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Daily market news by Cozfx

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Re: Daily market news by Cozfx

Postby dwang » Wed Sep 02, 2015 4:00 am

COZfx: Preliminary consumer prices in Germany raised more than expected

COZforex: For the last trading session, the EUR rise 0.13% against the USD and closed at 1.1220, after preliminary consumer prices in Germany rose more than expected 0.2% YoY in August.

Euro zone’s business climate indicator and the industrial confidence index declined more than expected in August, while the consumer confidence index rise less than expected in August.

In the US, Michigan’s consumer sentiment fell more than expected in August from July.

Yesterday, Germany’s retail sales rebounded in July, rising 1.4%, after a drop of 1.0% in the previous month.

In the US, the Chicago Fed PMI fell to a level of 54.40 in August, compared to a level of 54.70 in the previous month. The Dallas Fed manufacturing business index declined unexpectedly to a level of -15.80 in August, compared to a level of -4.60 in the previous month.

In technical analysis, COZforex senior currency strategist Ian • Quigley said, EUR/USD is predicted to find support at 1.1208 and a drop through could take it to the next support line of 1.1145. Meanwhile, the pair is predicted to find its first resistance at 1.1305, and a rise through could take it to the next resistance line of 1.1340.

Trading trends in the pair today are expected to be determined by unemployment rate of Euro zone as well as Germany.


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

Postby dwang » Mon Sep 07, 2015 3:30 am

COZfx: GBP/USD weekly outlook amid September 7 - 11

COZforex: The pound dropped to 4 month lows against the dollar on Friday as markets digested the latest US employment report, showing that the rate of jobs growth moderated in August.

The Labor Department reported that the US economy added 173,000 jobs last month, slowing after an upwardly revised gain of 245,000 in July. It was the smallest increase in employment in five months and was below expectations for 220,000.

The unemployment rate ticked down to 5.1%, its lowest level since April 2008 from 5.3% in July, while average hourly wages rose by a stronger-than-expected 2.2%.

The jobs report failed to provide much clarity on whether the Federal Reserve will decide to raise short term interest rates later this month.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last at 96.26, almost unchanged for the day after fluctuating between small gains and losses.

Sterling remained on the defensive after surveys pointing to slowing growth in UK business activity in August clouded the outlook for third quarter growth and tempered expectations for higher interest rates.

A report on Thursday showed that the UK service sector grew at the slowest pace in over two years last month, and similar surveys earlier in the week showed that manufacturing and construction output also slowed in August.

Wednesday’s UK data on industrial production and Thursday’s monetary policy statement by the Bank of England will also be closely watched.


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

Postby dwang » Wed Sep 09, 2015 4:08 am

COZfx: AUD trading higher on improved business conditions

COZforex: For the last trading session, the AUD strengthened 0.23% against the USD to close at 0.6935.

China, Australia’s biggest trading partner, revised its 2014 GDP growth rate to 7.3% from a previously reported 7.4%, amid a weaker than originally reported service sector data.

In commodities, LME Copper prices rose 0.40 or $20.5/MT to $5176.0/MT. Meanwhile, Aluminium prices declined 0.84% or $13.5/MT to $1588.0/MT.

Earlier today, NAB business conditions index jumped from 6 in July to 11 in the last month. Meanwhile, due to Chinese turmoil, the NBA confidence index tumbled from 4 to 1 in August.

Elsewhere, China’s trade surplus widened to $60.24 billion, after reporting a surplus of $43.03 billion in prior month.

In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: AUD/USD is predicted to find support at 0.692 and a fall through could take it to the next support line of 0.6887. Meanwhile, the pair is predicted to find its first resistance at 0.6979, and a rise through could take it to the next resistance line of 0.7005.

Going ahead, Australia’s consumer confidence data, to be released in the early hours of tomorrow, would be keenly awaited by the investors.


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

Postby dwang » Fri Sep 18, 2015 3:40 am

COZfx: NZD/USD holds steady after NZ current account data

COZforex: The New Zealand dollar was steady against its US counterpart on Wednesday, after the release of relatively positive current account data from New Zealand and as investors remained cautious ahead of the Federal Reserve's policy statement the next day.

NZD/USD hit 0.6365 during late Asian trade, the session high; the pair subsequently consolidated at 0.6356. In technical analysis, COZforex senior currency strategist Ian • Quigley said: NZD/USD was likely to find support at 0.6291, Tuesday's low and resistance at 0.6435, the high of September 9.

Statistics New Zealand reported on Wednesday that the country's current account dropped into a deficit of NZ$1.22 billion in the second quarter from a surplus of NZ$0.66 billion in the three months to March. Analysts had expected the current account to fall into a deficit of NZ$1.50 billion in the second quarter.

Meanwhile, markets were jittery amid concerns that mixed US economic reports and recent volatility in global financial markets will prompt the Fed to refrain from hiking interest rates on Thursday.

Data on Tuesday showed that US retail sales rise 0.2% in August, compared to expectations for an increase of 0.3%, while core retail sales, which exclude automobiles, added 0.1% last month, confounding expectations for a 0.2% rise.

A separate report showed that US industrial production fell 0.4% in August, compared to expectations for a 0.2% downtick.


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

Postby dwang » Tue Sep 22, 2015 3:47 am

COZfx: USD/CAD trims losses after downbeat Canadian data

COZforex: The US dollar trimmed losses against its Canadian counterpart on Monday, after the release of downbeat Canadian wholesale sales data, although a surge in oil prices still supported demand for the commodity-linked Canadian currency.

USD/CAD eased off 1.3177, the session low, to hit 1.3220 during early U.S. trade, steady for the day. In technical analysis, COZFX strategist Nigel Boynton said: USD/CAD was likely to find support at 1.3006, Friday's low and a one-month low and resistance at 1.3260, the high of September 16.

Statistics Canada reported on Monday that wholesale sales were flat in July, compared to expectations for a 0.8% increase, after a 1.3% gain the previous month.

But the Canadian dollar remained supported by rising oil prices. Crude oil futures for October delivery were up 2.62% at $46.21 at the open of U.S. trading.

Meanwhile, the greenback regained strength after the US central bank left short-term interest rates unchanged last Thursday, amid concerns over soft inflation and the effects of recent market volatility on the US economy.

The Fed said it wanted to see "some further improvement in the labor market," and be "reasonably confident" that inflation will increase before hiking rates.

While the decision was not completely unexpected the Fed’s concerns over the uncertain outlook for global growth rattled financial markets and pressured the dollar lower.


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

Postby dwang » Mon Sep 28, 2015 5:05 am

COZfx: Pounds extends its losses this morning

COZforex: For the past trading session, the GBP dropped 0.06% against the USD and closed at 1.5220.

Yesterday, the BoE Deputy Governor, Ben Broadbent, announced that the central bank would undertake an interest rate hike only during the second half of next year. He further stated that the country’s unit labour costs should increase before the central bank achieves its inflation target of 2%.

On the macroeconomic front, the British Bankers’ Association reported that the UK mortgage approvals rose to 46,743 in August from 46,315 in July, its highest level since early 2014. Market participants had forecasted 47,000 approvals for August.

In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: GBP/USD is predicted to find support at 1.518 and a drop through could take it to the next support level of 1.5145. Meanwhile, the pair is predicted to find its first resistance at 1.527, and a rise through could take it to the next resistance line of 1.5325.

Going forward, investors would keep a close eye on UK’s crucial Q2 GDP as well as services, manufacturing and construction PMI data’s in the coming week to get better insights in the nation’s economy.


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

Postby dwang » Thu Oct 08, 2015 4:35 am

COZfx: JPY gains despite weak core manufacturing figures

COZforex: The yen gained on Thursday despite continued weak manufacturing data from Japan.

USD/JPY changed hands at 119.91, down 0.09%, while AUD/USD fell 0.18% to 0.7195.

In Japan core machinery orders plunged 5.7% in August, sharply missing the expected 3.2% gain month-on-month, leading the government to downgrade its views on the sector after the third straight monthly drop.

As well current account showed a surplus of ¥1.653 trillion in August, above the previous month's ¥1.037 trillion.

The Bank of Japan refrained from expanding its stimulus program on Wednesday but there is still speculation the central bank could ease monetary policy at its October meeting.

Data last month showed that core inflation in Japan dropped for the first time since the BOJ launched its $1.4 trillion quantitative easing program in 2013 in a bid to bolster growth and end years of deflation.

Overnight, the dollar regained ground against the other major currencies in subdued trade on Wednesday, but gains were expected to remain limited as investors continued to digest the fact that the Federal Reserve is unlikely to raise interest rates this year.

The Bank of Japan refrained from expanding its stimulus program on Wednesday but there is still speculation the central bank could ease monetary policy at its October meeting.

Data last month showed that core inflation in Japan declined for the first time since the BoJ launched its $1.4 trillion quantitative easing program in 2013 in a bid to bolster growth and end years of deflation.


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

Postby dwang » Mon Oct 12, 2015 3:35 am

COZfx: Aussie ticks higher as Fed minutes signal hold on rates

COZforex: The Australian dollar ticked higher on Friday as investors noted a cautious tone in September minutes of the Federal Reserve's policy review as a signal rates are on hold for at least another month.

The relatively dovish minutes from the September meeting may bolster arguments that the FOMC could wait as long as March of next year before lift-off. Previously, it was widely believed the FOMC could raise rates either this month or when it meets in December. A rate hike is viewed as bullish for the dollar, as foreign investors pile into the greenback looking to capitalize on higher yields.

In Australia, August housing finance rise 2.9%, below the expected gain of 5.0%, though up from a 0.3% fall in the previous month.

Investors were set to scrutinize the minutes of the Fed’s September meeting for any clues on whether it will hike rates before the years end or wait until 2016.

The dollar has come under pressure since last Friday’s weaker than expected US jobs report prompted investors to push back expectations on the timing of an initial rate hike to next year.

Earlier Thursday data showed that the number of people filing first time claims for jobless benefits in the US last week dropped to the lowest level in almost 42 years, indicating that the labor markets is continuing to tighten despite the slowdown in job creation.

The Labor Department said the number of initial jobless claims in the week ending October 3 fell by 13,000 to 263,000 from the previous week’s downwardly revised total of 276,000.


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

Postby dwang » Fri Oct 16, 2015 4:21 am

COZfx: Euro continues its gains

COZforex: For the past trading session, the EUR rise 0.77% against the USD and closed at 1.1474.

Macroeconomic data released showed that industrial production in the Euro-zone rose less-than-expected by 0.9% in August, from an upwardly revised 1.7% rise in July. Investors had expected it to increase by 1.8%. On the other hand, on a basis, industrial production dropped 0.5%in August, at par with market expectations, from an upwardly revised 0.8% rise in the previous month.

Elsewhere, the final consumer price index in France, Euro-zone’s second largest economy, remained stable at 0.1% YoY in September, in line with expectations. Meanwhile, Italy’s final consumer price inflation fell more-than-expected by 0.4% in September. On an annual basis, the index rose 0.2%, compared to its preliminary figure of 0.3%.

Data showed that US retail sales edged up 0.1% in September, missing the forecasted rise of 0.2%, and after being flat in August. At the same time, producer price index in the US dropped 0.5% in the same month, after staying flat in August, while markets expected it to slip by 0.2%. The more-than-expected decline in producer prices was largely attributed to a steep fall in energy prices.

Further, the US MBA mortgage applications plunged 27.6% in the week ended 09 October, following a jump of 25.5% in the preceding week,

In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is predicted to find support at 1.1418 and a drop through could take it to the next support line of 1.1347; Meanwhile, the pair is predicted to find its first resistance at 1.1526, and a rise through could take it to the next resistance line of 1.1562.

Moving ahead, investors will pay close attention to the US consumer price index and the Philadelphia Fed manufacturing survey data, both for the month of September, scheduled to be released later today.


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

Re: Daily market news by Cozfx

Postby dwang » Tue Oct 20, 2015 3:33 am

COZfx: USD/CAD edges higher in early trade

COZforex: The U.S. dollar edged higher against its Canadian counterpart on Monday, as the greenback regained some ground after the release of mixed U.S. data on Friday dampened optimism over the strength of the economy.

USD/CAD hit 1.2947 during European afternoon trade, the pair's highest since October 14; the pair subsequently consolidated at 1.2942, rising 0.23%. In technical analysis, COZFX strategist Nigel Boynton said: USD/CAD was likely to find support at 1.2848, the low of October 16 and resistance at 1.3039, the high of October 14.

The preliminary reading of the University of Michigan’s consumer sentiment index came in at 92.1 on Friday, compared to forecasts of 89 and up from 87.2 in September.

But another report showed that US industrial production declined 0.2% in September, pressured lower by weakness in the oil and gas sector.

Separately, markets were jittery after data on Monday showed that China’s economic growth slowed to 6.9% in the third quarter, down from 7% in the previous quarter. The figure is the country's slowest growth rate since 2009.

A separate report showed that Chinese industrial production rise at a year-on-year rate of 5.7% in September, disappointing expectations for a 6.0% gain.


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

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