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COZfx: Canadian dollar hits fresh 4-week highs

COZforex: The Canadian dollar rose to fresh 4 week highs against its broadly weaker US counterpart on Tuesday, boosted by higher prices for oil and robust domestic data.

USD/CAD was down 0.3% to 1.3462 by 09.30 ET, its lowest trough since April 24.

The price of oil, a major Canadian export pushed higher amid hopes that major producers will extend supply cuts for a prolonged period later this week, amid efforts to reduce a global supply glut.

The loonie received an additional boost after data showing that the value of Canadian wholesale trade grew by 0.9% in March, hitting a record high.

The increase was mainly due to increased demand for building materials and supplies, Statistics Canada said.
The greenback was struggling near six-month lows against a currency basket as expectations for fiscal stimulus under the Trump administration faded amid political turmoil in Washington.

Recent weeks have seen a steady stream of revelations surrounding the FBI’s investigation into alleged Russian interference in November’s presidential election and reports that President Donald Trump attempted to interfere with the judicial process.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last at 96.83, not far from Monday’s six-month trough of 96.83.


(COZ forex UK)
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COZfx: Oil trading on a weaker footing this morning

COZforex: For the past trading session, Crude Oil rose 0.63% against the USD and closed at USD70.65 per barrel on Friday, as strike actions in Norway and Iraq hit supplies.

Separately, fresh figures from Baker Hughes disclosed that the number of active US oil rigs remained steady at 863 in the week ended 13 July 2018.

In the Asian session (GMT0300), the pair is trading at 70.62, with oil trading a tad lower against the USD from Friday’s close, as worries over supply disruptions faded and Libyan ports resumed export activities.

In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: The crude oil is expected to find support at 69.75 and a fall through could take it to the next support level of 68.89; Meanwhile, the pair is expected to find its first resistance at 71.57, and a rise through could take it to the next resistance level of 72.53.

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


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COZfx: Sterling trading a tad higher in the Asian session

COZforex: For the past trading session, the GBP declined 0.36% against the USD and closed at 1.3249, following the resignation of two key UK officials namely Foreign Secretary, Boris Johnson and Brexit Minister, David Davis.

In the Asian session, the pair is trading at 1.3253, with the GBP trading slightly higher against the USD 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 1.3174 and a fall through could take it to the next support level of 1.3096; Meanwhile, the pair is expected to find its first resistance at 1.3347, and a rise through could take it to the next resistance level of 1.3442.

Looking forward, traders would keep an eye on UK’s trade balance data, industrial production, manufacturing production and construction output, all for May, slated to release in a few hours. Also, the nation’s NIESR gross domestic product estimate will keep investors on their toes.

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


(COZ forex UK)
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COZfx: Canada’s manufacturing activity jumps at its fastest pace in past 7-years in June

COZforex: For the past trading session, the USD declined 0.32% against the CAD and closed at 1.3144.

Data showed that Canada’s manufacturing activity jumped to a level of 57.1 in June, hitting a seven-year high level since inception of the survey. In the previous month, the PMI had registered a level of 56.2.

In the Asian session, the pair is trading at 1.3125, with the USD trading 0.14% lower against the CAD from yesterday’s close.

In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: USD/CAD is expected to find support at 1.3090 and a fall through could take it to the next support level of 1.3054; Meanwhile, the pair is expected to find its first resistance at 1.3183, and a rise through could take it to the next resistance level of 1.3240.

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


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COZfx: Japan’s retail trade retreated at its fastest pace in 21-months in May

COZforex: For the past trading session, the USD rose 0.16% against the JPY and closed at 110.24.

In the Asian session, the pair is trading at 110.17, with the USD trading 0.06% lower against the JPY from yesterday’s close.

Overnight data showed that Japan’s retail trade retreated by 1.7% on a monthly basis in May, declining at its fastest pace in 21 months and higher than market expectations for a fall of 0.8%. In the previous month, retail trade had climbed 1.4%. Additionally, the nation’s large retailer’s sales fell 2.0% on a monthly basis in May. In the prior month, large retailer’s sales had declined of 0.8%.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/JPY is expected to find support at 109.74 and a fall through could take it to the next support level of 109.32; Meanwhile, the pair is expected to find its first resistance at 110.54, and a rise through could take it to the next resistance level of 110.92.

Going forward, traders would await Japan’s flash industrial production and jobless rate, both for May, set to release overnight.

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


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COZfx: SNB kept key interest rates unchanged at -0.75%

COZforex: For the past trading session, the USD declined 0.46% against the CHF and closed at 0.9915.

Yesterday, the Swiss National Bank, at its March monetary policy meeting, held its benchmark interest rate unchanged at -0.75%, as widely expected. In its policy statement, the central bank pointed to loose policy over longer term. Meanwhile, the SNB lowered its medium-term forecast for Swiss inflation.

On the macro front, Switzerland’s trade surplus widened to a level of CHF2.76 billion in May. The nation had posted a revised surplus of CHF2.25 billion in the prior month.

In the Asian session, the pair is trading at 0.9912, with the USD trading a tad lower 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 0.9877 and a fall through could take it to the next support level of 0.9843; Meanwhile, the pair is expected to find its first resistance at 0.9966, and a rise through could take it to the next resistance level of 1.0021.

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


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COZfx: Aussie trading a tad lower in the morning session

COZforex: For the past trading session, the AUD declined 0.24% against the USD and closed at 0.7444 on Friday.

In commodities, LME Copper prices declined 0.81% or $58.0/MT to $7139.0/MT; Meanwhile, Aluminium prices declined 1.67% or $38.0/MT to $2239.5/MT.

In the Asian session, the pair is trading at 0.7442, with the AUD trading marginally lower against the USD from Friday’s close.

In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: AUD/USD is expected to find support at 0.7419 and a fall through could take it to the next support level of 0.7395; Meanwhile, the pair is expected to find its first resistance at 0.7473, and a rise through could take it to the next resistance level of 0.7503.

Going ahead, investors would closely monitor Australia’s 1Q house price index and the Reserve Bank of Australia’s June meeting minutes, slated to release overnight.

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


(COZ forex UK)
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  1. more than a month ago
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COZfx: Euro-zone’s economy expanded as initially estimated in 1Q 2018

COZforex: For the past trading session, the EUR rose 0.14% against the USD and closed at 1.1798.

Data indicated that the Euro-zone’s seasonally adjusted final gross domestic product rose 0.4% on a quarterly basis in the first three months of 2018, in line with market expectations. The preliminary figures had also indicated a rise of 0.4%. In the prior quarter, GDP had expanded 0.6%.

Meanwhile, in Germany, the seasonally adjusted factory orders unexpectedly fell 2.5% on a monthly basis in April, due to a decline in domestic orders and defying market expectations for a rise of 0.8%. Factory orders had dropped by a revised 1.1% in the previous month.

In the US, data revealed that that the number of Americans filing for fresh unemployment benefits dropped slightly to a level of 222.0K in the week ended 02 June, hitting a 4-week low level and compared to market expectations for a drop to a level of 220.0K. Initial jobless claims had registered a revised level of 223.0K in the prior week.

Other data showed that, the nation’s consumer credit climbed $9.3 billion in April, less than market forecast for a rise of $14.0 billion. In the prior month, consumer credit had climbed by a revised $12.3 billion.

In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1776 and a fall through could take it to the next support level of 1.1753; Meanwhile, the pair is expected to find its first resistance at 1.1831, and a rise through could take it to the next resistance level of 1.1863.

Amid lack of major macroeconomic releases in the Eurozone today, investors would look forward to Germany’s trade balance and industrial production, both for April, scheduled to release in a few hours.

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


(COZ forex UK)
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  1. more than a month ago
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COZfx: Britain’s manufacturing PMI unexpectedly climbed in May

COZforex: For the past trading session, the GBP rose 0.39% against the USD and closed at 1.3349 on Friday.

In economic news, UK’s Markit manufacturing PMI sector unexpectedly rose to a level of 54.4 in May.
Markets had anticipated the index to drop to a level of 53.5. In the prior month, the PMI registered a reading of 53.9.

In the Asian session, the pair is trading at 1.337, with the GBP trading 0.16% higher against the USD from Friday’s close.

In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: USD/CHF is expected to find support at 1.3290 and a fall through could take it to the next support level of 1.3211; Meanwhile, the pair is expected to find its first resistance at 1.3413, and a rise through could take it to the next resistance level of 1.3457.

Trading trend in the Pound today is expected to be determined by UK’s construction PMI data for May, scheduled to release in a while.

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


(COZ forex UK)
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COZfx: Crude Oil trading on a weaker footing this morning

COZforex: For the past trading session, Crude Oil rose 1.32% against the USD and closed at USD66.98 per barrel.

However, gains in crude prices were limited, as investors were grappled with concerns that major oil producers such Saudi Arabia and Russia would boost crude production.

Separately, on Friday, Baker Hughes reported that the US oil rig count rose by 15 to 859 in the week ended 25 May.

In the Asian session, the pair is trading at 66.77, with oil trading 0.31% lower against the USD from yesterday’s close.

In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: The crude oil is expected to find support at 66.10 and a fall through could take it to the next support level of 65.44; Meanwhile, the oil is expected to find its first resistance at 67.33, and a rise through could take it to the next resistance level of 67.90.

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


(COZ forex UK)
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  1. more than a month ago
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free forex trading signals sms From the best free forex trading signals provider offers free USD CHF trading signals and USD JPY TRADING SIGNALS FREE LIVE




free forex trading signals sms From the best free forex trading signals provider Gold Pattern offers free currency recommendations today, which includes the recommendation to buy the dollar franc and the recommendation to buy the dollar yen

Forex Trading free forex trading signals sms And currency recommendations to buy the yen dollar
Currency recommendations on the pair Frank and the pair's recommendation to buy the pair
USD CHF
buy @ 0.9900
tp @ 0.9960
sl @ 0.9860
Why send currency recommendations today and recommend the purchase of the Frank dollar
The USD CHF formed a bearish trend in the short term from 1.0050 until the price of the USD CHF approached the level of 0.9880
In the near term, the pair formed three bearish waves and the first and last waves were equal
Which is a sign of the end of the bearish trend and the chances of a rise of the dollar pair Frank
For this reason, the free forex trading signals Forex recommendation Provider Gold Pattern recommends buying the usd chf as long as the pair is above 0.9860
Targeting the 0.9960 profit level
Daily free currency recommendations and the recommendation to buy the dollar yen

USD JPY
buy @ 109.10
tp @ 109.70
sl @ 108.70
free forex trading signals SMS and Forex Trading Recommendations today
It is preferable to buy the USD JPY pair as long as the pair trades above 108.70 with profit taking at 109.10
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