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July 14 – The State Council Information Office held a press conference today to introduce my countrys foreign trade performance this year and answer reporters questions. In recent years, China has consistently maintained its position as the worlds largest exporter of sporting goods, accounting for over 40% of global exports. In the first half of the year, my countrys exports of sporting goods and equipment reached 67.53 billion yuan, of which ball sports accounted for 3.08 billion yuan. In the first half of the year, my countrys exports of fitness and rehabilitation equipment such as treadmills reached 26.7 billion yuan, and exports of water sports equipment such as paddleboards reached 4.77 billion yuan. In addition, exports of trendy skateboards, popular among young people, increased by 20.4%. my countrys sporting goods not only maintain a stable market share in traditional markets such as Europe and the United States, but also perform well in emerging markets such as Latin America and Africa. In the first half of the year, my countrys exports of sporting goods to Latin America and Africa increased by 18.9% and 8.1%, respectively.According to the General Administration of Customs, China exported 1.069 million automobiles (including chassis) in June, compared with 988,000 in May.According to the General Administration of Customs, China exported 5.307 million automobiles (including chassis) from January to June.According to the General Administration of Customs, China exported 53.261 million mobile phones in June, compared with 53.436 million in May.According to the General Administration of Customs, China imported 6,261.5 tons of rare earths in June, compared with 6,770.2 tons in May.

AUD/NZD Price Analysis: Bulls Surpass 1.0790 Resistance Confluence Due To Positive Australian Employment Report

Alina Haynes

Apr 13, 2023 14:19

 AUD:NZD.png

 

AUD/NZD supporters are approaching their highest levels since early March as a result of a four-day uptrend following Thursday morning's release of robust Australian employment data. At the time of publication, the currency pair is accepting bids to reestablish the multi-day high near 1.0810.

 

The Australia Bureau of Statistics (ABS) reported for the month of March that Employment Change increased by 53K compared to 20K expected and 64.6K previously, while the Unemployment Rate remained unchanged at 3.6% compared to expectations of 3.6%. In addition, the Participation Rate rose to 66.7%, exceeding the 66.7% predicted by the market.

 

The AUD/NZD pair surpassed the previous critical resistance confluence surrounding 1.0790, which was comprised of the 100-day moving average (DMA) and a one-month-old downward trend line.

 

The bullish MACD signals and stronger, non-overbought RSI (14) line contribute to the strength of the upside bias.

 

The AUD/NZD bulls are currently positioned to test the 50-day moving average of 1.0824. However, the preceding monthly apex of about 1.0895 and the round number 1.0900 may limit future gains.

 

Alternately, retracement remains elusive until the AUD/NZD pair remains above the support-turned-resistance level of 1.0790.

 

Then, a breach of the upward-sloping trend line from March 5 and the 61.8% Fibonacci retracement level of the pair's run-up from December 2022 to February 2023, located near 1.0705, could give the bears room to maneuver in their subsequent analysis.


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