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GBP/JPY hovering around 171.50 FXStreet (Córdoba) - The GBP/JPY is consolidating above 171.00 after soaring on Wednesday and still holds some bullish momentum. During the Asian session the pair reached a fresh weekly high at 171.86, extending the gains extending the rally that started yesterday at 169.75. On European hours the Pound lost momentum across the board pushing the GBP/JPY to the downside. Price found support at 171.20 and bounced to the upside. Currently is testing levels above 171.50, attempting to approach daily highs GBP/JPY range-bound On a wider perspective price continues to move in a range, with a slightly upside bias but facing strong resistance around 173.50; and below here at 172.00. To the downside, price has been rejected from levels under 170.00. The support to the current range lies at 169.40 and then 167.70 OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 22, 2014 OctaFX.Com News Updates

EUR/USD: Downtrend remains intact - UBS FXStreet (Córdoba) - The UBS analyst team notes that the downtrend in EUR/USD remains intact, with worries about the European elections next weekend weighing on the currency. Key Quotes "The Eurozone current account fell further, confirming our view that the stabilization in Spain, Italy and other peripheral countries brings stronger import demand and reduces the support for the euro". "The fall of EUR/USD during the Wednesday trading session was however more driven by worries about the European elections next weekend and other soft factors. Nevertheless, it is a nice confirmation that the downtrend in EUR/USD remains intact". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 22, 2014 OctaFX.Com News Updates

United Kingdom CBI Industrial Trends Survey - Orders (MoM) registered at 0, below expectations (4) in May Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 22, 2014 OctaFX.Com News Updates

USD/JPY a drop to 100.76 is not ruled out - UOB FXStreet (Barcelona) - The Market Strategy Team at UOB Group does not discard another bearish attempt to the key area of 100.75. Key Quotes "The low of 100.81 low yesterday was just a few pips shy of our 100.75 target. While the mid-term outlook still appears to be bearish, the short-term downward momentum has waned considerably with the strong rally from the low". "Expect choppy short-term trading in the next 1-2 days but as long as the key resistant at 102.10 is not taken out, we are not ruling out another stab lower towards 100.75". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 22, 2014 OctaFX.Com News Updates

USD/JPY a drop to 100.76 is not ruled out - UOB FXStreet (Barcelona) - The Market Strategy Team at UOB Group does not discard another bearish attempt to the key area of 100.75. Key Quotes "The low of 100.81 low yesterday was just a few pips shy of our 100.75 target. While the mid-term outlook still appears to be bearish, the short-term downward momentum has waned considerably with the strong rally from the low". "Expect choppy short-term trading in the next 1-2 days but as long as the key resistant at 102.10 is not taken out, we are not ruling out another stab lower towards 100.75". OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 22, 2014 OctaFX.Com News Updates

USD/CHF is disillusioned at 0.8950 resistance FXStreet (Moscow) - USD/CHF plunged from the resistance level of 0.8950 to its current lows of 0.8928 PMI to digest The yesterday’s weakness of the euro gave the pair another reason to rise, and proved the still strong correlation between the EUR and CHF moves. Today, the pair may get some more catalysts to move on, as the EMU data is scheduled for release. The market is closely watching any new evidence of fragile recovery in euro zone, thus, any indication of weakness in core or periphery economies may support the demand on USD/CHF with initial target at 0.8950 resistance. What are today’s key USD/CHF levels? Today's central pivot point can be found at 0.8932 with support below at 0.890978, 0.8862 and 0.8827, with resistance above at 0.8967, 0.9002, and 0.9037. Hourly Moving Averages are bullish, with the 200SMA at 0.8905 and the daily 20EMA bullish at 0.8867. Hourly RSI is bullish at 56. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 22, 2014 OctaFX.Com News Updates

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USD/CAD looking firmer - TD Securities FXStreet (Guatemala) - Shaun Osbourne, Chief FX Strategist at TD Securities suggested that the USD/CAD is tracking a slightly firmer profile. Key Quotes "USD/CAD is tracking a slightly firmer profile, with the USD maintaining gains above short-term technical resistance in the upper 1.08s seen over the past 24 hours. USD/CAD may not be inclined to move too far today, with key domestic data out later in the week but cross flows may have a pull on the market to some degree. For example, CAD/JPY weakness looks poised to extend back towards the 91 area we think, and may help boost USD/CAD to some degree." "Generally, we think USD/CAD is in a better technical place after last week's consolidation. The lack of downside follow-through interest below the mid/upper 1.08s suggests to us that, from a technical perspective at least, the bear pressure on the USD is moderating at the moment. Gains above trend resistance off the March peak imply a firmer technical trend may be developing at the very least." "More broadly, the topside break out from the narrowing consolidation range (bull wedge pattern) that has been developing over the past few months is inherently bullish and signals that the broader USD bull trend is trying to get back on track." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 21, 2014 OctaFX.Com News Updates

EUR/JPY bounces from 14-week lows FXStreet (Córdoba) - The EUR/JPY slipped further before Wall Street opening and bottomed at 138.13 reaching the lowest price since February 6. Afterwards rebounded as the Yen pulled back across the board and managed to rise back above 138.50, trimming losses. Currently the pair trades at 138.66, down 0.15% from today’s opening price. The Euro is headed toward the lowest daily close since early February and has been able to rise only in two days out of the last two weeks. EUR/JPY technical outlook The bias continues to point toward the downside particularly after consolidating below 140.00. Some technical indicators show oversold conditions but so far no major signs of a bullish correction has emerged. To the downside support levels might lie between 138.00 and 138.15 and below here at 137.50 (January 31 low). To the upside, immediate resistance lies at 138.70 (American session high) and then 139.40. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 21, 2014 OctaFX.Com News Updates

Latin America EM Express: Brazil's inflation cools to a 6-month low in May Brazil's Mid Month Inflation growth decelerated to the slowest pace seen since November, according to data published on Wednesday. This is good news for Brazil's central bank which will be able to stop hiking the benchmark rate for now, currently at 11%, in the face of price pressures remaining under control in the last two months. Brazilian CPI slowed to 0.58% in May, following a 0.78% rise seen previously, Instituto Brasileiro de Geografia e Estatistica said on Wednesday. The deceleration was attributed to an easing of increases in foodstuffs' prices. Year-on-year inflation climbed slightly to 6.31% from 6.19%. Meanwhile, Mexican Retail Sales surprised to the upside, rising by 0.8% in March, compared with the 1.3% fall in February and against consensus of a 0.2% decline. Year-on-year Retail Sales jumped 1.7%, following a 1.7% drop and against forecasts of a 1.5% decrease. Technicals At the moment of writing USD/BRL was down 0.14% at 2.2075. On Tuesday the USD/BRL daily FXStreet Trend Index was strongly bearish, with the OB/OS Index neutral. RSI was at 45 at the last close, and has slid to 40 so far today. Daily 2-StDev Volatility Bandwidth was shrinking at 97 pips, with ATR (14) shrinking at 183 pips. The 1D 200 SMA was at 2.3019, while the 1D 20 EMA was at 2.2249. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 21, 2014 OctaFX.Com News Updates

USD/JPY turns intraday positive FXStreet (Córdoba) - The USD/JPY is staging a strong comeback, having turned intraday positive, supported by higher US yields. The USD/JPY has risen more than 70 pips over the last hours, recovering from a 3-month low of 100.82 scored on the back of Kuroda comments as the BoJ Governor sounded pretty optimistic in its post-meeting presser. He said positive cycle in the economy is working and the QE is having the intended effect. However, the yen lost momentum and surrendered gains across the board. At time of writing, the USD/JPY is trading at the 101.50 area, up 0.2% on the day, having hit a peak of 101.55 in recent dealings. USD/JPY technical levels In terms of technical levels, the USD/JPY could find next supports at 100.7 (2014 low Feb 4), 100.62 (50% retracement of 95.80/105.45) and not much till 100.00. On the flip side, resistances are seen at 101.55 (10-day SMA) and 101.66 (May 16 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 21, 2014 OctaFX.Com News Updates

United States EIA Crude Oil Stocks change below expectations (-0.1M) in May 16: Actual (-7.226M) Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 21, 2014 OctaFX.Com News Updates

USD/CHF jumps to nearly 1-week highs at 0.8955 FXStreet (San Francisco) - The USD/CHF is trading higher on Wednesday as the pair is joining its negative correlation with the EUR/USD that is testing key 1.3650 level. After jumping around 60 pips in the day from 0.8895, the USD/CHF is pricing at its highest level since May 15 at 0.8955. Currently, USD/CHF is trading at 0.8946, up 0.29% on the day, having posted a daily high at 0.8956 and low at 0.8897. The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish. USD/CHF levels According to Matt Bacon-Hall, FXBeat Editor, the important levels to follow in the USD/CHF are 0.8950 (I would expect offers 0.8945-50 playing just ahead of the prior high...also check the hourly time frame… there is a corrective structure unfolding which terminates at 0.8950) and 0.8958 (High of A=C....naturally I would expect covering above here). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 21, 2014 OctaFX.Com News Updates

Mexico Retail Sales (YoY) rose from previous -1.7% to 1.7% in March Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 21, 2014 OctaFX.Com News Updates

OctaFX - US Memorial Day trading schedule! Dear traders, OctaFX Technical Department would like you to be informed that due to the coming Memorial Day on May 26, we have altered a trading schedule for XAU/USD and XAG/USD trading instruments. Please, consider the following schedule while planning your trading*: Monday, May 26, 2014 the trading on the above mentioned instruments closes at 20:00 (EEST, Server Time) and re-opens Tuesday, May 27, 2014 at 1:00 (EEST, Server Time). For your convenience, we provide you with this timetable: * Memorial Day hours are not final and are subject to change. Please, consider the fact that any open trades upon closure of trading hours will be rolled into the next day. We would like to apologize for any inconvenience caused. Please, contact our Customers Support in case you have any questions. If any failures occur, please report immediately to [email protected] Thank you for choosing OctaFX as your top-notch Forex Broker. Open account today and enter the world of requote-free trading and the fastest execution! Join OctaFX today![/size] Please stay tuned for the news and updates from OctaFX! Wishing you luck and profitable trading, yours truly, OctaFX!

USD/CHF hovering around 0.8920 FXStreet (Córdoba) - The USD/CHF peaked during the European session at 0.8937, reaching the highest price since last Thursday but then lost momentum and pulled. After Wall Street opening bottomed at 0.8913 but then bounced slightly to the upside. Currently trades at 0.8920, around the same price it closed yesterday. The USD/CHF remains steady moving in a small trading range between daily lows and under 0.8925. USD/CHF levels To the upside, short term resistance might lie at 0.8925 (intraday level), 0.8935/45 (daily high) and 0.8960. To the downside support could be located at 0.8910/15 (daily low) followed by 0.8900 and 0.8880. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 20, 2014 OctaFX.Com News Updates

GBP/USD keeps the bid tone near 1.6850 FXStreet (Edinburgh) - The buying interest remains intact around the sterling on Tuesday, with the GBP/USD meandering around the 1.6845/50 region. GBP/USD capped by 1.6870 Spot found decent support around the 1.6800 handle, although it could not follow through the area of 1.6870 after UK consumer prices surprised investors to the upside in April. In the meantime, the pair is trading well above the 1.6800 barrier ahead of tomorrow’s BoE minutes. Senior FX Strategist at RBS Paul Robson commented, “Last week we highlighted the shooting star candle and said the risk was for a test into the 1.6775/1.6820 support area (previous resistance), and maybe at a push we might see 1.65/1.66 at some stage”. GBP/USD levels to watch As of writing the pair is up 0.18% at 1.6843 with the next resistance at 1.6875 (high May 14) followed by 1.6883 (high May 13) and then 1.6903 (high May 12). On the flip side, a breakdown of 1.6802 (low May 20) would target 1.6784 (low May 16) en route to 1.6732 (low May 15). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 20, 2014 OctaFX.Com News Updates

Latin America EM Express: Brazilian real drops on geopolitical tensions FXStreet (Łódź) - Geopolitical tensions stemming from the continuing Russian-Ukrainian conflict as well as the declaration of martial law in Thailand on Monday, weighed on emerging market currencies including the Brazilian real which fell on Tuesday by 0.4% to 2.2164 against the dollar early in Sao Paulo. Economic data Argentinian Unemployment rate disappointed on Monday, rising on a quarterly basis to 7.1% in Q1, from 6.4% in Q4 and considerably above forecasts of an increase to 6.7%. Chilean annual GDP data on the other hand was positive, showing 2.6% growth in Q1, down from 2.7% recorded in Q4 but above expectations of +2.4%. According to the BBVA Bancomer team of analysts: “Recent data validate both our GDP growth expectation for 2014 (at 3.4%) and our assessment of the necessity of further monetary stimulus during this year (policy rate at 3.25% in eop), although this will remain data dependent, particularly over CPI inflation figures.” Technicals At the moment of writing USD/BRL was up 0.02% at 2.2155. On Monday the USD/BRL daily FXStreet Trend Index was strongly bearish, with the OB/OS Index oversold. RSI was at 41 at the last close, and has climbed to 51 so far today. Daily 2-StDev Volatility Bandwidth was shrinking at 98 pips, with ATR (14) shrinking at 191 pips. The 1D 200 SMA was at 2.3024, while the 1D 20 EMA was at 35.1975. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 20, 2014 OctaFX.Com News Updates

ECB's Liikanen: Asset purchase program could be implemented if deflation risks rise FXStreet (Łódź) - ECB Governing Council member Erkki Liikanen said on Tuesday that, should the need arise, the central bank could implement various easing measures at the upcoming meeting, such as a broad-based asset-purchases of securities. Moreover, forward guidance could be strengthened in response to an increase in the deflation risk, Liikanen suggested. In case money markets rise, the possible countermeasures include finalizing SMP sterilization, adjusting the rate corridor, reducing rates or carrying out long-term lending operations. Conducting lending operations or bypassing banks in funding would be appropriate in case of a considerable reduction in bank lending, the ECB policymaker added. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 20, 2014 OctaFX.Com News Updates

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EUR/USD back from highs FXStreet (Edinburgh) - After hitting fresh intraday highs beyond 1.3730, the EUR/USD is now deflating to the 1.3720/15 area on Monday. EUR/USD keeps the bid tone Despite a choppy session, spot is managing well to keep the trade above the 1.3700 handle, although it lacks conviction to climb further. Nothing of note in the data universe, with Construction Output in the bloc contracting 0.6% inter-month in March and the Spanish trade deficit widening to €2.05 billion in April. “The broader shape of recent price moves suggests to us that an important top/reversal is unfolding in EURUSD around the 1.40 zone as the rising wedge-like shape to the pattern of trade over the past year implies a rally that is losing momentum”, assessed Shaun Osborne, Chief FX Strategy at TD Securities. EUR/USD relevant levels At the moment the pair is up 0.16% at 1.3716 with the next resistance at 1.3732 (high May 15) followed by 1.3739 (100-d MA) and then 1.3771 (high May 13). On the flip side, a breakdown of 1.3685 (low May 16) would target 1.3648 (low May 15) and finally 1.3643 (low Feb.27). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 19, 2014 OctaFX.Com News Updates

Poland Corporate Sector Wages declined to 3.8% in April from previous 4.8% Read more in Forex News OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 19, 2014 OctaFX.Com News Updates

UK housing sector, a challenge for the BoE? - Investec FXStreet (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec, notes the BoE will be closely watching the developments in the housing sector. Key Quotes "The big story over the weekend was Pfizer’s renewed £69bn bid for AstraZeneca which would create the world’s largest pharmaceutical company if it goes ahead. It remains to be seen how many overtures the UK giant can resist from its American rival and as it stands, the FX markets are yet to factor in a takeover that seems increasingly likely as GBPUSD opened where we left it on Friday." "In other UK news, the rapid growth of the housing market is some cause for concern for market commentators who await to see how the Bank of England will look to take the steam out of the housing sector. BoE Governor Mark Carney, speaking to Sky news over the weekend, talked of ‘deep, deep’ structural problems in the sector and his concern that the BoE itself couldn’t build more houses. He again indicated the BoE would do what it could from its end, via the Financial Policy Committee, with adjustments to lending standards and loan limits on income mentioned." OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 19, 2014 OctaFX.Com News Updates

EUR/USD around 1.33 in 12-month – J.P.Morgan Private Bank FXStreet (Edinburgh) - Sara Yates, Global Head of FX Strategy at J,P.Morgan Private Bank, keeps the target at 1.33 for the EUR/USD in a 12-month horizon. Key Quotes “In our opinion, EURUSD is unlikely to fall much below 1.35 unless the ECB does something to aggressively reverse its shrinking balance sheet and/or US 10y yields break above 3%”. “We think there is some possibility that the ECB announces its intention to stops its drain of liquidity created by the Securities Market Programme (SMP) at the June meeting. However, we believe this would slow the speed at which the ECB’s balance sheet shrinks rather than increase it”. “We think there remains too much political resistance to launch a quantitative easing programme (which would dramatically increase the size of the balance sheet) and that US yields are unlikely to move substantially higher until Q4 2014”. “We continue to forecast EURUSD at 1.33 in 1 year”. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page May 19, 2014 OctaFX.Com News Updates