dovish angle and implies a slower pace in rate hikes, so any more information on postlift-off normalisation will be helpful as well. Discussion about the impact of declining energy prices on domestic inflation and financial stability will be of particular interest, given recent oil price movements and financial market volatility”. "As Chair Yellen noted in her press conference that the normalisation process is unlikely to begin for “at least the next couple of meetings,” any additional comments on the timing may be offered in the minutes. Finally, the minutes likely offered more discussion on segregated accounts, other interest rate tools and the Fed’s balance sheet normalization process". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 07,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 7, 2015 Author Share Posted January 7, 2015 FOMC minutes outlook: Dependent on data — CA FXStreet (Guatemala) - Analysts at Credit Agricole take a view on the FOMC minutes. Key Quotes: "In the December FOMC meeting minutes, the discussion behind the forward guidance changes will provide a better gauge of the balance of views on the dove-hawk scale with regard to economic conditions and the rate lift-off. We will look for additional clues on the dove-hawk balance in the December FOMC minutes”. “While the December FOMC statement offered a hawkish tone in introducing “patience” in policy normalization the Fed dampened such sentiment by stressing that its guidance remains consistent with the previous statements’ “considerable time” characterisation". "We find that the altered guidance does not signal a change in the policy outlook, which remains dependent on the data. Yet, somewhat unsurprisingly, it prompted two hawks to dissent”. "Further insight on the Fed’s views on the labour market improvement and disinflationary pressures will be useful in understanding the introduction of “patience”. Downward movement in the median fed funds rate projections added a dovish angle and implies a slower pace in rate hikes, so any more information on postlift-off normalisation will be helpful as well. Discussion about the impact of declining energy prices on domestic inflation and financial stability will be of particular interest, given recent oil price movements and financial market volatility”. "As Chair Yellen noted in her press conference that the normalisation process is unlikely to begin for “at least the next couple of meetings,” any additional comments on the timing may be offered in the minutes. Finally, the minutes likely offered more discussion on segregated accounts, other interest rate tools and the Fed’s balance sheet normalization process". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 07,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 7, 2015 Author Share Posted January 7, 2015 USD/JPY bulls taking the 119 handle in its stride FXStreet (Guatemala) - USD/JPY currently trades 119.44 with a high at 119.66 and a low of 118.36, currently up on the US shift by 0.81%. USD/JPY remains in a wide range overall while risk aversion threatens the bulls down to 115.50 vs the grain that is to the upside and targets the 120 psychological handle. The price action has been on the bid and pairing back recent losses that tested the less committed bulls down to the 118 handle. The Yen will remain supported due to the heightened growth concerns, one of which remains with the price of oil. It is the sheer momentum and steepness of the decline that has heightened investor concerns that displays a lack of global demand for the black stuff and thus implies slower global expansion ahead. Technically, USD/JPY has moved back into a neutral formations in the short term and moves back into the territory of the Dec formed cloud. 118.00 is key and guards the outlook for a breaths run down to test Dec lows of 115.50. Next up to test the commitment of the bulls are the FOMC minutes - looking for signals within the language around the proposed first rate hike. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 07,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 7, 2015 Author Share Posted January 7, 2015 US data coming in mixed of late - watch for volatility - BTMU FXStreet (Guatemala) - Derek Halpenny, European Head of Currency Strategy at the Bank of Tokyo Mitsubishi UFJ noted that the data from the US has become a little more mixed of late. Key Quotes: “This may well fuel speculation that the drop in crude oil prices will show up in a slowing of US economic growth. We maintain that the overall net impact for the US economy is certainly positive and the boost to real incomes for US consumers will be far more important than the impact of knocked out shale production in key energy-intensive states." “But how that plays out in the flow of economic data releases is admittedly more uncertain”. "It is feasible that the data flow becomes more volatile that may mean a period of monetary policy expectations being pared back before we see the clear net benefits of the boost to real incomes from the fall in crude oil prices." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 07,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 7, 2015 Author Share Posted January 7, 2015 Dec FOMC minutes of special interest - Danske FXStreet (Guatemala) - Analysts at Danske noted the FOMC coming up and suggested that they are especially interesting this time around. Key Quotes: "The latest Fed minutes are published tonight. It will be interesting given the removal of ‘considerable time’. For now, though, consensus of a June hike seems to be building, which should also be reflected in the minutes”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 07,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 9, 2015 Author Share Posted January 9, 2015 Canada Building Permits (MoM) below expectations (1%) in November: Actual (-13.8%) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 09,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 9, 2015 Author Share Posted January 9, 2015 Non-farm Payrolls increase by 252k, December revised upwards, unemployment rate declines to 5.6 percent FXStreet (London) - Total non-farm payroll employment rose by 252K in December, and the unemployment rate declined to 5.6 percent, the U.S. Bureau of Labor Statistics reported today. The BLS reported that job gains occurred in professional and business services, construction, food services and drinking places, health care, and manufacturing. The unemployment rate declined further than expected - down 0.2 percentage point to 5.6 percent in December, and the number of unemployed persons declined by 383,000 to 8.7 million. Over the year, the unemployment rate and the number of unemployed persons were down by 1.1 percentage points and 1.7 million, respectively. In December, average hourly earnings for all employees on private nonfarm payrolls decreased by 5 cents to USD24.57, following an increase of 6 cents in November. Over the year, average hourly earnings have risen by 1.7 percent. In December, average hourly earnings of private-sector production and nonsupervisory employees decreased by 6 cents to USD20.68. The change in total nonfarm payroll employment for October was revised from +243K to +261K, and the change for November was revised from +321K to +353K. With these revisions, employment gains in October and November were 50K higher than previously reported. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 09,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
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