OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/JPY falls back to the 96.00 support

FXstreet.com (Barcelona) - The market has been already testing the 96.00 mark since earlier in the day, while being limited at 96.25 area on the upside. The publication of US Consumer Price Index in February triggered a move back to the psychological level, keeping the price below the flat level of 96.11.

The February CPI data in the US rose by 0.7% instead of the expected 0.5%. The annualized figure improved from 1.6% to 2.0%, also beating the 1.5% consensus. Excluding food and energy data came in as expected, at 0.2% (MoM) and from 1.9% to 2.0% (YoY).

Disappointing market consensus, the NY Empire State Building Manufacturing Index dropped from 10.04 to 9.24 in March, below the expected 10.0. Ahead are US TIC net flows, industrial production and Reuters/Michigan consumer sentiment index.

“My outlook here is negative and I expect a break through 95.87 to initiate a sell-off towards 95.07”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to initial intraday resistance at 96.30.

Forex: USD/CHF falls to 0.9400 on higher than expected US CPI

The sideways movement at 0.9420/30 range throughout the European session after an earlier drop from the opening price area of 0.9472 came to an end on the release of US CPI data. Higher than expected figures are weighing on the greenback against its counterparts. The USD/CHF fell from 0.9430 down to the 0.9400 psychological level, with a spike reaching 0.9397.
Read more Previous

Forex: GBP/USD makes new high after US CPI

The Cable extended its advance to fresh daily highs after data showed US consumer prices rose slightly more than expected in February, while the NY manufacturing index slipped in March.
Read more Next
Start livechat