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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)

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