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On April 20th, six departments, including the Zhuhai Municipal Housing and Urban-Rural Development Bureau, issued a notice on optimizing and adjusting the citys real estate policies. The notice proposes optimizing housing provident fund loan policies. First, it increases the maximum housing provident fund loan amount. For eligible families with single or dual contributors, the maximum individual housing provident fund loan amount is increased from 800,000 yuan to 1 million yuan and from 1.3 million yuan to 1.5 million yuan, respectively. Second, it expands support for families with multiple children purchasing homes. For families with multiple children applying for a provident fund loan to purchase a second owner-occupied home, the loan amount can be increased by 20% on top of the available loan amount, but not exceeding the citys maximum provident fund loan limit. Third, it increases the upward adjustment ratio for loans to purchase green buildings. For employees who contribute to the housing provident fund and purchase commercial housing that meets the national standard for two-star green building or has been identified as a prefabricated building project, the loan amount can be increased by 20% on the basis of the available loan amount, but shall not exceed the maximum limit of housing provident fund loans in our city; for those who purchase commercial housing that meets the national standard for three-star green building, the loan amount can be increased by 30% on the basis of the available loan amount, but shall not exceed the maximum limit of housing provident fund loans in our city.CEO of chemical company Fertiglobe: Nitrogen fertilizer prices may rise further.Market news: The U.S. State Department announced the suspension of all consular services in Iraq and stated that some factions within the Iraqi government are providing cover for "Iranian-allian-linked Iraqi terrorist militias."April 20 - The Japan Meteorological Agency revised the magnitude of the earthquake that struck the northeastern coastal region of Japan to 7.7 and the depth to 20 kilometers.On April 20th, the Guangdong Provincial Party Committees Financial and Economic Affairs Commission held a meeting to analyze the economic situation in the first quarter and to plan and promote key projects for the next stage of economic work. Huang Kunming presided over the meeting, and Meng Fanli attended. The meeting emphasized the need to focus on the work in the second quarter and throughout the year, consolidating and expanding the positive momentum of the economy. It stressed the importance of comprehensively strengthening the foundation for industrial development, adhering to the principle of mutual promotion between industry and technology, and the coordinated development of manufacturing and service industries. This includes further strengthening pillar industries such as electronic information and new energy vehicles, accelerating the optimization and upgrading of traditional industries through technological innovation, brand cultivation, and standard leadership, strengthening the support of the service industry, and promoting the mutual achievement of a "manufacturing powerhouse" and a "service hub," thus better solidifying the "ballast stone" of the real economy. The meeting also emphasized the need to vigorously expand domestic and international markets, deepen the implementation of "Guangdong Trade Global," actively develop new forms and areas of foreign trade, and continue to successfully hold exhibitions such as the Canton Fair to better stabilize the international market.

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.