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June 5th - Lindsay Rosner, Head of Multi-Sector Fixed Income Investments at Goldman Sachs Asset Management, commented on the US non-farm payrolls: Recent data suggests we are increasingly confident that the Federal Reserve does not need to worry about labor market issues. The Fed will "focus on inflation, and ultimately, what will determine the Feds next move will be how long this (Iran) war lasts."June 5th - According to foreign media reports, Mays non-farm payroll data far exceeded market expectations, causing the US interest rate futures market to significantly increase its bets on a Federal Reserve rate hike at its December meeting. According to LSEG data, the interest rate futures market currently projects a 65% probability of a Fed rate hike in December, up from 48% before the jobs report was released. For the June meeting, the market still widely expects the Fed to keep interest rates unchanged in the 3.50% to 3.75% range. The stronger-than-expected jobs data indicates the continued resilience of the US labor market and further weakens market expectations for a near-term rate cut, while strengthening investors assessment that the Fed may resume rate hikes in the future to address inflationary pressures.Market news: Hillhouse Capital is about to complete its acquisition of a stake in LRQA Group, which is backed by Goldman Sachs.June 5th - Analyst Jersey commented on the US non-farm payrolls: Its difficult to describe the job market as weak. For the interest rate market, the risk leans more towards rate hikes, while the likelihood of rate cuts decreases. Kevin Warsh will find it difficult to persuade other members of the Federal Reserves Monetary Policy Committee to lower interest rates. We dont believe a rate hike is imminent, but if we see several more job increases like this, several rate hikes will become our baseline scenario.On June 5th, at the 2026 Qualcomm Automotive Technology and Cooperation Summit, Qualcomm Technologies, together with ecosystem partners including Chemmax Technology, CarLink, Banma Smart, Desay SV, Magnatec, and ThunderSoft, announced the Claw ecosystem plan for automotive AI. Through this plan, Qualcomm Technologies and its ecosystem partners are committed to directly deploying AI agents and multimodal large models to vehicles.

NZD/USD Price Analysis: Protects NZ Inflation-Induced Support Break; 0.6140 in Sight

Daniel Rogers

Apr 20, 2023 13:51

 NZD:USD.png

 

During the mid-Asian session on Thursday, NZD/USD bears maintain control at the lowest levels in five weeks while defending New Zealand (NZ) losses caused by inflation near 0.6160. This justifies not only the weaker-than-anticipated New Zealand inflation, but also the recent break of one-month-old horizontal support, which is now immediate resistance, as well as the bearish MACD signals.

 

As measured by the Consumer Price Index (CPI), the Reserve Bank of New Zealand (RBNZ) policy purists were unpleasantly surprised by New Zealand's (NZ) first-quarter (Q1) inflation. Despite this, the Quarter-over-Quarter change in the New Zealand Consumer Price Index (CPI) decreases from 1.7% and 1.4%, respectively, to 1.2%.

 

Following the publication of disappointing data, the NZD/USD pair breached a one-month-old horizontal support level, which is now acting as a barrier near 0.6170. The bearish MACD signals are now directing NZD/USD traders toward a horizontal support level that has been in place for 1.5 months and is located near 0.6140.

 

If the NZD/USD bears remain dominant above 0.6140, the 2023 low of 0.6085 cannot be ruled out.

 

The 200-day simple moving average hurdle of 0.6220 becomes crucial for NZD/USD investors to return.

 

If the NZD/USD pair remains above 0.6220, a run up to the previous weekly high around 0.6315 and then to the monthly high of 0.6386 cannot be ruled out.


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