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Forex market reviews

19 October 2015

Media reviews

Natalya Indeeva

There’s No Way to Avoid Default Without Raising the Debt Limit, Treasury Says (News: 19/10/15)

The U.S. Treasury Department rejected again on Friday the idea that so-called payment prioritization would provide a way for the U.S. to avoid a severe hit to its creditworthiness if Congress didn’t raise the federal borrowing limit before the Treasury runs out of cash.
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Market sessions

Vladislav Antonov

Euro Being Sold Before ECB Convenes

Due to the approaching ECB meeting, market participants on Monday began to reassess the open positions in their portfolio. After the ECB’s Ewald Nowotny made some remarks last week, traders began shedding euros and Swiss francs. They are temporarily transferring funds into British pounds and commodity currencies. Traders are worried that on Thursday the ECB could undertake additional measures with regards to the current QE program.
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Commodities

Anna Kokoreva

Saudi Arabian Oil Reserves at Maximum Since 2002

Saudi Arabia has built up its commercial oil reserves to 326.6 million barrels as of August this year. This is the largest amount for the previous 13 years. At the same time, oil exports from the Saudi Kingdom are down: in July they stood at 7.28 million barrels per day and in August they were a meagre 7 million barrels per day.
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Market sessions

Analyst Contest participant

Alpari Analyst

Chinese GDP Down to Minimum Since 2009

China’s GDP in Q3 of 2015 has slowed to 6.9% and as such is the worst it has been since March 2009. In Q1 and Q2 of this year the economic growth for the country stood just above 7% YoY. However, in Q3 the expectations has been set at 6.8%.
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Trading ideas

Vladislav Antonov

Short-term Trading Idea FX USD/JPY – Bull Speculation: Recoil from Support

Trading opportunities for currency pair: the USD/JPY has broken from the 118.40 support. A strengthening of the dollar to 120.60 and 121.60 can be expected using the pinbar model.
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Trading ideas

Vladislav Antonov

Short-term Trading Idea FX EUR/CAD – Bear Speculation: Development on 31st August Ideas

Trading opportunities for currency pair: the euro is under pressure since market participants expect the ECB to extend its QE program. Due to these expectations and the stable oil price around 50 USD, expect the euro to fall to 1.4490 and below. A close of the weekly candle above 1.4930 will stop any fall.
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Trading ideas

Vladislav Antonov

Short-term Trading Idea FX EUR/USD – Bear Speculation: Bear Takeover

Trading opportunities for currency pair: ECB representative Ewald Nowotny pushed the eurobulls into closing long positions. It’s highly likely that before the ECB’s Thursday meeting, we’ll see the downward movement on the euro resuming. I’ve picked out two price levels: 1.1250 and 1.1086 (by middle of November), with 1.0290 over the medium term.
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16 October 2015

Media reviews

Natalya Indeeva

Federal Reserve Policymakers Downplay Divisions on US Rate Hike

U.S. Federal Reserve policymakers are not as divided as it may appear and are generally operating under the same framework for determining when to raise interest rates, one Fed official said on Thursday, while another said the differences of opinion reflect the countervailing economic data.
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Commodities

Anna Kokoreva

Brent Trading $50.2

At the end of the week, oil growth is weak. Brent on November contracts is trading slightly above yesterday’s closing price; at $50.2. WTI with November delivery is up a little more and is stood at around $47 per barrel. Growth in the quotes is being held back by negative oil reserve stats from the US. According to the EIA, last week’s oil reserves were up by 7.562 million barrels.
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Market sessions

Vladislav Antonov

Pound/Dollar: Expected Consolidation in Wide Range

Due to the euro, the pound had a volatile day. The pound received support from the euro/pound cross throughout the day when the ECB’s Ewald Nowotny spoke. The pound fell after the US stats came out in the evening. By renewing the minimum, the price returned back to 1.55.
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Market sessions

Vladislav Antonov

Euro/Dollar Bull Takeover on Daily

The euro/dollar’s 5-day growth has ground to a halt. Trading in Europe saw the euro down due to the ECB’s Ewald Nowotny sticking his oar in and then the US stats came out in the evening which added to the fall. Nowotny suggested that the ECB should adopt additional measures to aid inflation growth.
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Alexander Razuvaev
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