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The euro fell to a two-week low of 11.7779 against the Norwegian krone (EUR/NOK).The Russian Ministry of Defense stated that Russian forces attacked military industrial enterprises in Ukraine.According to RIA Novosti: Russian troops have occupied Zarichne in eastern Ukraine.Gold prices climbed again on December 24th, continuing their upward trend after hitting a record high in the previous trading session. Swissquote Bank senior analyst Ipek Ozkardeskaya pointed out that gold prices have broken historical highs more than 50 times this year, and the core factors driving the current price increase have not subsided. She stated, "Theoretically, the medium- to long-term outlook for gold remains optimistic."On December 24th, two Japanese government sources revealed that the Japanese government plans to reduce the issuance of new ultra-long-term government bonds to approximately 17 trillion yen in fiscal year 2026, the lowest level in 17 years. This move is intended to address market concerns about an oversupply of government bonds, with yields on ultra-long-term Japanese government bonds recently surging to record highs. The sources indicated that, as part of the new fiscal years bond issuance plan, the Ministry of Finance will also temporarily suspend increases in the issuance of benchmark 10-year Japanese government bonds. This adjustment highlights the Japanese governments sensitivity to the recent continued rise in government bond yields. Sources familiar with the matter said that the Ministry of Finance is considering reducing the monthly issuance of 20-year, 30-year, and 40-year Japanese government bonds by 100 billion yen each in fiscal year 2026. If this plan is implemented, the total annual issuance of ultra-long-term government bonds will fall to the lowest level since 2009 and is lower than the planned size for the current fiscal year ending in March 2026. The Ministry of Finance declined to comment.

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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