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  1. #71
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    COZfx: Canada’s building permits plunged in August, housing starts declined in September

    COZforex: For the past trading session, the USD declined 0.3% against the CAD and closed at 1.2517.

    On the economic front, Canada’s building permits declined more-than-anticipated by 5.5% on a monthly basis in August, easing for the second straight month and compared to a revised drop of 2.8% in the previous month. Market anticipation was for building permits to drop 1.0%. Further, the nation’s seasonally adjusted housing starts dropped to a level of 217.1K in September, compared to market consensus for a fall to a level of 212.0K. Housing starts had recorded a reading of 223.2K in the previous month.

    In the Asian session, the pair is trading at 1.2515, with the USD trading a tad 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 1.2490 and a fall through could take it to the next support level of 1.2464; Meanwhile, the pair is expected to find its first resistance at 1.2535, and a rise through could take it to the next resistance level of 1.2554.

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


    (COZ forex UK)

  • #72
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    COZfx: Officials in no rush to hike interest rates, still worried about household debt: RBA minutes

    COZforex: For the past trading session, the AUD declined 0.3% against the USD and closed at 0.7848.

    In commodities, LME Copper prices rose 3.0% or $205.0/MT to $7063.0/MT; Meanwhile, Aluminium prices rose 0.2% or $4.0/MT to $2144.0/MT.

    In the Asian session, the pair is trading at 0.7851, with the AUD trading slightly higher against the USD from yesterday’s close.

    According to minutes of the Reserve Bank of Australia’s October meeting, policymakers held the view that any change in monetary policy would be dependent on domestic economic conditions and not on moves by central banks elsewhere. The central bank reiterated that low interest rates would continue in order to support the Australian economy. Moreover, officials noted that household debt levels remain elevated and need careful monitoring.

    In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: AUD/USD is expected to find support at 0.7828 and a fall through could take it to the next support level of 0.7804; Meanwhile, the pair is expected to find its first resistance at 0.7882, and a rise through could take it to the next resistance level of 0.7912.

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


    (COZ forex UK)

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