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  • Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: NZD Down in Asia After Mixed Jobs Data, Eye on Dollar After US Rebound

    COZforex: The NZD fell after mixed jobs data on Wednesday with markets keeping a close eye on the dollar following...
    COZfx: NZD Down in Asia After Mixed Jobs Data, Eye on Dollar After US Rebound

    COZforex: The NZD fell after mixed jobs data on Wednesday with markets keeping a close eye on the dollar following a US market recovery overnight.

    NZD/USD traded at 0.7331, down 0.13%. New Zealand reported fourth quarter labor cost index data with a 0.4% gain on quarter, compared to a 0.5% rise seen, and at a 1.9% pace on year as seen. As well, the unemployment rate fell to 4.5%, compared to an expected 4.7% and down 4.6% previously under a participation rate at 71.00%.

    The US dollar index, which measures the greenback’s strength against a trade-weighted basket of 6 major currencies, was last quoted down 0.06% to 89.52. The Dow Jones Industrial Average closed higher at 24,914.49. The S&P 500 closed 1.75% higher, while the Nasdaq Composite closed at 7115.88, up 2.13%. The Dow Jones fell to an intraday low of 23,784 before staging a remarkable 1,100 move upside to end the day 550 points higher.

    Overnight, the dollar retreated from highs against a basket of major currencies amid mostly bearish economic data and dovish comments from St. Louis Federal Reserve president James Bullard.

    A pair of economic reports on the labour market and trade fell short of expectations, weighing on the dollar, and reminded investors that there is some sluggishness remains in the economy.

    The US Labor Department's latest Job Openings and Labor Turnover Survey report, a measure of labor demand, showed job openings in December fell to about 5.81m, short of expectations for 5.96m.


    (COZ forex UK)
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  • Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: Canada’s annual inflation cooled as anticipated in December

    COZforex: For the past trading session, the USD declined 0.54% against the CAD and closed at 1.2321 on Friday.

    On the...
    COZfx: Canada’s annual inflation cooled as anticipated in December

    COZforex: For the past trading session, the USD declined 0.54% against the CAD and closed at 1.2321 on Friday.

    On the economic front, Canada’s consumer price index climbed 1.9% on an annual basis in December, in line with market expectations and compared to an advance of 2.1% in the prior month.

    In the Asian session, the pair is trading at 1.2331, with the USD trading 0.08% higher against the CAD from Friday’s close.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: USD/CAD is expected to find support at 1.2296 and a fall through could take it to the next support level of 1.2260; Meanwhile, the pair is expected to find its first resistance at 1.2364, and a rise through could take it to the next resistance level of 1.2396.

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


    (COZ forex UK)
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  • Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: Aussie trading reverses its gains in the Asian session

    COZforex: For the past trading session, the AUD rose 0.25% against the USD and closed at 0.8015.

    Yesterday, the IMF forecasted...
    COZfx: Aussie trading reverses its gains in the Asian session

    COZforex: For the past trading session, the AUD rose 0.25% against the USD and closed at 0.8015.

    Yesterday, the IMF forecasted that China, Australia’s largest trading partner, is expected to grow at 6.6% this year before slipping to 6.4% in 2019.

    In commodities, LME Copper prices declined 0.4% or $30.0/MT to $7049.0/MT; Meanwhile, Aluminium prices declined 0.9% or $21.0/MT to $2235.0/MT.

    In the Asian session, the pair is trading at 0.7988, with the AUD trading 0.34% lower against the USD from yesterday’s close.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: AUD/USD is expected to find support at 0.7972 and a fall through could take it to the next support level of 0.7956; Meanwhile, the pair is expected to find its first resistance at 0.8017, and a rise through could take it to the next resistance level of 0.8046.

    Moving ahead, traders would focus on Australia’s Westpac leading index for December, due to release overnight.
    The currency pair is trading below its 20 Hr and 50 Hr moving averages.


    (COZ forex UK)
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  • Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: Japan’s machinery orders unexpectedly surged to its highest level in a decade in November

    COZforex: For the past trading session, the USD declined 0.18% against the JPY and closed at...
    COZfx: Japan’s machinery orders unexpectedly surged to its highest level in a decade in November

    COZforex: For the past trading session, the USD declined 0.18% against the JPY and closed at 110.38.

    In the Asian session, the pair is trading at 110.62, with the USD trading 0.22% higher against the JPY from yesterday’s close.

    Overnight data showed that Japan’s machinery orders unexpectedly jumped to a 10-year high level of 5.7% on a monthly basis in November, defying market expectation for a fall of 1.4%, thus pointing to a continued rise in investment spending. Machinery orders had registered a rise of 5.0% in the previous month.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: USD/JPY is expected to find support at 110.21 and a fall through could take it to the next support level of 109.81; Meanwhile, the pair is expected to find its first resistance at 111, and a rise through could take it to the next resistance level of 111.39.

    Looking forward, Japan’s final industrial production data for November, set to release tomorrow, will be on investors’ radar.

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


    (COZ forex UK)
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  • Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: UK’s services sector growth came in stronger-than-estimated in December

    COZforex: For the past trading session, the GBP rose 0.29% against the USD and closed at 1.3551, on the heels of...
    COZfx: UK’s services sector growth came in stronger-than-estimated in December

    COZforex: For the past trading session, the GBP rose 0.29% against the USD and closed at 1.3551, on the heels of robust UK services sector report.

    Data revealed that Britain’s Markit services PMI climbed more-than-anticipated to a level of 54.2 in December, highlighting resilient strength in the dominant services sector in an economy that is beset with uncertainty about the outlook. In the prior month, the PMI had recorded a reading of 53.8, while investors had envisaged for a rise to a level of 54.0. Moreover, the nation’s number of mortgage approvals for house purchases unexpectedly advanced to a level of 65.1K in November, defying market expectations for a fall to a level of 64.0K. Mortgage approvals had registered a revised reading of 64.9K in the prior month.

    Other data revealed that the nation’s net consumer credit grew less-than-expected by £1.4 billion in November, after recording a revised similar rise in the preceding month, while markets had anticipated for a gain of £1.5 billion. On the other hand, the nation’s seasonally adjusted Nationwide house prices climbed 0.6% in December, beating market expectations for a gain of 0.1% and compared to a rise of 0.1% in the previous month.

    In technical analysis, COZFX strategist Nigel Boynton said: GBP/USD is expected to find support at 1.3530 and a fall through could take it to the next support level of 1.3494; Meanwhile, the pair is expected to find its first resistance at 1.3585, and a rise through could take it to the next resistance level of 1.3604.

    Amid no crucial macroeconomic releases in the UK today, investors would look forward to Britain’s industrial as well as manufacturing production data coupled with the nation’s total trade balance and NIESR GDP estimate report, all slated to release next week.


    (COZ forex UK)
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  • Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: Euro-zone’s economic growth expected to continue its robust momentum in 2018: ECB Bulletin

    COZforex: For the past trading session, the EUR rose 0.33% against the USD and closed at...
    COZfx: Euro-zone’s economic growth expected to continue its robust momentum in 2018: ECB Bulletin

    COZforex: For the past trading session, the EUR rose 0.33% against the USD and closed at 1.1940.

    Yesterday, the European Central Bank, in its economic bulletin report, stated that the Euro-bloc’s economic expansion continues to be solid and broad-based and the region is expected to sustain its nascent growth into next year. Further, the central bank expects underlying inflation in the single currency region to pick up gradually and reiterated that the solid recovery still requires monetary policy stimulus to bring inflation to the target in a sustainable way.

    The US Dollar fell against a basket of major currencies, following a pair of downbeat economic reports in the US.

    Data revealed that advance goods trade deficit unexpectedly widened to $69.7 billion in November, hitting its highest level since March 2015, reigniting worries that trade could act as a drag on the nation’s fourth-quarter growth. The advance goods trade deficit had recorded a revised level of $68.1 billion in the prior month, while markets were anticipating it to narrow to $67.9 billion.

    In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1914 and a fall through could take it to the next support level of 1.1886; Meanwhile, the pair is expected to find its first resistance at 1.1965, and a rise through could take it to the next resistance level of 1.1988.

    Trading trend in the Euro today is expected to be determined by the release of Germany’s flash consumer price index for December, slated to release in a few hours.


    (COZ forex UK)
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