EUR/USD 1.15954
-0.135%
Gold 4348.43
0.740%
Oil 97.119
-3.390%
USD/JPY 153.683
-0.474%
GBP/USD 1.35260
0.113%
GBP/JPY 207.876
-0.364%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to Saudi Arabias Al Arabiya television, Egypt claims that the attack on Saudi Arabia is a serious violation of international law.According to Saudi Arabias Al Arabiya television, Egypt has condemned the attacks against Saudi Arabia.Russia claims it has struck a Ukrainian metallurgical company that produces metals used in military equipment.On September 12th, CICC Research pointed out that the US August CPI rose 0.4% month-on-month (0.1% in the previous month) and 3.4% year-on-year (3.4% in the previous month); core CPI rose 0.3% month-on-month (0.2% in the previous month) and 2.4% year-on-year (2.5% in the previous month), slightly higher than market expectations. The month-on-month rebound in inflation was mainly due to rising energy prices, telecommunications price increases, and continued inflationary pressure from AI. CICC believes that this CPI report has reached the threshold for the Federal Reserve to raise interest rates, and therefore expects the Fed to raise interest rates by 25 basis points at its meeting on September 16th. In addition, the Fed may lower the unemployment rate and raise its inflation forecast, and the dot plot may raise the interest rate path for 2027 and 2028, signaling a longer period of tightening. A more hawkish risk scenario is that there will be another rate hike this year or next year. If this occurs, the market may repric a longer-term rate hike cycle.September 12th - On September 12th, the Beijing-Xiongan Express Line, constructed and managed by Xiongan Group Rail Transit Company, officially commenced full-line trial operation. As a landmark project of the Beijing-Xiongan one-hour metropolitan area, this full-line trial operation marks a crucial step towards the integrated operation of the Beijing-Xiongan Express Line and the Beijing Subway Daxing Airport Line, accelerating the transformation of the "Beijing-Tianjin-Hebei on Rails" from blueprint to reality.

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

Daniel Rogers

Apr 20, 2023 13:51

 NZD:USD.png

 

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.


Suggestion