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On September 11th, gold prices continued to soar, prompting many investors to cash in their gold holdings. However, several Taobao merchants have suspended their buyback services. Customer service representatives from the relevant merchants responded, stating, "Due to recent adjustments to platform regulations, buybacks are temporarily unavailable." One merchant further explained, "Taobaos merchant regulations have prevented our recycling process from proceeding normally." Contacting Taobao regarding this situation has not yet resulted in a response.On September 11th, rumors circulated that Dreame Technology was facing bankruptcy, Mova was closing, and the Suzhou government was planning to take over Dreame. Dreame founder Yu Hao responded via WeChat Moments, stating, "Dreami has sufficient cash flow and is operating well. Furthermore, in the past two years, the company and he personally invested approximately 5 billion yuan to repurchase existing shares at a high price, increasing his shareholding from 45% to 70%. All exiting investors have made money, and early investors have earned dozens of times more."On September 11, most short-term Shibor rates rose. The overnight Shibor rate fell 5.6 basis points to 1.369%, the 7-day Shibor rate rose 1.7 basis points to 1.466%, the 14-day Shibor rate rose 0.9 basis points to 1.51%, and the 1-month Shibor rate rose 0.2 basis points to 1.53%.Fitch: The financial position of gas operators in Asia Pacific remains strong.On September 11th, the State Council Information Office held a press conference this morning on the theme of "High-Quality Completion of the 14th Five-Year Plan," highlighting the achievements of health care during the 14th Five-Year Plan period. According to the report, from 2020 to 2024, the number of primary healthcare institutions will increase from 970,000 to 1.04 million, the number of healthcare personnel will increase from 4.34 million to 5.26 million, and the number of medical consultations will increase from 4.1 billion to 5.3 billion.

Bulls Face a Wall of Resistance Around 1.0960-1.1000 in the AUD/NZD Price Analysis

Alina Haynes

Apr 29, 2022 09:56

The AUD/NZD is ready to recoup some of the week's losses, climbing for the third consecutive day, up a modest 0.13 percent as the Asian Pacific session begins. The AUD/NZD currency pair is trading at 1.0943 at the time of writing.

 

The week's lack of New Zealand data left the AUD/NZD exposed to the Australian economic calendar, which revealed that inflation increased by 5.1 percent year on year, above expectations of 4.6 percent and blowing the headline reading of 3.5 percent. Core inflation increased to its highest level since 2009, 3.7 percent, up from a previous reading of 2.6 percent.

 

Apart from that, sentiment improved throughout the day, and the Asian session reflected the tone on Wall Street. Investors were kept on their toes by China's coronavirus outbreak. Meanwhile, market participants shrugged aside the Ukraine-Russian spat and a weaker-than-expected US growth report as desire for risky assets surged.

 

As a result, the AUD/NZD appreciated last week on anticipation of a May rate hike by the Reserve Bank of Australia (RBA). Nonetheless, an Australian Federal Election could dissuade the RBA from acting despite a strong inflation report.

Forecasting the AUD/NZD Exchange Rate: A Technical Analysis

The AUD/NZD currency pair's bias is bullish. The pair is in an uptrend as shown by the daily moving averages (DMAs) below the exchange rate. However, Thursday's price action hit strong resistance near 1.0962, a zone that is surrounded by resistance levels between 1.0960 and 1.1000.

 

The AUD/initial NZD's resistance level on the upside would be April's 28 daily high of 1.0962. After clearing 1.0975, the next supply zone would be 1.0998.

 

On the other hand, the first demand zone for the AUD/NZD would be 1.0900. If the pair breaks below 1.0880, it will expose April's 28 swing low at 1.0824, followed by April's 25 swing low at 1.0824.

 

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