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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)

  • #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)

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