epic research singapore : - daily iforex report of 04 november 2015
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Iforex Market Insight
INTERNATIONAL CURRENCY
BUZZ
ECONOMIC CALENDAR
GBP/USD HOURLY CHART
EUR/USD HOURLY CHART
EPIC RESEARCH SINGAPORE
www.epicresearch.sg Iforex Market Insight Report By Epic Research Singa-
Iforex Market Insight
Date– 04–NOV
INTERNATIONAL CURRENCY BUZZ
EUR/USD
GBP/USD The pound remained almost unchanged against the dollar on Tuesday after data showing that
the U.K. construction sector posted another month of solid growth in October.GBP/USD was last
at 1.5411 from around 1.5418 ahead of the data.The Markit U.K. construction purchasing man-
agers' index ticked down to 58.8 last month from 59.9 in September, matching economists’ fore-
casts.Business activity continued to rise in all three construction sub-categories, survey compiler
Markit said.The report came one day after a similar survey of the U.K. manufacturing sector
showed that activity expanded at the fastest rate in 16 months in October, bolstering the out-
look for fourth quarter growth. The Federal Reserve left rates on hold last week but indicated
that it could still raise interest rates for the first time since 2006 at its December meet-
ing.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted bas-
ket of six major currencies, was up 0.17% to 97.17.
FOREX -Higher risk appetite drives Aussie higher as RBA stands pat
FOREX -Dollar treads water, Aussie edges up after RBA stands pat
FOREX -Euro steady on ECB comments; yen falls on U.S., Europe data
The EUR/USD pair trades -0.34% lower at fresh session lows of 1.0977, moving further away
from 1.10 barrier. Growing monetary policy divergence between the Fed and ECB, with the for-
mer on track to raise rates this year and the ECB hinting last month of further easing in Dec, con-
tinues to weigh on the EUR/USD pair.Moreover, Monday’s better than expected US manufactur-
ing PMI reports further fuelled rate hike bets for this year and keeps the shorter-duration US
treasury yields underpinned, thus boosting the USD bulls. The 2-year treasury yields now rally
over 1.14% to 0.762%. Meanwhile the USD index rises 0.24% to 97.23.
Later in the day, markets eagerly await the US factory data and ECB Draghi’s speech due for fresh
insights on the EUR/USD pair. The EUR/USD pair finally gave away the 1.10 handle and acceler-
ated to the downside in the mid-European trades, failing to benefit from weak European stocks
amid broad based US dollar rebound
Iforex Market Insight
Date– 04–NOV
www.epicresearch.sg Iforex Market Insight Report By Epic Research Singapore
ECONOMIC CALENDAR
Time Cur. Event Forecast Previous
Wednesday, November 4, 2015
00:30 EUR ECB President Draghi Speaks - -
03:05 USD API Weekly Crude Oil Stock - 4.100M
03:15 NZD Employment Change (QoQ) (Q3) 0.4% 0.3%
03:15 NZD Unemployment Rate (Q3) 6.0% 5.9%
06:00 AUD Retail Sales (MoM) (Sep) 0.4% 0.4%
06:00 AUD Trade Balance (Sep) -3.000B -3.095B
14:30 EUR ECB President Draghi Speaks - -
14:30 EUR Markit Composite PMI (Oct) 54.0 54.0
14:30 EUR Services PMI (Oct) 54.2 54.2
15:00 GBP Services PMI (Oct) 54.5 53.3
16:00 USD FOMC Member Brainard Speaks - -
18:45 USD ADP Nonfarm Employment Change (Oct) 180K 200K
19:00 USD Trade Balance (Sep) -41.10B -48.30B
20:15 USD Markit Composite PMI (Oct) - 54.5
20:15 USD Services PMI (Oct) 54.6 54.4
20:30 USD Fed Chair Yellen Testifies - -
20:30 USD ISM Non-Manufacturing Employment (Oct) - 58.3
20:30 USD ISM Non-Manufacturing PMI (Oct) 56.5 56.9
Iforex Market Insight
www.epicresearch.sg Iforex Market Insight Report By Epic Research Singa-
EUR/USD HOURLY CHART
BUY GBP/USD ABOVE 1.5420 TARGET 1.5440 1.5470 SL 1.5390
SELL GBP/USD BELOW 1.5360 TARGET 1.5340 1.5310 SL 1.5390
GBP/USD HOURLY CHART
BUY EUR/USD ABOVE 1.1040 TARGET 1.1060 1.1090 SL 1.1010
SELL EUR/USD BELOW 1.0980 TARGET 1.0960 1.0930 SL 1.1010
Date– 04–NOV
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