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  • Adam Lee replied to a discussion, Cozgroup Daily Discussion
    COZFX: Yellow metal reverses its gains in the morning session

    COZFOREX: For the past trading session, Gold rose 0.23% against the USD and closed at USD1532.10 per ounce, amid rising fears over...
    COZFX: Yellow metal reverses its gains in the morning session

    COZFOREX: For the past trading session, Gold rose 0.23% against the USD and closed at USD1532.10 per ounce, amid rising fears over slowdown in global economic growth and uncertainty about US-China trade deal.

    In the Asian session (at GMT0300), the pair is trading at 1529.20, with gold trading 0.19% lower against the USD from yesterday’s close.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: Gold is expected to find support at 1518.80 and a fall through could take it to the next support level of 1508.40; Meanwhile, the gold is expected to find its first resistance at 1539.10, and a rise through could take it to the next resistance level of 1549.00.

    The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.


    (COZ forex UK)
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  • Adam Lee replied to a discussion, Cozgroup Daily Discussion
    COZFX: Crude oil trading higher, ahead of API’s weekly crude oil stockpiles data

    COZFOREX: For the past trading session, crude oil rose 0.94% against the USD and closed at USD54.76 per barrel,...
    COZFX: Crude oil trading higher, ahead of API’s weekly crude oil stockpiles data

    COZFOREX: For the past trading session, crude oil rose 0.94% against the USD and closed at USD54.76 per barrel, amid possibilities of OPEC led output cut and reduction in Saudi Arabian shipments.

    In the Asian session (at GMT0300), the pair is trading at 54.84, with oil trading 0.15% 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 53.86 and a fall through could take it to the next support level of 52.88; Meanwhile, the oil is expected to find its first resistance at 55.50, and a rise through could take it to the next resistance level of 56.16.

    Crude oil is trading above 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: Loonie extends its losses in the Asian session

    COZforex: For the past trading session, the USD rose 0.55% against the CAD and closed at 1.3284.

    In the Asian session (at GMT0300), the...
    COZFX: Loonie extends its losses in the Asian session

    COZforex: For the past trading session, the USD rose 0.55% against the CAD and closed at 1.3284.

    In the Asian session (at GMT0300), the pair is trading at 1.3301, with the USD trading 0.13% 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 1.3223 and a fall through could take it to the next support level of 1.3146; Meanwhile, the pair is expected to find its first resistance at 1.3342, and a rise through could take it to the next resistance level of 1.3384.

    Looking ahead, traders would await Canada’s Ivey Purchasing Managers’ Index for July, scheduled to release later in the day.

    The currency pair is trading above 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: BoE kept its interest rate steady at 0.75%

    COZforex: For the past trading session, the GBP declined 0.29% against the USD and closed at 1.2123.

    The Bank of England, in its latest...
    COZFX: BoE kept its interest rate steady at 0.75%

    COZforex: For the past trading session, the GBP declined 0.29% against the USD and closed at 1.2123.

    The Bank of England, in its latest monetary policy meeting, decided to leave its key interest rate steady at 0.75%, as widely expected and indicated that the policymakers are in no rush for a near-term move in monetary policy. Further, the central bank slashed its growth forecast to 1.3% for both 2019 and 2020 from 1.5% and 1.6%, respectively, citing concerns over global economic slowdown.

    In economic news, UK’s manufacturing PMI remained steady at a 6.5-year low level of 48.0 in July, defying market expectations for a drop to a a level of 47.6.

    In the Asian session (at GMT0300), the pair is trading at 1.2106, with the GBP trading 0.14% lower against the USD from yesterday’s close.

    In technical analysis, COZFX strategist Nigel Boynton said: GBP/USD is expected to find support at 1.2067 and a fall through could take it to the next support level of 1.2028; Meanwhile, the pair is expected to find its first resistance at 1.2158, and a rise through could take it to the next resistance level of 1.2211.

    Overnight data showed that UK’s Lloyds Bank business barometer remained unchanged at 13.0% in July.

    Going ahead, traders would await UK’s RICS house price balance, Markit/CIPS services PMI, trade balance data, industrial production, gross domestic product and the Halifax house price index, all set to release next week.


    (COZ forex UK)
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  • Adam Lee replied to a discussion, Cozgroup Daily Discussion
    COZFX: Japan’s retail trade advanced in June

    COZFOREX: For the past trading session, the USD slightly rose against the JPY and closed at 108.69 on Friday.

    In the Asian session (at GMT0300),...
    COZFX: Japan’s retail trade advanced in June

    COZFOREX: For the past trading session, the USD slightly rose against the JPY and closed at 108.69 on Friday.

    In the Asian session (at GMT0300), the pair is trading at 108.52, with the USD trading 0.16% lower against the JPY from Friday’s close.

    Overnight data showed that Japan’s retail trade rose 0.5% on an annual basis in June, following an advance of 1.2% in the prior month. Meanwhile, the nation’s large retailer’s sales declined 0.5% on a monthly basis in June, compared to a similar fall in the prior month.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/JPY is expected to find support at 108.35 and a fall through could take it to the next support level of 108.18; Meanwhile, the pair is expected to find its first resistance at 108.76, and a rise through could take it to the next resistance level of 109.00.

    Looking forward, traders would await the Bank of Japan’s interest rate decision followed by Japan’s jobless rate and industrial production for June, slated to release overnight.

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


    (COZ forex UK)
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