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  • Flyman7788
    Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: Japan’s large manufacturers’ mood improved less-than-expected in 4Q 2017

    COZforex: For the past trading session, the USD rose 0.37% against the JPY and closed at 113.51 on Friday.

    In...
    COZfx: Japan’s large manufacturers’ mood improved less-than-expected in 4Q 2017

    COZforex: For the past trading session, the USD rose 0.37% against the JPY and closed at 113.51 on Friday.

    In the Asian session, the pair is trading at 113.58, with the USD trading 0.06% higher against the JPY from Friday’s close.

    Overnight data indicated that Japan’s business survey index of large manufacturing industries advanced less-than-expected by 9.7% on a quarterly basis in the fourth quarter of 2017, compared to market expectations for a rise of 10.0%. The index had recorded a rise of 9.4% in the previous quarter.

    In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: USD/JPY is expected to find support at 113.24 and a fall through could take it to the next support level of 112.91; Meanwhile, the pair is expected to find its first resistance at 113.8, and a rise through could take it to the next resistance level of 114.03.

    Going ahead, Japan’s tertiary industry index for October, scheduled to release tomorrow, will be eyed by traders.

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


    (COZ forex UK)
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  • Flyman7788
    Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: Britain and the EU failed to strike a Brexit divorce deal

    COZforex: For the past trading session, the GBP slightly rose against the USD and closed at 1.3474. Yesterday, the European...
    COZfx: Britain and the EU failed to strike a Brexit divorce deal

    COZforex: For the past trading session, the GBP slightly rose against the USD and closed at 1.3474. Yesterday, the European Commission President, Jean-Claude Juncker and the British Prime Minister, Theresa May failed to reach an agreement on an initial Brexit divorce package.

    Macroeconomic data indicated that Britain’s Markit construction PMI rose to a level of 53.1 in November, expanding at its fastest pace in five months, thus highlighting that the sector has regained some steam in the final quarter of this year. The PMI had recorded a reading of 50.8 in the prior month, while markets had expected for an advance to a level of 51.0.

    In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: GBP/USD is expected to find support at 1.3408 and a fall through could take it to the next support level of 1.3349; Meanwhile, the pair is expected to find its first resistance at 1.3533, and a rise through could take it to the next resistance level of 1.3599.

    Trading trend in the Pound today is expected to be determined by the release of UK’s Markit services PMI for November, set to release in a few hours.

    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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  • Flyman7788
    Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: Swiss Franc trading a tad lower in the morning session

    COZforex: For the past trading session, the USD rose 0.07% against the CHF and closed at 0.9812.

    On the macro front,...
    COZfx: Swiss Franc trading a tad lower in the morning session

    COZforex: For the past trading session, the USD rose 0.07% against the CHF and closed at 0.9812.

    On the macro front, Switzerland’s total sight deposits fell to a level of CHF577.5 billion in the week ended 24 November, compared to a level of CHF577.6 billion reported in the previous week.

    In the Asian session, the pair is trading at 0.9815, with the USD trading marginally higher against the CHF from yesterday’s close.

    In technical analysis, coz forex senior derivatives trader Daniel • Moloney said: USD/CHF is expected to find support at 0.9789 and a fall through could take it to the next support level of 0.9763; Meanwhile, the pair is expected to find its first resistance at 0.9831, and a rise through could take it to the next resistance level of 0.9847.

    Amid no macroeconomic releases in Switzerland today, investor sentiment would be governed by global macroeconomic factors.

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


    (COZ forex UK)
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  • Flyman7788
    Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: Euro-zone’s consumer confidence jumped to its highest since 2001 in November

    COZfx: For the past trading session, the EUR rose 0.72% against the USD and closed at 1.1821, after a reading...
    COZfx: Euro-zone’s consumer confidence jumped to its highest since 2001 in November

    COZfx: For the past trading session, the EUR rose 0.72% against the USD and closed at 1.1821, after a reading on the Euro-zone consumer sentiment came in better-than-expected in November.

    Data showed that the Euro-zone’s preliminary consumer confidence index advanced to a level of 0.1 in November, jumping back into the positive territory and surging to a nearly 17-year high level, suggesting that upbeat growth prospects across the Euro-area are further lightening the region’s consumer morale. The index had recorded a reading of -1.0 in the previous month, while investors had envisaged for a rise to a level of -0.8.

    The US Dollar fell against most of the major currencies, after minutes of the Federal Reserve’s (Fed) November meeting revealed lingering concerns over tepid US inflation.

    According to minutes, officials proffered an upbeat assessment on the US economy and indicated that an increase in interest rates would be warranted “in the near term”. However, policymakers had some disagreements on the pace of inflation as many felt that tightness in the labour market would likely fuel higher inflation in the medium term while others expressed concerns over the inflation outlook. Also, board members fretted that asset prices are out of balance and could pose a threat to the economy.

    In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1767 and a fall through could take it to the next support level of 1.1699; Meanwhile, the pair is expected to find its first resistance at 1.1870, and a rise through could take it to the next resistance level of 1.1905.

    Trading trend in the Euro today is expected to be determined by the release of minutes of the European Central Bank’s recent meeting, due later in the day. Moreover, investors would keenly monitor the flash Markit manufacturing and services PMIs for November across the Euro-zone.


    (COZ forex UK)
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  • Flyman7788
    Flyman7788 replied to a discussion, Cozgroup Daily Discussion
    COZfx: Canada’s manufacturing shipments surprisingly grew in September

    COZforex: For the past trading session, the USD declined 0.11% against the CAD and closed at 1.2754.

    Macroeconomic data...
    COZfx: Canada’s manufacturing shipments surprisingly grew in September

    COZforex: For the past trading session, the USD declined 0.11% against the CAD and closed at 1.2754.

    Macroeconomic data revealed that Canada’s manufacturing shipments unexpectedly advanced 0.5% on a monthly basis in September, defying market expectations for a fall of 0.5%. In the previous month, manufacturing shipments had recorded a revised rise of 1.4%.

    In the Asian session, the pair is trading at 1.2726, with the USD trading 0.22% 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 1.2699 and a fall through could take it to the next support level of 1.2671; Meanwhile, the pair is expected to find its first resistance at 1.2769, and a rise through could take it to the next resistance level of 1.2811.

    This afternoon will bring a crucial Canadian release, namely the consumer price inflation data for October.
    The currency pair is trading below its 20 Hr and 50 Hr moving averages.


    (COZ forex UK)
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