VarengoldbankFX Daily FX Report_20140110

8/11/2019 VarengoldbankFX Daily FX Report_20140110

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www.varengoldbankfx.comPromotional Document

Wednesday, October 01, 2014

Good morning from rainy Hamburg and welcome to our Daily FX Report. U.S. health officialssaid yesterday that the first patient infected with the deadly Ebola virus had been diagnosed in

the USA. The patient had flown from Liberia to Texas and is a new sign of how the outbreak can

spread globally. A handful of people, mostly family members, may have been exposed to the

patient after he fell ill. There shouldnt be any threat to any passengers who had traveled with

him.

However, we wish you a much luck in trading today!

Market Review Fundamental Perspective

Yesterday the Dow Jones index of shares declined 0.2 percent and the Standard & Poors index

fell 0.3 percent. The EUR had its worst quarter since 2010 amid the Erupean Central Banks

moves to swell its balance sheet and cut borrowing costs to spur growth. The EUR dropped to

the lowest level in two years versus the USD as slowing inflation boosted the case for the ECB

to add further monetary stimulus to avert deflation. Data yesterday showed that consumer price

index in the euro area fell to 0.7 percent. Furthermore reports yesterday showed too that retail

sales in Germany rose 2.5 percent in August and unemployment rate remained low at 6.7

percent. In europes second biggest economy data showed that Frances national debt hit a

record high in the second quarter underlining the countrys struggle to rein in public finances

before today the 2015 budget will be presented. In addition another report yesterday showed

that U.S. consumer confidence declined in the past month for the first time in five months and

home prices in July climbed less than forecasted from a year earlier, underscoring the unsteady

nature of U.S. growth. Consumer confidence depreciated to 86.0 from a upwardly revised 93.4 in

August and the Institute for Supply Management-Chicago business barometer fell to 60.5 in

September from 64.3 in August. The EUR/USD decreased 0.4 percent to 1.2631 and tumbled

already 3.8 percent in September. The EUR/JPY weakened 0.3 percent to 138.49. The

USD/JPY advanced 0.1 percent to 109.63. The JPY sank versus most major counterparts and

lost 7.6 percent versus the USD in the third quarter 2014. The Bank of Japan is going to meet

next week and the ECB will meet tomorrow but further rate cuts are not expected.
http://www.varengoldbankfx.com/http://www.varengoldbankfx.com/


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Daily Technical Analysis

AUD/USD (4 Hours)

For almost four weeks now the currency pair is decreasing inside a bearish trend channel and

reached an eight month low around the support line 0.8681. And a trend reversal is not

foreseeable yet while the CCI is on high level and indicates further losses.

Support & Resistance (4 Hour)

Support Levels around Resistance Levels around

0.86816 0.89249

N/A 0.91145

N/A 0.92192


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EUR/GBP (4 Hours)

On 10 September the bears took control of the pair and pulled it down along a downward

Fibonacci fan towards the support line around 0.7764. Currently the pair is struggling with this

level and is trying to enter the upper channel of the fan, supported by the rising Stochastic

indicator.

Support & Resistance (4 Hours)


0.77648 0.78227

N/A 0.78779

N/A 0.80103


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USD/CAD (4 Hours)

As we can observe the USD increased versus the CAD inside an equidistant channel for the

past nine days and reached a six month high. A resistance level is not existing yet, and bases on

the MACD and the Moving average a continuation of the current trend is more than likely as long

as the pair remains inside the channel.

Support & Resistance (4 Hours)


1.11318 N/A

1.10512 N/A

1.09858 N/A


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Daily Calendar & Key Events

Date Time (GMT) Economic Indicator Last Survey

01/10/2014 07:50 FR Markit France Manufacturing PMI 48.8 48.8

01/10/2014 07:55 GE Markit/BME Germany Manufacturing PMI 50.3 50.3

01/10/2014 08:00 EC Markit Eurozone Manufacturing PMI 50.5 50.5

01/10/2014 08:30 UK Markit UK PMI Manufacturing SA 52.5 52.7

01/10/2014 11:00 US MBA Mortgage Applications -4.1%

01/10/2014 12:15 US ADP Employment Change 204K 205K

01/10/2014 13:30 CA RBC Canadian Manufacturing PMI 54.8

01/10/2014 13:45 US Markit US Manufacturing PMI 57.9 57.9

01/10/2014 14:00 US ISM Manufacturing 59.0 58.5

01/10/2014 14:00 US ISM Prices Paid 58.0 57.0

01/10/2014 14:00 US Construction Spending MoM 1.8% 0.5%

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

German: +49 40 66 86 4996

English: +49 40 66 86 4996

Arabic: +97 14 40 19 57 - 5

24 h Trading Support: +49 40 66 86 4932

Turkish: +49. 40. 66 86 490


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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 serious

and 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 an

indication 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

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VarengoldbankFX Daily FX Report_20140110