forex software

Create and Test Forex Strategies

forex software

Skip to forum content

Forex Forum

Forex Software, Forex Strategies, Expert Advisors Generator

You are not logged in. Please login or register.


(Page 11 of 13)

Forex Forum → Market Analysis → Daily market news by Cozfx

Pages Previous 1 9 10 11 12 13 Next

You must login or register to post a reply

RSS topic feed

Posts: 251 to 275 of 323

Re: Daily market news by Cozfx

COZfx: Australia’s economy grows at fastest pace in nearly two years

COZforex: For the past trading session, the AUD declined 0.51% against the USD and closed at 0.7613.

In commodities, LME Copper prices rose 0.52% or $36.0/MT to $6971/MT; Meanwhile, Aluminium prices declined 0.43% or $10.0/MT to $2314.5/MT.

In the Asian session, the pair is trading at 0.7652, with the AUD trading 0.51% higher against the USD from yesterday’s close, after Australia’s first quarter economic growth came in better-than-expected.

Earlier in the session, data showed that Australia’s seasonally adjusted gross domestic product advanced 1.0% in the first quarter of 2018, driven by exports of mining commodities and compared to a revised rise of 0.5% in the prior quarter. Market participants had expected the GDP to rise by 0.9%.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: AUD/USD is expected to find support at 0.761 and a fall through could take it to the next support level of 0.7567; Meanwhile, the pair is expected to find its first resistance at 0.768, and a rise through could take it to the next resistance level of 0.7707.

Moving ahead, traders would closely monitor Australia’s trade balance data for April, set to be released early morning tomorrow. Also, the nation’s AiG performance construction for May, due to be released overnight, will garner significant amount of investor attention.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Japanese yen trading on a weaker footing this morning

COZforex: For the past trading session, the USD rose 0.66% against the JPY and closed at 110.17.

On the data front, Japan’s flash machine tool orders advanced 14.9% on a yearly basis in May, following a rise 22.0% in the previous month.

In the Asian session, the pair is trading at 110.22, with the USD trading 0.05% higher against the JPY from yesterday’s close.

In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: USD/JPY is expected to find support at 109.60 and a fall through could take it to the next support level of 108.97; Meanwhile, the pair is expected to find its first resistance at 110.67, and a rise through could take it to the next resistance level of 111.11.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Euro trading on a negative footing this morning

COZforex: For the past trading session, the EUR declined 0.28% against the USD and closed at 1.1589.

On the economic front, Euro-zone’s seasonally adjusted current account surplus narrowed more than expected to €28.4 billion in April, compared to a surplus of €32.0 billion in the prior month and marking its lowest level since June 2017. Markets were expecting trade surplus to narrow to £30.3 billion. Meanwhile, the region’s seasonally adjusted construction output unexpectedly rose 1.8% on a monthly basis in April, after recording a revised fall of 0.2% in the previous month.

Macroeconomic data released in the US indicated that housing starts jumped 5.0% on a monthly basis, to an annual rate of 1350.0K in May, hitting a 11-year high level and more than market consensus for a rise to a level of 1311.0K. Housing starts had recorded a revised reading of 1286.0K in the previous month. Also, the nation’s building permits fell by 4.6% on a monthly basis, to an annual rate of 1301.0K in May, compared to a revised reading of 1364.0 K in the prior month and marking its lowest level since September 2017. Market anticipation was for building permits to fall to a level of 1350.0 K.

In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1526 and a fall through could take it to the next support level of 1.1472; Meanwhile, the pair is expected to find its first resistance at 1.1640, and a rise through could take it to the next resistance level of 1.1700.

Moving ahead, investors would look forward to Germany’s producer price index for May scheduled to release in a few hours. Moreover, the US MBA mortgage applications followed by existing homes sales data for May, set to release later in the day, will be on investors’ radar.


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Loonie trading slightly lower this morning

COZforex: For the past trading session, the USD remained flat against the CAD and closed at 1.3292.

In the Asian session, the pair is trading at 1.3295, with the USD trading marginally higher 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 1.3270 and a fall through could take it to the next support level of 1.3244; Meanwhile, the pair is expected to find its first resistance at 1.3323, and a rise through could take it to the next resistance level of 1.3350.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Oil trading lower in the Asian session, amid rising Saudi output

COZforex: For the past trading session, Crude Oil rose 1.35% against the USD and closed at USD74.29 per barrel on Friday, amid concerns that US sanctions against Iran would reduce a substantial volume of crude oil from world markets.

Moreover, fresh figures from Baker Hughes disclosed that the number of active oil rigs in the US dropped by 4 to 858 in the week ended 27 June.

In the Asian session, the pair is trading at 73.23, with oil trading 1.43% lower against the USD from Friday’s close, after Saudi king assured President, Donald Trump that he can raise oil output if needed.

In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: The crude oil is expected to find support at 72.69 and a fall through could take it to the next support level of 72.14; Meanwhile, the pair is expected to find its first resistance at 74.12, and a rise through could take it to the next resistance level of 75.00.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: BoE Governor, Mark Carney optimistic on August rate hike

COZforex: For the past trading session, the GBP declined 0.05% against the USD and closed at 1.3223.

The Bank of England Governor, Mark Carney expressed optimism over the nation’s growth and added that the economic slowdown was temporary. Further, he boosted hopes for a rate hike in the next month, justifying that softness of UK activity in the first quarter was largely due to bad weather conditions and not the economic climate.

In the Asian session, the pair is trading at 1.3213, with the GBP trading 0.08% lower against the USD from yesterday’s close.

In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: GBP/USD is expected to find support at 1.3186 and a fall through could take it to the next support level of 1.3160; Meanwhile, the pair is expected to find its first resistance at 1.3257, and a rise through could take it to the next resistance level of 1.3302.

Moving ahead, investors will closely monitor UK’s Halifax house price for June, set to be released in a while.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Swiss Franc trading a tad lower in the morning session

COZforex: For the past trading session, the USD rose 0.34% against the CHF and closed at 0.9957.

In the Asian session (GMT0300), the pair is trading at 0.9958, with the USD trading marginally higher 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 0.9920 and a fall through could take it to the next support level of 0.9882; Meanwhile, the pair is expected to find its first resistance at 0.9981, and a rise through could take it to the next resistance level of 1.0004.

With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic factors for further direction.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Aussie trading higher in the morning session

COZforex: For the past trading session, the AUD declined 0.50% against the USD and closed at 0.7381.

In commodities, LME Copper prices declined 0.02% or $1.5/MT to $6141.5/MT; Aluminium prices declined 0.94% or $20.0/MT to $2110.0/MT.

In the Asian session (GMT0300), the pair is trading at 0.7386, with the AUD trading 0.07% higher against the USD from yesterday’s close.

Overnight data showed that Australia’s Westpac leading index rose 0.01% on a monthly basis in June, after registering a revised drop of 0.23% in the previous month.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: AUD/USD is expected to find support at 0.7362 and a fall through could take it to the next support level of 0.7338; Meanwhile, the pair is expected to find its first resistance at 0.7424, and a rise through could take it to the next resistance level of 0.7462.

Looking forward, investors will keep an eye on Australia’s unemployment rate for June and the NAB business confidence for Q2, slated to release overnight.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Japan’s machinery orders declined sharply at its fastest pace in six months in June

COZforex: For the past trading session, the USD declined 0.42% against the JPY and closed at 110.90.

In the Asian session (GMT0300), the pair is trading at 110.79, with the USD trading 0.10% lower against the JPY from yesterday’s close.

Overnight data showed that Japan’s machinery orders plunged 8.8% on a monthly basis in June, more than market expectations for a decline of 1.0% and hitting its largest fall since December 2017. In the previous month, machinery orders had dropped 3.7%. Meanwhile, the nation’s housing loans advanced 2.7% on yearly basis in Q2 2018, after registering a similar rise in the prior quarter.

In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: USD/JPY is expected to find support at 110.54 and a fall through could take it to the next support level of 110.28; Meanwhile, the pair is expected to find its first resistance at 111.22, and a rise through could take it to the next resistance level of 111.64.

Moving ahead, traders would await Japan’s gross domestic product data for Q2, set to release overnight.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Euro-zone’s 2Q GDP growth revised higher from the initial estimate

COZforex: For the past trading session, the EUR declined 0.50% against the USD and closed at 1.1349.

Data indicated that the Euro-zone’s seasonally adjusted flash gross domestic product advanced 0.4% on a quarterly basis in 2Q 2018, more than the initial estimate of 0.3% and beating market expectations for a rise of 0.3%. In the previous quarter, GDP had recorded a similar rise. On the other hand, the region’s seasonally adjusted industrial production retreated 0.7% on a monthly basis in June, driven by a collapse in machinery and equipment investment and more than market expectations for a drop of 0.4%. In the prior month, industrial production had recorded a revised climb of 1.4%. Meanwhile, the economic sentiment index improved to -11.1 in August, compared to a reading of -18.7 in the prior month.

Separately, in Germany, seasonally adjusted preliminary gross domestic product rose 0.5% on a quarterly basis in 2Q 2018, driven by consumption and state spending and beating market expectations for a rise of 0.4%. In the prior quarter, GDP had recorded a revised rise of 0.4%. Moreover, the nation’s final consumer price index climbed 2.0% on an annual basis in July, in line with market expectations and confirming the preliminary print. In the previous month, the consumer price index had climbed 2.1%.

Additionally, in Germany, the ZEW economic sentiment index surged to a level of -13.7 in August, compared to a level of -24.7 in the prior month. Further, the current situation index unexpectedly rose to a level of 72.6 in August, defying market expectations for a fall to a level of 72.1.

In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1290 and a fall through could take it to the next support level of 1.1256; Meanwhile, the pair is expected to find its first resistance at 1.1394, and a rise through could take it to the next resistance level of 1.1464.


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Canada’s retail sales declined in June, at par with market expectations

COZforex: For the past trading session, the USD declined 0.36% against the CAD and closed at 1.2994.

Macroeconomic news indicated that, Canada’s retail sales eased 0.2% on a monthly basis in June, in line with market expectations and compared to a revised advance of 2.2% in the prior month.

In the Asian session (at GMT0300), the pair is trading at 1.3044, with the USD trading 0.38% higher against the CAD from yesterday’s close.

In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: USD/CAD is expected to find support at 1.3005 and a fall through could take it to the next support level of 1.2967; Meanwhile, the pair is expected to find its first resistance at 1.3064, and a rise through could take it to the next resistance level of 1.3085.

Amid lack of economic releases in Canada today, traders would focus on global macroeconomic events for further direction.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Oil trading flat in the Asian session

COZforex: For the past trading session, Crude Oil declined 0.61% against the USD and closed at USD68.57 per barrel, after the American Petroleum Institute (API) reported that US crude oil inventories increased by 38.0K barrels to 405.7 million barrels in the week ended 24 August.

In the Asian session (at GMT0300), the pair is trading at 68.57, with oil trading flat 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 68.12 and a fall through could take it to the next support level of 67.67; Meanwhile, the pair is expected to find its first resistance at 69.11, and a rise through could take it to the next resistance level of 69.65.

Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: UK construction sector growth declined to a 3-month low in August

COZforex: For the past trading session, the GBP declined 0.12% against the USD and closed at 1.2857, after Britain’s construction PMI fell more than expected in August.

Data revealed that UK’s construction PMI declined to 52.9 in August, notching its lowest level in three months and more than market forecast for a fall to a level of 54.9. In the previous month, the PMI had recorded a reading of 55.8.

In the Asian session, the pair is trading at 1.2867, with the GBP trading 0.08% higher against the USD from yesterday’s close, after the Bank of England Governor, Mark Carney indicated that he would stay on the central bank board beyond his planned June 2019 departure to ensure a smooth Brexit. Additionally, he indicated that he would do “whatever he could” to promote both a smooth Brexit and an effective transition at the central bank.

In technical analysis, COZFX strategist Nigel Boynton said: GBP/USD is expected to find support at 1.2828 and a fall through could take it to the next support level of 1.2790; Meanwhile, the pair is expected to find its first resistance at 1.2888, and a rise through could take it to the next resistance level of 1.2910.

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

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Swiss Franc trading on a stronger footing in the Asian session

COZforex: For the past trading session, the USD declined 0.26% against the CHF and closed at 0.9701.

In the Asian session (at GMT0300), the pair is trading at 0.9693, with the USD trading 0.08% 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 0.9673 and a fall through could take it to the next support level of 0.9654; Meanwhile, the pair is expected to find its first resistance at 0.9731, and a rise through could take it to the next resistance level of 0.9770.

Looking forward, traders would await Switzerland’ producer and import prices for August, set to release in a while.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: SECO upgraded Switzerland’s economic growth forecast for 2018

COZforex: For the past trading session, the USD rose 0.37% against the CHF and closed at 0.9675.

Yesterday, the State Secretariat for Economic Affairs, in its quarterly economic forecasts report, raised Switzerland’s 2018 growth outlook to its highest level since 2010 to 2.9% higher than its earlier projection in June. However, the agency cited concerns over escalating global risks like trade dispute between the US, Italy’s anti-establishment government and Britain’s departure from the European Union.

In the Asian session (at GMT0300), the pair is trading at 0.9670, with the USD trading 0.05% lower against the CHF from yesterday’s close.

In technical analysis, COZFX strategist Nigel Boynton said: USD/CHF is expected to find support at 0.9636 and a fall through could take it to the next support level of 0.9602; Meanwhile, the pair is expected to find its first resistance at 0.9702, and a rise through could take it to the next resistance level of 0.9734.

Looking forward, investors would keep an eye on the Swiss National Bank’s (SNB) interest rate decision for September followed by trade balance data for August, both slated to release in a while.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Aussie reverses its losses in the morning session

COZforex: For the past trading session, the AUD marginally declined against the USD and closed at 0.7249.

In commodities, LME Copper prices declined 0.7% or $44.0/MT to $6276.0/MT; Meanwhile, Aluminium prices declined 0.7% or $15.0/MT to $2020.0/MT.

In the Asian session (at GMT0300), the pair is trading at 0.7277, with the AUD trading 0.39% higher against the USD from yesterday’s close.

In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: AUD/USD is expected to find support at 0.7248 and a fall through could take it to the next support level of 0.7218; Meanwhile, the pair is expected to find its first resistance at 0.7295, and a rise through could take it to the next resistance level of 0.7312.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Crude oil trading higher, ahead of EIA’s weekly crude oil inventories data

COZforex: For the past trading session, Crude Oil declined 0.37% against the USD and closed at USD75.20 per barrel, after the American Petroleum Institute (API) reported that US crude oil inventories rose by 0.9 million barrels to 403.3 million barrels in the week ended 28 September.

In the Asian session (at GMT0300), the pair is trading at 75.22, with oil trading a tad higher 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 74.79 and a fall through could take it to the next support level of 74.37; Meanwhile, the pair is expected to find its first resistance at 75.78, and a rise through could take it to the next resistance level of 76.33.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Euro-zone’s Sentix investor confidence index fell more-than-estimated in October

COZforex: For the past trading session, the EUR declined 0.22% against the USD and closed at 1.1492, amid looming concerns over Italy’s budget deficit.

On the data front, Euro-zone’s Sentix investor confidence index dropped to a level of 11.4 in October, amid uncertainties over Italy’s policy stance and more than market consensus for a fall to a level of 11.6. In the prior month, the index had registered a reading of 12.0.

Additionally, in Germany, seasonally adjusted industrial production unexpectedly eased 0.3% on a monthly basis in August, falling for the third consecutive month, driven by losses in the construction sector. In the previous month, industrial production had declined 1.1%, while market participants had envisaged to record a gain of 0.3%.

In the Asian session, the pair is trading at 1.1493, with the EUR trading marginally higher against the USD from yesterday’s close.

In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1462 and a fall through could take it to the next support level of 1.1431; Meanwhile, the pair is expected to find its first resistance at 1.1522, and a rise through could take it to the next resistance level of 1.1551.

Looking ahead, traders would await Germany’s trade balance data for August set to release in a while. Additionally, the US NFIB small business optimism index for September, scheduled to release later in the day, will pique significant amount of investor attention.


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Japan’s industrial production downwardly revised in August

COZforex: For the past trading session, the USD rose 0.11% against the JPY and closed at 112.22 on Friday.

In the Asian session (at GMT0300), the pair is trading at 112.11, with the USD trading 0.10% lower against the JPY from Friday’s close.

Overnight data showed that Japan’s final industrial production was downwardly revised by 0.2% on an annual basis in August, compare to a rise of 2.2% in the prior month. The preliminary figures had recorded a climb of 0.6%.

In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: USD/JPY is expected to find support at 111.83 and a fall through could take it to the next support level of 111.54; Meanwhile, the pair is expected to find its first resistance at 112.45, and a rise through could take it to the next resistance level of 112.78.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Loonie trading lower this morning

COZforex: For the past trading session, the USD rose 0.44% against the CAD and closed at 1.3081.

In the Asian session (at GMT0300), the pair is trading at 1.3065, with the USD trading 0.12% 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 1.3027 and a fall through could take it to the next support level of 1.2988; Meanwhile, the pair is expected to find its first resistance at 1.3096, and a rise through could take it to the next resistance level of 1.3126.

Trading trend in the Loonie today is expected to be determined by Canada’s retail sales for August and the consumer price index figures for September, both slated to release later in the day.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: UK’s factory orders declined at its fastest pace in three-years in October

COZforex: For the past trading session, the GBP rose 0.12% against the USD and closed at 1.2983.

Data indicated that UK’s business optimism climbed 16.0% in 4Q 2018, as compared to a decline of 3.0% in the prior quarter. Market participants had envisaged a fall of 4.0%.

On the other hand, CBI total trends orders unexpectedly eased at its fastest pace in three-years to a level of -6.0 in October, compared to market consensus for an advance to a level of 2.0. In the preceding month, the total trends orders had recorded a level of -1.0.

In the Asian session, the pair is trading at 1.2979, with the GBP trading slightly lower against the USD from yesterday’s close.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: GBP/USD is expected to find support at 1.2929 and a fall through could take it to the next support level of 1.2880; Meanwhile, the pair is expected to find its first resistance at 1.3036, and a rise through could take it to the next resistance level of 1.3094.

Trading trend in the Sterling today is expected to be determined by the release UK’s BBA mortgage applications for September, scheduled to release in a while.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Switzerland’s total sight deposits rose to a level of CHF578.0 billion

COZforex: For the past trading session, the USD rose 0.33% against the CHF and closed at 1.0018.

In economic news, Switzerland’s total sight deposits rose to a level of CHF578.0 billion in the week ended 26 October, from CHF577.9 billion in the previous week.

In the Asian session (at GMT0400), the pair is trading at 1.0021, with the USD trading slightly higher 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 0.9989 and a fall through could take it to the next support level of 0.9957; Meanwhile, the pair is expected to find its first resistance at 1.0039, and a rise through could take it to the next resistance level of 1.0057.

Going ahead, traders would keep an eye on Switzerland’s KOF leading indicator for October, due to be released in a while.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: RBA kept its benchmark interest rates unchanged at 1.50%

COZforex: For the past trading session, the AUD rose 0.42% against the USD and closed at 0.7215.

In commodities, LME Copper prices declined 0.3% or $16.0/MT to $6239.0/MT; Meanwhile, Aluminium prices rose/declined 0.4% or $8.0/MT to $1959.0/MT.

In the Asian session (at GMT0400), the pair is trading at 0.7211, with the AUD trading 0.06% lower against the USD from yesterday’s close.

The Reserve Bank of Australia, in its November monetary policy meeting, opted to leave its interest rate unchanged at 1.50%, as widely expected, amid sluggish wage growth and weak domestic spending.

In technical analysis, COZFX strategist Nigel Boynton said: AUD/USD is expected to find support at 0.7189 and a fall through could take it to the next support level of 0.7168; Meanwhile, the pair is expected to find its first resistance at 0.7226, and a rise through could take it to the next resistance level of 0.7242.

Moving forward, investors would await Australia’s AiG performance of construction index for October, slated to release later in the day.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Crude oil trading on a positive footing in the morning session

COZforex: For the past trading session, Crude Oil declined 0.92% against the USD and closed at USD60.19 per barrel on Friday, amid growing concerns over rising output and economic slowdown. Additionally, fresh figures from Baker Hughes disclosed that the number of active oil rigs climbed by 12 rigs to 886, in the week ended 09 November, recording its biggest increase since the week ended 25 May 2018.

In the Asian session (at GMT0400), the pair is trading at 60.78, with oil trading 0.98% higher 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 59.75 and a fall through could take it to the next support level of 58.71; Meanwhile, the pair is expected to find its first resistance at 61.33, and a rise through could take it to the next resistance level of 61.87.

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


(COZ forex UK)

Re: Daily market news by Cozfx

COZfx: Euro-zone’s trade surplus narrowed in September

COZforex: For the past trading session, the EUR rose 0.07% against the USD and closed at 1.1324.

In the economic news, the Euro-zone’s seasonally adjusted trade surplus narrowed to €13.4 billion in September, compared to a revised surplus of €16.8 billion in the prior month. Market participants had expected the nation to post a surplus of €16.3 billion.

In the US, data showed that the US NY Empire State manufacturing index unexpectedly advanced to a level of 23.3 in November, defying market consensus for a fall to a level of 20.0. In the previous month, the index had recorded a reading of 21.1. Moreover, the nation’s advance retail sales rebounded 0.8% on a monthly basis in October, rising by the most in five months and following a revised drop of 0.1% in the prior month. Markets were anticipating advance retail sales to climb 0.5%. Moreover, business inventories climbed 0.3% on a monthly basis in September, meeting market consensus. In the previous month, business inventories had recorded a gain of 0.5%.

On the other hand, the nation’s Philadelphia Fed manufacturing index declined to a level of 12.9 in November, more than market expectations for a fall to a level of 20.0. The index had registered a level of 22.2 in the preceding month. Additionally, the US seasonally adjusted initial jobless claims surprisingly increased to a level of 216.0K in the week ended 10 November 2018, confounding market expectations for a drop to a level of 213.0K. In the preceding week, initial jobless claims had registered a level of 214.0K.

In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1283 and a fall through could take it to the next support level of 1.1232; Meanwhile, the pair is expected to find its first resistance at 1.1374, and a rise through could take it to the next resistance level of 1.1414.

Going ahead, investors would closely monitor the European Central Bank President, Mario Draghi’s speech followed by the Euro-zone’s consumer price index for October, due in a few hours. Later in the day, the US industrial production and manufacturing production, both for October, will keep traders on their toes.


(COZ forex UK)

Posts: 251 to 275 of 323

Pages Previous 1 9 10 11 12 13 Next

You must login or register to post a reply

Forex Forum → Market Analysis → Daily market news by Cozfx

Similar topics in this forum