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– 11–DEC

INTERNATIONAL CURRENCY BUZZ

EUR/USD

GBP/USD

The pound was almost unchanged at three-week highs against the U.S. dollar on Thursday, even

after data showed that he U.K. trade deficit widened much more than expected in October, as

investors awaited the Bank of England's policy decision later in the day.GBP/USD hit 1.5196 dur-

ing European morning trade, the pair's highest since November 20; the pair subsequently con-

solidated at 1.5178.Cable was likely to find support at 1.5075, the low of December 4 and resis-

tance at 1.5248, the high of November 18.The U.K. Office for National Statistics reported that

the country's trade deficit widened to £11.83 billion in October from £8.8 billion the previous

month. Economists had expected the trade deficit to widen to £9.7 billion in October.The U.S.

dollar rallied to 11-/12 year highs against other major currencies earlier in the week after Fri-

day's strong U.S. employment data added to expectations that the Fed will hike interest rates for

the first time since 2006.

The dollar pushed higher against the euro and the yen on Thursday after losses in the previous

sessions as investors turned their attention to next week's Federal Reserve meeting amid expecta-

tions for an imminent rate hike.EUR/USD was down 0.39% to 1.0908, off Wednesday’s five week

highs of 1.1042.The euro had continued to strengthen in the wake of last Thursday’s rally after the

latest round of easing announced by the European Central Bank fell well short of market expecta-

tions.On Wednesday, ECB Governing Council member Ewald Nowotny said market expectations

for additional stimulus measures had been too high and that investors should have paid more at-

tention to economic fundamentals.The U.S. dollar index, which measures the greenback’s strength

against a trade-weighted basket of six major currencies, rose 0.38% to 97.71.

Forex -NZD/USD higher despite RBNZ rate cut Forex -Swiss franc steady after SNB keeps rates on hold at 0.75% Forex -AUD/USD rallies on strong Australian jobs data

Iforex Market Insight

Date– 11–DEC

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

ECONOMIC CALENDAR

Time Cur. Event Forecast Previous

Friday, December 11, 2015

00:00 GBP BoE Gov Carney Speaks - -

00:30 USD Federal Budget Balance (Nov) -68.0B -136.0B

03:00 NZD Business NZ PMI (Nov) - 53.3

19:00 USD Core PPI (MoM) (Nov) 0.1% -0.3%

19:00 USD Core Retail Sales (MoM) (Nov) 0.3% 0.2%

19:00 USD PPI (MoM) (Nov) -0.1% -0.4%

19:00 USD Retail Sales (MoM) (Nov) 0.3% 0.1%

20:30 USD Business Inventories (MoM) (Oct) 0.1% 0.3%

20:30 USD Michigan Consumer Expectations (Dec) 81.0 82.9

20:30 USD Michigan Consumer Sentiment (Dec) 92.0 91.3

23:30 USD Baker Hughes U.S. Rig Count - 545

Iforex Market Insight

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

EUR/USD HOURLY CHART

BUY GBP/USD ABOVE 1.5190 TARGET 1.5170 1.5140 SL 1.5160

SELL GBP/USD BELOW 1.5160 TARGET 1.5140 1.5110 SL 1.5190

GBP/USD HOURLY CHART

BUY EUR/USD ABOVE 1.0990 TARGET 1.1010 1.1040 SL 1.0960

SELL EUR/USD BELOW 1.0930 TARGET 1.0910 1.0880 SL 1.0960

Date– 11–DEC

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