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  1. #141
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    COZfx: Euro-zone’s unemployment rate declined to its lowest level in 10-years in November

    COZforex: For the past trading session, the EUR rose 0.86% against the USD and closed at 1.1552.

    On macro front, the Euro-zone’s unemployment rate unexpectedly tumbled to decade low level of 7.9% in November, compared to a revised reading of 8.0% in the prior month. Market participants had envisaged the unemployment rate to advance to 8.1%.

    Separately, in Germany, the seasonally adjusted trade surplus widened to €19.0 billion in November, more than market expectations for a surplus of €18.0 billion. In the previous month, the nation had posted a revised surplus of €17.9 billion.

    In the US, data indicated that the US mortgage applications rebounded 23.5% on a weekly basis in the week ended 04 January 2019, following a decline of 8.5% in the preceding week.

    The minutes of the FOMC December monetary policy meeting showed that policymakers would remain patient on further interest rate increases, due to volatility in financial markets and concerns over global economic growth. Further, the officials expressed uncertainty over the timing of future rate increases. Additionally, the Fed lowered its interest rate projection for 2019 to two from three.

    In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1479 and a fall through could take it to the next support level of 1.1394; Meanwhile, the pair is expected to find its first resistance at 1.1610, and a rise through could take it to the next resistance level of 1.1656.

    Amid lack of macroeconomic releases in the Euro-zone today, traders would keep an eye on the US initial jobless claims along with the Federal Reserve Chairman, Jerome Powell’s speech, due later in the day.

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


    (COZ forex UK)

  2. #142
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    COZfx: Australia’s Westpac leading index eased in December

    COZforex: For the past trading session, the AUD declined 0.36% against the USD and closed at 0.7124.

    In commodities, LME Copper prices declined 0.4% or $25.0/MT to $5926.5/MT; Meanwhile, Aluminium prices rose 1.4% or $25.0/MT to $1867.5/MT.

    In the Asian session (at GMT0400), the pair is trading at 0.7136, with the AUD trading 0.17% higher against the USD from yesterday’s close.

    Overnight data revealed that Australia’s Westpac leading index slid 0.21% on a monthly basis in December, following a decline of 0.09% in the prior month.

    In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: AUD/USD is expected to find support at 0.7118 and a fall through could take it to the next support level of 0.7100; Meanwhile, the pair is expected to find its first resistance at 0.7152, and a rise through could take it to the next resistance level of 0.7168.

    Looking ahead, investors would await Australia’s CBA manufacturing and services PMI’s for January, scheduled to release overnight.

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


    (COZ forex UK)

  3. #143
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    COZfx: Swiss Franc trading a tad higher in the Asian session

    COZforex: For the past trading session, the USD slightly declined against the CHF and closed at 0.9920.

    In economic news, Switzerland’s total sight deposits slightly rose to a level of CHF576.7 billion in the week ended 25 January, from CHF576.3 billion in the previous week.

    In the Asian session (at GMT0400), the pair is trading at 0.9916, with the USD trading marginally lower 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 0.9903 and a fall through could take it to the next support level of 0.9891; Meanwhile, the pair is expected to find its first resistance at 0.9931, and a rise through could take it to the next resistance level of 0.9947.

    Trading trend in the Swiss Franc today is expected to be determined by Switzerland’s trade balance data for December, scheduled to release in a while.

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


    (COZ forex UK)

  4. #144
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    COZFX: UK’s economic growth slowed to a six-year low level in 4Q 2018

    COZ forex: For the past trading session, the GBP declined 0.57% against the USD and closed at 1.2858 amid a slew of disappointing economic data.

    On the macro front, UK’s preliminary gross domestic product growth slowed to a six-year low level of 0.2% on a quarterly basis in 4Q 2018, compared to market expectations for a rise of 0.3%. GDP had recorded a climb of 0.6% in the previous quarter. Moreover, the nation’s manufacturing production eased 2.1% on an annual basis in December, compared to a revised fall of 1.2% in the preceding month. Markets had anticipated manufacturing production to record a fall of 1.1%.

    Additionally, industrial production declined 0.9% on a yearly basis in December, more than market expectations for a drop of 0.5% and following a revised fall of 1.3% in the prior month. Also, UK’s construction output unexpectedly dropped 2.4% on an annual basis in December, defying market expectations for a rise of 1.5%. Construction output had registered a revised rise of 1.8% in the previous month. Further, visible trade deficit narrowed to £12.10 billion in December, compared to a revised visible trade deficit of £12.40 billion in the prior month.

    In the Asian session, the pair is trading at 1.2864, with the GBP trading 0.05% higher against the USD from yesterday’s close.

    In technical analysis, COZFX strategist Nigel Boynton said: GBP/USD is expected to find support at 1.2826 and a fall through could take it to the next support level of 1.2789; Meanwhile, the pair is expected to find its first resistance at 1.2920, and a rise through could take it to the next resistance level of 1.2977.

    With no macroeconomic releases in UK today, investors would look forward to global macroeconomic releases for further directions.

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


    (COZ forex UK)

  5. #145
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    COZFX: Japan’s machinery orders dropped to a 10-year low level in December

    COZforex: For the past trading session, the USD slightly declined against the JPY and closed at 110.44 on Friday.

    In the Asian session (at GMT0400), the pair is trading at 110.50, with the USD trading 0.05% higher against the JPY from Friday’s close.

    Overnight data indicated that Japan’s machinery orders declined to its lowest level in 10-years by 0.1% on a monthly basis in December, weighed down by global trade conflicts and following a steady reading in the preceding month.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/JPY is expected to find support at 110.29 and a fall through could take it to the next support level of 110.08; Meanwhile, the pair is expected to find its first resistance at 110.68, and a rise through could take it to the next resistance level of 110.86.

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


    (COZ forex UK)

  6. #146
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    COZFX: Loonie extends its losses in the morning session

    COZforex: For the past trading session, the USD rose 0.44% against the CAD and closed at 1.3233.

    The Canadian dollar declined against the US dollar, following Bank of Canada’s Governor, Stephen Poloz’s comments.

    Yesterday, the BoC Governor, Stephen Poloz, stated that the central bank was in no rush to resume monetary tightening and expressed uncertainty over the pace of future rate hikes. He cautioned that given the high levels of debt, raising rates would impact the overall economy more than in the past.

    In the Asian session (at GMT0400), the pair is trading at 1.3235, with the USD trading marginally higher against the CAD from yesterday’s close.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/CAD is expected to find support at 1.3185 and a fall through could take it to the next support level of 1.3134; Meanwhile, the pair is expected to find its first resistance at 1.3264, and a rise through could take it to the next resistance level of 1.3292.

    Trading trend in the Loonie today, is expected to be determined by Canada’s retail sales for December, scheduled to release later in the day.

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


    (COZ forex UK)

  7. #147
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    COZFX: Crude oil trading lower in the Asian session

    COZforex: For the past trading session, Crude Oil rose 1.82% against the USD and closed at USD56.96 per barrel, after Saudi Arabia reiterated its decision of reducing output. Additionally, the Energy Information Administration (EIA) report indicated that US crude oil stockpiles declined by 8.6 million barrels to 445.87 million in the week ended 22 February 2019.

    In the Asian session (at GMT0400), the pair is trading at 56.92, with oil trading 0.07% 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 55.96 and a fall through could take it to the next support level of 55.01; Meanwhile, the oil is expected to find its first resistance at 57.63, and a rise through could take it to the next resistance level of 58.35.

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


    (COZ forex UK)

  8. #148
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    COZfx: Euro trading on a weaker footing this morning

    COZforex: For the past trading session, the EUR declined 0.31% against the USD and closed at 1.1302.

    On the macro front, Euro-zone’s seasonally adjusted retail sales advanced at its fastest pace in three months by 2.2% on an annual basis in January, driven by robust internet sales and beating market expectations for a rise of 2.1%. In the prior month, retail sales recorded a revised gain of 0.3% in the previous month. Additionally, the final services PMI climbed to a level of 52.8 in February, notching its highest level in three months and surpassing market expectations for a rise to a level of 52.3. In the previous month, the services PMI had recorded a level of 51.2. The preliminary figures had indicated an advance to 52.3.

    Separately, in Germany, the final services PMI advanced to a 5-month high level of 55.3 in February, overshooting market forecast for a rise to 55.1 and compared to a level of 53.0 in the previous month. The preliminary figures had indicated a rise to 55.1.

    The US Dollar rose against its major peers yesterday, on the back of upbeat US economic data.

    Data showed that the US ISM non-manufacturing index climbed to 59.7 in February, more than market forecast for an increase to 57.3. The index had registered a reading of 56.7 in the previous month. Moreover, new home sales unexpectedly rose 3.7% to a level of 621.0K on a monthly basis in December, compared to a revised reading of 599.0K in the previous month. Meanwhile, the final Markit services PMI rose to 56.0 in February, compared to market expectations of a rise to a level of 56.2. The preliminary figures had recorded an advance to 56.2. In the previous month, the services PMI had recorded a revised reading of 54.2.

    In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1276 and a fall through could take it to the next support level of 1.1259; Meanwhile, the pair is expected to find its first resistance at 1.1325, and a rise through could take it to the next resistance level of 1.1357.

    Going forward, investors would keep an eye on the Eurozone’s OECD interim economic outlook along with Germany’s Markit construction PMI for February, slated to release in a few hours. Later in the day, the US trade balance for December and the ADP employment change for February, will keep investors on the toes. Additionally, the Federal Reserve’s Beige Book release, due later today, will garner significant amount of investor attention.


    (COZ forex UK)

  9. #149
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    COZfx: Australia’s NAB business confidence and business conditions index fell in February

    COZforex: For the past trading session, the AUD rose 0.57% against the USD and closed at 0.7074.

    In commodities, LME Copper prices declined 0.6% or $36.5/MT to $6435.0/MT; Meanwhile, Aluminium prices rose/declined 1.0% or $18.0/MT to $1830.0/MT.

    In the Asian session (at GMT0400), the pair is trading at 0.7072, with the AUD trading slightly lower against the USD from yesterday’s close.

    Overnight data showed that Australia’s NAB business confidence index declined to a level of 2.0 in February, compared to a reading of 4.0 in the previous month. Moreover, the nation’s business conditions index eased to a level of 4.0 in February, following a level of 7.0 in the prior month. Additionally, new home loan approvals fell 1.2% on a monthly basis in January, less than market expectations. In the previous month, home loan approvals had recorded a revised drop of 8.0%.

    In technical analysis, COZFX strategist Nigel Boynton said: AUD/USD is expected to find support at 0.7043 and a fall through could take it to the next support level of 0.7014; Meanwhile, the pair is expected to find its first resistance at 0.7091, and a rise through could take it to the next resistance level of 0.7110.

    Moving ahead, traders would keep an eye on Australia’s Westpac consumer confidence index for March, slated to release overnight.

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


    (COZ forex UK)

  10. #150
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    COZFX: Switzerland’s producer and import price declined in February

    COZforex: For the past trading session, the USD rose 0.06% against the CHF and closed at 1.0037.

    On macro front, Switzerland’s producer and import price index eased 0.7% on a yearly basis in February, less than market expectations for a drop of 1.0%. The index had recorded a decline of 0.5% in the prior month.

    In the Asian session (at GMT0400), the pair is trading at 1.0026, with the USD trading 0.11% lower 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 1.0013 and a fall through could take it to the next support level of 0.9999; Meanwhile, the pair is expected to find its first resistance at 1.0046, and a rise through could take it to the next resistance level of 1.0065.

    Looking forward, investors would keep an eye on Switzerland’s trade balance data, set 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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