OctaFX_Farid Posted January 14, 2015 Author Share Posted January 14, 2015 GBP/USD gathering pace - FXStreet FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted how the GBP/USD has gathered momentum. Key Quotes: "There was no news in the UK to affect the pair, driven at the time being by self dollar weakness". "The technical picture in the short term supports further advances particularly if price breaks 1.5275 resistance, as indicators head strongly higher above their midlines moving away from a mild bullish 20 SMA". "In the 4 hours chart the upward potential seems even stronger, supporting the shorter term view".. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 14,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 14, 2015 Author Share Posted January 14, 2015 EUR/USD recovery falters at 1.1845 FXStreet (Córdoba) - EUR/USD recovery from fresh 9-year lows was capped by the 1.1845 zone during the American session, confining the pair to a phase of consolidation over the last hours. EUR/USD fell below 1.1747 level at which the euro first traded on Jan 4, 1999 and hit a fresh 9-year low of 1.1726 before finding support. Disappointing US retail sales hurt the dollar and helped EUR/USD to regain the 1.18 mark but momentum was lacking. At time of writing, the pair is trading at 1.1805, 0.29% above its opening price. EUR/USD levels to watch As for technical levels, immediate resistances could be found at 1.1845 (Jan 14 high) and the 1.1870/80 zone (Jan 12 high/10-day SMA) ahead of 1.1900 (psychological level). On the other hand, supports are seen at 1.1726 (9-year low Jan 14) and 1.1700 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 14,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 14, 2015 Author Share Posted January 14, 2015 EUR/JPY back off the lows of the 137 handle FXStreet (Guatemala) - EUR/JPY is currently trading at 137.82 with a high of 138.94 and a low of 137.01 and down 0.63% on the day. EUR/JPY has been falling on a number of counts and makes new territory on the lower end of the 137 handle with 137.20 coming in as a fragile support. The ECB is around the corner and officials are sounding more and more dovish in respect of timings action required in the economy for looser policy while the Yen is carrying the risk off benefits and has recently surged higher vs the greenback on disappointments from the US calendar as well. Karen Jones, chief analyst at Commerzbank explained the Elliott wave count on the intraday chart is suggesting we allow for a retracement into the 141.45/142.56 band prior to another leg lower. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 14,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 14, 2015 Author Share Posted January 14, 2015 EMU: production rises unexpectedly in November - KBC FXStreet (Guatemala) - Analysts at KBC noted that Euro zone industrial production rose unexpectedly in November. Key Quotes: "Showing its third consecutive monthly gain". "Production increased by 0.2% M/M, while a flat outcome was expected. Also the previous month’s figure was upwardly revised, from 0.1% M/M to 0.3% M/M". "The breakdown shows that strength was based in durable consumer goods (1.9% M/M) and to a lesser extent also in intermediate goods (0.3% M/M) and non‐durable consumer goods (0.5% M/M)". "Energy production fell by 0.9% M/M and output of capital goods dropped slightly, by 0.2% M/M. National data are however very mixed. Production rebounded sharply in Ireland (4.6% M/M) and rose slightly in Italy (0.3% M/M), the Netherlands (0.5% M/M) and Luxembourg (0.3% M/M). In Germany, production was stable, but output dropped in Greece, Spain and France". "Compared with the same period last year, euro zone production is down by 0.4%, confirming that activity remained poor in the euro area. While the data are a positive for fourth quarter growth, it is needless to say that activity in the euro area remains sluggish due to poor external demand and the slow recovery in the euro area" OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 14,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 15, 2015 Author Share Posted January 15, 2015 USD/JPY remains below 117.00 after US data FXStreet (Córdoba) - USD/JPY edged a few pips higher but remained capped by the 117.00 level, following the latest string of mixed US data. US initial jobless claims rose by 19,000 to a 4-month high of 316,000 in the week ending Jan 9, above the 295,000 expected and marking its first reading above 300,000 since Thanksgiving. On the other hand, producer price index rose by 1.0% in December beating the 1.0% expected and NY Empire State manufacturing index climbed to 9.95 vs 5.00 of consensus, outweighed the negative employment reading. USD/JPY climbed to an hourly high of 116.93 but lacked momentum to regain the 117 mark. At time of writing, the pair is trading at 116.85, still 0.38% below its opening price. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 15,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 15, 2015 Author Share Posted January 15, 2015 EUR/USD fall in reaction to QE might be short-lived – Growth Aces FXStreet (Barcelona) - The Growth Aces Team expects the medium-term EUR/USD outlook to be bullish, and further add that the fall in the pair in anticipation of QE might be short lived. Key Quotes “The EUR/USD traders are waiting now for U.S. CPI data tomorrow. Lower-than-expected reading will probably strengthen the EUR/USD and this could be a good opportunity to get short ahead on the EUR/USD.” “Our baseline scenario assumed that a fall of the EUR/USD in reaction to the QE programme will be short-lived and profit-taking could lift the rate soon. We expected the medium-term outlook for the EUR/USD is slightly bullish due to possible delaying rate hikes by the Fed. However, this scenario is under threat after today’s decision of the SNB. There is a risk that a strong crisis in Europe that may be the consequence of the SNB decision may make investors turn into safe-haven assets. This means that the EUR may depreciate further against the USD." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 15,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 15, 2015 Author Share Posted January 15, 2015 GBP/USD wavers around 1.5200 FXStreet (Córdoba) - GBP/USD has had a quiet day considering the turbulence in FX markets triggered by Swiss National Bank decision to abandon the franc cap. Cable fell to a low of 1.5156 as immediate reaction, but it managed to erase intraday losses and climbed to fresh daily highs at the 1.5265 area. GBP/USD has steadied a few pips above 1.5200, where it trades little changed on the day, despite GBP/CHF strong slump toward the 1.2740 zone, level last seen in 2011. GBP/USD technical outlook “The 1 hour chart shows price below its 20 SMA as indicators head lower around their midlines, while in the 4 hours chart the price holds above a bullish 20 SMA whilst indicators continue to aim higher after bouncing from their midlines, keeping the downside limited for now”, said Valeria Bednarik, chief analyst at FXStreet. Bednarik locates immediate resistance levels at 1.5220, 1.5275 and 1.5320, while she sees supports at 1.5180, 1.5145 and 1.5100. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 15,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 15, 2015 Author Share Posted January 15, 2015 Gold at day's high after dismal US data FXStreet (Mumbai) - Gold prices rose to a day high of USD 1264.30/Oz levels before settling slightly lower, after the regional manufacturing index in the US showed sharp decline in the activity. The yellow metal hovers at USD 1261.51/Oz levels; up 2.11% for the day. The Philadelphia Federal Reserve manufacturing activity index declined to 6.3, missing the expected print of 18.7, and down from December’s 24.3. Earlier today, the labor department data also showed initial jobless claims rose sharply to 316K for the week ended Jan. 10, beating the estimate of 290K. Moreover, with the exception of New York Fed’s general business conditions index, all other data releases have been dismal, which supports gains in the yellow metal. Gold may extend gains if the US stock markets extend slump later in the day. Gold Technical Levels The immediate resistance is seen at 1272.40, above which gains could be extended to 1282.90 levels. Meanwhile, support is seen at 1255.10 and 1244.40 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 15,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 15, 2015 Author Share Posted January 15, 2015 Silver restricted around Dec 2014 highs FXStreet (Mumbai) - Silver advanced today, tracking the gains in Gold prices, although the metal once again finds itself stuck around the December 2014 high of USD 17.33. Silver currently trades 0.77% higher for the day at USD 17.11/Oz levels, compared to the previous session’s close at USD 16.84/Oz levels. The metal has seen failure near Dec 2014 highs for the third consecutive session today. On the other hand, Gold prices have been able to rise above the 200-DMA levels today; trading 2% higher for the day. Moreover, Silver being a semi-industrial metal, has been unable to extend gains due to the weakness seen in other industrial metals. Silver Technical Levels The immediate resistance is seen at 17.21, above which the prices could test 17.33 (Dec. 10 high). Meanwhile, support is seen at 16.81 (5-DMA) and 16.5460 (100-DMA) levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 15,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 15, 2015 Author Share Posted January 15, 2015 Silver restricted around Dec 2014 highs FXStreet (Mumbai) - Silver advanced today, tracking the gains in Gold prices, although the metal once again finds itself stuck around the December 2014 high of USD 17.33. Silver currently trades 0.77% higher for the day at USD 17.11/Oz levels, compared to the previous session’s close at USD 16.84/Oz levels. The metal has seen failure near Dec 2014 highs for the third consecutive session today. On the other hand, Gold prices have been able to rise above the 200-DMA levels today; trading 2% higher for the day. Moreover, Silver being a semi-industrial metal, has been unable to extend gains due to the weakness seen in other industrial metals. Silver Technical Levels The immediate resistance is seen at 17.21, above which the prices could test 17.33 (Dec. 10 high). Meanwhile, support is seen at 16.81 (5-DMA) and 16.5460 (100-DMA) levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 15,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 15, 2015 Author Share Posted January 15, 2015 Natural Gas declines after inventory data FXStreet (Mumbai) - Natural gas prices in the US trade declined from the session highs after the data in the US showed a larger than expected drawdown in the inventories during the last week. The February futures traded 1.76% higher at USD 3.29/mmBtu, compared to the previous session’s close at USD 3.233/mmBtu. Gas prices eased from the session high of USD 3.35 hit ahead of the data , in anticipation of a drop in the inventories. Thus, we are witnessing a classic “buy the rumor, sell the fact” trade as prices inched lower after the data confirmed a larger drop in the inventories. The EIA data showed inventories dropped 236 billion cubic feet (Bcf), beating the estimated drop of 224 Bcf, and higher than the previous week’s drop of 113 Bcf. Natural Gas Technical Levels The immediate resistance is seen at 3.349, above which gains could be extended to 3.4 levels. Meanwhile, support is seen at 3.236, under which Natural gas could fall sharply to 2.97 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 15,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 15, 2015 Author Share Posted January 15, 2015 Swiss deflationary risks have increased- Rabobank FXStreet (Guatemala) - Jane Foley, Senior Currency Strategist at Rabobank explained that the press release that accompanied today’s move from the SNB makes the point that the euro has depreciated considerably against the US dollar and this, in turn, has caused the Swiss franc to weaken against the US dollar. Key Quotes: "In these circumstances, the SNB concluded that enforcing and maintaining the minimum exchange rate for the Swiss franc against the euro is no longer justified." "While there is sense in the central bank maintaining an optimistic spin to provide some support to inflation expectations, it is difficult to accept that the SNB wasn’t forced into today’s decision." "Switzerland’s effective exchange rate has continued to push higher since the middle of last year in reflection of the downward pressure on EUR/CHF." "Even assuming that the SNB may have to intervene some more to help EUR/CHF stabilise, the deflationary risks facing Switzerland appear to have increased." "In an environment in which low interest rates are no longer proving an effective tool to counter deflation, the failure of the SNB’s floor should be lamented by policy-makers who appear to be increasing running out of policy tools." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 15,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 15, 2015 Author Share Posted January 15, 2015 SNB ends EUR/CHF floor, CHF skyrockets - ANZ FXStreet (Guatemala) - Analysts at ANZ noted the recent recents surrounding the SNB's actions. Key Quotes: "The SNB announced the end of the EUR/CHF floor at 1.20." "The SNB simultaneously moved interest rates more negative with 3m Libor target now -1.25% to -0.25%." "The SNB said it will continue to take account of the exchange rate in formulating monetary policy." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 15,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 16, 2015 Author Share Posted January 16, 2015 Dukascopy announces that it is secure after yesterday's CHF volatility FXStreet (London) - Swiss brokerage Dukascopy Group has announced that it remains on firm footing after yesterday’s CHF volatility. Dukascopy had previously warned clients of the risk of an end to the EUR/CHF peg in October 2014. "Due to the possibility of a break of the 1.2000 floor in EUR/CHF which may see significant price gaps and cause negative equity on client accounts, Dukascopy Bank is forced to implement a maximum leverage for EURCHF exposures of 1:10 as of 12 October 2014". The statement from Dukascopy comes after brokers Alpari and Excel Markets were forced to shutter as a result of substantial client losses. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 16,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 16, 2015 Author Share Posted January 16, 2015 EUR/USD drops to 1.1540 FXStreet (Edinburgh) - EUR/USD accelerated its downside following further US data releases on Friday, meandering around multi-year lows near 1.1540. EUR/USD looking for direction The pair quickly left behind the post-SNB lows in the 1.1570 region, unable to pick up pace despite both the Industrial Production and Capacity Utilization in the US economy came in below consensus. Industrial Production contracted 0.1% inter-month in December while the Capacity Utilization decreased to 79.7% during the same period, vs. 80% expected and previous. The Reuters/Michigan index is due next, with surveys expecting an improvement to 94.1 for the present month, up from 93.6. EUR/USD key levels At the moment the pair is losing 0.64% at 1.1544 and a breach of 1.1505 (low Nov.12 2003) would expose 1.1445 (low Nov.11 2003). On the flip side, the initial barrier lines up at 1.1647 (hourly high Jan.16) followed by 1.1792 (high Jan.15) and finally 1.1805 (200-h MA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 16,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 16, 2015 Author Share Posted January 16, 2015 Reuters/Michigan consumer sentiment index jumps to 98.2 FXStreet (Córdoba) - Reuters/Michigan consumer sentiment index rose to 98.2 in January, according to preliminary estimates, recording its highest level in more than 10 years. The index rose 4.6 from a final December reading of 93.6, also beating market’s consensus of 94.1. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 16,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 16, 2015 Author Share Posted January 16, 2015 GBP/USD heading for weekly lows? FXStreet (Guatemala) - GBP/USD is currently trading at 1.5113 with a high of 1.5237 and a low of 1.5112 and down 0.39% on the day. GBP/USD is weak, or rather, the greenback is strong. The pair has been making fresh lows this month and penetrating the 1.51 handle for the low of 1.5034 made on the 8th and attempts to the upside have been capped at 1.52671. The recent turmoil in markets post the SNB has seen the dollar start to benefit as analyst begin to predict that the outcome of the events are likely dollar favourable while positive data underpins a bullish bias in the currency. Earlier today, CPI was released at 0.8% vs 0.7% consensus and the recent release of the Michigan Consumer Sentiment beat expectations at 98.2 vs 94.1 expected. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 16,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 16, 2015 Author Share Posted January 16, 2015 US divergent growth factors - BNP FXStreet (Guatemala) - Alexandra Estiot, analyst at BNP Paribas explained factors around the US growth outlook. Key Quotes: "Plunging oil prices and a surging dollar are holding down inflationary pressures". "In the past, these trends have had divergent effects on growth: positive for falling oil prices and negative for a stronger dollar". "The United States has become the leading fossil fuel producing country. Consequently, it is no longer all that easy to evaluate the consequences of declining crude oil prices. Moreover, many of its trading partners will be hard hit by falling commodity prices". "All in all, these effects, though only temporary, will have a bigger impact on prices than on growth". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 16,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 16, 2015 Author Share Posted January 16, 2015 US divergent growth factors - BNP FXStreet (Guatemala) - Alexandra Estiot, analyst at BNP Paribas explained factors around the US growth outlook. Key Quotes: "Plunging oil prices and a surging dollar are holding down inflationary pressures". "In the past, these trends have had divergent effects on growth: positive for falling oil prices and negative for a stronger dollar". "The United States has become the leading fossil fuel producing country. Consequently, it is no longer all that easy to evaluate the consequences of declining crude oil prices. Moreover, many of its trading partners will be hard hit by falling commodity prices". "All in all, these effects, though only temporary, will have a bigger impact on prices than on growth". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 16,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 16, 2015 Author Share Posted January 16, 2015 SNB creates shockwaves - Rabobank FXStreet (Guatemala) - Analysts at Rabobank noted that after more than 3 years, the SNB this week abruptly stopped trying to protect the EUR/CHF 1.20 floor. Key Quotes: "The SNB claimed that the overvaluation of the CHF has decreased in the past three years. In contrast, we would argue that protecting the EUR/CHF1.20 floor became too difficult in the face of renewed demand for the CHF as a safe haven asset in addition to the continued weakness of the EUR." "The news, which was accompanied by a decision to push interest rates further into negative territory, came just one week ahead of an anticipated pledge by the ECB to launch quantitative easing which could further pressure the EUR." "The SNB’s decision has had far reaching implications, one of which is to accelerate the broad-based downtrend in the EUR. As a consequence we have lowered our forecasts for many EUR crosses." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 16,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 16, 2015 Author Share Posted January 16, 2015 USD/CHF attempts to stabilize above 0.8500 FXStreet (Córdoba) - The Swiss franc resumed the rise versus the dollar during the American session after a brief correction following yesterday outstanding rally triggered by the SNB. USD/CHF reached a high of 0.8800 during the European trade but failed to sustain that level and retreated toward the 0.8450 zone in recent dealings. The pair has spent the day zigzagging in a wide range, without a clear direction as investors overcome yesterday’s SNB shock. At time of writing, USD/CHF is trading at the 0.8500 zone, 16% below yesterday’s highs scored above 1.0200 before the SNB decided to remove the EUR/CHF floor. The unprecedented turmoil unleashed by the Swiss National Bank crushed Swiss stocks, with the nation’s index losing 13% over the last two sessions, and yields on the 10-year government bonds falling below zero for the first time ever. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 16,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 19, 2015 Author Share Posted January 19, 2015 USD/JPY downside looks to 115.50 – Commerzbank FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, highlighted the relevance of the support level in the mid-115.00s for USD/JPY. Key Quotes “Loss of 115.50 would introduce scope for a retracement towards 113.50/111.55, but currently the Elliott wave count is suggesting that this will hold”. “Initial resistance is offered by the 55 day ma at 118.15, tougher resistance is the 120.09 short term downtrend and directly above the market lies the 122.58/123.40 major resistance, this is the location of the 14 year downtrend and the long term Fibonacci retracement”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 19,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 19, 2015 Author Share Posted January 19, 2015 GBP/USD outlook remains bearish – OCBC Bank FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, reiterated the negative stance for the GBP/USD. Key Quotes “EUR-GBP on Friday continued to sink lower under the weight of EUR negativity although GBP-USD has also been induced lower by the broad dollar and the spillover from the EUR”. “Expectations towards any BOE hawkishness have all but evaporated with CFTC data showing a significant jump in net leveraged GBP short in the latest week”. “We stay negative on the pair in the interim”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 19,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 19, 2015 Author Share Posted January 19, 2015 Brent trades below USD 50/barrel FXStreet (Mumbai) - Brent Crude prices fell below USD 50/barrel today after Iraq announced record oil production, thereby increasing concerns of supply glut. The march futures traded 1.64% lower at USD 49.35/barrel at the time of writing, compared to the previous session’s close at USD 50.17/barrel. Prices fell from the session high of USD 50.34 on concerns of increased supply from Iraq. Iraqi Oil Minister Adel Abdel Mehdi said on Sunday Iraq pumped 4 million barrels per day (bpd) of oil in December, its highest ever. Meanwhile, Brent was also hit by expectations of a weak Q4 GDP print in China, due for release tomorrow. The country is expected to report GDP at 7.2% year-on-year, its weakest since the 2008 crisis. Brent Technical Levels The immediate support is seen on the hourly charts at 49.27, under which losses could be extended to 48.73 levels. Meanwhile, resistance is seen at 50.02 and 50.34 levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 19,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 19, 2015 Author Share Posted January 19, 2015 EUR/CHF looks to the ECB – Danske Bank FXStreet (Edinburgh) - Senior Analyst at Danske Bank Lars Christensen argued that the following next steps by the European Central Bank could prove to be crucial for the cross. Key Quotes “The SNB’s surprise removal of the 1.20 EUR/CHF floor has brought volatility back to global FX markets and this is likely to persist for a while, as CHF markets learn about the SNB’s new reaction function”. “The CHF will now be subject to much less predictable SNB policy moves and we cannot rule out that the SNB will have to do more (rate cuts and/or intervention) to match an upcoming ECB QE move”. “Indeed, the SNB will have a hard time justifying continued CHF strength, as deflation remains an entrenched issue for the Swiss economy”. “We stress, however, that the ECB policy will be crucial for EUR/CHF in the near term”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 19,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
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