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September 4th - According to the Washington Post, the Los Angeles Unified School District, the second-largest public school district in the United States, will ban all students from using generative AI this school year. New York City Public Schools, the largest school district in the U.S., also announced on Wednesday a one-year moratorium on such tools until high school. The Los Angeles Unified School Districts policy was mentioned at a committee meeting on Wednesday regarding the use of AI in schools. In June, the district board had already set limits on screen time based on student age. Regarding these policies, district officials further clarified this week that they will ban all students from using generative AI, regardless of age. Dominic Caguioa, director of educational technology and innovation, told board members at the meeting that the district is now "taking a much stricter approach to content and platforms."Futures News, September 4th: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes on September 4th: 1. Pulp futures warehouse receipts: 398,188 tons, an increase of 1,000 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 2,758 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 7,400 tons, an increase of 1,000 tons compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 23,770 tons, an increase compared to the previous trading day. 6. Petroleum asphalt futures warehouse receipts: 2,730 tons, down 1,000 tons from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 26,100 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 8,330 tons, down 2,000 tons from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.Futures News, September 4th: On September 4th, the Shanghai Futures Exchanges (SHFE) data on precious metals and non-ferrous metals warehouse receipts and changes are as follows: 1. Copper futures warehouse receipts: 25,781 tons, a decrease of 1,777 tons from the previous trading day; 2. Aluminum futures warehouse receipts: 223,717 tons, a decrease of 4,427 tons from the previous trading day; 3. Zinc futures warehouse receipts: 95,367 tons, a decrease of 625 tons from the previous trading day; 4. Lead futures warehouse receipts: 57,742 tons, a decrease of 51 tons from the previous trading day; 5. Nickel futures warehouse receipts: 99,303 tons, a decrease of 294 tons from the previous trading day; 6. 1. Tin futures warehouse receipts: 4,657 tons, down 8 tons from the previous trading day; 2. Alumina futures warehouse receipts: 250,779 tons, up 1,197 tons from the previous trading day; 3. Alumina futures factory warehouse receipts: 9,300 tons, unchanged from the previous trading day; 4. Gold futures warehouse receipts: 114,858 kg, unchanged from the previous trading day; 5. Silver futures warehouse receipts: 1,406,781 kg, up 6,846 kg from the previous trading day; 6. International copper futures warehouse receipts: 7,447 tons, up 26 tons from the previous trading day.September 4th - Data released by TravelSky shows a significant increase in domestic flight bookings for the Mid-Autumn Festival and National Day holidays. As of now, domestic flight bookings for travel dates from September 25th to October 7th have exceeded 3.83 million, representing a year-on-year increase of approximately 17%; international flight bookings have exceeded 1.77 million, representing a year-on-year increase of approximately 11%.September 4th - U.S. retail diesel prices rose to a record high, potentially fueling energy-driven inflation as the wars between Iran and Russia disrupt energy markets. With global supply shortages persisting and the peak demand season approaching, data from the American Automobile Association (AAA) showed that the average price of diesel across the U.S. rose to $5.85 per gallon on Thursday, surpassing the peak reached in June 2022. The rising diesel prices will not only increase the burden on consumers but also pose political challenges to the White House ahead of the U.S. midterm elections, which are just two months away. Furthermore, the continued rise in diesel prices could further hinder the Federal Reserves efforts to curb inflation. In recent weeks, Federal Reserve officials have signaled differing opinions on the necessity of raising interest rates, with the next Fed meeting scheduled for mid-September.

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.