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  1. #161
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    COZFX: Canada’s Ivey PMI remained unchanged in May

    COZforex: For the past trading session, the USD declined 0.46% against the CAD and closed at 1.3361.

    Data indicated that Canada’s seasonally adjusted Ivey PMI remained steady at a level of 55.9 in May.

    In the Asian session (at GMT0300), the pair is trading at 1.3353, with the USD trading 0.06% lower against the CAD from yesterday’s close.

    In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: USD/CAD is expected to find support at 1.3325 and a fall through could take it to the next support level of 1.3297; Meanwhile, the pair is expected to find its first resistance at 1.3402, and a rise through could take it to the next resistance level of 1.3451.

    Trading trend in the Loonie today, is expected to be determined by Canada’s unemployment rate for May, set to release later in the day.

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


    (COZ forex UK)

  2. #162
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    COZFX: Crude oil trading lower, ahead of EIA’s weekly crude oil stockpiles data

    COZforex: For the past trading session, Crude Oil rose 4.08% against the USD and closed at USD54.06 per barrel, after the American Petroleum Institute (API) reported that US crude oil inventories slid by 0.8 million barrels in the week ended 14 June 2019.

    In the Asian session (at GMT0300), the pair is trading at 53.97, with oil trading 0.17% 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 52.19 and a fall through could take it to the next support level of 50.40; Meanwhile, The oil is expected to find its first resistance at 55.07, and a rise through could take it to the next resistance level of 56.16.

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


    (COZ forex UK)

  3. #163
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    COZFX: Euro-zone’s manufacturing index advanced below estimates in June

    COZforex: For the past trading session, the EUR rose 0.67% against the USD and closed at 1.1368 on Friday.

    On the macro front, the Euro-zone’s preliminary manufacturing PMI rose to a level of 47.8 in June, undershooting market consensus for a gain to a level of 48.0. In the prior month, the PMI had recorded a level of 47.7. Moreover, the region’s flash services PMI advanced to a level of 53.4 in June, more than market expectations for a rise to a level of 53.0. The PMI had recorded a level of 52.9 in the previous month.

    Separately, in Germany, the Markit preliminary manufacturing PMI climbed to a level of 45.4 in June, surpassing market anticipations for a rise to a level of 44.6. In the previous month, the PMI had registered a level of 44.3. Further, the nation’s preliminary services PMI unexpectedly jumped to a level of 55.6 in June, defying market consensus for a fall to a level of 55.2. The PMI had registered a level of 55.4 in the previous month.

    In the US data showed that the flash manufacturing PMI unexpectedly fell to a level of 50.1 in June, marking its lowest level since September 2009, amid prolonged weakness in the manufacturing and services sector. In the preceding month, the PMI had recorded a level of 50.5, while market participants had envisaged for a steady reading. Meanwhile, the nation’s flash Markit services PMI surprisingly declined to a level of 50.7 in June, defying market expectations for a gain to a level of 51.0. The PMI had registered a reading of 50.9 in the previous month. Meanwhile, the US existing home sales advanced 2.5% on monthly basis, to a level of 5.3 million in May, compared to a revised level of 5.2 million in the prior month.

    In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1317 and a fall through could take it to the next support level of 1.1248; Meanwhile, the pair is expected to find its first resistance at 1.1420, and a rise through could take it to the next resistance level of 1.1454.

    Looking ahead, traders would await Germany’s IFO survey indices for June, slated to release in a few hours. Later in the day, the US Chicago Fed National Activity Index for May and the Dallas Fed manufacturing activity for June, will garner significant amount of investor’s attention.


    (COZ forex UK)

  4. #164
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    COZFX: Australia’s private sector credit demand climbed as expected in May

    COZFOREX: For the past trading session, the AUD rose 0.27% against the USD and closed at 0.7005.

    In the Asian session (at GMT0300), the pair is trading at 0.7007, with the AUD trading marginally higher against the USD from yesterday’s close.

    Overnight data showed that Australia’s private sector credit demand rose 0.2% on a monthly basis in May, at par with market expectations and compared to a similar rise in the prior month.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: AUD/USD is expected to find support at 0.6993 and a fall through could take it to the next support level of 0.6978; Meanwhile, the pair is expected to find its first resistance at 0.7016, and a rise through could take it to the next resistance level of 0.7024.

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


    (COZ forex UK)

  5. #165
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    COZFX: UK’s construction PMI surprisingly fell to a decade low level in June

    COZFOREX: For the past trading session, the GBP declined 0.40% against the USD and closed at 1.2597, after the Bank of England’s Governor, Mark Carney signaled that the economy could lose its momentum in case of a no-deal Brexit and ongoing global trade disputes resulting into possibilities of monetary policy easing in coming months.

    In economic news, UK’s construction PMI unexpectedly declined to a decade low level of 43.1 in June, amid mounting Brexit uncertainties and defying market consensus for a gain to a level of 49.2. The PMI had recorded a reading of 48.6 in the previous month. Meanwhile, the nation’s seasonally adjusted Nationwide house price index rose 0.1% on a monthly basis in June, less than market expectations for a rise of 0.2%. In the prior month, index had registered a drop of 0.2%.

    Overnight data indicated that BRC shop price index fell 0.1% on a yearly basis in June, following an increase of 0.8% in the preceding month.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: GBP/USD is expected to find support at 1.2568 and a fall through could take it to the next support level of 1.2545; Meanwhile, the pair is expected to find its first resistance at 1.2630, and a rise through could take it to the next resistance level of 1.2669.

    Trading trend in the Sterling today is expected to be determined by UK’s Markit services PMI for June, slated to release in a few hours.


    (COZ forex UK)

  6. #166
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    COZFX: Swiss Franc trading a tad higher in the Asian session

    COZFOREX: For the past trading session, the USD rose 0.35% against the CHF and closed at 0.9942.

    In economic news, Switzerland’s total sight deposits eased to a level of CHF579.0 billion in the week ended 05 July, from CHF579.3 billion in the previous week.

    In the Asian session (at GMT0300), the pair is trading at 0.9940, with the USD trading marginally lower against the CHF from yesterday’s close.

    In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: USD/CHF is expected to find support at 0.9911 and a fall through could take it to the next support level of 0.9879; Meanwhile, the pair is expected to find its first resistance at 0.9960, and a rise through could take it to the next resistance level of 0.9979.

    Trading trend in the Swiss Franc today, is expected to be determined by Switzerland’s unemployment rate for June, scheduled to release in a while.

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


    (COZ forex UK)

  7. #167
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    COZFX: Canada’s new housing price index remained flat in May

    COZFOREX: For the past trading session, the USD declined 0.06% against the CAD and closed at 1.3068.

    Data showed that Canada’s new housing price index remained flat on an annual basis in May, defying market anticipations for a climb of 0.2%. The index had advanced 0.1% in the previous month.

    In the Asian session (at GMT0300), the pair is trading at 1.3039, with the USD trading 0.22% lower against the CAD from yesterday’s close.

    In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: USD/CAD is expected to find support at 1.3020 and a fall through could take it to the next support level of 1.3001; Meanwhile, the pair is expected to find its first resistance at 1.3075, and a rise through could take it to the next resistance level of 1.3111.

    Moving forward, traders would closely monitor Canada’s existing home sales, retail sales, manufacturing sales and consumer price index, all scheduled to release next week.

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


    (COZ forex UK)

  8. #168
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    COZFX: Japan recorded a merchandise (total) trade surplus in June

    COZFOREX: For the past trading session, the USD declined 0.27% against the JPY and closed at 107.96.

    In the Asian session (at GMT0300), the pair is trading at 107.74, with the USD trading 0.20% lower against the JPY from yesterday’s close.

    Overnight data showed that Japan posted a merchandise (total) trade surplus of ¥589.5 billion in June, following a revised deficit of ¥968.3 billion in the previous month. Markets had expected the nations to post a surplus of ¥403.5 billion.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: USD/JPY is expected to find support at 107.48 and a fall through could take it to the next support level of 107.22; Meanwhile, the pair is expected to find its first resistance at 108.16, and a rise through could take it to the next resistance level of 108.58.

    Looking ahead, investors would await Japan’s National consumer price index for June, scheduled to release overnight.

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


    (COZ forex UK)

  9. #169
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    COZFX: Crude oil trading higher, ahead of API’s weekly crude oil stockpiles data

    COZFOREX: For the past trading session, Crude Oil declined 0.12% against the USD and closed at USD56.16 per barrel, after the International Energy Agency stated that it would act quickly if needed to keep the global oil market adequately supplied.

    In the Asian session (at GMT0300), the pair is trading at 56.24, with oil trading 0.14% higher against the USD from yesterday’s close.

    In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: The crude oil is expected to find support at 55.70 and a fall through could take it to the next support level of 55.16; Meanwhile, the oil is expected to find its first resistance at 56.91, and a rise through could take it to the next resistance level of 57.58.

    Crude oil is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.


    (COZ forex UK)

  10. #170
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    COZFX: ECB left its interest rate unchanged at 0.00%; signals further stimulus

    COZforex: For the past trading session, the EUR slightly rose against the USD and closed at 1.1146.

    The European Central Bank left its benchmark interest rate unchanged at 0.00% and indicated that interest rates would remain at the current low level throughout the first half of 2020. Further, the central bank notified its plan to restart its bond-buying program in order to boost the country’s economic growth. In a statement post-meeting, the ECB President Mario Draghi, highlighted the need for significant stimulus for the euro area economy, to ensure that financial conditions remain very favourable and support the euro area expansion. Further, he stated that growth is set to slow in the second and third quarters, citing ongoing global trade tensions, and hence, a rebound in the second half of the year is less likely.

    In economic news, Germany’s Ifo business climate index fell to a level of 95.7 in July, more than market expectations for a decline to a level of 97.2. The index had registered a revised reading of 97.50 in the previous month. Moreover, the nation’s Ifo business expectations index unexpectedly slid to a decade low level of 92.2 in July, compared to a revised level of 94.0. Further, the Ifo current assessment index declined to a level of 99.4 in July, surpassing market consensus for a drop to a level of 100.4. The index had recorded a revised level of 101.1 in the previous month.

    In the US, data showed that the advance goods trade deficit narrowed to $74.20 billion in June, following a revised deficit of $75.00 billion in the prior month. Market participants had anticipated the nation to post a deficit of $72.5 billion.

    In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1104 and a fall through could take it to the next support level of 1.1060; Meanwhile, the pair is expected to find its first resistance at 1.1190, and a rise through could take it to the next resistance level of 1.1232.

    Amid lack of macroeconomic releases in the Euro-zone today, traders would keep an eye on the US annualised gross domestic product for the second quarter, set to release later in the day.


    (COZ forex UK)

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