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Forex Flash: Fed locked in to current strategy despite US economy – UBS FXstreet.com (Barcelona) - Q3 policy-driven price action in gold brings us to an interesting point. Since Q4, the Fed's balance sheet has been expanding again but gold has not responded in the usual 'debasement' manner. According to Research Analyst Gareth Berry at UBS, “Initially, this was attributed to better US data and stable inflation expectations (or easing disinflationary pressures). Such factors are indeed negative for gold and a stronger dollar is a part of this (self-fulfilling) process.” The first week of April witnessed a massive dose of (potential) liquidity provision from the Bank of Japan, while weakening data out of the US is also pointing to shifts in policy expectations again for the Fed. In addition, if emerging markets are indeed weakening, then stimulus either through rates or outright quantitative policy (such as FX-intervention) can be expected. All of these factors should have proven to be positive for the yellow metal. Again, points to other factors at play such as positioning. “However, if we look at the broader policy picture, then perhaps the move in the gold price is telling markets something far more pernicious: Central Bank activism has failed. Simply put, even if the US' economy is weakening further, it is hard to see what the Fed can do beyond their current actions.” Berry adds. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 16, 2013 OctaFX.Com News Updates

Forex: USD/CHF falls back to weekly lows FXstreet.com (Córdoba) - After being rejected by the 0.9325 area, USD/CHF resumed the downside and retested this week's lows, although the Swissy lacked strength enough to drag the cross below the 0.9260/65 support zone. USD/CHF has been seesawing within the 0.9265/0.9340 range over the last days, unable to set fresh direction. Having hit a daily low at 0.9265, roughly the same level than yesterday, the pair is currently trading around 0.9270/75, still 0.4% below its opening price. As for technical levels, the Mataf.net analyst team locates immediate supports at 0.9265, 0.9240 and 0.9200, while they see resistances at 0.9290, 0.9330 and 0.9365. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 16, 2013 OctaFX.Com News Updates

Forex Flash: CBRT surprises with wider rate cut than expected, by 50bp to 5% - TD Securities FXstreet.com (Barcelona) - TD Securities analysts reported the widely expected repo rate cut by the CBRT decided at their April 16th meeting. “They cut 50bp to 5.00% instead that 25bp we and the consensus had expected. The CBRT also slashed the overnight rate corridor (both lending and borrowing rates) by 50bp, in line with our forecast (consensus looked for -25bp on the lending rate and -50bp for the borrowing rate)”, wrote analyst Cristian Maggio, considering it a strong message to the market that short-term rates should be lower, hence the lira weaker. “The market was positioned for a dovish outcome, but the combined CBRT measures came in even more loose than expected”, continued Maggio, adding that the CBRT also decided to withdraw additional liquidity by increasing the ROCs by 0.2 on all tranches but the first one of FX reserves commercial banks hold at the CBRT. “The effect should be $1.4bn of liquidity drained from the market”, he concluded. In regard to the FX market, the USD/TRY had a kneejerk spike to 1.7986, but as the pair failed to break the psychological level of 1.80, it is now retracing at the pre-announcement levels. “However, we continue to consider the lira as rich against USD and EUR at these levels. Surprisingly enough, the TRY REER moved below 120 to 119.58 after the CBRT’s announcement”, wrote the TD Securities analyst. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 16, 2013 OctaFX.Com News Updates

Forex: USD/JPY still failing at 98.00 FXstreet.com (Barcelona) - The market retracement seen during the Asian and European session after the drop to 95.83 low failed to extend above the 98.00 handle as it peaked at 98.01 high and has been quoting just below that area despite several attempts. The economic calendar will provide an interesting load of data from the US, including the CPI report, Housing Starts and Industrial Production. “We expect headline CPI to rise by +0.1%/mth, following the chunky +0.7% rise the month before. On an annual basis, favorable base effects lower the rate from 2.0% to 1.7%/yr (mkt 1.6%)”, wrote TD Securities analyst Annette Beacher, expecting also a relatively subdued Core CPI, at +0.2%/mth and 1.7%/yr (mkt 2.0%). According to Fxbriefs.com analyst Peter Jackson, Philadelphia Fed’s Plosser said he would be uncomfortable saying the Fed won’t engage in asset sales, but he would like to see it happen in an eventual exit from the current Fed stimulus program and the central bank should return to use Fed funds rate as the policy instrument. Also, he wishes to shrink the balance sheet as well as short the duration of our portfolio in all treasuries. “Hourly indicators are pointing higher, though still in the negative zone, as 55 day EMA caps the upside, while 4h indicators hold negative tone so far does not give much upside potential, unless the price clearly breaks above 98.00/30 barriers that may ease still existing bear-pressure”, wrote Windsor Brokers analyst Slobodan Drvenica, pointing to resistance at 97.89, 98.25 and 98.70, while supports are at 97.27. 97.00 and 96.60. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 16, 2013 OctaFX.Com News Updates

European Commission intends to advance Cyprus structural payments FXstreet.com (Barcelona) - Recently in a letter to Cypriot President Nicos Anastasiades, President of the European Commission Barroso has extended monetary assistance in advancing the future of the EU budget to Cyprus. In particular, the European Commission – through the letter to Barroso – has proposed an advance payment of the proposed budget for Cyprus for 2014-2020 in effect aiming to ease the island's economy. Barroso also offered more competitive rates than before the turmoil, and could increase the amount of funds provided to the island over the next seven years, which are now estimated at 945 million euros. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 16, 2013 OctaFX.Com News Updates

OctaFX Champion Demo Contest Current Update of OctaFXChampion Demo Contest! Just few hours left to the end of this round and currently our top contestant Adiz from Indonesia has piled up with Equity $55 159.03. So, let see who will grab the opportunity and be the winner. Contest rules and regulations Start Now! Start your successful trading with OctaFX today Please stay tuned for the news and updates from OctaFX! Wishing you luck and profitable trading, yours truly, OctaFX!

Forex: EUR/USD remains trapped in a range FXstreet.com (Córdoba) - The euro continues to trade within today's range against the dollar, consolidating above 1.3050 and holding up pretty well despite broad risk aversion. EUR/USD started the week above 1.3100, but slowly retreated throughout the day before finding support at 1.3051 during the European session but with the subsequent bounce being capped by 1.3107, the cross was confined to a tighter range. At time of writing, EUR/USD is trading around 1.3070, where it is 0.3% below its opening price. From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that technical readings hold a neutral stance in 4-hour chart, and points out that as long as EUR/USD ranges within 1.3040/1.3120 it will remain trendless. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 15, 2013 OctaFX.Com News Updates

US markets retreat on China, gold increases the sell-off FXstreet.com (Barcelona) - Shares in the US markets are submerged into the red territory on Monday, following the sharp sell-off in the gold market and the disappointing data from the Chinese GDP during the first quarter, growing 7.7% on a yearly basis vs. 8.0% expected. The US Dollar Index is posting marginal gains in the area of 82.40/45, as markets are slightly biased towards safer assets. DowJones is losing 1.06%, followed by the S&P500 and the Nasdaq, down 1.39% and 1.57%, respectively. Bourses in Euroland closed in a ‘sea of red’ on Chinese data. In addition, the wave of selling orders in the precious metal took a toll on the miners, dragging the indices lower. The FTSE100 led the losers, falling 0.64%, followed by the CAC40, 0.50% and the DAX, 0.41%. The single currency keeps the 1.3070/1.3100 range on Monday, with China as the leitmotif and proving unable to break above the 1.3110/15 area. In the commodities realm, the precious metal is tanking 8.41% at $1,375 and the barrel of WTI is following suit, retreating 2.66% at $88.86. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 15, 2013 OctaFX.Com News Updates

Forex: EUR/GBP upside capped by 0.8550 FXstreet.com (Barcelona) - The pair is posting marginal losses on Monday, trading around 0.8545/50 although failing to break above 0.8550 so far. Both the single currency and the sterling are suffering the increasing selling interest in the risk-related assets since Chinese GDP figures during the first quarter have disappointed investors this early morning. “The market remains upside corrective and we look for the near term rebound from the .8417 low to test the 55 day ma at .8583. There is scope for a move to the top of its cloud at .8646 currently, where we look for the up move to falter”, commented Karen Jones, Head of FICC Technical Analysis at Commerzbank. At the moment, the pair is losing 0.04% at 0.8544 with the next support at 0.8512 (MA10d) followed by 0.8495 (low Apr.12) and finally 0.8464 (low Apr.8). On the flip side, a breakout of 0.8560 (high Apr.10) would aim for 0.8565 (high Mar.25) and then 0.8570 (high Mar.21). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 15, 2013 OctaFX.Com News Updates

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Forex: AUD/USD dips to lows around 1.0530 FXstreet.com (Barcelona) - The Aussie dollar is printing fresh intraday lows in the boundaries of 1.0530 on Friday, as risk version is now reining in the markets. “Current AUD levels still leave the currency above where we were in the immediate aftermath of yesterday’s weak local employment data (1.0510) with the slightly heightened prospects of the RBA coming back to the easing table doing no real harm at this stage”, commented analysts at NAB. At the moment, the cross is down 0.12% at 1.0532 with the immediate support at 1.0524 (broken trendline) followed by 1.0515 (hourly high/lows Apr.11) and finally 1.0500 (low Apr.11). On the upside, a breakout of 1.0583 (high Apr.11) would aim for 1.0599 (high Jan.10) ahead of 1.0625 (high Mar.20). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 12, 2013 OctaFX.Com News Updates

OctaFX Champion Demo Contest Current Update of OctaFXChampion Demo Contest! Just few hours left to the end of this round and currently our top contestant AwakAceh from Indonesia has piled up with Equity/Balance $28 587.58. So, let see who will grab the opportunity and be the winner. Contest rules and regulations Start Now! Start your successful trading with OctaFX today Please stay tuned for the news and updates from OctaFX! Wishing you luck and profitable trading, yours truly, OctaFX!

Strong demand at Italian debt auction FXstreet.com (Barcelona) - The Italian Treasury held a debt auction on Thursday during which it sold a total of 7.169 billion euro worth of 3- year bonds and CCTEU notes, exceeding the maximum target of 5.5-7.5 billion euros. The 3-year bonds were auctioned at an average yield of 2.29%, compared with 2.48% seen at the previous auction. This is the lowest yield since January. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 11, 2013 OctaFX.Com News Updates

Forex: EUR/SEK dips to session lows on higher CPI FXstreet.com (Barcelona) - The Swedish krona is posting strong gains against the single currency on Thursday, after the Nordic consumer prices advanced 0.4% on a monthly basis, exceeding estimates. Over the last twelve months, prices came in flat, leaving behind the previous contraction of 0.2%. In the opinion of Erica Blomgren, FI Strategist at SEB, “the recent advance of 2% in house prices during March would point to a hawkish bias from the Riksbank”, ahead of its next meeting. At the moment, the pair is down 0.30% at 8.3345 with the next support at 8.3095 (low Apr.3) en route to 8.3051 (low Apr.2) and then 8.2840 (low Mar.27). On the other hand, a surpass of 8.3910 (high Apr.10) would open the door to 8.4457 (high Apr.4) and finally 8.4585 (high Mar.25). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 11, 2013 OctaFX.Com News Updates

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Forex: USD/JPY rises to test 99.80, new 4-year highs FXstreet.com (San Francisco) - The US dollar is extending further its advance against the Japanese yen with the pair gaining around 40 pips in the latest couple of hours from 99.40 to reach the highest level since April 2009 at 99.80. Currently the USD/JPY is trading at 99.65. With 0.67% gains on the day, the USD/JPY is trading slightly bullish according to the FXstreet.com trend index. Indicators such as CCI, Momentun and MACD are pointing bullish while the Stochastic is bearish in the 1-hour chart. Valeria Bednarik, chief analyst at FXstreet.com, notes that the pair holds a positive bias with 100.00 at sight. Bednarik locates next resistances at 99.80, 100.00 and 100.45, while supports are seen at 99.50, 99.10 and 98.80. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 10, 2013 OctaFX.Com News Updates

Forex: EUR/USD keeps the lows around 1.3055/60 FXstreet.com (Barcelona) - The single currency is closing the session in red on Wednesday, hovering over intraday lows around 1.3055/60 in a context dominated by the risk aversion. Looking into Thursday’s calendar, consumer prices in Germany and France will precede the ECB Monthly Report ahead of 3-year bond Italian auction. In the US economy, Imports/Exports Prices are due as well as the weekly report on the labour market. At the moment EUR/USD is down 0.19% at 1.3057 with the next support at 1.3006 (low Apr.9) ahead of 1.2963 (low Apr.8) and finally 1.2928 (MA10d). On the upside, a breach of 1.3135 (high Mar.8) would expose 1.3163 (high Feb.28) and then 1.3229 (50% of Feb-Apr slide). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 10, 2013 OctaFX.Com News Updates

USD muted after FOMC minutes FXstreet.com (Córdoba) - In an unusual move, the Federal Reserve released the minutes from its March 19-20 meeting earlier than scheduled. However neither the surprise nor the content had much effect on the US dollar, which trades overall mixed across the board. Minutes showed members disagreed on the appropriate timing to start withdrawing QE. Several participants saw asset purchases slowing later in the year and stopping by year-end, while some saw a reduction in purchases at about midyear. Meanwhile, broad risk appetite, which saw the S&P 500 reach yet another all time high, boosted commodity currencies and other risk trades, but the shared currency failed to benefit from the positive mood. Despite recent advance, the euro remains threatened by reality in the eurozone. Economic indicators are not improving, and like they were in a cue, one by one members come under the market's spotlight and scrutiny, with Slovenia now gaining attention. Against the yen, the greenback continues to approach the major 100.00 area as the BoJ ultra loose policy it's taking its toll on the Japanese currency. Euro fails to hold above 1.3100 Technically speaking, even though the outlook begins to turn slightly negative in short-term charts, EUR/USD holds a positive tone in bigger time frames. Still the 1.3140/50 area (the 100– and 50– day moving averages) is the more important resistance level to overcome to confirm an upward continuation with 1.3200 as next target. On the other hand, loss of the 1.3000 mark (psychological level/100-hour SMA) could increase pressure on the cross and see a deeper correction. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 10, 2013 OctaFX.Com News Updates

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Forex: NZD/USD hits 2-month high FXstreet.com (Córdoba) - The Kiwi dollar extended gains versus its US counterpart in a bout of risk appetite and posted a fresh 2-month high above 0.8500 ahead of the New York opening. NZD/USD has gained over 50 pips throughout the day and recently reached its highest level since Feb 15 at 0.8512. At time of writing, the cross is trading around 0.8505/10, recording a 0.6% advance since opening. On the upside, 2013 high set back in February at 0.8532 could offer resistance, followed by 0.8570 (Aug 31 2011 high). On the other hand, supports are seen at 0.8465 (intraday level) and 0.8450 (Apr 3 high). OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 09, 2013 OctaFX.Com News Updates

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Forex Flash: NZD/JPY heads towards 89.00 - BNZ FXstreet.com (Barcelona) - As ‘carry trade’ activity picks up through dumping the Yen to buy higher yielding offshore assets, the NZD/JPY seems to be heading towards 89.00 by year-end, says Mike Jones, Currency Strategist at BNZ. "The trend for a weaker JPY shows no sign of slowing down and we have bumped up our year-end NZD/JPY forecast to 89.00. The risk is for an overshoot" says Mr. Jones. OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page Apr 09, 2013 OctaFX.Com News Updates