Daily Archives: October 22, 2014

22Oct
forex-market-hours

IForex Market Trading Signals and News – 22 October 2014

TRADING TIPS :

  • Forex-Euro pushes higher against dollar, gains capped.
  • Forex-AUD/USD higher after RBA minutes, Chinese data.
  • Forex- Dollar lower against yen as growth in China slows.

USD/JPY
USD/JPY was down 0.63% to 106.26 from 106.93 late Monday.China’s economy grew at an annual rate of 7.3% in the three months to September, official data on Tuesday showed, slightly higher than the 7.2% forecast by economists, but slowing from 7.5% in the second quarter.It was the slowest rate of growth since the first quarter of 2009, in the midst of the global financial crisis.The slowdown fuelled fears that China will miss its annual growth target of 7.5% and added to speculation that the government will need to roll out fresh stimulus measures to avert a sharper slowdown.The weak data also added to concerns that weaker global growth could act as a drag on the U.S. economy, dampening dollar demand.

EUR/USD
EUR/USD was up 0.19% to 1.2822, not far from a session high of 1.2840, from 1.2799 late Monday.China’s economy grew at an annual rate of 7.3% in the three months to September, slightly higher than the 7.2% forecast by economists, but slowing from 7.5% in the second quarter.It was the slowest rate of growth since the first quarter of 2009, in the midst of the global financial crisis.The slowdown fuelled fears that China will miss its annual growth target of 7.5% and added to speculation that the government will need to roll out fresh stimulus measures to avert a sharper slowdown.The weak data also added to concerns that weaker global growth could act as a drag on the U.S. economy, dampening dollar demand.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6184-TG:1.6204/1.6234 SL 1.6154
2. Sell GBP/USD Below 1.6130-TG:1.6110/1.6090 SL 1.6160

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