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  1. #81
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    COZfx: Swiss economy expanded as expected in 3Q 2017

    COZforex: For the last trading session, the USD marginally declined against the CHF and closed at 0.9841.

    Macroeconomic data revealed that Switzerland’s seasonally adjusted gross domestic product rose 0.6% on a quarterly basis in the three months to September, meeting market consensus. The GDP had posted a revised rise of 0.4% in the previous quarter. Moreover, the nation’s KOF leading indicator unexpectedly climbed to a level of 110.3 in November, defying market expectations for a drop to a level of 109.7 and compared to a revised level of 109.8 in the previous month.

    On the other hand, the nation’s real retail sales fell 3.0% YoY in October. In the prior month, real retail sales had recorded a revised rise of 0.5%.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: USD/CHF is expected to find support at 0.9809 and a fall through could take it to the next support level of 0.9780; Meanwhile, the pair is expected to find its first resistance at 0.9875, and a rise through could take it to the next resistance level of 0.9912.

    Moving ahead, market participants will closely monitor Switzerland’s consumer price inflation and unemployment rate data, both due to release next week.

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


    (COZ forex UK)

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  3. #82
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    COZfx: BoC holds interest rate steady at 1.0%

    COZforex: For the past trading session, the USD rose 0.76% against the CAD and closed at 1.2792.

    The Canadian Dollar lost ground, after the Bank of Canada, at its latest monetary policy meeting, struck a cautious tone on further interest rate hikes.

    The BoC, in a widely anticipated move, opted to leave the benchmark interest rate steady at 1.0%. In a statement accompanying its rate decision, the central bank stated that interest rate hikes will likely be required over time, citing encouraging job and wage growth, but reiterated that the Governing Council will continue to be “cautious” about further rate hikes and added that any move will be based on the outlook for inflation and wage growth.

    In the Asian session, the pair is trading at 1.2801, 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 1.27 and a fall through could take it to the next support level of 1.26; Meanwhile, the pair is expected to find its first resistance at 1.2854, and a rise through could take it to the next resistance level of 1.2908.

    Moving ahead, investors would keep a close watch on Canada’s building permits data for October and Ivey–PMI for November, both due to release later today.

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


    (COZ forex UK)

  4. #83
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    COZfx: Australia’s Westpac consumer confidence rebounded in December

    COZforex: For the past trading session, the AUD rose 0.36% against the USD and closed at 0.7556.

    In commodities, LME Copper prices rose 1.0% or $66.5/MT to $6614.0/MT; Meanwhile, Aluminum prices rose 0.6% or $12.5/MT to $2004.0/MT.

    In the Asian session, the pair is trading at 0.7575, with the AUD trading 0.25% higher against the USD from yesterday’s close.

    Overnight data revealed that Australia’s Westpac consumer confidence index rebounded 3.6% in December, compared to a drop of 1.7% in the previous month.

    In technical analysis, COZFX strategist Nigel Boynton said: AUD/USD is expected to find support at 0.7542 and a fall through could take it to the next support level of 0.7508; Meanwhile, the pair is expected to find its first resistance at 0.7595, and a rise through could take it to the next resistance level of 0.7614.

    Looking ahead, market participants will await the release of Australia’s unemployment rate data for November, scheduled to release overnight.

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


    (COZ forex UK)

  5. #84
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    COZfx: Euro-zone’s trade surplus declined to a 3-month low in October

    COZforex: For the past trading session, the EUR declined 0.09% against the USD and closed at 1.1756 on Friday, after the Euro-zone’s seasonally adjusted trade surplus narrowed to a three-month low of €19.0 billion in October, amid a drop-in export and a rise in imports. In the previous month, the region had posted a revised trade surplus of €24.5 billion, while markets had expected for a fall to €24.3 billion.

    The greenback gained ground against a basket of major currencies on Friday, amid growing expectations that US lawmakers will pass a long-awaited tax bill before the year-end.

    On the macro front, industrial production in the US advanced 0.2% on a monthly basis in November, undershooting market consensus for an increase of 0.3%, as gains in the mining sector were offset by a fall in utilities output. Industrial production had registered a revised rise of 1.2% in the prior month. Moreover, the nation’s manufacturing production grew less-than-expected by 0.2% on a monthly basis in November, against market anticipations for an advance of 0.3%. Manufacturing production had registered a revised rise of 1.4% in the previous month.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: EUR/USD is expected to find support at 1.1730 and a fall through could take it to the next support level of 1.1697; Meanwhile, the pair is expected to find its first resistance at 1.1804, and a rise through could take it to the next resistance level of 1.1845.

    Going ahead, investors would eye the Euro-zone’s final inflation numbers for November, slated to release in a few hours. Moreover, the US NAHB housing market index for December, due to release later in the day, will be on investors’ radar.


    (COZ forex UK)

  6. #85
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    COZfx: UK’s Lloyds business confidence jumped to a 5-month high level in December

    COZforex: For the past trading session, the GBP rose 0.08% against the USD and closed at 1.3384.

    On the economic front, UK’s public-sector net borrowing posted a less-than-expected deficit of £8.1 billion in November, following a revised deficit of £7.2 billion in the previous month. Market participants had anticipated public sector net borrowing to post a deficit of £8.3 billion.

    In the Asian session, the pair is trading at 1.3380, with the GBP trading slightly lower against the USD from yesterday’s close.

    Data released overnight showed that the Lloyds business barometer increased to a level of 28.0 in December, surging to its highest level since July 2017, compared to a reading of 24.0 in the prior month.

    In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: GBP/USD is expected to find support at 1.3345 and a fall through could take it to the next support level of 1.3311; Meanwhile, the pair is expected to find its first resistance at 1.3401, and a rise through could take it to the next resistance level of 1.3423.

    Looking forward, UK’s final 3Q GDP numbers, due to release in a few hours, will attract significant amount of market attention.

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


    (COZ forex UK)

  7. #86
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    COZfx: Officials called for debate on interest rates, ETF purchases: BOJ December meeting summary

    COZforex: For the past trading session, the USD marginally rose against the JPY and closed at 113.24.

    In the Asian session, the pair is trading at 113.16, with the USD trading 0.07% lower against the JPY from yesterday’s close.

    According to the Bank of Japan’s latest summary of opinions report, some board members urged for a discussion over raising interest rates or lowering purchases of exchange-traded funds in response to the improving economic fundamentals in the Japanese economy.

    On the macro front, Japan’s seasonally adjusted retail trade climbed 1.9% in November, compared to a revised fall of 0.1% in the prior month. Market participants had anticipated the retail trade to advance 0.7%. Moreover, the nation’s large retailers’ sales rebounded 1.4% in November, beating market expectations for an increase of 1.0% and compared to a drop of 0.7% in the preceding month.

    Other data revealed that Japan’s preliminary industrial production grew 0.6% on a monthly basis in November, topping market consensus for an advance of 0.5%. In the previous month, industrial production had risen 0.5%.

    In technical analysis, COZFX strategist Nigel Boynton said: USD/JPY is expected to find support at 113.07 and a fall through could take it to the next support level of 112.99; Meanwhile, the pair is expected to find its first resistance at 113.31, and a rise through could take it to the next resistance level of 113.47.

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


    (COZ forex UK)

  8. #87
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    COZfx: Swiss Franc trading marginally lower this morning

    COZforex: For the past trading session, the USD declined 0.21% against the CHF and closed at 0.9721.

    In the Asian session, the pair is trading at 0.9723, with the USD trading a tad higher against the CHF from yesterday’s close.

    In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: USD/CHF is expected to find support at 0.9702 and a fall through could take it to the next support level of 0.9681; Meanwhile, the pair is expected to find its first resistance at 0.9742, and a rise through could take it to the next resistance level of 0.9761.

    Ahead in the day, traders would keep a close watch on Switzerland’s real retail sales for November and SVME–PMI for December.

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


    (COZ forex UK)

  9. #88
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    COZfx: Loonie extends its gains, ahead of Canada’s existing home sales data

    COZforex: For the past trading session, the USD declined 0.3% against the CAD and closed at 1.2485.

    On the macro front, Canada’s Teranet/National Bank house price index rebounded 0.2% on a monthly basis in December. In the previous month, the index had recorded a fall of 0.5%.

    In the Asian session, the pair is trading at 1.2452, with the USD trading 0.26% lower against the CAD from Friday’s close.

    In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: USD/CAD is expected to find support at 1.2408 and a fall through could take it to the next support level of 1.2364; Meanwhile, the pair is expected to find its first resistance at 1.2526, and a rise through could take it to the next resistance level of 1.2600.

    Ahead in the day, market participants would look forward to Canada’s existing home sales data for December.

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


    (COZ forex UK)

  10. #89
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    COZfx: Aussie trading higher in the Asian session

    COZforex: For the past trading session, the AUD rose 0.6% against the USD and closed at 0.8006.

    In commodities, LME Copper prices traded flat to close at $7047.0/MT; Meanwhile, Aluminium prices rose 1.7% or $38.0/MT to $2225.0/MT.

    Yesterday, data showed that in China, Australia’s largest trading partner, gross domestic product climbed more-than-anticipated by 6.8% on an annual basis in the fourth quarter of 2017, compared to market expectations for a rise of 6.7%. GDP had registered a similar rise in the prior quarter.

    Other data revealed that the nation’s industrial production climbed 6.2% YoY in December, topping market expectations for a rise of 6.1%. In the prior month, industrial production had risen 6.1%. Meanwhile, the nation’s retail sales rose less-than-anticipated by 9.4% on a yearly basis in December, after recording a rise of 10.2% in the previous month, while investors were anticipating for a gain of 10.2%.

    In technical analysis, COZFX strategist Nigel Boynton said: AUD/USD is expected to find support at 0.7969 and a fall through could take it to the next support level of 0.7923; Meanwhile, the pair is expected to find its first resistance at 0.8041, and a rise through could take it to the next resistance level of 0.8067.

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

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


    (COZ forex UK)

  11. #90
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    COZfx: Euro-zone’s services sector growth notched a more than 10-year high in January

    COZforex: For the past trading session, the EUR rose 0.84% against the USD and closed at 1.2400, after latest data confirmed that economic growth across the Euro-zone continued its staggering rate of expansion in the new year.

    The Euro-zone’s preliminary Markit services PMI registered an unexpected rise to a level of 57.6 in January, rising at its fastest pace since August 2007. The PMI had recorded a level of 56.6 in the previous month, while markets had expected for a fall to a level of 56.4. On the other hand, the region’s flash Markit manufacturing PMI eased more-than-estimated to a level of 59.6 in January, after posting a record high reading of 60.6 in the prior month. Market anticipation was for the PMI to ease to a level of 60.3.

    Separately, activity in Germany’s services sector surprisingly jumped to a level of 57.0 in January, accelerating at its quickest pace since March 2011. The PMI had registered a level of 55.8 in the prior month, while investors had envisaged for a drop to a level of 55.5. On the contrary, growth in the nation’s manufacturing sector slowed to a 3-month low level of 61.2 in January, compared to market expectations for a fall to a level of 63.0 and following a level of 63.3 in the previous month.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: EUR/USD is expected to find support at 1.2341 and a fall through could take it to the next support level of 1.2251; Meanwhile, the pair is expected to find its first resistance at 1.2480, and a rise through could take it to the next resistance level of 1.2529.

    Moving ahead, all eyes would be on the European Central Bank’s interest rate decision, scheduled later in the day. Also, Germany’s GfK consumer confidence for February as well as the Ifo business climate and expectations indices for January, will keep investors on their toes.


    (COZ forex UK)

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