OctaFX | OctaFX Forex Broker
Open trading account

Forex: EUR/HUF extends its downside, around 291.30

The Hungarian forint is prolonging its appreciation against the single currency on Friday after the trade surplus in Hungary decreased to €192.3 million during December from €659.5 million in the previous month. Market consensus was expecting a €362.5 million surplus.

“Despite the recent HUF rally, we remain relatively bearish HUF and expect EUR/HUF to break through the 300 barrier in the coming month before testing the 38.2% Fibonacci retracement of the mid-2011 to early 2012 rally at 300.42”, assessed Christian Lawrence, analyst at Rabobank.

The pair is now down 0.47% at 291.36 with the immediate support at the psychological level at 290.00 followed by 287.65 (low Jan.3) and then 286.60 (MA200d).
On the upside, a breakout of 294.15 (MA21d) would expose 294.40 (MA10d) and then 300.00 (high Jan.28).

Forex: USD/CAD surges after disappointing Canada jobs data

The Canadian dollar weakened and fell to a 1-week low versus the greenback after data showed Canada's economy unexpectedly cut 21,900 jobs in January.
Read more Previous

Forex Flash: Weak-ish Canada jobs data raises caution for BoC rates – TD Securities

TD Securities say that data releases from China (somewhat distorted by seasonal factors) and the modestly better bid tone for European stocks have not had that much impact on the CAD, that has been tracking the USD’s moves against the other majors step for step.
Read more Next
Start livechat