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NATO Secretary General Rutte: The US military buildup in Europe will be carried out gradually and in an orderly manner.On May 20th, according to Irans Tasnim News Agency, Iranian military spokesman Mohammad Akraminia emphasized the armys state of readiness in a speech on Tuesday. He stated that the army has treated the "ceasefire period" as a "wartime period" and has used this opportunity to enhance its combat capabilities. Regarding hostile forces, the spokesman stated that Iran will never be besieged or defeated. He warned that if the enemy makes another foolish move and falls into the Jewish trap again, launching another invasion of Iran, then the country will open new fronts to confront them through new means and methods. At the same time, he emphasized the Iranian armed forces control of the Strait of Hormuz, stating that the situation in this strategic waterway cannot return to its previous state. He said, "The only way out for the enemy is to respect the Iranian nation and respect Irans legitimate rights."NATO Secretary General Rutte: Discuss ensuring sustainable long-term support for Ukraine.NATO Secretary General Rutte: NATO needs to break free from its unhealthy dependence on a single ally.On May 20th, Cornwall Insights, a UK-based energy consultancy, released a report on May 19th forecasting household energy price ceilings for July to September 2026. The report stated that rising energy prices due to the Middle East conflict could increase the annual energy expenditure ceiling for UK households by 13%. According to the final forecast, a UK household using both gas and electricity could see its annual energy bill reach as high as £1,850 (approximately US$1.339 per pound), up from a previous forecast of £1,641. The report points out that the main reason for the energy price increase is the sharp rise in global energy prices following the outbreak of the Middle East conflict. Although the temporary ceasefire has somewhat mitigated market volatility, prices remain high. The report predicts that even if the conflict ends immediately, the damage to infrastructure and supply chain disruptions will have a lasting impact, making it difficult for the UK household energy cost ceiling to fall back to April levels this autumn.

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.


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