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EUR/USD at session lows while European equities rise

FXStreet (Mumbai) - The EUR/USD pair fell to fresh session lows of 1.1212 levels as the funding currencies like the EUR are being ditched amid the rally in the major European equity markets.

Supported by hourly 100-MA

The pair found support at its hourly 100-MA located at 1.1213 levels and recovered to trade at its hourly 200-MA located at 1.1218 levels. The EUR; already weak due to the drop in German retail sales, extended losses on account of a 1.2% gain in the pan-European Euro Stoxx 600 index.

The investors now await the Eurozone CPI figure, which is likely to show the cost of living in the 17-nation currency bloc dipped in September. The EZ CPI would be followed by the monthly US ADP employment report. Heading into these key reports, the pair is likely to track the sentiment in the major European markets.

EUR/USD Technical Levels

The immediate resistance is seen at 1.1232 (hourly 50-MA), above which the pair could target 1.13 levels. On the other side, support is seen at 1.1212 (hourly 100-MA) and 1.1177 (200-DMA).




Sep 30,2015
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USDCAD: GDP increase likely to break string of five consecutive declines – TDS

FXStreet (Delhi) – Prashant Newnaha, Rates Strategist at TD Securities, suggests that Canadian industry-level real GDP is forecast to have increased by 0.2% m/m in July and this forecasted gain would build on the 0.5% monthly pop in June which in turn broke the streak of five consecutive monthly declines.

Key Quotes

“Growth should be supported in large part by the manufacturing industry and the temporary lift from the PanAm games. Activity elsewhere is expected to be more subdued, with a soft performance expected from the real estate sector and in retail sales.”

“The rebound in growth to start Q3—currently tracking around 2.2-2.5%—will help eclipse the Bank of Canada’s very conservative 1.5% annualized forecast which will provide ample justification to keep the overnight rate on hold.”




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EUR/USD bounces-off lows, near 1.1230 post German data

FXStreet (Mumbai) - The EUR/USD pair bounced-off lows and trimmed losses amid strong rebound seen in the European stocks, while markets continue to digest the latest set of economic releases from Germany.

EUR/USD supported at hourly 100-MA

The EUR/USD pair trades -0.17% at 1.1229, recovering from fresh session lows struck at 1.1212 levels in last hours. The main currency pair keeps the bearish tone intact as the euro remains undermined after the recent series of German data, including the latest employment report, disappointed markets.

Tuesday’s German CPI stood below expectations, falling 0.2% y/y while the latest retail sales figures for August also missed estimates, down 0.4% on a monthly basis versus the 0.2% expected.

The country’s employment report showed an increase of 2k registered unemployed in Sept, after a revised 6k decrease posted in Aug. The German jobless rate held steady at 6.4%.

Further, European markets rallied on Wednesday, further boosting the risk-on market profile and the risk currency – US dollar, thereby driving EUR/USD lower.
Later in the day, markets now await Eurozone flash CPI and labour market report ahead of the US ADP figures and Fed Yellen’s speech.

EUR/USD Technical Levels

The pair has an immediate resistance at 1.1285 (Sept 29 High), above which gains could be extended to 1.1331 (Sept 21 High) levels. On the flip side, support is seen at 1.1200 (Psychological levels) below which it could extend losses to 1.1163 (Sept 24 Low) levels.




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USD/JPY at fresh highs amid risk-on rally in equities


FXStreet (Mumbai) - The risk-on rally in the European equities reduced the demand for the Yen and other traditional safe haven assets, thereby ensuring the USD/JPY pair extended gains to print a fresh session high of 120.22 levels.

Trades above hourly 200-MA

The spot sits comfortably above its hourly 200-MA located at 120.07 levels. The risk-on seen in Europe pushed the Yen lower across the board and pushed the treasury yields higher. The pan-European Euro Stoxx 600 index strengthened more than 1%.

Ahead in the day, the focus is likely to be on the US ADP employment report, which could show the private sector in the US added 190K jobs in September. Apart from that, the sentiment on the Wall Street could influence the pair as well.

USD/JPY Technical Levels

The immediate resistance is seen at 120.60 (Monday’s high), above which the pair could target 120.88 (200-DMA). On the other side, support is seen at 119.68 (daily low) and 119.00 levels.




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GBP/USD turns positive on UK data

FXStreet (Edinburgh) - The pound is accelerating its recovery to the area of 1.5170 vs. the greenback, with GBP/USD coming back from lows near 1.5130.

GBP/USD keeps the recovery post-UK data

The pair is extending the rebound from session troughs near 1.5130 after another revision of the UK GDP has shown that the economy has expanded at an annual pace of 2.4% during the second quarter vs. 2.6% expected and 0.7% inter-quarter.

Further data have shown Business Investment expanding 1.0% on a year to August, sensibly lower than the previous 2.9% advance, while the Current Account deficit shrunk to £16.8 billion during the same period.

GBP/USD significant levels

As of writing the pair is up 0.08% at 1.5162 with the next resistance at 1.5205 (high Sep.29) followed by 1.5241 (high Sep.28) and finally 1.5263 (high Sep.25). On the flipside, a break below 1.5131 (low Sep.30) would aim for 1.5089 (low May 7) and then 1.5035 (low Apr.24).





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EUR/GBP cracks 0.7300 on UK data

FXStreet (Mumbai) - The cross in the EUR/GBP extended losses and hammered through 0.73 barrier, following the release of the UK’s GDP report and the current account data.

EUR/GBP breaks below hourly 50-MA

Currently, the EUR/GBP pair falls -0.42% to fresh session lows of 0.7392, failing to resist the hourly 50-MA then located at 0.7405. The EUR/GBP cross accelerated to the downside as the pound was boosted across the board after the UK Q2 GDP showed solid growth momentum while the current account deficit narrowed in the second quarter.

The ONS showed that the UK's GDP stood solid in the second quarter, remaining at 0.7% q/q. While the current account deficit narrowed to GBP16.8 billion in Q2, down from a revised deficit of GBP24 billion in previous quarter.

The cross remains pressured also on EUR/USD weakness as dismal German datasets continue to weigh on the investors’ sentiment. Meanwhile, focus now shifts towards the EZ CPI and employment data due later today for further momentum.

EUR/GBP Technical Levels

To the upside, the next resistance is located at 0.7431 (Today’s High) levels and above which it could extend gains to 0.7487 (May Highs) levels. To the downside immediate support might be located at 0.7333 (Sept 28 Low) below that at 0.7292 (Sept 11 Low).





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China boosts its gold reserves in August by 16 tonnes

FXStreet (Mumbai) - China boosted its gold holdings in August by 1% to 54.45 million troy ounces, the People's Bank of China announced on Wednesday. The move by the China’s central bank is largely seen as an effort to diversify the economy’s foreign exchange reserves.

As Bloomberg reports, “The hoard rose to 54.45 million troy ounces in August from 53.93 million ounces a month earlier, according to data released by the central bank on Wednesday."

"China ended six years of mystery surrounding the holdings in July, revealing a 57 percent jump since 2009 and overtaking Russia to become the country with the fifth-largest stash.”






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GBP/JPY above hourly 100-MA after UK GDP data

FXStreet (Mumbai) - The GBP/JPY pair quickly jumped to trade above its hourly 50-MA located at 182.44 levels even though the annualised Q2 GDP figure was revised lower by the UK Office for National Statistics.

Technical correction amid risk on rally

Sterling is witnessing a technical correction after the ONS left the growth rate unchanged at 0.7% q/q. Meanwhile, the Japanese Yen is under pressure on account of the risk-on rally in the European equity markets. Even the US index futures are trading in the green.

Consequently, the stage appears set for the GBP/JPY to witness a technical correction after having shed more than 700 pips in last six trading sessions.

GBP/JPY Technical Levels

The pair clocked a high of 182.70, before falling back slightly to trade around 182.50. The immediate resistance is located at 182.53 (5-DMA), followed by a major hurdle at 183.31 (Sep 29 high). On the other side, support is seen at 180.95 (Tuesday’s low) and 180.36 (Sep 7 low).







Sep 30,2015
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GBP/JPY above hourly 100-MA after UK GDP data


[B]


FXStreet (Mumbai) - The GBP/JPY pair quickly jumped to trade above its hourly 50-MA located at 182.44 levels even though the annualised Q2 GDP figure was revised lower by the UK Office for National Statistics.

Technical correction amid risk on rally

Sterling is witnessing a technical correction after the ONS left the growth rate unchanged at 0.7% q/q. Meanwhile, the Japanese Yen is under pressure on account of the risk-on rally in the European equity markets. Even the US index futures are trading in the green.

Consequently, the stage appears set for the GBP/JPY to witness a technical correction after having shed more than 700 pips in last six trading sessions.

GBP/JPY Technical Levels

The pair clocked a high of 182.70, before falling back slightly to trade around 182.50. The immediate resistance is located at 182.53 (5-DMA), followed by a major hurdle at 183.31 (Sep 29 high). On the other side, support is seen at 180.95 (Tuesday’s low) and 180.36 (Sep 7 low).








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EUR/USD muted on EMU’s CPI





FXStreet (Edinburgh) - The European currency kept the composure after the release of EMU’s CPI figures, with EUR/USD hovering over the 1.1230/20 band.

EUR/USD in red above of 1.1200

The pair remained within the recent range despite consumer prices in the euro area have disappointed expectations, with CPI contracting at an annual pace of 0.1% vs. forecasts for a flat reading and down from July’s 0.1% advance. The core print stayed put at 0.9%, matching estimates.

Further releases have seen the unemployment in the euro bloc ticking higher to 11.0% during August, up from the 10.9% previous and initially forecasted. Next of relevance in the pair will be the ADP Employment Change (195K exp.) followed by the speech by Chairwoman J.Yellen.

EUR/USD levels to watch

As of writing the pair is losing 0.18% at 1.1227 and a breakdown of 1.1194 (low Sep.29) would aim for 1.1146 (low Sep.28) and then 1.1105 (low Sep.23). On the other hand, the initial resistance aligns at 1.1281 (high Sep.29) followed by 1.1296 (high Sep.24) and finally 1.1330 (high Sep.21).








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