EUR/USD 1.16141
-0.097%
Gold 4434.77
-0.854%
Oil 89.430
-0.234%
USD/JPY 156.234
0.280%
GBP/USD 1.35183
-0.046%
GBP/JPY 211.206
0.242%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 6, the foreign ministers of the Kingdom of Saudi Arabia, the Hashemite Kingdom of Jordan, the United Arab Emirates, the Republic of Indonesia, the Islamic Republic of Pakistan, the Republic of Turkey, the State of Qatar, and the Arab Republic of Egypt issued a joint statement strongly condemning the remarks made by Israeli National Security Minister Itamar Ben-Gwell and Israeli Defense Minister Israel Katz regarding the expulsion of the Palestinian people from the Gaza Strip, including proposals for plans and mechanisms aimed at forcibly removing Palestinians from their homes. Such inflammatory rhetoric and proposals blatantly violate principles of international law, including international humanitarian law, and pose a direct threat to the legitimate and inalienable rights of the Palestinian people. The Gaza Strip is an integral part of the occupied Palestinian territory, and the unity of the Palestinian land must be maintained.On September 6th, China Export & Credit Insurance Corporation (SINOSURE) announced that the Ministry of Finance will inject RMB 10 billion into the company. This capital injection will be carried out steadily in accordance with market-oriented and rule-of-law principles, fully reflecting the positive outlook for the financial industry. Supporting SINOSURE in replenishing its core tier-one capital will help the company improve its risk solvency ratio, enhance its ability to fulfill its obligations as an insurer, further expand the coverage of export credit insurance, effectively ensure medium- and long-term financial sustainability, improve the resilience of its operating cash flow, and support the company in better fulfilling its policy-oriented functions and serving the real economy.On September 6, the Export-Import Bank of China announced that the Ministry of Finance will inject RMB 30 billion into the bank, effectively consolidating its capital base, strengthening its sustainable development capabilities, significantly enhancing its ability to provide funds for serving the real economy and opening up to the outside world, and improving its risk prevention and control resilience. This will provide a solid guarantee for better fulfilling its policy-oriented financial responsibilities and missions and serving major national strategies.The U.S. National Hurricane Center: Marie is expected to begin weakening later today.Turkish Vice President Yilmaz: We expect to create 2.1 million new jobs by the end of 2029 and reduce the unemployment rate to below 8%.

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.


Suggestion