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March 1 – On March 1, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, spoke by phone with Russian Foreign Minister Sergey Lavrov at the latters request. Wang Yi stated that, with the encouragement of China and Russia, the UN Security Council held an emergency meeting yesterday regarding the current situation in Iran. Chinas position is: First, an immediate cessation of military action. This is to prevent the spread and spillover of conflict and to avoid the situation escalating to an uncontrollable point. China values the security of the Gulf states and supports their restraint. Second, a swift return to dialogue and negotiation. All parties should strongly advocate for peace and urge the parties involved to return to the path of dialogue and negotiation as soon as possible. Third, a joint opposition to unilateral actions. Attacking sovereign states without authorization from the UN Security Council undermines the foundation of peace established after World War II. The international community should send a clear and unambiguous voice against the world regressing to the law of the jungle.On March 1st, HuaAn Fund Management Co., Ltd. announced that the HuaAn S&P Global Oil Index Securities Investment Fund (LOF) (ticker symbol: Oil Fund LOF, trading code: 160416) will be suspended from trading from the opening of the market on March 2nd, 2026 until 10:30 AM on the same day, and will resume trading at 10:30 AM on March 2nd, 2026. This suspension is a temporary measure taken to protect investors interests and warn of trading risks due to a significant premium in the secondary market trading price. If the premium does not effectively decrease, the fund has the right to apply to the Shenzhen Stock Exchange for a temporary intraday suspension or an extension of the suspension period, subject to the announcement at that time.On March 1, Mehdi Tabatabae, the deputy head of the Iranian presidential office responsible for press and communications, said that Iranian President Pezechzian was safe. He wrote on social media, "President Pezechzian is safe and sound." On the same day, Pezechzian issued a statement regarding the death of Iranian Supreme Leader Khamenei, stating that Irans revenge against the United States and Israel was "its duty and legitimate right," and that it would "do everything in its power to fulfill this important responsibility."The Iraqi Civil Aviation Authority has extended the airspace closure by 24 hours.According to a Hong Kong Stock Exchange announcement, Geely Automobile sold 206,160 vehicles in February, representing a year-on-year increase of approximately 1%.

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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