VarengoldbankFX Daily FX Report_20141007.pdf

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www.varengoldbankfx.comPromotional Document

Tuesday, October 07, 2014

Good morning from beautiful Hamburg and welcome to our latest Daily FX Report. PresidentBarack Obama said on Monday that the government would develop expanded screening of

airline passengers for Ebola, both in the West African countries hit by the disease and the United

States. The first patient diagnosed with the disease on U.S. soil, Thomas Eric Duncan, remained

in critical condition in a Dallas hospital, as Obama was briefed by agencies involved in fighting

the spread of the deadly virus. The president said it was important to follow existing protocols

strictly.

Anyway, we wish you a successful trading day!

Market Review Fundamental Perspective

The USD fell the most in more than a year versus 10 major peers on Monday as investors

speculate over the timing of the Federal Reserve`s first rate increase since 2006. The dollar

depreciated to $1.2653 versus the euro and tumbled 1.1 percent. Before the bank of Japan is

going to set policy today, the yen held its biggest gain versus the dollar in six months as

economists pare back expectations for more stimulus. The yen gained 0.9 percent versus the

USD, which is the biggest gain since April 8. The Japane`s currency was traded at 108.91 yen

per dollar, pulling away from an overnight low of 108.65 but still well shy of a six-year peak of

110.09 yen marked last week. The yen was also traded at 137.75 per euro. The euro inched

down 0.1 percent on the day to $1.2645 but held well above a more than two-year low of

$1.2501 set on Friday, after the U.S. non-farm payrolls report fuelled speculation that the Federal

Reserve will hike interest rates by mid-2015.

The AUD appreciated the most in seven months ahead of an interest-rate decision by the

Reserve Bank. The Australian dollar added about 0.1 percent to $0.8766 per AUD, pulling away

from Friday's low of $0.8642 which was its lowest level since July 2010. Investors will be

watching to see if the Reserve Bank ofAustralia tries to talk its currency even lower at its regular

policy review on Tuesday, at which it is widely expected to hold its cash rate steady at 2.5

percent. The RBA will announce its decision at 11:30 p.m. EDT.

Gold also steadied at $1,205.90 an ounce. In a volatile session on Monday, it marked its biggest

one-day gain in two months, after first bumping to a 15-month low.
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Daily Technical Analysis

GBP/USD (Daily)

After reaching the resistance level at 1.7189 in the end of June, the GBP lost in value against

the USD and fell to the support level of 1.5961, where it rebounded. At the moment the GBP is

experiencing a slightly recovery. The DeMarker and the MACD both indicate that this phase of

recovery could hold for a while. However, it may be likely that the support level will not be strong

enough to prevent the GBP from further losses.

Support & Resistance (Daily)

Support Levels around Resistance Levels around

1.5961 1.6813

N/A 1.7189

N/A N/A
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USD/CHF (Daily)

The graph below shows the appreciation of the USD against the CHF along the first Fibonacci

Fan line. The strongest level was reached in the end of September, where the resistance line at

0.9679 was strong enough to prevent the CHF from additional losses. However, both indicators

show that we may not see a a significant recovery of the CHF in the near future.

Support & Resistance (Daily)


0.8910 0.9679

0.8864 N/A

N/A N/A


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USD/CAD (4 Hours)

After reaching the support level at 1.0841 the pair experienced a upward movement till it

reached the resistance line at 1.1097 where it rebounded. According to the Fibonacci time

zones, the next significant trend reversal can be expected soon. Till then it may be likely that the

CAD will show a slightly revocery from its previous losses.

Support & Resistance (4 Hours)


101.80 109.88

101.13 N/A

N/A N/A


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Daily Calendar & Key Events

Date Time (GMT) Economic Indicator Last Survey

07/10/2014 06:00 GE Industrial Production SA MoM 1.9% -1.5%

07/10/2014 06:00 GE Industrial Production WDA YoY 2.5% -0.5%

07/10/2014 08:30 UK Industrial Production MoM 0.5% 0.0%

07/10/2014 08:30 UK Industrial Production YoY 1.7% 2.6%

07/10/2014 08:30 UK Manufacturing Production MoM 0.3% 0.1%

07/10/2014 08:30 UK Manufacturing Production YoY 2.2% 3.4%

07/10/2014 12:30 CA Building Permits MoM 11.8% -6.5%

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

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Turkish: +49. 40. 66 86 490


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DISCLAIMERIMPORTANT NOTIFICATION TO BE READ IN CONJUNCTION WITH THE CONTENTS OF THISPROMOTIONAL DOCUMENTThis 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 promotionaldocument 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 is

for 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 opinions

included. 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.

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VarengoldbankFX Daily FX Report_20141007.pdf