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On September 15th, the Ministry of Industry and Information Technology and the National Development and Reform Commission jointly issued the "15th Five-Year Plan for the Development of the Electronic Information Manufacturing Industry." The plan proposes to consolidate the advantages of the energy electronics industry. It will continue to promote the coordinated development of energy electronics technologies such as photovoltaics, energy storage, terminals, and communications. It will further promote the iterative upgrading of high-efficiency crystalline silicon photovoltaic cell technology, develop next-generation high-efficiency photovoltaic cell technologies and supporting equipment and materials such as perovskite tandem cells, research and promote highly reliable and intelligent photovoltaic modules and intelligent operation and maintenance technologies for photovoltaic systems, and expand "photovoltaic+" application scenarios. It will enhance the innovation capabilities of the entire new battery industry chain, consolidate the competitive advantage of lithium batteries, continue to promote the industrialization of solid-state batteries, sodium batteries, flow batteries, fuel cells, etc., promote the intelligent, green, and integrated development of new batteries, and support the application of new batteries in scenarios such as smart terminals, new energy vehicles, ships, aviation, intelligent robots, construction machinery, and agricultural equipment. It will accelerate the research and development and supply of key power electronics technologies, improve the supply capacity of key core devices and components, and enhance the efficient integration and precise control level of energy storage systems.On September 15th, the Ministry of Industry and Information Technology and the National Development and Reform Commission jointly issued the "15th Five-Year Plan for the Development of the Electronic Information Manufacturing Industry." The plan proposes to promote the research and industrialization of the fifth-generation Reduced Instruction Set Computing (RISC-V) chip and support its application in fields such as artificial intelligence and embedded systems. It also emphasizes deepening collaborative innovation between chips and modules, and strengthening the collaborative design and optimization of algorithms and hardware architecture. The plan aims to consolidate the competitive advantage of communication equipment and accelerate breakthroughs in technologies and products such as high-end data communication, optical communication, mobile communication, satellite communication, and next-generation short-range wireless communication. Furthermore, it promotes the intelligent upgrading of industrial control equipment and constructs an integrated industrial computing system encompassing computing, control, sensing, and transmission. The plan also promotes the high-end development and application of laser equipment, achieving breakthroughs in technologies such as high-performance lasers, ultra-precision laser processing, and precision optomechanical systems. Finally, it guides the digital, integrated, and intelligent development of radar equipment and accelerates its application in emerging fields such as intelligent driving and the low-altitude economy. Finally, it accelerates technological breakthroughs in transfer equipment, improves its flexibility and intelligence, and expands its application to meet the needs of next-generation intelligent manufacturing.Polish Armed Forces: Military air operations have been launched in Polish airspace as Russia launches drone attacks against Ukraine.On September 15th, Judge Thaler of the U.S. District Court for the Northern District of Boston ruled on September 14th to block the U.S. federal government from implementing a new rule that would limit the length of time foreign students and journalists can stay in the United States without applying for an extension. This new rule was originally scheduled to take effect today (September 15th). Thaler pointed out that the Department of Homeland Securitys rationale for issuing this policy was "extremely weak." The agency had previously cited national security needs and the need to prevent fraud in the visa program as justification. However, Thaler noted that the Department of Homeland Security failed to fulfill its legal obligations in formulating the policy—neither responding to concerns that the policy change might raise nor considering other less burdensome alternatives.The yield on Japans 30-year government bonds rose 3.0 basis points to 4.095%.

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.