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On September 7, Russian Foreign Ministry spokeswoman Maria Zakharova issued a statement saying that the US deployment of a medium-range missile launch system in Norway is yet another serious destabilizing move by NATO countries. Zakharova said the MK-41 launch system deployed in Norway can launch multi-purpose missiles to strike land and sea targets. The system can launch Tomahawk long-range cruise missiles, and its deployment in the Nordic countries can cover large swathes of Russian territory, including Moscow. Zakharova stated that the US deployment of land-based medium-range missiles in Europe, which threaten Russia, "undermines the foundation for constructive dialogue between Russia and the US on strategic issues."On September 7, local time, Russian Presidential Press Secretary Dmitry Peskov stated that Russia does not rule out resuming trilateral talks with the United States and Ukraine, but the location and timing are still uncertain. Peskov also stated that it is possible that Russian President Vladimir Putin and US President Donald Trump may hold a telephone conversation after the US presidential envoys visit to Moscow and Kyiv. Furthermore, Peskov emphasized that the Kremlin currently has no information regarding the outcome of negotiations between US presidential envoy Sergei Witkov, US President Trumps son-in-law Jared Kushner, and the Ukrainian leadership. When asked about the extent of the differences between the new US proposal and the consensus reached by Russian and US leaders Anchorage, Peskov did not answer.September 7th - Research from the Federal Reserve Bank of New York indicates that the decline in the dollars share of foreign exchange reserves does not reflect a widespread reallocation of dollar holdings, but rather the actions of a few reserve managers. Last year, the dollar accounted for 56% of official currency reserves, down from 64% a decade ago. While this change is often cited as evidence of widespread de-dollarization, Fed researchers say their research shows that the number of countries increasing and decreasing their dollar holdings has been roughly equal over two distinct periods since 2015. Linda S. Goldberg and Sneha Parthasarathy wrote in a blog post last week, "There is little evidence of a widespread trend of official diversification and dollar reduction."On September 7, Iranian Foreign Ministry spokesman Baghae stated that a Qatari delegation visited Tehran on the 6th and held "good talks" with Iranian Foreign Minister Araghchi, discussing issues such as easing regional tensions. According to Irans Fars News Agency on the 7th, Baghae, in response to a question about the Qatari delegations visit, said that Iran hosted delegations from Oman, Pakistan, and Qatar last week. Irans engagement with some regional countries continues, and these countries have been committed to helping to ease tensions.Oman says it has evacuated 16 crew members from the Saudi SIDR vessel, which was attacked by Iran.

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

Daniel Rogers

Apr 20, 2023 13:51

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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.