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Daily market news by Cozfx

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Re: Daily market news by Cozfx

Postby dwang » Thu Sep 08, 2016 3:12 am

COZfx: JPY rebounds in Asia as GDP gains lift sentiment

COZforex: The yen rebounded in Asia on Thursday as GDP growth for the second quarter surprised on the upside and investors looked ahead to trade figures from China.

Japan said second quarter GDP showed a surprise 0.2% gain, from a flat level expected quarter-on-quarter and rose at a 0.7% pace year-on-year, well above the 0.2% gain seen.

Earlier, Japan reported the adjusted current account with a surplus of ¥1.45 trillion, below the ¥1.59 trillion surplus seen and an un-adjusted current account surplus of ¥1.938 trillion, also below an expected ¥2.09 trillion surplus. Also in Japan, bank lending for August rise 2.0% year-on-year as expected.

USD/JPY changed hands at 101.62, down 013% after the current account and GDP data, while AUD/USD traded at 0.7677, up 0.05%, after trade data.

Overnight, the dollar remained moderately higher against the other major currencies on Wednesday, but gains were still limited as the previous session’s downbeat U.S. data lowered expectations for a rate hike by the Federal Reserve this year.

Sentiment on the greenback remained vulnerable after the Institute of Supply Management said on Tuesday that its non-manufacturing purchasing manager’s index fell to 51.4 last month from 55.5 in July. Analysts had expected the index to drop to 55.0.

The data came after downbeat US employment data published last Friday crushed expectations for an upcoming rate hike by the Fed.


(COZ forex UK)
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Re: Daily market news by Cozfx

Postby dwang » Mon Sep 19, 2016 5:10 am

COZfx: Aussie gains further in Asia as China house prices data noted

COZforex: The Aussie gained further on Monday in Asia as house prices in China added to a recent spate of upbeat economic data on the top export market for Australia with financial markets in Japan shut for a holiday and investors looking ahead to central bank meetings in Tokyo and Washington this week.

AUD/USD traded at 0.7520, up 0.41%, while USD/JPY changed hands at 102.22, down 0.06%.

In China, house prices data for August rose 9.2%, outpacing the increase of 7.9% seen in the previous month year-on-year.

Overnight, the US dollar surged to a more than two-week high against a basket of major currencies on Friday, as investors digested key US inflation data, while looking ahead to a next week's policy meetings from the Federal Reserve and the Bank of Japan.

The Labor Department said the consumer price index rose 0.2% in August, compared to expectations for a 0.1% gain. Year-over-year, consumer prices increased 1.1%.

Excluding the volatile food and energy categories, so-called core consumer prices climbed 0.3%. The core CPI increased 2.3% in the 12 months through August.

The faster-than-expected growth in US consumer prices helped support the case for a Fed rate hike later this year.

Looking ahead, market participants would closely monitor the Reserve Bank of Australia’s September meeting minutes along with the nation’s house price index and Westpac leading index data, all scheduled to release next week.


(COZ forex UK)
dwang
 
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Re: Daily market news by Cozfx

Postby dwang » Thu Sep 22, 2016 5:02 am

COZfx: NZD up as RBNZ holds OCR at 2%

COZforex: The kiwi posted early gains on Thursday in Asia after the New Zealand central bank held pat and the yen was a tad weaker with overnight moves by the Fed and Bank of Japan the subjects of speculation.

NZD/USD traded at 0.7343, up 0.03% after the RBNZ decision, while USD/JPY changed hands at 100.35, up 0.04% and AUD/USD traded at 0.7632, up 0.08%.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted down 0.53% to 95.46.

Overnight, the dollar slipped lower against the other major currencies on Wednesday, as investors parsed the Federal Reserve’s policy decision to hold steady and mulled whether the Bank of Japan's new policy measures represent starker easing.

The BOJ adopted "yield curve control" under which it will buy long-term government bonds to keep 10-year bond yields at current levels around 0%.


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Re: Daily market news by Cozfx

Postby dwang » Mon Sep 26, 2016 3:29 am

COZfx: USD/CAD climbs after downbeat Canadian data

COZforex: The US dollar climbed against its Canadian counterpart on Friday, as downbeat Canadian data on inflation and retail sales dampened demand for the local currency, although the Federal Reserve’s latest policy decision still weighed on the greenback.

USD/CAD hit 1.3156 during early US trade, the pair’s highest since Wednesday; the pair subsequently consolidated at 1.3139, advancing 0.74%.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/CAD was likely to find support at 1.2996, Thursday’s low and resistance at 1.3238, Wednesday’s high.

Statistics Canada reported that the consumer price index slipped 0.2% in August, confounding expectations for a 0.1% rise. Year-on-year, CPI increased by 1.1% last month, lower that expectations for a 1.4% gain.

Core CPI, which excludes the eight most volatile items, was flat in August, disappointing expectations for a 0.2% rise.
A separate report showed that Canada’s retail sales fell 0.1% in July, compared to expectations for an increase of 0.1%.

Core retail sales, which exclude automobiles, ticked down 0.1% in July, confounding expectations for a 0.5% rise.

The greenback began to recover from broad losses posted after the Fed decided on Wednesday to leave interest rates unchanged and projected a less aggressive rise in interest rates next year and in 2018.


(COZ forex UK)
dwang
 
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Re: Daily market news by Cozfx

Postby dwang » Thu Sep 29, 2016 7:09 am

COZfx: Euro trading lower before Germany’s GfK consumer confidence data

COZforex: For the past trading session, the EUR declined 0.31% against the USD and closed at 1.1215.

In economic news, data indicated that Germany’s import price index fell by 0.2% on a monthly basis in August, more than market expectations for a fall of 0.1% and following a gain of 0.1% in the prior month.

Macroeconomic data released in the US indicated that the US consumer confidence unexpectedly jumped to a 9 years high level of 104.1 in September, bolstering optimism over the health of the world’s largest economy. Markets expected the index to drop to a level of 99.0, compared to a revised level of 101.8 in the previous month. Additionally, the nation’s flash Markit services PMI advanced to a level of 51.9 in September, expanding at the fastest pace since April 2016, from a level of 51.0 in the prior month and beating investor consensus for a rise to a level of 51.2. Meanwhile, the nation’s Richmond Fed manufacturing index improved less-than-expected to a level of -8.0, following a level of -11.0 in the previous month.

In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1174 and a fall through could take it to the next support level of 1.1145; Meanwhile, the pair is expected to find its first resistance at 1.1245, and a rise through could take it to the next resistance level of 1.1287.

Looking ahead, market participants would closely monitor Germany’s GfK consumer confidence survey data for October, scheduled to release in some time. Moreover, investors would also keenly watch the Fed Chair, Janet Yellen’s speech before House Panel along with the nation’s flash durable goods orders for August and MBA mortgage applications data, due later in the day.


(COZ forex UK)
dwang
 
Posts: 328
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Re: Daily market news by Cozfx

Postby dwang » Mon Oct 10, 2016 7:18 am

COZfx: GBP slump exacerbates Brexit impact for German exporters: DIHK

COZforex: Britons' vote to leave the European Union is already affecting German exports to Britain and a drop in sterling, which hit a 31-year low on Friday, is making things worse, Germany's DIHK Chambers of Industry and Commerce has said.

"Brexit is already weighing on the German economy," DIHK managing director Martin Wansleben told German daily Welt after the chambers of commerce surveyed 5,600 German firms.

"Faced with the decline of the British pound, German products in the (United) Kingdom will be much more expensive, and our export growth to the UK will also fall below zero this year," Wansleben added.

The DIHK survey also showed German businesses were losing their appetite to invest in Britain. Wansleben said that until there was clarity on how Brexit would unfold, Britain would be "unattractive as a place for foreign businesses to invest."
In July, the DIHK said it saw a 1 percent drop in exports to the United Kingdom in 2016, down from a previous forecast of a 5 percent rise.


(COZ forex UK)
dwang
 
Posts: 328
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Re: Daily market news by Cozfx

Postby dwang » Thu Oct 13, 2016 3:19 am

COZfx: Japan’s Eco Watchers’ current situation index dropped surprisingly in September

COZforex: For the last trading session, the USD declined 0.17% against the JPY and closed at 103.46.

In economic news, Japan’s Eco Watchers survey for current situation index unexpectedly dropped to a level of 44.8 in September, highlighting that investors are getting more pessimistic over the health of the nation’s economy. Markets had envisaged the index to rise to a level of 45.8, compared to a reading of 45.6 in the prior month. On the other hand, the nation’s Eco Watchers survey for future outlook index advanced more-than-anticipated to a level of 48.5 in September, compared to a level of 47.4 in the previous month.

Earlier today, data showed that, Japan’s machinery orders declined less-than-expected by 2.2% on a monthly basis in August, dropping for the first time in three months amid sluggish growth. Machinery orders recorded a gain of 4.9% in the prior month while markets expected for a fall of 4.6%.

In technical analysis, COZFX strategist Nigel Boynton said: USD/JPY is expected to find support at 103.04 and a fall through could take it to the next support level of 102.62; Meanwhile, the pair is expected to find its first resistance at 103.97, and a rise through could take it to the next resistance level of 104.48.

Investors would await the release of Japan’s flash machine tool orders data for September, scheduled to release in some time.


(COZ forex UK)
dwang
 
Posts: 328
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Re: Daily market news by Cozfx

Postby dwang » Mon Oct 17, 2016 4:17 am

COZfx: Yen weaker after Kuroda comments on economy's progress

COZforex: The yen weakened on Monday in Asia after remarks from the central bank governor updating on economic growth and inflation.

Bank of Japan Governor Haruhiko Kuroda said the economy is on a likely moderate expanding trend with core consumer prices slightly negative to flat, adding that the central bank will take further action to boost growth if needed.

USD/JPY changed hands at 104.23, up 0.07%, while AUD/USD traded at 0.7597, down 0.26%. GBP/USD traded down 0.16% to 1.2168.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.06% to 98.14.

On Friday, US Federal Reserve Chair Janet Yellen will give a speech.

Last week, the dollar gained ground on Friday as solid data on US retail sales and producer prices bolstered expectations that the Federal Reserve could raise interest rates in the coming months.

US retail sales rose 0.6% in September after declining 0.2% the previous month, data from the Commerce Department showed Friday.

Another report showing that US producer prices picked up broadly last month added to the view that the economy is on a strong enough footing for a rate hike by the Fed before the year’s end.

The Fed’s next meeting is in November, but a rate hike ahead of the presidential election is seen as unlikely.

Expectations for higher rates typically boost the dollar by making it more attractive to yield seeking investors.


(COZ forex UK)
dwang
 
Posts: 328
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Re: Daily market news by Cozfx

Postby dwang » Thu Oct 20, 2016 3:41 am

COZfx: USD/CAD pushes lower after BoC holds

COZforex: The US dollar pushed lower against its Canadian counterpart on Wednesday, after the Bank of Canada left interest rates unchanged and expressed optimism regarding the country’s perspectives for growth.

USD/CAD hit 1.3060 during US morning trade, the session low; the pair subsequently consolidated at 1.3046, declining 0.48%. In technical analysis, COZFX strategist Nigel Boynton said: The pair was likely to find support at 1.2996, the low of September 22 and resistance at 1.3141, Tuesday’s high.

The BoC left its overnight cash rate unchanged at 0.50%, in line with market expectations, as well as keeping the bank rate a 0.75% and the deposit rate at 0.25%.

The BoC also said the global economy was expected to regain momentum in the second half of this year and through 2017 and 2018.

For Canada, the Bank projected growth of 1.1% in 2016 with an increase to “about 2%” in both 2017 and 2018.

The commodity-related Canadian dollar was also lifted by a sharp rise in oil prices on Wednesday, after the Organization of the Petroleum Exporting Countries said in a statement that a planned production cut was achievable.

Meanwhile, sentiment on the US dollar remained fragile after a mixed batch of US housing sector data released earlier in the session.

The US Commerce Department said housing starts slumped 9.0% to 1.047 million units last month from August’s total of 1.150 million units, revised from the initial 1.142 million.

Meanwhile, building permits rose 6.3% to 1.225 million units last month from 1.152 million in August. Economists had forecast a 0.9% gain to 1.165 million units in September.


(COZ forex UK)
dwang
 
Posts: 328
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Re: Daily market news by Cozfx

Postby dwang » Mon Oct 24, 2016 4:44 am

COZfx: Swiss trade surplus highest since at least 1987 in September

COZforex: For the past trading session, the USD rose 0.37% against the CHF and closed at 0.9923.

On the economic front, Switzerland’s trade surplus rose to a level of CHF 4.37 billion in September, recording its highest since at least 1987, indicating that the nation has weathered a currency market shock that sent the Swiss franc soaring. The nation posted a revised trade surplus of CHF 3.01 billion in the previous month. Additionally, the nation’s exports rose by 4.3% in September, after recording a revised drop of 1.9% in the previous month. Meanwhile, the nation’s imports eased by 3.3% on a monthly basis in September, following a revised decline of 3.9% in the prior month.

In the Asian session, the pair is trading at 0.9948, with the USD trading 0.25% higher against the CHF from yesterday’s close.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/CHF is expected to find support at 0.9875 and a fall through could take it to the next support level of 0.9803; Meanwhile, the pair is expected to find its first resistance at 0.9986, and a rise through could take it to the next resistance level of 1.0025.

Moving ahead, market participants will keep a close watch on Switzerland’s UBS consumption indicator for September and KOF leading indicator for October, both scheduled to be released next week.


(COZ forex UK)
dwang
 
Posts: 328
Joined: Wed Mar 13, 2013 6:24 am

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