7Oct

IForex Market Trading Signals and News – 07 October 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX -NZD/USD edges up near 5-week highs despite N.Z data
  • FOREX – AUD/USD rises to 2-week highs as RBA holds
  • FOREX -Aussie gains after RBA holds rates steady

JPY/USD
The dollar dipped against the yen on Tuesday, easing back from one-week highs but the yen remained on the defensive amid speculation that the Bank of Japan could soon ease monetary policy, while the euro inched higher. USD/JPY eased 0.19% to 120.23, off overnight highs of 120.57.The yen was lower in early trade as Asian stocks rose to two-week highs as a rebound in oil prices and fading expectations for a rate hike by the Federal Reserve this year boosted risk appetite. In the euro zone, data on Tuesday showed that German factory orders fell unexpectedly in August, adding to concerns that slowing global growth is starting to affect the euro area’s largest economy.Industrial orders fell 1.8% from a month earlier, compared to expectations for a 0.5% increase. The euro was flat against the yen, with EUR/JPY at 134.78.

EUR/USD
The EUR/USD pair trades 0.21% higher at 1.1211, with the 50-DMA located at 1.1227 in sight. The shared currency clings to gains above 1.12 barrier this session, as the greenback remains pressured on the back of falling US treasury yields after the recent weak US macro data pushes Fed rate hike expectations to early 2016. The benchmark 10-year treasury yields drop -0.68% to 2.042%. While the 2-year yields on the US notes drop -1.94% to 0.597%. The EUR/USD pair trades 0.21% higher at 1.1211, with the 50-DMA located at 1.1227 in sight. The shared currency clings to gains above 1.12 barrier this session, as the greenback remains pressured on the back of falling US treasury yields after the recent weak US macro data pushes Fed rate hike expectations to early 2016. The benchmark 10-year treasury yields drop -0.68% to 2.042%. While the 2-year yields on the US notes drop -1.94% to 0.597%.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5200 TARGET 1.5220 1.5250 SL 1.5170
  • SELL GBP/USD BELOW 1.5150 TARGET 1.5130 15100 SL 1.5180

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