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– 18–DEC

INTERNATIONAL CURRENCY BUZZ

EUR/USD

GBP/USD The pound trimmed losses against the U.S. dollar on Thursday, after the release of strong

U.K. retail sales data, although the Federal Reserve's decision to raise interest rates on

Wednesday continued to support the greenback.GBP/USD eased off 1.4920, the pair's

lowest since December 3, to hit 1.4966 during European morning trade, still down 0.23%.

Cable was likely to find support at 1.4902, the low of December 3 and resistance at

1.5102, Wednesday's high.The U.K. Office for National Statistics reported that retail

sales increased by 1.7% last month, blowing past forecasts for a gain of 0.5%. Retail sales

in October fell by 0.5%, whose figure was revised from a previously reported decline of

0.6%.Year-on-year, retail sales rose at a rate of 5.0% in November, easily surpassing expec-

tations for a 3.0% gain, after rising at a rate of 4.2% a month earlier.

The EUR/USD pair fell down to 1.0831 at the beginning of the day, with the greenback ex-

tending the rally triggered by the FED late Thursday, when the US Central Bank finally an-

nounce a 25bp rate rise, writing a new chapter in the history of monetary policy. The U.S.

dollar index, which measures the greenback’s strength against a trade-weighted basket of

six major currencies, was up 0.50% at 98.90, the highest level since December 3.The

Greenback remains in demand after the Fed Dot Chart released yesterday hinted at 4 rate

hikes in 2016. This surprised markets as the Fed was widely expected to indicate a slow

path of tightening. Consequently, the EUR/USD failed to extend the minor recovery seen in

early Europe and fell below 1.0852 levels.

Forex -AUD/USD drops after U.S. rate hike Forex -Kiwi lower against broadly stronger greenback Forex -Dollar near 2-week highs after Fed hikes U.S. interest rates

Iforex Market Insight

Date– 18–DEC

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

ECONOMIC CALENDAR

Time Cur. Event Forecast Previous

Friday, December 18, 2015

05:30 NZD ANZ Business Confidence (Dec) - 14.6

05:30 NZD NBNZ Own Activity (Dec) - 32.0%

Tentative JPY Interest Rate Decision 0.10% 0.10%

12:00 JPY BoJ Press Conference - -

14:30 EUR Current Account (Oct) 29.9B 29.4B

14:30 EUR Current Account n.s.a. (Oct) - 33.1B

14:30 EUR Net Investment Flow (Oct) - -10.5B

20:15 USD Services PMI (Dec) 56.0 56.1

21:00 USD ECRI Weekly Annualized (WoW) - -0.8%

21:00 USD ECRI Weekly Index - 131.3

21:30 USD KC Fed Composite Index (Dec) - 1

21:30 USD KC Fed Manufacturing Index (Dec) - 3

23:30 USD Baker Hughes U.S. Rig Count - 524

Iforex Market Insight

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

EUR/USD HOURLY CHART

BUY GBP/USD ABOVE 1.4970 TARGET 1.4990 1.5020 SL 1.4940

SELL GBP/USD BELOW 1.4920 TARGET 1.4900 1.4870 SL 1.4950

GBP/USD HOURLY CHART

BUY EUR/USD ABOVE 1.0870 TARGET 1.0890 1.0920 SL 1.0940

SELL EUR/USD BELOW 1.0840 TARGET 1.0820 1.0790 SL 1.0870

Date– 18–DEC

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