varengoldbankfx daily fx report_20141014.pdf

8/10/2019 VarengoldbankFX Daily FX Report_20141014.pdf

1/6

www.varengoldbankfx.com Promotional Document

Tuesday, October 14, 2014

Good morning from Hamburg and welcome to our latest Daily FX Report. Fighting in Iraq'swestern Anbar province has forced up to 180,000 people to flee since the city of Hit fell to

Islamic State earlier this month, the United Nations said on Monday.Islamic State fighters

extended that advance by overrunning a military base that the Iraqi army had abandoned 8 km

(5 miles) west of Hit earlier on Monday, according to an army officer and members of a

government-backed Sunni militia. Saudi Arabia is quietly telling the oil market it would be

comfortable with much lower oil prices for an extended period, a sharp shift in policy that may be

aimed at slowing the expansion of rival producers including those in the U.S. shale patch.

Anyway, we wish you a successful trading day!

Market Review Fundamental Perspective

The dollar fell to the lowest level in more than a month versus the yen after Federal Reserve

officials said a worldwide economic slowdown may delay interest rate increases, damping

demand for the U.S. currency. The main world currency added 0.1 percent to 106.95 yen from

yestersay, after weakening to 106.76, a level that has not been reached since September 11. It

was little changed at $1.2746 per euro. Japans currency traded at 136.33 per euro from 136.24.

The Bloomberg Dollar Spot Index dropped 0.2 percent to 1062.59. The index slid 0.8 percent

last week after ending October 3 at 1078.65, the most since June 2010. Australias currency

climbed from almost a four-year low as its biggest trading partner China reported better-than-

forecast export growth and an unexpected pick-up in imports. The Australian dollar rose versus

all expect one of its 31 major peers. The currency gained 1 percent to 0.8772 after sliding to

0.8643 on October 3, the lowest since July 2010. European Central Bank President Mario

Draghis words to do whatever it takes with a bond buying plan to save the euro -area goes on

trial before the European Unions top judges today. The ECB announced the details of its bond-

purchase plan in September 2012 as bets multiplied that the euro area would break apart and

after Draghis promise to do whatever was needed to save the currency. The calming of financial

markets that the still-untapped program produced helped the euro area emerge from its longest-

ever recession in the first half of last year. Two years after its announcement, the ECB is gearing

up to buy asset-backed securities and covered bonds to funnel credit to companies and

households and fuel inflation of just below 2 percent.
http://www.varengoldbankfx.com/http://www.varengoldbankfx.com/


2/6


Daily Technical AnalysisEUR/USD (4 Hours)

One of the most important currency pairs worldwide is held under control by the bears inside a

downward trend channel since the mid of August. It could break through it and gain some 270

pips but wasnt ab le to break through the resistance at 1.2772. Furthermore there is currently an

inverse head and shoulder pattern indicating that the price is likely to move down.

Support & Resistance (4 Hours)

Support Levels around Resistance Levels around

1.2598 1.2772

1.2505 1.2972

N/A N/A


3/6


GBP/JPY (4 Hours)

This month the JPY was able to recover versus its major peers including the GBP. After touching

180.37 the the upward trend stopped and now the price is around 172. Further losses arepossible. The OsMA and the RSI are showing that the pair is oversold. Looking short term a

sideward movement is likely.



169.47 175.12

N/A 178.48

N/A N/A


4/6


USD/JPY (4 Hours)

The most days in August the USD was stronger than JPY and the pair was moving in an upward

trend channel, although it could break through it. Nevertheless it returned inside the channel last

week. The MACD is showing that the pair is highly oversold and a movement towards the Center

line is possible. The Momentum is moving sidewards.



103.53 109.27

101.67 N/A

N/A N/A


5/6


Daily Calendar & Key Events Date Time (GMT) Economic Indicator Last Survey

14/10/2014 08:00 IT CPIEU Harmonized (Sep) (YoY) -0.2% -0.2%

14/10/2014 08:30 UK CPI (Sep) (MoM) 0.4% 0.2%

14/10/2014 08:30 UK CPI Core (Sep) (YoY) 1.9% 1.8%

14/10/2014 08:30 UK Retail Prce Index (MoM) (Sep) 0.4% 0.3%

14/10/2014 08:30 UK PPI Output NSA (MoM) (Sep) -0.1% -0.1%

14/10/2014 09:00 GE ZEW Survey (Oct) 25.4 15.0

14/10/2014 09:00 GE ZEW Survey Expectations (Oct) 6.9 0.0

14/10/2014 11:30 US NFIB Small Business Optimism (Sep) 96.1 95.8

If you have any questions, please contact us for further assistance. 24 hours a day:

German: +49 40 66 86 49 96

English: +49 40 66 86 49 96

Arabic: +97 14 40 19 57 - 5

24 h Trading Support: +49 40 66 86 49 32

Turkish: +49. 40. 66 86 49 0


6/6


DISCLAIMERIMPORTANT NOTIFICATION TO BE READ IN CONJUNCTION WITH THE CONTENTS OF THISPROMOTIONAL DOCUMENT

This document Daily FX Report is a promotional document and is created and published by VarengoldBank AG. This Promotional document serves exclusively for information purposes. It is exclusively aimedat German business partners and customers who make their own investment decisions at their own risknotwithstanding the contents of this promotional document. Investment decisions should be made on thebasis of a preceding consultation with an independent financial advisor and prospectus, but not on thebasis of this promotional document.Depending on the individual investor's investment goals, investment horizon or financial situation, thecontents of the present promotional document may not be suitable at all or only in part. This promotional

document is not aimed at persons with residence and / or place of business and / or branches abroad,particularly in the United States of America, Canada, Japan or Great Britain. This promotional document isfor information only and especially does not constitute a public offer, an advice, recommendation or aninvitation to submit an offer for purchase or selling of or subscription to securities or other financialinstruments. This Promotional document does not constitute investment advice or investmentrecommendation.This promotional document does not constitute a financial analysis. Therefore it does not fulfil the legalrequirements ensuring the impartiality of financial analyses. This promotional document is not subject tothe prohibition of trades before the publication of financial analyses. With this promotional document noindividual investment advisory and / or information relationship with Varengold Bank AG is established.

All declarations, statements or assessments included in this promotional document are those of thisdocument's author; they do not imperatively correspond to third party statements. Varengold Bank AG hastaken the entire information on which the promotional document is based from sources considered seriousand reliable, but without verifying the entire information. This is why Varengold Bank AG does not givepromises or guarantees regarding precision, completeness or accuracy of the information or opinionsincluded. Varengold Bank AG does not assume any liability for losses and direct or consequential damagecaused by the use and / or distribution of this promotional document and / or associated with the use and/or distribution of this promotional document. The contents of the promotional document correspond to thestate of information as of the date of its preparation. It may be outdated on account of future developmentswithout this promotional document having been modified. Any complete or partial reproduction or anyother usage and /or distribution of this promotional document and / or its content is forbidden and subjectto publisher's prior written consent.

Warning notice:Trading the foreign exchange market carry a high level of risk and may result in substantial loss in part orall of an investment and is therefore not suitable for every investor. Any past performance is not anindication or guarantee of future performance.

Publisher:

Varengold Bank AGGrosse Elbstrasse 2722767 Hamburg, GermanyT+49.40.66 86 49 0F+49.40.66 86 49 49

varengoldbankfx daily fx report_20141014.pdf

Documents