EUR/USD 1.18946

USD/JPY 154.408

GBP/USD 1.36390

GBP/JPY 210.593

English
简体中文
繁體中文
Tiếng Việt
ไทย
Indonesia

Subscribe

Real-time News

The U.S. Treasury Department authorized Venezuelas state-owned oil company (PDVSA) to conduct certain activities in Venezuela.Conflict Situation: 1. According to RIA Novosti: Russian troops have taken control of the Zalitznichny region of Zaporizhia, Ukraine. 2. Russia stated that one of the two external power lines supplying the Zaporizhia nuclear power plant has been cut off. 3. Ukrainian energy company DTEK stated that the Russian attack damaged its energy facilities in the Odessa region. Peace Negotiations: 1. Kremlin: The specific date for the next round of negotiations on the Ukraine issue has not yet been set. 2. Kremlin spokesman Peskov: There is a possibility that Russia and France can quickly establish a high-level dialogue. 3. EU High Representative for Foreign Affairs and Security Policy Kalas said on Tuesday that a list of concessions demanded from Russia will be drafted as part of resolving the conflict in Ukraine. Other Situations: 1. US Treasury Secretary Bessenter: Optimistic about the situation in Russia and Ukraine. 2. Zelensky signed a presidential decree allowing contract-based military service for personnel over 60 years of age. 3. US Trade Representative Greer: India has begun to gradually reduce its energy purchases from Russia. 4. Kremlin: Russian President Putin and the South African President discussed the Ukraine issue.The API crude oil inventory data for the week ending February 6 will be released in ten minutes.February 11th - According to the Wall Street Journal, Trump administration officials have discussed whether to seize more oil tankers carrying Iranian oil to further pressure Tehran. However, due to concerns about a near-certain Iranian retaliation and its impact on the global oil market, US officials stated that no action has been taken yet. If the US takes action to prevent other sanctioned vessels from loading oil in Iran, it will squeeze Tehrans main source of revenue. This move would expand the White Houses aggressive strategy implemented in the Caribbean last December. However, some officials say that this option, as one of several ways the White House is pressuring Tehran to reach an agreement limiting its nuclear program, faces numerous obstacles, with seizures even being seen as an act of war. In response to the escalating US strikes, Iran is likely to retaliate by seizing oil tankers belonging to US allies in the region, or even laying mines in the Strait of Hormuz. Either move could cause a sharp rise in oil prices and risk a political storm for the White House.The Dow Jones Industrial Average rose 52.27 points, or 0.10%, to close at 50,188.14 on Tuesday, February 10; the S&P 500 fell 23.02 points, or 0.33%, to close at 6,941.80; and the Nasdaq Composite fell 136.20 points, or 0.59%, to close at 23,102.47.

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

截屏2022-11-28 上午10.39.08.png

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.