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GBP/USD next target aligns at 1.5492 – BBH
FXStreet (Edinburgh) - The research team at BBH signalled the next target for GBP/USD could be around the 1.5492 level.
Key Quotes
“It tested the 20-day moving average (~$1.5465). It too has retraced a little more than 38.2% o the losses from the last August spike (~$1.5420) and the early September low (~$1.5165)”.
“The next objective (50% retracement) is just above $1.5492. The 50- and 100-day moving averages around found in the $1.5515-$1.5525 range”.
“Soft inflation and retail sales data may be mitigated by an uptick in average weekly earnings and a generally healthy labor market report. However, if the $1.5340 level goes, sterling may retest its recent lows”.
Sep 14,2015
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GBP/USD trims gains near 1.5450, focus shifts to UK CPI
FXStreet (Mumbai) - The bid tone surrounding the GBP/USD pair is seen reducing in the mid-European session, as the US dollar erases most losses against its major peers, with traders now shifting focus towards UK’s CPI due tomorrow in an otherwise quiet session.
GBP/USD drops from 1.5470 region
The GBP/USD pair trades 0.20% higher at 1.5457, retreating from fresh 3-day high posted at 1.5471 in early dealings. The cable keeps its recovery mode intact from 1.5400 levels and trades firmer on expectations of an improved headline UK CPI figure due to be reported on Tuesday.
The UK CPI is expected to have risen 0.2% in August, moving back to positive territory from a 0.2% decline in the previous month.
Moreover, the diminishing bets of Fed rate hike this week and even for this year, keeps the greenback broadly lower, helping the upside in the GBP/USD pair.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5471 (Today’s High) above which gains could be extended to 1.5509 (Aug 27 High) levels. On the flip side, support is seen at 1.5400 below which it could extend losses to 1.5368 (Aug 27 Low) levels.
Sep 14,2015
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European stocks defend gains post EZ data
FXStreet (Mumbai) - European stocks started the day on an optimistic note and now keeps the green, ignoring China fears led-negative close for major Asian indices, as the growing uncertainties over the timing of the Fed rate-hike continue to lift investors’ sentiment.
Upbeat EZ data cheered
More so, the European indices remain elevated as markets cheer the latest above estimates Euro zone industrial production data which helped fill-in an otherwise calmer European session.
Eurostat reported July's industrial output data for the euro zone, which grew 0.6% and 1.9% on a monthly and annual basis, respectively, improving from June and also better than analysts had expected.
Germany's DAX 30 index pared gains and now trades 0.20% higher at 10,142, while the UK's FTSE 100 index advances 0.85% to 6,169.50 ahead of Tuesday’s UK CPI figures. Among the other indices, the French CAC 40 index gains 0.20% to 4,559, while the pan-European Euro Stoxx 50 index rises 0.27% to 3,196.50.
Sep 14,2015
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UK annualised CPI stalls in August
FXStreet (Mumbai) - The data released by the UK Office for National Statistics (ONS) on Tuesday showed the UK annualised CPI in August stalled as expected, compared to the 0.1% rise seen in July.
Month-on-month, the CPI printed in line with the estimates at 0.2%, compared to the 0.2% drop seen in July. Core inflation dropped to 1.0% year-on-year as estimated.
As per the ONS report, “A smaller rise in clothing prices on the month compared with a year ago was the main contributor to the slight fall in the rate. There were also downward effects from changes in motor fuel prices and sea fares. Rising prices for soft drinks and for furniture and furnishings partially offset the fall.”
Sep 15,2015
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EUR/CHF losing altitude, near 1.0970
FXStreet (Edinburgh) - The Swiss franc is now reclaiming some of the ground lost to the single currency during the Asian trading hours, taking EUR/CHF to the 1.0970 area.
EUR/CHF upside capped at 1.1000
The upside momentum in the cross seen overnight has found tough resistance around the psychological barrier at 1.1000 today, triggering the current correction lower ahead of the opening bell in Euroland.
Data wise in the region, Swiss ZEW Survey-Expectations is due later, followed by the final CPI figures in the euro area during last month. Consensus expects headline prices to have risen 0.2% YoY while the core reading is seen at 1.0%.
EUR/CHF relevant levels
At the moment the cross is losing 0.06% at 1.0972 with the next support at 1.0922 (low Sep.10) ahead of 1.0878 (low Sep.9) and finally 1.0832 (low Sep.7). On the other hand, a break above 1.1011 (high Sep.15) would aim for 1.1049 (high Sep.11) and then 1.1100 (psychological level).
Sep 16,2015
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EUR/CHF losing altitude, near 1.0970
FXStreet (Edinburgh) - The Swiss franc is now reclaiming some of the ground lost to the single currency during the Asian trading hours, taking EUR/CHF to the 1.0970 area.
EUR/CHF upside capped at 1.1000
The upside momentum in the cross seen overnight has found tough resistance around the psychological barrier at 1.1000 today, triggering the current correction lower ahead of the opening bell in Euroland.
Data wise in the region, Swiss ZEW Survey-Expectations is due later, followed by the final CPI figures in the euro area during last month. Consensus expects headline prices to have risen 0.2% YoY while the core reading is seen at 1.0%.
EUR/CHF relevant levels
At the moment the cross is losing 0.06% at 1.0972 with the next support at 1.0922 (low Sep.10) ahead of 1.0878 (low Sep.9) and finally 1.0832 (low Sep.7). On the other hand, a break above 1.1011 (high Sep.15) would aim for 1.1049 (high Sep.11) and then 1.1100 (psychological level).
Sep 16,2015
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ECB’s QE to stay longer – Danske Bank
FXStreet (Edinburgh) - Analysts at Danske Bank see the possibility that the ECB could extend its current ‘quantitative easing’ programme beyond the original date of September 16th.
Key Quotes
“ECB President Draghi was very dovish at the latest meeting at the beginning of September and based on this we expect the ECB to extend QE purchases beyond September 2016”.
“Our changed expectation comes mainly from the fact that the ECB now projects headline inflation to be only around 0.9% in Q2 16 and 1.2% in Q3 16 when the ECB is set to end QE purchases”.
“In our view, the ECB will continue its purchases if inflation is around these levels and we continue to believe that the ECB is too optimistic on its outlook for core inflation, as slack in the labour market will still be a headwind to higher wage growth in 2016”.
Sep 16,2015
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ECB’s QE to stay longer – Danske Bank
FXStreet.com (Barcelona) For more information, read our latest forex news.
Sep 17,2015
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Fed interest rate decision showdown; 25bp hike? - RBS
FXStreet (Guatemala) - Analysts at RBS explained that the FOMC September decision is released tomorrow, and we forecast the FOMC will hike the target range for the Fed Funds rate by 25bp.
Key Quotes:
"Along with a hike, we anticipate the forecasts and language may be used to reinforce an extremely slow pace of tightening and a purely data-dependent outlook for the Fed Funds rate. A result in line with our expectations would support the USD, in our view – monetary policy divergence remains a theme, even as all central banks feel the global dovish pressure of softening EM growth."
"While the FOMC meeting understandably is the key event in the US tomorrow, August housing starts and the Philadelphia Fed index for September are released in the US tomorrow as well.
Sep 17,2015
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