OctaFX_Farid Posted January 19, 2015 Author Share Posted January 19, 2015 Stronger Dukascopy Bank looks for acquisitions - FXStreet.com mistake FXStreet (London) - After having passed through the effects of the Swiss National Bank’s surprise decision on Thursday 15 to cease defending the CHF1.200 level and the ensuing high volatility and low liquidity conditions, Dukascopy Bank has reported a 100 percent increase in account applications and looks to acquire brokers in trouble. FXStreet announcement dated 16 January 2015 according to which Dukascopy Bank would have suffered USD 40 million losses was mistaken. Our news has been corrected here and we apologize for the confusion. Below is the public announcement of Dukascopy Bank dated 16 January 2015: Dukascopy Bank CHF dramatic shift Dukascopy Group announced that it has safely passed through the CHF dramatic price shift. It was achieved thanks to advanced execution technology, careful risk management policy and reduced leverage on EURCHF till level of 1:10. The scenario of such shock had been anticipated four months in advance as shown in Dukascopynews published on 3rd of 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". Dukascopy well known ECN business model and careful risk management approach proved once again to be reliable and trustworthy. 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 BoJ could revise lower the CPI – BTMU FXStreet (Edinburgh) - Derek Halpenny, European Head of GMR at BTMU, expects the inflation figures in the Japanese economy to be revised lower by the BoJ in its next meeting. Key Quotes “The January monetary policy meeting is one in which we get an update on the semiannual GDP and inflation forecasts from the BOJ”. “At the meeting on 31st October, the BOJ had a core CPI forecast of 1.7% for FY2015 and 2.1% for FY2016”. “Given that oil prices have dropped by 40% since that date, it is highly likely that CPI will now be around 0.5ppt lower than what the BOJ had thought”. “Indeed, assuming the crude oil price remains as it is and given the sales tax increase will drop out of annual CPI readings from April, the chances are reasonably high that core CPI could fall close toward zero percent over the summer months”. “That will put increasing pressure on the BOJ to do more. This week’s meeting may see (as we stated last week) two lending programs being extended beyond the current deadline of March”. “At this stage and given what’s happening in terms of the outlook for CPI, an extension of these programs would not be a surprise”. 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 Alpari appoints administrators FXStreet (London) - Richard Heis, Samantha Bewick and Mark Firmin of KPMG LLP were today appointed special administrators to Alpari (UK) Ltd. Alpari (UK) Ltd applied for insolvency on today following the decision on Thursday by the Swiss National Bank cease to defend the CHF1.200 level against the euro. In a statement issued on Friday, Alpari said that the move “resulted in exceptional volatility and extreme lack of liquidity. This has resulted in the majority of clients sustaining losses which has exceeded their account equity. Where a client cannot cover this loss, it is passed on to us.” After a weekend spent in urgent discussions with various parties with a view to selling the company, these efforts were ultimately unsuccessful. Commenting on the appointment, Richard Heis, partner at KPMG and joint special administrator, said: "Following the announcement by the SNB last week, Alpari (UK) Ltd sustained substantial losses as a result of negative client balances, and was faced with no other choice but to enter into special administration. We have had a number of enquiries from interested parties in relation to the company's business. We will be speaking with these parties and others over the next few days, and hope to secure a deal to preserve the business and jobs as far as possible." He continued: "The company holds some USD98.5 million of retail client money which has been segregated and we shall be returning this to clients or making other suitable arrangements in accordance with statute and the regulatory framework at the earliest opportunity." 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 CHF shorts largest since mid 2013- SG FXStreet (Guatemala) - Kit Juckes, Global Head of Currency Strategy at Societe Generale noted that with the US quiet for Martin Luther King Day, a post-SNB, pre-ECB contemplative mood is likely across markets. Key Quotes: "CFTC data show us that as of last Tuesday, the speculative end of the FX market was still increasing the size of its euro short while trimming its yen short." "The US 10-year Treasury short was pared back more aggressively, and for the record, the Swiss franc short position was also increased to its largest size since mid-2013. I'm feeling stupider on that topic by the day." 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 Canadian dollar and crosses in technical snapshot - TDS FXStreet (Barcelona) - Analysts at TD Securities gave us a snapshot technical analyses on the Canadian dollar and crosses. Key Quotes: "USD/CAD retains a positive technical bias but trend momentum has stalled in the short-term." "EUR/CAD trades heavier, pressures low end of range." "AUD/CAD rebound extends into former consolidation range." "GBP/CAD tracks higher but lacks momentum for a break above key resistance at the moment." "CAD/JPY tries to pull out of December/January dive." 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 20, 2015 Author Share Posted January 20, 2015 EUR/USD could test 1.10 in 12-month view – Rabobank FXStreet (Edinburgh) - Jane Foley, Senior Currency Strategist at Rabobank, suggests the value of the European pair could slip to 1.10 in a 12-month horizon. Key Quotes “By whipping the markets into a frenzy of anticipation ahead of Thursday’s policy-meeting, ECB President Draghi has succeeded in squeezing out a huge amount of market impact from the promise of QE and the currency markets are taking the strain”. “There is the danger of a ‘sell on the fact’ reaction which could push the EUR a little higher”. “However, Draghi has proved himself in the past to be masterful in directing markets”. “The EUR may not be a policy tool of the ECB, but the policy decisions taken since June last year suggest that the central bank is bent on weakening it”. “We have revised lower our 12 mth EUR/USD forecast to 1.10”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 20, 2015 Author Share Posted January 20, 2015 Germany repatriated 120 tonnes of gold in 2014 - Deutsche Bundesbank FXStreet (Mumbai) - Deutsche Bundesbank said on Monday it had accelerated its bullion repatriation scheme last year, bringing back German gold from Paris and New York. The German central bank said it “stepped up” its bullion transfers during 2014, bringing 35 tonnes of its gold from Paris and another 85 tonnes from New York. The repatriation scheme is the country’s effort to bring 674 tonnes, or half of Germany’s total stocks, back to Frankfurt by the end of the decade. “Implementation of our new gold storage plan is proceeding smoothly. Operations are running very much according to schedule," Carl-Ludwig Thiele, member of the Executive Board of the Deutsche Bundesbank said in a statement. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 20, 2015 Author Share Posted January 20, 2015 依旧倾向逢高沽英镑——华侨银行 FXStreet-华侨银行策略师Ng称，依旧倾向逢高沽英镑，下行势能犹存。 尽管欧元/美元反弹有限，但英镑依旧设法走强。 焦点在于明天英央行会议纪要，特别关注通胀描述。 期间，继续建议逢高沽英镑，目标指向1.5035。 OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 20, 2015 Author Share Posted January 20, 2015 EUR/USD clinging to 1.1600 FXStreet (Edinburgh) - The shared currency remains in the upper end of today’s range, with EUR/USD hovering over the 1.1600 neighbourhood. EUR/USD passed the ZEW test Auspicious results from the ZEW Survey in both Germany and the EMU gave initial support to the EUR, pushing spot to session highs around 1.1610/20. However, the current context of USD strength appears to cap any bullish attempts, relegating the pair to the 1.1600 surroundings. Next of note in the bloc will be the crucial ECB meeting on Thursday, when apparently everything points to an announce by the central bank of a QE programme worth at least €500 billion of sovereign bond purchases. EUR/USD levels to watch As of writing the pair is down 0.16% at 1.1590 and a break below 1.1528 (61.8% of 1.1460-1.1639) would target 1.1460 (11-year low Jan. 16) en route to 1.1445 (low Nov.11 2003) en route to 1.1376 (low Nov.7 2003). On the flip side, the initial hurdle lines up at 1.1649 (high Jan.16) followed by 1.1726 (10-d MA) and finally 1.1792 (high Jan.15). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 20, 2015 Author Share Posted January 20, 2015 AUD/USD back above 0.8200 FXStreet (Córdoba) - The Australian dollar managed to erase intraday losses and climbed back above the 0.8200 level during the European session, to trade nearly flat on the day. AUD/USD failed to benefit from better-than-expected Chinese economic growth in the final quarter of 2014 as any optimism over China quickly faded after the IMF downgraded its global growth expectations. AUD/USD weakened and dropped to a low of 0.8159 during the Asian trade but eventually found buyers, took back losses and climbed to a daily high of 0.8217. At time of writing, the pair is trading at 0.8205, virtually unchanged on the day. ECB upcoming meeting on Thursday is absorbing most of market's attention, keeping investors cautious and sidelined. AUD/USD technical levels As for technical levels, immediate resistances for AUD/USD line up at 0.8217 (daily high), 0.8255 (Jan 16 high) and 0.8294 (Jan 15 high). On the other hand, supports are seen at 0.8159 (daily low), 0.8132 (Jan 15 low) and 0.8100 (psychological level). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 20, 2015 Author Share Posted January 20, 2015 GBP/JPY hits 1-week highs FXStreet (Córdoba) - The recovery of the pound after falling sharply during the Asian session and a weak yen amid risk appetite pushed GBP/JPY to the strongest level in a week. The pair opened the day trading around 177.60 and broke above 178.40, that was an important short term resistance and soared to 179.60, level last seen in January 13. From last week lows the pound has risen almost 400 pips. GBP/JPY technical outlook The pair continues to move within a bearish trend on a wider perspective but in the short term is moving with a bullish bias, on a recovery mode. Currently is testing an important resistance around 179.60/65 (Jan 15 high). The key short term support lies around 178.00, where an ascendant trendline originated at January 16 low stands. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 20, 2015 Author Share Posted January 20, 2015 USD/CAD improves towards 1.2000 FXStreet (Edinburgh) - The greenback is quickly picking up pace on Tuesday, pushing USD/CAD towards the vicinity of the critical 1.2000 barrier. USD/CAD eyes on US docket The pair is re-gaining momentum vs. its Canadian counterpart in the first half of the week, looking to retake the 1.2000 handle and beyond. As the USD-strength gathers steam, the next data releases will be Canadian Manufacturing Sales (-0.6% MoM exp. Nov.) followed by the Housing Market index gauged by NAHB (58 exp. Jan), all preceding the more relevant BoC monetary policy meeting due tomorrow. In the view of Shaun Osborne, Chief FX Strategist at TD Securities, “Intraday charts are neutral but the longer-term charts are bullish and point to a test of 1.22 shortly (76.4% Fibonacci retracement of the 1.30/0.94 drop). USD/CAD levels to consider At the moment the pair is up 0.44% at 1.2000 with the next hurdle at 1.2047 (2015 high Jan.16) followed by 1.2070 (low Apr.24 2009) and then 1.2100 (psychological level). On the downside, a break below 1.1940 (low Jan.20) would aim for 1.1934 (low Jan.19) and finally 1.1922 (Tenkan Sen). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 20, 2015 Author Share Posted January 20, 2015 GBP/AUD inches closer to 100-DMA FXStreet (Mumbai) - The GBP/AUD pair rose sharply today as the gains in the UK Gilt yields pushed the Pound higher across the board, while the Aussie weakened on concerns of a slowdown in China. The pair currently trades 0.71% higher at 1.8536, after having recovered from a low of 1.8344 hit earlier today. The AUD/USD pair declined 0.19%, after the Chinese full year 2014 GDP came-in at 7.4%, the slowest in 24 years. Meanwhile, the gains in the UK Gilt yields at the short-end as well as the long-end of the yield curve helped GBP/USD to recovery early losses to trade 0.53% higher at 1.5192 levels. Thus, the GBP/AUD pair is now within a touching distance from the 100-DMA located at 1.8552 levels. GBP/AUD Technical Levels The immediate resistance is seen at 1.8552 (100-DMA), above which gains could be extended to 1.8590 levels. Meanwhile, support is seen at 1.8527 (hourly 200-SMA) and 1.8489 (hourly 100-SMA) levels. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 20,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 22, 2015 Author Share Posted January 22, 2015 Draghi: EUR60bn-a-month programme beginning in March FXStreet (London) - In his press conference following the European Central Bank rate decision, Mario Draghi, the ECB president, has announced the launch of an expanded asset purchase programme, which will include existing purchase programmes for asset-backed securities and covered bonds. Combined monthly purchases will be EUR60 billion, to be carried out at least until the end of September Purchases will continue until there is a sustained adjustment in the inflation path consistent with aim of inflation close to, but below 2 percent over the medium term. Purchases will start in March 2015 and include investment-grade euro area government, agency and EU institution securities. Purchases to be based on the Eurozone National Central Banks’ shares in the ECB’s capital key. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 22,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 22, 2015 Author Share Posted January 22, 2015 Draghi: no special rule for Greece FXStreet (London) - Responding to questions over Greece’s eligibility under the EUR60bn-a-month asset purchase programme announced by Mario Draghi today, the European Central Bank president said that: “we don't have a special rule for Greece but there are some conditions that need to be fulfilled.” It follows the original statement on the ECB programme that additional eligibility criteria will be applied in the case of countries still under an EU/IMF adjustment programme. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 22,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 22, 2015 Author Share Posted January 22, 2015 ECB meeting: Euro to move lower after a short term squeeze higher – Investec FXStreet (Barcelona) - Jonathan Pryor, head of FX dealing at Investec Corporate and Institutional Treasury, expects euro to move lower and weaken further, supported by the ECB pumping Euro 1trn into the market over the next one and half years. Key Quotes "In the short term we risk a squeeze higher in the Euro now all policy is announced and there is no additional stimulus for the market to price in or pre-empty - what traders call ‘buy the rumour, sell the fact’. Once the dust has settled, we expect the Euro to move lower from here as the continued effect of negative deposit rates, combined with the flooding of over Euro 1 trillion extra into the market over the next year and a half, should continue to weaken the single currency." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 22,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 22, 2015 Author Share Posted January 22, 2015 EUR/DKK hits 3-week high after DNB cuts rates for second time this week FXStreet (Córdoba) - EUR/DKK rose to fresh 3-week high after the Danish Nationalbank cut its deposit rate to -0.35% from -0.2%, the second cut in 4 days, in response to ECB expanded asset purchase programme. The Danish Central Bank had lowered its deposit rate to -0.2% from -0.05% on Monday. EUR/DKK climbed to a recovery high of 7.4470 after the ECB and the DNB moves. At time of writing, the pair is trading at the 7.4420 area. The Danish decision came 90 minutes after the ECB announcement as the DNB fights to prevent the krone to appreciate. EUR/DKK fell to a low of 7.4283 on Jan 15 in the aftermath of the SNB decision to remove the EUR/CHF floor. Increasing pressure on the euro has supposedly force the Danish Bank to intervene in the FX market and to conduct its second rate cut this week. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 22,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 24, 2015 Author Share Posted January 24, 2015 US Session Recap: Greenback profits taken off table FXStreet (Guatemala) - Since the ECB made the deaccession to launch its sovereign QE programme, and with the SNB recent chopping the EUR/CHF floor, investors are liking the US more and more. The greenback is maintaining the top spot, despite profit taking, although it is losing the competitive edge when it comes to the currency wars, strengthening further vs the euro and subsequently across the board and analysts are now citing parity in 2016/17 - not good for US exporting business. Anyway, Stocks performed well as diversification of cash flows continues to favour the US assets. Stocks were posting scores on the board close to January's highs earlier on in the session. There were a handful of data events at the start of the shift, but thereafter, the session was down to traders to determine ebbs and flows of the currency tides for themselves. EUR/USD took back some ground lost from down on the lows at 1.1114 and managed a close back on to the 1.12 handle, albeit down from the highs of the recovery drift at 1.1289 down to 1.1207. GBP/USD is essentially following in the tracks of the EUR and this move from the ECB is dangerous for committed and stubborn Sterling bulls, as where the euro goes the pound will likely follow. Bears stamped on attempts through 1.5020 resistance drowning the pound back below the 1.50 handle to 1.4985, although finishing up on the day close to half a cent. USD/JPY stuck to a tighter range on the session of a choppy week, and settled into a sideways pattern around 117.80 resistance/support level post an early session recovery from 117.53. USD/CAD was trading better bid with good retails sales figures and the Bank of Canada Consumer Price Index Core (MoM) (Dec) coming in higher than expected. We went form 1.2377 to 1.2438 in the session. EUR/CHF was a choppy affair recovering from 0.9791 to 99.11 before dropping back to 0.9843, spiking again to 99.10 and chopping its way down through a drift to 98.50 and recovering for a close at 0.9870. USD/CHF was volatile with large swings, more so than EUR/CHF but with a load up on dips strategy with a low of 0.8707 for a high of 0.8811. Key Events: Bank of Canada Consumer Price Index Core (MoM) (Dec) bullish -0.3 vs -0.4 expected Canadian Consumer Price Index (MoM) (Dec) bearish -0.7% vs -0.6% exp Canadian Retail Sales (MoM) (Nov) bullish 0.4% vs -0.2% exp US Markit Manufacturing PMI (Jan) bearish 53.7 vs 54.0 exp US CB Leading Indicator (MoM) (Dec) bullish 0.5% vs 0.4% exp Existing Home Sales Change (MoM) (Dec) neutral 2.4% OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 24,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 26, 2015 Author Share Posted January 26, 2015 Data ahead: Eurozone CPI expected to fall – BBH FXStreet (Barcelona) - The Brown Brothers Harriman Team previews the Eurozone CPI data to be released later this week, anticipating it to register a negative print at -0.5%. Key Quotes “The January flash CPI report will give a taste of the challenge of the ECB's efforts to put prices back on track to reach its target of near, but below 2% on the headline rate. By simply deciding that its target is really the core rate, some pressure would be alleviated. Egos and inertia, more than economic rationality, lies behind the reluctance. Deflation is likely to have intensified.” “January CPI is expected to have fallen to -0.5% from -0.2% in December. The core rate is expected to be unchanged at 0.7%; low but not deflation. The ECB model projects its asset purchases will push CPI up by 0.4% this year and 0.3% next.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 24,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 28, 2015 Author Share Posted January 28, 2015 BNP Paribas: Fed retaining its December’s view might boost USD – eFXnews FXStreet (Barcelona) - The eFXnews Team shares BNP Paribas’ expectations for today’s FOMC statement. Key Quotes “BNP Paribas economics team is looking for Wednesday’s FOMC statement to closely resemble what was communicated back in December, with the Committee consensus looking beyond recent oil-fuelled drops in headline inflation and holiday distorted weakness in earnings.” “Confirmation that the FOMC has not changed its view since December should allow markets to rebuild Fed rate hike expectations, supporting the USD," “We are particularly focused on upsides prospects for USDJPY and USDCHF this week. The risk scenario for our view would be some evidence of increased Fed concern with falling headline inflation rates or, more significantly, some reference to the disinflationary impact of USD strength.” This content has been provided under specific arrangement with eFXnews. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 28, 2015 Author Share Posted January 28, 2015 USD/CAD might see a correction – TDS FXStreet (Barcelona) - Shaun Osborne, Chief FX Strategist at TD Securities, believes that unless USD/CAD makes a new high the chances of the pair seeing a sustained correction will rise. Key Quotes “We remain conviction CAD bears from a fundamental perspective—and not just against the USD. Similar considerations (policy and fundamental divergence) apply for GBPCAD and price gains (long-term consolidation break out and a move to new cycle highs) suggest the broader bull trend here is getting back on track.” “Note that the CAD is the primary under-performer in the G-10 space today, with GBPCAD making marginal new cycle highs earlier in the session just under 1.90.” “For the balance of the session, the absence of any Canadian domestic data leaves the CAD once again a slave to the flows and technical factors. Though we would note that EIA (DoE) crude inventory data at 10.30 ET warrant attention (we look for an inventory build after last night’s API data—this may be CAD-negative if the data gives the soft-looking WTI another push lower).” “On the charts, USDCAD has pushed a little higher on the day but yesterday’s peak around 1.25 and subsequent sell-off formed a bearish key reversal session on the daily chart—unless USDCAD can make new highs very quickly, the chances of a more sustained correction in the recent trend higher will rise.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 28, 2015 Author Share Posted January 28, 2015 Dovish Fed may push GBP/USD to 1.54 levels – FXStreet FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, GBP/USD may rise to 1.54 levels if the tone of the Fed’s statement comes out dovish, expecting markets to witness a correction in the Dollar across the board. Key Quotes “The US dollar witnessed a bout of profit booking across the board after the release of the surprisingly weak US Durable goods data yesterday. The 10-year Treasury yields hit a low of USD 1.75%, while Gold prices rallied to near USD 130/Oz levels. The US dollar index fell to 94.22 levels.” “Meanwhile, the GBP/USD pair rose to 1.52 levels today, marking another day of struggle around the same.” “GBP/USD may rise to 1.54 levels if the Federal Reserve (Fed) comes-out less hawkish than expected.” “The bullish view is largely dependent on the view that the Federal Reserve would come out less hawkish amid non stop action from all other central bankers.” “Even if the Fed does not change much of its stance and language with respect to the interest rates, the market is likely to witness the correction in the US dollar across the board.” “Technically, the bears are likely to stay on the sidelines so long as the pair trades below 1.51 levels.” “Thus, overall the up move anticipated at current levels provides an attractive risk reward ratio.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 28, 2015 Author Share Posted January 28, 2015 USD/CAD deflates to 1.2430 FXStreet (Edinburgh) - The US dollar is losing the grip on Wednesday sending USD/CAD back to visit the 1.2430 region. USD/CAD weaker, eyes on Fed After hitting fresh multi-year highs around the 1.2500 mark earlier in the week, spot triggered a correction lower that extended to 1.2380 in response to poor Durable Goods Orders in the US economy on Tuesday. In light of the upcoming FOMC meeting this evening in Europe, the pair will remain under pressure as prior surveys regarding the potential tone of the statement remain quite divided”. “We remain conviction CAD bears from a fundamental perspective—and not just against the USD”, commented Shaun Osborne, Chief FX Strategist at TD Securities. USD/CAD significant levels At the moment the pair is advancing 0.16% at 1.2424 with the initial barrier at 1.2502 (2015 high Jan.27) ahead of 1.2507 (high Apr.21 2009) and then 1.2600 (psychological level). On the downside, a breach of 1.2390 (low Jan.28) would aim for 1.2379 (low Jan.27) and finally 1.2360 (low Jan.23). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 28, 2015 Author Share Posted January 28, 2015 RBA and RBNZ might keep rates unchanged – Growth Aces FXStreet (Barcelona) - The Growth Aces Research Team expects both the RBA and the RBNZ to keep rates unchanged, anticipating the RBNZ action to be positive for NZD/USD and AUD/USD. Key Quotes “The RBA meeting is scheduled for next week and we do not expect any changes in interest rates.” “The AUD rose also against the NZD after the CPI data. In our opinion the rise was short-lived and the AUD/NZD rate is likely to go down again today after the Reserve Bank of New Zealand meeting (today 20:00 GMT), as we do not expect monetary easing in New Zealand.” “If the RBNZ keeps interest rates unchanged, it will be supportive not only for the NZD/USD but also for the AUD/USD.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted January 28, 2015 Author Share Posted January 28, 2015 NZD/USD remains capped below 0.7500; FOMC, RBNZ on tap FXStreet (Córdoba) - NZD/USD inched slightly higher throughout the day as Kiwi investors square positions ahead of the FOMC-RBNZ decisions. NZD/USD has risen more than half a cent and reached a peak of 0.7494, but it has, so far, lacked momentum to break above the 0.7500 psychological level. At time of writing, the pair is trading at 0.7490, up 0.62% on the day. The FOMC will release a policy statement at 19:00 GMT with attention centered in the "patience" approach to hiking rates. The more interesting to locals RBNZ decision will follow at 20:00 GMT. The Reserve Bank of New Zealand is expected to turn neutral on policy given the global economic situation. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Jan 28,2015 OctaFX.Com News Updates Quote Link to comment Share on other sites More sharing options...
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