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– 07–DEC

INTERNATIONAL CURRENCY BUZZ

EUR/USD

GBP/USD The pound slipped lower against the U.S. dollar on Friday, after the European Central Bank's pol-

icy statement sent sterling higher on Thursday and as expectations for a U.S. rate hike this

month took over market sentiment.GBP/USD hit 1.5078 during European morning trade, the ses-

sion low; the pair subsequently consolidated at 1.5120, slipping 0.16%.Cable was likely to find

support at 1.4902, Thursday's low and nearly a seven-month low and resistance at 1.5197, the

high of November 23.The pound had strengthened after ECB President Mario Draghi said on

Thursday that the pace of the quantitative easing program is to remain unchanged at €60 billion,

disappointing expectations that the central bank would speed up its bond-buying scheme.But

the dollar regained ground after Federal Reserve Chair Janet Yellen strongly indicated to Con-

gress on Thursday that Fed policymakers are likely to vote to raise interest rates at its meeting in

two weeks, barring any major shocks to the global economy.

EUR/USD managed to pause losses and stabilized near 15-week lows over the last hours as inves-

tors focus shifts to Friday’s US employment report.EUR/USD came under renewed pressure on

Wednesday as the greenback strengthened on the back of supportive US data and comments

from Fed Chair Yellen, which fueled bets of a possible rate hike in December. EUR/USD hit a low

of 1.0843, last seen July 21, and has spent the last hours consolidating at the bottom of the

range. At time of writing, the pair is trading at 1.0855, recording a 0.96% loss on Wednes-

day.EUR/USD slid 0.75% to 1.0860, after rising to one-month highs of 1.0982 on Thurs-

day.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted bas-

ket of six major currencies, was down 1.50% at 98.55, off Wednesday's eight-month peak of

100.54.

Forex - Euro hugs huge gains, US payrolls next hurdle for dollar Forex - Dollar regains ground, recovers from ECB drop Forex - Dollar set for biggest loss against euro in over 6-1/2 yrs after ECB

Iforex Market Insight

Date– 07–DEC

www.epicresearch.sg Iforex Market Insight Report By Epic Research Singapore

ECONOMIC CALENDAR

Time Cur. Event Forecast Previous

Monday, December 7, 2015

04:00 AUD AIG Construction Index (Nov) - 52.1

05:00 JPY Reuters Tankan Index (Dec) - 3

05:20 JPY Foreign Reserves (USD) (Nov) - 1,244.2B

06:00 AUD ANZ Internet Job Ads (MoM) (Nov) - 0.3%

06:00 AUD ANZ Newspaper Job Ads (MoM) (Nov) - 3.0%

14:30 SGD Foreign Reserves USD (MoM) (Nov) - 249.8B

15:00 EUR Sentix Investor Confidence (Dec) 17.0 15.1

15:30 MYR FX Reserves USD (2wk) - 93.9B

19:30 EUR Eurogroup Meetings - -

20:30 USD CB Employment Trends Index (Nov) - 129.50

Iforex Market Insight

www.epicresearch.sg Iforex Market Insight Report By Epic Research Singa-

EUR/USD HOURLY CHART

BUY GBP/USD ABOVE 1.5150 TARGET 1.5170 1.5220 SL 1.5110

SELL GBP/USD BELOW 1.5080 TARGET 1.5060 1.5020 SL 1.5120

GBP/USD HOURLY CHART

BUY EUR/USD ABOVE 1.0910 TARGET 1.0940 1.0980 SL 1.0870

SELL EUR/USD BELOW 1.0840 TARGET 1.0810 1.0760 SL 1.0890

Date– 07–DEC

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