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  1. #121
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    COZfx: Euro-zone’s economic confidence weakened for the eighth-consecutive month in August in August

    COZforex: For the past trading session, the EUR declined 0.38% against the USD and closed at 1.1663.

    On the macro front, the Euro-zone’s final consumer confidence index slid to a level of -1.9 in August, confirming the preliminary print and following a revised level of -0.5 in the prior month. Market participants had anticipated the index to decline to a level of -1.9.

    In the economic news, Germany’s seasonally adjusted unemployment rate remained unchanged at a rate of 5.2% in August, marking its lowest rate since German reunification in 1990 and at par with market expectations. Meanwhile, the preliminary consumer price index rose 2.0% on a yearly basis in August, in line with market expectations.

    In the US, data showed that US personal income advanced 0.3% on a monthly basis in July, undershooting market expectations for an advance of 0.4%. In the prior month, personal income had recorded a rise of 0.4%.

    Data showed that personal spending rose 0.4% on a monthly basis in July, in line with market expectations. In the previous month, personal spending had registered a similar rise.

    On the other hand, the US seasonally adjusted initial jobless claims increased to a level of 213.0K in the week ended 25 August 2018, compared to a level of 210.0K in the prior week. Market participants had envisaged initial jobless claims to climb to a level of 212.0K.

    In technical analysis, COZFX strategist Nigel Boynton said: EUR/USD is expected to find support at 1.1629 and a fall through could take it to the next support level of 1.1598; Meanwhile, the pair is expected to find its first resistance at 1.1705, and a rise through could take it to the next resistance level of 1.1750.

    Going forward, investors will keep an eye on the Euro-zone’s unemployment rate for July and the consumer price index for August, set to release in a few hours. Later in the day, the US Chicago PMI and the Michigan consumer sentiment index, both for August, will keep traders on their toes.


    (COZ forex UK)

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  3. #122
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    COZfx: Australia’s trade surplus narrowed in July

    COZforex: For the past trading session, the AUD rose 0.17% against the USD and closed at 0.7193.

    In commodities, LME Copper prices rose 0.5% or $27.0/MT to $5850.0/MT; Meanwhile, Aluminium prices rose 0.3% or $6.0/MT to $2046.0/MT.

    In the Asian session, the pair is trading at 0.7203, with the AUD trading 0.14% higher against the USD from yesterday’s close.

    Overnight data showed that Australia’s seasonally adjusted trade surplus narrowed to a level of A$1551.0 million in July, driven by rise in imports and following a revised surplus of A$1937.0 million in the prior month. Market participants had anticipated the nation to record a trade surplus of A$1450.0 million.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: AUD/USD is expected to find support at 0.7160 and a fall through could take it to the next support level of 0.7117; Meanwhile, the pair is expected to find its first resistance at 0.7231, and a rise through could take it to the next resistance level of 0.7259.

    Trading trend in the Aussie is expected to be determined by Australia’s AiG performance of construction index for August and home loans for July, set to release overnight.

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


    (COZ forex UK)

  4. #123
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    COZfx: Oil extends its gains in the Asian session

    COZforex: For the past trading session, Crude Oil rose 0.19% against the USD and closed at USD68.93 per barrel on Friday, ahead of US sanctions on Iran oil.

    Meanwhile, fresh figures from Baker Hughes reported that the number of active oil rigs advanced by 7 to 867, after declining for two straight weeks in the week ended 14 September.

    In the Asian session (at GMT0300), the pair is trading at 68.96, with oil trading slightly higher against the USD from Friday’s close.

    In technical analysis, COZforex foreign currency senior currency strategist, Paul Chew said: The oil is expected to find support at 67.96 and a fall through could take it to the next support level of 66.97; Meanwhile, the pair is expected to find its first resistance at 69.93, and a rise through could take it to the next resistance level of 70.91.

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


    (COZ forex UK)

  5. #124
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    COZfx: Japan’s manufacturing index climbed to 3-month high level in August

    COZforex: For the past trading session, the USD rose 0.18% against the JPY and closed at 112.48.

    On the macro front, Japan’s national consumer price index increased 1.3% on an annual basis in August, compared to a rise of 0.9% in the prior month. Market participants had anticipated the CPI to rise to 1.1%. Moreover, the nation’s flash manufacturing PMI climbed to a 3-month high level of 52.9 in September. In the prior month, the PMI had recorded a reading of 52.5.

    In the Asian session (at GMT0300), the pair is trading at 112.68, with the USD trading 0.18% higher against the JPY from yesterday’s close.

    In technical analysis, COZforex senior currency strategist Ian • Quigley said: USD/JPY is expected to find support at 112.24 and a fall through could take it to the next support level of 111.81; Meanwhile, the pair is expected to find its first resistance at 112.91, and a rise through could take it to the next resistance level of 113.15.

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


    (COZ forex UK)

  6. #125
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    COZfx: Britain’s Gfk consumer confidence index eased in September

    COZforex: For the past trading session, the GBP declined 0.73% against the USD and closed at 1.3075.

    In the Asian session (at GMT0300), the pair is trading at 1.3079, with the GBP trading slightly higher against the USD from yesterday’s close.

    Data indicated that the Gfk consumer confidence declined to a level of -9.0 in September, compared to market expectations for a fall to a level of -8.0. In the previous month, the consumer confidence had recorded a level of -7.0. On the contrary, the Lloyds business barometer jumped to a level of 29.0% in September, following a reading of 23.0% in the prior month.

    In technical analysis, COZFX strategist Nigel Boynton said: GBP/USD is expected to find support at 1.3047 and a fall through could take it to the next support level of 1.3014; Meanwhile, the pair is expected to find its first resistance at 1.3138, and a rise through could take it to the next resistance level of 1.3196.

    Trading trend in the Sterling today is expected to be determined by UK’s gross domestic product for 2Q, due to be released in a few hours.

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


    (COZ forex UK)

  7. #126
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    COZfx: Loonie extends its losses in the morning session

    COZforex: For the past trading session, the USD rose 0.39% against the CAD and closed at 1.2873.

    In the Asian session (at GMT0300), the pair is trading at 1.2882, with the USD trading 0.07% higher 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 1.2831 and a fall through could take it to the next support level of 1.2780; Meanwhile, the pair is expected to find its first resistance at 1.2910, and a rise through could take it to the next resistance level of 1.2938.

    Trading trend in the Loonie today is expected to be determined by Canada’s Ivey purchasing managers index for September, set to be released later in the day.

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


    (COZ forex UK)

  8. #127
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    COZfx: Germany’s trade surplus widened more-than-estimated in August

    COZforex: For the past trading session, the EUR slightly rose against the USD and closed at 1.1496.

    Macroeconomic data showed that Germany’s seasonally adjusted trade surplus widened to €17.2 billion in August, compared to a surplus of €16.5 billion in the prior month. Market participants had expected the nation to post a surplus of €16.2 billion.

    In the US, data indicated that the US NFIB small business optimism index slid to a level of 107.9 in September, compared to market consensus for a drop to a level of 108.0. In the previous month, the index had recorded a reading of 108.8.

    In the Asian session, the pair is trading at 1.1508, with the EUR trading 0.10% 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 1.1455 and a fall through could take it to the next support level of 1.1402; Meanwhile, the pair is expected to find its first resistance at 1.1538, and a rise through could take it to the next resistance level of 1.1568.

    Amid lack of macroeconomic releases in the Euro-zone today, traders will keep an eye on the MBA mortgage applications followed by the US producer price index for September, set to release later in the day

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


    (COZ forex UK)

  9. #128
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    COZfx: Switzerland’s producer and import price index rose less-than-estimated in September

    COZforex: For the past trading session, the USD declined 0.39% against the CHF and closed at 0.9870.

    On the macro front, Switzerland’s producer and import price index advanced 2.6% on an annual basis in September, undershooting market expectations for an advance of 3.1%. In the previous month, the index had registered a rise of 3.4%.

    Meanwhile, the nation’s total sight deposits rose to a level of CHF577.6 billion in the week ended 12 October, from CHF577.5 billion in the previous week.

    In the Asian session, the pair is trading at 0.9883, with the USD trading 0.13% 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 0.9851 and a fall through could take it to the next support level of 0.9818; Meanwhile, the pair is expected to find its first resistance at 0.9913, and a rise through could take it to the next resistance level of 0.9942.

    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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