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Crude rises on slower gain in inventories at API
Published On :2014-10-29 09:23:00
Market :Stocks, Oil & Metals

Crude Oil on the both sides of the Atlantic, is trading higher today after the American Petroleum Institute data showed a slower build up of inventories yesterday.


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FXStreet (Mumbai) - Crude Oil on the both sides of the Atlantic, is trading higher today after the American Petroleum Institute data showed a slower build up of inventories yesterday.

The WTI Crude is trading 0.49% higher at USD 81.92/barrel, while the Brent Crude is trading 0.46% higher at USD 86.47/barrel. The prices gained after The American Petroleum Institute showed a 3.2 million-barrel build in oil supplies. However, the gains were capped by the bearish price targets of major investment banks coupled with the ongoing supply concerns.

Moreover, the prices have edged higher ahead of the Energy Information Agency (EIA) data which is likely to show inventories probably fell by 900,000 barrels to 203.5 million last week.

Brent Technical levels

Brent has an immediate support at 87.19, above which prices can rise to 88.00 levels. On the flip side,, prices may decline to 85.50 levels if the immediate support of 86.00 is taken out.


All eyes on Fed meeting tonight - Danske
Published On :2014-10-29 09:18:00
Market :Forex Flash

The Danske team of analysts expect the Fed to finalize QE3 at the monetary policy meeting later today.


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FXStreet (Łódź) - The Danske team of analysts expect the Fed to finalize QE3 at the monetary policy meeting later today.

Key quotes


"Given the recent market turmoil, the Fed is likely to reiterate the 'considerable time' forward guidance and the 'significant underutilisation' description of the labour market."

"We expect the Fed to end asset purchases as has been signalled by several members recently and we only see 30-40% likelihood of the Fed mentioning the possibility of QE4."

"We have changed our Fed first hike forecast from April to June next year due to the lower inflation outlook and slower growth outside US."


USD/JPY one step closer to break below 108.00
Published On :2014-10-29 09:18:00
Market :Foreign Exchange

USD/JPY came closer to 108.00 handle in early Asia; currently, it’s trading at 108.02.


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FXStreet (Moscow) - USD/JPY came closer to 108.00 handle in early Asia; currently, it’s trading at 108.02.

The pair is getting nervous with every coming hour, as the market is expecting less aggressive stance from the FOMC tonight. The released yesterday weaker-than-expected US data only confirmed the unstable recovery of the US economy, and strengthened the case for neutral position of the Fed. The monetary authorities will most probably announce the end of the QE program, but given the weakness of Europe and Asia, it may prefer not to rush with the first rate hike. For the pair it may mean more downside potential with initial target at 107.83 support, followed by 107.51.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 108.02; initial support levels at 107.83, 107.51 and 107.32 with resistance above at 108.234, 108.53 and 108.85. Hourly Moving Averages are bullish, with the 200SMA bullish at 107.34 and the daily 20EMA bullish at 107.60. Hourly RSI is bullish at 55.



Technical Studies :

Updated At - 2014-10-29 09:15:00

OPEN = 108.04  |  CLOSE = 108.06  |  HIGH = 108.08  |   LOW = 108.04
BID = 108.05  |  ASK = 108.06  |   PERCENT = -0.01
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bearish  |   Strength = -3  |  OBO Recommendation = Neutral

EUR/GBP capped around 0.7900
Published On :2014-10-29 09:18:00
Market :Foreign Exchange

The tight range prevails in EUR/GBP on Wednesday, while market participants wait for the string of data releases in the UK ahead of the FOMC meeting later on today...


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FXStreet (Edinburgh) - The tight range prevails in EUR/GBP on Wednesday, while market participants wait for the string of data releases in the UK ahead of the FOMC meeting later on today.

EUR/GBP focus on UK data

The cross keeps the consolidative patter between 0.7860 and 0.7900 in the first half of the week, looking to stabilize after the pullback from October peaks near 0.8050. Ahead in the day, UK docket carries the potential to spark some moves, as Consumer Credit (£0.8 billion exp.), M4 Money Supply (0.5% MoM exp.), Mortgage Approvals (62.250K exp.) and Net Lending to Individuals (£2.8 billion exp.) are all due later. Nothing of note from the EUR side of the equation, with the critical flash CPI in the euro area out on Friday. Dmytro Bondar, Technical Analyst at RBS, observed, “For now it is likely to stay in a channel, with a possible dip towards the 0.7800 support level, but overall remains posed for more upside amid inside week at the start of October and clear bullish divergence with MACD”.

EUR/GBP levels to consider

As of writing the cross is flat at 0.7894 with the next resistance at 0.7901 (high Oct.28) ahead of 0.7917 (high Oct.23) and then 0.7926 (high Oct.22). On the flip side, a breakdown of 0.7864 (low Oct.27) would expose 0.7851 (low Oct.10) and finally 0.7833 (76.4% of 0.7767-0.8046).



Technical Studies :

Updated At - 2014-10-29 09:15:00

OPEN = 0.7895  |  CLOSE = 0.7894  |  HIGH = 0.7897  |   LOW = 0.7893
BID = 0.7894  |  ASK = 0.7895  |   PERCENT = 0.0127
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

EUR/USD trading around 1.2735 levels - FXStreet
Published On :2014-10-29 09:13:00
Market :Forex Flash

FXStreet Editor and Analyst Omkar Godbole points out that EUR/USD is trading close to the 1.2735 area on Wednesday, with the daily RSI bearish at 48.51.


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FXStreet (Łódź) - FXStreet Editor and Analyst Omkar Godbole points out that EUR/USD is trading close to the 1.2735 area on Wednesday, with the daily RSI bearish at 48.51.

Key quotes

"On the hourly charts, the pair is struggling to rise above the 1.2740 levels today, while the RSI is inching lower towards 50.00 levels."

"Moreover, the pair failed to sustain gains above 1.2740 levels yesterday."

"Interestingly, the 1.2740-1.2730 level is also the neckline of the triple top formation witnessed in the last week on the hourly charts."

"Thus, a fresh demand for the Euros can be anticipated if the pair manages to sustain above 1.2740 levels."

"However, the pair is more likely to test 1.2690-1.2680 levels during the European session given the bearish daily RSI and the failure to rise above 1.2740 levels."


GBP/USD recovering off 1.6000 - Commerzbank
Published On :2014-10-29 09:09:00
Market :Forex Flash

Karen Jones, analyst at Commerzbank points out that the GBP/USD downtrend reversed on Wednesday but the pair is unable to push through the 1.6185 resistance level.


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FXStreet (Łódź) - Karen Jones, analyst at Commerzbank points out that the GBP/USD downtrend reversed on Wednesday but the pair is unable to push through the 1.6185 resistance level.

Key quotes


"The risks have increased that this is an inverse head and shoulders pattern."

"A close above 1.6185 however is needed to confirm and introduce scope to the 1.6376/38.2% retracement."


Spain Retail Sales (YoY) above forecasts (0.6%) in September: Actual (1.1%)
Published On :2014-10-29 09:02:00
Market :Indicators


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Hungary Unemployment Rate (3M) down to 7.4% in September from previous 7.6%
Published On :2014-10-29 09:00:00
Market :Indicators


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FXStreet.com (Barcelona)


Sweden Consumer Confidence (MoM): 98 (October) vs previous 102.4
Published On :2014-10-29 09:00:00
Market :Indicators


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FXStreet.com (Barcelona)


Copper strengthens as strikes may reduce Surplus
Published On :2014-10-29 08:47:00
Market :Stocks, Oil & Metals

Copper prices are trading higher due to the strikes at the Grasberg project in Indonesia, coupled with a strike set to begin Nov. 10 at the Antamina mine in Peru.


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FXStreet (Mumbai) - Copper prices are trading higher due to the strikes at the Grasberg project in Indonesia, coupled with a strike set to begin Nov. 10 at the Antamina mine in Peru.

The Comex Copper, on the New York Mercantile Exchange, is trading near the two-week highs at USD 3.092/pound levels. Moreover, estimates suggest that these two labor disruptions could remove 84,000 tonnes of mined copper supply through the end of 2014. Moreover, the average forecast for copper at the beginning of 2014 was a surplus of 600,000 tonnes. However, it may fall down to 70,000 tonnes or a deficit depending on the longevity of the two strikes.

Comex Copper Technical levels

Copper has an immediate resistance at 3.104 (Oct. 14 high), above which prices can rise to 3.12 levels. On the other hand, a failure to rise above 3.104 levels can send the prices down to 3.074 levels.


France Consumer Confidence registered at 85, below expectations (86) in October
Published On :2014-10-29 08:45:00
Market :Indicators


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GBP/USD – the 4th attack at 1.62?
Published On :2014-10-29 08:40:00
Market :Foreign Exchange

GBP/USD opened at 1.6131, and shyly moved higher to 1.6152 in early Europe; currently, it’s trading at 1.6144.


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FXStreet (Moscow) - GBP/USD opened at 1.6131, and shyly moved higher to 1.6152 in early Europe; currently, it’s trading at 1.6144.

Yesterday, the pound made the third attempt in a row during the last month to break above 1.6180/1.62 resistance area. Although the move hasn’t succeeded yet, nothing is lost for the pair, as the FOMC meeting may trigger sharp volatility in the market. If the BOE becomes the leader of “rate hike race” again, the pound may have all the chances to break above the mentioned area, and to refresh monthly highs. The initial target above 1.62 may be found at 1.6230 resistance.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6134, with support below at 1.6085, followed by 1.6038 and 1.5989 with resistance above at 1.6181, followed by 1.6230 and 1.6277. Hourly Moving Averages are bullish, with the 200SMA at 1.6098, and the daily 20EMA flat at 1.6121. Hourly RSI is bullish at 53.



Technical Studies :

Updated At - 2014-10-29 08:30:00

OPEN = 1.6151  |  CLOSE = 1.6146  |  HIGH = 1.6155  |   LOW = 1.6145
BID = 1.6146  |  ASK = 1.6147  |   PERCENT = 0.031
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

Gold trades flat ahead of the Fed meeting
Published On :2014-10-29 08:28:00
Market :Stocks, Oil & Metals

Gold prices are trading in a narrow range as investors prefer to stay on the sidelines ahead of the all-important Federal Reserve (Fed) interest rate decision.


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FXStreet (Mumbai) - Gold prices are trading in a narrow range as investors prefer to stay on the sidelines ahead of the all-important Federal Reserve (Fed) interest rate decision.

The yellow metal is trading 0.04%higher at USD 1229.90/Oz, largely stuck in a range of 1227-1230 since the Asian session. Moreover, the Treasury yields in the US and the US Dollar Index are dead flat, providing no inter market clues to the Gold prices. Moreover, gains in the metal have been capped by the Asian shares which are trading at a one-month high today. The MSCI Asia-Pacific index ex-Japan gained 1%, while the Nikkei has gained 1.5%.

Meanwhile, the US stocks gained more than 1% yesterday while the European shares are expected to follow suit.

Gold Technical levels

Gold has an immediate support at 1225, under which prices can dip to 1217 levels. On the flip side, resistance is seen at 1235 and 1240 levels.


What’s the sentiment around EUR/USD today? – Danske Bank and Commerzbank
Published On :2014-10-29 08:04:00
Market :Forex Flash

EUR/USD remains almost unchanged on Wednesday, hovering over the 1.2740 area ahead of the FOMC meeting due in the European evening...


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FXStreet (Edinburgh) - EUR/USD remains almost unchanged on Wednesday, hovering over the 1.2740 area ahead of the FOMC meeting due in the European evening.

“We still expect the recent high at 1.2885 to be protected and we would consider selling the rallies in EUR/USD. On a 3-6M horizon we expect relative growth performance and the outlook for relative monetary policy to pave the way for another move lower in EUR/USD. We target 1.22 in 3M and 1.20 in 6M”, note Anders Fischer, Analyst at Danske Bank.

In addition, Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested the pair “is bid in its range but has not overcome any resistance of note, we have a near term downtrend at 1.2768 today and while capped here there is a downside bias, however the intraday chart is more positive”.


EUR/JPY retreats from Asian high at 137.80
Published On :2014-10-29 07:59:00
Market :Foreign Exchange

EUR/JPY  is trading at 137.60 after having opened at 137.69 and moved within a narrow range limited by 137.80 on the upside and 137.64 on the downside.


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FXStreet (Moscow) - EUR/JPY  is trading at 137.60 after having opened at 137.69 and moved within a narrow range limited by 137.80 on the upside and 137.64 on the downside.

EUR/JPY made a good progress on Tuesday, underpinned by EUR strength and JPY weakness. The cross rushed above 137.00 pivot and touched the intraday high at 137.79 before settling down at 137.69. Today the cross movements would be shaped by market reaction to FOMC meeting. Market sentiments are tilted towards more dovish outcome, thus unexpected hawkish surprise might make a stir. From the technical point of view keep an eye at 137.80 as it is the nearest resistance level followed by 138.00. The support is seen at 137.50.

What are today’s key EUR/JPY levels? 

Today's central pivot point can be found at 137.48, with support below at 137.13, 136.53 and 136.18, with resistance above at 138.08, 138.43,  and 139.03. Hourly Moving Averages are mixed with the 200SMA bullish at 136.57 and the daily 20EMA flat at 136.96. Hourly RSI is bullish at 66.



Technical Studies :

Updated At - 2014-10-29 07:45:00

OPEN = 137.65  |  CLOSE = 137.61  |  HIGH = 137.68  |   LOW = 137.6
BID = 137.56  |  ASK = 137.66  |   PERCENT = 0.03
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bearish  |   Strength = -2  |  OBO Recommendation = Neutral

EUR/USD nervous ahead of FOMC
Published On :2014-10-29 07:34:00
Market :Foreign Exchange

EUR/USD is practically immovable during subdued Asian session on Wednesday; The pair is sitting at its opening level of 1.2734 after having moved in 12-pips range.


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FXStreet (Moscow) - EUR/USD  is practically immovable during subdued Asian session on Wednesday; The pair is sitting at its opening level of 1.2734 after having moved in 12-pips range.

EUR/USD finished the third positive day in a row on Tuesday. The upside was caused by USD weakness triggered by unexpectedly weaker Durable Goods Orders. European calendar seems to be empty, so now the market focus shift onto the FOMC meeting. The FED is widely expected to wrap-up its asset buying program, known as QE3, but investors are more interested in rate hike prospects. If the FED’s officials continue to stress that there is no hurry to tighten policy and rates are going to remain low for a considerable time, USD might weaken across the board. EUR/USD may break above 1.2800 and touch 1.2840. The support comes at 1.2720 and 1.2700.

What are today’s key EUR/USD levels? 


Today's central pivot point can be found at 1.2727, with support below at 1.2691, 1.2648 and 1.2610, with resistance above at 1.2772, 1.2810 and 1.2853. Hourly Moving Averages are bearish, with the 200SMA bullish at 1.2722 and the daily 20EMA flat at 1.2729. Hourly RSI is bullish at 57.



Technical Studies :

Updated At - 2014-10-29 07:30:00

OPEN = 1.2745  |  CLOSE = 1.2743  |  HIGH = 1.2747  |   LOW = 1.2743
BID = 1.2743  |  ASK = 1.2744  |   PERCENT = 0.0157
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bearish  |   Strength = -2  |  OBO Recommendation = Neutral

South Africa M3 Money Supply (YoY) climbed from previous 6.41% to 7.85% in September
Published On :2014-10-29 07:00:00
Market :Indicators


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South Africa Private Sector Credit declined to 8.74% in September from previous 8.78%
Published On :2014-10-29 07:00:00
Market :Indicators


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AUD/USD moves higher ahead of European opening
Published On :2014-10-29 06:59:00
Market :Foreign Exchange

AUD/USD is climbing higher. The pair touched the Asian high at 0.8868 after having started the day at 0.8851.


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FXStreet (Moscow) - AUD/USD  is climbing higher. The pair touched the Asian high at 0.8868 after having started the day at 0.8851.

Australia’s calendar remains empty. It means that investors would have to spend the day waiting for FOMC meeting. Obviously this event is the biggest card on financial markets’ dancing card this week. The tone of the statement will shape USD near-term dynamics and influence AUD/USD movements. The pair is growing within a wide range, though strong offers spotted at 0.8900 may cap the upside at least until FOMC meeting results. On the downside keep an eye at 0.8825/20 with medium demand on approach.

What are today’s key AUD/USD levels? 

Today's central pivot point can be found at 0.8845, with support below at 0.8806, 0.8756 and 0.8717, with resistance above at 0.8895, 0.8934 and 0.8984. Hourly Moving Averages are mixed, with the 200SMA bullish at 0.8791 and the daily 20EMA flat at 0.8808. Hourly RSI is bullish at 65.



Technical Studies :

Updated At - 2014-10-29 06:45:00

OPEN = 0.8866  |  CLOSE = 0.8864  |  HIGH = 0.8868  |   LOW = 0.8863
BID = 0.8862  |  ASK = 0.8868  |   PERCENT = 0.0226
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Overbought

USD/JPY frozen above 108.00 ahead of FOMC
Published On :2014-10-29 06:17:00
Market :Foreign Exchange

USD/JPY is trading marginally above its Asian opening level at 108.12 after having moved within a narrow range limited by 108.23 on the upside and 108.07 on the downside.


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FXStreet (Moscow) - USD/JPY  is trading marginally above its Asian opening level at 108.12 after having moved within a narrow range limited by 108.23 on the upside and 108.07 on the downside.

USD/JPY gained ground on Tuesday despite USD weakness agains most majors. The American currency held well against JPY due to better risk sentiments caused by positive US corporate earnings reports and, bullish stock markets momentum. Speculations that the Bank of Japan is going to revise down its economic forecasts on Friday added to JPY’s woes. USD/JPY closed above 108.00 on daily basis, which improved its short-term technical picture. The nearest resistance comes at 108.40 with strong offers on approach. The support comes at 108.00.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 108.02; initial support levels at 107.83, 107.51 and 107.32 with resistance above at 108.234, 108.53 and 108.85. Hourly Moving Averages are bullish, with the 200SMA bullish at 107.34 and the daily 20EMA bullish at 107.60. Hourly RSI is bullish at 55.



Technical Studies :

Updated At - 2014-10-29 06:15:00

OPEN = 108.14  |  CLOSE = 108.13  |  HIGH = 108.15  |   LOW = 108.13
BID = 108.13  |  ASK = 108.14  |   PERCENT = 0
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

Asia Recap: Consolidation in G10 FX ahead of FOMC
Published On :2014-10-29 06:01:00
Market :Foreign Exchange

A slow Asian session, with all G10 currencies in consolidation ahead of the FOMC, which will probably define the next near term trend for the USD.


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FXStreet (Bali) - A slow Asian session, with all G10 currencies in consolidation ahead of the FOMC outcome later today, which will probably define the next near term trend for the USD.

AUD/USD kept the bullish tone, trading slowly higher, currently at 0.8866, and heading towards recent highs at 0.8881. NZD/USD was firmer at 0.7930 with sellers tipped at 0.7950/55, Tuesday's high. USD/JPY consolidated a few pips above 108.00. EUR/USD saw trading developing in a tight 1.2730-40 range. GBP/USD was capped a few pips below 1.6150.

On the fundamental front, Japan's preliminary Industrial Production for September came at +2.7% MoM VS +2.2% exp. In New Zealand, ANZ Business Confidence for October was lifted to 26.5 vs 13.4 prior (mainly on political uncertainty). Lastly, MNI/Wespac China consumer sentiment in October stood at 110.9 vs. 113.2 prior.


NZD/USD sidelined, waiting for FOMC and RBNZ
Published On :2014-10-29 05:43:00
Market :Foreign Exchange

NZD/USD is squeezed in a narrow 26-pip range limited by 0.7933 on the upside and 0.7909 on the downside during quiet Asian session. Currently the pair is trading at 0.7923, marginally above the opening level.


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FXStreet (Moscow) - NZD/USD  is squeezed in a narrow 26-pip range limited by 0.7933 on the upside and 0.7909 on the downside during quiet Asian session. Currently the pair is trading at 0.7923, marginally above the opening level.

NZD/USD closed above 0.7900 on daily basis after having touched 0.7957 high. Today’s Asian session is very quiet as markets are focused on FED’s meeting which started Tuesday, with a a decision due later today. The FOMC meeting is not expected to bring any surprises, though volatility is warranted. Moreover, we have RBNZ meeting early in Asia on Thursday. This is anther risk event for kiwi that keeps traders at bay. From the technical point of view, the nearest resistance for NZD/USD comes at 0.7933 (Asian high), once it is broken the pair may continue the upside towards 0.7957 (Tuesday’s high). The support is seen at 0.7900, it is followed by 0.7880.

What are today’s key NZD/USD levels? 

Today's central pivot point can be found at 0.7921, with support below at 0.7882, 0.7843 and 0.7804, with resistance above at 0.7960, 0.7999 and 0.8038. Hourly Moving Averages are bearish, with the 200SMA bullish at 0.7915 and the daily 20EMA flat at 0.7922. Hourly RSI is bullish at 54.



Technical Studies :

Updated At - 2014-10-29 05:30:00

OPEN = 0.7928  |  CLOSE = 0.7932  |  HIGH = 0.7934  |   LOW = 0.7927
BID = 0.7931  |  ASK = 0.7932  |   PERCENT = -0.0504
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bearish  |   Strength = -2  |  OBO Recommendation = Neutral

RBNZ: Tightening cycle to become conditional - Westpac
Published On :2014-10-29 05:20:00
Market :Forex Flash

Imre Speizer, FX Strategist at Westpac, notes that in tomorrow's RBNZ meeting, the OCR is expected to remain unchanged at 3.50%, the pause duration to extend, and the resumption of the tightening cycle to become conditional.


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FXStreet (Bali) - Imre Speizer, FX Strategist at Westpac, notes that in tomorrow's RBNZ meeting, the OCR is expected to remain unchanged at 3.50%, the pause duration to extend, and the resumption of the tightening cycle to become conditional.

Key Quotes

"The main development since the RBNZ’s September MPS is the surprisingly low Q3 CPI outturn. At 1.0% yoy it was 0.3% lower than the RBNZ had forecast. The other notable negative developments have been the further declines in export commodity prices and the slightly slower pace of GDP growth, although these are offset by the lower exchange rate and higher migration."

"The net impact of all these developments is likely to be a longer pause duration compared to that implied in the September MPS. The resumption of the tightening cycle is now likely to be not until September 2015, rather than Q2 2015, and will be indicated by language such as: "The current period of monitoring and assessment is likely to continue for some time."

"In addition, the unconditional tightening signal is likely to have some conditionality attached: "While we expect some further policy tightening will be necessary, the timing and extent will depend on how inflation responds to economic and financial developments."

"The above characterisation of the narrative (note there are no forecasts published from this meeting) represents our central scenario to which we assign a 70% probability. The market has probably priced this in already, being 40bp below the RBNZ’s most recent projections at the Dec-16 point . The 2yr swap rate should thus not move much in response. The NZD/USD exchange rate, though, is vulnerable to a modest decline."

"Our dovish scenario, to which we assign a 20% probability, is defined by a removal of any hint of further tightening. The 2yr swap should fall by 10bp in response."

Our hawkish scenario, to which we assign a 10% probability, is defined by a retention of September’s policy paragraph. The 2yr swap should only rise by around 6bp in response, partly because the market would view such a statement with skepticism.

OIS pricing currently implies around zero chance of a hike during the next six months, with the next hike priced for not until December 2015..


S&P: Japan sales tax hike may be credit negative
Published On :2014-10-29 04:32:00
Market :Indicators

According to the rating agency Standard & Poors, via Reuters, the planned Japan sales tax hike for next year - second in a row - may be credit negative if it harms economy.


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FXStreet (Bali) - According to the rating agency Standard & Poors, via Reuters, the planned Japan sales tax hike for next year - second in a row - may be credit negative if it harms economy.

As Reuters notes, citing a senior official of S&P: "Japan’s plan to raise its sales tax for the second year in a row next year may not be positive for the country’s credit rating if it snuffs out any chance of economic recovery,

Reuters adds, citing Takahira Ogawa, director of sovereign ratings at the agency: "If the government were to delay next year’s tax increase, it would still need to cut welfare spending and push through structural reforms to accelerate economic growth."

At present, as Reuters informs, S&P has an AA- rating on Japan, which is three notches below the top rating of AAA, with a negative outlook, implying that a downgrade is a possibility.


BoJ's Kuroda keeps familiar stance, further QQE Q1 or Q2 2015?
Published On :2014-10-29 04:14:00
Market :Central Banks

Yesterday, we saw BOJ Gov. Kuroda testifying at the Upper House Finance/Budget ommittee, with the Central Banker reiterating the same position on easing and the yen, that is, saying that for now there is “no need to act on further easing” and that “weak yen is good as long as it reflects fundamentals.”


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FXStreet (Bali) - Yesterday, we saw BOJ Gov. Kuroda testifying at the Upper House Finance/Budget Committee, with the Central Banker reiterating the same position on both easing policies and the yen, by saying that for now there is “no need to act on further easing” and that “weak yen is good as long as it reflects fundamentals.”  

Kuroda's stance should reinforce the view that the BOJ will not change its policy course at this week’s policy meeting, with chances for a move in December also quite slim, according to the latest Bloomberg survey, with only "9% of BOJ watchers expect an easing this week, and 19% now expect BOJ easing by year-end", Nomura reports. That said, the BoJ's inflationary outlook on Friday will still be a critical piece of information that markets will follow closely in order to obtain further clues on the future prospects of QQE.

At present, market consensus on the next Japan's govt/BOJ’s game plan, appears to be for an official announcement on GPIF changes in asset allocation sometime in November, a supplementary budget between January and February, plan to increase wages in late Q1 2015, further accommodative policies (QQE) in late Q1/early Q2, while a decision to implement another increase in sales tax, if history serves as any indication, may drag on well into 2015 despite politicians assured the public that by Dec this year, a decision will be made.


First 'arrow' of Abenomics may now be weighing on economy - Nomura
Published On :2014-10-29 03:45:00
Market :Forex Flash

First “arrow” of Abenomics may now be weighing on economy, notes Richard Koo, Chief Economist at Nomura Research Institute.


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FXStreet (Bali) - First “arrow” of Abenomics may now be weighing on economy, notes Richard Koo, Chief Economist at Nomura Research Institute.

Key Quotes

"There is the possibility that the first “arrow” of Abenomics, an attempt to lift inflation expectations with monetary easing, may now be having a negative impact on the economy."

"Fully 80.4% of respondents to the BOJ survey said prices were higher than they were a year ago, and of those 78.8% said this was a “rather unfavorable” development. In other words, nearly 60% of all people view the ongoing rise in prices negatively."

"These findings suggest that policies aimed at recklessly raising the inflation rate or lifting the consumption tax have the potential to break the back of the Japanese economy. These policies, therefore, should be approached with great caution."


GBP/USD may be shaping up for a squeeze - TDS
Published On :2014-10-29 03:17:00
Market :Forex Flash

According to Shaun Osborne, Chief FX Strategist at TDS, GBP/USD technical patterns look positive for a potential squeeze higher near term.


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FXStreet (Bali) - According to Shaun Osborne, Chief FX Strategist at TDS, GBP/USD technical patterns look positive for a potential squeeze higher near term.

Key Quotes

"The recent turn up in GBPUSD is catching a little more attention with price action looking potentially positive on the short-term charts. Firstly, Cable is testing three-month trend resistance off the July high at 1.6150 today (the 40-day MA lurks just above at 1.6184– versus today’s high of 1.6183)."

"Secondly, the rebound from the October low may be forming an inverse Head & Shoulders reversal, the neckline of which (1.6157) today’s push higher has also tested. The formation suggests upside potential of around 330bps on a break higher—implying scope to near 1.65 on a break out from current levels."

We think long GBPUSD positions are worth considering in the event of a clear move through 1.6185 (above the 40-day MA, rather than the neckline trigger, in other words) over the next 24 hours (buy on a stop entry basis at 1.6205). A pop higher in Cable fits with the generally less constructive, near-term outlook for the USD we have outlined recently after the extended rally since mid-year"

"But we would use a tight, trailing stop (1.6165 initially) as seasonal trends do turn more adverse for the GBP through early November and if the seasonal effet if small, it is consistent (GBPUSD has weakened 70% of the time in the month of November in the last 20 years)."


Market balanced to a dovish FOMC - TDS
Published On :2014-10-29 02:56:00
Market :Forex Flash

Analysts at TD Securities explained that this FOMC meeting should mark the end of the QE3 program.


Full Content

FXStreet (Guatemala) - Analysts at TD Securities explained that this FOMC meeting should mark the end of the QE3 program.

Key Quotes:

“However, with domestic economic growth momentum beginning to leak lower, and the medium term outlook for the recovery and inflation becoming less certain, we expect the statement to be tweaked sufficiently to reflect a more dovish bias towards the near term monetary policy stance”.

“The risk, however, is that the statement fails to live up to the overly dovish tone that the market may be expecting”.


EUR/JPY testing space near key resistance 138.00
Published On :2014-10-29 02:38:00
Market :Foreign Exchange

EUR/JPY is trading at 137.77, up 0.03% on the day, having posted a daily high at 137.82 and low at 137.65.


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FXStreet (Guatemala) - EUR/JPY is trading at 137.77, up 0.03% on the day, having posted a daily high at 137.82 and low at 137.65.

EUR/JPY sits steady on a well bid performance rallying from 137.00 up to current levels on a gradual and convincing move over the European and US session. The shares and stock markets on both sides of the Atlantic were bullish which weighed on the Japanese currency and that leaves us in reach of the October highs testing the space in the 138.00 zone. This is a daily resistance territory that gave way once in the past three months when the pair rallied up over timeframes to 141.25.

EUR/JPY noteworthy levels

Current price is 137.78, with resistance ahead at 137.82 (Daily High), 137.83 (Yesterday's High), 138.08 (Daily Classic R1), 138.34 (Weekly Classic R2) and 138.43 (Daily Classic R2). Next support to the downside can be found at 137.74 (Weekly High), 137.73 (Daily Open), 137.70 (Weekly Classic R1), 137.67 (Daily 100 SMA) and 137.65 (Daily Low).



Technical Studies :

Updated At - 2014-10-29 02:30:00

OPEN = 137.77  |  CLOSE = 137.76  |  HIGH = 137.84  |   LOW = 137.74
BID = 137.75  |  ASK = 137.76  |   PERCENT = 0.01
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Overbought

GBP/USD trades bearishly into Asia - FXStreet
Published On :2014-10-29 01:58:00
Market :Forex Flash

Valeria Bednarik, chief analyst at FXStreet explained the conditions of the GBP/USD leading into the Asian session.


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FXStreet (Barcelona) - Valeria Bednarik, chief analyst at FXStreet explained the conditions of the GBP/USD leading into the Asian session.

Key Quotes:

“Having posted a daily high of 1.6182, the GBP/USD finally pulled back below the daily ascendant trend line coming from 1.7190, leaving a bitter taste on bull’s mouth”.

“The slow but steady slide over American hours, sees the pair entering Asian ones with a bearish short term tone, as per current candle opening below its 20 SMA and indicators about to cross their midlines to the downside with a strong bearish slope”.

“In the 4 hours chart indicators also turned lower but remain well above their midlines, while 20 SMA now offers immediate intraday support at 1.6090”.

“Furthermore in this last time frame, 200 EMA capped the upside around mentioned daily high quite significant in the longer run, as further declines will point for a return of the bearish trend”.


AUD/NZD needs to overcome 1.13 to enter new bullish phase
Published On :2014-10-29 01:40:00
Market :Foreign Exchange

UD is being paid at 1.1180 against its neighboring currency - NZD - with resistance and sellers layered above 1.12 still representing a tough opposition for emerging AUD buyers.


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FXStreet (Bali) - AUD is being paid at 1.1180 against its neighboring currency with sellers layered above 1.12 still representing a tough opposition for emerging AUD buyers.

In the current Asian session, the pair is unchanged from its NY close, with traders finding little incentives to increase order flow amid lack of relevant economic data. The only release of note today was an improved NZ business confidence reading, which had no impact in prices.

The next key event to cause significant increase in volatility comes on Thursday, when the RBNZ will release its latest monetary policy decision, in which no updated forecasts will be included. According to RBS: "Lower-than-expected inflation last week gives the RBNZ plenty of scope to maintain its neutral stance, which notes that a “period of assessment” on the policy rate is needed after the Bank increased the rate by 1.0% in 2014."

AUD/NZD is established in a 4 cents range between 1.09 and 1.13, with the macro landscape having recently been supportive for the AUD as long-held NZD longs are reduced amid a reassessment of RBNZ rate hike expectations. Technically, a clean break of 1.13 is required to enter a new bullish phase, while on the downside, focus remains on the 1.10 round number ahead of 1.09, with the 100-day EMA having acted as formidable dynamic support on the last setbacks through Sept/Oct on both 1.09 and 1.10 levels.



Technical Studies :

Updated At - 2014-10-29 01:30:00

OPEN = 1.1181  |  CLOSE = 1.1185  |  HIGH = 1.1187  |   LOW = 1.1181
BID = 1.1184  |  ASK = 1.1186  |   PERCENT = -0.0358
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

USD/JPY capped at R1 and struggles on 108 handle
Published On :2014-10-29 01:26:00
Market :Foreign Exchange

USD/JPY is trading at 108.11, down -0.04% on the day, having posted a daily high at 108.20 and low at 108.08.


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FXStreet (Barcelona) - USD/JPY is trading at 108.11, down -0.04% on the day, having posted a daily high at 108.20 and low at 108.08.

USD/JPY is losing the battle on the 108 handle with a slight penetration through and onto the 108.20 level and R1. The Yen has found a little support from the Industrial Production figures that came in at 0.6% y/y and 2.7% vs 2.2% expected for the month on month results.

Meanwhile, Karen Jones, chief analysts at Commerzbank suggested that we should now see only tepid retracements into the 107.39/23 band ahead of a climb above 110.00. “The market should remain well supported by cloud support circa 106.26/105.01… We target the 110.67 August 2008 high”. Valeria Bednarik, chief analyst at FXStreet, explained that the pair is confined to the range set by Fibonacci levels, in between 107.60 and 108.20 that represents the 50% and the 61.8% retracements of the latest bearish run from 110.08/105.19.

USD/JPY noteworthy levels

Current price is 108.11, with resistance ahead at 108.26 (Daily Classic R1). Next support to the downside can be found at 108.03 (Hourly 20 EMA), 107.93 (Daily Classic PP), 107.86 (Hourly 100 SMA) and 107.69.



Technical Studies :

Updated At - 2014-10-29 01:15:00

OPEN = 108.11  |  CLOSE = 108.12  |  HIGH = 108.15  |   LOW = 108.08
BID = 108.1  |  ASK = 108.13  |   PERCENT = 0
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Neutral

New Zealand's business confidence lifted in October
Published On :2014-10-29 01:19:00
Market :Indicators

ANZ business confidence for October registered 26.5 vs 13.4 last, while ANZ activity outlook came at 37.8 vs 37.0 last.


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FXStreet (Bali) - ANZ business confidence for October registered 26.5 vs 13.4 last, while ANZ activity outlook came at 37.8 vs 37.0 last.

Official release - ANZ

"We put September’s decline in confidence down to politics, and this month we say the same. Confidence is still well down from its February euphoria (a net 71% of firms were optimistic back then) but readings are still north of the long-run average. Excluding the bounce in headline business confidence, the remainder of the survey resembles a mouse treadling on the exercise wheel; it looks pretty familiar.

- Firms’ activity expectations were basically unchanged at +38.

- Expected profitability dropped marginally (from +19 to +17). That’s well down from the peak of +45 in February, but solid.

- Investment intentions eased from +20 to +16.

- A net 19% of businesses expect to be hiring more staff over the year ahead; that’s down 2 points on the month prior, but okay.

- Stripping out a mild seasonal element, firms’ own activity expectations, profit expectations and employment investment intentions lifted a smidgen. Life on the prairie for the average business may not be stellar but it looks solid.

- Export intentions nudged up (+22 to +25).

- Sentiment in the residential construction arena was down, but was up in the commercial sector; the levels still look reasonable.

- Pricing intentions nudged higher. A net 24% of respondents expect to be raising prices over the year ahead


BOJ easing expectations decline slightly - Nomura
Published On :2014-10-29 01:15:00
Market :Forex Flash

According to Yujiro Goto, FX Strategist at Nomura, while BOJ easing expectations remain low for this year, expected downgrades in the Japanese economy and inflation forecasts this Friday should sustain market expectations for BOJ easing into next year.


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FXStreet (Bali) - According to Yujiro Goto, FX Strategist at Nomura, while BOJ easing expectations remain low for this year, expected downgrades in the Japanese economy and inflation forecasts this Friday should sustain market expectations for BOJ easing into next year.

Key Quotes

"The BOJ is reported to be considering downgrading its growth and inflation forecasts at its meeting on Friday (Nikkei and Bloomberg) (unconfirmed). Nikkei says that the median forecast of FY2014 GDP growth among board members will be downgraded to around +0.6% from +1.0%. As the economic slowdown in Q2, after the consumption tax hike, was much more severe than expected, and the recovery in Q3 has been weak, the downgrade will not be a surprise to the market. Rather, +0.6% growth forecast for FY2014 is likely to be regarded as optimistic, because the consensus forecast has already downgraded to +0.34%. The article says the Bank is likely to keep its growth forecast into FY2015 and FY2016 largely unchanged."

"Any changes in inflation forecast will be more important for the FX market, and Bloomberg reports that the BOJ is considering changing the expression on near term inflation recovery. The Bank had previously stated in its outlook report that "(inflation will) follow a rising trend again from the second half of this fiscal year." However, the article says now the BOJ is considering deleting the expression about the reacceleration trend from the second half of this fiscal year, as oil prices declined recently. As a result, the Bank is now considering lowering not only FY2014 but also FY2015 inflation forecasts, which have been more optimistic than market consensus. A downgrade in inflation forecasts and changes in expectations of near-term inflation recovery may not necessarily suggest the Bank is ready for a near term easing, but the changes, if they are made, would be regarded as dovish, in our view."

"Market expectations for near-term additional easing by the BOJ slightly declined further, according to Bloomberg. Only 9% of BOJ watchers expect an easing this week, and 19% now expect BOJ easing by year-end. The expected downgrades in economy and inflation forecasts this Friday will sustain market expectations for BOJ easing, which have been already scaled back significantly, and any dip in USD/JPY after the meeting will likely be small."


New Zealand ANZ Business Confidence up to 26.5% in October from previous 13.4%
Published On :2014-10-29 01:00:00
Market :Indicators


Full Content

FXStreet.com (Barcelona)


New Zealand ANZ Activity Outlook increased to 37.8% in October from previous 37%
Published On :2014-10-29 01:00:00
Market :Indicators


Full Content

FXStreet.com (Barcelona)


Japan Industrial Production (YoY) rose from previous -3.3% to 0.6% in September
Published On :2014-10-29 00:52:00
Market :Indicators


Full Content

FXStreet.com (Barcelona)


Japan Industrial Production (MoM) registered at 2.7% above expectations (2.2%) in September
Published On :2014-10-29 00:50:00
Market :Indicators


Full Content

FXStreet.com (Barcelona)


FOMC: Fed expected to retain key phrases - RBS
Published On :2014-10-29 00:47:00
Market :Forex Flash

The Federal Rserve is expected to retain key phrases at today's monetary policy meeting, notes the FX Strategy Team at RBS.


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FXStreet (Bali) - The Federal Reserve is expected to retain key phrases at today's monetary policy meeting, notes the FX Strategy Team at RBS.

Key Quotes

"With the QE taper extremely likely to be completed next week, as scheduled, the forward guidance phrase “…it will likely be appropriate to maintain the current target range for the Fed Funds rate for a considerable time after the asset purchase program ends…” will need to change, at least slightly."

"We expect the “considerable time” language will be retained – the FOMC can merely remove the words “after the asset purchase program ends” and maintain the same message. Debate over the need for the phrase highlighting a “significant underutilization of labor resources” will be notable as well – we expect it to be retained as well."


AUD/JPY up to daily resistance zone on weak JPY
Published On :2014-10-29 00:36:00
Market :Foreign Exchange

AUD/JPY is trading at 95.76, down -0.03% on the day, having posted a daily high at 95.82 and low at 95.67.


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FXStreet (Barcelona) - AUD/JPY is trading at 95.76, down -0.03% on the day, having posted a daily high at 95.82 and low at 95.67.

AUD/JPY was bid on the back of a good performance in stocks in the US and shares in European markets on the rise that was weakening the Japanese currency. The cross has topped just shy of the daily resistance around the 96.00 level but has confirmed the correction of the down tend from the 98.0 handle's territory. We are now moving in on further domestic data releases from Japan in the form of the Industrial Production, and approaching showdown time in the FOMC. At the end of the week we will have the BoJ but before then we will have Employment data and Inflation numbers to deal with.

AUD/JPY noteworthy levels

Current price is 95.77, with resistance ahead at 95.78 (Daily 100 SMA) and 95.96 (R3). Next support to the downside can be found at 95.72 (Weekly Classic R1), 95.69 (Daily Classic R2), 95.67 (Daily Low), 95.52 (Hourly 20 EMA), 95.30 (Daily Classic R1), 95.00 the pivot and 94.62.



Technical Studies :

Updated At - 2014-10-29 00:30:00

OPEN = 95.76  |  CLOSE = 95.83  |  HIGH = 95.85  |   LOW = 95.75
BID = 95.82  |  ASK = 95.83  |   PERCENT = -0.08
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

USD/CHF: Potential role reversal on the hourly - 2ndSkies
Published On :2014-10-29 00:34:00
Market :Forex Flash

Chris Capre, Founder at 2ndSkies, is pointing out the potential for a role reversal setup in USD/CHF hourly chart, after the pair broke a key support area.


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FXStreet (Bali) - Chris Capre, Founder at 2ndSkies, is pointing out the potential for a role reversal setup in USD/CHF hourly chart, after the pair broke a key support area.

Key Quotes

"After forming a mild bounce off the key support at 9475, the pair slammed right through it in one hour. What is interesting is the price action after the break."

"Initially forming a bullish pin bar, the pair then reversed course and printed a bearish pin bar off the key support (now resistance). This may act as a role reversal setup so traders should watch for a potential trade."

"My only gripe with this is how the pair has printed 7 of 8 bull closes since the drop on the 1hr chart. This isn't what I'd call 'typical' for a corrective pullback, along with the wicks mostly on the downside."

"So lesser risk than usual is what I'd advise should you short it. If we see aggressive selling from there, then 9400 would be under attack. A close back above here creates a potential false break scenario."


Important USD-bullish secular shifts in train - ANZ
Published On :2014-10-29 00:11:00
Market :Forex Flash

ANZ offers their medium-term view on the USD, arguing that the USD is still likely to be one of the strongest currencies, with the bank adding that there are some important USD-bullish secular shifts in train.


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FXStreet (Bali) - ANZ offers their medium-term view on the USD, arguing that the USD is still likely to be one of the strongest currencies, with the bank adding that there are some important USD-bullish secular shifts in train.

Key Quotes

"From a medium-term perspective the main problem for risk assets remains the same: namely that both the risk and the reward continue to tilt against them. The FOMC still seems on track to gradually reduce liquidity over time, which is raising the funding costs for risk assets by making the USD more attractive and pushing front end yields in the US higher. And the ongoing structural adjustment in China and the poor growth profile for EM outside Asia is damaging the return potential for currencies in Asia and the commodity block."

"In this vein we continue to argue that the main US focus for currencies should be the front end of the bond curve, and not the long end as was the case last year. It has become increasingly clear that the long end of the US curve is influenced as much by global asset flows as it is by potential US monetary policy developments. The October fixed income ‘flash crash’ accentuates this point. There are some broader signals from that event also."

"If the deepest and most liquid financial market can post price action like on 15 October, then it highlights why we are still so puzzled that so many seem confident that other far less liquid assets, with plenty of new tourism investors, will handle the shift to tighter global liquidity in better shape. In fact one might argue that the only economic trend not upset by the financial market ructions of the past 18 months is the improving economic trajectory of the US. In this vein, the fed funds futures are now only pricing one rate hike by the end of 2015. This well and truly seems to be on the skinny side, and will become an issue for currencies once the current consolidation period has passed."

"In addition, we continue to argue that there are some important USD-bullish secular shifts in train also. In particular, the trade balance has shown an improving trend over the past few years. In this sense the current US recovery is quite unusual. It is the first recovery since the late 1990s where a domestic US upswing has not been associated with a deteriorating US trade account. The US is not, in other words, ‘exporting’ growth to the rest of the world in a way that we have been used to, but it is still acting to withdraw the liquidity to which the world has become addicted."


South Korea Current Account Balance down to 5.2B in September from previous 7.6B
Published On :2014-10-29 00:00:00
Market :Indicators


Full Content

FXStreet.com (Barcelona)


Aussie: Rise and shine - FXStreet
Published On :2014-10-28 23:56:00
Market :Forex Flash

Valeria Bednarik, chief analyst at FXStreet noted and said that the Aussie finally woke up.


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FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted and said that the AUD/USD finally woke up.

Key Quotes:

“Reaching 0.8881 against the greenback, and holding now well above the 0.8820 support as a new day starts”.

“The latest slide may have to do partially with gold late slump, as the metal gave up most of its intraday gains in the latest hours”.

“Nevertheless, the pair maintains a bullish tone as per the breakout of its latest range”.

“Technically the 1 hour chart shows a positive tone with indicators now flat above their midlines and a strong bullish 20 SMA well below current price”.

“In the 4 hours chart the picture is quite similar, with price above a flat 20 SMA and indicators now lacking strength in positive territory”.


GBP/JPY shying away from daily highs
Published On :2014-10-28 23:51:00
Market :Foreign Exchange

GBP/JPY is trading at 174.38, down -0.05% on the day, having posted a daily high at 174.55 and low at 174.37.


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FXStreet (Guatemala) - GBP/JPY is trading at 174.38, down -0.05% on the day, having posted a daily high at 174.55 and low at 174.37.

GBP/JPY has been lifted to monthly resistance here and highest levels for several weeks at 174.76 with Sterling rising with the tides as the greenback faced another bought of selling on the back of poor/mixed data releases in the early US session. However, it isn’t much of a week directly for the pound although we do have consumer sentiment coming out, but the focus will remain around the BoJ, Japanese data and FOMC.

We have already seen some decent fundamental developments for Japan with the retail sales that came in stronger than expected for the month of September that gave us 2.3% y/y and 2.7%m/m and now we await the Industrial Production. Further in we will see the Employment data and Inflation numbers before we even get to the BoJ meeting on Friday.

GBP/JPY noteworthy levels

Current price is 174.40, with resistance ahead at 174.47 (Weekly High), 174.48, 174.75 (Daily Classic R2) and 174.76. Next support to the downside can be found at 174.28 (Hourly 20 EMA), 174.27 (Daily Classic R1), 173.83 (Daily Classic PP) and 173.70.



Technical Studies :

Updated At - 2014-10-28 23:45:00

OPEN = 174.41  |  CLOSE = 174.42  |  HIGH = 174.43  |   LOW = 174.39
BID = 174.4  |  ASK = 174.43  |   PERCENT = -0.01
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

JPY: Still vulnerable but downside limited - JPMorgan
Published On :2014-10-28 23:36:00
Market :Forex Flash

JP Morgan FX Strategists are still expecting JPY to weaken due to its deteriorated fundamentals although they see the downside limited, thus they keep their target of 109 by year-end and 110 as of Q3 2015.


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FXStreet (Bali) - JP Morgan FX Strategists are still expecting JPY to weaken due to its deteriorated fundamentals although they see the downside limited, thus they keep their target of 109 by year-end and 110 as of Q3 2015.

Key Quotes

The yen has been an outperformer versus most other currencies. Behind this move are a number of cross-currents:(1) lower oil prices that might support the yen through an improving trade balance; (2) lower inflation that might undermine the yen by raising expectations of move BoJ easing; (3) more aggressive risk-taking by GPIF that weakens the yen through capital outflows; and (4) rising political uncertainty that threatens fiscal consolidation through postponement of a consumption tax hike to 10%.

On net, recent developments have little impact on our current USD/JPY call. We still believe that JPY will weaken due to its deteriorated fundamentals but downside will be limited. Thus, we remain comfortable with the current call (our target is 109 as of end-this year and 110 as of Q3 2015). However, it is fair to say that recent developments have increased uncertainties surrounding our baseline.


NZD/USD closes above 0.79 driven by USD weakness
Published On :2014-10-28 23:29:00
Market :Foreign Exchange

NZD/USD found buying interest for a third day in a row, as another round of USD selling took place on Tuesday, this time being data driven after disappointing US durable goods orders, allowing the pair to close above the 0.79 handle / 20-day EMA.


Full Content

FXStreet (Bali) - NZD/USD found buying interest for a third day in a row, as another round of USD selling took place on Tuesday, this time being data driven after disappointing US durable goods orders, allowing the pair to close above the 0.79 handle / 20-day EMA.

Going forward, and ahead of the FOMC today, and the RBNZ monetary policy announcement on Thursday, Asia will provide a light aperitive today, in the form of ANZ business confidence/activity outlook for October, unlikely to see any drastic price changes unless a major deviation with prior data seen.

Technically, despite the 2c+ bounce off 0.77 support in late Sept, the NZD still remains one of the poorest performers among G10 currencies, and the recovery currently underway has to do more with broad-based USD weakness than NZD's own merits. If bulls can keep up the bullish momentum, 0.80 looks like a logical next target, while on the downside, 0.78 appears to be next key support ahead of 0.77. Note, however, that technicals will have little bearing on potential price movements today, with volatility subject to the FOMC outcome.



Technical Studies :

Updated At - 2014-10-28 23:15:00

OPEN = 0.7921  |  CLOSE = 0.7918  |  HIGH = 0.7923  |   LOW = 0.7916
BID = 0.7917  |  ASK = 0.7918  |   PERCENT = 0.0379
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 4  |  OBO Recommendation = Neutral

EUR/JPY up on stocks yet again - FXStreet
Published On :2014-10-28 23:01:00
Market :Forex Flash

Valeria Bednarik, chief analyst at FXStreet, explained that the Yen extended its early week decline on the back of another good day among stocks, with indexes edging higher both in Europe and the US.


Full Content

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet, explained that the Yen extended its early week decline on the back of another good day among stocks, with indexes edging higher both in Europe and the US.

Key Quotes:

“Euro advanced favored a EUR/JPY jump up to current levels, stalling around a critical resistance: 100 DMA stands a couple pips above current price, alongside with the 50% retracement of the 141.21/134.13 slide”.

“Having seen practically no retracements after reaching 137.79, risk has turned towards further gains”.

“Technically, the 1 hour chart shows indicators turning flat in overbought territory, while 100 and 200 SMAs finally start to move, gaining some bullish slope well below current price”.


AUD/USD bears counting on a hawkish Yellen
Published On :2014-10-28 22:35:00
Market :Foreign Exchange

AUD/USD is trading at 0.8855 having posted a daily high at 0.8859 and low at 0.8851.


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FXStreet (Guatemala) - AUD/USD is trading at 0.8855 having posted a daily high at 0.8859 and low at 0.8851.

AUD/USD has been up to test the highest of this month business, just falling shirt of the October high of 0.8900. The pair has rallied a cent between Europe and the US, with most action to the upside coming from the durable goods orders that surprised negatively and gave the greenback bulls some resistance and puts the downside into question again. That said, we are not far off from the FOMC showdown and with a market not expecting any hawkishness, surprises there could well be a catalysts for a quick correction in the dollars recent bearishness.

AUD/USD noteworthy levels

With spot trading at 0.8855, we can see next resistance ahead at 0.8861 (Daily Classic R3), 0.8884 (Daily High), 0.8897 (Weekly Classic R2), 0.8960 (Weekly Classic R3) and 0.9164 (Daily 200 SMA). Support below can be found at 0.8844 (Weekly Classic R1), 0.8843 (Daily Classic R2), 0.8841 (Monthly High), 0.8834 (Hourly 20 EMA) and 0.8826 (Yesterday's High).



Technical Studies :

Updated At - 2014-10-28 22:30:00

OPEN = 0.8855  |  CLOSE = 0.8855  |  HIGH = 0.8858  |   LOW = 0.8854
BID = 0.8854  |  ASK = 0.8855  |   PERCENT = 0
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

Session Recap: Volatility ahead of FOMC; Key levels in EUR/USD and GBP/USD
Published On :2014-10-28 22:16:00
Market :Foreign Exchange

Usually, the day before a big event is a non-session with ranges and sideways movements in major investment instruments. However, Tuesday was a funny day with a good appetite for risk. Stocks rallied amid earnings while the Dollar was shaken by US economic data.


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FXStreet (San Francisco) - Usually, the day before a big event is a non-session with ranges and sideways movements in major investment instruments. However, Tuesday was a funny day with a good appetite for risk. Stocks rallied amid earnings while the Dollar was shaken by US economic data.

At the beginning of the American session, a weaker than expected report of US durable goods orders sent the US dollar down against major rivals; but half an hour later, an upbeat US consumer confidence gave some breath to the Greenback that was able to hold levels.

EUR/USD closed positive for third day as the pair jumped to 1.2765 before returning to 1.2730 where it closed. According to Valeria Bednarik from FXStreet, "a critical resistance stands now in the 1.2780/90 price zone where the pair stalled several times over this October, and will probably keep the upside limited until the news."

GBP/USD also posted its third day of gains as the pair consolidated levels above 1.6100 but it remains below key 1.6200. "the 1.6200 level also represents the 50% Fibonacci retracement of the Sept-Oct drop as well as the neckline to an inverted head-and-shoulder pattern," points out Matt Weller from Forex.com.

Weller affirms that "both the MACD and RSI have turned higher after bullish divergences in recent weeks, showing declining bearish momentum and hinting at a potential turn higher." Before concluding that "a daily close above critical resistance at 1.6200, a more substantial bounce toward 1.6276 (the 61.8% Fibonacci retracement), 1.6385 (the 78.6% Fibo) or 1.6530 (the measured move target of the inverted H&S pattern) may come into play next month."

In related markets, US stocks rallied amid corporate earnings with the DJIA closing above the 17,000 level. Gold was shaken in between 1,235 and 1,222 before closing positive at 1,228. WTI oil traded sideways while remaining above the $81.00.

Main headlines in the American session

US: Durable Good Orders (Sep) dropped 1.3%

Case Schiller Home Price data comes a touch weaker than estimates. Trends lower.

United States Richmond Fed Manufacturing Index: 20 (October) vs 14

US Oct consumer confidence 94.5 vs 87.0 expected

US Stocks rally amid earnings; waiting for the Fed



Technical Studies :

Updated At - 2014-10-28 22:15:00

OPEN = 1.2733  |  CLOSE = 1.2733  |  HIGH = 1.2734  |   LOW = 1.2733
BID = 1.2733  |  ASK = 1.2733  |   PERCENT = 0
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

Sterling heading for a squeeze? - TDS
Published On :2014-10-28 22:00:00
Market :Forex Flash

Analysts at TD Securities analysed the conditions surrounding the pound due to the positive GBP/USD chart developments that are attracting attention.


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FXStreet (Guatemala) - Analysts at TD Securities analysed the conditions surrounding the pound due to the positive GBP/USD chart developments that are attracting attention.

Key Quotes:

"Firstly, Cable is testing three-month trend resistance off the July high at 1.6150 today (the 40-day MA lurks just above at 1.6184– versus today’s high of 1.6183)".

"Secondly, the rebound from the October low may be forming an inverse Head & Shoulders reversal, the neckline of which (1.6157) today’s push higher has also tested"

"GBP/USD gains need more supportive spreads to counter adverse seasonal trends in the next few weeks".

"Technical factors suggest a push higher may be a “go with” move".


Greenback soft ahead of FOMC - FXStreet
Published On :2014-10-28 21:55:00
Market :Foreign Exchange

Valeria Bednarik, chief analyst at FXStreet explained that the dollar ended lower across the board.


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FXStreet (Barcelona) - Valeria Bednarik, chief analyst at FXStreet explained that the dollar ended lower across the board.

Key Quotes:

“Particularly hit against commodity currencies since early European session, with both CAD and AUD surging to fresh multi week highs”.

“As for European ones, the early session was extremely quiet ahead of US data, which ended up being quite mixed: first strong reading saw Durable Goods Orders missing expectations by far printing a whopping -1.3% for September, and triggering a dollar sell off across the board”.

“1 hour later US consumer confidence soared to a seven year high of 94.5, yet market players decided it was enough: there was almost no reaction across the forex board to this latest news, except a mild advance in USD/JPY>”.

“All eyes turned now to the FED monetary policy decision upcoming Wednesday, expected to trim the last $15B of QE and keep the wording unchanged”.


EUR/USD resting up at the 2013 lows
Published On :2014-10-28 21:50:00
Market :Foreign Exchange

EUR/USD is trading at 1.2733, up 0.27% on the day, having posted a daily high at 1.2766 and low at 1.2685.


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FXStreet (Barcelona) - EUR/USD is trading at 1.2733, up 0.27% on the day, having posted a daily high at 1.2766 and low at 1.2685.

EUR/USD has been up to test the territory where the pair has continued to fail in the month of October on a short lived spike through the 2013 lows at 1.2744, the area where the pair now oscillates. The key area if the bulls persist there after will be where the downtrend exists with a culmination of weekly R1 and the 455 DMA at 1.2800. There would need to be a significant catalyst to get there which might come from a very dovish FOMC and Yellen playing down hope of a rate hike while there is little chance that the FOMC will come with a very hawkish tone.

EUR/USD noteworthy levels

Current price is 1.2733, with resistance ahead at 1.2755 (Daily Classic R2), 1.2766 (Daily High), 1.2785 (Daily Classic R3), 1.2803 (Weekly Classic
R1) and 1.2838 (Monthly High). Next support to the downside can be found at 1.2728 (Daily 20 SMA), 1.2726 (Daily Classic R1), 1.2724 (Hourly 20 EMA), 1.2724 (Yesterday's High) and 1.2723 (Hourly 200 SMA).



Technical Studies :

Updated At - 2014-10-28 21:45:00

OPEN = 1.2734  |  CLOSE = 1.2734  |  HIGH = 1.2734  |   LOW = 1.2732
BID = 1.2733  |  ASK = 1.2734  |   PERCENT = 0
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

US Stocks rally amid earnings; waiting for the Fed
Published On :2014-10-28 21:29:00
Market :Stocks, Oil & Metals

Wall Street rallied on Tuesday as investors welcomed upbeat earnings reports and good US consumer confidence report. The Dow Jones closed above the 17,000 while the Nasdaq rose for fourth day in a row.


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FXStreet (San Francisco) - Wall Street rallied on Tuesday as investors welcomed upbeat earnings reports and good US consumer confidence report. The Dow Jones closed above the 17,000 while the Nasdaq rose for fourth day in a row.

Gold was shaken in between 1,235 and 1,222 before closing the day positive at 1,228. WTI oil traded sideways while remaining above the $81.00.

The Dow Jones jumped 187.81 points or 1.12% to finish the day at 17,005.75; the S&P 500 advanced 23.42 pts or 1.19% to close the session at 1,985.05; while the Nasdaq Composite added 78.36 pts or 1.75% to its index before closing at 4,564.29.

After hours, Facebook published an upbeat quarterly reports as the social media giant reported Q3 EPS $0.43 Adj. vs. $0.40 estimated; Q3 Revs. $3.20B vs. $3.12B expected.


USD/JPY clinches to 108.00
Published On :2014-10-28 20:10:00
Market :Foreign Exchange

The greenback is now back to the positive ground vs. the Japanese yen on Tuesday, with USD/JPY hovering over 108.00 the figure...


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FXStreet (Edinburgh) - The greenback is now back to the positive ground vs. the Japanese yen on Tuesday, with USD/JPY hovering over 108.00 the figure.

USD/JPY all eyes on the FOMC

Spot managed well to retrace almost the whole drop to the 107.70 region post-Durable Goods, now treading water around the 108.00 handle as markets are drawing to a close. Moving towards Wednesday’s Asian session, advanced Industrial Production figures in Japan are due, with consensus expecting a 2.2% gain during September. In the meantime, the FOMC meeting will take centre stage, with investors expecting the Fed to announce the end of the bond-buying programme started two years ago. In the view of Shaun Osborne, Chief FX Strategist at TD Securities, “It is possible that the mid-October rebound is no more than a consolidation of the 110/105 drop (potential bear flag signal in development). Look for renewed weakness in the USD below 107.25/35 in the next few days”.

USD/JPY levels to watch

At the moment the pair is up 0.24% at 108.08 with the next hurdle at 108.38 (high Oct.27) followed by 108.74 (high Oct.8) and then 109.08 (76.4% of 110.09-105.20). On the downside, a break below 107.64 (Kijun Sen) would open the door to 107.61 (low Oct.27) and finally 107.39 (high Oct.20).



Technical Studies :

Updated At - 2014-10-28 20:00:00

OPEN = 108.08  |  CLOSE = 108.11  |  HIGH = 108.13  |   LOW = 108.08
BID = 108.11  |  ASK = 108.15  |   PERCENT = -0.02
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Neutral

CAD and Keystone pipeline key amongst US midterm elections - BAML
Published On :2014-10-28 19:56:00
Market :Forex Flash

Ian Gordon, FX Strategist at Bank of America Merrill Lynch explained that the US midterm elections are a week away.


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FXStreet (Barcelona) - Ian Gordon, FX Strategist at Bank of America Merrill Lynch explained that the US midterm elections are a week away.

Key Quotes:

“It is hard to tell, as markets have had other macro risks on their mind recently”.

" Polls suggest the Republicans are likely to take over the Senate, giving them control of both Chambers of Congress while there is a 61% chance Republicans will take over the Senate according to a recent poll from Fivethirtyeight (see full report for footnote)1]."

"Our economics team argues the election is likely to have a small impact on the economy, as we expect very few legislative breakthroughs to result even if the Republicans are successful in taking the Senate. President Barack Obama has two more years in office, so the US will still be divided, dampening hopes for an end to Congressional paralysis."

"However, prospects for the long-awaited Keystone pipeline would improve with a GOP victory. Bottom line: CAD would be supported short-term with Keystone's passage, but we do not see it as a long-term game changer. Canadian producers have found alternative means of transport as Keystone has languished, relieving the once acute supply disruptions, and dampening the longer-run currency impact."


USD/CAD unable to recover the 1.1200 level
Published On :2014-10-28 19:48:00
Market :Foreign Exchange

The USD/CAD's rebound at 1.1165 was stopped at the 1.1195 area where the pair found new selling interest that sent the unit back to 1.1185.


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FXStreet (San Francisco) - The USD/CAD's rebound at 1.1165 was stopped at the 1.1195 area where the pair found new selling interest that sent the unit back to 1.1185.

Earlier in the day, the USD/CAD completed a 90-pips decline from yesterday's maximum at 1.1250 to today's provisional lowest at 1.1165. Currently, USD/CAD is trading at 1.1191, down 0.50% on the day, having posted a daily high at 1.1255 and low at 1.1165.

The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.

USD/CAD level

If the pair extends rejection of 1.1195, it will find supports at 1.1165, 1.1150 and 1.1090. To the upside, resistances are at 1.1195, 1.1250 and 1.1290.



Technical Studies :

Updated At - 2014-10-28 19:45:00

OPEN = 1.1191  |  CLOSE = 1.1192  |  HIGH = 1.1194  |   LOW = 1.1188
BID = 1.1191  |  ASK = 1.1192  |   PERCENT = -0.0089
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bearish  |   Strength = -3  |  OBO Recommendation = Neutral

EUR expected to trend lower - Scotiabank
Published On :2014-10-28 19:42:00
Market :Forex Flash

Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that EUR has climbed higher today; but continues to lack conviction and commented on the European data.


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FXStreet (Barcelona) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that EUR has climbed higher today; but continues to lack conviction and commented on the European data.

Key Quotes:

“Data today was vaguely encouraging but not top tier”.

"Germany released stronger than expected import prices, rising 0.3%m/m; Spain released an increase in mortgage lending; and Italy’s business confidence improved. However the core release for the Eurozone this week is Friday’s flash CPI estimate, expected to rise 0.4%y/y on headline; followed by next week’s ECB meeting."

"Yesterday the ECB disclosed that they had purchased 1.7bn of covered bonds, relatively close to expectations”.

“We expect EUR to trend lower over time, closing the year at 1.2501."

"EUR/USD short‐term technicals: mixed—technical studies lack conviction with several of them pointing in opposite directions”

“A close above 1.2715 would open up a test to 1.2820."


EUR/USD flat lining around 1.2750
Published On :2014-10-28 19:17:00
Market :Foreign Exchange

EUR/USD keeps consolidating in the nid-1.2700s after posting intraday peaks in the boundaries of 1.2770...


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FXStreet (Edinburgh) - EUR/USD keeps consolidating in the nid-1.2700s after posting intraday peaks in the boundaries of 1.2770.

EUR/USD focus on the Fed

The pair is clinging to the upper end of the intraday range on Tuesday around 1.2740/50, attempting the usual consolidative pattern pre-FOMC meeting. The demand for the European currency got extra oxygen after US Durable Goods Orders disappointed investors during September, despite the improved reading from the Consumer Confidence. According to Camilla Sutton, Chief FX Strategist at Scotiabank, “technical studies lack conviction with several of them pointing in opposite directions. We see this as further evidence that EUR is in the midst of a period of range trading; with near-term support at Thursday’s low of 1.2614 and resistance at the October 21 low of 1.2715, a close above which would open up a test to 1.2820”.

EUR/USD levels to consider

At the moment the pair is advancing 0.35% at 1.2743 with the next hurdle at 1.2784 (hourly high Oct.21) ahead of 1.2841 (high Oct.21) and then 1.2845 (high Oct.16). On the flip side, a break below 1.2665 (low Oct.27) would open the door to 1.2656 (61.8% of 1.2614-1.2723) and finally 1.2635 (low Oct.24).



Technical Studies :

Updated At - 2014-10-28 19:15:00

OPEN = 1.2744  |  CLOSE = 1.2744  |  HIGH = 1.2746  |   LOW = 1.2743
BID = 1.2744  |  ASK = 1.2744  |   PERCENT = 0
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Neutral

AUD/USD downside risks deteriorating
Published On :2014-10-28 19:13:00
Market :Foreign Exchange

AUD/USD is trading at 0.8859, up 0.64% on the day, having posted a daily high at 0.8884 and low at 0.8795.


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FXStreet (Barcelona) - AUD/USD is trading at 0.8859, up 0.64% on the day, having posted a daily high at 0.8884 and low at 0.8795.

AUD/USD continues to bring in bullish scores on the board with yet a further advancement on the 0.88 handle. The pair spiked along with other majors vs the dollar on the back of the weak durable goods numbers to 0.8880 resistance and the aforementioned high and settled back on the consumer confidence results that were positive.

With such advancements it put the downside into question for the time being, until at least we hear from Yellen who obviously will note that a rate rise has to come at some point next year, but may retain a dovish tone so not to rattle the markets.

AUD/USD noteworthy levels

With spot trading at 0.8859, we can see next resistance ahead at 0.8861 (Daily Classic R3), 0.8884 (Daily High), 0.8897 (Weekly Classic R2), 0.8960 (Weekly Classic R3) and 0.9164 (Daily 200 SMA). Support below can be found at 0.8844 (Weekly Classic R1), 0.8843 (Daily Classic R2), 0.8841 (Monthly High), 0.8834 (Hourly 20 EMA) and 0.8826 (Yesterday's High).



Technical Studies :

Updated At - 2014-10-28 19:00:00

OPEN = 0.8858  |  CLOSE = 0.8856  |  HIGH = 0.8861  |   LOW = 0.8854
BID = 0.8855  |  ASK = 0.8856  |   PERCENT = 0.0226
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Neutral

United States 2-Year Note Auction fell from previous 0.589% to 0.425%
Published On :2014-10-28 18:48:00
Market :Indicators


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FXStreet.com (Barcelona)


GBP/USD technically range bound - Scotiabank
Published On :2014-10-28 18:37:00
Market :Forex Flash

Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explains the technical conditions surrounding GBP/USD.


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FXStreet (Barcelona) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explains the technical conditions surrounding GBP/USD.

Key Quotes:

"GBP/USD short‐term technicals: mixed—like most currencies near‐term technical studies are lacking conviction and pointing in different directions; suggesting the outlook is likely somewhat range bound in the near‐term. Support lies at 1.6080 and resistance lies at 1.6180”.


USD/JPY oscillates at key 108 handle
Published On :2014-10-28 18:23:00
Market :Foreign Exchange

USD/JPY is trading at 108.08, up 0.24% on the day, having posted a daily high at 108.19 and low at 107.69.


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FXStreet (Barcelona) - USD/JPY is trading at 108.08, up 0.24% on the day, having posted a daily high at 108.19 and low at 107.69.

USD/JPY has been on a ninety-pip escapade around today around the US data that delivered disappointing durable goods -1.3% vs 0.5 consensus. However, there was a vast improvement in consumer confidence in respect of what had been expected 94.5 vs 87.0 which dampened attempts to the downside. Meanwhile, we had good fundamental developments overnight in Japan that were encouraging with the retail sales that came in stronger than expected for the month of September that gave us 2.3% y/y and 2.7%m/m.

This week is a busy week for Japan on the calendar with Industrial Production, Employment, and Inflation before we have the BoJ meeting on Friday. We have already seen how the weak yen has helped the outlook of the Japanese exports that arrived the highest in several months in the last trade balance figures.

Overall, the market is still bullish on the greenback, and 108 is acting as a key level with the pair oscillating in it’s territory. If there is to be a deeper move to the downside, 106.50 is the 38.2% Fibonacci retracement of the Jul 17-Oct 1 rally and may act as a key support for the pair while there is probably less reward to be had to the upside presently.

USD/JPY noteworthy near term levels

Spot is presently trading at 108.08, and next resistance can be seen at 108.19 (Daily High), 108.26 (Daily Classic R1), 108.27 (Weekly High), 108.37 (Yesterday's High) and 108.69 (Daily Classic R2). Next support to the downside can be found at 107.94 (Hourly 20 EMA), 107.93 (Daily Classic PP), 107.82 (Daily Open), 107.79 (Hourly 100 SMA) and 107.69 (Daily Low).



Technical Studies :

Updated At - 2014-10-28 18:15:00

OPEN = 108.09  |  CLOSE = 108.1  |  HIGH = 108.11  |   LOW = 108.05
BID = 108.08  |  ASK = 108.09  |   PERCENT = -0.01
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Neutral

GBP/USD back from highs
Published On :2014-10-28 18:20:00
Market :Foreign Exchange

The sterling is losing the grip at the moment, pushing GBP/USD back to the mid-1.6100s on Tuesday...


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FXStreet (Edinburgh) - The sterling is losing the grip at the moment, pushing GBP/USD back to the mid-1.6100s on Tuesday.

GBP/USD capped at 1.6180

After hitting multi-day peaks in the vicinity of 1.6180 during the European afternoon, spot is now losing momentum and re-testing the 1.6155/50 band. Despite the current knee-jerk, the pair remains well poised ahead of the FOMC statement due tomorrow, where the broad consensus expects the Fed to terminate QE3. Next of relevance in the UK economy, Consumer Credit, M4 Money Supply, Mortgage Approvals and public sector finance figures are due tomorrow.

GBP/USD levels to consider

As of writing the pair is up 0.21% at 1.6154 and a breakout of 1.6186 (high Oct.21) would target 1.6199 (50% of 1.6524-1.5873) and then 1.6226 (high Oct.9). On the downside, the immediate support lines up at 1.6083 (low Oct.27) ahead of 1.6063 (Tenkan Line) and then 1.6018 (low Oct.24).



Technical Studies :

Updated At - 2014-10-28 18:15:00

OPEN = 1.6155  |  CLOSE = 1.6153  |  HIGH = 1.6156  |   LOW = 1.6151
BID = 1.6152  |  ASK = 1.6154  |   PERCENT = 0.0124
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

Fundamentals remain key for Asian currencies - UBS
Published On :2014-10-28 18:20:00
Market :Forex Flash

Asian currencies have remained fairly resilient despite the heightened volatility in financial markets, according to the UBS analyst team.


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FXStreet (Córdoba) - Asian currencies have remained fairly resilient despite the heightened volatility in financial markets, according to the UBS analyst team.

Key Quotes


“We expect economic fundamentals to remain the key driver for Asian currencies, rather than sentiment swings from risk-on to risk-off”.

“To reflect changing fundamentals, we make several adjustments to our intra-Asia currency preferences. We maintain the INR and PHP as most preferred, but lower the CNY to neutral (from most preferred) as we believe the PBoC may resist further currency strength”.


GBP/USD back from highs
Published On :2014-10-28 18:15:00
Market :Foreign Exchange

The sterling is losing the grip at the moment, pushing GBP/USD back to the mid-1.6100s on Tuesday.///


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FXStreet (Edinburgh) - The sterling is losing the grip at the moment, pushing GBP/USD back to the mid-1.6100s on Tuesday.

GBP/USD capped at 1.6180

After hitting multi-day peaks in the vicinity of 1.6180 during the European afternoon, spot is now losing momentum and re-testing the 1.6155/50 band. Despite the current knee-jerk, the pair remains well poised ahead of the FOMC statement due tomorrow, where the broad consensus expects the Fed to terminate QE3. Next of relevance in the UK economy, Consumer Credit, M4 Money Supply, Mortgage Approvals and public sector finance figures are due tomorrow.

GBP/USD levels to consider

As of writing the pair is up 0.21% at 1.6154 and a breakout of 1.6186 (high Oct.21) would target 1.6199 (50% of 1.6524-1.5873) and then 1.6226 (high Oct.9). On the downside, the immediate support lines up at 1.6083 (low Oct.27) ahead of 1.6063 (Tenkan Line) and then 1.6018 (low Oct.24).



Technical Studies :

Updated At - 2014-10-28 18:15:00

OPEN = 1.6155  |  CLOSE = 1.6154  |  HIGH = 1.6156  |   LOW = 1.6153
BID = 1.6153  |  ASK = 1.6154  |   PERCENT = 0.0062
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

EUR/USD steadies at 1-week highs
Published On :2014-10-28 17:34:00
Market :Foreign Exchange

Following some choppy moves triggered by US data releases, EUR/USD steadied at 1-week highs above 1.2730 and entered a quieter phase as investors’ attention turns to the FOMC meeting tomorrow.


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FXStreet (Córdoba) - Following some choppy moves triggered by US data releases, EUR/USD steadied at 1-week highs above 1.2730 and entered a quieter phase as investors' attention turns to the FOMC meeting tomorrow.

EUR/USD rallied and reached its highest level in a week at 1.2764 but lost momentum and pulled back as the greenback recovered ground across the board. However, with the setback being contained by the 1.2720 zone, the pair was confined to a consolidation period. At time of writing, EUR/USD is trading at 1.2745, recording a 0.38% gain on the day.

EUR/USD technical levels


As for technical levels, immediate resistances could be found at 1.2764 (Oct 28 high), 1.2790 (Oct 9 high) and 1.2839 (Oct 21 high). On the flip side, supports are seen at 1.2683 (Oct 28 low), 1.2665 (Oct 27 low) and 1.2634 (Oct 24 low).



Technical Studies :

Updated At - 2014-10-28 11:15:00

OPEN = 1.2697  |  CLOSE = 1.2698  |  HIGH = 1.27  |   LOW = 1.2697
BID = 1.2744  |  ASK = 1.2745  |   PERCENT = -0.0079
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

EUR/JPY extends gains above 137.50
Published On :2014-10-28 17:18:00
Market :Foreign Exchange

The EUR/JPY is trading at its highest level since Oct. 9 around 137.70 after an upward movement of 80 pips from 136.90 operated overnight. The EUR/JPY is posting gains for the third day in the last four and is extending the recovery from the October 23 lows at 135.20.


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FXStreet (San Francisco) - The EUR/JPY is trading at its highest level since Oct. 9 around 137.70 after an upward movement of 80 pips from 136.90 operated overnight. The EUR/JPY is posting gains for the third day in the last four and is extending the recovery from the October 23 lows at 135.20.

Currently, EUR/JPY is trading at 137.67, up 0.54% on the day, having posted a daily high at 137.70 and low at 136.85. The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.

EUR/JPY levels

If the pair extends gains above October 9's highs at 137.75, it will find next resistances at Oct. 8 high at 137.90 and then 138.00. To the downside, supports are at 137.40, 137.00 and 136.60.



Technical Studies :

Updated At - 2014-10-28 17:15:00

OPEN = 137.7  |  CLOSE = 137.75  |  HIGH = 137.83  |   LOW = 137.68
BID = 137.7  |  ASK = 137.7  |   PERCENT = -0.04
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Overbought

Tensions stacking up between UK and Brussels – Investec
Published On :2014-10-28 17:16:00
Market :Forex Flash

Jonathan Pryor, Corporate Treasury Analyst at Investec notes the rift between the UK and Brussels over the EU payment deadline.


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FXStreet (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec notes the rift between the UK and Brussels over the EU payment deadline.

Key Quotes:

"The EU's budget chief, Jacek Dominik, warned Prime Minister David Cameron that it would be difficult for the UK to extend its December 1st deadline to make the requested and widely publicised £1.7 billion payment to the EU budget. Mr Dominik said that under current budget rules, there would need to be an amendment of the current EU budget legislation, which would need the backing of a special majority of member states."

"More bureaucracy from Brussels after PM Cameron refused last week to meet the EU payment deadline, believing the economic performance charge was sprung on him. The rift continues to grow between the UK and Brussels, with the press reporting this morning that the EU payment fiasco has increased anti-EU party UKIP's support even further."


Focus is on fiscal EZ policy - BBH
Published On :2014-10-28 17:08:00
Market :Forex Flash

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained that this week is all about fiscal policy in the Eurozone.


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FXStreet (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained that this week is all about fiscal policy in the Eurozone.

Key Quotes:

"The ECB meets next week, but this week is all about fiscal policy in the Eurozone. As early as today, the EC is expected to respond to the additional information it has received from several countries, especially France and Italy, the second and third largest economies in EMU."

"There are market rumors that France and Italy may have agreed to additional savings measures that will likely avoid a conflict”.

“Earlier talk suggested that Germany was keen to avoid a major confrontation, and there have been more reports that the rise in the AfD may limit Merkel's perceived options."


GBP/USD continuing to the 1.6180 resistance in fashion
Published On :2014-10-28 16:59:00
Market :Foreign Exchange

GBP/USD is trading at 1.6163, up 0.27% on the day, having posted a daily high at 1.6184 and low at 1.6088.


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FXStreet (Guatemala) - GBP/USD is trading at 1.6163, up 0.27% on the day, having posted a daily high at 1.6184 and low at 1.6088.

GBP/USD continues on to impress in fashion, now with an advancement up to challenge the 1.6180 resistance area. Positions are being put back on into sterling despite the disinflationary environment and wages outlook in the UK’s labour market. US data has been disappointing in some areas this week, with first the US pending home sales growing just 0.3% in September versus the 0.5% gain expected. And then today, terrible durable goods -1.3% vs 0.5 consensus. However, there was a vast improvement in consumer confidence in respect of what had been expected 94.5 vs 87.0, but which only left the pair a little worse off.

Karen Jones, chief analyst at Comemzbank explained yesterday that immediate resistance is offered by the 23.6% retracement at 1.6184 and she added that if Sterling is capped here then the negative bias remains. “We continue to target the 1.5855 November 2013 low”.

GBP/USD noteworthy near term levels

With spot trading at 1.6164, we can see next resistance ahead at 1.6184 (Daily High), 1.6185 (Weekly Classic R1 / Daily Classic R2), 1.6222 (Daily Classic R3) and 1.6241. Support below can be found at 1.6153 (Daily Classic R1), 1.6149, 1.6123 (Hourly 20 EMA) and 1.6120 (Daily 20 SMA).



Technical Studies :

Updated At - 2014-10-28 11:30:00

OPEN = 1.6112  |  CLOSE = 1.6113  |  HIGH = 1.6116  |   LOW = 1.611
BID = 1.6151  |  ASK = 1.6152  |   PERCENT = -0.0062
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

United States 4-Week Bill Auction down to 0.02% from previous 0.03%
Published On :2014-10-28 16:34:00
Market :Indicators


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FXStreet.com (Barcelona)


Fed's QE3 end would boost confidence in global recovery - Jameel Ahmad
Published On :2014-10-28 16:31:00
Market :Forex Flash

In the opinion of Jameel Ahmad, Fed's decision to finalize QE3 at the monetary policy meeting on Wednesday would strengthen confidence in the global economic recovery and indicate that the central bank is moving towards normalizing policy.


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FXStreet (Łódź) - In the opinion of Jameel Ahmad, Fed's decision to finalize QE3 at the monetary policy meeting on Wednesday would strengthen confidence in the global economic recovery and indicate that the central bank is moving towards normalizing policy.

Key quotes

"But that doesn’t mean they will be raising interest rates anytime soon. If Janet Yellen reminds us just how tentative the US economic recovery has been, and says that the labour market and other aspects of the economy continues to underperform then this should drive home the fact that the Federal Reserve will not be turning hawkish."

"If the Fed really wants to devalue the USD, they could throw a curveball by suggesting a fourth round of QE remains an option. This would spell out to investors that the Fed are still not satisfied with the US economy and dismiss any remaining expectations for a rise in interest rates."

"Saying that, and although James Bullard caused a stir by suggesting QE should be continued if inflation targets become unattainable, last week’s better than expected CPI release seemed to dismiss fears the Fed would continue with QE."

"Should the USD weaken in response to the Fed’s action, potential appreciation in Gold is likely. However, pairs such as the USD/JPY, USD/CAD and USD/CHF look over extended right now and if there is USD weakness, opportunities for a pullback in these pairs are high."

"Although the USD/JPY has already commenced the week by pulling back over 50 pips, the stochastic oscillator still appears heavily overbought and further downside moves will find support at 107.420, 106.870 and 106."


USD/CAD trading heavily again on Tuesday - TD Securities
Published On :2014-10-28 16:25:00
Market :Forex Flash

The TD Securities team of analysts observe that the greenback is dropping against the CAD on Tuesday, pushing a little below last week’s low.


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FXStreet (Łódź) - The TD Securities team of analysts observe that the greenback is dropping against the CAD on Tuesday, pushing a little below last week’s low.

Key quotes

"Note that short-term trend momentum is picking up modestly so we cannot rule out more downside pressure near-term."

"But we are far from sure that today’s move will extend too far. We had rather thought the market would remain in a 1.12/1.13 range but risks may be shifting towards a 1.1150/1.1250 range trade unfolding from here."

"USD/CAD looks soft on the daily chart as well and, with the noted weakness on the weekly chart last week after the drop back from the upper 1.12s, there is a bit of a weak USD/CAD 'theme' unfolding across the charts."

"While an alignment of signals across a range of timeframes is usually something we pay attention to, a more mixed picture on the oscillators (bearish short-term, neutral medium-term, bullish USD/CAD on the longer termstudies) suggests choppy range trade, with a bias lower, rather than a sharp drop in the USD from here—for the moment. The 200-day MA support stands at 1.1116 currently."


USD/CAD falls sharply below 1.1200
Published On :2014-10-28 16:16:00
Market :Foreign Exchange

Weighed by disappointing US durable goods orders, USD/CAD broke below 1.1200 and fell to its lowest level in nearly 3 weeks at the beginning of the New York session.


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FXStreet (Córdoba) - Weighed by disappointing US durable goods orders, USD/CAD broke below 1.1200 and fell to its lowest level in nearly 3 weeks at the beginning of the New York session.

Better-than-expected US consumer confidence and Richmond Fed data did little to help the greenback versus the loonie. The Canadian dollar, was already among the best performers on Tuesday, supported by the rise in stocks and higher oil prices.

USD/CAD sharpened losses during the American session and stretched to a low of 1.1166 before finding support. At time of writing, USD/CAD was trading at the 1.1170 area, recording a 0.67% loss on the day.

USD/CAD levels to watch

On the downside, if USD/CAD breaks decisively below the 1.1166/60 zone (Oct 28 & 10 lows), next supports could be found at 1.1126 (Oct 7 low) and 1.1110 (Oct 6 low). On the other hand, resistances on bounces are seen at 1.1213 (21-day SMA) and 1.1252 (Oct 28 high).



Technical Studies :

Updated At - 2014-10-28 16:15:00

OPEN = 1.1168  |  CLOSE = 1.117  |  HIGH = 1.1172  |   LOW = 1.1166
BID = 1.117  |  ASK = 1.1171  |   PERCENT = -0.0179
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bearish  |   Strength = -2  |  OBO Recommendation = Oversold

ECB's Noyer emphasizes lack of consent for below-target inflation
Published On :2014-10-28 16:05:00
Market :Central Banks

ECB Governing Council member Christian Noyer said on Tuesday in a speech before the French Senate that the central bank wouldn't come to terms with inflation holding stubbornly below the 2% objective.


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FXStreet (Łódź) - ECB Governing Council member Christian Noyer said on Tuesday in a speech before the French Senate that the central bank wouldn't come to terms with inflation holding stubbornly below the 2% objective.

"We do not passively accept at the ECB that inflation is too weak in relation to our target," he stressed.

Noyer remarked that according to estimates Eurozone CPI would grow by approximately 0.6% at the end of 2014.

According to Adam Button from ForexLive, the ECB might not be able to do much more to boost inflation, despite the declarations: "Corporate bonds are on the agenda now but sovereign QE is a tough sell. If it’s blocked, there’s not much the ECB can do besides ‘accepting’ low inflation or badgering governments to do something to stimulate growth."


VIX futures continue to decline
Published On :2014-10-28 15:50:00
Market :Stocks, Oil & Metals

The S&P 500 VIX futures extended their decline today as the uncertainty in the financial markets continues to decline this week.


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FXStreet (Mumbai) - The S&P 500 VIX futures extended their decline today as the uncertainty in the financial markets continues to decline this week.

The S&P 500 VIX November futures are trading 2.07% lower at 16.53. Moreover, the futures are down more than 29% from the high of 23.50 hit on Oct. 16th. Since then, the financial markets in the US have recovered on strong corporate earnings and fall in the global economic uncertainty.

Moreover, the US consumer confidence data at 7-year highs is likely to see a further decline in the VIX futures. However, the futures may find support as the investors turn cautious ahead of the Federal Reserve meet results due tomorrow.

S&P 500 VIX futures Technical levels

The futures have an immediate support at 16.10 (Oct 2nd low), under which it can fall to 15.20 levels. On the flip side, resistance levels are seen at 16.75 (Oct 22nd low) and 17.30 (Oct 2nd high).


Gold erases gains
Published On :2014-10-28 15:34:00
Market :Stocks, Oil & Metals

Gold prices fell-off the day’s high after the release of the US consumer confidence data, which hit a 7-year high in October.


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FXStreet (Mumbai) - Gold prices fell-off the day’s high after the release of the US consumer confidence data, which hit a 7-year high in October.

Gold is back at USD 1229/Oz levels, trading just 0.03% higher for the day. Moreover, the prices had hit a high of USD 1235/Oz levels after the Durable goods orders data, at -1.5%, missed the market expectation of a 0.5% gain. However, the metal failed to capitalize on the gains taking cues from the resilient US Equity markets and the Treasury yields. The yellow metal lost its gains after the Consumer confidence in October blew past market expectation of 87.00, to print higher at 94.5.

Meanwhile, the US ten-year yields are trading near the day’s high of 2.296%. However, the stock markets are more or less unchanged post the release of the Consumer confidence data.

Gold Technical levels

Gold has an immediate resistance at 1235.20 while the immediate support is located at 1227.00. A breach on either side shall open doors for a re-test of 1242 or 1220 levels respectively.


AUD/USD slapped at 0.8880
Published On :2014-10-28 15:29:00
Market :Foreign Exchange

The Aussie's advance from 0.8820 against the US Dollar was stopped at 0.8880 where the pair found some selling interest that sent the AUD/USD back to 0.8840.


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FXStreet (San Francisco) - The Aussie's advance from 0.8820 against the US Dollar was stopped at 0.8880 where the pair found some selling interest that sent the AUD/USD back to 0.8840.

Currently, AUD/USD is trading at 0.8854, up 0.58% on the day, having posted a daily high at 0.8884 and low at 0.8795. AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.

AUD/USD levels

If the pair extends rejection below 0.8850, it will find supports at 0.8830, 0.8790 and 0.8740. Resistances to the upside are at 0.8880, 0.8900 and 0.8920.



Technical Studies :

Updated At - 2014-10-28 15:15:00

OPEN = 0.8852  |  CLOSE = 0.8854  |  HIGH = 0.8858  |   LOW = 0.8847
BID = 0.8853  |  ASK = 0.8854  |   PERCENT = -0.0226
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

USD/JPY recoups ground but lacks momentum
Published On :2014-10-28 15:21:00
Market :Foreign Exchange

USD/JPY bounced from fresh daily lows and regained the 108 mark following another round of more supportive US data.


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FXStreet (Córdoba) - USD/JPY bounced from fresh daily lows and regained the 108 mark following another round of more supportive US data.

US consumer confidence index rose to 94.5 in October versus 87 expected. Meanwhile, the Richmond Fed manufacturing index rose to 20 in October against 14 printed the previous month.

USD/JPY extended its recovery from a low of 107.68 but stalled a few pips ahead of previous daily highs. At time of writing, the pair is trading at the 108.05 zone, 0.23% above its opening price.

USD/JPY technical levels

In terms of technical levels, USD/JPY could find immediate resistances at 108.16 (Oct 28 high), 108.33 (Oct 27 high) and 108.73 (Oct 8 high). On the flip side, supports are seen at 107.58 (Oct 27 low), 107.38 (Oct 20 high) and 107.14 (10-day SMA).



Technical Studies :

Updated At - 2014-10-28 10:30:00

OPEN = 107.97  |  CLOSE = 107.99  |  HIGH = 108  |   LOW = 107.96
BID = 107.98  |  ASK = 107.99  |   PERCENT = -0.01
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

European currencies advance against USD on weak US Durable Goods - FXStreet
Published On :2014-10-28 15:20:00
Market :Forex Flash

FXStreet Chief Analyst Valeria Bednarik points out that following the release of weaker than expected US Durable Goods data for September European currencies accelerated higher against the dollar.


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FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that following the release of weaker than expected US Durable Goods data for September European currencies accelerated higher against the dollar.

Key quotes

"Having been confined to tight ranges, dollar selloff seems larger than it actually easy on a first glance, yet its weakness is undeniable."

"As for the EUR/USD, the hourly chart shows price at fresh highs above 1.2750 and above its moving averages that remain pretty horizontal due to latest range, while indicators aim higher above their midlines."

"In the 4 hours chart, RSI turned higher above its midline, having found intraday support in a mild bullish 20 SMA now around 1.2670. Immediate resistance comes at the 1.2780/90 area, with a break above probably fueling the run up to recent highs in the 1.2840 price zone."


Ten-Treasury yields at day’s high after Consumer Confidence spikes to 7-year high
Published On :2014-10-28 15:18:00
Market :Macro

The treasury yields across the short end and the long end of the bond market curve have inched higher after the US Consumer Confidence for October came-in at a 7-year high.


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FXStreet (Mumbai) - FXStreet (Barcelona) - The treasury yields across the short end and the long end of the bond market curve have inched higher after the US Consumer Confidence for October came-in at a 7-year high.

The Ten-year treasury yields are trading at a day’s high of 2.296% after the US consumer confidence in October printed in 94.5, compared to the expectation of 87. The confidence index has come-in at a 7-year high despite the fears of a global economic slowdown, Ebola fears. "A more favorable assessment of the current job market and business conditions contributed to the improvement in consumers’ view of the present situation," said Lynn Franco of the Conference Board.

Moreover, the ten-year yield remained resilient despite a surprise fall in the Durable goods orders in September. Meanwhile, the two-year yield has inched higher to 0.394%.

Ten-year yield Technical level

The yield has an immediate resistance of 2.3%, above which it can rise to 2.348%. On the flip side, yields may decline to 2.22% if the immediate support of 2.25% is breached.


EUR/USD deflates from highs
Published On :2014-10-28 15:18:00
Market :Foreign Exchange

Quite volatile moments for EUR/USD now, coming down from session peaks beyond 1.2760 to test 1.2720 so far...


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FXStreet (Edinburgh) - Quite volatile moments for EUR/USD now, coming down from session peaks beyond 1.2760 to test 1.2720 so far.

EUR/USD lower on better US confidence

The pair gave away earlier gains after the US Consumer Confidence surprised investors to the upside for the present month, advancing to 94.5 vs. 87 expected and up from September’s 89. Further data showed the S&P/Case-Shiller index rose 5.6% on a yearly basis, missing forecasts for a 5.8% advance. Strategists at TD Securities observed “the weekly chart supports the impression from the dailies of a stalled move lower but there is little or no indication here that EURUSD can recover much ground in the months ahead”.

EUR/USD levels to watch

At the moment the pair is advancing 0.22% at 1.2727 with the next hurdle at 1.2784 (hourly high Oct.21) ahead of 1.2841 (high Oct.21) and then 1.2845 (high Oct.16). On the flip side, a break below 1.2665 (low Oct.27) would open the door to 1.2656 (61.8% of 1.2614-1.2723) and finally 1.2635 (low Oct.24).



Technical Studies :

Updated At - 2014-10-28 11:15:00

OPEN = 1.2697  |  CLOSE = 1.2698  |  HIGH = 1.27  |   LOW = 1.2697
BID = 1.2744  |  ASK = 1.2745  |   PERCENT = -0.0079
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

USD/JPY expected to continue holding above 105.52 - RBS
Published On :2014-10-28 15:15:00
Market :Forex Flash

Dmytro Bondar, Technical Analyst at RBS suggests that USD/JPY should continue trading above the key support level of 105.52.


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FXStreet (Łódź) - Dmytro Bondar, Technical Analyst at RBS suggests that USD/JPY should continue trading above the key support level of 105.52.

Key quotes


"The USD/JPY has accomplished its correction, which we anticipated after reaching the 109.30 target, as our key support level of 105.52 held on close and dips offered buying opportunities for 112.00 and more upside targets."

"The level was not only 50% swing extension of the 2013 impulse wave and 2013 – 2014 high lie, but also the Ichimoku cloud support."

"I believe the pair will continue to hold above 105.52 and Ichimoku cloud, as our targets of 109.30 and 112.00 remain intact. A break through the cloud cancels the view."


DJIA gains 0.30%
Published On :2014-10-28 15:03:00
Market :Stocks, Oil & Metals

The US Equity markets have opened higher, in line with the action witnessed the gains in the European equity markets. The negative Durable goods number released earlier today has failed to have a big impact on the stock markets.


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FXStreet (Mumbai) - The US Equity markets have opened higher, in line with the action witnessed the gains in the European equity markets. The negative Durable goods number released earlier today has failed to have a big impact on the stock markets.

The DJIA is trading 0.33% higher at 16,873.50 levels. The index breadth is positive with an advance decline ratio of 24:6. Among the index stocks, Merck&Co is trading 1.64% lower after it reported the disappointing sales of its Gardasil cervical cancer vaccine. The stock had tumbled 2% yesterday. Meanwhile, the biggest chemical maker by market value, Dupont share price is trading 0.30% up, despite reporting a surprise drop in the third-quarter sales. On the other hand, Caterpillar and Intel share prices are trading higher by 1.69% and 1.16% respectively.

Moreover, the stock markets in the US may extend rally if the consumer confidence number for October due later in the day manages to surpass the expected print of 87.00.

DJIA Technical levels
The index has an immediate support at 16,800 levels, below which the prices can drop to 16,652 levels. On the other hand, the index may extend gains to 17,000 levels if the immediate resistance of 16,900 is breached.


US: Consumer Confidence improves to 94.5 in October, against forecasts
Published On :2014-10-28 15:02:00
Market :Forex Flash

US Consumer Confidence jumped to 94.5 in October, from 89.0 in November, according to data released by the Conference Board. Analysts expected a drop to 87.0.


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FXStreet (Łódź) - US Consumer Confidence jumped to 94.5 in October, from 89.0 in November, according to data released by the Conference Board. Analysts expected a drop to 87.0.


United States Consumer Confidence registered at 94.5 above expectations (87) in October
Published On :2014-10-28 15:00:00
Market :Indicators


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FXStreet.com (Barcelona)


United States Richmond Fed Manufacturing Index: 20 (October) vs 14
Published On :2014-10-28 14:59:00
Market :Indicators


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FXStreet.com (Barcelona)


USD/CAD trading in 70-point range since Ottawa shooting - TD Securities
Published On :2014-10-28 14:56:00
Market :Forex Flash

The TD Securities team of experts point out that since the Ottawa War Memorial attack last week USD/CAD has been trading in a 70-point range, around the 1.1240 level.


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FXStreet (Łódź) - The TD Securities team of experts point out that since the Ottawa War Memorial attack last week USD/CAD has been trading in a 70-point range, around the 1.1240 level.

Key quotes

"Today should be no exception, as a void calendar for Canadian data will provide no domestic catalysts in anticipation of tomorrow’s FOMC meeting outcome at 14.00ET and Governor Poloz’s and Senior Deputy Governor Wilkins appearance before the Senate Banking, Trade and Commerce Committee at 16.15ET. Mr. Poloz’s opening statement and Q&A should provide more background regarding the removal of “neutral” from the BoC’s statement last week, with a message crafted to confirm the overall BoC policy stance remains unbiased."

"Beyond today’s lack of domestic data and the radio-silence ahead of the two key events tomorrow, soft oil prices continue to exert a dampening influence on CAD. Both the fundamental position—abundant supply relative to demand—and the technical position—pressure on monthly support just below $81/bbl—of the crude oil market suggests that risks to prices are biased to the downside."

"Lower oil prices are a drag on the CAD and, as our correlation matrix, above, highlights, crude prices are a strengthening influence on the CAD relative to last month and the last quarter. The daily correlation (based on rolling one month window of daily returns) remains relatively weak, however, and while a deeper dip in crude prices would be a near-term negative for the CAD, we don’t think it would add much momentum to a market that has basically stalled."

"On the charts, USDCAD looks soft this morning below the daily channel base at 1.1240 but the short-term pattern suggest that weakness to the 1.1155/65 area could be seen and the picture would still suggest consolidation. Last Thursday’s low at 1.1189 may underpin funds near-term. Resistance is 1.1250 intraday."


EUR/USD could dip towards 1.25 - RBS
Published On :2014-10-28 14:49:00
Market :Forex Flash

Dmytro Bondar, Technical Analyst at RBS suggests that EUR/USD might test the 1.25 level, which however shouldn't be broken amid oscillators


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FXStreet (Łódź) - Dmytro Bondar, Technical Analyst at RBS suggests that EUR/USD might test the 1.25 level, which however shouldn't be broken amid oscillators.

Key quotes

"The EUR/USD has probably formed a base at 1.2506 (161.8% projection from the Aug impulse wave), as RSI displayed a positive divergence while exiting the oversold region."

"The pair has though reached the top Bollinger band and 1.2860retracement, from where another correction is possible."

"If so, the potential dip towards 1.2500 should sustain above the level amid RSI positive divergence and earlier formed piercing pattern."

"Then a further recovery to 1.2860, 1.3000 and 1.3200 will be expected. A sustained break below 1.2500 cancels the view and sees 1.2422 as the next support."


EUR/USD keeps highs around 1.2750
Published On :2014-10-28 14:46:00
Market :Foreign Exchange

The upside momentum is gathering pace around the common currency on Tuesday, with EUR/USD hovering over session highs around 1.12750/60...


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FXStreet (Edinburgh) - The upside momentum is gathering pace around the common currency on Tuesday, with EUR/USD hovering over session highs around 1.12750/60.

EUR/USD stronger after data

Spot has been boosted following disappointment results from the US Durable Good Orders, with both headline and core measures coming in below expectations during September. The pair is now confirming the break above 1.2700 the figure and reverting part of last week’s pullback, although cautiousness is set to prevail ahead of tomorrow’s FOMC statement. Analysts at TD Securities assessed “Price action has not signaled a bullish turn up or reversal on the daily patterns so we rather think gains above 1.2795/00 (40-day MA at 1.2795) are needed to signal a push towards 1.30. Below support in the low 1.26s will signal renewed weakness”.

EUR/USD levels to watch

At the moment the pair is advancing 0.28% at 1.2747 with the next hurdle at 1.2784 (hourly high Oct.21) ahead of 1.2841 (high Oct.21) and then 1.2845 (high Oct.16). On the flip side, a break below 1.2665 (low Oct.27) would open the door to 1.2656 (61.8% of 1.2614-1.2723) and finally 1.2635 (low Oct.24).



Technical Studies :

Updated At - 2014-10-28 14:45:00

OPEN = 1.2749  |  CLOSE = 1.2745  |  HIGH = 1.2752  |   LOW = 1.2745
BID = 1.2745  |  ASK = 1.2746  |   PERCENT = 0.0314
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Neutral

Natural Gas remains weak, speculators cut bullish bets
Published On :2014-10-28 14:43:00
Market :Stocks, Oil & Metals

Natural Gas continues to hover near 11-month lows as the prices fail to rebound on bargain hunting demand.


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FXStreet (Mumbai) - Natural Gas continues to hover near 11-month lows as the prices fail to rebound on bargain hunting demand.

Natural Gas for the December delivery is trading at USD 3.641/mmbtu, after having failed to capitalize on the gains during the European session. Moreover, a record high production and warm weather have kept the bulls at bay. Temperatures will be above normal across most of the lower 48 states over the next five days before readings in the East drop to seasonal or lower levels, according to the Commodity Weather Group LLC.

As per the U.S. Commodity Futures Trading Commission (CFTC) data, Hedge funds cut bullish bets by 51 % in the week ended Oct. 21 to the lowest level since April 2012. Net-long positions on four U.S. natural gas contracts declined by 35,257 futures.

Natural Gas Technical levels

Natural Gas has an immediate resistance at 3.7, above which prices can rise to 3.83 levels. On the other hand, prices may fall to 3.5 levels if the immediate support of 3.623 is breached.


Fed expected to end QE purchases in October - TD Securities
Published On :2014-10-28 14:42:00
Market :Forex Flash

The TD Securities team of experts predict that the FOMC will finalize the QE3 program at the monetary policy meeting on Wednesday, which should boost the USD.


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FXStreet (Łódź) - The TD Securities team of experts predict that the FOMC will finalize the QE3 program at the monetary policy meeting on Wednesday, which should boost the USD.

Key quotes

"But we expect the Fed to retain the dovish language that has framed recent policy statements tomorrow and stress that policy rates will not be increased for a considerable period."

"Unless the Fed language is more obviously hawkish, the USD may struggle to extend gains for the moment."

"The broader USD rally has clearly lost some momentum over the past couple of weeks and the markets are now entering a period of the year where seasonal patterns typically turn more USD negative."

"For choice, we would rather favour fading USDJPY gains through the low 108 area intraday and stopping out above yesterday's (bearish outside range session) high."


AUD/USD extends gains after disappointing US data
Published On :2014-10-28 14:30:00
Market :Foreign Exchange

AUD/USD gathered momentum and reached its highest level in nearly 3 weeks as the USD weakened on the back of disappointing US durable goods orders.


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FXStreet (Córdoba) - AUD/USD gathered momentum and reached its highest level in nearly 3 weeks as the USD weakened on the back of disappointing US durable goods orders.

US durable goods orders fell 1.5% in September, marking the second straight decline after a 18.3% drop the previous month and versus a 0.5% rise expected. Excluding transportation, orders declined by a smaller 0.2% against a 0.5% increase forecasted.

AUD/USD broke above previous daily highs and reached a peak of 0.8881 before easing a tad. At time of writing, the pair is trading at the 0.8860 area, recording a 0.69% gain Tuesday.

The Australian dollar was already outperforming supported by upbeat domestic data and rising stocks.

AUD/USD technical levels


As for technical levels, AUD/USD could find immediate resistances at 0.8891 (intraday high), 0.8898/0.8900 (Oct 9 high/psychological level) and 0.8926 (Sept 23 highs). On the other hand, supports are seen at 0.8785 (10-day SMA), 0.8770 (21-day SMA) and 0.8742 (Oct 22 low).



Technical Studies :

Updated At - 2014-10-28 14:30:00

OPEN = 0.8867  |  CLOSE = 0.8867  |  HIGH = 0.8869  |   LOW = 0.8866
BID = 0.8866  |  ASK = 0.8868  |   PERCENT = 0
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Extremely

Slovakia Current Account Balance EUR dipped from previous €94M to €-79M in August
Published On :2014-10-28 14:30:00
Market :Indicators


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FXStreet.com (Barcelona)


US Equity futures point to a positive start on Wall Street
Published On :2014-10-28 14:21:00
Market :Stocks, Oil & Metals

The US Equity futures are trading modestly higher despite the disappointing Durable goods data released today.


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FXStreet (Mumbai)- The US Equity futures are trading modestly higher despite the disappointing Durable goods data released today.

The DJIA December futures are trading 0.30% higher, while the S&P 500 December futures are trading 0.33% higher. The Midcap index Russell 2000 December futures have gained 0.30%. The equity futures have been resilient on corporate results. Amgen Inc. is trading is up 2.2% after raising its full-year forecast. Aetna Inc. gained 0.7% as its operating result topped forecasts, while T-Mobile US Inc. added 1.5% after boosting its estimate for subscriber acquisitions.

Facebook Inc., Electronic Arts Inc., and Marriott International Inc. are among S&P 500 members posting earnings today.


Faster, higher, stronger; GBP/USD extends advance amid dollar weakness
Published On :2014-10-28 14:17:00
Market :Foreign Exchange

The Sterling is joining the US Dollar's weakness environment after the US durable goods orders report and its price versus the Greenback is now testing October 21 high at 1.6180.


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FXStreet (San Francisco) - The Sterling is joining the US Dollar's weakness environment after the US durable goods orders report and its price versus the Greenback is now testing October 21 high at 1.6180.

Durable goods orders extended last month 18.3% decline after posting a 1.3% fall in September; against 0.5% rise expected. Ex-transport item, durable goods declined 0.2%.

The GBP/USD jumped 70 pips from 1.6110 to break yesterday's high at 1.6145 and after triggering stops around 1.6160, the pair rallied to test October 21 highs around 1.6180. Currently, GBP/USD is trading at 1.6179, up 0.37% on the day, having posted a daily high at 1.6184 and low at 1.6088.

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

GBP/USD sentiment

Valeria Bednarik from FXStreet points out that in the short term "the hourly chart shows price extending above its 20 SMA and RSI heading strongly up above its midline, while the 4 hours chart also presents a bullish bias, with 200 EMA at 1.6190 acting as immediate resistance and the level to break to confirm more intraday gains in the pair."

If the pair breaks above 1.6180, it will find resistances at 1.6190 and 1.6200. To the downside, supports are at 1.6145, 1.6100 and 1.6090.



Technical Studies :

Updated At - 2014-10-28 14:15:00

OPEN = 1.6178  |  CLOSE = 1.6177  |  HIGH = 1.618  |   LOW = 1.6173
BID = 1.6177  |  ASK = 1.6177  |   PERCENT = 0.0062
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Overbought

Gains in WTI Crude capped by weak US data
Published On :2014-10-28 14:05:00
Market :Stocks, Oil & Metals

The gains in the Crude oil prices have been halted by a weaker than expected US Durable goods orders data. The prices had rallied from the three-day lows in anticipation of a strong data.


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FXStreet (Mumbai) - The gains in the Crude oil prices have been halted by a weaker than expected US Durable goods orders data. The prices had rallied from the three-day lows in anticipation of a strong data.

WTI Crude for December delivery is trading 0.47% higher at USD 81.37/barrel. However, the prices slipped from a high of USD 81.65 levels hit just ahead of the release of the US data. The Durable goods orders in the US contracted 1.2% in September, missing market expectations of a 0.5% increase.

Earlier today, the prices were pushed lower on forecasts that U.S. crude inventories increased last week. Moreover, the major investment banks have reduced their price forecasts for Crude oil on the both sides of the Atlantic. The latest one to do so is the Barclays, which reduced its estimate for the average Brent price in 2015 to $93 a barrel from $96, and for WTI prices to $85 from $89.

Crude prices may dip once again if the US consumer confidence data for October fails to meet the market expectation of 87.00.

WTI Crude Technical levels

WTI crude has an immediate support at 81.06 on the hourly chart, below which the prices can fall to 80.47 levels. On the flip side, prices can test 82.31 levels if the day’s high of 81.65 is breached.


United States S&P/Case-Shiller Home Price Indices (YoY) came in at 5.6% below forecasts (5.8%) in August
Published On :2014-10-28 14:00:00
Market :Indicators


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FXStreet.com (Barcelona)


Hungary MNB Interest Rate Decision remains unchanged at 2.1% in October
Published On :2014-10-28 14:00:00
Market :Central Banks


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FXStreet.com (Barcelona)


USD/CAD drops to test 1.1200
Published On :2014-10-28 13:57:00
Market :Foreign Exchange

The US dollar now intensifies its intraday decline, pushing USD/CAD to levels closer to the key support at 1.1200...


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FXStreet (Edinburgh) - The US dollar now intensifies its intraday decline, pushing USD/CAD to levels closer to the key support at 1.1200.

USD/CAD weaker post-data

The pair came under further selling pressure after US Durable Goods Orders failed to surprise investors, contracting 1.2% inter-month during September. In the dame line, orders excluding the Transportation sector retreated 0.2%, missing estimates as well. Next of relevance will be US Consumer Confidence, expected to improve a tad to 87 for the present month. In the view of Shaun Osborne, Chief FX Strategist at TD Securities, “the short-term pattern suggest that weakness to the 1.1155/65 area could be seen and the picture would still suggest consolidation. Last Thursday’s low at 1.1189 may underpin funds near-term. Resistance is 1.1250 intraday”.

USD/CAD significant levels

At the moment the pair is down 0.29% at 1.1215 with the immediate support at 1.1186 (Kijun Line) ahead of 1.1184 (low Oct.22) and finally 1.1168 (low Oct.13). On the flip side, a breakout of 1.1255 (high Oct.27) would expose 1.1263 (high Oct.23) and then 1.1272 (Tenkan Line).



Technical Studies :

Updated At - 2014-10-28 13:45:00

OPEN = 1.1214  |  CLOSE = 1.1214  |  HIGH = 1.1219  |   LOW = 1.1207
BID = 1.1214  |  ASK = 1.1215  |   PERCENT = 0
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bearish  |   Strength = -3  |  OBO Recommendation = Neutral

United States Redbook index (MoM) climbed from previous 0.1% to 0.3% in October 24
Published On :2014-10-28 13:55:00
Market :Indicators


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FXStreet.com (Barcelona)


Bye Dollar! EUR/USD jumps above 1.2750 after US durable goods
Published On :2014-10-28 13:47:00
Market :Foreign Exchange

The US dollar is trading under pressure amid a weaker than expected US durable goods order report. So, the EUR/USD jumped around 50 pips to break previous highs at 1.2720 and to test the 1.2760 area.


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FXStreet (San Francisco) - The US dollar is trading under pressure amid a weaker than expected US durable goods order report. So, the EUR/USD jumped around 50 pips to break previous highs at 1.2720 and to test the 1.2760 area.

Durable goods orders extended last month 18.3% decline after posting a 1.3% fall in September; against 0.5% rise expected. Ex-transport item, durable goods declined 0.2%.

Currently, EUR/USD is trading at 1.2751, up 0.41% on the day, having posted a daily high at 1.2760 and low at 1.2685. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.

EUR/USD levels

If the pair consolidates levels above 1.2750, it will find resistances at 1.2765, 1.2800 and 1.2840. To the downside, supports are at 1.2720, 1.2685 and 1.2665.



Technical Studies :

Updated At - 2014-10-28 13:45:00

OPEN = 1.2746  |  CLOSE = 1.2748  |  HIGH = 1.2752  |   LOW = 1.2741
BID = 1.2749  |  ASK = 1.275  |   PERCENT = -0.0157
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Neutral

Gold at day’s high as US Durable Goods Orders fall in September
Published On :2014-10-28 13:45:00
Market :Stocks, Oil & Metals

Gold prices have shot higher to trade at the day’s high after the official data in the US revealed a fall in the US durable goods orders in September.


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FXStreet (Mumbai) - Gold prices have shot higher to trade at the day’s high after the official data in the US revealed a fall in the US durable goods orders in September.

Gold now trades 0.41% higher for the day at USD 1234.40/Oz levels. The official data released in the US showed that the Durable goods orders contracted by 1.3% in September, compared to the market expectation of 0.5% expansion. Moreover, Gold prices had come under pressure ahead of the data as the markets were anticipating a better print.

However, the weak data has had not impact on the US Ten-year treasury yields which continue to hover around pre-data levels of 2.27%. Meanwhile, the US equity futures too, have not seen much movement post the disappointing data. Thus, the rise in the Gold prices may be capped.

Gold Technical levels

Gold has an immediate resistance of 1235.20, above which prices can rise to 1240 levels. On the flip side, prices may decline to 1227 levels if the immediate support of 1230 is breached.


US: Durable Good Orders (Sep) dropped 1.3%
Published On :2014-10-28 13:41:00
Market :Indicators

The Commerce Department has informed that orders for US long-lasting goods have contracted 1.3% MoM during September, missing...


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FXStreet (Edinburgh) - The Commerce Department has informed that orders for US long-lasting goods have contracted 1.3% MoM during September, missing expectations at 0.5% although better from August’s 18.3% drop (revised). Excluding the Transportation sector, orders fell 0.2% vs. forecasts for a 0.5% advance.


United States Durable Goods Orders ex Transportation below expectations (0.5%) in September: Actual (-0.2%)
Published On :2014-10-28 13:39:00
Market :Indicators


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FXStreet.com (Barcelona)


USD/JPY erases gains after US durable goods
Published On :2014-10-28 13:39:00
Market :Foreign Exchange

USD/JPY came under pressure and completely erased intraday gains after data showed US durable goods orders unexpectedly dropped in September.


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FXStreet (Córdoba) - USD/JPY came under pressure and completely erased intraday gains after data showed US durable goods orders unexpectedly dropped in September.

The US dollar weakened across the board following data release. US durable goods orders fell 1.3% in September, marking the second straight decline after a 18.3% drop the previous month and versus a 0.5% rise expected. Excluding transportation, orders declined by a smaller 0.2% against a 0.5% increase forecasted.

USD/JPY gave up gains and slipped back below 108.00 to hit a fresh daily low of 107.70 in recent dealings. At time of writing, the pair is trading at 107.75, virtually unchanged on the day, having been as high as 108.16 minutes before.

USD/JPY levels to watch

In terms of technical levels, USD/JPY could find immediate resistances at 108.16 (Oct 28 high), 108.33 (Oct 27 high) and 108.73 (Oct 8 high). On the flip side, supports are seen at 107.59 (Oct 27 low), 107.38 (Oct 20 high) and 107.14 (10-day SMA).



Technical Studies :

Updated At - 2014-10-28 13:30:00

OPEN = 108.11  |  CLOSE = 107.81  |  HIGH = 108.13  |   LOW = 107.71
BID = 107.79  |  ASK = 107.8  |   PERCENT = 0.27
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Overbought

United States Durable Goods Orders came in at -1.3% below forecasts (0.5%) in September
Published On :2014-10-28 13:30:00
Market :Indicators


Full Content

FXStreet.com (Barcelona)


EUR/CHF regains 1.2060
Published On :2014-10-28 13:29:00
Market :Foreign Exchange

EUR/CHF is posting fresh session highs now, hovering over 1.2060/65 after dropping to the mid-1.2000s in early trade...


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FXStreet (Edinburgh) - EUR/CHF is posting fresh session highs now, hovering over 1.2060/65 after dropping to the mid-1.2000s in early trade.

EUR/CHF bounces off 1.2050

The cross keeps the trade in a very tight range, currently coming up after a brief dip below 1.2050 on Monday. Data wise in the Alpine economy, the only releases of note this week will be the Consumption Indicator gauged by UBS and the KOF Leading Indicator, both due on Friday. In the meantime, market participants slowly commenced to turn their attention to the referendum regarding the SNB gold holdings on 30th November. “Initial resistance is found circa 1.2083, the 55 day ma. This guards the 1.2133 July low and the 200 day ma at 1.2159”, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

EUR/CHF key levels

The cross is now up 0.02% at 1.2062 and a breakout of 1.2080 (30-d MA) would expose 1.2086 (38.2% of 1.2140-1.2053) and finally 1.2096 (high Oct.14). On the other hand,
The initial support lines up at 1.2053 (low Oct.2) ahead of 1.2045 (low Sep.4) and then 1.2030 (low Nov.28 2012).



Technical Studies :

Updated At - 2014-10-28 13:15:00

OPEN = 1.2064  |  CLOSE = 1.2061  |  HIGH = 1.2066  |   LOW = 1.206
BID = 1.2061  |  ASK = 1.2062  |   PERCENT = 0.0249
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Neutral

Virtual Currencies rise
Published On :2014-10-28 13:21:00
Market :Stocks, Oil & Metals

The Bitcoin and the Litecoin are trading higher today, although the currencies are stuck around the technical resistance levels.


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FXStreet (Mumbai) - The Bitcoin and the Litecoin are trading higher today, although the currencies are stuck around the technical resistance levels.

The BTC/USD is trading 1.13% higher today at 353.20 levels, while the LTC/USD is trading 1.72% higher at 3.84 levels. Meanwhile, the Bitcoin has gained 1.36% against the EUR to trade at 282.12 levels. Moreover, the chart based activity continues in the virtual currency space as the markets face a lack of fresh fundamental triggers.

BTC/USD Technical levels

The Bitcoin is trading near an immediate resistance level of 355, above which the prices have repeatedly failed to sustain gains since last few sessions. On the downside, Bitoin has an immediate support at 338.00 levels.


GBP/USD bounces from below 1.6100
Published On :2014-10-28 13:18:00
Market :Foreign Exchange

Following a short-lived drop below 1.6100, GBP/USD managed to erase intraday losses and went back to trade within its last sessions' range.


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FXStreet (Córdoba) - Following a short-lived drop below 1.6100, GBP/USD managed to erase intraday losses and went back to trade within its last sessions' range.

GBP/USD found support at the 10-day SMA at 1.6086 and climbed all the way back to the upper side of the range, but stalled just ahead Asian session highs. At time of writing, Cable is trading at 1.6125, little changed on the day, as investors gear up for the next round of US data and the Federal Reserve 2-day policy meeting gets underway.

GBP/USD levels to watch


In terms of technical levels, GBP/USD could find immediate resistances at 1.6145 (Oct 26 high), 1.6183 (Oct 21 high) and 1.6200 (psychological level). On the other hand, supports are seen at 1.6086/79 (Oct 28 & 27 lows/10-day SMA), 1.6015 (Oct 24 low) and 1.6000 (psychological level).



Technical Studies :

Updated At - 2014-10-28 13:15:00

OPEN = 1.6125  |  CLOSE = 1.6124  |  HIGH = 1.6128  |   LOW = 1.6123
BID = 1.6123  |  ASK = 1.6124  |   PERCENT = 0.0062
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bearish  |   Strength = -2  |  OBO Recommendation = Neutral

Gold declines ahead of the US Durbale Goods Orders data
Published On :2014-10-28 13:08:00
Market :Stocks, Oil & Metals

Gold prices have edged marginally lower ahead of the US durable goods data, tracking the rise in the US Equity futures.


Full Content

FXStreet (Mumbai) - Gold prices have edged marginally lower ahead of the US durable goods data, tracking the rise in the US Equity futures.

Gold is trading 0.19% lower at USD 1227/Oz, after having hit a high of USD 1231.70/Oz during the European session. Moreover, the US Equities are trading higher ahead of the release of the Durable goods orders number for September due at 12:30 GMT. The DJIA December futures are trading 0.47% higher, while the S&P December futures are trading 0.53% higher at the time of writing. Consequently, the ten-year treasury yields have inched higher to 2.287%.

The yellow metal may extend losses if the durable goods orders rise more than the market expectation of 0.5% growth.

Gold Technical levels

Gold has an immediate resistance of the day’s high of 1231.30, above which prices can rise to 1235 levels. Meanwhile, prices may slip to 1225 levels since the metal has failed to sustain gains above 1230 levels.


Focus on possible language changes in FOMC statement - BNZ
Published On :2014-10-28 12:29:00
Market :Forex Flash

Raiko Shareef, economist at BNZ, believes that should the Fed decide to remove the phrase "considerable time", referring to the period between the end of asset purchases and rate hikes, from the statement tomorrow, the USD would push higher.


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FXStreet (Łódź) - Raiko Shareef, economist at BNZ, believes that should the Fed decide to remove the phrase "considerable time", referring to the period between the end of asset purchases and rate hikes, from the statement tomorrow, the USD would push higher.

Key quotes

"First and foremost, the Fed is due to cease purchasing assets as of this meeting, a move that has long been priced in."

"In the very unlikely event that policymakers choose to extend the programme for another six weeks, the USD would be sold heavily."

"The more debatable change is whether or not Fed Chair Yellen and her colleagues keep in place the reference to 'a considerable time' between the end of asset purchases and rate hikes. Despite the best efforts of Fed officials to deter market participants from reading too much into that phrase (and instead focusing on the data), its removal would undoubtedly see a knee-jerk jump in the USD."

"Our view is that asset purchases will end at this meeting, but the 'considerable time' phrase will remain until the December meeting, where Yellen can explain its removal at the accompanying press conference. In essence, we are looking for a statement that is, very little changed from September."


USD/CAD in lows near 1.1220
Published On :2014-10-28 12:22:00
Market :Foreign Exchange

The greenback is now running out of steam on Tuesday, dragging USD/CAD to print session lows in the 1.1220/15 area....


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FXStreet (Edinburgh) - The greenback is now running out of steam on Tuesday, dragging USD/CAD to print session lows in the 1.1220/15 area.

USD/CAD weaker on risk appetite

The renewed sentiment towards the risk appetite is pushing spot lower as markets remains on hold ahead of the critical FOMC meeting due tomorrow. Ahead in the session, Durable Goods Orders (0.6% exp.) and Consumer Confidence (87 exp.) will take centre stage in the US session, although it seems stronger catalysts will be needed to break the prevailing consolidative pattern either way. In the technical space, analysts at BBH noted “The US dollar could not get back above CAD1.13 in the first half of the week and came down to test CAD1.1180-1.1200 in the second half of the week. It has been unable to close below the 20-day average for a month. The MACDs are turning lower, though the RSI is in neutral”.

USD/CAD significant levels

At the moment the pair is down 0.26% at 1.1217 with the immediate support at 1.1186 (Kijun Line) ahead of 1.1184 (low Oct.22) and finally 1.1168 (low Oct.13). On the flip side, a breakout of 1.1255 (high Oct.27) would expose 1.1263 (high Oct.23) and then 1.1272 (Tenkan Line).



Technical Studies :

Updated At - 2014-10-28 12:15:00

OPEN = 1.1218  |  CLOSE = 1.1218  |  HIGH = 1.1219  |   LOW = 1.1213
BID = 1.1217  |  ASK = 1.1218  |   PERCENT = 0
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bearish  |   Strength = -2  |  OBO Recommendation = Oversold

EUR/USD clings to 1.2700
Published On :2014-10-28 12:19:00
Market :Foreign Exchange

Despite the positive mood in stocks markets, EUR/USD failed to hold above the 1.2700 level. although it remains broadly unchanged Tuesday as investors await the next series of US data and Fed statement Wednesday.


Full Content

FXStreet (Córdoba) - Despite the positive mood in stocks markets, EUR/USD failed to hold above the 1.2700 level. although it remains broadly unchanged Tuesday as investors await the next series of US data and Fed statement Wednesday.

EUR/USD failed once again to clear the 1.2725 resistance area and slid to a low of 1.2683 during the European session. At time of writing, EUR/USD is trading at 1.2695, virtually unchanged on the day.

During the New York session, US durable goods orders and consumer confidence data could offer inspiration for EUR/USD, which has been trading sideways in a narrow range over the last sessions.

EUR/USD technical levels

As for technical levels, immediate supports are seen at 1.2683 (intraday low), 1.2665 (Oct 27 low) and 1.2634 (Oct 24 low). On the other hand, resistances could be found at 1.2718/22 (Oct 27 & 26 highs), 1.2790 (Oct 9 high) and 1.2839 (Oct 21 high).



Technical Studies :

Updated At - 2014-10-28 12:15:00

OPEN = 1.2697  |  CLOSE = 1.2705  |  HIGH = 1.2707  |   LOW = 1.2697
BID = 1.2702  |  ASK = 1.2707  |   PERCENT = -0.063
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bearish  |   Strength = -4  |  OBO Recommendation = Neutral

GBP holding to latest gains against USD - FXStreet
Published On :2014-10-28 12:16:00
Market :Forex Flash

FXStreet Chief Analyst Valeria Bednarik notes that GBP/USD has been hovering slightly above the 1.6100 level on Tuesday.


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FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik notes that GBP/USD has been hovering slightly above the 1.6100 level on Tuesday.

Key quotes


"Price stands close to a daily descendant trend line coming from July high of 1.7190 today converging with Monday high in the 1.6145 price zone."

"The lack of directional strength has left 4 hours indicators flat albeit in positive territory, while 20 SMA presents a mild bullish tone below current price, offering dynamic intraday support at 1.6075."

"Neutral to bullish, the upside is favored on a break above mentioned 1.6145 towards the 1.6200 price zone, whilst below 1.6070, the pair’s bearish run may extend down to 1.6030 price zone."


Flash estimate for 3Q14 GDP growth at 2.5-3.0% - ING
Published On :2014-10-28 12:12:00
Market :Forex Flash

Rob Carnell from ING suggests that the US GDP figure for Q3, due out on Thursday, should come in close to 3%.


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FXStreet (Łódź) - Rob Carnell from ING suggests that the US GDP figure for Q3, due out on Thursday, should come in close to 3%.

Key quotes


"We have been maintaining in the face of all this volatility, that the US was growing still at its underlying trend rate, which we maintained was about 2.5-3.0%, and our preliminary estimate for 3Q14 GDP growth suggests that it will come in at about this level."

"In terms of the underlying components, we anticipate consumer spending to grow at about 2.0-2.5%. The quarter started on a very soft note, and despite a bounce in spending in August, September retail sales weakness may be only partly offset by falling price levels, and so real consumer spending is not likely to be earth-shattering. Lower gasoline prices should give this a very hefty upwards nudge in 4Q14, however."

"Business investment in equipment and intellectual capital bounced nicely in 2Q14, and capital goods orders and shipments trends imply that this healthy trend was maintained in 3Q14. The same cannot be said for structures spending, or residential spending, and business inventories will likely revert to a slight drag from the positive contribution they delivered in 2Q14."

"Net exports are always a bit of a wildcard given the lack of September trade data at the time of the first GDP release. But on the basis of favourable trends in the US trade balance, we may see net trade offsetting some of the weakness in inventories."

"Totting all of this up, we get a figure of 2.8%, though this is of course subject to all the usual uncertainties associated with preliminary GDP estimates and we would suggest a +/- 0.5ppt margin of likely error for this estimate."


Credit Agricole: FOMC meeting could lead to further losses in the DXY - eFXnews
Published On :2014-10-28 12:05:00
Market :Forex Flash

The eFXnews team comment that in the opinion of Credit Agricole Fed's monetary policy meeting on Wednesday could lead to further declines in the USD index.


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FXStreet (Łódź) - The eFXnews team comment that in the opinion of Credit Agricole Fed's monetary policy meeting on Wednesday could lead to further declines in the USD index.

Key quotes


"We suspect the FOMC meeting could lead to further losses in the DXY after is declined in two of the past three weeks. We highlight two potential risks for the USD from the FOMC."

"First, minor tweaks to the statement are possible, which could highlight the downside risks to global growth. The Fed could point to a strong dollar as a culprit for a pre-emptive tightening in financial conditions."

"Second, the 'considerable time' language is likely to stay put, suggesting that the Fed will stay put at least until mid-2015. Keep in the mind, the Fed Fund futures is pricing in a late 2015 lift off date from mid-2015 nearly a month ago."

"In any event, this week’s meeting is likely neutral or negative for the USD, especially given market positioning and limited scope for a hawkish surprise."

'This content has been provided under specific arrangement with eFXnews.'


EUR/USD maintains a neutral stance - FXStreet
Published On :2014-10-28 11:59:00
Market :Forex Flash

FXStreet Chief Analyst Valeria Bednarik observes that EUR/USD is trading caround the 1.27 level for the second running day.


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FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that EUR/USD is trading around the 1.27 level for the second running day.

Key quotes

"Spikes either side of the level had been quite contained with the pair’s latest range set in between 1.2660 and 1.2720."

"With no headlines so far in Europe, dollar slightly positive tone across the board is finding support in rising stocks, with local indexes strongly up and US futures at levels not seen since early October."

"Technically, the 4 hours chart shows price retracing from the highs afore mentioned, with 20 SMA aiming slightly higher below current price, but indicators turning south above their midlines, lacking directional strength."

"US session will bring a good bunch of data, including Durable Goods Orders and Consumer confidence, which may finally wake the pair up."

"A price acceleration either side of the extreme may be able to trigger some small stops and result in a 30/50 pips move, albeit strong runs should not be expected, as investors will likely remain extremely cautious ahead of Wednesday’s FED economic policy meeting."


Nikkei ends lower
Published On :2014-10-28 11:50:00
Market :Stocks, Oil & Metals

Japanese stock markets ended lower today on weak corporate earnings and a weak global data that negated the upbeat domestic retail sales figure.


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FXStreet (Mumbai) - Japanese stock markets ended lower today on weak corporate earnings and a weak global data that negated the upbeat domestic retail sales figure.

Nikkei ended 0.38% lower at 15329.91 levels, after Canon Inc tumbled on weak earnings report. The stock fell 2.46% today after its quarterly operating profit declined due to a fall in demand for digital cameras. Meanwhile, Takeda Pharmaceutical Co gained 1.09% after a punitive damages award was slashed by USD 9 billion by the US judge.

Moreover, the weakness in the German and the US data soured the sentiment. However, the index sought some support from the upbeat domestic retail sales number. The 2.3% annual rise in September blew past a 0.6% increase expected by economists.

Nikkei Technical levels

The index has an immediate resistance of 15,356 (Aug. 29 low), above which prices can re-test the yesterday’s high of 15,424 levels. On the flip side, index may fall to 15,000 levels if the immediate support at 15,259 on the hourly chart is breached.


CAC hovers around 4100
Published On :2014-10-28 11:35:00
Market :Stocks, Oil & Metals

The French equity index, Cac, is hovering around 4100 levels after prices declined from the day’s high in line with the other European equity markets.


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FXStreet (Mumbai) - The French equity index, Cac, is hovering around 4100 levels after prices declined from the day’s high in line with the other European equity markets.

The Cac is trading 0.21% higher at 4005.50, down from the day’s high of 4128.80 levels. The index breadth is positive with an advance decline ratio of 38:2. Among the index stocks, Sanofi has lost 8.74% today after its quarterly profit dropped slightly. Moreover, the firm warned that the key Diabetes business will slow down in 2015. On the other hand, the index remains well supported by gains in stocks like – Vaelo, Technip, ArcelorMittal, Lafarge. Oil and Gas and Gas water stocks are trading up by 1.88% and 2.00% respectively.

Cac technical levels

The index has breached the immediate support of 4109 (Aug 8 low), under which prices can fall to 4065 levels. On the other hand, prices can rally to 4164 levels, if the hourly chart resistance of 4128 is breached.


AUD/USD hits 2-week highs
Published On :2014-10-28 11:22:00
Market :Foreign Exchange

AUD/USD managed to advance slightly Tuesday and reached its highest level in almost two weeks helped by an upbeat ANZ weekly consumer confidence survey and rising stocks.


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FXStreet (Córdoba) - AUD/USD managed to advance slightly Tuesday and reached its highest level in almost two weeks helped by an upbeat ANZ weekly consumer confidence survey and rising stocks.

However, AUD/USD failed to sustain momentum and remained near Monday’s levels as investors cautiously await the Federal Reserve decision on Wednesday. AUD/USD climbed as high as 0.8839 and then eased a tad to currently trade around 0.8825, still 0.29% above its opening price.

AUD/USD levels to watch


As for technical levels, AUD/USD could find immediate resistances at 0.8839 (intraday high), 0.8859 (Oct 15 high), 0.8898/0.8900 (Oct 9 high/psychological level). On the other hand, supports are seen at 0.8785 (10-day SMA), 0.8770 (21-day SMA) and 0.8742 (Oct 22 low).



Technical Studies :

Updated At - 2014-10-28 11:15:00

OPEN = 0.8826  |  CLOSE = 0.8828  |  HIGH = 0.8833  |   LOW = 0.8824
BID = 0.8828  |  ASK = 0.8829  |   PERCENT = -0.0227
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Neutral

Crude oil remains weak ahead of supply data
Published On :2014-10-28 11:21:00
Market :Stocks, Oil & Metals

Crude prices on both sides of the Atlantic are trading near the three-day lows amid speculation that the stockpiles in the US rose to the highest level since July.


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FXStreet (Mumbai) - Crude prices on both sides of the Atlantic are trading near the three-day lows amid speculation that the stockpiles in the US rose to the highest level since July.

WTI Crude is trading 0.13% lower at USD 80.90/barrel while the Brent Crude is trading 0.23% lower at USD 85.63/barrel. The prices resumed their fall yesterday after a major investment bank reduced its WTI and Brent Crude price forecast by USD 15. As per Goldman Sachs, “The scale and sustainability of U.S. shale oil production is making global oil cheaper.”

According to a Bloomberg news survey, Crude inventories are expected to have increased by 3.8 million barrels to 381.5 million last week.

Brent Crude Technical levels

Brent Crude has an immediate resistance of 86.00, above which prices can rally to 86.59 levels. On the flip side, a breach of the immediate support level of 85.16, shall open doors for a re-test of 84.56 levels.


USD/JPY broke above 108.00 on USD demand
Published On :2014-10-28 11:00:00
Market :Foreign Exchange

USD/JPY broke above 108.00 handle, supported by USD strength in European pairs.


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FXStreet (Moscow) - USD/JPY broke above 108.00 handle, supported by USD strength in European pairs.

The pair got some fuel from Riksbank’s rate cut that pressured the European currencies, and helped the USD to recover part of its recent losses, and reach 108.05 by the moment. However, the breakout above 108.00 is not confirmed yet. Yesterday’s weaker than expected US data only strengthened the market doubts on American economy outlook. Unstable recovery coupled with slower global growth, and recent USD strength that offsets price pressure, may convince the FOMC members to stay in ultra-easy mode for a longer period. Rumors on the possibility of no rates hike in 2015 only add oil to the fire, and put USD under additional pressure, thus, a retreat back to the nearest support level is not ruled out.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 107.93; initial support levels at 107.50, 107.17 and 106.74 with resistance above at 108.26, 108.69 and 109.02. Hourly Moving Averages are bullish, with the 200SMA bullish at 107.14 and the daily 20EMA bullish at 107.55. Hourly RSI is bullish at 58.



Technical Studies :

Updated At - 2014-10-28 11:00:00

OPEN = 108.07  |  CLOSE = 108.07  |  HIGH = 108.09  |   LOW = 108.06
BID = 108.06  |  ASK = 108.07  |   PERCENT = 0.01
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 3  |  OBO Recommendation = Neutral

EUR/SEK jumps near 9.3500
Published On :2014-10-28 10:54:00
Market :Foreign Exchange

The Swedish krona is rapidly depreciating vs. its European counterpart on Tuesday, lifting EUR/SEK to fresh high near 9.3500...


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FXStreet (Edinburgh) - The Swedish krona is rapidly depreciating vs. its European counterpart on Tuesday, lifting EUR/SEK to fresh high near 9.3500.

EUR/SEK stronger post-Riksbank

The cross is navigating fresh multi-month highs around 9.3400 following the rate cut by the Riksbank, taking the repo rate to 0.0% from 0.25%. Despite the move was quite priced in by the markets, the central bank’s decision still managed to surprise investors. The Riksbank said the Swedish economy is growing as expected although deflationary fears seem to have been behind the decision. Stefan Mellin, Senior Analyst at Danske Bank, observed, “Fundamental arguments like the current account surplus, solid public finances, relative inflation, relative growth suggest that the SEK is significantly undervalued”.

EUR/SEK relevant levels

At the moment the cross is up 0.78% at 9.3334 with the next resistance at 9.3900 (multi-year high Jul.3) ahead of 9.4150 (high Nov.22 2010) and then 9.4280 (high Nov.17 2010). On the downside, a breach of 9.2810 (high Oct.27) would open the door to 9.2366 (38.2% of 9.0555-9.3485) and finally 9.2020 (50% of 9.0555-9.3485).



Technical Studies :

Updated At - 2014-10-28 10:45:00

OPEN = 9.3359  |  CLOSE = 9.3426  |  HIGH = 9.344  |   LOW = 9.3355
BID = 9.342  |  ASK = 9.3435  |   PERCENT = -0.0717
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Overbought

FTSE looses steam
Published On :2014-10-28 10:52:00
Market :Stocks, Oil & Metals

The UK equity markets appear exhausted as prices have declined steadily from the day’s high.


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FXStreet (Mumbai) - The UK equity markets appear exhausted as prices have declined steadily from the day’s high.

The Ftse is trading 0.42% higher at 6390.30, down from the day’s high of 6411.30. The index breadth is positive with an advance decline ratio of 90:10. However, the index is being pressurized by banking stocks which are down by 0.90%. Meanwhile, the Oil and Gas sector is down by 0.24% as well. Among the stocks, standard Chartered has lost 8.29% today after it reported a fall of 16% in quarterly profits.

Among the top gainers are – Mondi, IAG, Vodafone, Ashtead, Dixons Carphone – which have gained more than 2% each.

Ftse Technical levels

The index has an immediate resistance of 6419, above which it can rise to the yesterday’s high of 6443 levels. On the flip side, prices may decline to 6340 levels if the immediate support of 6380 is breached.


USD/JPY trading around 107.80 levels - FXStreet
Published On :2014-10-28 10:37:00
Market :Forex Flash

FXStreet Editor and Analyst Omkar Godbole notes that USD/JPY is trading near its closing level at 107.82 in the European session after being unable to climb above 108.00 early Asia.


Full Content

FXStreet (Łódź) - FXStreet Editor and Analyst Omkar Godbole notes that USD/JPY is trading near its closing level at 107.82 in the European session after being unable to climb above 108.00 early Asia.

Key quotes

"On the hourly chart, the pair appears weak with the RSI bearish at 49.37 levels."

"However, prices bounced back yesterday from the channel support of 107.60 levels."

"Thus, bears are likely come-in strong once the pair breaches the channel support located at 107.50 levels today."

"The pair also has a strong support of the rising trend line around 107.63 levels, breach of which shall also push the daily RSI below 50.00 levels."

"Meanwhile, the bulls are unlikely to have say so long as the pair trades below 108.13 levels."


GBP/USD drops below 1.6100
Published On :2014-10-28 10:31:00
Market :Foreign Exchange

The sterling is now following the rest of the riskier assets, pushing GBP/USD back below the 1.6100 key support...


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FXStreet (Edinburgh) - The sterling is now following the rest of the riskier assets, pushing GBP/USD back below the 1.6100 key support.

GBP/USD weaker on risk aversion

A bout of buying interest around the greenback is now dragging spot back below the 1.6100 handle, following the weaker tone from the risk associated space. Absent data releases in the UK economy, the pair’s price action will depend on the events across the pond, where Durable Goods Orders and Consumer Confidence will be in the limelight. “Immediate resistance is offered by the downtrend at 1.6153 today and the 23.6% retracement at 1.6184. While capped here, a negative bias remains and only above here does this base become viable”, observed Karen Jones, Head of FICC Technical Analysis at Commerzbank.

GBP/USD levels to consider

As of writing the pair is losing 0.13% at 1.6096 with the immediate support at 1.6088 (10-d MA) ahead of 1.6083 (low Oct.27) and then 1.6018 (low Oct.24). On the flip side, a breakout of 1.6147 (high Oct.27) would open the door to 1.6159 (30-d MA) and finally 1.6186 (high Oct.21).



Technical Studies :

Updated At - 2014-10-28 10:30:00

OPEN = 1.6098  |  CLOSE = 1.6097  |  HIGH = 1.6099  |   LOW = 1.6096
BID = 1.6096  |  ASK = 1.6098  |   PERCENT = 0.0062
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bearish  |   Strength = -3  |  OBO Recommendation = Neutral

SEB: A completed bear flag in EUR/USD? - eFXnews
Published On :2014-10-28 10:31:00
Market :Forex Flash

The eFXnews team remark that SEB see the possibility of EUR/USD's small upward correction ending with the pair's last increase to 1.2723 on Monday.


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FXStreet (Łódź) - The eFXnews team remark that SEB see the possibility of EUR/USD's small upward correction ending with the pair's last increase to 1.2723 on Monday.

Key quotes


"Also the fact that the ascent is so slow compared to the preceding decline also argues for it to be merely a correction."

"A 1.2665 break will now likely be enough to get things going more impulsively for the downside."


Copper inventory rises
Published On :2014-10-28 10:30:00
Market :Stocks, Oil & Metals

The daily inventory data released by the London Metal Exchange (LME) today showed a decline in the inventory levels of Aluminium and Zinc. Meanwhile, the data showed a rise in the inventory levels of Copper, Lead, and Nickel.


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FXStreet (Mumbai) - The daily inventory data released by the London Metal Exchange (LME) today showed a decline in the inventory levels of Aluminium and Zinc. Meanwhile, the data showed a rise in the inventory levels of Copper, Lead, and Nickel.

Aluminium inventory declined again, falling by 10,750 tonnes today, while the Zinc inventory declined by 2850 tonnes. Nickel inventory increased by 642 tonnes, while Copper inventory increased by 1500 tonnes. Lead inventory also rose by 150 tonnes.

Metal prices are trading little changed on the London Metal Exchange (LME), except Copper which is inching towards a two-week high on supply concerns.


EUR/USD trading around 1.27levels - FXStreet
Published On :2014-10-28 10:27:00
Market :Forex Flash

According to FXStreet Editor and Analyst Omkar Godbole, EUR/USD is trading close to the 1.27 area on Tuesday, with the daily RSI bearish at 45.90.


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FXStreet (Łódź) - According to FXStreet Editor and Analyst Omkar Godbole, EUR/USD is trading close to the 1.27 area on Tuesday, with the daily RSI bearish at 45.90.

Key quotes

"On the hourly chart, the pair has faced rejection on multiple occasions to sustain gains above 1.2720 levels, opening doors for a re-test of 1.2680-1.2670 levels today."

"The hourly RSI, though above 50, is pointing southwards."

"Moreover, a slump in prices would drag the hourly RSI below 50.00 levels, reinforcing the bearish expectations for the day."

"We could see a lackluster action in the pair so long as it trades in the range of 1.2740 to 1.2670."

"A fresh demand for the Euros can be anticipated above 1.2740 levels."

"On the other hand, prices may dip to 1.2640 levels if the bulls fail to hold the pair above 1.2670 levels."


EUR/USD slipped below 1.27 pressured by Riksbank move
Published On :2014-10-28 10:20:00
Market :Foreign Exchange

EUR/USD got under pressure from rising demand on the USD; currently, it’s trading at 1.2690.


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FXStreet (Moscow) - EUR/USD got under pressure from rising demand on the USD; currently, it’s trading at 1.2690.

The pair had a perfect morning settling above 1.27 in early Asia. However, the news about the Sweden’s central bank cutting rates to zero revived the demand on less riskier assets. The key reason the Riksbank named in its statement was very low inflation that could drive the Nordic economy onto deflationary spiral. The move of the regulator reminded the market of the same problems within the euro zone, and sent the pair below 1.27. If the fears keep growing, it may push the pair further down with initial target at 1.2667.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2696, with support below at 1.2667, 1.2637 and 1.2608, with resistance above at 1.2726, 1.2755 and 1.2785. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.2728 and the daily 20EMA bearish at 1.2728. Hourly RSI is bearish at 48.



Technical Studies :

Updated At - 2014-10-28 10:15:00

OPEN = 1.2694  |  CLOSE = 1.2693  |  HIGH = 1.2695  |   LOW = 1.2687
BID = 1.2693  |  ASK = 1.2693  |   PERCENT = 0.0079
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Neutral  |   Strength = 0  |  OBO Recommendation = Neutral

ECB buys €1.704B of covered bonds in first week - Deutsche Bank
Published On :2014-10-28 10:20:00
Market :Forex Flash

Jim Reid, Head of Global Fundamental Credit Strategy at Deutsche Bank, notes that the ECB purchased €1.704B of Covered bonds last week, broadly in line with projections.


Full Content

FXStreet (Łódź) - Jim Reid, Head of Global Fundamental Credit Strategy at Deutsche Bank, notes that the ECB purchased €1.704B of Covered bonds last week, broadly in line with projections.

Key quotes

"The result was broadly in line with what was expected but it’s a long way to go to reach a Trillion Euros."

"We still think they'll have to do Government QE to get there, a view shared by our Economists."
"They simply don't think there's enough private securities to be able to realistically buy enough bonds to meet their target."

"My team contributed to a section in this week's Focus Europe where the conclusion is that buying corporate bonds is a decent possibility but that they will still eventually need to do full QE to get the desired volumes."


Swedish 2-year bond yield falls into negative
Published On :2014-10-28 10:14:00
Market :Macro

The two-year Swedish bond yield fell below 0% today, after the country’s central bank cuts its main interest rate to zero.


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FXStreet (Mumbai) - The two-year Swedish bond yield fell below 0% today, after the country’s central bank cuts its main interest rate to zero.

The Riksbank cut its main repurchase, or repo, rate from the previous level of 0.25%. The sharp fall in the yields is mainly due to the fact that the markets were expecting the Riksbank to cut rates to 0.05%. Moreover, the inflation in Sweden is stuck near zero for most of this year, well below the target rate of 2%.

The two-year yield, usually considered as a barometer of short term interest rate expectations, has declined below zero levels to trade at -0.044%. The yields were stuck in a range of 0.005% to 0.05% since mid-October. Meanwhile, the ten-year yield has declined to 1.215%.


BoJ unlikely to accelerate monetary easing this week - BTMU
Published On :2014-10-28 10:14:00
Market :Forex Flash

Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ comments on the BoJ monetary policy meeting, which takes place this Friday and isn't expected to bring accelerated asset purchases.


Full Content

FXStreet (Łódź) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ comments on the BoJ monetary policy meeting, which takes place this Friday and isn't expected to bring accelerated asset purchases.

Key Quotes

"The BoJ will also hold a monetary policy meeting at the end of this week alongside which they will release their latest outlook report for economic activity and prices. We do not expect the BoJ to announce an accelerated pace of monetary easing despite the disappointing performance of the Japanese economy since the implementation of the sales tax hike in April."

"There was some encouraging news overnight as it was revealed that retail sales expanded strongly for the second consecutive month by 2.7% in September providing evidence that the negative impact from the sales tax hike continues to fade. The sharp decline in the price of crude oil has also increased downside risks to the outlook for inflation in the near-term."

"BoJ Governor Kuroda continued to strike an optimistic tone overnight before the Committee on Financial Affairs reiterating that monetary easing has been exerting its intended effects, and that the Japanese economy remains on a path suggesting that their 2% inflation target will be achieved as expected. Deputy Governor Kikuo Iwata also spoke overnight stating that the time frame to achieve their 2.0% inflation target is not as rigid as a 'train schedule'."

"The comments suggest that the BoJ remains reluctant to accelerate asset purchases in the near-term. The BoJ’s updated inflation forecasts are likely to signal that they still expect the annual rate of core inflation excluding the impact of the sales tax hike to accelerate towards their 2.0% target in the next fiscal year. In these circumstances, accelerated BoJ monetary easing is unlikely to provide a trigger for further yen weakness in the near-term."


Markets in wait-and -see mode ahead of the FOMC - Societe Generale
Published On :2014-10-28 10:09:00
Market :Forex Flash

Kit Juckes, Global Head of Currency Strategy at Societe Generale observes that stock markets have calmed this week after the recent volatility.


Full Content

FXStreet (Łódź) - Kit Juckes, Global Head of Currency Strategy at Societe Generale observes that stock markets have calmed this week after the recent volatility.

Key Quotes

"(They are) waiting to see how the volatility of recent weeks will affect growth and thereafter monetary policy."

"The ECB's AQR has been and gone, leaving participants wondering what to focus on."

"Today sees the start of a 2-day FOMC meeting that is widely expected to leave the policy statement largely unchanged, but to finally put bond purchases to bed."


EUR/GBP dreams of 0.79, but…
Published On :2014-10-28 10:05:00
Market :Foreign Exchange

EUR/GBP opened the day at 0.7876, and slowly drifted higher, posting 0.7891 intraday high in early Europe.


Full Content

FXStreet (Moscow) - EUR/GBP opened the day at 0.7876, and slowly drifted higher, posting 0.7891 intraday high in early Europe.

Ever since the cross came below 0.79 barrier, it made two attempts to come back. However, the recently released IFO report confirmed that the corporate sector of Germany expects even worse in future, despite the unconventional tools the ECB launched to stimulate the economy. Meanwhile, the pound is getting stronger on revived expectations that the BOE will outpace the Fed in rates hike race. This may help the cross to go further down with initial target at 0.7861 support.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7879 with support below at 0.7861, 0.7844, and 0.7826, with resistance above at 0.7896, 0.7914, and 0.7931. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.7915 and the daily 20EMA flat at 0.7896. Hourly RSI is bullish at 58.



Technical Studies :

Updated At - 2014-10-28 10:00:00

OPEN = 0.7885  |  CLOSE = 0.7888  |  HIGH = 0.789  |   LOW = 0.7884
BID = 0.7887  |  ASK = 0.7888  |   PERCENT = -0.038
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Neutral

No further US dollar gains expected in the near-term post-FOMC - BTMU
Published On :2014-10-28 10:03:00
Market :Forex Flash

Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ suggests that the Fed monetary policy meeting on Wednesday shouldn't be a trgiigger for a USD rise in the near-term.


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FXStreet (Łódź) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ suggests that the Fed monetary policy meeting on Wednesday shouldn't be a trgiigger for a USD rise in the near-term.

Key Quotes

"We still expect the Fed to bring an end to QE3 which should provide a more supportive environment for the US dollar going forward."

"The Fed’s balance sheet has increased significantly by around USD1.7 trillion to almost USD4.5 trillion since QE3 was announced in September 2012. US labour market conditions have improved significantly over that time period justifying the Fed’s likely decision to bring an end to QE."

"The unemployment rate has continued to decline sharply from 8.1% at the end of August 2012 to 5.9% at the end of September 2014. However, there have been less signs of improvement in achieving the inflation side of the Fed’s mandate."

"The annual rate of change in the core PCE deflator remains subdued at 1.5% in August matching the rate from two years ago. Market-based measures of inflation expectations have also declined notably over the last couple of months alongside the sharp decline in the price of crude oil. In these circumstances, we expect the updated FOMC statement to still signal caution over tightening policy."

"The Fed is also likely to maintain their commitment to keep low rates for a “considerable time” after QE has ended, although Fed members have recently attempted to make the time commitment before the first rate hike more vague. Fed Vice Chairman Fischer has stated that their considerable time commitment could mean anything from two months to one year."

"The statement may also acknowledge the weaker outlook for global growth. A still dovish FOMC policy statement alongside bringing an end to QE will likely help to dampen US dollar strength in the near-term."


Italy Business Confidence came in at 96, above expectations (94.9) in October
Published On :2014-10-28 10:00:00
Market :Indicators


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Big Auctions from fed this week
Published On :2014-10-28 09:49:00
Market :Macro

The treasuries are trading flat before the US government sells USD 108 billion of notes this week. The Federal Reserve (Fed) is expected to end its monthly bond purchase program tomorrow while maintaining the dovish outlook on the interest rates.


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FXStreet (Mumbai) - The treasuries are trading flat before the US government sells USD 108 billion of notes this week. The Federal Reserve (Fed) is expected to end its monthly bond purchase program tomorrow while maintaining the dovish outlook on the interest rates.

The US will auction USD 29 billion of two-year notes today and USD 35 billion of five-year treasuries tomorrow. It also plans to sell USD 15 billion of two-year floating-rate debt on Oct. 29 and USD 29 billion of seven-year securities on Oct. 30.


US Durable goods orders and consumer confidence data in focus - Danske
Published On :2014-10-28 09:48:00
Market :Forex Flash

The Danske team of analysts comment on the possible results of the US Durable goods orders and consumer confidence releases, due out later today.


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FXStreet (Łódź) - The Danske team of analysts comment on the possible results of the US Durable goods orders and consumer confidence releases, due out later today.

Key quotes

"In the US, durable goods orders are due for release and consensus is for an increase of 0.5% m/m in September."

"It should be noted that there was a sharp decline of 18.4% m/m in orders in August but it followed an even bigger increase of 22.5% m/m in July due to huge Boeing orders."

"Core durable goods shipments (excl. defence and airplane orders), which is a good proxy for equipment investment, increased in both July and August and are also expected to increase in September."

"Note that we expect a slight decline in GDP growth in Q3 to 3.0% y/y after a really strong rate of 4.6% y/y in Q2."

"US consumer confidence is also released and we expect an increase to 87.0 in October after it declined to 86.0 in September. The decline in September followed a period of increases and the trend is still up, although there was a clear setback in September."


USD/JPY sidelined below 108.00
Published On :2014-10-28 09:40:00
Market :Foreign Exchange

The greenback is now looking to break above the consolidation pattern around 107.90, keeping USD/JPY trading in sub0-108.00 levels...


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FXStreet (Edinburgh) - The greenback is now looking to break above the consolidation pattern around 107.90, keeping USD/JPY trading in sub0-108.00 levels.

USD/JPY focus on US docket

Spot keeps the very narrow range on Tuesday, although the 108.00 band still remains unconquered. Results from the Japanese calendar showed Retail Trade expanded at an annual pace of 2.3%, surpassing both estimates and August’s print. In the meantime, the 2-day FOMC meeting will start today and is expected to announce the end of the QE3 programme tomorrow. “The outlook for this pair remains mixed and further sideway trading is likely albeit at a lower range. Expected range for today; 107.55/108.10”, suggested strategists at UOB Group.

USD/JPY levels to watch

The pair is now advancing 0.09% at 107.91 with the next resistance at 108.38 (high Oct.27) ahead of 108.74 (high Oct.8) and then 109.09 (76.4% of 110.09-105.20). On the downside, a break below 107.64 (Kijun Sen) would open the door to 107.61 (low Oct.27) and finally 107.39 (high Oct.20).



Technical Studies :

Updated At - 2014-10-28 09:30:00

OPEN = 107.94  |  CLOSE = 107.91  |  HIGH = 107.96  |   LOW = 107.9
BID = 107.9  |  ASK = 107.94  |   PERCENT = 0.03
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 4  |  OBO Recommendation = Neutral

Sweden Riksbank Interest Rate Decision down to 0% from previous 0.25%
Published On :2014-10-28 09:33:00
Market :Central Banks


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DAX opens above a key resistance
Published On :2014-10-28 09:32:00
Market :Stocks, Oil & Metals

The German equity index, Dax, has opened above the critical technical level of 8903, after having closed just below the same yesterday.


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FXStreet (Mumbai) - The German equity index, Dax, has opened above the critical technical level of 8903, after having closed just below the same yesterday.

The Dax is trading 1.04% higher at 8995.80 levels. The index breadth is positive with an advance decline ratio of 30:0. Among the index stocks, Deutsche Telekom, Deutsche Boerse, K&S, and Heildelbergcement have gained more than 2% each. The strength in the German equities has pushed up the Ten-year Bund yield to 0.878%, up from the yesterday’s low of 0.861%.

Moreover, the equity prices recovered yesterday after reports came-in that the European Central Bank (ECB) spent 1.704 billion euros last week on covered bonds under a new purchase program. However, analysts say that the ECB will not get anywhere near the 600-billion-euro mark, if it continues to purchase at the same rate in the future.

Dax Technical levels

The index has an immediate support of 8903 (Aug. 8 low), under which the prices can fall to 8837 levels. Meanwhile, the index can extend its gains today to 9131 levels, if the immediate resistance of 9084 is taken out.


Sweden Retail Sales (YoY) down to 2.8% in September from previous 4.7%
Published On :2014-10-28 09:31:00
Market :Indicators


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Sweden Retail Sales (MoM) down to -0.6% in September from previous 1.9%
Published On :2014-10-28 09:30:00
Market :Indicators


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Sweden Producer Price Index (MoM) fell from previous 1% to -0.3% in September
Published On :2014-10-28 09:30:00
Market :Indicators


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GBP/USD met a barrier on the way higher
Published On :2014-10-28 09:30:00
Market :Foreign Exchange

GBP/USD met resistance around 1.6125 in late Asia, and had to retreat to current 1.6113.


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FXStreet (Moscow) - GBP/USD met resistance around 1.6125 in late Asia, and had to retreat to current 1.6113.

The pound came back above 1.61 again on weaker than expected US data, and may go even further. The market is still in doubts who will be the first to hike - the BOE, or the Fed? Series of negative surprises out of the USA strengthens the case for a prolonged period of ultra-low rates. And if the looming FOMC meeting confirms this, the pair have a good opportunity to recover to September highs. For now, the initial target to the upside may be located at 1.6153 resistance, once 1.6125 barrier is broken.

What are today’s key GBP/USD levels?

Today's central pivot point can be found at 1.6116, with support below at 1.6084, followed by 1.6047 and 1.6015 with resistance above at 1.6153, followed by 1.6185 and 1.6222. Hourly Moving Averages are mixed, with the 200SMA at 1.6081, and the daily 20EMA flat at 1.6120. Hourly RSI is bullish at 55.



Technical Studies :

Updated At - 2014-10-28 09:30:00

OPEN = 1.6113  |  CLOSE = 1.6119  |  HIGH = 1.612  |   LOW = 1.6112
BID = 1.6118  |  ASK = 1.612  |   PERCENT = -0.0372
Pivot Points S1 = 0  |   Pivot Points S2 = 0  |   Pivot Points S3 = 0
Pivot Points R1 = 0  |   Pivot Points R2 = 0  |   Pivot Points R3 = 0
Recommendation = Bullish  |   Strength = 2  |  OBO Recommendation = Neutral

Sweden Trade Balance (MoM): 1.4B (September) vs -2.8B
Published On :2014-10-28 09:30:00
Market :Indicators


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Sweden Producer Price Index (YoY): 1.7% (September) vs previous 2.7%
Published On :2014-10-28 09:30:00
Market :Indicators


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FXStreet.com (Barcelona)