EUR/USD 1.17455

USD/JPY 156.670

GBP/USD 1.34732

GBP/JPY 211.060

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January 1 - According to TASS on December 31, 2025, Russian Armed Forces Chief of the General Staff Gerasimov conveyed President Putins instructions during an inspection of the Northern Army Group that day to continue expanding the "safe zone" in the Sumy and Kharkiv regions of northeastern Ukraine in 2026 to ensure the safety of civilians in the bordering Belgorod and Kursk regions of Russia.January 1st - According to the China Development Bank (CDB), in 2025, CDB issued RMB 1.16 trillion in loans for urban construction, serving the improvement of urban functions and quality and the living environment. As of the end of 2025, CDBs outstanding loans in the urban construction sector reached RMB 6.3 trillion.January 1 - According to the U.S. Geological Survey Earthquake Information Network, a magnitude 6.0 earthquake struck the southern Indian Ocean on January 1, 2026. The epicenter was located at 45.67 degrees south latitude and 96.32 degrees east longitude, with a focal depth of 10.0 kilometers.January 1st - The National Data Work Conference was held in Beijing from December 29th to 30th. Zheng Shanjie, Secretary of the Party Leadership Group and Director of the National Development and Reform Commission (NDRC), attended the conference and delivered a speech. Liu Liehong, member of the Party Leadership Group of the NDRC and Director of the National Data Bureau, delivered a work report. Zheng Shanjie pointed out that in 2026, it is crucial to accurately grasp the new situation and requirements of data work, seize development opportunities, and focus on the goals and tasks of building a digital China, solidly promoting the high-quality development of the data sector. It is imperative to fully tap the potential of the digital economy, promote innovation in digital technology and services, optimize the software and hardware environment for digital consumption, and cultivate and strengthen the data industry. It is essential to adhere to both policy support and reform and innovation, emphasize planning guidance, improve and perfect the legal and regulatory system in the data field, and accelerate the cultivation of an open, shared, and secure national integrated data market. It is necessary to adhere to the close integration of investment in things and investment in people, take multiple measures to stimulate investment vitality, and accelerate the training of digital talent. It is essential to achieve both "flexible deregulation" and "effective management," coordinating high-quality development and high-level security in the data field. It is crucial to strengthen internal capabilities to meet external challenges and create a favorable external environment for data development.January 1st - President Trump has postponed tariff increases on upholstered furniture, kitchen cabinets, and bathroom vanities, slowing the pace of his tax increases, as voter discontent over price levels continues to escalate. On Wednesday evening, as Trump hosted his New Years Eve party at his Mar-a-Lago resort in Florida, the White House released a fact sheet regarding the presidential proclamation. According to the list, the higher tariffs, originally scheduled to take effect this Thursday, have been postponed until January 1, 2027. According to a proclamation released in September, Trump originally planned to raise tariffs on "certain wood-based upholstered products" from 25% to 30% and significantly increase tariffs on kitchen cabinets and bathroom vanities from 25% to 50% starting January 1st. The White House stated that the proclamation signed on Wednesday delayed this move, and the existing 25% tariffs will remain in place. The fact sheet indicates that the United States "continues productive negotiations with its trading partners regarding trade reciprocity and national security concerns regarding timber product imports," suggesting that these negotiations may reach an agreement, further delaying the imposition of the new tariffs.

NZD/USD finds support near 0.6220; a decline appears more probable due to China's Covid concerns

Alina Haynes

Nov 28, 2022 15:04

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China's anti-Covid shutdown protests have weakened commodity-linked currencies, resulting in a gap-down start of roughly 0.6220 for the NZD/USD pair. During the previous week, the New Zealand dollar dropped after failing to surpass the round-level barrier of 0.6300.

Individuals have taken to the streets in China to demonstrate their opposition against the zero-tolerance policy, leading to a rise in civil unrest. Due to Chinese leader Xi Jinping's conservative posture and authoritarian framework, global markets have become more risk-averse. This has created an economic expansion risk and may worsen the already shaky housing market. Increasing apprehensions about societal risks may also result in political instability, which may have long-lasting detrimental effects on economic structure.

Notably, New Zealand is one of China's most important trading partners, and instability in China could damage the New Zealand Dollar.

In the meantime, the US Dollar Index (DXY) is profiting from investors' liquidity as the demand for safe-haven assets surges. The USD Index is hovering around 106.20 and attempting to reduce volatility as China's anti-locking protests restrict the upside and predictions of a slowdown in the Federal Reserve's larger rate hike cycle limit the downside (Fed).

S&P500 futures are under heavy pressure from market players due to a risk-averse market mentality. In anticipation of Fed chief Jerome Powell's address on Wednesday, yields on 10-year US Treasuries have decreased to approximately 3.68 percent. The Fed Chair's speech could dispel suspicions about a pause to the Fed's current rate-hiking program.