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Bumpy ride for GBP/USD on US and UK inflation numbers FXStreet (London) - GBP/USD has seen a choppy day of trading, first declining on weaker-than-expected UK inflation numbers before recovering, followed by a second decline on higher US inflation numbers. More space for loose BoE policy The Office for National Statistics reported that consumer prices index-measured inflation (CPI) grew by 1.5 percent in the year to May 2014, down from 1.8 percent in April. Prices rose less than the consensus expectation of a 1.7 percent gain year-on-year. Sterling fell sharply against its peers on the assumption that the benign inflation data would give the Bank of England room to leave rates low for longer, despite the conspicuously more hawkish tone adopted by BoE governor Mark Carney and deputy governor Charlie Bean in recent comments According to the ONS, falls in transport services costs, notably air fares, provided the largest contribution to the decrease in the rate. Other large downward effects came from the food & non-alcoholic drinks and clothing sectors. The largest offsetting upward effects came from motor fuels and recreation & culture. The weaker UK inflation helped to buck a four-day rally in GBP/USD after it climbed to a multi-year highs, breaking through USD1.700 for the first time since 2009. Data checks GBP gains The pair recovered through the morning session but declined again on stronger-than-expected US inflation numbers. Stronger US inflation numbers The US Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in May on a seasonally adjusted basis. Year-on-year, the all items index increased 2.1 percent before seasonal adjustment. The BLS reported that the seasonally adjusted increase in the all items index, which was the largest since February 2013, was broad-based. The indexes for shelter, electricity, food, airline fares, and gasoline were among those that contributed. The food index posted its largest increase since August 2011, with the index for food at home rising 0.7 percent. The increases in the electricity and gasoline indexes led to a 0.9 percent rise in the energy index. GBP/USD is currently trading at USD1.6964, hitting a session-low of USD1.6941 on the UK inflation numbers before testing resistance at USD1.6950 on US data. The pair is currently down 0.09 percent on the session. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 17, 2014 OctaFX.Com News Updates

USD/JPY jumps after US CPI FXStreet (Córdoba) - The USD/JPY jumped and hit fresh daily highs at the beginning of the American session after data showed US consumer inflation rose at a faster pace in May. US consumer inflation index rose 2.1% YoY in May, while core CPI hit 2.0%, matching the Fed target. On the other hand, housing starts dropped more than expected, leaving room for the Fed to continue withdrawing monetary stimulus at at a moderate pace. As for the USD/JPY, the pair climbed back above 102.00 as the greenback gains on the data, hitting a 6-day peak of 102.18 before slowing. At time of writing, the USD/JPY is trading at the 102.15 zone, recording a 0.32% gain Tuesday. USD/JPY technical levels In terms of technical levels, the USD/JPY could find next resistances at 102.20 (100-day SMA), 102.38 (Jun 11 high) and 102.56 (Jun 10 high). On the flip side, supports are seen at 101.80 (Jun 17 lowl), 101.60 (Jun 12 low) and 101.54 (200-day SMA). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 17, 2014 OctaFX.Com News Updates

United States Redbook index (YoY) rose from previous 3.3% to 3.5% in June 13 Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 17, 2014 OctaFX.Com News Updates

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USD/JPY uninspired by US data FXStreet (Córdoba) - The USD/JPY edged a tad higher but remained down on the day after data showed US industrial production grew slightly above expectations in May. US industrial production rose 0.6% in May after falling 0.3% in April, surpassing forecast of a 0.5% increase, while capacity utilization rose to 79.1 from a revised 78.9 in April. The USD/JPY climbed a few pips after the data, which hardly classifies as a recovery, but lacked momentum. At time of writing, the USD/JPY is trading at the 101.85 zone, still down 0.2% on the day. USD/JPY technical outlook Valeria Bednarik, chief analyst at FXStreet notes the USD/JPY maintains a short-term bearish tone. “Nevertheless, the pair is seeing little action this Monday, finding short term support around 101.70”, said the analyst. “Some follow through either below 101.70 or above 102.35 is required to confirm some directional move in the pair”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 16, 2014 OctaFX.Com News Updates

United States Total Net TIC Flows up to $136.8B in April from previous $-122.3B Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 16, 2014 OctaFX.Com News Updates

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Session recap: consolidation mode at end of a dramatic week for GBP FXStreet (Guatemala) - Markets were somewhat in consolidation mode at the end of the week and the session has been somewhat sleepy, with World Cup distractions no doubt! We prepare now for the week ahead and the FOMC, focusing o the yield differentials, but meanwhile: EUR/USD remained pretty steady after slipping to the lows of 1.3520 in sleepy markets bar some of the short covering up to 1.3540. Markets attention will likely revert back to the interest yields ahead of the FOMC next week although today’s upset for the EZ from Italy in respect of short falls in bank capital is a reminder of the euro crisis in the background. USD/JPY was a non-event and very quiet post yesterday’s gains. GBP/USD was in consolidation mode after the bulls took the pair higher on Carney’s hawkish speech yesterday which gave the sense that a rate hike is coming sooner than we had been expecting. 1.7000 is a number that the bulls see as a relatively easy task ahead as move into next week while the range today has been between a cool 30 pips around the middle of the handle. Key Events: US producer price fall University of Michigan consumer sentiment disappointed Canadian manufacturing sales were weaker than expected Meanwhile, Spain lost 5-1 to the Netherlands – just saying! Have a good weekend. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 14, 2014 OctaFX.Com News Updates

Session recap: consolidation mode at end of a dramatic week for GBP FXStreet (Guatemala) - Markets were somewhat in consolidation mode at the end of the week and the session has been somewhat sleepy, with World Cup distractions no doubt! We prepare now for the week ahead and the FOMC, focusing o the yield differentials, but meanwhile: EUR/USD remained pretty steady after slipping to the lows of 1.3520 in sleepy markets bar some of the short covering up to 1.3540. Markets attention will likely revert back to the interest yields ahead of the FOMC next week although today’s upset for the EZ from Italy in respect of short falls in bank capital is a reminder of the euro crisis in the background. USD/JPY was a non-event and very quiet post yesterday’s gains. GBP/USD was in consolidation mode after the bulls took the pair higher on Carney’s hawkish speech yesterday which gave the sense that a rate hike is coming sooner than we had been expecting. 1.7000 is a number that the bulls see as a relatively easy task ahead as move into next week while the range today has been between a cool 30 pips around the middle of the handle. Key Events: US producer price fall University of Michigan consumer sentiment disappointed Canadian manufacturing sales were weaker than expected Meanwhile, Spain lost 5-1 to the Netherlands – just saying! Have a good weekend. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 14, 2014 OctaFX.Com News Updates

Trying to gauge the impact of the ECB – Rabobank FXStreet (Guatemala) - Analysts at Rabobank explained that for months there has been speculation as to what reaction a negative deposit rate from the ECB would have. Key Quotes: “It is still very early days the past couple of sessions have offered a little insight”. “Unsurprisingly overnight deposits at the ECB plunged to their lowest level since 2011 on the first day the negative rate took effect. Deposits by Eurozone banks totalled a meagre EUR13.6 bln down EUR25 bln from the previous day (though banks deposited an additional EUR16.7 bln in their current accounts held at the national central banks)”. “At least one bank has made the announcement that it will no longer deposit surplus cash at the ECB, although it seems likely that many international banks have had a strong incentive to swap into alternative currencies since the deposit rate was pushed down to zero”. “While it is difficult to drawn firm conclusions as to any changes in banks’ behaviour at this stage, money market rates have pushed lower as a consequence of the ECB action to levels well below last month’s average and the yield on Germany’s 2 year note has hit its lowest level in a year”. “The reaction in interest rates has led to talk of the EUR potentially being used as a funding currency for carry trades. However, in a region as complex as the Eurozone, the term ‘carry trade’ should be used with caution. Positive ‘carry’ on peripheral bond yields has been fundamental to EUR resilience since late 2012”. “The ECB’s threat that QE could yet be invoked could therefore lend the EUR support if it increased demand for bonds. The ECB will be aiming to engineer a fall in net demand for the EUR through the changes in monetary policy instruments”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 13, 2014 OctaFX.Com News Updates

Policy rate cut limits MXN appreciation potential - UBS FXStreet (Córdoba) - The UBS analyst team observes that the recent policy rate cut by the Mexican Central Bank limits the appreciation potential of the Mexican peso (MXN). Key Quotes "The recent policy rate cut by the Mexican central bank limits the appreciation potential of the Mexican peso, in our view". "Meanwhile, faster growth and inflows from foreign direct investments, triggered by the implementation of recently approved reforms, are expected to remain supportive factors". "Still, we trim our benign view on the Mexican peso somewhat and therefore revise our three, six and 12-month forecasts to 12.9, 12.9 and 12.7, respectively, from 12.7, 12.7 and 12.5 previously". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 13, 2014 OctaFX.Com News Updates

Poland M3 Money Supply (YoY) fell from previous 5.4% to 5.3% in May Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 13, 2014 OctaFX.Com News Updates

United States Producer Price Index ex Food & Energy (YoY) came in at 2%, below expectations (2.3%) in May Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 13, 2014 OctaFX.Com News Updates

United Kingdom CB Leading Economic Index increased to 0.5% in April from previous 0.3% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 13, 2014 OctaFX.Com News Updates

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USD/JPY stuck around 102.00 - FXStreet FXStreet (Barcelona) - FXStreet Chief Analyst Valeria Bednarik notes that USD/JPY remains stuck around the 102.00 level, having been unable to move anywhere far over the last 24 hours. Key quotes “The hourly chart shows 100 SMA crossing to the downside 200 one both above current price, while indicators head lower in neutral territory.” “In the 4 hours chart a mild bearish tone prevails, albeit showing no directional strength, as indicators stand flat in negative territory.” “Break below 101.70 is now required to confirm a leg lower, eyeing the 101.20/30 price zone.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 12, 2014 OctaFX.Com News Updates

United States EIA Natural Gas Storage change below expectations (111B) in June 6: Actual (107B) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 12, 2014 OctaFX.Com News Updates

United States Business Inventories above expectations (0.4%) in April: Actual (0.6%) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 12, 2014 OctaFX.Com News Updates

India Industrial Output rose from previous -0.5% to 3.4% in April Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 12, 2014 OctaFX.Com News Updates

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AUD/USD fails to hold above 0.9400 FXStreet (Córdoba) - The AUD/USD made an appearance above 0.9400 at the beginning of the American session but failed to sustain gains for long and pulled back slightly. The AUD/USD briefly rose above the 0.9400 mark and scored a fresh 1-month peak of 0.9405 before sliding back to the 0.9385 zone, where it holds onto a 0.14% gain on the day. The AUD/USD has risen 6 out of the 8 trading days of June, printing higher highs on daily basis, helped by carry trades flows. AUD/USD technical perspective Valeria Bednarik, chief analyst at FXStreet notes that short-term technical indicators are losing their bullish strength, but she notes that “only below 0.9360 the pair will come under some selling pressure, while steady gains above 0.9400 are required to confirm an advance up to 0.9460 this year high”. Bednarik locates next resistance levels at 0.9390, 0.9430 and 0.9460, while supports are seen at 0.9360 0.9325 0.9290. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 11, 2014 OctaFX.Com News Updates

GBP/USD rally stalls a few pips below 1.6800 - FXStreet FXStreet (Barcelona) - As FXStreet Chief Analyst Valeria Bednarik observes, the GBP/USD rally stalled a few pips below the 1.6800 figure after better than expected UK employment reading gave Pound a lift across the board. Key quotes “The hourly chart shows the strong upward momentum prevails as per indicators heading north above their midlines, and price steady above a mild bullish 20 SMA currently around 1.6750.” “In the 4 hours chart price was unable to extend beyond its moving averages 20 SMA and 200 EMA, both converging in the 1.6790 price zone while indicators lost upward strength around their midlines. ” “Critical resistance stands around 1.6820, yesterday’s high and the daily descendant trend line coming from this year high. Only above this level the pair will be able to extend its rally, looking then for a test of 1.6860 price zone.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 11, 2014 OctaFX.Com News Updates

EUR/USD unable to attract buyers limited below 1.3570/80 price zone - FXStreet FXStreet (Barcelona) - FXStreet Chief Analyst Valeria Bednarik EUR/USD remarks that EUR/USD bounced some after posting a daily low of 1.3521, still unable to attract buyers limited below 1.3570/80 price zone, former lows and immediate resistance. Key quotes “The hourly chart shows price above its 20 SMA but indicators turning flat around their midlines, loosing early upward momentum.” “In the 4 hours chart indicators aim slightly higher from oversold levels, supporting current upward corrective movement, albeit 20 SMA maintains a strong bearish slope, offering dynamic resistance also around 1.3580.” “With no much news to move the pair, market players are keeping their eyes on yields differentials and stocks, the first shrinking the second falling.” OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 11, 2014 OctaFX.Com News Updates

United States EIA Crude Oil Stocks change came in at -2.596M below forecasts (-1.3M) in June 6 Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 11, 2014 OctaFX.Com News Updates

US Treasury Secretary: Pace of US economic recovery too slow FXStreet (Barcelona) - In a speech delivered before the New York Economic Club US Treasury Secretary Jack Lew said that the US economy was improving but that the pace of economic growth was still unsatisfactory and that unemployment remained excessively elevated. "The ultimate test for all of us will be how inclusive tomorrow’s economy becomes and how widely our economic gains flow," he said. "The crisis we face today is the need to make sure the economy is expanding fast enough to support a growing middle class." Lew urged employers to give long-term unemployed a fair chance. Furthermore, he stressed the need for an increase in infrastructure spending and for an overhaul of the tax code. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page June 11, 2014 OctaFX.Com News Updates