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Daily market news by Cozfx

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Re: Daily market news by Cozfx

Postby dwang » Tue Jul 28, 2015 7:25 am

COZfx: Aussie up in early trade with focus on China markets

COZforex: The Aussie gained in early Asia on Tuesday with no major data ahead in the region, but a focus on China after the steepest decline in Chinese stocks in eight years yesterday.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.03% at 96.66.

Overnight, the dollar extended losses against a basket of other major currencies on Monday, despite positive US data on durable goods orders, as sentiment on the greenback remained under pressure ahead of this week's policy statement by the Federal Reserve.

The US Commerce Department reported on Monday that total durable goods orders increased by 3.4% last month, beating expectations for a gain of 3.0%. Orders for durable goods in May were revised to a drop of 2.1% from a previously reported decline of 2.2%.

Core durable goods orders, excluding volatile transportation items, inched up by 0.8% in June, topping forecasts for an increase of 0.5%. Core durable goods orders dipped 0.1% in May, whose figure was revised from previously reported flat reading.

Investors were turning their attention to Wednesday’s Fed statement to see if policymakers will give any indication on the timing of a rate hike.

On Friday, the Fed mistakenly published a staff projection pointing to a quarter point rate hike later this year.

The dollar has been boosted in recent weeks by mounting expectations that the US central bank could raise rates as soon as September if the economy continues to improve as expected.


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Re: Daily market news by Cozfx

Postby dwang » Fri Jul 31, 2015 4:05 am

COZfx: USD/CAD higher after mixed US data

COZforex: The US dollar was higher against its Canadian counterpart on Thursday, after data showed that the US economy grew less than expected in the second quarter and that US jobless claims rise less than expected last week.

USD/CAD hit 1.3026 amid early US trade, the pair's highest since Tuesday; the pair subsequently consolidated at 1.3002, gaining 0.44%. In technical analysis, USD/CAD was likely to find support at 1.2862, the low of July 29 and resistance at 1.3043, the high of July 28.

The US Commerce Department reported that gross domestic product grew at an annual rate of 2.3% in the 3 months ending June 30, missing expectations for growth of 2.6%. The US economy grew 0.6% in the first quarter, compared to a previously reported contraction of 0.2%.

Separately, the US Department of Labor said the number of individuals filing for initial jobless benefits in the week ending July 25 rise by 12,000 to 267,000 from the previous week’s total of 255,000. Analysts had expected initial jobless claims to rise by 15,000 to 270,000 last week.

The data came after the Fed said in its rate statement on Wednesday that the economy and the labor market had continued to strengthen, reinforcing expectations for an initial rate hike at its September meeting.


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dwang
 
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Re: Daily market news by Cozfx

Postby dwang » Tue Aug 04, 2015 5:10 am

COZfx: Pound little changed after UK factory data

COZforex: The pound was slightly lower against the dollar on Monday after data showing that activity in the UK manufacturing sector ticked higher last month but remained relatively subdued.

Research group Markit said its UK manufacturing purchasing managers' index ticked up to 51.9 last month from 51.4 in June, which was the lowest level in over 2 years. Economists had expected a reading of 51.6.

GBP/USD eased 0.04% to 1.5620 following the report from around 1.5618 earlier.

The rate of growth in new orders slowed to a 10 month low Markit said, as solid demand from the domestic market contrasted with a further decrease in new export business.

New export orders declined for the fourth straight month in July, mainly as a result of the sterling-euro exchange rate hitting competitiveness in euro zone markets.

“Although an uptick in the headline PMI breaks the decelerating trend in UK manufacturing, growth remains near-stagnant and suggests that the sector is continuing to act as a drag on the economy," Rob Dobson, senior economist at survey compiler Markit said.

The pound was also slightly lower against the euro, with EUR/GBP at 0.7022, little changed from before the report.


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Re: Daily market news by Cozfx

Postby dwang » Fri Aug 07, 2015 4:10 am

COZfx: Euro trading marginally higher ahead of the German factory order data

COZforex: For the last trading session, the EUR rise 0.11% against the USD and closed at 1.0903, as the services sector across the Euro-zone continued to expand.

Data showed that the Euro-zone’s services PMI advanced more than expected to a reading of 54.0 in July, following a level of 53.8 in June. In addition, the German services PMI also edged up to 53.8 in July, from 53.7 recorded in the preceding month.

Gains in the common-currency were kept in check, after the retail sales in the Euro-zone retreated more than expected by 0.6% in June, following a revised gain of 0.1% in May.

In the US, the ISM non-manufacturing index rallied to a 10 year high level of 60.3 in July, from prior month’s reading of 56.0 and beating market expectations of 56.2 points. The nation’s services sector expansion was led by sharp increases in business activity, employment and new orders, thereby strengthening the case for an interest rate hike by the Fed at its next meeting in September.

On the other hand, the ADP private sector employment figure rise by 185.0 K in July, lower than market expectations of an advance of 210.0 K and compared to prior month’s revised increase of 229.0 K. Meanwhile, the US trade deficit widened more than expected to $43.80 billion in June, compared to previous month’s deficit of $40.9 billion.

In technical analysis, COZFX strategist Nigel Boynton said, EUR/USD is predicted to find support at 1.0858 and a fall through could take it to the next support line of 1.0809; Meanwhile, the pair is predicted to find its first resistance at 1.0946, and a rise through could take it to the next resistance line of 1.0984.

Trading trends in the Euro today are expected to be determined by Germany’s factory orders data, scheduled in a few hours.


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dwang
 
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Re: Daily market news by Cozfx

Postby dwang » Tue Aug 11, 2015 3:30 am

COZfx: Yen a tad stronger in early Asia with investors focused on Fed

COZforex: The yen gained early strength in Asia ahead of a light data day on Tuesday with investors mulling anew the prospect of a Federal Reserve rate hike as early as September.

USD/JPY changed hands at 124.56, down 0.06%, while AUD/USD traded at 0.7414, up 0.03%. EUR/USD held nearly steady at 1.1017, down 0.02%. Ahead is the NAB business confidence survey for July in Australia.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of 6 major currencies, eased 0.01% at 97.22.

Overnight, the dollar slipped lower against the other major currencies in quiet trade on Monday, but remained supported as Friday's upbeat US employment data fuelled further expectations for a US rate hike.

Trading volumes were expected to remain light with no major US data to be released throughout the day.

The Labor Department reported on Friday that the US economy added 215,000 jobs last month, slightly lower than forecasts for an increase of 223,000, but still consistent with strong employment growth. The unemployment rate remained unchanged at 5.3%, in line with expectations.

Hourly earnings, a component of the jobs report that the Federal Reserve has said must rise, ticked up 0.2%, also matching forecasts after stalling in the previous month.

In the past three months the greenback has been boosted by investor expectations that the Fed will raise short term interest rates in the coming months. But Fed governor Stanley Fischer on Monday said there was no certainty on timing and any decision is data dependent.


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

Postby dwang » Fri Aug 14, 2015 3:17 am

COZfx: Kiwi down as retail sales disappoint in Q2

COZforex: The New Zealand dollar dropped in early Asia on Friday on disappointing retail sales data with investors expecting calmer markets as the weekends and the impact of China's devaluation ripples.

Retail sales in New Zealand rise 0.1% in the second quarter, well below the 0.7% gain seen, though overall year-on-year gained 5.9%, above the 5.2% pace seen.

NZD/USD traded at 0.6556, down 0.21%, while AUD/USD changed hands at 0.7375, up 0.20% and USD/JPY was quoted at 124.37, down 0.06%.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.04% at 96.40.

Overnight, the dollar held gains against the other major currencies on Thursday, as upbeat US economic reports sparked optimism over the strength of the economy and fuelled further expectations for a September rate hike by the Federal Reserve.

The US Department of Labor said the number of individuals filing for initial jobless benefits in the week ending August 8 rise by 5,000 to 274,000 from the previous week’s total of 269,000. Analysts had expected initial jobless claims to rise by 1,000 to 270,000 last week.

Separately, the US Commerce Department said that retail sales increased by 0.6% last month, beating expectations for a gain of 0.5%. Retail sales declined by 0.3% in June.

The Melbourne Institute earlier reported that its inflation expectations for the next 12 months in Australia ticked up to 3.7% in July from 3.4% the previous month.


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

Postby dwang » Tue Aug 18, 2015 3:42 am

COZfx: Canadian dollar lower alongside crude oil

COZforex: The Canadian dollar was lower against the US dollar on Monday, tracking declines in oil prices which dropped to more than 6 year lows during ongoing concerns about the global supply glut and the demand outlook.

USD/CAD hit highs of 1.3153, not far from the 11-year peaks of 1.3212 set on August 5 and was last at 1.3119.

US oil futures declined to the lowest level in 6.5 years on Monday after data showing that Japan’s economy contracted in the second quarter fueled fears that slowing growth in Asian economies will weigh on the demand outlook for oil.

Oil prices were also hit after a report showing an uptick in the rig count last week supported expectations that US producers will ramp up activity in the coming months, adding to fears over a global supply glut.

Earlier this year the Bank of Canada cut interest rates in response to a rout in oil prices, citing the impact on the inflation outlook.

The loonie found some support after Statistics Canada reported that foreign investment in Canadian securities rebounded in June.

Non-residents bought C$8.51 billion in Canadian assets, more than offsetting May's decline. Overall investment in the Canadian money market reached a record C$12.04 billion the report said.


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

Postby dwang » Fri Aug 21, 2015 3:44 am

COZfx: Euro extends its gains in the Asian session

COZforex: For the last trading session, the EUR rise 0.85% against the USD and closed at 1.1121, after the current account surplus for Italy and Euro zone widened in June.

The greenback weakened after the consumer prices rise less than expected by 0.10% in the US in July, compared to a rise of 0.20% in the previous month. The dollar was pushed further downwards after Fed’s minutes for the July monetary policy meeting highlighted that economic conditions were approaching a point of rate hike but did not warrant for immediate hikes.

Additionally, the Fed noted that more data is needed to prove that economic growth is sufficient enough to take inflation nearer to its target before the central bank is ready to increase rates.

In technical analysis, COZforex senior currency strategist Ian • Quigley said, EUR/USD is predicted to find support at 1.1051, and a fall through could take it to the next support line of 1.0969. Meanwhile, the pair is predicted to find its first resistance at 1.1182, and a rise through could take it to the next resistance line of 1.1231.

Investors would keenly wait for the release of the crucial US initial jobless claims data for the week ended 14 August, due later in the day.


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

Postby dwang » Tue Aug 25, 2015 4:03 am

COZfx: Aussie holds weaker in early Asia with China markets in focus

COZforex: The Australian dollar held weaker on early Asia on Tuesday after a rough and tumble start to the week as investors focus on market turmoil in China.

In an otherwise thin data day regionally, plays for safe-haven assets will likely dominate.

AUD/USD traded at 0.7147, down 0.13%, while USD/JPY changed hands at 118.42, up 0.01%. EUR/USD was quoted at 1.1594, down 0.22%.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of 6 major currencies, was down 0.11% at 93.28.

Overnight, the dollar tumbled over 1% against the other major currencies on Monday, to hit an 8 month low amid a broad based selloff in global equity and commodity markets as mounting fears over a slowdown in China fuelled widespread risk aversion.

Wall Street opened sharply lower on Monday, after Chinese shares tumbled more than 8% overnight. The decline came as Beijing held back from implementing fresh measures to support Chinese equities after markets fell 11% last week.

Financial markets have been roiled since China devalued the Yuan on August 11, exacerbating fears over a China-led slowdown in the global economy.

The dollar has come under pressure as mounting uncertainty over the global growth outlook and the subdued US inflation outlook has prompted investors to scale back expectations for an initial rate hike by the Federal Reserve.


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

Postby dwang » Fri Aug 28, 2015 3:40 am

COZfx: NZD/USD edges higher but gains seen limited

COZforex: The New Zealand dollar edged higher against its US counterpart on Thursday, but gains were expected to remain limited as demand for the greenback remained supported by upbeat U.S. data published on Wednesday.

NZD/USD hit 0.6431 amid late Asian trade, the session high; the pair subsequently consolidated at 0.6451, adding 0.22%. In technical analysis, NZD/USD was likely to find support at 0.6406, Wednesday's low and resistance at 0.6567, Tuesday's high.

The New Zealand dollar remained affected by developments in China, New Zealand's second biggest export partner.
Concerns over whether a free fall in China’s stocks will make the world’s second-largest economy weaker persisted. Shares in Shanghai opened higher on Thursday, after ending the previous session 1.27% lower.

Recent steep declines in Chinese equity markets have sparked fears that they will hasten an economic downturn and undermined investor confidence in the government’s ability to revitalize economic growth.

The turmoil in markets began when China unexpectedly devalued the Yuan on August 11, sparking fears over the condition of the economy.

Meanwhile, the greenback remained supported after the US Commerce Department reported on Wednesday that total durable goods orders increased by 2.0% last month, compared to expectations for a decline of 0.4%.

Core durable goods orders, which exclude volatile transportation items, inched up 0.6%, topping forecasts for an increase of 0.4%.

Investors were eyeing the release of US second-quarter growth data later in the day, for further indications on the strength of the economy.


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

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