EUR/USD 1.15637
0.144%
Gold 4003.94
0.678%
Oil 59.676
0.470%
USD/JPY 153.426
0.241%
GBP/USD 1.31627
0.193%
GBP/JPY 201.955
0.452%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to sources, members of the Irish Football Association have approved a resolution calling on UEFA to suspend Israels participation in European competitions.On November 8th, the Russian Ministry of Defense reported that Russian armed forces launched a large-scale attack on Ukrainian military-industrial enterprises and related energy facilities using high-precision weapons from the night of November 7th to the early morning of November 8th, hitting all targets. The report stated that the high-precision weapons used by Russia included the Kinzhal hypersonic ballistic missile. Russian air defense systems shot down 178 Ukrainian drones and two guided-missile bombs in the past 24 hours. According to reports from the Ukrainian Air Force and various levels of government agencies on November 8th, from the night of November 7th to the early morning of November 8th, Russian forces launched a large-scale missile and drone attack on Ukraine, damaging energy and railway facilities in Poltava, Kharkiv, Kyiv, and Dnipropetrovsk regions. Emergency power outages were implemented in multiple areas, including Kyiv, Kyiv, and Kharkiv. As of the morning of November 8th, the attacks had resulted in four deaths. The Ukrainian State Electricity Company posted on social media that day that several Ukrainian regions were experiencing emergency power outages due to the airstrikes, and industrial users continued to experience power rationing.Egypts Ministry of Petroleum: A new shipment of liquefied natural gas, amounting to 150,000 cubic meters, has been exported to Greece via a vessel chartered from Shell.On November 8, Chicago Mayor Brandon Johnson addressed the UN Human Rights Council on November 7. Johnson stated that the US federal governments refusal to accept review by the Human Rights Council was an attempt to evade scrutiny. He argued that the Human Rights Council should apply the same accountability standards to the US federal government as it does elsewhere in the world, and that no country is above international law. Johnson called on the Human Rights Council to send independent experts to Chicago to investigate the challenges facing the city; he also urged the Council to take further accountability measures, including convening a special session to investigate the worsening human rights crisis in the United States. The UN Human Rights Council was scheduled to hold its fourth round of Universal Periodic Review (UPR) on November 7, but the US representative refused to attend, preventing the review from proceeding normally. The Human Rights Council adopted a decision that day urging the United States to resume cooperation with the UPR mechanism.Russian Ministry of Defense: Russian troops have occupied the village of Vovche in the Dnipropetrovsk region of Ukraine.

Despite a stable DXY and a hawkish RBNZ stance, NZD/USD bulls tinker around 0.5700

Daniel Rogers

Oct 19, 2022 15:48

截屏2022-10-19 上午11.20.52.png 

 

On Wednesday morning, NZD/USD bulls struggle to keep control during the three-day uptrend, making minor gains above 0.5700. The market's sluggish performance in light of the dormant US Dollar Index (DXY) and the risk-on stance is reflected in this. However, buyers remain upbeat due to the hawkish view for the Reserve Bank of New Zealand's (RBNZ) upcoming action.

 

Following the announcement of New Zealand's (NZ) Q3 Consumer Price Index, several banks increased their favorable forecasts for the RBNZ's upcoming action (CPI).

 

However, against the market's expectation of 1.6% and the prior data of 1.6%, New Zealand's Q3 CPI jumped to 2.2%. The data also showed that the YoY CPI increased to 7.2% from 7.2% earlier and 6.6% as was predicted. The Australia and New Zealand Banking Group (ANZ) said, based on the information: "The RBNZ will need to take action as core inflation continues to remain entrenched and shows no signs of turning the corner. We expect the OCR to rise by 75 basis points to 5% in November and February."

 

The risk-on attitude is also helping the NZD/ascent elsewhere. In keeping with Wall Street's second straight day of gains, USD's S&P 500 Futures rise 0.80% intraday, while the US Dollar Index (DXY) holds steady near 112.00 and US 10-year Treasury yields fluctuate around the 4.00% level.

 

News reports about the battle of Russian forces in Ukraine and UK Chancellor Jeremy Hunt's ability to fend off the impacts of the recession appear to be the main drivers of the recent market optimism.

 

It should be noted that despite risk-on attitude and sluggish Treasury rates, the DXY does not increase in response to improved industrial production and aggressive Fed statements. Neel Kashkari, president of the Minneapolis Federal Reserve Bank, recently said: "Until I see persuasive evidence that core inflation has at least peaked, I am not willing to pause rate hikes."

 

Future Fed speakers will join housing-related secondary US data to thrill NZD/USD speculators. However, barring any risk-averse surprises or unexpected RBNZ pronouncements, the Kiwi-Dollar pair is likely to continue strengthening.

Suggestion