EUR/USD 1.16229
0.006%
Gold 4432.63
0.462%
Oil 90.792
0.060%
USD/JPY 153.446
-0.584%
GBP/USD 1.35362
-0.029%
GBP/JPY 207.713
-0.607%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 8th, the Bolivian Ministry of Defense announced on social media that the Bolivian Army had recovered a ninth body from the rubble of an explosion at a military camp in Biyazza, western Bolivia, bringing the death toll to nine. The post stated that rescue efforts were ongoing and authorities were investigating the cause of the explosion. According to local media reports, the incident also resulted in 84 injuries and five people missing. Bolivian police reported on the evening of September 4th that an explosion occurred at a military camp in Biyazza.According to the Financial Times: Bankers for Anthropic and OpenAI pushed for top credit ratings after their initial public offerings.On September 8th, Bloomberg reported on September 7th that despite the Trump administrations strong opposition to other countries using Huawei AI chips, Malaysia still leans towards relying on Huawei AI chips to provide computing power for its sovereign AI project. According to anonymous sources, Malaysia is seriously evaluating making Huawei AI hardware the core of a RM2 billion (approximately RMB3.317 billion) plan. This plan aims to give Malaysia greater control over its own data. However, it is unclear how many chips Malaysia will purchase. The report states that if Malaysia does proceed with the adoption of Huawei chips, it will be the first known case of a foreign government formally choosing Chinese AI chips over American products.The Saudi-led coalition in Yemen stated that the Houthi attacks were deliberately designed to harm Saudi Arabias national interests and demonstrate its refusal to achieve peace in Yemen and the surrounding region.International Organization for Migration: Fighting escalates on Yemens west coast, displacing approximately 18,500 people in three days.

Analysis of the NZD/USD Price indicates a continuation of gains towards 0.65

Daniel Rogers

Jan 18, 2023 15:02

 NZD:USD.png

 

The NZD/USD pair is oscillating within a narrow range near 0.6430 in the early Asian session. Despite the market's risk aversion, the New Zealand dollar has traded sideways after reclaiming the monthly high of 0.6437. In reaction to Tom Barkin's hawkish comments about the Richmond Federal Reserve (Fed) Bank, S&P500 futures are exhibiting greater losses, indicating investors' diminishing appetite for risk.

 

Following a V-shaped recovery, the US Dollar Index (DXY) has turned sideways at 102,000 and is expected to extend gains on a risk aversion theme. In addition, higher 10-year US Treasury yields would certainly provide safe-haven investments a new lease of life.

 

After one hour of consolidation, the NZD/USD pair has broken out of the Bullish Pennant chart pattern, indicating that the rising trend will continue. Participants typically initiate long positions during the consolidation period of a chart pattern, preferring to enter an auction once a bullish bias has been established.

 

Adding to the upward filters, the 20-period and 50-period Exponential Moving Averages (EMAs) have resumed their upward trend at 0.6415 and 0.6401, respectively.

 

Meanwhile, the Relative Strength Index (14) continues to struggle to enter the positive zone between 60.00 and 80.00. The occurrence of a similar event will produce bullish momentum.

 

For greater gains, the Kiwi asset must beat Tuesday's high of 0.6439, which will rocket it to December 15's high of 0.6470, then December 13's high of 0.6514.

 

Alternately, a breach below Monday's low of 0.6361 will weaken the New Zealand Dollar and push the Kiwi asset towards January 12's low of 0.6304. A breach below this level will expose the asset to more losses approaching the low of 0.6263 on December 28.

Suggestion