OctaFX | OctaFX Forex Broker
Open trading account

Forex: AUD/USD remains below 1.0200

FXstreet.com (Barcelona) - The demand for the Aussie dollar remains subdued on Wednesday, unable to gather traction in order to follow through the key resistance at 1.0200, despite the favourable atmosphere for riskier assets.

“The RBA has tended to show its hand ahead of key data, as history shows… With a relatively unanticipated 25-bps cut today, I would be expecting weak Australian and Chinese data over the next few days, all of which could underpin a move in AUDUSD towards $1.0000 by the end of May”, assessed Christopher Vecchio, Currency Analyst at DailyFX.

AUD/USD is now up 0.06% at 1.0190 with the next hurdle at 1.0210 (hourly highs May 7) ahead of 1.0221 (low Apr.23) and finally 1.0270 (hourly high May 6).
On the downside, a break below 1.0116 (2013 low Mar.4) would expose 1.0100 (low Jul.12 2012) and then 1.10021 (low Jun.29 2012).

Forex: USD/CHF falls to 0.9386/88 on upbeat German industrial production

The USD/CHF upside was stymied at the 0.9405 level, whereby upbeat German economic data triggered a fall for the pair. While the cross ultimately failed to stabilize above the 0.9400 level, its worth noting that the decline has been contained above calculated support, preserving a greater decline. At the time of writing, the pair is now settling at 0.9386/88, now at an amplified loss of -0.17% off its opening Wednesday.
Read more Previous

European equity markets secure gains after upbeat German industrial data

The European stock markets yielded a higher performance Wednesday, having operated in the absence of any catalysts outside the recent release of German economic data. In particular, the paramount data release of the European session has concluded with the Industrial Production s.a. w.d.a. (YoY) coming in at -2.5% in March, vs. expectations of -3.8%. In addition, Industrial Production s.a. (MoM) yielded a climb of +1.2% in March, against estimates of just -0.1%.
Read more Next
Start livechat