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Thread: Daily market news from Cozfx

  1. #341
    fxtrader505 is offline Senior Member
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    COZFX: Germany’s industrial production declined more-than-estimated in June

    COZFOREX: For the past trading session, the EUR slightly rose against the USD and closed at 1.1205.

    On the macro front, Germany’s seasonally adjusted industrial production fell 1.5% on a monthly basis in June, following a revised advance of 0.1% in the previous month. Market participants had anticipated industrial production to record a drop of 0.5%.

    In the US, data showed that the MBA mortgage applications advanced 5.3% on a weekly basis in the week ended 02 August 2019, compared to a decline of 1.4% in the prior week. Meanwhile, consumer credit registered a less-than-anticipated rise of $14.6 billion in June. Consumer credit had registered a revised rise of $17.8 billion in the previous month.

    In the Asian session (at GMT0300), the pair is trading at 1.1210, with the EUR trading a tad higher against the USD from yesterday’s close.

    In technical analysis, COZFX strategist Nigel Boynton said: GBP/USD is expected to find support at 1.1179 and a fall through could take it to the next support level of 1.1148; Meanwhile, the pair is expected to find its first resistance at 1.1241, and a rise through could take it to the next resistance level of 1.1273.

    Moving ahead, traders would await the European Central Bank’s economic bulletin, set to release in a few hours. Later in the day, the US initial jobless claims, will garner significant amount of investor’s attention.

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


    (COZ forex UK)

  2. #342
    fxtrader505 is offline Senior Member
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    COZFX: Japanese Yen reverses its gains in the Asian session

    COZFOREX: For the past trading session, the USD declined 0.21% against the JPY and closed at 105.27.

    In the Asian session (at GMT0300), the pair is trading at 105.48, with the USD trading 0.21% higher 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 105.16 and a fall through could take it to the next support level of 104.84; Meanwhile, the pair is expected to find its first resistance at 105.69, and a rise through could take it to the next resistance level of 105.90.

    Trading trend in the Japanese Yen today, is expected to be determined by Japan’s machine tool orders for July, scheduled to release in a while.

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


    (COZ forex UK)

  3. #343
    fxtrader505 is offline Senior Member
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    COZFX: Swiss Franc trading a tad lower in the Asian session

    COZFOREX: For the past trading session, the USD rose 0.22% against the CHF and closed at 0.9788 on Friday.

    In the Asian session (at GMT0300), the pair is trading at 0.9789, with the USD trading marginally higher against the CHF from Friday’s close.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: USD/CHF is expected to find support at 0.9774 and a fall through could take it to the next support level of 0.9760; Meanwhile, the pair is expected to find its first resistance at 0.9806, and a rise through could take it to the next resistance level of 0.9824.

    With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic releases 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)

  4. #344
    fxtrader505 is offline Senior Member
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    COZFX: Yellow metal trading a tad lower this morning

    COZforex: For the past trading session, Gold declined 0.31% against the USD and closed at USD1512.40 per ounce, amid rise in global equities.

    In the Asian session (at GMT0300), the pair is trading at 1511.90, with gold trading marginally lower against the USD from yesterday’s close.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: Yellow metal is expected to find support at 1506.40 and a fall through could take it to the next support level of 1500.90; Meanwhile, the metal is expected to find its first resistance at 1517.50, and a rise through could take it to the next resistance level of 1523.10.

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


    (COZ forex UK)

  5. #345
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    COZFX: Oil trading lower, ahead of EIA’s weekly crude oil stockpiles data

    COZforex: For the past trading session, Crude Oil rose 3.17% against the USD and closed at USD55.59 per barrel, after the American Petroleum Institute (API) reported that US crude oil inventories declined by 11.1 million barrels in the week ended 23 August 2019 and amid OPEC-led output cuts.

    In the Asian session (at GMT0300), the pair is trading at 55.48, with oil trading 0.20% lower against the USD from yesterday’s close.

    In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: The crude oil is expected to find support at 54.20 and a fall through could take it to the next support level of 52.93; Meanwhile, the oil is expected to find its first resistance at 56.24, and a rise through could take it to the next resistance level of 57.01.

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


    (COZ forex UK)

  6. #346
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    COZFX: UK’s construction PMI unexpectedly fell to a decade low level in August

    COZFOREX: For the past trading session, the GBP rose 0.19% against the USD and closed at 1.2088.

    Data showed that UK’s construction PMI unexpectedly eased to a level of 45.0 in August, marking its sharpest decline since March 2009 and defying market consensus for a rise to a level of 46.5. In the preceding month, the PMI had recorded a reading of 45.3.

    In the Asian session (at GMT0300), the pair is trading at 1.2112, with the GBP trading 0.20% higher against the USD from yesterday’s close.

    In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: GBP/USD is expected to find support at 1.2010 and a fall through could take it to the next support level of 1.1908; Meanwhile, the pair is expected to find its first resistance at 1.2163, and a rise through could take it to the next resistance level of 1.2214.

    Moving ahead, investors would keep an eye on UK’s Markit services PMI for August, slated to release in a few hours.

    The currency pair is trading above its 20 Hr and 50 Hr moving averages.


    (COZ forex UK)

  7. #347
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    COZFX: Australia’s Westpac leading index declined in August

    COZFOREX: For the past trading session, the AUD slightly declined against the USD and closed at 0.6864.

    In commodities, LME Copper prices declined 2.0% or $115.0/MT to $5762.0/MT; Meanwhile, Aluminium prices declined 0.8% or $14.0/MT to $1756.5/MT.

    In the Asian session (at GMT0300), the pair is trading at 0.6852, with the AUD trading 0.17% lower against the USD from yesterday’s close.

    Overnight data showed that Australia’s Westpac leading index fell 0.3% on a monthly basis in August, compared to a revised rise of 0.2% in the preceding month.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: AUD/USD is expected to find support at 0.6832 and a fall through could take it to the next support level of 0.6813; Meanwhile, the pair is expected to find its first resistance at 0.6870, and a rise through could take it to the next resistance level of 0.6889.

    Going forward, traders would keep an eye on Australia’s unemployment rate for August, slated 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)

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