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Daily market news by Cozfx

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Re: Daily market news by Cozfx

Postby dwang » Thu Oct 27, 2016 5:05 am

COZfx: NZD mostly flat after trade data wider than seen

COZforex: The Kiwi traded nearly flat on Thursday in Asia after trade data that came in wider than expected ahead of an otherwise light regional data day.

NZD/USD traded at 0.7151, down 0.01%, after the data. AUD/USD traded at 0.7644, down 0.09%, ahead of prices data and USD/JPY changed hands at 104.55, up 0.08%. GBP/USD traded at 1.2236, down 0.07%.

In New Zealand, the September trade balance came in at a deficit of NZ$1.436 billion month-on-month, and at a year-on-year gap of NZ$3.4 billion, both wider than expected.

Ahead, Australia reports the export price and import price figures for the third quarter.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted at 98.59.

Overnight, the dollar was broadly lower on Thursday after hitting near nine-month highs in the previous session on the back of expectations for a US rate hike, while sterling regained ground as expectations for a rate cut next week diminished.

The index has rallied so far this month as hawkish remarks by Fed officials in recent weeks cemented expectations for a rate hike before the year’s end. Expectations for higher interest rates typically boost the dollar by making the currency more attractive to yield-seeking investors.

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


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

Postby dwang » Mon Oct 31, 2016 4:53 am

COZfx: Euro trading higher, ahead of Germany’s inflation data

COZforex: For the past trading session, the EUR declined 0.14% against the USD and closed at 1.0893.

In economic news, Italy’s consumer confidence index unexpectedly dropped to a fifteen-month low level of 108.0 in October, declining for a third consecutive month and confounding market expectations for it to remain steady at a revised level of 108.6, recorded in the prior month.

Macroeconomic data released in the US indicated that, preliminary durable goods orders unexpectedly eased by 0.1% on a monthly basis in September, amid lower demand for military hardware and computers. Meanwhile, markets expected durable goods orders to rise by 0.1%, after recording a revised gain of 0.3% in the prior month. Additionally, the nation’s initial jobless claims fell less-than-expected to a level of 258.0K in the week ended 22 October, dropping for the first time in three weeks, compared to a revised level of 261.0K in the previous week while markets expected initial jobless claims to ease to a level of 256.0K.

In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.0874 and a fall through could take it to the next support level of 1.0847; Meanwhile, the pair is expected to find its first resistance at 1.0935, and a rise through could take it to the next resistance level of 1.0969.

Looking ahead, market participants would await the release of Germany’s preliminary consumer price index for October, slated to release in a few hours.


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

Postby dwang » Wed Nov 02, 2016 4:31 am

COZfx: RBA maintains interest rates steady at 1.5%

COZforex: For the past trading session, the AUD rose 0.11% against the USD and closed at 0.7611.

In technical analysis, LME Copper prices rose 0.85% or $40.5/MT to $4827.5/MT; Aluminium prices rose 1.26% or $21.5/MT to $1723.0/MT.

In the Asian session, at GMT0400, the pair is trading at 0.7648, with the AUD trading 0.49% higher against the USD from yesterday’s close, after the Reserve Bank of Australia, in a widely expected move, left the benchmark interest rates unchanged at 1.5% at its November monetary policy meeting.

In a post meeting statement, the RBA Governor, Philip Lowe, stated that having eased monetary policy at its May and August meetings, the board found it prudent to hold the key interest rate steady at this meeting as it would be best for achieving the central bank’s output growth target and to boost inflation in the nation. Further, he expressed confidence in the nation’s economy and added that it will continue to grow at its “potential rate” before gradually strengthening, with inflation expected to quicken over the next two years.

In other economic news, Australia’s AiG performance of manufacturing index rose to a level of 50.9 in October, crawling out of the contraction territory, following a level of 49.8 in the prior month.

In technical analysis, COZFX strategist Nigel Boynton said: AUD/USD is expected to find support at 0.7606 and a fall through could take it to the next support level of 0.7564; Meanwhile, the pair is expected to find its first resistance at 0.7671, and a rise through could take it to the next resistance level of 0.7694.


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

Postby dwang » Mon Nov 07, 2016 4:34 am

COZfx: Australia’s trade deficit narrowed to a nearly two-year low level in September

COZforex: For the past trading session, the AUD rose slightly against the USD and closed at 0.7655.

Macroeconomic data indicated that, Australia’s AIG performance of services index advanced to a level of 50.5 in October, entering into expansion territory, following a reading of 48.9 in the prior month.

In commodities, LME Copper prices rose 0.17% or $8.5/MT to $4871.0/MT; Meanwhile, Aluminium prices declined 1.33% or $23.0/MT to $1709.0/MT.

Overnight data revealed that, Australia’s trade deficit narrowed more-than-expected to a level of A$1227.00 million in September, dropping for a third consecutive month and reaching its lowest level in twenty months. The nation recorded a revised trade deficit of A$1894.00 million in the previous month whereas markets anticipated the nation to post a trade deficit of A$1700.00 million.

Elsewhere in China, Australia’s largest trading partner, the Caixin/Markit services PMI index advanced to a level of 52.4 in October, expanding at the fastest pace in four-months, compared to a level of 52.0 in the prior month.

In technical analysis, COZFX strategist Nigel Boynton said: AUD/USD is expected to find support at 0.7618 and a fall through could take it to the next support level of 0.7577; Meanwhile, the pair is expected to find its first resistance at 0.7692, and a rise through could take it to the next resistance level of 0.7725.

Moving ahead, investors would closely monitor RBA’s latest meeting minutes along with Australia’s retail sales for September, due to release overnight.


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

Postby dwang » Tue Nov 08, 2016 4:14 am

COZfx: BOJ policymakers admit that more time needed to hit price target

COZforex: For the past trading session, the USD rose 0.07% against the JPY and closed at 102.98 on Friday.

In the Asian session, the pair is trading at 104.28, with the USD trading 1.26% higher from Friday’s close.

According to minutes of the Bank of Japan’s, most policymakers believed it could take time for inflation expectations to firm. Further, the board members noted that the nation’s economic rebound was continuing at an acceptable pace. At this meeting, the BOJ switched its policy target to interest rate targeting from quantitative easing, after years of asset purchases failed to jolt the economy out of stagnation.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/JPY is expected to find support at 103.26 and a fall through could take it to the next support level of 102.23; Meanwhile, the pair is expected to find its first resistance at 104.88, and a rise through could take it to the next resistance level of 105.47.

Moving ahead, investors would keep a close watch on Japan’s flash leading and coincident indices, both for September, due to release tomorrow.


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

Postby dwang » Thu Nov 10, 2016 4:12 am

COZfx: Canadian housing starts and building permits declined

COZforex: For the past trading session, the USD declined 0.62% against the CAD and closed at 1.3286.

Macroeconomic data indicated that, Canada’s seasonally adjusted housing starts dropped to a level of 192.9K in October, highlighting that the nation’s property boom is cooling. Markets expected for a drop to a level of 195.0K and following a revised level of 219.4K in the previous month. Further, the nation’s building permits dropped more-than-expected by 7.0% in September, following a revised gain of 11.0% in the previous month.

In the Asian session, the pair is trading at 1.3486, with the USD trading 1.51% higher against the CAD from yesterday’s close.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/CAD is expected to find support at 1.3331 and a fall through could take it to the next support level of 1.3176; Meanwhile, the pair is expected to find its first resistance at 1.357, and a rise through could take it to the next resistance level of 1.3654.

With no economic releases in Canada today, investor sentiment would be governed by global macroeconomic factors.


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

Re: Daily market news by Cozfx

Postby dwang » Tue Nov 15, 2016 9:37 am

COZfx: Germany’s annual inflation at 2-year high in October

COZforex: For the past trading session, the EUR declined 0.38% against the USD and closed at 1.0845 on Friday.

In economic news, data showed that Germany’s final consumer price index accelerated to a two-year high level, after it rose by 0.8% in October, compared to a similar preliminary print and following an advance of 0.7% in the prior month.

The greenback gained ground against its key counterparts, after the US flash Reuters/Michigan consumer sentiment index rose to a level of 91.6 in November, notching its five-month high level, indicating that Americans became more upbeat about the nation’s economic outlook. Markets expected the index to rise to a level of 87.9 and after recording a reading of 87.2 in the previous month.

Meanwhile, the Federal Reserve Vice Chairman, Stanley Fischer, signalled his support for gradual interest rate hikes while stating that the case for gradual policy tightening is “quite strong” as the economy is gaining momentum.
However, he stopped short of indicating the timing of the next Fed move and cautioned that the “future is uncertain and that monetary policy is not on a preset course”. Further, he also indicated that the central bank is close to achieving its dual mandate of 2.0% longer-run inflation target and maximization of employment.

In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.0737 and a fall through could take it to the next support level of 1.0680; Meanwhile, the pair is expected to find its first resistance at 1.0885, and a rise through could take it to the next resistance level of 1.0976.

Moving ahead, market participants would look forward to a speech by the ECB President Mario Draghi, due later today. Moreover, investors would closely monitor the Euro-zone’s industrial production for September, scheduled to release in a few hours. Additionally, traders would focus on speeches by two top Fed officials, due later in the day.


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

Re: Daily market news by Cozfx

Postby dwang » Fri Nov 18, 2016 4:39 am

COZfx: Swiss ZEW expectations index surged to a 5-month high level in November

COZforex: For the past trading session, the USD rose 0.08% against the CHF and closed at 1.0022.

In economic news, data showed that Switzerland’s ZEW economic expectations index strengthened to a five-month high level of 8.9 in November, rising for a third straight month, on expectations that the economic development will remain unchanged within the next six months. The index recorded a level of 5.2 in the prior month.

In the Asian session, the pair is trading at 1.0020, with the USD trading marginally lower against the CHF from yesterday’s close.

In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: USD/CHF is expected to find support at 0.9981 and a fall through could take it to the next support level of 0.9942; Meanwhile, the pair is expected to find its first resistance at 1.0058, and a rise through could take it to the next resistance level of 1.0096.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.


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

Re: Daily market news by Cozfx

Postby dwang » Thu Nov 24, 2016 4:00 am

COZfx: Australia’s construction work done slid 4.9% in 3Q 2016

COZforex: For the past trading session, the AUD rose 0.49% against the USD and closed at 0.7401.

In commodities, LME Copper prices rose 1.49% or $82.5/MT to $5618.0/MT; Meanwhile, Aluminium prices rose 0.75% or $13.0/MT to $1739.0/MT.

In the Asian session, the pair is trading at 0.7416, with the AUD trading 0.2% higher against the USD from yesterday’s close.

Overnight data showed that, Australia’s seasonally adjusted construction work done slid 4.9% on a basis in 3Q 2016, more than market expectations for a drop of 1.6% and following a revised decline of 3.1% in the previous quarter.

Elsewhere, in China, Australia’s largest trading partner, the MNI business sentiment index rose to a level of 53.1 in November, compared to a level of 52.2 in the previous month.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: AUD/USD is expected to find support at 0.7376 and a drop through could take it to the next support level of 0.7336; Meanwhile, the pair is expected to find its first resistance at 0.7443, and a rise through could take it to the next resistance level of 0.7470.


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

Re: Daily market news by Cozfx

Postby dwang » Tue Nov 29, 2016 3:58 am

COZfx: JPY gains in Asia as retail, household data mixed, equities eyed

COZforex: The yen gained slightly in Asia on Tuesday after mixed data on retail sales and household spending with investors watching series of major finance houses including Morgan Stanley and JPMorgan Cazenove upping equity bets on expectations of a weaker yen as the Fed looks set to raise rates next month.

USD/JPY changed hands at 111.90, down 0.04%, while AUD/USD traded at 0.7493, up 0.16%.

In Japan, household spending for October fell 1.0% month-on-month, compared to a 0.1% gain seen, and at a minus 0.4% pace year-on-year, compared to a 0.6% fall expected for the eighth straight drop. Unemployment for October clocked in at 3.0% as seen, while retail sales rose 0.1%, compared to a 1.2% fall seen year-on-year.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted down 0.27% to 101.21.

Overnight, the dollar was little changed against the other majors currencies on Monday, as overall confidence in the US economy continued to lend some support to the greenback, while trading was expected to remain quiet with no major US data expected throughout the day.

The greenback has been broadly supported in recent weeks amid expectations that increased fiscal spending and tax cuts under the Trump administration will spur economic growth and inflation.


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

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