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The main contract for the container shipping index (European route) fell by more than 9.00% during the day, and is currently trading at 1634.0 points.The main Shanghai gold futures contract rose by 2.00% intraday, currently trading at 900.80 yuan/gram.On August 5th, local time, the Security Service of Ukraine (SBU) announced on its website on August 4th that it had struck more than 100 strategic targets in Russia over the past 40 days. The SBU stated that the targets primarily included Russian military-industrial enterprises, air force bases, air defense systems, command posts, ships, "Shadow Fleet" oil tankers, oil refineries, and military logistics facilities, causing significant damage to Russian military equipment and numerous military infrastructure sites. The SBU also stated that it had attacked six military airfields, including Saki, the Guards Village, and Engels, as well as the Yevpatoria Aviation Plant. Several Russian oil refineries, oil depots, oil pumping stations, and oil terminals were also targeted. The SBU added that it will continue its efforts to weaken Russias military and economic potential. Russia has not yet responded to these claims.August 5th - According to South Korean media reports, a forecast indicates that South Korea will maintain its leading position in the global memory chip market until 2031, thanks to significant investments from companies like Samsung Electronics and SK Hynix. However, demand for high-bandwidth memory (HBM) is expected to rapidly expand from Nvidias graphics processing units (GPUs) to AI accelerators developed by large tech companies like Google. Josephine Lou, an industry analyst at the French market research firm Yole Group, stated at the 2026 Future Memory & Storage Conference in California on August 4th that South Korea will maintain its leading position in the memory industry until 2031. Lou pointed out that South Korea plans to double its wafer capacity within the next five years, and Samsung Electronics and SK Hynix have also increased their investments. Analysts indicate that as Samsung Electronics and SK Hynix simultaneously expand their next-generation DRAM (including HBM) and NAND production capacity and technology development, South Koreas advantage will continue.Precious metal futures contracts collectively strengthened, with Shanghai Gold 2610 rising 1.65% to 897.64 yuan/gram. Shanghai Silver 2610 rose 4.85% to 14,790 yuan/kilogram. Platinum 2610 rose 7.72% to 432.25 yuan/gram. Palladium 2610 rose 7.16% to 325.75 yuan/gram.

NZD/USD Price Analysis: Protects NZ Inflation-Induced Support Break; 0.6140 in Sight

Daniel Rogers

Apr 20, 2023 13:51

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During the mid-Asian session on Thursday, NZD/USD bears maintain control at the lowest levels in five weeks while defending New Zealand (NZ) losses caused by inflation near 0.6160. This justifies not only the weaker-than-anticipated New Zealand inflation, but also the recent break of one-month-old horizontal support, which is now immediate resistance, as well as the bearish MACD signals.

 

As measured by the Consumer Price Index (CPI), the Reserve Bank of New Zealand (RBNZ) policy purists were unpleasantly surprised by New Zealand's (NZ) first-quarter (Q1) inflation. Despite this, the Quarter-over-Quarter change in the New Zealand Consumer Price Index (CPI) decreases from 1.7% and 1.4%, respectively, to 1.2%.

 

Following the publication of disappointing data, the NZD/USD pair breached a one-month-old horizontal support level, which is now acting as a barrier near 0.6170. The bearish MACD signals are now directing NZD/USD traders toward a horizontal support level that has been in place for 1.5 months and is located near 0.6140.

 

If the NZD/USD bears remain dominant above 0.6140, the 2023 low of 0.6085 cannot be ruled out.

 

The 200-day simple moving average hurdle of 0.6220 becomes crucial for NZD/USD investors to return.

 

If the NZD/USD pair remains above 0.6220, a run up to the previous weekly high around 0.6315 and then to the monthly high of 0.6386 cannot be ruled out.