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Thread: Daily market news from Cozfx

  1. #91
    fxtrader505 is offline Senior Member
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    COZfx: The French final GDP rise 0.3% in 3Q15

    COZforex: For the last trading session, the EUR dropped 0.41% against the USD and closed at 1.0906.

    In economic news, the French final GDP rise 0.3% in 3Q15 on a quarterly basis, at par with market expectations, up from an unchanged reading in the previous quarter. The preliminary figures had also indicated an advance of 0.3%.

    In the US, the preliminary durable goods orders remained steady in November, compared with market expectations for a drop of 0.6%. Durable goods orders had risen 2.9% in the prior month. Meanwhile, new home sales climbed 4.3% on a monthly basis in November, to a level of 490.0K, compared to a revised level of 470.0K in the prior month. Market anticipation was for new home sales to climb to 505.0K.

    In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is predicted to find support at 1.0883 and a drop through could take it to the next support line of 1.0837; Meanwhile, the pair is predicted to find its first resistance at 1.0962, and a rise through could take it to the next resistance line of 1.0995.

    Going forward, investors would keep a close watch on the US initial jobless claims data, scheduled later today. The currency pair is trading above its 20 Hr and 50 Hr moving averages.


    (COZ forex UK)

  2. #92
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    COZfx: Aussie down as Caixin PMI weaker than expected

    COZforex: The Australian dollar fell further in Asia on Monday as manufacturing in key export destination in China came into focus.

    AUD/USD traded at 0.7222, down 0.93%%, while USD/JPY changed hands at 119.74, down 0.30%.

    China's Caixin manufacturing index for December fell to 48.2, well below a forecast of 49 and less than the 48.6 previously. Japan said its manufacturing index for December came in at 52.6, up from 52.5.

    In Australia, the AIG manufacturing index came in at 51.9, in expansion, but down from 52.5 previously.

    In the week ahead, investors will be looking ahead to Friday’s US jobs report for December, as well as reports on US manufacturing and service sector activity. Tuesday’s euro zone inflation report will also be in focus.

    In the US, the Institute of Supply Management is to release data on manufacturing activity.

    Last week, the dollar traded higher on the last day of the year on Thursday, at the end of a year which saw the greenback post gains of almost 9% against the other major currencies, boosted by the diverging monetary policy stance between the Federal Reserve and other world central banks.

    The Fed hiked US interest rates for the first time in almost a decade last month and further rate increases are expected in 2016.

    The Australian dollar ended the year down 11% against the greenback, the third year of losses, while the New Zealand dollar lost 12%.


    (COZ forex UK)

  3. #93
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    COZfx: UK’s manufacturing sector slowed in December

    COZforex: For the past trading session, the GBP dropped 0.16% against the USD and closed at 1.4711, after UK’s Markit manufacturing PMI unexpectedly declined to a 3-month low level of 51.9 in December, compared to market expectations of an advance to 52.8 and after recording a revised reading of 52.5 in the previous month, dampening optimism about the health of the UK economy.

    On the other hand, the nation’s mortgage approvals surprisingly advanced to a 3-month high level of 70.4K in November, following a revised reading of 69.9K in the previous month and defying investor expectations for it to fall to a level of 69.8K. Additionally, net consumer credit in the UK rose more-than-anticipated by 1.5 billion in November, against market expectations for an advance of 1.3 billion and after rising by 1.2 billion in the prior month.

    In technical analysis, COZFX strategist Nigel Boynton said: GBP/USD is predicted to find support at 1.4650 and a drop through could take it to the next support line of 1.4579; Meanwhile, the pair is expected to find its first resistance at 1.4804, and a rise through could take it to the next resistance level of 1.4888.

    Moving ahead, investors will concentrate on UK’s Markit construction PMI data for December, scheduled to be released in a few hours, for further cues.


    (COZ forex UK)

  4. #94
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    COZfx: Japan’s preliminary leading and coincident indices dropped in November

    COZforex: For the past trading session, the USD weakened 0.77% against the JPY and closed at 117.58.

    In the Asian session, the pair is trading at 118.23, with the USD trading 0.55% higher from yesterday’s close.

    Early this morning, data showed that Japan’s preliminary leading index dropped to a level of 103.9 in November, in line with investor expectations, from a reading of 104.2 in the previous month. Additionally, the nation’s flash coincident index declined, as expected to a level of 111.6 in November, compared to a reading of 113.3 in the prior month.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/JPY is predicted to find support at 117.50 and a drop through could take it to the next support line of 116.78; Meanwhile, the pair is predicted to find its first resistance at 118.78, and a rise through could take it to the next resistance line of 119.34.

    Moving ahead, investors will look forward to Japan’s trade balance, consumer confidence and machine tool orders data, all scheduled to be released next week, for further cues.


    (COZ forex UK)

  5. #95
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    COZfx: NZD/USD slides lower as focus remains on China

    COZforex: The New Zealand dollar slid lower against its US counterpart on Tuesday, as ongoing concerns over volatility in Chinese markets continued to weigh on sentiment.

    NZD/USD hit 0.6534 during late Asian trade, the session low; the pair subsequently consolidated at 0.6538, shedding 0.29%. In technical analysis, COZforex senior currency strategist Ian • Quigley said: NZD/USD was likely to find support at 0.6506, Monday’s low and a one-and-a-half month trough and resistance at 0.6685, the high of January 8.

    Investors remained cautious after China’s central bank moved once again to support the Yuan, but losses in Chinese shares overnight fuelled further concerns over the outlook for the world’s second largest economy.

    The Yuan’s central parity rate against the U.S. dollar was set at 6.5628 Tuesday, slightly weaker than Monday's 6.5626 level set by the People's Bank of China.

    On Monday, China’s central bank attempted to soothe markets by setting the daily fix for the Yuan against the dollar dramatically higher in comparison with its level at last week's close. While the Chinese currency surged against the dollar in offshore trade, Chinese equities continued to plunge, extending severe losses from the opening week of the year.

    China is New Zealand’s second biggest export partner.


    (COZ forex UK)

  6. #96
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    COZfx: Euro trading on a weaker footing in the Asian session

    COZforex: For the past trading session, the EUR rise 0.84% against the USD and closed at 1.0956.

    In economic news, the Euro-zone’s seasonally adjusted trade balance rose more than expected to a level of €22.7 billion in November, climbing to nine-month high as exports increased amid a fall in imports and compared to a surplus of €19.9 billion in the preceding month. Meanwhile, markets expected it to rise to a level of €21.1 billion.

    The greenback lost ground, on the back of discouraging US economic data. Data showed that industrial production in the nation declined for the third straight month, after it fell by 0.4% in December, following a drop of 0.9% in the previous month and compared to market expectation of a fall of 0.2%. Additionally, US advance retail sales declined by 0.1% in December, recording its weakest yearly decline since 2009, in line with investor expectation and following a revised gain of 0.4% in the previous month, thus darkening the growth picture of the US economy. Moreover, business inventories in the US registered their biggest drop since 2011, after it eased by 0.2% in November, compared to investor expectations for it to drop by 0.1%.

    On the other hand, the nation’s preliminary Reuters/Michigan consumer sentiment index climbed to a level of 93.3 in January while markets expected it to remain steady at previous month’s reading of 92.6.

    In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is predicted to find support at 1.0841 and a drop through could take it to the next support line of 1.0789; Meanwhile, the pair is predicted to find its first resistance at 1.0966, and a rise through could take it to the next resistance line of 1.1038.


    (COZ forex UK)

  7. #97
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    COZfx: USD/CAD drops but remains close to nearly 13-year peak

    COZforex: The US dollar dropped against its Canadian counterpart on Tuesday, but remained within close distance of a nearly 13-year peak as plummeting oil prices continued to dampen demand for the Canadian currency.

    USD/CAD hit 1.4432 amid early US trade, the pair’s lowest since January 15; the pair subsequently consolidated at 1.4493, declining 0.47%. In technical analysis, COZFX strategist Nigel Boynton said: USD/CAD was likely to find support at 1.4338, the low of January 15 and resistance at 1.4653, Monday’s high and a nearly 13-year high.

    Sentiment on the commodity-related Canadian dollar remained vulnerable after oil prices fell below $28 per barrel on Monday, the lowest level in 12 years.

    The renewed fall in oil prices came as Iranian exports were set to resume after Western sanctions were lifted, fuelling fears over increased supplies amid a global supply glut and slowing demand.

    In Canada, data showed that foreign securities purchases increased by C$2.58 billion in November, compared to expectations for a gain of C$12.10 billion.

    Foreign securities purchases rose by C$19.08 billion in October, whose figure was revised from a previously estimated C$22.08 billion gain.


    (COZ forex UK)

  8. #98
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    COZfx: Canada’s retail sales post biggest jump in 18 months

    COZforex: For the past trading session, the USD declined 0.85% against the CAD and closed at 1.4144.

    The CAD gained ground, after Canada’s retail sales rise more than expected, raising the most in about one-and-a-half-years, after it increased by 1.7 in December, from a gain of 0.1% in the previous month and compared to market expectation of an increase of 0.2%.

    On the other hand, the nation’s consumer price index declined more than anticipated by 0.5% in December following a decline of 0.1% in the previous month and compared to market expectation of a fall of 0.4%.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/CAD is predicted to find support at 1.4067 and a drop through could take it to the next support line of 1.3998; Meanwhile, the pair is predicted to find its first resistance at 1.425, and a rise through could take it to the next resistance line of 1.4365.

    Amid no macroeconomic releases in Canada today, investor sentiment would be governed by global microeconomic news.


    (COZ forex UK)

  9. #99
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    COZfx: Australia’s inflation advanced 0.4% QoQ in 4Q 2015

    COZforex: For the past trading session, the AUD rise 0.66% against the USD and closed at 0.6995.

    In commodities, LME Copper prices rise 1.06% or $47.0/MT to $4501.0/MT. Meanwhile, Aluminium prices rise 0.03% or $0.5 /MT to $1480.5/MT.

    Overnight data showed that Australia’s Westpac leading index dropped 0.3% in December, after registering a revised similar drop in the previous month.

    Early this morning, data indicated that the nation’s consumer price index rise more than expected by 0.4% in the December quarter, following a gain of 0.5% in the previous quarter and beating market expectations for a 0.3% rise.

    Meanwhile in China, Australia’s largest trading partner, industrial profits dropped for the seventh consecutive month by 4.7% YoY in December, following a 1.4% fall in the previous month, as demand and sales weakened amid the economic slowdown. On the other hand, the nation’s Westpac-MNI consumer sentiment index rise to a level of 114.9 in January, from a reading of 113.7 in the previous month.

    In technical analysis, COZFX strategist Nigel Boynton said: AUD/USD is predicted to find support at 0.6940 and a drop through could take it to the next support line of 0.6867; Meanwhile, the pair is predicted to find its first resistance at 0.7064, and a rise through could take it to the next resistance line of 0.7116.


    (COZ forex UK)

  10. #100
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    COZfx: GBP trading on a weaker footing, ahead of UK’s construction PMI data

    COZforex: For the past trading session, the GBP rise 1.31% against the USD and closed at 1.4421, after UK’s seasonally adjusted Markit manufacturing PMI unexpectedly advanced to a 3-month high level of 52.9 in January, whereas investors expected it to fall to a level of 51.6, from a revised reading of 52.1 in the previous month.

    In addition, the nation’s mortgage approvals surprisingly rise to a level of 70.8K in December, touching its 4-month high level, after recording a revised increase of 70.4K in the preceding month and compared to market expectations of a drop to a level of 69.6K.

    On the other hand, the nation’s net consumer credit declined more than expected to a level of 1.2 billion in December, the weakest since May 2015. Meanwhile markets expected it to decline to a level of 1.3 billion, from 1.5 billion in the previous month.

    In technical analysis, COZFX strategist Nigel Boynton said: GBP/USD is predicted to find support at 1.4289 and a drop through could take it to the next support line of 1.4165; Meanwhile, the pair is predicted to find its first resistance at 1.4492, and a rise through could take it to the next resistance line of 1.4571.

    Moving ahead, investors will look forward to UK’s construction PMI for January, scheduled to be released in a few hours.


    (COZ forex UK)

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