OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/CHF quiet above 0.9215/20

The USD/CHF went as high as 0.9246 as flash GDP publications in Europe and the ECB monthly report broke risk sentiment down, revealing wider than expected recession in Q4 2012, while ECB Constancio admitted the possibility of pushing interest rates to negative ground.

Since then, the USD/CHF fell to 0.9215/20 area, where it is still quoting, +0.50% higher on the day. US data didn't trigger any kind of direction to the market. Initial jobless claims in the US came in lower than expected, at 341K instead of the 360K consensus. Continuing claims also improved, at 3.114M instead of the 3.200M expected.

"I think today the price may leave this consolidation channel downwards and start a correction with the target at 0.9100", wrote Roboforex.com analyst Igor Sayadov, expecting then a new ascending structure with the target at 0.9280.

Forex: GBP/USD hovering around 1.5500

After falling to a fresh 6-month low sub-1.5500, the GBP/USD managed to stabilize in a narrow range at the beginning of the American session, with the latest report on US jobless claims having no impact on the cross.
Read more Previous

Commodities Brief – gold prices rally on waning equities

Gold prices made several attempts at the 1650 level earlier today during European trading as weak GDP data across the continent breathed repeated life into the yellow metal. However, these gains were also met with volatility, as the pair touched the 1641 level twice before bouncing back in these moments to trade positively at USD $1646.41, up +$2.21 at the US open. Presently, gold operates above the 20 and 50-day SMA, though the prices seem to have stabilized and found ground at the 1641 region (session low). Conversely, Silver prices have also moved higher, trading in the region of USD $30.98, though the prices here have stalled. With US equities stumbling at the open, gold prices seem primed to recoup some of their earlier losses on the week.
Read more Next
Start livechat