OctaFX - Forex Market Reviews

OctaFX
Majors guided by ECB decision today

The main thing the FX market is waiting for from the ECB is for it to revisit its forward guidance on rates - and, as this is unlikely to be touched...

OctaFX
Dollar drops and rebounds from 95.10

The decline in the index finds some respite near 95.10. US 10-year yields dropped to lows near the 2.81% handle. FOMC minutes next of relevance...

European stocks rally, eye 2-month high

Commodity producers and banking stocks advanced on Monday, pushing the European equities higher with regional benchmark eyeing 2-month high...

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VIP Partners rewards - The luxury you deserve

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Negative rates, a tiered system and the ECB

Lasse Holboell Nielsen, Research Analyst at Goldman Sachs, suggests that the prospect of further cuts in central bank policy resulting in rates going deeper into negative territory has had an adverse impact on investor confidence in banks...

US and Euro area PMIs in focus today

Research Team at Danske Bank, suggests that the US and Eurozone PMI data will be the key economic releases for the day in addition to the UK retail sales data...

Oil hit lowest since 2003

Oil prices fell to their lowest since 2003 in Asia as investors prepared for a rise in the Iranian exports after sanctions against the country were lifted over the weekend...


Bullish price-indicator crossover in GBP/USD

A bullish crossover between the GBP/USD current rate and its 200-hour SMA has been detected. The ascending GBP/USD price finds itself en route to the 800-SMA, which carries an equal resistance to the 200-SMA on 4hr charts...

World growth shrinking

Raoul Leering, Head of International Trade Research at ING Bank explained world trade volume shrank by 0.5% in October (month-on-month growth in volumes), according to the Netherlands Bureau for Economic Policy Analysis...

Bank of England rate decision preview

The GBP/USD pair is trading largely unchanged on the day around 1.5180 following a 180 pip rally on Wednesday. The immediate focus is now on the Bank of England (BOE) rate decision and minutes release...

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easyMarkets lets you protect your trade against losing

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Rout in miners continues, FTSE 350 mining index at 11-year lows

The mining stocks continue to get hammered into submission on account of the rout in the commodity prices throughout 2015. The FTSE 350 mining index crashed to 11-year low on Tuesday and extended losses by another 2.23% or 155 points to 6808 levels...

USD being too bullish

The main event on the economic calendar today is the release of the minutes of the October FOMC. Since the statement that accompanied this meeting left the door open for a December Fed rate hike, it can be assumed that the tone of today release will be relatively hawkish...

Gold strengthens, treasury yields recover losses

Gold prices trade on a positive note in Europe, while the treasury yields recovered losses amid signs of strength in the major European equity futures...


USD: Supported by Fed rate hike bets

There are upside risks to retail sales, and let us not forget the small matter of the 3 Dec ECB meeting. Draghi appears to be vacillating in recent days on the question of whether the ECB will ease policy further but until that meeting is out of the way markets will likely err on the side of pricing in additional easing...

BoE hold rates with a dovish shift in outlook

James Knightley, Research Analyst at ING, notes that the Bank of England has left monetary policy unchanged, but the surprise was that no-one joined Ian McCafferty in voting for an immediate 25bp rate rise...

European stocks mixed, poised for best monthly gain in 6 years

The stock markets across Europe trade mixed ahead of the monthly closing, but appear on track for its best monthly gain since 2009. At the time of writing, the pan-European Euro Stoxx 600 index advanced 0.20% to trade around 376.46 levels...

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USD prospects remain constructive in the long run

In the view of strategists at Westpac, the perspective for the greenback remains constructive in the longer term...

EUR/USD trims gains, bond yield spread supports EUR

The benchmark bond yield spread gained importance ahead of Thursday's ECB meeting as the central bank is widely expected to hint at more QE and/or negative interest rates. The spread was hovering around 148 basis points (bps) on Monday, before falling to 143 bps today...

Commodities slide, European stocks trim gains

Commodity prices extended the drop, while European stocks trimmed gains as we head into the US session. The pan-European Euro Stoxx 600 index now trades just 0.1% higher on the day around 363.55 levels. At point of time, the index was up more than 0.5% at 366.08 levels...


Brent Oil slightly up after OPEC report

Oil prices rose slightly after the OPEC via its monthly report reduced its 2015 oil demand forecast, but revised next year’s demand forecast higher...

Gold stays comatose even though Treasury yields spike

The spike in the short duration treasury yields in the US on Tuesday has had little effect onGold, which continues to trade comatose in the range of USD 1105/Oz levels...

US Dollar wobbling around 95.00

The selling pressure remains unabated around the US Dollar Index, which tracks the greenback vs. its major rivals, now testing lows in sub-95.00 levels...


No excessive Yuan devaluation if the economy stabilizes

Earlier today, the PBOC economist said they would ease cross border investment in yuan as they raised the net inflow cap for yuan pooling. In response, the offshore CNY was set for its biggest single daily gain on record...

USD: US labour market on a solid trajectory

Lee Hardman, Currency Analyst at MUFG notes that the recent NFP data release has indicates the improving labour Market conditions in the US which is one of the key condition for the Fed to begin increasing rates...

Euro zone retail sales rebound in July, albeit miss estimates

Retail sales in the euro area returned to growth in July on a monthly basis, albeit slightly missing estimates, the Eurostat reported on Thursday...


Stronger USD boosting Australian gold production

A stronger US dollar is helping drive Australian gold production and buffeting local prospectors from the effects of a global sell-off in bullion, according to a sector survey released on Sunday and as reported via Reuters...

European markets rejoice global rally

European indices rebounded sharply on Thursday as renewed optimism hit the markets following the US and Asian stocks rally. Stocks in Asia rallied on Thursday, with the closely-watched Shanghai Composite index jumping 5.34% at the market close after a huge sell-off recently...

Gold bounces-off $ 1133

Gold prices on Comex extends its downward trajectory for the third straight session on Wednesday, as the PBOC rate cut appears to have stabilized markets across the board, fuelling the drop in the safe-haven- gold...


EUR focused on ECB-speak today

The recent performance of the single currency will be in the limelight today in light of the speech by ECB V.Constancio...

Gold regains $ 1100 and beyond

Gold prices on Comex extend its recovery from five-year lows and held on to solid gains in the European session as the US dollar retreat across the board helped the yellow metal to correct previous week’s slump...

Gold trades flat, awaits US data

Gold prices traded flat around USD 1175/Oz as investors weigh up the outlook for the US economy and interest rate increases, and whether Greece will reach a compromise with its creditors and keep its place in the Eurozone...


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