EUR/USD 1.16466
0.200%
Gold 4429.43
1.702%
Oil 93.528
1.434%
USD/JPY 153.325
-0.425%
GBP/USD 1.35520
0.089%
GBP/JPY 207.792
-0.342%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 9th, the "Digital Trade Development Trends and Frontiers Forum" was held during the 2026 China International Fair for Trade in Services. The forum, themed "Enhancing International Green Economic and Trade Cooperation in the Digital Age and Promoting a Community with a Shared Future for Mankind," focused on discussions and exchanges regarding the implementation of the "Framework Initiative on International Economic and Trade Cooperation in the Digital Economy and Green Development," and released relevant cooperation outcomes. Jiang Chenghua, Vice Minister of Commerce, attended the forum and delivered the opening address. You Jun, Vice Chairman of the Standing Committee of the Beijing Municipal Peoples Congress, and Tina, Deputy Minister of Public Services, Labour and Social Welfare of Zimbabwe, also attended the forum. Jiang Chenghua pointed out that China has always been an active promoter of the digital economy and green development, sharing its experience in digital and green development with countries in the Global South through concrete actions. China is willing to further leverage its active role as the initiator of the Framework Initiative to deepen practical international economic and trade cooperation in the digital and green fields and promote the achievement of the UN Sustainable Development Goals. China calls on all parties to uphold openness and cooperation, promote communication and exchanges, expand economic and trade cooperation to contribute to common development, strengthen capacity building, and deepen exchanges and mutual learning.Mexican Economy Minister Ebrard: Mexican President Sinbaum and U.S. Commerce Secretary Lutnick will hold an online meeting.World Trade Organization indicators show that global merchandise trade continues to show resilience.Baker Hughes: LNG orders are expected to gradually recover by 2027, and the market outlook is improving.The main fuel oil contract surged 4.00% intraday, currently trading at 4093.00 yuan/ton.

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