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Daily market news by Cozfx

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Re: Daily market news by Cozfx

Postby dwang » Tue Apr 25, 2017 3:22 am

COZfx: UK’s retail sales deteriorated in March

COZforex: For the past trading session, the GBP declined 0.09% against the USD and closed at 1.2795 on Friday, after disappointing retail sales data in Britain suggested that consumers are reigning in their spending amid a spike in inflation.

Data indicated that UK’s retail sales declined more-than-expected by 1.8% on a monthly basis in March, compared to a revised advance of 1.7% in the prior month, whereas market participants anticipated for a fall of 0.5%.

In the Asian session, the pair is trading at 1.2790, with the GBP trading slightly lower against the USD from Friday’s close.
Overnight data showed that the nation’s Right move house prices rose 1.1% on a monthly basis in April, after registering an advance of 1.3% in the prior month.

In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: GBP/USD is expected to find support at 1.2754 and a fall through could take it to the next support level of 1.2718; Meanwhile, the pair is expected to find its first resistance at 1.283, and a rise through could take it to the next resistance level of 1.287.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.


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

Postby dwang » Mon May 01, 2017 9:36 am

COZfx: BOJ keeps monetary policy unchanged, upgrades economic outlook

COZforex: For the past trading session, the USD rose 0.22% against the JPY and closed at 111.20.

On the macro front, Japan’s small business confidence index dropped more-than-anticipated to a level of 48.6 in April, compared to market expectations of a fall to a level of 49.4. The index had registered a level of 50.5 in the previous month.

Earlier today, the Bank of Japan, in its latest monetary policy meeting, opted to leave the benchmark interest rate steady at -0.1% and kept the yield target for 10-year Japanese government bonds around 0%.

In its quarterly economic outlook report, the central bank offered a more upbeat outlook on the economy, raising Japan’s GDP forecast for the 2017-18 fiscal year to 1.6%, from the 1.5% projected in January, amid optimism that a pick-up in overseas demand will help sustain an export-driven economic recovery. However, the BOJ lowered its inflation forecast to 1.4% from 1.5% for the same period.

In technical analysis, COZFX strategist Nigel Boynton said: USD/JPY is expected to find support at 110.82 and a fall through could take it to the next support level of 110.37; Meanwhile, the pair is expected to find its first resistance at 111.74, and a rise through could take it to the next resistance level of 112.21.

Moving ahead, Japan’s jobless rate, consumer price inflation, retail trade, large retailers’ sales and flash industrial production data, all for March, set to release overnight, will pique investor attention.


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

Postby dwang » Thu May 04, 2017 4:45 am

COZfx: Swiss SVME–PMI fell more-than-expected in April

COZforex: For the past trading session, the USD declined 0.42% against the CHF and closed at 0.9913.

On the data front, Switzerland’s SVME–purchasing managers’ index declined more-than-anticipated to a level of 57.4 in April, compared to a level of 58.6 in the previous month, whereas markets anticipated for a fall to a level of 58.2.
In the Asian session, the pair is trading at 0.9911, with the USD trading slightly lower against the CHF from yesterday’s close.

In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: USD/CHF is expected to find support at 0.9891 and a fall through could take it to the next support level of 0.987; Meanwhile, the pair is expected to find its first resistance at 0.9947, and a rise through could take it to the next resistance level of 0.9982.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.


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

Postby dwang » Tue May 30, 2017 2:56 am

COZfx: Aussie Dollar trading lower this morning

COZforex: For the past trading session, the AUD declined 0.63% against the USD and closed at 0.7453.

In commodities, LME Copper prices marginally raised or $2.5/MT to $5665.0/MT; Meanwhile, Aluminium prices rose 0.51% or $10.0/MT to $1954.0/MT.

In the Asian session, the pair is trading at 0.7432, with the AUD trading 0.28% lower against the USD from yesterday’s close.

In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: AUD/USD is expected to find support at 0.7398 and a fall through could take it to the next support level of 0.7364; Meanwhile, the pair is expected to find its first resistance at 0.7491, and a rise through could take it to the next resistance level of 0.7550.

Moving ahead, Australia’s AiG performance of manufacturing index, building approvals and HIA new home sales data, all scheduled to release in the coming week, will garner a lot of market attention.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.


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

Re: Daily market news by Cozfx

Postby dwang » Tue Jun 06, 2017 2:14 am

COZfx: UK’s construction sector activity unexpectedly rose to a 17-month high level

COZforex: For the past trading session, the GBP marginally declined against the USD and closed at 1.2881 on Friday.

On Friday, data showed that the UK construction PMI unexpectedly climbed to a level of 56.0 in May, expanding at its fastest rate in 17 months, as low interest rate and strong labour markets underpinned residential building activity. Market had expected the index to fall to 52.6, after it registered a level of 53.1 in the previous month.

In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: GBP/USD is expected to find support at 1.2839 and a fall through could take it to the next support level of 1.2813; Meanwhile, the pair is expected to find its first resistance at 1.2897, and a rise through could take it to the next resistance level of 1.2929.

Ahead in the day, Britain’s services sector activity data for May would be closely assessed by market participants for further direction in the local currency.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.


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

Re: Daily market news by Cozfx

Postby dwang » Fri Jun 09, 2017 5:02 am

COZfx: Japan’s economy expanded at a slower pace than initially estimated in 1Q 2017

COZforex: For the past trading session, the USD rose 0.31% against the JPY and closed at 109.76.

In the Asian session, the pair is trading at 109.84, with the USD trading 0.07% higher against the JPY from yesterday’s close.

The Japanese Yen lost ground, after data showed Japan’s economy expanded at a slower pace than initially estimated in the first three months of 2017.

Overnight data indicated that Japan’s final gross domestic product rose by 0.3% in 1Q 2017, less than market expectations for a rise of 0.6%. The preliminary figures had indicated a rise of 0.5%. In the previous quarter, GDP had registered a similar rise. Also, the nation’s trade surplus narrowed less-than-expected to a level of ¥553.6 billion in April, compared to market expectations of a trade surplus of ¥494.0 billion. In the prior month, the nation had reported a surplus of ¥865.5 billion in the prior month.

Meanwhile, the OPEC estimated Japan’s economy to expand 1.4% in 2017, up from a 1.2% increase projected in March, and 1.0% in 2018, up from 0.8%.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/JPY is expected to find support at 109.3 and a fall through could take it to the next support level of 108.77; Meanwhile, the pair is expected to find its first resistance at 110.19, and a rise through could take it to the next resistance level of 110.55.


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

Re: Daily market news by Cozfx

Postby dwang » Fri Jun 16, 2017 4:45 am

COZfx: NZD weaker after Q1 GDP weaker than seen, Australia jobs eyed

COZforex: The kiwi fell in Asia on Thursday after weaker than expected first quarter GDP and after the Federal Reserve lay out its forecasts for rates and trimming its balance sheet and investors looked ahead to regional data on Australian jobs.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted down 0.06% to 96.91.

In New Zealand, first quarter GDP rose 0.5% on quarter, missing the 0.7% gain seen and at 2.5% on year, below the 2.7% expected. Later, Australia reports jobs data with the employment change for May seen adding 10,000 new workers under a participation rate of 64.8% for a steady unemployment rate of 5.7%.

NZD/USD traded at 0.7248, down 0.29% after of the data and AUD/USD traded at 0.7592, up 0.05%. USD/JPY changed hands at 109.29, down 0.27%.

The Fed raised interest rates as expected to 1.25% on Wednesday, the second quarter percentage point hike in three months and said it would begin cutting its holdings of bonds and other securities this year as previously announced and maintained a view for three rate hikes this year.


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

Re: Daily market news by Cozfx

Postby dwang » Tue Jun 20, 2017 4:09 am

COZfx: Euro-zone’s annual inflation confirmed at 1.4% in May

COZforex: For the past trading session, the EUR rose 0.45% against the USD and closed at 1.1200 on Friday.

Macroeconomic data showed that the Euro-zone’s final consumer price index advanced 1.4% on an annual basis in May, confirming the flash estimate and following a gain of 1.9% in the previous month.

The greenback lost ground against a basket of major currencies on Friday, following downbeat US economic data that raised fresh doubts over the state of the nation’s economy.

The US flash Reuters/Michigan consumer sentiment index dropped more-than-expected to a level of 94.5 in June, suggesting that consumers are losing confidence over the country’s growth prospects amid ongoing political unrest in Washington. In the preceding month, the index had registered a reading of 97.1, while market participants expected for drop to a level of 97.0. Moreover, the nation’s housing starts dipped to an eight-month low level on a monthly basis in May, after it unexpectedly fell 5.5%, to an annual rate of 1092.0K, compared to a revised reading of 1156.0K in the previous month. Markets were expecting housing starts to rise to a level of 1220.0K. Further, the nation’s building permits surprisingly eased 4.9%, to an annual rate of 1168.0K in May, while investors had envisaged it to climb to a level of 1249.0K and following a revised reading of 1228.0K in the previous month.

Over the weekend, the French President, Emmanuel Macron, won a decisive majority in French parliamentary elections.
In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1154 and a fall through could take it to the next support level of 1.1113; Meanwhile, the pair is expected to find its first resistance at 1.1222, and a rise through could take it to the next resistance level of 1.1249.

Going ahead, investors will look forward to the Euro-zone’s construction output data for April, slated to release in a few hours. Moreover, in the US, a speech by William Dudley, due later in the day, will be on investors’ radar.


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

Re: Daily market news by Cozfx

Postby dwang » Wed Jun 28, 2017 3:57 am

COZfx: Canadian dollar higher boosted by oil prices

COZforex: The Canadian dollar strengthened against its US counterpart on Tuesday as oil prices rose and traders awaited comments later in the day by US Federal Reserve Chair Janet Yellen.

USD/CAD was down 0.31% at 1.3201 by 09.30 ET and was trading in a range of $1.3198 and $1.3261.

Prices of oil, one of Canada's major exports, rose for a fourth straight session on Tuesday, pulling further away from last week’s seven-month lows despite concerns that rising US output is threatening to derail efforts by other major producers to reduce a global supply glut.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.69% at 96.43, pressured lower by the stronger euro.

Investors were looking ahead to comments from Fed Chair Yellen later Tuesday for fresh indications on the future path of interest rates.

Traders were waiting to see if Yellen would maintain a positive outlook on the US economy despite a recent batch of weak economic reports, which would support the Fed’s projection for one more rate hike this year and three rate hikes next year.

Recent weakness in economic data has raised questions over the Fed’s plans to tighten monetary policy, with investors now expecting that the pace of its tightening could be much slower than policymakers want.


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

Re: Daily market news by Cozfx

Postby dwang » Mon Jul 03, 2017 4:13 am

COZfx: USD/CAD eases off 9-month lows after US, Canadian data

COZforex: The US dollar eased off a nine-month low against its Canadian counterpart on Friday, after the release of upbeat US personal income data, although higher oil prices and positive economic growth data from Canada still lent some support to the local currency.

USD/CAD eased off 1.2948, the pair’s lowest since September 2016, to hit 1.2985 during early U.S. trade, still down 0.15%.
The pair was likely to find support at 1.2818 and resistance at 1.3043, Thursday’s high.

The US Commerce Department that personal spending rose 0.1% in May, in line with expectations and after an increase of 0.4% the previous month.

Meanwhile, personal income rose by 0.4% in May, compared to expectations for a 0.3% gain.

In Canada, official data showed that gross domestic product rose 0.2% in May, in line with expectations, after a growth rate of 0.5% the previous month.

A separate report showed that Canada’s raw materials price index dropped 1.8% last month, disappointing expectations for a 1.0% fall.

The commodity-related Canadian dollar was supported by rising oil prices on Friday, supported by a decline US crude production.


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

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