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August 18th - In recent years, the industrialization of sodium-ion batteries in my country has accelerated, leading to rapid industry development. With the continuous iteration and improvement of battery safety standards, the nail penetration test, as a core test simulating mechanical abuse and verifying the risk of internal short circuits within the cell, has become a key indicator for power battery safety assessment. Currently, sodium-ion battery technology is rapidly industrializing, and products are continuously upgrading towards higher energy density and higher integration. To this end, the Lithium-ion Battery and Similar Product Standards Working Group of the Ministry of Industry and Information Technology has officially launched a special preliminary assessment of sodium-ion battery nail penetration testing, covering products of different energy densities to conduct systematic safety verification, helping companies to identify potential safety hazards in advance, optimize product design, and support the unified implementation of industry standards.August 18th - Due to heightened uncertainty both domestically and internationally, and continued weak demand for labor, UK employers further increased job cuts in July. Data released by the Office for National Statistics (ONS) on Tuesday showed that the number of employees in businesses fell by 13,000 in July, following a similar decline the previous month. The UK unemployment rate remained unchanged at 4.9% in the three months to June, but the ONS warned that the quality of the data had declined due to errors in the data collection process. The number of job vacancies decreased further. Although some recent data suggests the job market is stabilizing, businesses appear reluctant to hire due to increased uncertainty surrounding the Iran war and the upcoming budget from new Prime Minister Burnham later this year. For nearly two years, jobs have been declining due to a weak economic environment and the Labour governments increases in payroll tax and minimum wage. The ONS stated that private sector wage growth, excluding bonuses, slowed to 2.8% in the three months to June from 2.9%, the lowest level in nearly six years.August 18 - According to the Iranian news agency IRNA, the mayor of Minabu, Iran, stated that the construction of the largest science and electronics center in southern Iran will commence in the city, with an investment of 700 billion rials. This project is expected to bring significant changes to the countrys science and electronics infrastructure and local employment.The European-Mediterranean Seismological Centre reports a 6.1-magnitude earthquake that struck Sumatra, Indonesia.Euro Stoxx 50 futures fell 0.47%, German DAX futures fell 0.42%, and UK FTSE futures rose 0.07%.

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.

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