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  • Adam Lee replied to a discussion, Cozgroup Daily Discussion
    COZFX: Australia’s unemployment rate climbed in March

    COZforex: For the past trading session, the AUD rose 0.14% against the USD and closed at 0.7174.

    In commodities, LME Copper prices rose...
    COZFX: Australia’s unemployment rate climbed in March

    COZforex: For the past trading session, the AUD rose 0.14% against the USD and closed at 0.7174.

    In commodities, LME Copper prices rose 0.8% or $49.0/MT to $6509.0/MT; Meanwhile, Aluminium prices rose 0.1% or $1.5/MT to $1840.5/MT.

    In the Asian session (at GMT0300), the pair is trading at 0.7182, with the AUD trading 0.11% higher against the USD from yesterday’s close.

    Overnight data showed that Australia’s seasonally adjusted unemployment rate climbed to 5.0% in March, at par with market expectations. In the preceding month, unemployment rate had registered a rate of 4.9%. Meanwhile, the nation’s NAB business confidence index slid to a level of -1.0 in 1Q 2019, following a reading of 1.0 in the prior quarter.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: AUD/USD is expected to find support at 0.7161 and a fall through could take it to the next support level of 0.7139; Meanwhile, the pair is expected to find its first resistance at 0.7205, and a rise through could take it to the next resistance level of 0.7227.

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


    (COZ forex UK)
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  • Adam Lee replied to a discussion, Cozgroup Daily Discussion
    COZFX: Crude oil trading flat in the Asian session

    COZforex: For the past trading session, Crude Oil rose 0.36% against the USD and closed at USD64.37 per barrel.

    Meanwhile, the Energy...
    COZFX: Crude oil trading flat in the Asian session

    COZforex: For the past trading session, Crude Oil rose 0.36% against the USD and closed at USD64.37 per barrel.

    Meanwhile, the Energy Information Administration (EIA) report indicated that US crude oil stockpiles rose 7.03 million barrels to 456.6 million barrels in the week ended 05 April 2019.

    In the Asian session (at GMT0300), the pair is trading at 64.37, 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 64.05 and a fall through could take it to the next support level of 63.72; Meanwhile, the pair is expected to find its first resistance at 64.70, and a rise through could take it to the next resistance level of 65.02.

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


    (COZ forex UK)
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  • Adam Lee replied to a discussion, Cozgroup Daily Discussion
    COZFX: Crude oil trading flat in the Asian session

    COZforex: For the past trading session, Crude Oil rose 0.36% against the USD and closed at USD64.37 per barrel.

    Meanwhile, the Energy...
    COZFX: Crude oil trading flat in the Asian session

    COZforex: For the past trading session, Crude Oil rose 0.36% against the USD and closed at USD64.37 per barrel.

    Meanwhile, the Energy Information Administration (EIA) report indicated that US crude oil stockpiles rose 7.03 million barrels to 456.6 million barrels in the week ended 05 April 2019.

    In the Asian session (at GMT0300), the pair is trading at 64.37, 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 64.05 and a fall through could take it to the next support level of 63.72; Meanwhile, the pair is expected to find its first resistance at 64.70, and a rise through could take it to the next resistance level of 65.02.

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


    (COZ forex UK)
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  • Adam Lee replied to a discussion, Cozgroup Daily Discussion
    COZFX: Germany’s factory orders unexpectedly declined to a two-year low level in February

    COZforex: For the past trading session, the EUR declined 0.19% against the USD and closed at 1.1222, on...
    COZFX: Germany’s factory orders unexpectedly declined to a two-year low level in February

    COZforex: For the past trading session, the EUR declined 0.19% against the USD and closed at 1.1222, on the back of dismal German factory orders data.

    Data showed that Germany’s seasonally adjusted factory orders unexpectedly declined to a two-year low level of 4.2% on a monthly basis in February, amid a slump in foreign demand and defying market consensus for a gain of 0.3%. In the preceding month, factory orders had recorded a drop of 2.6%.

    Meanwhile, the nation’s construction PMI advanced to a level of 55.6 in March, following a reading of 54.7 in the previous month.

    In the US, data showed that seasonally adjusted initial jobless claims surprisingly fell to a level of 202.0K in the week ended 30 March 2019, hitting its lowest level in almost 50 years and confounding market expectations for a rise to a level of 215.0K. In the prior week, initial jobless claims had recorded a revised level of 212.0K.

    In the Asian session (at GMT0300), the pair is trading at 1.1225, 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 1.1205 and a fall through could take it to the next support level of 1.1184; Meanwhile, the pair is expected to find its first resistance at 1.1247, and a rise through could take it to the next resistance level of 1.1268.

    Going ahead, traders would await Germany’s industrial production for February, set to release in a few hours. Later in the day, the US non-farm payrolls, unemployment rate and average hourly earnings, all for March, will pique significant amount of investors’ attention.

    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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  • Adam Lee replied to a discussion, Cozgroup Daily Discussion
    COZFX: Loonie trading on a stronger footing this morning

    COZforex: For the past trading session, the USD declined 0.54% against the CAD and closed at 1.3363 on Friday.

    The Canadian dollar...
    COZFX: Loonie trading on a stronger footing this morning

    COZforex: For the past trading session, the USD declined 0.54% against the CAD and closed at 1.3363 on Friday.

    The Canadian dollar rose against the US dollar, following stronger than expected growth in Canada’s gross domestic product.

    In economic news, Canada’s GDP climbed more than market consensus by 0.3% on a monthly basis in January, amid growth in construction and manufacturing sectors. In the previous month, GDP had recorded a drop of 0.1%.

    In the Asian session (at GMT0300), the pair is trading at 1.3345, with the USD trading 0.13% lower against the CAD from Friday’s close.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/CAD is expected to find support at 1.3310 and a fall through could take it to the next support level of 1.3276; Meanwhile, the pair is expected to find its first resistance at 1.3411, and a rise through could take it to the next resistance level of 1.3478.

    Looking forward, investors would keep a close watch on Canada’s leading indicator for February and the RBC manufacturing PMI for March, scheduled to release later in the day.

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


    (COZ forex UK)
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