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On May 22, Nomura Securities predicted that the Federal Reserve will keep interest rates unchanged until 2026 due to rising inflation and weakening support for policy easing from Federal Reserve officials, reducing the likelihood of a near-term rate cut. "Incoming Fed Chairman Kevin Warsh may still have the incentive to ease policy, but recent data and comments from Fed officials make us doubt his ability to convince a majority of the Federal Open Market Committee to support rate cuts," Nomura said in a report on May 21. The firm had previously projected 25-basis-point rate cuts in September and December of this year.According to the Financial Times, JPMorgan Chase (JPM.N) is seeking to reduce its $4 billion exposure to private equity-related loans.According to the Financial Times, the European film industry is urging EU regulators to review the deal between Warner Bros. Discovery (WBD.O) and Paramount.On May 22nd, Nomura Securities analysts wrote in a report that NIO (NIO.N) needs to launch more popular models to further support its sales, market share, and profit margins. They stated that investors will be watching the performance of the ES9, which will be launched next Wednesday. Given the positive customer feedback in the ES9 pre-sale data, Nomura remains optimistic about the company and expects NIO to achieve sequential improvement in deliveries and financial data in the second half of this year. NIO will launch a five-seat version of the ES8 in the second half of the year and plans to launch three to five new models annually in the coming years. Nomura maintains its buy rating on NIO with a target price of $8.60. The stocks American Depositary Receipts closed at $5.60 yesterday.The Hang Seng Tech Index continued its upward trend, rising by more than 2%.

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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