AUD News 

AUDUSD down but bouncing off support.

“The AUDUSD is down but has bounced off support defined by a trend line on the hourly chart (see red circle 5)” reports forexlive.com. The high on Friday did stall just before level (see green circle 12) SUMMARY: For bulls/buyers close support at 200 hour MA.  Other support at the 100 hour MA and the underside of the broken trend line at 0.67283. Source: forexlive.com

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News 

GBP/JPY buyers look to extend move above 100-hour moving average

“As cable found support from the 1.2700 handle, GBP/JPY also leaned on support from the 76.4 retracement level @ 143.39 earlier this week before bouncing higher as we’re seeing now” reports forexlive.com. Otherwise, this is still merely a correction on the way lower for the pound.The pound is the best performing major currency on the day as it recovers some poise after bouncing off support levels across multiple charts and this is one of them. Source: forexlive.com

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News 

Bovis aiming for record profits after bouncing back from faulty homes scandal

“Housebuilder Bovis said it was on track for a record year after bouncing back from a building quality scandal to post soaring profits” writes Jack Torrance for telegraph.co.uk. The FTSE 250 company made £60.2m in pre-tax profits in the six months to June, up 41pc on last year, when it had to shell out millions of pounds to repair faulty homes and for advisors’ fees to fend off takeover approaches by rivals Redrow and Galliford Try. Greg Fitzgerald, chief executive, declared Bovis was “very much back in the game” but…

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Markets News Oil 

Oil on track for first gain in 3 sessions, bouncing off 6-week low

“Meanwhile, the continuing trade dispute between the U.S. and China had raised concerns over the potential for a fall in global oil demand” writes Christopher Alessi for marketwatch.com. The report also revealed that total domestic crude production had declined by 100,000 barrels to 10.9 million barrels a day, down from a record 11 million barrels a day.Prices were also bouncing back after the U.S. benchmark settled at a six-week low Wednesday on growing global crude output and a surprise climb in domestic supplies.Total U.S. crude stocks, however, were up by…

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