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  • Flyman7788
    Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: Canada’s manufacturing shipments climbed to an 8-month high in August

    COZforex: For the past trading session, the USD declined 0.4% against the CAD and closed at 1.2464.

    On the data...
    COZfx: Canada’s manufacturing shipments climbed to an 8-month high in August

    COZforex: For the past trading session, the USD declined 0.4% against the CAD and closed at 1.2464.

    On the data front, Canada’s manufacturing shipments surprisingly advanced 1.6% in August, rising the most in eight months and compared to a fall of 2.6% in the previous month. Investor had envisaged manufacturing shipments to drop 0.3%.

    In the Asian session, the pair is trading at 1.2471, with the USD trading 0.06% 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 1.2437 and a fall through could take it to the next support level of 1.2404; Meanwhile, the pair is expected to find its first resistance at 1.2519, and a rise through could take it to the next resistance level of 1.2568.

    Amid no macroeconomic releases in Canada today, investor sentiment would be governed by global macroeconomic factors.

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


    (COZ forex UK)
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  • Flyman7788
    Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: Higher interest rates could hurt heavily-indebted households: RBA Financial Stability Review

    COZforex: For the past trading session, the AUD rose 0.35% against the USD and closed at...
    COZfx: Higher interest rates could hurt heavily-indebted households: RBA Financial Stability Review

    COZforex: For the past trading session, the AUD rose 0.35% against the USD and closed at 0.7823.

    In commodities, LME Copper prices rose 1.9% or $128.0/MT to $6813.0/MT; Meanwhile, Aluminium prices declined 0.3% or $6.5/MT to $2117.5/MT.

    Earlier in the session, the Reserve Bank of Australia, in its twice-yearly Financial Stability Review, expressed deep concerns about the property market and warned that household borrowing is a key risk to the nation’s financial system as it could see households struggle to repay their debt.

    Separately, in China, Australia’s largest trading partner, trade surplus narrowed more-than-expected to CNY193.0 billion in September, following a surplus of CNY286.5 billion in the preceding month, while investors had envisaged for a surplus of CNY266.0 billion.

    Additionally, the nation’s annual exports increased less-than-anticipated by 9.0% in September, after recording a gain of 6.9% in the previous month. Also, the nation’s imports grew more-than-expected by 19.5% YoY in September, compared to a rise of 14.4% in the prior month.

    In technical analysis, COZFX strategist Nigel Boynton said: AUD/USD is expected to find support at 0.7812 and a fall through could take it to the next support level of 0.7787; Meanwhile, the pair is expected to find its first resistance at 0.7852, and a rise through could take it to the next resistance level of 0.7867.

    Next week, market participants would await the release of the RBA’s October meeting minutes along with Australia’s unemployment rate data.


    (COZ forex UK)
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  • Flyman7788
    Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: Britain’s Halifax house prices surprisingly advanced in September

    COZforex: For the past trading session, the GBP declined 0.37% against the USD and closed at 1.3068 on Friday, amid a...
    COZfx: Britain’s Halifax house prices surprisingly advanced in September

    COZforex: For the past trading session, the GBP declined 0.37% against the USD and closed at 1.3068 on Friday, amid a fresh bout of political uncertainty in the UK.

    On the macro front, UK’s Halifax house price index unexpectedly advanced 0.8% on a monthly basis in September, following a revised advance of 1.5% in the prior month and defying markets consensus for a flat reading.

    In the Asian session, the pair is trading at 1.3086, with the GBP trading 0.14% higher 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 1.3040 and a fall through could take it to the next support level of 1.2993; Meanwhile, the pair is expected to find its first resistance at 1.3120, and a rise through could take it to the next resistance level of 1.3153.

    Going ahead, traders will look forward to Britain’s BRC retail sales data for September, slated to release overnight.

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


    (COZ forex UK)
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  • Flyman7788
    Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: Swiss Franc trading ahead of Switzerland’s ZEW expectations data

    COZforex: For the past trading session, the USD rose 0.31% against the CHF and closed at 0.9693.

    In the Asian session,...
    COZfx: Swiss Franc trading ahead of Switzerland’s ZEW expectations data

    COZforex: For the past trading session, the USD rose 0.31% against the CHF and closed at 0.9693.

    In the Asian session, the pair is trading at 0.9704, with the USD trading 0.11% 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 0.9665 and a fall through could take it to the next support level of 0.9626; Meanwhile, the pair is expected to find its first resistance at 0.9735, and a rise through could take it to the next resistance level of 0.9766.

    Looking forward, market participants would keep a close watch on Switzerland’s ZEW expectations index for September and the UBS consumption indicator for August, slated to release in a few hours.

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


    (COZ forex UK)
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  • Flyman7788
    Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: German investor confidence sharply picked-up in September

    COZforex: For the past trading session, the EUR rose 0.32% against the USD and closed at 1.1995, after data showed that German...
    COZfx: German investor confidence sharply picked-up in September

    COZforex: For the past trading session, the EUR rose 0.32% against the USD and closed at 1.1995, after data showed that German investor morale sharply improved in September.

    Data indicated that Germany’s ZEW economic sentiment index climbed more-than-anticipated to a level of 17.0 in September, strengthening for the first time in four months, amid increased optimism among investors in the wake of strong economic growth and increased investment in the Euro-zone’s largest economy. In the previous month, the index had registered a reading of 10.0, while markets had anticipated for an advance to a level of 12.0. Additionally, the nation’s current situation index unexpectedly rose to a six-year high level of 87.9 in September, defying market consensus for a drop to a level of 86.2 and following a reading of 86.7 in the previous month.

    Separately, the Euro-zone’s ZEW economic sentiment index climbed to a level of 31.7 in September, less than market expectations for a rise to a level of 32.4 and compared to a level of 29.3 recorded in the previous month. Additionally, the region’s seasonally adjusted construction output rose 0.2% on a monthly basis in July, after recording a revised similar rise in the prior month. Moreover, the region’s seasonally adjusted current account surplus widened to a level of €25.1 billion in July, compared to a revised surplus of €22.8 billion in the prior month.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: EUR/USD is expected to find support at 1.1970 and a fall through could take it to the next support level of 1.1930; Meanwhile, the pair is expected to find its first resistance at 1.2034, and a rise through could take it to the next resistance level of 1.2058.

    Going ahead, investors will look forward to Germany’s producer price index for August, slated to release in a few hours. Later in the day, market participants will keenly await the outcome of the Federal Reserve’s (Fed) monetary policy meeting. The central bank is widely anticipated to announce plans on paring back its massive balance sheet. Also, the US existing home sales data for August, due to release later in the day, will be on investors’ radar.


    (COZ forex UK)
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