28Oct
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IForex Market Trading Signals and News – 28 October 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX -Dollar droops as equities come under pressure before Fed meeting
  • FOREX -Safe-haven yen gains in cautious mood ahead of Fed
  • FOREX -AUD/USD almost unchanged in cautious trade

EUR/USD
EUR/USD is showing limited movement on Tuesday, as the pair trades at 1.1050 in the European session. The markets are keeping a close eye on the key event of the week, as the Federal Reserve issues its policy statement on Wednesday. EUR/USD little changed at 1.1050 as diverging monetary expectations continued to weigh on the single currency.The.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, edged down 0.06% to 96.86.

GBP/USD
The pound remained lower against the dollar on Tuesday after data showing that economic growth in the U.K. slowed at a faster than expected rate in the third quarter. GBP/USD was last at 1.5328, off 0.16% for the day from around 1.5329 earlier. The Office for National Statistics said gross domestic product expanded 0.5% in the three months to September, slowing from 0.7% in the second quarter and worse than economists’ forecasts of 0.6% growth.The dollar remained on the back foot after a disappointing report on U.S. home sales prompted investors to trim back expectations for a rate hike before the years end.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5352 TARGET 1.5372 1.5400 SL 1.5322
  • SELL GBP/USD BELOW 1.5310 TARGET 1.5290 1.5260 SL 1.5340

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