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  1. #101
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    COZfx: Japan’s economy on a moderate growth path, inflation accelerated recently: BoJ Kuroda

    COZforex: For the past trading session, the USD declined 0.36% against the JPY and closed at 106.82.

    In the Asian session, the pair is trading at 106.89, with the USD trading 0.07% higher against the JPY from yesterday’s close.

    Earlier today, the Bank of Japan Governor, Haruhiko Kuroda, reiterated his optimistic view on meeting the central bank’s 2.0% inflation target, but stuck to his pledge of maintaining the central bank’s massive stimulus programme.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: USD/JPY is expected to find support at 106.65 and a fall through could take it to the next support level of 106.40; Meanwhile, the pair is expected to find its first resistance at 107.14, and a rise through could take it to the next resistance level of 107.38.

    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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  3. #102
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    COZfx: German investor morale deteriorated to a more than 5-year low in April

    COZforex: For the past trading session, the EUR declined 0.08% against the USD and closed at 1.2372 as the latest data offered further evidence of a decline in investor optimism across the Euro-zone.

    Data indicated that the Euro-zone’s ZEW economic sentiment index eased to a level of 1.9 in April. In the previous month, the index had recorded a level of 13.4.

    Separately, Germany’s ZEW economic sentiment index declined to a level of -8.2 in April, marking its weakest reading since November 2012, as concerns over international trade disputes as well as tensions in Syria weighed on investor morale. In the previous month, the index had recorded a reading of 5.1, while market participants had expected for a fall to a level of -1.0. Moreover, the nation’s ZEW current situation index dropped to a level of 87.9 in April, more than market consensus for a fall to a level of 88.0. The index had registered a level of 90.7 in the previous month.

    The greenback advanced against its major peers, as a slew of upbeat economic releases in the US underlined strength in the world’s largest economy.

    Data revealed that housing starts in the US unexpectedly climbed 1.9% on monthly basis, to an annual rate of 1319.0K in March, confounding market expectations for a fall to a level of 1267.0K and aided by a rebound in the construction of multi-family homes. Housing starts had registered a revised reading of 1295.0K in the prior month.

    In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.2339 and a fall through could take it to the next support level of 1.2299; Meanwhile, the pair is expected to find its first resistance at 1.2417, and a rise through could take it to the next resistance level of 1.2455.

    Going ahead, investors would focus on Euro-zone’s final inflation figures for March and construction output data for February, both due to release in a few hours. Later in the day, the release of the US Federal Reserve’s Beige Book report, will garner significant amount of investor attention.


    (COZ forex UK)

  4. #103
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    COZfx: Aussie trading on a stronger footing in the morning session

    COZforex: For the past trading session, the AUD declined 0.86% against the USD and closed at 0.7605.

    LME Copper prices declined 0.23% or $16.0/MT to $6923.0/MT; Meanwhile, Aluminium prices declined 0.45% or $11.0/MT to $2452.0/MT.

    In the Asian session, the pair is trading at 0.7612, with the AUD trading 0.09% higher against the USD from yesterday’s close.

    Overnight data revealed that Australia’s consumer price index advanced less-than-anticipated by 0.4% on a quarterly basis in the first three months of 2018, compared to a rise of 0.6% in the prior quarter. Markets were anticipating the CPI to climb 0.5%.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: AUD/USD is expected to find support at 0.7567 and a fall through could take it to the next support level of 0.7522; Meanwhile, the pair is expected to find its first resistance at 0.7670, and a rise through could take it to the next resistance level of 0.7728.

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


    (COZ forex UK)

  5. #104
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    COZfx: RBA keeps key interest rate steady at 1.50%

    COZforex: For the past trading session, the AUD declined 0.58% against the USD and closed at 0.7529.

    LME Copper prices declined 0.21% or $14.0/MT to $6783.0/MT; Meanwhile, Aluminium prices declined 1.11% or $25.0/MT to $2224.0/MT.

    In the Asian session, the pair is trading at 0.7541, with the AUD trading 0.16% higher against the USD from yesterday’s close.

    Earlier today, the Reserve Bank of Australia, at its May monetary policy meeting, opted to keep the benchmark interest rate steady at 1.50%, meeting market expectations.
    Separately, overnight data indicated that Australia’s AiG performance of manufacturing index dropped to a level of 58.3 in April, compared to a reading of 63.1 in the previous month.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: AUD/USD is expected to find support at 0.7519 and a fall through could take it to the next support level of 0.7498; Meanwhile, the pair is expected to find its first resistance at 0.7568, and a rise through could take it to the next resistance level of 0.7596.

    Going ahead, traders would closely monitor a speech by the RBA Governor, Philip Lowe, due in a few hours.

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


    (COZ forex UK)

  6. #105
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    COZfx: Canada’s international merchandise trade deficit unexpectedly widened in March

    COZforex: For the past trading session, the USD declined 0.20% against the CAD and closed at 1.2852.

    On the macro front, Canada’s international merchandise trade deficit surprisingly widened to C$4.14 billion in March, compared to a revised deficit of C$2.93 billion in the previous month, while markets were expecting the nation’s international merchandise trade deficit to narrow to C$2.25 billion.

    In the Asian session, the pair is trading at 1.2846, with the USD trading 0.05% lower 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 1.2806 and a fall through could take it to the next support level of 1.2765; Meanwhile, the pair is expected to find its first resistance at 1.2898, and a rise through could take it to the next resistance level of 1.2949.
    The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.


    (COZ forex UK)

  7. #106
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    COZfx: Swiss Franc trading flat this morning

    COZforex: For the past trading session, the USD rose 0.16% against the CHF and closed at 1.0004.

    Macroeconomic data indicated that Switzerland’s total sight deposits inched up to a level of CHF576.2 billion in the week ended 11 May, from CHF575.9 billion in the previous week.

    In the Asian session, the pair is trading at 1.0004, with the USD trading flat against the CHF from yesterday’s close.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: USD/CHF is expected to find support at 0.9970 and a fall through could take it to the next support level of 0.9936; Meanwhile, the pair is expected to find its first resistance at 1.0026, and a rise through could take it to the next resistance level of 1.0048.
    Ahead in the day, Switzerland’s producer and import prices data for April, will be on investors’ radar.

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


    (COZ forex UK)

  8. #107
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    COZfx: Japan’s adjusted merchandise trade surplus surprisingly widened in April

    COZforex: For the past trading session, the USD declined 0.08% against the JPY and closed at 110.72 on Friday.

    In the Asian session, the pair is trading at 111.09, with the USD trading 0.33% higher against the JPY from Friday’s close.

    Data released overnight showed that Japan’s adjusted merchandise trade surplus unexpectedly widened to ¥550.0 billion in April, defying market consensus for it to narrow to ¥114.9 billion. In the preceding month, the nation had recorded an adjusted merchandise trade surplus of ¥170.0 billion.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/JPY is expected to find support at 110.76 and a fall through could take it to the next support level of 110.43; Meanwhile, the pair is expected to find its first resistance at 111.27, and a rise through could take it to the next resistance level of 111.45.

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


    (COZ forex UK)

  9. #108
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    COZfx: Germany’s economy expanded as initially estimated in 1Q 2018

    COZforex: For the past trading session, the EUR rose 0.12% against the USD and closed at 1.1721, after data indicated that Germany’s seasonally adjusted final gross domestic product rose 0.3% on a quarterly basis in the first quarter of 2018, confirming the preliminary figures. In the prior quarter, GDP had risen 0.6%.

    On the contrary, the nation’s Gfk consumer confidence index unexpectedly declined to a level of 10.7 in June, confounding market expectations for it to remain steady at 10.8.

    The US Dollar declined against its key peers, after the US President, Donald Trump cancelled a North Korean nuclear summit, thus reigniting fears over trade war.

    Macroeconomic data showed that first time claims for the US unemployment benefits unexpectedly climbed to a 7-week high level of 234.0K in the week ended 19 May, compared to a revised reading of 223.0K in the previous week. Markets were anticipating initial jobless claims to ease to 220.0K. Moreover, the nation’s existing home sales eased 2.5% on a monthly basis, to a level of 5.46 million in April, declining for the first time in three months. Existing home sales had registered a level of 5.60 million in the previous month, while markets were expecting for a fall to a level of 5.50 million.

    In technical analysis, COZFX strategist Nigel Boynton said: GBP/USD is expected to find support at 1.1683 and a fall through could take it to the next support level of 1.1657; Meanwhile, the pair is expected to find its first resistance at 1.1742, and a rise through could take it to the next resistance level of 1.1775.

    Looking forward, traders would focus on Germany’s Ifo business climate and expectations indices for May, slated to release in a few hours. Additionally, the US flash durable goods orders for April and the final Michigan consumer sentiment index for May, both due to release later in the day would garner significant amount of market attention. Moreover, a speech by the Federal Reserve Chair, Jerome Powell, will be eyed by market participants.


    (COZ forex UK)

  10. #109
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    COZfx: Oil extends its losses in the Asian session, ahead of Baker Hughes weekly rig count data

    COZforex: For the past trading session, Crude Oil declined 1.53% against the USD and closed at USD67.10 per barrel, after the Energy Information Administration (EIA) reported that US crude production jumped to a record high of 10.47 million bpd in March.

    Nevertheless, the EIA report also indicated that US crude oil stockpiles decreased 3.6 million barrels to 434.5 million barrels in the week ended 25 May.

    In the Asian session, the pair is trading at 66.94, with oil trading 0.24% lower against the USD from yesterday’s close.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: The crude oil is expected to find support at 66.26 and a fall through could take it to the next support level of 65.58; Meanwhile, the pair is expected to find its first resistance at 67.92, and a rise through could take it to the next resistance level of 68.90.

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


    (COZ forex UK)

  11. #110
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    COZfx: Australia’s trade surplus narrowed more than estimated in May

    COZforex: For the past trading session, the AUD rose 0.59% against the USD and closed at 0.7664.

    LME Copper prices declined/rose 2.52% or $176.0/MT to $7147.0/MT; Meanwhile, Aluminium prices rose 0.13% or $3.0/MT to $2317.5/MT.

    In the Asian session, the pair is trading at 0.7650, with the AUD trading 0.18% lower against the USD from yesterday’s close.

    Overnight data indicated that Australia’s AIG performance of construction index declined to a level of 54.0 in May, compared to a reading of 55.40 in the previous month.
    Moreover, the nation’s seasonally adjusted trade surplus narrowed to AUD977.0 million in May, from a revised trade surplus of AUD1731.0 million in the prior month. Market participants had envisaged trade surplus to fall to AUD1000.0 million.

    The pair is expected to find support at 0.7634, and a fall through could take it to the next support level of 0.7617. The pair is expected to find its first resistance at 0.7672, and a rise through could take it to the next resistance level of 0.7693.

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


    (COZ forex UK)

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