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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)

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