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Daily market news by Cozfx

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Re: Daily market news by Cozfx

Postby dwang » Thu Jul 06, 2017 3:25 am

COZfx: UK’s construction sector activity cooled in June

Cozforex: For the past trading session, the GBP declined 0.12% against the USD and closed at 1.2928, on the back of downbeat construction sector data in the UK.

Data indicated that Britain’s Markit construction PMI dropped to a level of 54.8 in June, more than market expectations for a fall to a level of 55.0, further muddying the growth picture of economy. The PMI had recorded a level of 56.0 in the prior month.

In the Asian session, the pair is trading at 1.2938, with the GBP trading 0.08% higher against the USD from yesterday’s close.

Overnight data revealed that the nation’s BRC shop price index fell 0.3% in June, following a drop of 0.4% in the previous month.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: GBP/USD is expected to find support at 1.2914 and a fall through could take it to the next support level of 1.2891; Meanwhile, the pair is expected to find its first resistance at 1.2960, and a rise through could take it to the next resistance level of 1.2983.

Going ahead, market participants will focus on UK’s Markit services PMI for June, slated to release in a few hours.

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


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

Postby dwang » Tue Jul 11, 2017 5:09 am

COZfx: Japan posted a trade deficit in May

COZforex: For the past trading session, the USD rose 0.7% against the JPY and closed at 113.92 on Friday.

On the data front, Japan’s preliminary leading economic index climbed more-than-expected to a level of 104.7 in May, compared to a level of 104.2 in the prior month. Moreover, the nation’s flash coincident index eased to a level of 115.5 in May, at par with market expectations. In the prior month, the index had registered a reading of 117.1.

In the Asian session, the pair is trading at 114.12, with the USD trading 0.18% higher against the JPY from Friday’s close.

Overnight data indicated that Japan surprisingly posted a higher-than-expected trade deficit of ¥115.1 billion in May, compared to a surplus of ¥553.6 billion recorded in the preceding month, while investors had envisaged the nation to register a deficit of ¥45.0 billion. Also, the nation’s machinery orders surprisingly declined 3.6% in May, compared to a fall of 3.1% in the previous month and confounding market consensus for a gain of 1.7%.

In technical analysis, COZFX strategist Nigel Boynton said: USD/JPY is expected to find support at 113.68 and a fall through could take it to the next support level of 113.24; Meanwhile, the pair is expected to find its first resistance at 114.38, and a rise through could take it to the next resistance level of 114.64.

The currency pair is trading above 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 susannair » Tue Jul 11, 2017 5:37 am

EUR/USD Intraday: further upside.

Pivot: 1.1380

Our preference: long positions above 1.1380 with targets at 1.1420 & 1.1440 in extension.

Alternative scenario: below 1.1380 look for further downside with 1.1360 & 1.1340 as targets.

USD/JPY Intraday: bullish bias above 113.85.

Pivot: 113.85

Our preference: long positions above 113.85 with targets at 114.30 & 114.65 in extension.

Alternative scenario: below 113.85 look for further downside with 113.50 & 113.10 as targets.

GBP/USD Intraday: capped by a negative trend line.


Pivot: 1.2895

Our preference: short positions below 1.2895 with targets at 1.2855 & 1.2825 in extension.

Alternative scenario: above 1.2895 look for further upside with 1.2920 & 1.2945 as targets

AUD/USD Intraday: key resistance at 0.7615.


Pivot: 0.7615

Our preference: short positions below 0.7615 with targets at 0.7585 & 0.7570 in extension.

Alternative scenario: above 0.7615 look for further upside with 0.7635 & 0.7655 as targets.

NZD/USD Intraday: capped by a negative trend line.

Pivot: 0.7285

Our preference: short positions below 0.7285 with targets at 0.7255 & 0.7240 in extension.

Alternative scenario: above 0.7285 look for further upside with 0.7305 & 0.7320 as targets.

Gold spot Intraday: caution.


Pivot: 1215.50

Our preference: short positions below 1215.50 with targets at 1209.00 & 1205.00 in extension.

Alternative scenario: above 1215.50 look for further upside with 1219.00 & 1222.00 as targets.

Get daily targets, positions on whatsapp - https://docs.google.com/forms/d/e/1FAIpQLSe_htlLmPnfWObcsP1wdUSxak1-OG0c-VpR-fNh8z58S7T_dQ/viewform
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Re: Daily market news by Cozfx

Postby dwang » Fri Jul 14, 2017 2:49 am

COZfx: Euro-zone’s industrial output surged to a 6-month high in May

COZforex: For the past trading session, the EUR declined 0.48% against the USD and closed at 1.1415.

Macroeconomic data indicated that the Euro-zone’s seasonally adjusted industrial production rose by 1.3% on a monthly basis in May, posting its largest increase in six months, thus confirming that the region’s economy remains on course for stronger growth in the second quarter. In the prior month, industrial production had recorded a revised rise of 0.3%, while markets anticipated for a gain of 1.0%.

Yesterday, the Federal Reserve Chairwoman, Janet Yellen, in a testimony before the House Financial Services Committee, expressed optimism over the US economy and emphasised the central bank’s gradual approach on monetary policy trajectory over next few years, noting that interest rates may not have to rise much further to meet the Fed’s goals. Moreover, she added that the central bank would proceed with the unwind of its balance sheet this year, on the back of a healthy labour market.

Separately, the Fed’s Beige Book report revealed that the US economy saw “slight to moderate” growth from late May through June. Further, it reported that companies are finding it difficult to fill open positions due to a shortage of qualified candidates and that labour markets tightened further, but price pressures were largely held in check.

In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1390 and a fall through could take it to the next support level of 1.1342; Meanwhile, the pair is expected to find its first resistance at 1.1487, and a rise through could take it to the next resistance level of 1.1536.

Moving ahead, investors will focus on Germany’s final consumer price inflation data June, slated to release in a few hours. Moreover, a testimony by the Fed Chair, Janet Yellen and the US weekly jobless claims data, 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 Jul 19, 2017 2:43 am

COZfx: Canadian dollar hits fresh 14-month highs

COZforex: The Canadian dollar rose to fresh 14-month highs against its broadly weaker US counterpart on Tuesday as concerns over a policy deadlock in Washington and doubts over the Federal Reserve’s rate hike plans pressured the greenback lower.

The greenback weakened across the board after a second attempt by Republicans to replace Obamacare collapsed late Monday, delivering a major policy blow to the Trump administration.

Around half of the cuts in health-care spending were earmarked to finance proposed tax cuts. The failure to deliver healthcare reform added to disappointment over the lack of progress on Trump’s economic agenda.

The dollar was already on the defensive after Friday’s weak US inflation and retail sales data added to doubts that the Fed will be able to raise interest rates again this year.

Demand for the loonie continued to be underpinned after the Bank of Canada raised interest rates for the first time in almost seven years last Wednesday and indicated that it will need to hike again in the coming months.

The loonie found additional support as prices for oil, a major Canadian export jumped higher on Tuesday.

Oil was boosted by reports that Libya will attend a meeting of OPEC and non-OPEC producers in Russia later this month, sparking speculation that the country may join a global pact to reduce output in a bid to rebalance oversupplied markets.


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

Re: Daily market news by Cozfx

Postby dwang » Mon Jul 24, 2017 4:18 am

COZfx: Swiss trade surplus narrowed in June

COZforex: For the past trading session, the USD declined 0.35% against the CHF and closed at 0.9515.

Macroeconomic data showed that Switzerland’s trade surplus narrowed to a level of CHF2.81 billion in June, following a revised trade surplus of CHF3.39 billion in the previous month.

In the Asian session, the pair is trading at 0.9515, with the USD trading flat against the CHF from yesterday’s close.

In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: USD/CHF is expected to find support at 0.9465 and a fall through could take it to the next support level of 0.9416; Meanwhile, the pair is expected to find its first resistance at 0.9593, and a rise through could take it to the next resistance level of 0.9672.

Going forward, Switzerland’s UBS consumption indicator and KOF leading indicator data, both set to be released next week, will be on investors’ radar.

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 Aug 01, 2017 7:14 am

COZfx: Australia’s new home sales dipped to a 4-year low level in June

COZforex: For the past trading session, the AUD rose 0.19% against the USD and closed at 0.7987 on Friday.

In commodities, LME Copper prices declined 0.7% or $42.0/MT to $6283.0/MT; Meanwhile, Aluminium prices declined 1.6% or $31.0/MT to $1892.0/MT.

Early morning data indicated that Australia’s HIA new home sales fell 6.9% in June, hitting its lowest level since 2013. New home sales had recorded a rise of 1.1% in the previous month. On the contrary, the nation’s private sector credit climbed more-than-expected by 0.6% on a monthly basis in June, compared to an advance of 0.4% in the previous month.

Elsewhere, in China, Australia’s largest trading partner, the NBS manufacturing PMI fell to a level of 51.4 in July, undershooting market consensus for a fall to a level of 51.5. In the prior month, the PMI had recorded a reading of 51.7. Moreover, the nation’s NBS non-manufacturing PMI dropped to a level of 54.5 in July, compared to a level of 54.9 in the previous month.

In technical analysis, COZFX strategist Nigel Boynton said: AUD/USD is expected to find support at 0.7941 and a fall through could take it to the next support level of 0.7904; Meanwhile, the pair is expected to find its first resistance at 0.8011, and a rise through could take it to the next resistance level of 0.8044.

Looking ahead, traders will focus on the Reserve Bank of Australia’s interest rate decision slated to release tomorrow. Moreover, Australia’s AiG performance of manufacturing index for July, slated to release overnight, will also pique investor attention.


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

Re: Daily market news by Cozfx

Postby dwang » Fri Aug 04, 2017 3:45 am

COZfx: UK’s construction sector growth hit 11-month low in July

COZforex: For the past trading session, the GBP rose 0.09% against the USD and closed at 1.3221, despite data showing a sharp decline in UK’s construction activity.

On the macro front, Britain’s Markit construction PMI fell more-than-anticipated to a level of 51.9 in July, expanding at its weakest pace in eleven months, as heightened political uncertainty along with concerns over Brexit led to a slowdown in new orders. In the prior month, the PMI had recorded a level of 54.8, while market participants had envisaged for a fall to a level of 54.0.

In technical analysis, COZFX strategist Nigel Boynton said: GBP/USD is expected to find support at 1.3190 and a fall through could take it to the next support level of 1.3164; Meanwhile, the pair is expected to find its first resistance at 1.3246, and a rise through could take it to the next resistance level of 1.3276.

Looking forward, investors will pay attention to the Bank of England’s interest rate decision, scheduled later in the day. The central bank is widely expected to stand pat on monetary policy. Also, Britain’s Markit services PMI for July, set to be released in a few hours, 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 Aug 09, 2017 3:07 pm

COZfx: Japan posted a less-than-expected trade surplus in June

COZforex: For the past trading session, the USD marginally rose against the JPY and closed at 110.75.

In economic news, Japan’s flash leading economic index advanced to a level of 106.3 in June, surpassing market expectations of a rise to a level of 106.2. In the prior month, the index had registered a level of 104.6. Further, the nation’s flash coincident index recorded a rise to a level of 117.2 in June, meeting market consensus and after recording a level of 115.8 in the prior month.

Overnight data indicated that Japan registered a trade surplus of ¥518.5 billion in June, following a deficit of ¥115.1 billion in the prior month, while markets were expecting the nation to post a surplus of ¥571.5 billion.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/JPY is expected to find support at 110.47 and a fall through could take it to the next support level of 110.35; Meanwhile, the pair is expected to find its first resistance at 110.82, and a rise through could take it to the next resistance level of 111.05.

The currency pair is trading above its 20 Hr moving average and showing convergence with 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 » Mon Aug 14, 2017 10:10 am

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

COZforex: For the past trading session, the EUR slightly rose against the USD and closed at 1.1765.

In economic news, French industrial production dropped more-than-expected by 1.1% on a monthly basis in June, dropping by the most in four months and compared to market expectations for a fall of 0.6%. Industrial production had climbed 1.9% in the previous month.

Macroeconomic data indicated that the number of Americans filing for jobless claims for the first time unexpectedly rose to a level of 244.0K in the week ended 05 August 2017, confounding market consensus for a fall to a level of 240.0K. In the previous week, initial jobless claims had recorded a revised level of 241.0K. Additionally, the nation’s producer price index (PPI) surprisingly fell 0.1% on a monthly basis in July, hitting its lowest in nearly a year. The PPI had advanced 0.1% in the previous month, while markets were anticipating for a rise of 0.1%.

In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1720 and a fall through could take it to the next support level of 1.1671; Meanwhile, the pair is expected to find its first resistance at 1.1801, and a rise through could take it to the next resistance level of 1.1833.

Going ahead, traders will closely monitor Germany’s final consumer price inflation for July, slated to release in a few hours. Also, the US inflation report for July, slated to release later in the day, will pique significant amount of investor attention.


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

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