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http://i1261.photobucket.com/albums/...ps8241bbb2.pngFixed income markets are on tendor hooksFXstreet.com (Barcelona) - Fixed income markets are on tendor hooks ahead of the FOMC and other central banks meeting this week. Treasuries are currently subject to speculation to the Fed trimming its bond buying programme this year. They are poised for a third monthly decline before the Fed decision this evening. The U.S. are scheduled to announce the size of 10 and 30 yr debt auctions due for next week and could start to cut sales by $40b-$100b during the next year and many anticipate reductions as soon as next month. This has spurred a widening of the 2-10yr yields and the market and prices will now be data sensitive this afternoon. US ADP employment change will be released and we then have US Q2 GDP in focus. What will be interesting is the markets reaction to the new GDP monitoring system that makes up the data. The US Government has invented a new way of calculating the data that now includes R&D spending, art, music, film royalties, books and theatre, and some will argue it is not comparable with the rest of the global nations. Eye sill be keen to these data and the spreads are already as wide as 231 basis points as demand is decreasing from investors who are looking for longer tem maturities. The U.S. 10 year yield fell 0.01 pct to 2.60 at 6.30 am EST and the 1.75pct note with May maturity rose $1.25 to 92 23/32.”OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official pageJuly 31, 2013OctaFX.Com News Updates
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USD/CHF jumps above 0.9325
FXstreet.com (San Francisco) - With a stronger dollar following the upbeat GDP figures, the USD/CHF has jumped around 65 pips in minutes from 0.9270 to break above the intra-day highs around 0.9325 and reach fresh highs around 0.9335.
Currently, the USD/CHF is trading at 0.9325, 0.30% positive on the day. The short term perspective is slightly bullish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
Above 0.9325, next resistances are at 0.9335, 0.9380 and 0.9400. On the downside, 0.9770, 0.9250 and 0.9180 are supports.
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July 31, 2013
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USD/CHF offered sub 0.9300
FXstreet.com (Barcelona) - USD/CHF attempted a recovery overnight from support zone 0.9260 but has since been rejected just shy of 0.9300.
USD/CHF is holding up at 0.9280 for the time being on what has been a quiet European session so far across the board. . Today on the event side of things we have a little bit of US data starting out wit the Trade Balance (Jun) expected -$43.10B. Then we will see Redbook Index (YoY) and (MoM) (Jul 28). For Switzerland, we will wait for tomorrow and see the outcomes of CPI (MoM) and (YoY) (Jul).
USD/CHF moves below pivot 0.9293
USD/CHF has filed to the topside of its overnight run and has ticked below the pivot 0.9293. The 20d ma is 0.9370, 50 d ma is 0.9393 and the 200 d ma 0.9359. RSI (9) reads 38.02. Supports are ascending from 0.9130, 0.9176, 0.9226, 0.9246 while spot is currently trading at 0.9275. Resistances are 0.9280, 0.9310, 0.9333 and 0.9395
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Aug 6, 2013
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EUR/JPY correcting lower
FXstreet.com (Edinburgh) -The EUR/JPY is hovering over the area of 130.25/30 on Tuesday, down from session highs in the proximity of 130.70.
EUR/JPY well supported around 129.00
The par is meandering between 129.00 and 133.00 since early July, reflecting the lack of clear direction in the single currency so far. Strategists Geoffrey Yu and Gareth Berry at UBS remain bullish on the cross, arguing, “The cross advanced after the test of critical support at 129.77. With the MACD still above the zero line, the risk is for further upside. Resistance is at 133.80”.
EUR/JPY support and resistance levels
The cross is now losing 0.01% at 130.31 and a breach of 129.81 (low Aug.6) would expose 129.38 (cloud top) and finally 129.35 (low Jul.31). On the upside, the next hurdle aligns at 130.72 (high Aug.6) followed by 130.91 (Tenkan Sen line) and then 1.31.55 (high Aug.5).
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Aug 6, 2013
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Flash: USD/JPY to smart from dollar weakness - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank is expecting no surprises expected out of the BOJ’s Wed-Thu meeting.
Key Quotes
“The USD/JPY may well continue to smart from broad based dollar softness in the near term.”
“The pair is currently contemplating the 98.00 floor with the next support expected at 97.60 before 97.00.”
“In the interim, 99.00 should cap barring further USD positive rhetoric from the Fed.”
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Aug 6, 2013
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Flash: BOJ preview: Likely to remain on hold - BAML
FXstreet.com (London) - Strategists Masayuki Kichikawa, Shogo Fujita, Shusuke Yamada, Setsuko Yamashita and Shuichi Ohsaki at BofA Merrill Lynch noted the BoJ coming up this week.
Key Quotes:
“The BoJ's next policy meeting is on 7-8 August. We do not expect it to make any changes to its policy framework, such as the base money target, the pace of asset accumulation, or the IOER”.
“The BoJ might need to consider additional easing in three cases: (1) if downside risks increase for the economic growth and inflation outlook; (2) if doubts arise about the effects of its quantitative and qualitative easing, in the form of an unacceptable rise in long-term yields, for example; and (3) if overseas economies falter and the yen appreciates”.
“With no change expected, we look for rates and FX to be range-bound. We favor receiving the belly, like JPY 3y1y, for its good rolldown”.
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Aug 6, 2013
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US: IBD/TIPP Economic Optimism deteriorates to 45.1 in August against forecasts
FXstreet.com (Barcelona) - The sentiment of US consumers dropped to 45.1 in August from 47.1 in July, the Investor's Business Daily (IBD) TechnoMetrica Institute of Policy and Politics (TIPP) informed on Tuesday. Analysts expected an improvement to 47.9.
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Aug 6, 2013
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Flash: Sterling could test 200 d ma 1.5545 - BBH
FXstreet.com (Barcelona) - Marc Chandler, Global Head of Currency Strategy at BBH notes that Sterling traders are cautious of a surprise from Carney.
Key Quote:
“We think caution of a surprise by Carney has prevented sterling from benefiting from the improved economic data and the modest backing up of interest rates”.
“ Barring, then, a significant surprise from Carney, we suspect sterling could trade higher; recover further against the euro, where the ECB is likely to keep rates low for longer (and risk renewed tensions after the summer holidays and German election)”.
“Against the dollar, sterling can test the late July high near $1.5435. A break of that area, which also corresponds to a retracement objective from the June 17 peak near $1.5750 would likely encourage a test on the 200-day moving average seen near $1.5545”.
OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official page
Aug 6, 2013
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EUR/USD extends gains above 1.3300
FXstreet.com (Córdoba) - The EUR/USD picked up fresh momentum and extended gains above 1.3300 after one Fed Lockhart reportedly said the Fed could start tapering its bond-buying program at any of 3 remaining FOMC meetings this year.
USD weighed by taper talk
Amid broad USD weakness, EUR/USD managed to break above the 1.3300 level and climbed to a high of 1.3320 in recent dealings as US stocks and commodities tumble. At time of writing, EUR/USD is trading at the 1.3310/15 zone, where it records a 0.4% rise on the day.
EUR/USD levels to watch
Immediate resistance is now seen at 1.3345 (Jul 31 high) followed by 1.3400 (psychological level), while supports could be found at 1.3255 (100-hour SMA) and 1.3230 (Aug 5 low).
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Aug 6, 2013
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EUR/USD bounces after short-lived correctionFXstreet.com (Córdoba) - The EUR/USD staged a short-lived correction from daily highs, sliding toward the 1.3280 area before finding support.EUR/USD back above 1.3300However, EUR/USD managed to climb back above the 1.3300 mark most recently as bears lacked determination to drag the pair lower. The EUR/USD is currently trading at the 1.3310 zone, where it records a 0.4% gain on the day in a low-volume quiet summer session, with Fed Evans saying that he wouldn't clearly rule out September tapering weighing on the greenback. EUR/USD technical levelsTechnically speaking, the EUR/USD could face immediate resistances at 1.3320 (daily high) and 1.3345 (Jul 31 high) followed by 1.3400 (psychological level), while supports might be found at 1.3255 (100-hour SMA) and 1.3230 (Aug 5 low).OctaFX.Com - Please click here to see Financial News/Forex News on OctaFx official pageAug 6, 2013OctaFX.Com News Updates