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On January 16, Nomura issued a report stating that it raised Haidilaos (06862.HK) target price by 7.9% from HK$15.1 to HK$16.3, and maintained a "buy" rating. Nomura pointed out that Haidilaos same-store sales pressure in the second half of fiscal year 2024 lies in the high base, and it has better profit margins under cost tailwinds. It is expected that Haidilaos net profit growth in the second half of fiscal year 2024 will be steady at 13% year-on-year. Revenue in the second half of the year increased by 2% year-on-year, benefiting from low single-digit year-on-year growth in same-store sales. On the positive side, Nomura expects Haidilaos average selling price (ASP) to improve by 1 percentage point year-on-year. At the same time, although Haidilao has accelerated the opening of new stores and opened 50 new stores in the second half of 2024, its store expansion rate is worse than expected. Nomura expects Haidilaos operating profit margin to improve year-on-year and on a half-year basis due to cost tailwinds and better operating efficiency.January 16, 2019 - The yen strengthened against G10 and Asian currencies in early trading as expectations of a Bank of Japan rate hike rose. "The Bank of Japan has signaled that it will raise rates at its January meeting," said Marcel Tilliente, head of Asia Pacific at Capital Economics. He noted that Japanese economic data released since the December meeting confirmed that the Bank of Japan is about to raise rates further. Given the Bank of Japans recent market communications, Capital Economics has brought forward its forecast for the Bank of Japans next 25 basis point rate hike from March to next weeks meeting.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: Gasoline prices will continue to be lowered.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: Consider expanding Japans disaster prevention budget.The Bank of Japan is said to believe there is a high possibility of a rate hike in January.

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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