OctaFX_Farid Posted October 2, 2015 Author Share Posted October 2, 2015 UK construction output rose to 7-month high in SeptemberFXStreet (Mumbai) - The headline seasonally adjusted Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) jumped to 59.9 in September from August’s 57.3.Key PointsVolumes of new work rose at a robust pace in September. However, the latest increase was the slowest for five months.Employment growth was sustained across the construction sector for the twenty-eighth month running in September.The rate of input price inflation eased to a five-month low.Oct 02,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 2, 2015 Author Share Posted October 2, 2015 EUR/GBP: spike in Sterling quickly erasedFXStreet (Mumbai) - Sterling saw a modest spike on the back of a strong UK construction PMI, pushing the EUR/GBP pair to a low of 0.7355, before recovering to trade around 0.7365 levels.Rejected at 0.74The EUR/GBP pair was rejected earlier today at 0.7397 following which it fell to 0.7370 and extended losses further after the UK construction PMI rose to a 7-month high in September. Though the pair has recovered slightly from its daily lows, it is largely unchanged on the weekly basis.Whether the pair will end the week with gains or losses depends on the US non-farm payrolls report due for release later today.EUR/GBP Technical LevelsThe immediate resistance is located at 0.7400 (weekly 50-MA), above which the gains could be extended to 0.7436 (weekly high). On the other side, support is seen at 0.7350 (10-DMA) and 0.7227 (50-DMA).Oct 02,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 2, 2015 Author Share Posted October 2, 2015 US: Non farm payroll forecast – Danske BankFXStreet (Delhi) – Research Team at Danske Bank, suggest that today's key event is the US is non-farm payroll report and they expect a slowdown in job growth in September to 180,000 and even though this is slower than the recent trend, it is still enough, if sustained, to put additional downward pressure on the unemployment rate.Key Quotes“Over the past three months, the US economy has added, on average, 221,000 jobs per month - a pace that cannot be sustained in an economy where potential labour force growth is only around 150,000 per month and even lower if we do not see an increase in the labour participation rate.”“In our view, job growth will need to drop below the 160,000 mark before the Fed will see it as an obstacle to starting the tightening cycle later this year. In terms of the unemployment rate, we expect the rate to stay unchanged at 5.1% in September but to head below 5% by year-end.”Oct 02,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 5, 2015 Author Share Posted October 5, 2015 NZDUSD: Bullish bias for the week ahead – WestpacFXStreet (Delhi) – Imre Speizer, Senior Markets Strategist at Westpac, suggests that we have flipped to a bullish bias for the week ahead and if today’s break above 0.6455 is sustained, then the 0.6600 area should be targeted.Key Quotes“NZ data has been upbeat lately, notably dairy prices which look set to rise again at this week’s GDT auction. In addition, US data has not been compelling enough for markets to price in a rate hike this year.”“3 months ahead: The next major target area is 0.62, a level which provided support during the middle of 2009. The two main factors expected to contribute to NZD/USD weakness during the next few months are RBNZ easing (we expect the OCR to fall to 2.5% by year end and eventually to 2.0%) and eventual Fed tightening. Disappointments on either of these fronts would call into question our multi-month bearish view.”“1 year ahead: Our 1 year ahead forecast is 0.62, based partly on the OCR being cut to 2.0%.”Oct 05,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 5, 2015 Author Share Posted October 5, 2015 USD: US payroll growth first time below 2% in last one year – SocGenFXStreet (Delhi) – Kit Juckes, Research Analyst at Societe Generale, notes that the US payroll growth peaked at 2.34%y/y in February and the slowdown continued in September, taking the growth rate below 2% for the first time in over a year.Key Quotes“The post-WW2 average is also 1.9% and the turn is hardly dramatic (though softening wage growth in goods-producing sectors is worrying) but the possibility that the US economic cycle has now peaked is going to be much debated. What would that mean for the dollar?”“The market verdict since mid-day Friday is pretty clear as the dollar and yen have fallen while emerging market and high-beta G10 currencies have bounced. But is that the right response in a world lacking an alternative growth engine if the US does slow?”Oct 05,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 5, 2015 Author Share Posted October 5, 2015 JPY: All roads leading towards BoJ monetary policy - MUFG FXStreet (Delhi) – Lee Hardman, Currency Analyst at MUFG, suggests that the yen has weakened modestly in the Asian trading as investor risk sentiment has improved initially as dampened Fed rate hike expectations have for now outweighed the negative implications for the global growth outlook from the weaker payrolls report and in addition to that, Yen weakness also reflects some speculation that the BoJ could ease monetary policy further at their policy meeting this week.Key Quotes“The Bloomberg survey of economists captured the recent dovish shift in BoJ policy expectations. The survey revealed that 17 out of 36 economists now expect the BoJ to ease monetary policy further this month. The majority (15) expect further easing at their meeting on the 30th October with only a couple expecting further easing as early as this week.”“It has been reported that the BoJ would like to assess more information before deciding to implement further easing. The Nikkei has reported that the BoJ may push back the current timeframe of 1H FY2016 to achieve their 2% inflation target when it is likely to lower its inflation and growth forecasts at the end of the month.”Oct 05,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 7, 2015 Author Share Posted October 7, 2015 UK Industrial production preview: What to expect in GBP/USD?FXStreet (Mumbai) - The GBP/USD pair is trading on a strong footing ahead of the UK industrial production report, but the strength is more due to the broad based USD weakness rather than strong UK fundamentals.UK industrial production to recoup part of the July fallThe industrial production in the UK is well-off the peak readings of 2013 and 2014, but the drop of 0.4% month-on-month (m/m) in July was slightly exaggerated. Thus, a bounce of 0.3% m/m is expected in August. On similar lines, the manufacturing activity is seen rebounding 0.4%m/m.Still, there exists a possibility of the downside surprise. The UK PMI reports in July and August had highlighted a drop in the export orders and a slowdown in the activity. Furthermore, the UK exports have also suffered a sequential drop offlate. Hence, the rebound in the industrial production may be slower than expected. However, it may not be a shock to the markets.Heading into the Bank of England (BOE) rate decision tomorrow, a weaker –than-expected UK PMI future would only add to BOE’s worries and leave little scope for the bank to remain hawkish.GBP/USD Technical LevelsThe spot is currently hovering around 1.5248 (50% of Apr-June rally) and the expanding triangle resistance on the daily chart. A break above the same, followed by a rally to 1.53-1.5319 (200-DMA) appears likely in case the industrial production rebounds faster than expected. On the downside, repeated failure to rise above 1.5248 could push the pair back to 1.52 levels. A break below 1.52 followed by a drop to sub-1.5170 levels appears likely in case the UK industrial production contracts.Oct 07,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 7, 2015 Author Share Posted October 7, 2015 UK industrial production rises more than expected in AugustFXStreet (Mumbai) - The UK industrial production rose 1% m/m in Aug, beating the estimated rebound to 0.3% from July’s 0.4% drop. On an annualised basis, the figure rose 1.9%, beating the estimated rebound to 1.2%.Manufacturing output rose 0.5% against an estimate of 0.3%. The UK Office for National Statistics (ONS) report showed the main manufacturing components contributing to the growth were the manufacture of transport equipment; the manufacture of basic metals & metal products; and the manufacture of food, beverages & tobacco.In the 3 months to August 2015, production and manufacturing were 9.4% and 6.5% respectively below their figures reached in the pre-downturn GDP peak in Quarter 1 (Jan to Mar) 2008.Oct 07,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 7, 2015 Author Share Posted October 7, 2015 GBP/USD revisits daily highsFXStreet (Mumbai) - The GBP/USD pair is back near 1.5311 (daily high), after having a breather around 1.53 levels as investors remain cautious in the ranging markets.Supported by 100-MA on 4-hr chartThe pair found support at its 100-MA on 4-hr chart located at 1.5297. A minor dip below the same to 1.5284 quickly ran into bids. Usually an upbeat UK data results in a sudden spike, followed by a second wave of buying.However, we did not see a second wave of buying after the initial spike faded at a high of 1.5311. As said earlier, this may be due to ranging nature of the markets. Ahead in the day, the focus would be on whether Wall Street sustains the risk-on rally or turns risk averse.GBP/USD Technical LevelsThe immediate resistance is seen at 1.5319 (200-DMA), followed by a major hurdle at 1.5353 (200-MA on 4-hr chart). A break above the same would expose 1.5431 (50-DMA). On the downside, a break below 1.5297 (100-MA on 4-hr) could open doors for a technical correction to 1.5250 (support on hourly chart) and 1.52 levels.Oct 07,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 8, 2015 Author Share Posted October 8, 2015 Hungary Consumer Price Index (YoY) down to -0.4% in September from previous 0%FXStreet.com (Barcelona) For more information, read our latest forex news.Oct 08,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 8, 2015 Author Share Posted October 8, 2015 BOE rate decision and minutes preview: What to expect in GBP/USD?FXStreet (Mumbai) - The GBP/USD has taken out the weak resistance of the 200-DMA at 1.5318 earlier today to trade around 1.5340 ahead of the Bank of England rate decision and minutes release.BOE minutes to carry a cautious toneThe BOE is widely expected to keep the interest rates unchanged today, while the BOE monetary policy committee vote split on the interest rate is seen remaining unchanged at 8-1. Meanwhile, the minutes could carry a cautious ton; courtesy of the China/EM and global growth slowdown, drop in the UK exports, and slowdown in the service sector activity.Moreover, the sharp drop in the Fed rate hike bets means there is little scope left for the BOE to remain as hawkish as it was a few months back. The possibility of ECB expanding its QE program has increased as well. Therefore, the hawks at the BOE have little room left to signal a rate hike possibility.The surprise, if it has to come, could be a dovish one in the form of a unanimous vote in favour of keeping rates low. The BOE may also chose to remove the words - “rates could rise at the turn of the year” from its interest rate forward guidance.GBP/USD Technical LevelsAt 1.5340, the pair faces immediate resistance at 1.5380 (weekly 50-MA), above which the spot may run into offers at 1.5409 (38.2% of Apr-Jun rally). If the offers are taken out at one go, the pair could easily extend the rally 100-DMA at 1.5485, however, this looks possible in case the BOE maintains its hawkish stance or the MPC vote split prints at 7-2. On the other side, a cautious tone of the minutes could push the pair below 1.53, under which the pair could target 1.5248 (50% of Apr-Jun rally). A dovish surprise could send the pair down to 1.5170 (June 1 low).Oct 08,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 8, 2015 Author Share Posted October 8, 2015 GBP: BoE tone likely to be more dovish with no surprises - MUFG FXStreet.com (Barcelona) For more information, read our latest forex news.Oct 08,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 8, 2015 Author Share Posted October 8, 2015 PBOC to issue 5 billion yuan of 1-year bills in London soon - ReutersFXStreet (Mumbai) - As reported by Reuters on Thursday, the People's Bank of China (PBOC) plans to issue up to 5 billion yuan (513 million pounds) of one-year bill in London soon, the first such debt issued by the central bank."The deal should be completed this month. ICBC and HSBC are the underwriters," the sources said.The British finance ministry had stated in September that China's central bank would issue a yuan-denominated central bank note in London in the near future. Oct 08,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 8, 2015 Author Share Posted October 8, 2015 USDCAD: Stabilized for now - TDSFXStreet (Delhi) – Research team at TDS, note that the USDCAD pair looks to have stabilized, for now and they are watching for a break to the downside is 1.2950/70 area which is key near-term support.Key Quotes“A clean break below would open up downside potential to 1.2800 but we think that USDCAD may be in the process of forming a base. Even though our high frequency fair value model suggests spot should be trading closer to 1.2885 we would be careful in chasing it lower given the washout in USDCAD longs over the past few trading sessions (which were not overly extended to begin with at least according to the IMM data).”“Rate spreads continue to be the driver of the valuation gap but we tend to find that when spot sits about two standard deviations away from FV that a correction takes place. So, for all intents and purposes, we think the bulk of the move lower in USDCAD has been largely observed.” Oct 08,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 9, 2015 Author Share Posted October 9, 2015 Japan: August core machinery orders down, may turn negative in Jul-Sep quarter - Nomura FXStreet (Delhi) – Research Team at Nomura, note that the Japanese Core machinery orders (private sector, excluding orders for ships and from electric power companies) in August 2015 fell 5.7% m-m, which is a much weaker result than the consensus forecast (Bloomberg survey median) for growth of 2.3%.Key Quotes“Jul-Aug orders were also down 11.3% versus the Apr-Jun average, raising the prospect of Jul-Sep orders turning negative q-q for the first time in five quarters.”“While we think the pace of quarterly contraction is colored by a reactive decline to major orders from the steel industry in May, we would note that Jul-Aug average orders were still down 7.2% versus the Apr-Jun average even after steel industry orders have been stripped out.”Oct 09,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 9, 2015 Author Share Posted October 9, 2015 BOJ easing coming this October amidst uncertainty– Goldman SachsFXStreet (Delhi) – Naohiko Baba, Research Analyst at Goldman Sachs, suggests that in the middle of large global uncertainty, BOJ is likely to ease further in its forthcoming policy meeting on October 30.Key Quotes“We estimate that the BOJ will significantly lower its FY2015 real GDP growth forecast to around +1.0% yoy from +1.7% as of July, and lower its inflation forecast to around +0.3% from +0.7%. We also expect it to slightly lower its FY2016 price outlook.”“Kuroda’s comments seem to be calculated to accommodate either more, or no more, easing. While strongly affirming the effects of the BOJ’s unprecedented easing, Governor Kuroda appears to be drawing various lines of defense considering the possibility that the BOJ may need to ease further in the near future.”“It appears to be closely watching the direction to be taken by the third Abe Administration, which has just been inaugurated.”“BOJ’s main options are extending the duration of its JGB purchases and increasing ETF purchases.”Oct 09,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 9, 2015 Author Share Posted October 9, 2015 USD/JPY keeps highs near 120.20FXStreet (Edinburgh) - The Japanese yen is depreciating across the board at the end of the week, taking USD/JPY to session peaks in the 120.15/20 area.USD/JPY boosted by risk appetiteThe dovish tone from the FOMC minutes on Thursday morphed into positive news for Asian equities today, adding further downside pressure to the Japanese currency.Market participants continue to push back expectations for a Fed’s lift-off at some point later this year (traders are currently betting on Q1 2016), giving further wings to the riskier assets and undermining any bullish attempts in the yen.USD/JPY levels to watchAs of writing the pair is gaining 0.16% at 120.12 and a breakout of 120.57 (monthly high Oct.5) would open the door to 121.10 (55-day sma) and finally 121.41 (200-day sma). On the downside, the immediate support aligns at 119.65 (Fibo 61.8% of 125.28-116.16) followed by 118.68 (low Oct.2) and then 116.16 (post-PBoC low Aug.24).Oct 09,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 9, 2015 Author Share Posted October 9, 2015 EUR/GBP capped below hourly 200-SMA on poor UK dataFXStreet (Mumbai) - The cross in the EUR/GBP keeps the bid tone intact in the European morning, with the pound little changed following the worse-than estimate datasets from the UK.EUR/GBP hovers around hourly 100-SMACurrently, the EUR/GBP pair rises 0.41% to 0.7377, heading for a test of 0.74 handle. The EUR/GBP pair kept the range near session highs after the UK’s trade balance and construction out data failed to lift the sentiment around sterling.On Friday, the ONS showed that the UK’s trade deficit held steady at -11.1B in August, although missed expectations of a -10.0B reading. While the construction output negatively surprised, falling by a -4.3% m/m in Aug, against expectations of a 1% rise.While the cross remains elevated largely on a stronger euro versus the US dollar after the Fed minutes failed to impress the USD bulls.Later in the day, the cross will be influenced by the sentiment on European stocks as well as on the Wall Street.EUR/GBP Technical LevelsTo the upside, the next resistance is located at 0.7383 (Hourly 200-SMA), above which it could extend gains to 0.7400 (psychological levels). To the downside immediate support might be located at 0.7352 (50-SMA, 20-SMA confluence on H1) below that at 0.7300 (50-DMA).Oct 09,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 9, 2015 Author Share Posted October 9, 2015 GBP: Timing of a Fed move is not decisive for timing of the BoE – Deutsche BankFXStreet (Delhi) – Research Team at Deutsche Bank, note that the BoE governor has dismissed all speculations about the BoE move should be only after Fed’s move and suggested that this is not the case.Key Quotes“Over at the BoE, after voting to hold rates (as expected) on an 8-1 majority, the committee made mention to ‘a deterioration in the global demand environment’ which could slow the pace of expansion further, making special mention to the slowdown in emerging markets and China.”“Despite some dovish tints in the statement, BoE Governor Carney, speaking later in the day, offered a slightly different angle saying that timing of a Fed move is not decisive for timing of the BoE, making mention in particular that over the course of five rate cycles since the UK adopted inflation targeting, the BoE has moved before the Fed in two of them.”“Carney was also slightly more hawkish on the inflation outlook, noting that ‘importantly we are seeing building wage pressures’ and that ‘you can achieve your inflation target even in the face of some very large external forces’.”Check here for recent report on BoE titled "BoE Governor Carney still considering raising rates this year - MUFG"Oct 09,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 12, 2015 Author Share Posted October 12, 2015 EUR/USD SMA cross argues move higherThe recapture of previous swing highs has resulted in a cross of the EUR/USD 50-period above the 200 SMA.The signal emerged on 4-hour charts further bolstering the near-term EUR/USD price structure. While breakout traders will wait for a close above recent tops to negotiate a new bull move, less conservative participants will expect a re-test of the crossing level to prove benevolent for continued upside.Oct 12,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 12, 2015 Author Share Posted October 12, 2015 European stocks trade in the red, DAX bucks the trendFXStreet (Mumbai) - The European stocks wiped out opening gains and turned negative, bringing an end to the recent streak of gains, and completely shrugged-off the strong performance seen on the Chinese bourses.The macro calendar offers no data-flow, and the session ahead is expected to remain calmer as the US markets are closed on account of a public holiday.European stocks slide on profit-taking?The German index, the DAX, appears to ditch its other European counterparts and defends mild gains, largely supported by utilities companies. RWE and E.ON rallied 10.30% and 7.60%, respectively after positive corporate news. Unlike the German benchmark, the UK’s FTSE keeps losses in sync with the mining-giant Glencore after the company announced on that it is planning to sell two of its copper mines in Australia and Chile.Meanwhile, Germany’s DAX trades 0.27% higher to 10,124 points, while the UK’s FTSE loses 0.38% to 6,393. Among the other indices, the French CAC 40 index drops -0.37% to 4,684, while the pan-European Euro Stoxx 50 index trades -0.20% to 3,243 points.Oct 12,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 12, 2015 Author Share Posted October 12, 2015 Fed accepts that US potential growth has slowed – BBHFXStreet (Delhi) – Research Team at BBH, note that the US Fed has accepted the fact that the US potential growth has slowed which can be seen in the Fed's observation that the US economy had been growing above trend.Key Quotes“This is what it means when NY Fed President said before the weekend that nonfarm payroll growth of 120-150k is likely sufficient to continue to push the unemployment rate down.”“The Fed's staff estimate suggests trend growth in the US is about 1.75% through the end of the decade. It means that those warning that the US economy has not achieved that famed "escape velocity" are using a metric that may no longer apply. The strong growth was, in part, made possible by the baby boom generation. Population growth has slowed, and in an increasing number of high and medium income countries, falling.”“Dudley also acknowledged that an inventory overhang will weigh on growth here in the second half of the year. That instructs us to watch final demand (GDP inventories) and consumption. Consumption is around two-thirds of the economy, and provided consumption remains robust, we should not rule out a December hike.”Oct 12,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 12, 2015 Author Share Posted October 12, 2015 WTI Oil offered at 50% retracement, now trades in the redFXStreet (Mumbai) - The West Texas Intermediate (WTI) December futures ran into offers closer to USD 50.165 (50% R of May to Aug plunge) to trade with moderate losses in the NY session.Hovers above key supportAt USD 49.40, prices are just a few cents above a strong support on the daily chart located at USD 49.32. Prices had received a minor boost after the OPEC, via its monthly report, revised its 2015 global demand forecast lower and 2016 forecast higher.However, prices failed to take out key Fib resistance mentioned above at USD 50.165. Meanwhile, losses are being capped by the moderate weakness in the USD index.WTI Oil Technical LevelsThe immediate support is seen at 49.32 (Aug 31 high), under which the prices could drop to 47.78 (Sep 17 high). On the other side, resistance is seen at 50.165 (50% of May to Aug plunge) and 50.93 (previous day’s high).Oct 12,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 12, 2015 Author Share Posted October 12, 2015 No need for emergency Franc measures – Swiss PresidentFXStreet (Mumbai) - Switzerland’s President was on the wires today stating that there is no need to introduce emergency measures to help the economy deal with a rise in the value of CHF.President Simonetta Sommaruga said the Franc “was not that strong anymore”. On Saturday, the Swiss National Bank chairman said that the central bank sees a low risk of a negative price and wage spiral and expressed hope that a recent slight depreciation in the CHF will continue. Oct 12,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
OctaFX_Farid Posted October 12, 2015 Author Share Posted October 12, 2015 EUR/USD stuck in a 20-pip rangeFXStreet (Mumbai) - The EUR/USD has been restricted in a narrow range of 1.1360-1.1380 in the last couple of hours as the trading interest remains low on account of a holiday in the US.Awaits China dataThe investors now await the Chinese trade balance data for September due for release tomorrow. A sharp drop in the exports and imports could heighten concerns regarding the slowdown in the global economy as well the world’s second largest economy.The data could significantly affect the overall risk sentiment in the markets and affect the EUR/USD pair. The Chinese data would be followed by a final German CPI reading. As for today, the pair is likely to continue trading lacklustre.EUR/USD Technical LevelsThe immediate resistance is seen at 1.14, above which the spot could target 1.1460 (Sep 18 high). If taken out on a closing basis, the pair could test 1.1621 (Aug 25 high). On the lower side, a break below 1.1353 (daily low) could push the pair back to 1.13 levels. Oct 12,2015OctaFX.Com News Updates Trade with OctaFX - the Most Reliable Forex broker! Quote Link to comment Share on other sites More sharing options...
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