EUR/USD 1.13040
0.128%
Gold 3233.45
-0.138%
Oil 58.264
-0.717%
USD/JPY 144.978
-0.276%
GBP/USD 1.32769
-0.004%
GBP/JPY 192.489
-0.239%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
European Mediterranean Seismological Center: A magnitude 5.4 earthquake occurred in western Texas, with a focal depth of 10 kilometers.On May 4, Musks SpaceX headquarters in southern Texas, Starbase, is about to become an official city. On Saturday local time, a vote to officially register the Starship Base as a Texas autonomous city was passed overwhelmingly. Most of the 283 eligible voters in the area are SpaceX employees. The base is the launch base for SpaceXs cooperative project with the U.S. Department of Defense and NASA, aiming to send astronauts to the moon and even Mars. Musk first proposed the idea of a star base in 2021, and there was no suspense about the approval this time. This victory means a lot to Musk. The billionaires reputation has fallen since he became the "spokesperson" of Trumps federal layoffs plan, and Teslas profits have shrunk significantly. SpaceXs employment and investment in the area have generally been widely supported by local officials. But the proposal to build a city has also attracted criticism, who worry that it will expand Musks personal control over the area and may have the power to close a popular beach and state park for launches.On May 4, according to The Information, Apple (AAPL.O) plans to adjust the release rhythm of its iPhone next year to cope with its increasingly large product line. It is reported that Apples first foldable iPhone is expected to be released in the fall of 2026 with the iPhone 18 Pro series and "Air" series models. At the same time, the standard version of the iPhone 18 will be postponed to the spring of 2027 and released together with the subsequent models of the iPhone 16e. Apples current product line has expanded to six iPhone models. With the addition of foldable models, the company needs to re-plan its product release schedule to ensure that the management and marketing of the product line are more efficient. The report pointed out that Apples first foldable iPhone will adopt a book-like folding form rather than a clamshell design. The screen size of this model is 5.7 inches when folded, and the screen size will be close to 8 inches when unfolded.May 3, local time, Russian Presidents Press Secretary Peskov said at a press conference that Russia expects Ukraine to take actions to ease the situation during the ceasefire in May. Peskov pointed out that Ukraines response to the ceasefire initiative "is a test of its readiness for peace" and Russia is testing whether Kiev is ready to achieve sustainable long-term peace.Berkshire Hathaway Chairman Abel: Imagine holding Japanese trading companies (stocks) for at least 50 years, or forever.

NZD/USD falls toward 0.6100 as Vice President Joe Biden aims to raise taxes on the rich and China's CPI is in focus

Daniel Rogers

Mar 09, 2023 14:01

 NZD:USD.png

 

The NZD/USD pair was unable to recapture the crucial resistance level of 0.6120 during the Asian session. The New Zealand dollar is falling toward the round-number support of 0.6100 as the news that US President Joe Biden has proposed increasing the corporate tax rate from 21% to 28% has bolstered bearish market sentiment.

 

US Vice President Joseph Biden proposes a 25% tax on billionaires and steep levies on affluent investors. He has also proposed a 39.6% tax on incomes over $400,000 in the budget. The United States' fiscal policy appears to be kicking in to prevent the Consumer Price Index (CPI) from flexing its muscles further. By diminishing market liquidity, higher taxes may have a significant effect on consumer spending.

 

As a consequence of the news that wealthy Americans will be taxed more heavily, the S&P 500 futures are also under duress. The futures for the 500 largest U.S. stocks are falling during the Asian session. It appears that market participants will use Wednesday's insignificant recovery move as a selling opportunity.

 

In response to Vice President Biden's proposal for higher tariffs, the US Dollar Index (DXY) may experience some upward movement. The USD Index is presently hovering above 105.20 and is anticipated to resume its upward trend.

 

This week, the US Nonfarm Payrolls (NFP) data will remain in the spotlight. According to the consensus, the US economy added 203K new employment in February, which is less than the previous record-breaking release of 517K. The unemployment rate is anticipated to remain unchanged at 3.4%. Investors are concerned about the Average Hourly Earnings data, which is expected to increase to 4.8% on an annual basis from the previous release of 4.4%. An increase in the labor cost index will increase the likelihood of the Federal Reserve raising interest rates more significantly (Fed).

 

Investors are keeping an eye on China's Consumer Price Index (CPI) data. China's CPI is anticipated to decrease to 1.9% from the previous annual rate of 2.1%. The monthly CPI is expected to decrease to 0.2% from the previous release of 0.8%. If inflation declines, the Chinese government and the People's Bank of China (PBOC) may be forced to infuse more liquidity into the economy.

 

Notably, New Zealand is one of China's primary trading partners, and an increase in liquidity in the Chinese economy will increase demand for the New Zealand Dollar.


Suggestion