CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

EUR CHF close to the cap

Article By: ,  Financial Analyst
November 13, 2014 3:06 PM

So far today, it’s been a relatively calm FX session with tight ranges. GBP had the biggest move today, following on from the dovish BoE comments in the inflation report.

The main points to be taken from the report were the revised downward growth for 2015 and that inflation could drop below 1%.

In more positive news, according the BoE, wage growth has risen above inflation and is set to continue to do so. GBP/USD is currently down 30 points – trading just below 1.5750.

The main afternoon data was the US jobless claims rise to 290k from 278k, which is, interestingly, still close to 14-year low. But it’s had little effect in the market so far as we sit in a consolidation mode until some more important data hits.

Later tonight we will hear from the Fed Chair Janet Yellen, which is usually a popular market mover, but there’s not much that’s expected to really move the USD.

The euro is still currently trading around the 1.2460 level and can’t find a direction from here. Maybe the answer will come tomorrow when the GDP’s from France and Germany will be announced.

Yesterday, the market started to pay close attention to the EUR/CHF and other CHF crosses as the EUR/CHF cap (1.2000) is getting close to possible SNB intervention as it’s currently trading at 1.2020. So, one to watch if gets close to these levels.

 

EUR/USD

Supports  1.2450 1.2400 1.2370  | Resistance 1.2480 1.2530 1.2560

 

USD/JPY

Supports 115.40 115.00 114.45 | Resistance 116.00 116.45 117.00

 



GBP/USD

Supports 1.5700 1.5640 1.5525 | Resistance 1.5820 1.5890 1.6000

 

 

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024