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On April 16th, Zhang Jun, Tencents Public Relations Director, announced the official release and open-sourcing of HY-World 2.0, a 3D world model. It allows users to generate 3D assets with a single line of code and directly import them into game development or embody simulation engines, achieving true playability and usability.On April 16th, Krishna Bimwalap, Asia-Pacific economist at Stick Investment Management, stated that Australias labor market remained strong in March, but its remarkable resilience is unsettling, as it further underscores the need for further interest rate hikes. The Reserve Bank of Australia (RBA) may not be overly concerned if the unemployment rate rises from 4.3% to 5.0%, meaning it has ample room for further rate hikes. Bimwalap believes there is at least two more rate hikes this year.On April 16th, Mao Shengyong, Deputy Director of the National Bureau of Statistics, stated at a press conference held by the State Council Information Office that the economic performance in the first quarter was remarkable, fully demonstrating the strong resilience of my countrys economy. Data shows significant improvements on both the supply and demand sides. Agricultural production was performing well, industrial added value increased by 1.1 percentage points year-on-year, and the service sector maintained rapid growth. On the demand side, the year-on-year growth rate of total retail sales of consumer goods in the first quarter was 0.7 percentage points higher than the previous year, fixed asset investment growth turned positive, and the total import and export volume of goods achieved its highest quarterly growth rate in nearly five years. Given the high economic growth rate in the first quarter of last year, the fact that the economy has still achieved a good start this year fully demonstrates the resilience of the Chinese economy.Japanese Finance Minister Satsuki Katayama: The G7 believes there is no urgent need to coordinate actions on private credit.According to the National Bureau of Statistics, in the first quarter, 200.26 million hogs were slaughtered, up 2.8% year-on-year; and the number of hogs in stock at the end of the quarter was 423.58 million, up 1.5%.

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.