EUR/USD 1.19285
-0.352%
Gold 5206.30
-3.164%
Oil 64.061
-1.810%
USD/JPY 153.975
0.567%
GBP/USD 1.37558
-0.387%
GBP/JPY 211.816
0.189%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
WHO: No travel and trade restrictions are needed after India reports two cases of Nipah virus.WHO: The risk of Nipah virus spreading from India is low.Japans Ministry of Economy, Trade and Industry reported that crude oil imports in Japan increased by 17.7% year-on-year in December, gasoline sales increased by 2.4% year-on-year, and refined oil product sales increased by 2.3% year-on-year.On January 30th, during Asian trading hours, long-term US Treasury bonds were sold off due to market speculation that US President Trump would nominate former Federal Reserve Governor Kevin Warsh to be the next Federal Reserve Chairman, and that he would push for a reduction in the Feds bond holdings. Several foreign media outlets have reported that Warsh met with Trump at the White House on Thursday, and the White House is preparing for Warshs nomination. Damien Boey, portfolio strategist at Wilson Asset Management in Sydney, said, "Warsh has publicly stated that he prefers lower interest rates. But his trade-off for lowering interest rates is that he wants the Fed to shrink its balance sheet." Boey pointed out that long-term bonds are particularly vulnerable to the impact of the Feds balance sheet reduction because it means that the central banks support in the money market may weaken.On January 30th, major Hong Kong stock indices opened lower and declined in the morning session, experiencing a slight rebound before continuing to fluctuate at low levels. By midday close, the Hang Seng Tech Index was down 1.79%, and the Hang Seng Index was down 1.78%. In terms of sectors and individual stocks, precious metals stocks collectively declined, with Chifeng Gold (06693.HK), Shandong Gold (01787.HK), Long Resources (01712.HK), and Zijin Gold International (02259.HK) all falling by more than 10%. The pharmaceutical sector also performed poorly, with CSPC Pharmaceutical Group (01093.HK) falling 12.54%, and Fosun Pharma (02196.HK) and China Biopharmaceutical (01177.HK) falling by more than 2%. Education stocks strengthened in the morning session, with China Spring (01969.HK) rising nearly 70% and New Oriental (09901.HK) rising 3.56%.

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