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August 16th - According to reports from Australia on the 15th local time, the New South Wales government will launch a gun buyback program. This is the latest measure to tighten gun control in the state following the Bondi Beach shooting in Sydney last year. The program is scheduled to launch on November 2nd, making New South Wales the first state in Australia to implement such a program. It is estimated that approximately 50,000 gun license holders will be affected by the new regulations, involving about 274,000 firearms. Under the buyback program, compensation standards for different types of firearms range from AUD 450 to AUD 1,000 per weapon (approximately RMB 2,150 to 4,780), with a maximum compensation of AUD 10,000 per weapon (approximately RMB 47,800) for some high-value firearms.The China Earthquake Networks Center officially reported that a magnitude 2.8 earthquake occurred at 00:07 on August 16 in Renshou County, Meishan City, Sichuan Province (29.77 degrees north latitude, 104.25 degrees east longitude), with a focal depth of 7 kilometers.On August 16th, the port authority of Mocha, Yemen, announced on Saturday that the port had suspended commercial and maritime operations following an attack by Houthi rebels that fired more than 25 missiles. The port authority official stated at a press conference that the attack resulted in seven deaths and estimated damages of $16 million. Mocha is a Red Sea port located near the Bab el-Mandeb Strait, a strategic chokepoint connecting the Red Sea and the Gulf of Aden and a vital international shipping route. The port is controlled by forces supporting the internationally recognized government of Yemen. Its cargo capacity is smaller than that of Yemens main ports, Aden and Hodeidah.The head of the port of Mocha in Yemen said that the port of Mocha in Yemen ceased operations after the Houthi attack.Domestic News: 1. Total box office revenue (including pre-sales) in August 2026 exceeded 3 billion yuan. 2. From January to July, the national railway system transported 2.8 billion passengers. 3. Unitree Robotics IPO: Grey market trading is based on rumors, and the underlying risks should not be underestimated. 4. Ministry of National Defense spokesperson Jiang Bin answered reporters questions regarding Japanese political figures visits to the Yasukuni Shrine. 5. Ministry of Foreign Affairs spokesperson answered reporters questions regarding Japanese political figures visits to the Yasukuni Shrine, which enshrines Class A war criminals. 6. Minor adjustments to the policy on home purchase replacement for non-Shanghai residents and overseas individuals? The Shanghai Real Estate Transaction Center hotline stated that no new policy has been introduced. International News: 1. Death toll from the Indonesian earthquake rises to 47. 2. Iran and Tajikistan sign a long-term oil cooperation agreement. 3. Hungarian Prime Minister: Ship sinking operations have begun to raise water levels to ensure the operation of nuclear power plants. 4. It is reported that Nvidia has reduced its plan to provide $250 billion in guarantees for OpenAI data centers. 5. Sources: Significant differences exist regarding core interests, leading to a stalemate in Canada-US tariff negotiations. 6. Sources: Anthropic expects revenue to reach $190 billion to $200 billion by 2028. 7. Middle East Situation—① Iranian Foreign Minister: Iran has not yet decided whether to resume negotiations with the US; it has no intention of extending the ceasefire agreement. ② Iran and Oman have reached an agreement on shipping routes through the Strait of Hormuz. ③ Houthi rebels claim Saudi Arabia attacked Saada province in northwestern Yemen. ④ Saudi media: The Yemeni military vowed to respond to the Houthi attack on the port city of Mocha.

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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