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  1. #171
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    COZFX: Australia’s AIG performance of manufacturing index climbed in July

    COZforex: For the past trading session, the AUD declined 0.37% against the USD and closed at 0.6849.

    In commodities, LME Copper prices declined 0.3% or $17.0/MT to $5926.0/MT; Meanwhile, Aluminum prices declined 0.3% or $5.0/MT to $1776.5/MT.

    In the Asian session (at GMT0300), the pair is trading at 0.6852, with the AUD trading slightly higher against the USD from yesterday’s close.

    Overnight data showed that Australia’s AIG performance of manufacturing index jumped to a level of 51.3 in July, following a reading of 49.4 in the prior month. Moreover, the CBA manufacturing PMI rose to a level of 51.6 in July, compared to a reading of 51.4 in the prior month.

    Meanwhile, in China, Australia’s largest trading partner, the Caixin manufacturing PMI climbed more-than-expected to 49.90 in July, compared to a reading of 49.40 in the previous month.

    In technical analysis, COZFX strategist Nigel Boynton said: AUD/USD is expected to find support at 0.6820 and a fall through could take it to the next support level of 0.6789; Meanwhile, the pair is expected to find its first resistance at 0.6891, and a rise through could take it to the next resistance level of 0.6931.

    Going forward, traders would await Australia’s producer price index for the second quarter and retail sales for June, scheduled to release overnight.

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


    (COZ forex UK)

  2. #172
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    COZFX: UK’s construction PMI rose less than market forecast in July

    COZFOREX: For the past trading session, the GBP rose 0.24% against the USD and closed at 1.2152 on Friday.

    Data showed that UK’s construction PMI rose to a level of 45.3 in July, less than market consensus for a rise to a level of 46.0. In the prior month, the PMI had recorded a reading of 43.1.

    In the Asian session (at GMT0300), the pair is trading at 1.2147, with the GBP trading slightly lower against the USD from Friday’s close.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: GBP/USD is expected to find support at 1.2096 and a fall through could take it to the next support level of 1.2045; Meanwhile, the pair is expected to find its first resistance at 1.2193, and a rise through could take it to the next resistance level of 1.2239.

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

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


    (COZ forex UK)

  3. #173
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    COZFX: Switzerland’s unemployment rate remained steady in July

    COZFOREX: For the past trading session, the USD declined 0.13% against the CHF and closed at 0.9728 on Friday.

    On the data front, Switzerland’s seasonally adjusted unemployment rate remained unchanged at 2.3% in July, meeting market expectations.

    In the Asian session (at GMT0300), the pair is trading at 0.9720, with the USD trading 0.08% lower against the CHF from Friday’s close.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: USD/CHF is expected to find support at 0.9702 and a fall through could take it to the next support level of 0.9683; Meanwhile, the pair is expected to find its first resistance at 0.9746, and a rise through could take it to the next resistance level of 0.9773.

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


    (COZ FOREX UK)

  4. #174
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    COZFX: Japan’s industrial production fell less than market expectations in June

    COZFOREX: For the past trading session, the USD declined 0.80% against the JPY and closed at 105.83.

    In the Asian session (at GMT0300), the pair is trading at 105.91, with the USD trading 0.09% higher against the JPY from yesterday’s close.

    Overnight data showed that Japan’s final industrial production declined 3.8% on an annual basis in June, less than market consensus for a drop of 4.1%. In the previous month, industrial production had recorded a fall of 4.1%.

    In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: USD/JPY is expected to find support at 105.51 and a fall through could take it to the next support level of 105.10; Meanwhile, the pair is expected to find its first resistance at 106.47, and a rise through could take it to the next resistance level of 107.03.

    The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.


    (COZ forex UK)

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