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EUR/JPY rebota en 141.00





FXStreet (Córdoba) - El EUR/JPY cayó luego de la apertura de Wall Street hasta 141.04, llegando a mínimos desde el 17 de abril.. Luego el cruce rebotó y subió hasta 141.58, pero no logró sostenerse por encima de 141.50 y actualmente opera en 141.40, lo que representa una caída del 0.17% con respecto al precio de apertura.


Panorama para el EUR/JPY


El Euro va perdiendo momento lentamente luego de haber rebotado la semana pasada desde 140.00. En la jornada de ayer el precio se aproximó a 142.00 pero viró hacia la baja.


El precio no logra alejarse de la zona de 141.50 y desde hace una semana que opera en torno a este nivel. En el camino alcista, la resistencia clave se ubica en 142.00 mientras que a la baja, el soporte a tener en cuenta en el corto plazo es 141.00.





Apr 24, 2014

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USD/JPY briefly fall below 102.00





FXStreet (San Francisco) - The US dollar extended its decline against the Japanese Yen in the latest few hours and after falling around 20 pips from 102.15, the USD/JPY made a brief trip to 1-week low of 101.95.


However, pair managed to recover the 102.00 area and currently it is trading at 102.07, down 0.24% on the day, having posted a daily high at 102.50 and low at 101.95.


The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.


USD/JPY levels


If the pair lost the 102.00 area, it would face next supports at 101.95, and 101.85. On the downside, resistance at 102.10, 102.25 and 102.50.






Apr 25, 2014

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Fitch Upgrades Spain to 'BBB+' as fiscal track record is strong



FXStreet (San Francisco) - Fitch Ratings decided to upgrade Spain sovereign rating to 'BBB+' from 'BBB' as the Kingdom's "risks to Spain's creditworthiness have decreased since the sovereign was downgraded" in June 2012.


In addition, the agency affirmed the Spain's "fiscal track record over the past two years has been strong," as "its headline fiscal deficit (excluding bank support) declined by 2.5% of GDP in 2012-13, despite a 2.2% drop in nominal GDP over the same period."


All about excluding bank support in official accounts and that Fitch doesn't expect that early parliamentary elections will not be called before 2015. Debt ratio to peak at 104% of GDP in 2016.


Key quotes:


We project that public debt will peak in 2016 at 104% and decline gradually thereafter, assuming an effective interest rate close to current levels.


The general government deficit remains large, which we forecast at 5.7% of GDP for 2014. Public debt/GDP has risen 11pp per year on average since 2008 and we expect the ratio to peak at 104% of GDP in 2016.


Medium-term forecasts assume some slippage relative to official public deficit targets. The agency maintains its potential growth assumption of 1.5% in the second half of the decade.


Banking sector risks have been adequately captured by the authorities in the context of the 2012-13 financial-sector reform programme (supported by the European Stability Mechanism, ESM) and that additional capital injections required from the Spanish sovereign will not be large.


We assume no official debt relief on Spain's existing EUR41.3bn loan from the ESM.


Spain and the eurozone as a whole will avoid long-lasting deflation, such as that experienced by Japan from the 1990s.







Apr 25, 2014

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EUR/USD consolidating around 1.3870


FXStreet (Edinburgh) - The shared currency is now attempting to consolidate in the upper band of today’s range, with the EUR/USD hovering over 1.3875/80.


EUR/USD bolstered by risk appetite


The better sentiment in the risk-associated assets allows the EUR to print 2-week highs, leaving the door open for a retest of recent highs at 1.3906 in early April. Ahead in the week, EMU’s flash CPI figures for the month of April will take centre stage in light of the ECB meeting. “It is our view that the ECB would rather use traditional policy tools before rolling out a programme of quantitative easing. But, whatever it decides it is quite possible that it will be little discernible success in undermining the EUR. In fact, we would argue that there is only one thing that will have a guaranteed effect on bring down the value of EUR/USD in the coming weeks and that would be a strengthening of the USD”, observed Jane Foley, Senior Currency Strategist at Rabobank.


EUR/USD levels to watch


As of writing the pair is advancing 0.19% at 1.3860 with the next resistance at 1.3906 (high Apr.11) ahead of 1.3935 (high Mar.19) and 1.3944 (high Mar.18). On the flip side, a breakdown of 1.3815 (low Apr.28) would aim for 1.3805 (21-d MA) and finally 1.3791 (low Apr.24).







Apr 28, 2014

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GBP/USD finds resistance post spike




FXStreet (London) - GBP/USD spiked this morning alongside the Euro, benefiting from rising risk sentiment and stop triggering, before finding resistance ahead of clustered sell orders.


With GBP/USD making a daily high and low at 1.6860 and 1.6777 respectively, spot is currently trading at 1.6845, up 0.27% on the day so far. The push higher saw cable take out the well-documented option barrier at 1.6850. Gerry Davies of FXBeat comments that he is “getting further reports of more barrier option interest at not only 1.6900 as one would expect, but also barrier option interest at 1.6875” and can see sell orders clustered around 1.6865/75.


GBP/USD Technicals bullish?


GBP/USD spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. Currently RSI is at 65.71, down from the last hourly print at 66.64, with ADX at 13.77, down from its previous close at 21.47. RSI is neutral at 61.77, according to the daily chart. On the hourly GBP/USD chart, the 200 SMA is climbing and currently at 1.6806, up from the previous hour close at 1.6800. Over the past 20 days, the exponential average closing price is 1.6740, and trending higher.


GBP/USD Volatility Shrinking?


On the hourly GBP/USD chart, ATR (14) is presently at 7 pips, while 2-Standard Deviation Volatility Bandwidth is expanding and currently 91 pips. Daily 2-Standard Deviation Volatility Bandwidth is at 319 pips and shrinking. The average movement for the current session over the previous four weeks has been 7 pips. Meanwhile, 13:00-14:00 GMT represents peak for volatility, with an average movement of 16 pips over the same period.


GBP/USD Levels


Resistance can be found ahead of spot at 1.6848 [Last Price], 1.6850 (Daily Classic R2), 1.6860 (Daily High), 1.6867 (Daily Classic R3), 1.6879 (Weekly Classic R2) and 1.6918 (Weekly Classic R3). To the downside we see next support at 1.6840 (Weekly Classic R1), 1.6833 (Yesterday's High), 1.6825 (Daily Classic R1), 1.6824 (Monthly High) and 1.6824 (Weekly High).








Apr 28, 2014

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Gold clings to USD1,300/oz level after support from Ukraine tensions




FXStreet (London) - Gold prices are clinging to the USD1,300/oz mark, after being supported by haven demand on concerns over the Ukraine.


The recent rally in the precious metal ended a four-week decline. Gold had climbed to a six-month high in March at USD1,380 on Russian military incursions into the Crimea. In the interim, gold prices declined by 9 percent on hopes that tensions would ease in the area.


Gold remains up 8.1 percent on the year-to-date, but follows a 28 percent decline in 2013, the biggest decline since 1981.


However, there are signs that the rally in gold may be short-lived.


Decline of indiscriminate Chinese demand


Data released overnight by the Hong Kong Census and Statistics Department showed that net gold inflows from Hong Kong into mainland China declined to 85.128 tonnes in March, down from 112.314 tonnes in February. The declines were driven by a weaker domestic Renminbi as well as discounted mainland gold prices reducing Hong Kong gold demand from Chinese banks. According to the World Gold Council, China consumed a record 1,066 tonnes of gold last year, overtaking India as the world’s largest gold consumer. The decline in Hong Kong gold demand suggests a slowing of indiscriminate appetite for gold from Chinese banks.


Relative US tightening


A further source of downside pressures comes from the Federal Reserve’s continuing support for the policy of QE tapering. The Fed has cut USD10bn from its asset purchase programme in successive meetings since its first round of tapering in December, with the programme currently standing at USD55bn-a-month. With a return to relatively-tighter monetary policy, investor appetite for gold as a store of value has tumbled.


Spot gold prices currently stand at USD1,299.60, clinging to support around the psychologically-important USD1,300 level.








Apr 28, 2014

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United States S&P/Case-Shiller Home Price Indices (YoY) came in at 12.9% disappointing expectations (13%) in February



Read more in Forex News








Apr 29, 2014

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EUR/USD flirting with 1.3880



FXStreet (Edinburgh) - The single currency is now picking up pace as the selling pressure is hurting the greenback, taking the EUR/USD just pips away from 1.3880.


EUR/USD focus on the FOMC meeting


Higher consumer prices in Euroland during April combined with disappointing US GDP figures in the first quarter are bolstering the current EUR bull run to the boundaries of 1.3880. The next risk event will be the FOMC meeting, with consensus pointing to an extra $10 billion taper. “The important take away from the inflation reports is that speculation that the ECB may initiate a QE program in May seems reduced”, commented analysts at BBH Global Currency Strategy Team.


EUR/USD levels to watch


As of writing the pair is advancing 0.41% at 1.3868 with the next hurdle at 1.3880 (high Apr.29) ahead of 1.3906 (high Apr.11) and finally 1.3935 (high Mar.19). On the other hand, a break below 1.3771 (low Apr.30) would target 1.3738 (low Apr.8) en route to 1.3729 (100-d MA).








Apr 30, 2014

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GBP/USD reaches 1.6900, fresh multi-year high



FXStreet (Córdoba) - Cable rose further against the US dollar and reached the strongest levels since August 2009. The GBP/USD climbed to 1.6900 hitting a fresh daily high ahead of the FOMC statement as the US dollar plunged across the board.


Greenback weakened after the Wall Street’s opening bell pushing the pair to the upside. Cable was able to break above 1.6855/60, where previous highs lie and soared to 1.6900 that capped the upside.


Currently GBP/USD is pulling back slightly and trades at 1.6888, up 0.35% and rising for the third day in a row, headed toward the highest daily close since 2009.








Apr 30, 2014

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USD/JPY falls toward 102.00 ahead of the FED



FXStreet (Córdoba) - The USD/JPY dropped further during the American session and hit a fresh 2-day low at 120.02, as US government bond yields reached fresh lows ahead of the FOMC statement.


After the release of the ADP employment report the USD/JPY jumped to 102.65 but then after GDP data reversed and turned to the downside, accelerating following Wall Street opening bell as the US dollar tumbled across the board.


USD/JPY technical levels


To the upside, immediate resistance could be located at 102.30 and above here at 102.65/70 (daily high) and 102.95. To the downside, the area around 102.00 is the first support to consider and below 101.60 and 101.20.








Apr 30, 2014

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USD/CAD choppy around 1.0950



FXStreet (Edinburgh) - The USD/CAD is trading within a 30 pips range on Wednesday, keeping the trade between 1.0950 and 1.0980 so far.


USD/CAD looking to consolidate


Spot is now attempting a consolidation pattern after yesterday’s drop from the 1.1040 region ahead of the FOMC gathering due later. In the data front, Canadian GDP figures came in in line with consensus at 0.2% inter-month in February while the US print missed expectations at 0.1% vs. 1.2% forecasted. “USDCAD slipped a little below retracement support over the past 24 hours but losses below 1.0956 have been limited and price action subsequently looks constructive for funds, from a short-term point of view at least… Bullish “hammer” formations in the 6-hour charts still suggest the near-term likelihood of a squeeze up to the 1.10 area near term. We see solid support on short-term dips to 1.045/5 now”, commented Shaun Osborne, Chief FX Strategist at TD Securities.


USD/CAD levels to watch


The pair is now up 0.05% at 1.0950 facing the next resistance at 1.1014 (low Apr.25) ahead of 1.1053 (high Apr.23) and then 1.1069 (50% of 1.1279-1.0858). On the flip side, a breakdown of 1.0919 (low Apr.11) would expose 1.0868 (low Apr.10) and finally 1.0858 (low Apr.6).








Apr 30, 2014

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USD/CHF propelled by US jobs data



FXStreet (Córdoba) - The dollar rose sharply across the board and took the USD/CHF to 2-day highs above 0.8800 propelled by much better-than-expected US nonfarm payrolls figures.


The USD/CHF rose more than 50 pips after data showed the US economy created 288,000 new jobs in April, far surpassing the 210,000 expected, and reached a high of 0.8840 before facing resistance. At time of writing, the USD/CHF is trading at 0.8835, recording a 0.51% gain on Friday and on track to post a 0.39% weekly advance, having bounced from a low of 0.8769.


USD/CHF levels to watch


As for technical levels, immediate resistances for USD/CHF could be found at 0.8840 (May 2 high), 0.8850 (Apr 30 high) and 0.8860 (Apr 22 high). On the other hand, supports are seen at 0.8782 (May 1 low), 0.8769 (Apr 28 low) and 0.8750 (Apr 10 low).









May 02, 2014

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EUR/JPY returns to 142.00 after peaking to 142.35



FXStreet (San Francisco) - The EUR/JPY attempted a rally from 142.10 as it jumped to 142.35, highest since April 29; however, the pair found selling interest at this level and currently it is trading back to 142.00.


Currently, EUR/JPY is trading at 142.07, up 0.12% on the day, having posted a daily high at 142.35 and low at 141.77. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.


EUR/JPY levels


If the pair loses the 142.00 level, next supports are seen at 141.90 and 141.75. On the upside, resistances are at 142.15, 142.35 and 142.45.









May 02, 2014

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EUR/USD bounces sharply and retests daily highs



FXStreet (Córdoba) - The EUR/USD is staging a mild bounce, trimming some of its intraday losses incurred in the wake of strong US nonfarm payrolls.


The EUR/USD fell to a 2-day low of 1.3811 immediately after the data but managed to recover afterward as in Sebastien Galy analyst at Societe Generale terms, the substitution effect of rising yields gives way to the wealth effect of a rising labour market on risk taking.


The EUR/USD has completely erased intraday losses and it was at 1.3865 at last check. At current levels, the pair would close the week with a slight gain for second time in a row.


EUR/USD supports & resistances


As for technical levels, next resistances for EUR/USD could be found at 1.3888 (May 1 high), 1.3904 (Apr 11 high) and 1.3933 (Mar 19 high). On the other hand, supports are seen at 1.3811 (May 2 low/50-day SMA) and 1.3777 (Apr 30 low).










May 02, 2014

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AUD/USD rebounds sharply, rises back above 0.9250



FXStreet (Córdoba) - The AUD/USD bottomed at 0.9200 after the release of the Nonfarm Payroll report in the US, that surpassed expectations, reaching the lowest price in a month but then rebounded sharply and rose more than 60 pips, back to the price it had before NFP.


From 0.9200 the AUD/USD jumped to 0.9274 but then pulled back and currently trades at 0.9255, down 0.19% for the day so far. Initially the US dollar rose across the board but after Wall Street opening erased gains.


According to the ">US employment report the economy added 288,000 jobs is April, above expectations of 210,000. March numbers were revised to the upside, while the unemployment rate fell from 6.7% to 6.3%.









May 02, 2014

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GBP/USD regains 1.6880



FXStreet (Edinburgh) - The GBP/USD is regaining the 1.6880 level and thus extending the bounce off session troughs near 1.6820 post-US Payrolls.


GBP/USD capped by 1.6900


Positive economic indicators during this week allowed the sterling to print new multi-year highs vs. the greenback beyond the 1.6900 handle, although spot was unable to trade back to those levels so far. “We continue to see only a 25% chance that the BoE can hike this year, but admit that risk is rising”, commented strategists at TD Securities. Today’s Payrolls in the US economy (288K act.) largely surpassed expectations, albeit the subsequent spike in USD was totally reverted soon after.


GBP/USD levels to watch


The pair is now losing 0.11% at 1.6875 with the next support at 1.6841 (10-d MA) followed by 1.6821 (low May 2) and finally 1.6805 (low Apr.3). On the upside, a break above 1.6921 (high May 1) would aim for 1.7000 (psychological level) and then 1.7044 (high Aug.5 2009).









May 02, 2014

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GBP/USD regains 1.6880



FXStreet (Edinburgh) - The GBP/USD is regaining the 1.6880 level and thus extending the bounce off session troughs near 1.6820 post-US Payrolls.


GBP/USD capped by 1.6900


Positive economic indicators during this week allowed the sterling to print new multi-year highs vs. the greenback beyond the 1.6900 handle, although spot was unable to trade back to those levels so far. “We continue to see only a 25% chance that the BoE can hike this year, but admit that risk is rising”, commented strategists at TD Securities. Today’s Payrolls in the US economy (288K act.) largely surpassed expectations, albeit the subsequent spike in USD was totally reverted soon after.


GBP/USD levels to watch


The pair is now losing 0.11% at 1.6875 with the next support at 1.6841 (10-d MA) followed by 1.6821 (low May 2) and finally 1.6805 (low Apr.3). On the upside, a break above 1.6921 (high May 1) would aim for 1.7000 (psychological level) and then 1.7044 (high Aug.5 2009).









May 02, 2014

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Gold jumps to $1,304



FXStreet (Córdoba) - Spot gold recently reached a fresh 4-day high at $1,304, after making a strong rebound. After the release of the US employment report price tumbled to $1,273 but quickly rebounded to the level it had before NFP.


Following the opening bell at Wall Street gained momentum and accelerated to the upside, breaking above $1,288 (previous daily highs). The yellow metal printed a fresh high at $1,304 and then pulled back. Currently trades at $1,299, $15 above the price it had at the beginning of the day and near the one it had a week ago.


A weak US dollar pushed XAU/USD to the upside amid rising tension in Ukraine. Stocks in Wall Street opened higher but then turned negative, on a relatively volatile session and currently trade in mixed territory.









May 02, 2014

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