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Thread: Daily market news from Cozfx

  1. #331
    fxtrader505 is offline Senior Member
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    COZFX: Aussie trading higher in the morning session

    COZforex: For the past trading session, the AUD rose 0.15% against the USD and closed at 0.6887.

    In commodities, LME Copper prices rose 0.8% or $46.5/MT to $5895.0/MT; Meanwhile, Aluminium prices rose 0.8% or $13.5/MT to $1746.5/MT.

    In the Asian session (at GMT0300), the pair is trading at 0.6895, with the AUD trading 0.12% higher against the USD from yesterday’s close.

    The Reserve Bank of Australia’s Governor, Philip Lowe, stated that the bank is likely to cut interest rates to achieve higher employment growth and get inflation back to a more comfortable level.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: AUD/USD is expected to find support at 0.6864 and a fall through could take it to the next support level of 0.6832; Meanwhile, the pair is expected to find its first resistance at 0.6918, and a rise through could take it to the next resistance level of 0.6940.

    Looking forward, traders would closely monitor Australia’s CBA manufacturing and services PMI for June, scheduled to release overnight.

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


    (COZ forex UK)

  2. #332
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    COZFX: Loonie trading on a negative footing in the Asian session

    COZforex: For the past trading session, the USD declined 0.05% against the CAD and closed at 1.3176.

    In the Asian session (at GMT0300), the pair is trading at 1.3185, with the USD trading 0.07% higher against the CAD from yesterday’s close.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: USD/CAD is expected to find support at 1.3156 and a fall through could take it to the next support level of 1.3126; Meanwhile, the pair is expected to find its first resistance at 1.3212, and a rise through could take it to the next resistance level of 1.3238.

    Amid lack of economic releases in Canada today, traders would focus on global macroeconomic events for further direction.

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


    (COZ forex UK)

  3. #333
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    COZFX: Euro-zone’s consumer price inflation advanced as estimated in June

    COZFOREX: For the past trading session, the EUR marginally rose against the USD and closed at 1.1371 on Friday.

    On the data front, the Euro-zone’s preliminary consumer price index rose 1.2% on a yearly basis in June, meeting market expectations. In the prior month, the CPI had registered a similar rise.

    In the US, data indicated that the personal spending advanced 0.4% on a monthly basis in May, undershooting market expectations for a gain of 0.5%. In the prior month, personal spending had recorded a revised rise of 0.6%. Moreover, the nation’s personal income climbed 0.5% on a monthly basis in May, compared to a similar rise in the previous month. Markets had envisaged personal income to register an increase of 0.3%.

    On the other hand, the final Reuters/Michigan consumer sentiment index declined to a level of 98.2 in June, compared to a level of 100.0 in the prior month. Market participants and preliminary figures had expected the index to fall to a level of 97.9. Also, the US Chicago Fed Purchasing Managers’ Index contracted to a level of 49.7 in June, compared to a reading of 54.2 in the previous month. Market had anticipated the index to drop to a level of 53.5.

    In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1336 and a fall through could take it to the next support level of 1.1320; Meanwhile, the pair is expected to find its first resistance at 1.1381, and a rise through could take it to the next resistance level of 1.1410.

    Looking ahead, traders would keep an eye on the Euro-zone’s unemployment rate and the Markit manufacturing PMI, both for June, set to release across the euro bloc. Additionally, Germany’s unemployment rate for June, will also be on investors’ radar. Later in the day, the US Markit manufacturing PMI and the ISM manufacturing, both for June along with construction spending for May, will garner significant amount of investors’ attention.


    (COZ forex UK)

  4. #334
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    COZFX: Yellow metal reverses its losses in the morning session

    COZFOREX: For the past trading session, Gold declined 0.08% against the USD and closed at USD1418.70 per ounce.

    In the Asian session (at GMT0300), the pair is trading at 1420.20, with gold trading 0.11% higher against the USD from yesterday’s close.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: The Gold is expected to find support at 1413.00 and a fall through could take it to the next support level of 1405.80; Meanwhile, Gold is expected to find its first resistance at 1427.10, and a rise through could take it to the next resistance level of 1434.00.

    The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.


    (COZ forex UK)

  5. #335
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    COZFX: Japan’s machine tool orders decline in June

    COZFOREX: For the past trading session, the USD rose 0.13% against the JPY and closed at 108.89.

    Data revealed that Japan’s preliminary machine tool orders tumbled 38.0% on a yearly basis in June, following a drop of 27.3% in the prior month.

    In the Asian session (at GMT0300), the pair is trading at 108.89, with the USD trading flat against the JPY from yesterday’s close.

    In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: USD/JPY is expected to find support at 108.74 and a fall through could take it to the next support level of 108.6; Meanwhile, the pair is expected to find its first resistance at 109.01, and a rise through could take it to the next resistance level of 109.14.

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


    (COZ Forex UK)

  6. #336
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    COZFX: Switzerland’s producer and import price dropped in June

    COZFOREX: For the past trading session, the USD declined 0.06% against the CHF and closed at 0.9842.

    In economic news, Switzerland’s producer and import price index fell 1.4% on a yearly basis in June, following a drop of 0.8% in the prior month.

    In the Asian session (at GMT0300), the pair is trading at 0.9850, with the USD trading 0.08% higher against the CHF from yesterday’s close.

    In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: USD/CHF is expected to find support at 0.9827 and a fall through could take it to the next support level of 0.9804; Meanwhile, the pair is expected to find its first resistance at 0.9864, and a rise through could take it to the next resistance level of 0.9878.

    With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic releases for further direction.

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


    (COZ forex UK)

  7. #337
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    COZFX: Crude oil trading higher, ahead of Baker Hughes weekly rig count data

    COZFOREX: For the past trading session, Crude Oil declined 1.40% against the USD and closed at USD55.80 per barrel, amid expectations of rise in crude oil production from the US Gulf of Mexico region.

    In the Asian session (at GMT0300), the pair is trading at 56.34, with oil trading 0.97% higher against the USD from yesterday’s close, amid renewed tensions in the Middle East, after the US Navy destroyed an Iranian drone in the Strait of Hormuz.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: The crude oil is expected to find support at 54.93 and a fall through could take it to the next support level of 53.53; Meanwhile, the oil is expected to find its first resistance at 57.53, and a rise through could take it to the next resistance level of 58.73.

    Crude oil is trading between its 20 Hr and 50 Hr moving averages.


    (COZ forex UK)

  8. #338
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    COZFX: UK’s BBA mortgage approvals rose less-than-estimated in June

    COZFOREX: For the past trading session, the GBP rose 0.35% against the USD and closed at 1.2481.

    In economic news, UK’s BBA mortgage approvals advanced to a level of 42.65K in June, undershooting market expectations for a rise to a level of 42.70K. The mortgage approvals had recorded a revised reading of 42.41K in the previous month.

    In the Asian session (at GMT0300), the pair is trading at 1.2479, with the GBP trading marginally lower against the USD from yesterday’s close.

    In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: GBP/USD is expected to find support at 1.2430 and a fall through could take it to the next support level of 1.2381; Meanwhile, the pair is expected to find its first resistance at 1.2525, and a rise through could take it to the next resistance level of 1.2571.

    Amid lack of economic releases in UK today, traders would focus on global macroeconomic events for further direction.

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


    (COZ forex UK)

  9. #339
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    COZFX: Australia’s building approvals surprisingly fell to a six-year low in June

    COZforex: For the past trading session, the AUD declined 0.14% against the USD and closed at 0.6902.

    In commodities, LME Copper prices rose 0.1% or $4.5/MT to $5949.5/MT; Meanwhile, Aluminium prices declined 0.2% or $3.5/MT to $1774.5/MT.

    In the Asian session (at GMT0300), the pair is trading at 0.6905, with the AUD trading slightly higher against the USD from yesterday’s close.

    Overnight data indicated that Australia’s seasonally adjusted building approvals unexpectedly declined to its lowest level in six years by 1.2% on a monthly basis in June, compared to a revised advance of 0.3% in the prior month. Market participants had anticipated building approvals to register a gain of 0.2%.

    In technical analysis, COZFX strategist Nigel Boynton said: AUD/USD is expected to find support at 0.6896 and a fall through could take it to the next support level of 0.6886; Meanwhile, the pair is expected to find its first resistance at 0.6914, and a rise through could take it to the next resistance level of 0.6922.

    Moving forward, traders would closely monitor Australia’s consumer price index for the second quarter and private sector credit for June, scheduled to release overnight.

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


    (COZ forex UK)

  10. #340
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    COZFX: Canada’s RBC manufacturing PMI advanced in July

    COZforex: For the past trading session, the USD rose 0.18% against the CAD and closed at 1.3213.

    On the macro front, Canada’s RBC manufacturing PMI climbed to a level of 50.2 in July, following a level of 49.2 in the preceding month.
    In the Asian session (at GMT0300), the pair is trading at 1.3222, with the USD trading 0.07% higher against the CAD from yesterday’s close.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: USD/CAD is expected to find support at 1.3188 and a fall through could take it to the next support level of 1.3153; Meanwhile, the pair is expected to find its first resistance at 1.3252, and a rise through could take it to the next resistance level of 1.3282.

    Moving forward, investors would closely monitor Canada’s new housing price index and unemployment rate, both set to release next week.

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


    (COZ forex UK)

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