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On September 9th, the Shanghai Futures Exchange (SHFE) reported the following changes in warehouse receipts for various commodities: 1. Stainless steel warehouse futures receipts: 72,020 tons, a decrease of 306 tons from the previous trading day; 2. Low-sulfur fuel oil warehouse futures receipts: 3,440 tons, a decrease of 2,050 tons from the previous trading day; 3. Medium-sulfur crude oil futures receipts: 2,961,000 barrels, unchanged from the previous trading day; 4. Rebar warehouse futures receipts: 78,146 tons, unchanged from the previous trading day; 5. Petroleum asphalt plant warehouse futures receipts: 17,490 tons, unchanged from the previous trading day; 6. Petroleum asphalt warehouse futures receipts: 2,730 tons, unchanged from the previous trading day; 7. Alumina futures receipts: 276,276 tons, an increase of 7,774 tons from the previous trading day; 8. International copper futures receipts: 7,447 tons, an increase of 26 tons from the previous trading day; 9. Gold futures warehouse receipts totaled 114,843 kg, a decrease of 15 kg from the previous trading day; 10. Hot-rolled coil futures warehouse receipts totaled 214,190 tons, a decrease of 295 tons from the previous trading day; 11. Copper futures warehouse receipts totaled 21,009 tons, a decrease of 403 tons from the previous trading day; 12. Lead futures warehouse receipts totaled 58,291 tons, an increase of 549 tons from the previous trading day; 13. Pulp warehouse futures warehouse receipts totaled 413,469 tons, an increase of 2,495 tons from the previous trading day; 14. Pulp mill warehouse futures warehouse receipts totaled 20,000 tons, unchanged from the previous trading day; 15. Butadiene rubber futures warehouse receipts totaled 24,660 tons, a decrease of 290 tons from the previous trading day; 16. TSR20 rubber futures warehouse receipts totaled 12,196 tons, unchanged from the previous trading day; 17. Aluminum futures warehouse receipts totaled 215,319 tons, a decrease of 1,858 tons from the previous trading day; 18. Fuel oil futures warehouse receipts totaled 1,000 tons, a decrease of 11,320 tons from the previous trading day; 19. Natural rubber futures warehouse receipts totaled 143,800 tons, unchanged from the previous trading day; 20. Zinc futures warehouse receipts totaled 92,382 tons, an increase of 785 tons from the previous trading day; 21. Silver futures warehouse receipts totaled 1,397,193 kg, a decrease of 7,716 kg from the previous trading day; 22. Nickel futures warehouse receipts totaled 98,651 tons, a decrease of 528 tons from the previous trading day; 23. Tin futures warehouse receipts totaled 5,598 tons, an increase of 270 tons from the previous trading day.The yield on German two-year government bonds reached 3.0138%, the highest level since June 2024, rising 3 basis points on the day.The onshore yuan closed at 6.7079 against the US dollar at 16:30 on September 9, up 29 points from the previous trading day.September 9th - The State Council Information Office will hold a press conference on the theme of "Starting the 15th Five-Year Plan" at 3:00 PM on Thursday, September 10th, 2026. Lu Lei, Vice Governor of the Peoples Bank of China; Cong Lin, Vice Director of the State Financial Regulatory Commission; Li Chao, Vice Chairman of the China Securities Regulatory Commission; and Li Bin, Spokesperson and Deputy Director of the State Administration of Foreign Exchange, will introduce the implementation of the 15th Five-Year Plan in the financial sector and the promotion of building a strong financial nation, and answer questions from reporters.German Chancellor Merz: Achieving an economic growth rate of 1.3% in 2026 shows that our initial measures are working. We are on the right track.

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.