1. Adam Lee
  2. Commercial Forum
  3. Wednesday, 24 May 2017
  4.  Subscribe via email
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)
Comment
There are no comments made yet.
Accepted Answer Pending Moderation
0
Votes
Undo
COZFX: Pound reverses its losses in the morning session

COZforex: For the past trading session, the GBP declined 0.05% against the USD and closed at 1.2739.

In the Asian session (at GMT0300), the pair is trading at 1.2746, with the GBP trading 0.05% higher against the USD from yesterday’s close.

In technical analysis, COZ senior foreign exchange risk investment trader Desmond Doyle said: GBP/USD is expected to find support at 1.2714 and a fall through could take it to the next support level of 1.2681; Meanwhile, the pair is expected to find its first resistance at 1.2773, and a rise through could take it to the next resistance level of 1.2799.

With no macroeconomic releases in Britain today, investor sentiment would be governed by global macroeconomic events.

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


(COZ forex UK)
Comment
There are no comments made yet.
Accepted Answer Pending Moderation
0
Votes
Undo
COZFX: SNB left its key interest rate steady at -0.75%

COZforex: For the past trading session, the USD declined 0.15% against the CHF and closed at 0.9937.

In economic news, Switzerland’s producer and import price index dropped 0.8% on an annual basis in May, more than market expectations for a fall of 0.7%. The index had recorded a decline of 0.6% in the previous month.

The Swiss National Bank, in its latest monetary policy meeting, opted to leave its key interest rate steady at -0.75%, as widely expected and indicated that the central bank would hold its ultra-loose monetary policy unchanged till 2021.

In major news, the State Secretariat for Economic Affairs’ (SECO), in its June economic forecasts upgraded its 2019 economic growth forecast to 1.2% and maintained its 2020 growth outlook of 1.7%, however, the agency warned over risk of global trade war.

In the Asian session (at GMT0300), the pair is trading at 0.9935, with the USD trading marginally lower against the CHF from yesterday’s close.

In technical analysis, COZFX strategist Nigel Boynton said: USD/CHF is expected to find support at 0.9915 and a fall through could take it to the next support level of 0.9895; Meanwhile, the pair is expected to find its first resistance at 0.9958, and a rise through could take it to the next resistance level of 0.9981.

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

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


(COZ forex UK)
Comment
There are no comments made yet.
  1. one week ago
  2. Commercial Forum
  3. # 2
Accepted Answer Pending Moderation
0
Votes
Undo
Instant Personal Loans and Business loan offer – There are times when you might need money urgently at a very short notice but are running out of cash. You may wonder as to which lender might sanction a loan at such an occasion! Much to your surprise, you can avail instant personal loans immediately. They are processed very fast, say within 24 hours. You can use these loans for any personal need of yours. You also have the choice to apply for this loan online. Yes, within the comfort of your home, you can apply for this loan and save yourself of all the hassles which you might have to go through otherwise contact us now: email:(mailmuthootgroupp@gmail.com) 21blackmoney2.jpg
Attachments (1)
Comment
There are no comments made yet.
Accepted Answer Pending Moderation
0
Votes
Undo
COZFX: Euro trading a tad higher in the Asian session

COZforex: For the past trading session, the EUR slightly rose against the USD and closed at 1.1314.
In the US, data showed that the JOLTs job openings unexpectedly fell to a level of 7449.0K in April, compared to market expectations for a rise to a level of 7496.0K. In the prior month, the JOLTs job openings had registered a revised reading of 7474.0K.
In the Asian session (at GMT0300), the pair is trading at 1.1316, with the EUR trading marginally higher against the USD from yesterday’s close.
In technical analysis, COZforex senior currency strategist Ian • Quigley said: EUR/USD is expected to find support at 1.1296 and a fall through could take it to the next support level of 1.1275; Meanwhile, the pair is expected to find its first resistance at 1.1331, and a rise through could take it to the next resistance level of 1.1345.
Going forward, traders would await Euro-zone’s Sentix investor confidence for June, slated to release in a few hours. Later in the day, the US NFIB small business optimism and the producer price index, both for May, will be on investors radar.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

(COZ forex UK)
Comment
There are no comments made yet.
Accepted Answer Pending Moderation
0
Votes
Undo
COZFX: Australia’s private sector credit advanced less than estimated in April

COZforex: For the past trading session, the AUD declined 0.07% against the USD and closed at 0.6913.
In commodities, LME Copper prices declined 0.7% or $41.5/MT to $5823.0/MT; Meanwhile, Aluminium prices declined 0.5% or $8.0/MT to $1762.0/MT.
In the Asian session (at GMT0300), the pair is trading at 0.6916, with the AUD trading marginally higher against the USD from yesterday’s close.
Overnight data showed that Australia’s private sector credit demand advanced 3.7% on an annual basis in April, undershooting market expectations for a rise of 3.8%. In the previous month, the private sector credit had registered a climb of 3.9%.
Elsewhere in China, Australia’s largest trading partner, the NBS manufacturing PMI contracted to a level of 49.4 in May, more than market consensus for a drop to a level of 49.9. In the previous month, the PMI had recorded a level of 50.1.
In technical analysis, COZFX strategist Nigel Boynton said: AUD/USD is expected to find support at 0.6898 and a fall through could take it to the next support level of 0.6879; Meanwhile, the pair is expected to find its first resistance at 0.6936, and a rise through could take it to the next resistance level of 0.6955.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

(COZ forex UK)
Comment
There are no comments made yet.
Accepted Answer Pending Moderation
0
Votes
Undo
COZFX: Crude oil trading higher, ahead of Baker Hughes weekly rig count data

COZforex: For the past trading session, Crude Oil declined 5.25% against the USD and closed at USD58.16 per barrel, as escalating US-China trade war tensions raised concerns over a slowdown in energy demand.

In the Asian session (at GMT0300), the pair is trading at 58.51, with oil trading 0.60% 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 56.84 and a fall through could take it to the next support level of 55.18; Meanwhile, the pair is expected to find its first resistance at 60.66, and a rise through could take it to the next resistance level of 62.82.

Crude oil is trading below its 20 Hr and 50 Hr moving averages.


(COZ forex UK)
Comment
There are no comments made yet.
Accepted Answer Pending Moderation
0
Votes
Undo
COZFX: Loonie extends its gains in the morning session

COZforex: For the past trading session, the USD declined 0.05% against the CAD and closed at 1.3429.

In the Asian session (at GMT0300), the pair is trading at 1.3425, with the USD trading marginally 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 1.3412 and a fall through could take it to the next support level of 1.3398; Meanwhile, the pair is expected to find its first resistance at 1.3443, and a rise through could take it to the next resistance level of 1.3460.

Amid lack of economic releases in Canada today, traders would focus on global macroeconomic events for further direction.

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


(COZ forex UK)
Comment
There are no comments made yet.
  1. more than a month ago
  2. Commercial Forum
  3. # 7
Accepted Answer Pending Moderation
0
Votes
Undo
COZFX: British Pound trading higher in the morning session

COZforex: For the past trading session, the GBP declined 0.45% against the USD and closed at 1.2952.

In the Asian session (at GMT0300), the pair is trading at 1.2962, with the GBP trading 0.08% higher 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 1.2922 and a fall through could take it to the next support level of 1.2881; Meanwhile, the pair is expected to find its first resistance at 1.3022, and a rise through could take it to the next resistance level of 1.3081.

Moving ahead, traders would closely monitor UK’s ILO unemployment rate and average weekly earnings, both for March, set to release in a few hours.

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


(COZ forex UK)
Comment
There are no comments made yet.
  1. more than a month ago
  2. Commercial Forum
  3. # 8
Accepted Answer Pending Moderation
0
Votes
Undo
COZFX: Japan’s Nikkei services PMI declined in April

COZforex: For the past trading session, the USD declined 0.48% against the JPY and closed at 110.25.

In the Asian session (at GMT0300), the pair is trading at 110.04, with the USD trading 0.19% lower against the JPY from yesterday’s close.

The minutes of the Bank of Japan’s March monetary policy meeting revealed that members saw no immediate need to expand an already massive stimulus programme and warned of heightening risks to Japan’s recovery. Additionally, the officials cautioned that the central bank’s prolonged ultra-loose monetary policy could impact regional banks’ profits.

Overnight data showed that Japan’s Nikkei services PMI dropped to a level of 51.8 in April, following a reading of 52.0 in the prior month.

In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/JPY is expected to find support at 109.72 and a fall through could take it to the next support level of 109.41; Meanwhile, the pair is expected to find its first resistance at 110.60, and a rise through could take it to the next resistance level of 111.17.

In absence of key economic releases in Japan today, investor sentiment would be determined by global macroeconomic events.

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


(COZ forex UK)
Comment
There are no comments made yet.
  1. more than a month ago
  2. Commercial Forum
  3. # 9
Accepted Answer Pending Moderation
0
Votes
Undo
COZFX: Swiss Franc trading a tad higher in the Asian session

COZforex: For the past trading session, the USD declined 0.10% against the CHF and closed at 1.0191 on Friday.

In the Asian session (at GMT0300), the pair is trading at 1.0187, with the USD trading a tad lower against the CHF 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 1.0168 and a fall through could take it to the next support level of 1.0150; Meanwhile, the pair is expected to find its first resistance at 1.0221, and a rise through could take it to the next resistance level of 1.0256.

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


(COZ forex UK)
Comment
There are no comments made yet.
  1. more than a month ago
  2. Commercial Forum
  3. # 10


There are no replies made for this post yet.
However, you are not allowed to reply to this post.
 
     
 

Latest Spot Rate

 
27 June 2019
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic comme...
27 June 2019
Key FindingsThis publication presents statistics about victims of selected offences that were recorded by police between January 1 and December 31 2018. This is the ninth annual release of the current time series which covers the 2010 to 2018 referen...
27 June 2019
Main featuresInput–Output (I–O) tables are part of the Australian national accounts, complementing the quarterly and annual series of national income, expenditure and product aggregates. They provide detailed information about the supply and use of p...
27 June 2019
March key figuresFinancing resources and investment, original, current pricesNon-financial corporationsFinancial corporationsGeneral government...
27 June 2019
Number of burglaries at a nine year low (Media Release)
How It Works | About | Contact | Privacy Policy | Forex Marketing
© 2009 - 2019 Forex Forum. All Rights Reserved. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.