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On August 22, the Colombian National Disaster Risk Management Agency issued an updated disaster report stating that the strong earthquake that struck the country recently has caused 329 deaths, 4,600 injuries, and 247 missing persons, with 364 people rescued. According to the China Earthquake Networks Center, a magnitude 7.5 earthquake struck northwestern Colombia on the evening of August 10 (morning of August 10 local time), with a focal depth of 80 kilometers. Thirty-two cities across Colombia were severely affected.On August 22, the second working meeting of the Organizing Committee of the 26th China International Fair for Investment and Trade (CIFIT) was held in Xiamen, Fujian Province. Ling Ji, Vice Minister of Commerce and Deputy Representative for International Trade Negotiations, and Zhao Zenglian, Vice Governor of Fujian Province, attended the meeting and delivered speeches. Representatives from relevant departments and member units of the CIFIT preparatory working group reported on the progress of their preparatory work. The meeting emphasized the need to closely adhere to the permanent theme of "Expanding Two-Way Investment and Promoting Global Development," deepen CIFITs functional positioning as a landmark exhibition for "Investing in China" and a public platform for global investment cooperation, further coordinate event arrangements, strengthen collaboration, enhance project matching, refine organizational support, improve media publicity, and enhance the quality and effectiveness of the event to ensure the 26th CIFIT achieves a new look and a new level of success.August 22nd - The APEC Customs and Business Dialogue concluded yesterday (August 21st). Reporters learned at the dialogue that Chinese customs has signed six bilateral agreements with relevant departments of several APEC economies, including Chile and South Korea, covering imported agricultural and food products such as instant noodles containing meat and fresh fruits.On August 22nd, experts stated that the price increase of domestically produced large-scale models is a correction to the long-standing inversion of inference computing power costs. In the short term, this is more like a recalibration of price and value. However, if manufacturers only raise prices without keeping up with stability and other aspects, users will vote with their feet, as the cost of replacing models is decreasing. Going forward, it is necessary to continuously monitor the dual verification of the price increase strategy: firstly, whether manufacturers have matched the price increase with new model capabilities, rather than simply raising the price of old models; secondly, it is necessary to pay attention to where the increased revenue is used, whether it has been used for computing power expansion and service capability building.On August 22, the Russian Ministry of Defense reported that on August 21, Russian forces continued their strikes against ports and vessels serving the interests of the Ukrainian Armed Forces. The report stated that Russian drones struck a military warehouse in the port of Leny; a Ukrainian naval patrol boat in the port of Chernomorsk; and port infrastructure used for storing military supplies in a southern port. Additionally, Russian forces seized control of a settlement in the Donetsk region. Ukrainian President Zelenskyy posted on social media on August 21 that Ukrainian forces launched long-range strikes in the early hours of the day, hitting two important Russian targets: an oil refinery and a military airfield. Ukraine also stated that it had achieved results on the Black Sea front, but did not disclose specific targets or the extent of damage.

AUD/NZD Price Analysis: Bulls Surpass 1.0790 Resistance Confluence Due To Positive Australian Employment Report

Alina Haynes

Apr 13, 2023 14:19

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AUD/NZD supporters are approaching their highest levels since early March as a result of a four-day uptrend following Thursday morning's release of robust Australian employment data. At the time of publication, the currency pair is accepting bids to reestablish the multi-day high near 1.0810.

 

The Australia Bureau of Statistics (ABS) reported for the month of March that Employment Change increased by 53K compared to 20K expected and 64.6K previously, while the Unemployment Rate remained unchanged at 3.6% compared to expectations of 3.6%. In addition, the Participation Rate rose to 66.7%, exceeding the 66.7% predicted by the market.

 

The AUD/NZD pair surpassed the previous critical resistance confluence surrounding 1.0790, which was comprised of the 100-day moving average (DMA) and a one-month-old downward trend line.

 

The bullish MACD signals and stronger, non-overbought RSI (14) line contribute to the strength of the upside bias.

 

The AUD/NZD bulls are currently positioned to test the 50-day moving average of 1.0824. However, the preceding monthly apex of about 1.0895 and the round number 1.0900 may limit future gains.

 

Alternately, retracement remains elusive until the AUD/NZD pair remains above the support-turned-resistance level of 1.0790.

 

Then, a breach of the upward-sloping trend line from March 5 and the 61.8% Fibonacci retracement level of the pair's run-up from December 2022 to February 2023, located near 1.0705, could give the bears room to maneuver in their subsequent analysis.