OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: EUR/HUF upside capped around 296.00

FXstreet.com (Barcelona) - The Hungarian forint is losing ground against the single currency on Tuesday after the softer than expected inflation figures in the domestic economy, pushing the cross to the vicinity of 296.00, although faltering afterwards. Consumer prices rose 1.7% in a year to April, below forecasts at 2.1% and lower than March’s 2.2%.

At the moment, the cross is up 0.25% at 295.50 with the next resistance at 296.61 (MA100d) ahead of 298.20 (high May 7) and then 308.55 (high Mar. 18).
On the downside, a breach of 292.12 (low May 10) would aim for 290.25 (low Feb.20) ahead of the psychological mark at 290.00.

Forex: USD/CAD reaches 2-day peak

The US dollar has accomplished gains versus its Canadian counterpart on Tuesday, as disappointing German data triggered risk aversion in financial markets.
Read more Previous

Forex Flash: Yen strengthening has failed to dampen JGB selling – BTMU

The yen has recovered some its recent losses against the US dollar overnight. Japanese Economy Minister Amari spoke overnight reiterating the G7 stance that it is “important that currencies are not volatile” which may have dampened speculative yen selling given that on a trade-weighted basis the pace of yen weakness since October has been equivalent to it losing around a third of its value if continued over a whole year.
Read more Next
Start livechat