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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)

  2. #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)

  3. #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)

  4. #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)

  5. #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)

  6. #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)

  7. #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)

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