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On December 30th, the first plenary meeting of the 8th Risk Management Professional Committee of the Securities Association of China was held in Beijing. The committee members unanimously agreed that they should closely follow the strategic deployment of the financial sector in the "15th Five-Year Plan," earnestly carry out various tasks related to risk prevention, strengthening supervision, and promoting high-quality development, and continuously improve the self-regulatory rules system. They should steadily promote the revision of risk management systems in light of new trends and changes in market and industry development, establishing a comprehensive, clearly structured, and efficient self-regulatory rules system; strengthen risk prevention and control in key areas; focus on areas with frequent industry risks, identify difficulties in risk management, summarize and promote advanced experiences, and promote the overall improvement of the industrys risk management capabilities. Going forward, the Association will further leverage the committees functions to promote the continuous improvement of the industrys comprehensive risk management system, guide securities companies to transform towards proactive risk control, improve the industrys risk management level, and contribute to the high-quality development of the securities industry and capital market during the "15th Five-Year Plan" period.U.S. Redbook retail sales annualized for the week ending December 27 were 7.6%, compared to 7.2% previously.The U.S. October FHFA House Price Index (month-on-month) and the S&P/CS 20-City Composite Home Price Index (year-on-year, unadjusted) will be released in ten minutes.The UK FTSE 100 index hit a new record high and is currently up 0.65%.On December 30, Iranian President Peskov responded to recent threats from the United States and Israel on social media, stating that "the Islamic Republic of Irans response to any brutal aggression will be severe and regrettable." US President Trump met with visiting Israeli Prime Minister Netanyahu at Mar-a-Lago in Florida on December 29. He threatened that if Iran attempts to rebuild its ballistic missile program, the US will support Israel in launching another attack on Iran.

NZDUSD is negative below 0.5900 despite the introduction of USD buying

Alina Haynes

Nov 07, 2022 17:58

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Following a modest bearish gap opening to the 0.5855-0.5850 range on Monday, the NZDUSD pair experiences some buying, but is unable to capitalize on the move. Spot prices retreat a few pips from the day's high and continue on the defensive below the 0.5900 mark as the US Dollar recovers minor territory at the start of the European session.

 

On the first day of the new week, the USD regains some upward momentum and recovers a bit of Friday's fall following the announcement of the NFP. In fact, the monthly US jobs report's mixed results fueled rumors that the Federal Reserve may slow the pace of future rate hikes, which weighed heavily on the US dollar. Nonetheless, higher US Treasury bond yields and a softer tone help limit dollar losses and act as a drag for the NZDUSD pair.

 

Concerns of headwinds stemming from China's intention to maintain its economically harmful zero-COVID policy have weakened investor confidence. This occurs in the midst of the protracted Russia-Ukraine conflict and leads to escalating fears regarding the worsening global economic crisis. Even from a technical perspective, bullish traders should be mindful of the emergence of fresh selling ahead of the middle of the 0.59 range. Before positioning for any significant NZDUSD pair gain, it is prudent to await sufficient follow-through buying.

 

The United States is not anticipated to release any market-moving economic data, leaving the USD vulnerable to US bond yields. Aside from this, traders will take cues from the overall risk sentiment of the market in order to capitalize on short-term opportunities involving the risk-sensitive New Zealand dollar. However, the mixed underlying environment may cause short-term traders to remain on the sidelines until the release of the latest US consumer inflation data on Thursday.


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