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Israeli military: We have detected Iran launching a new type of missile.On March 8th, Wang Yi stated that Taiwan has been Chinese territory since ancient times, and it has never been, is, or will ever become a "country." Taiwans return to China was a result of the Chinese peoples victory in the War of Resistance Against Japan and also a fruit of victory in World War II. A series of international legal documents, including the Cairo Declaration, the Potsdam Declaration, the Japanese Instrument of Surrender, and UN General Assembly Resolution 2758, have firmly established Taiwans status. Any attempt to create "two Chinas" or "one China, one Taiwan" internationally is doomed to failure.On March 8th, Wang Yi stated that the Taiwan issue is Chinas internal affair and the core of Chinas core interests; this red line cannot be crossed or trampled upon. We will never allow anyone or any force to separate Taiwan, which was liberated more than 80 years ago, from China again. The international community has reached an overwhelming consensus on upholding the one-China principle. The historical process of resolving the Taiwan issue and achieving the complete reunification of the motherland is unstoppable. Those who follow this path will prosper, and those who oppose it will perish.On March 8, Wang Yi stated that China and India are important neighbors, both located in the South, and share profound cultural ties and broad common interests. Mutual trust and cooperation between the two countries are conducive to common development, while division and confrontation are not beneficial to the revitalization of Asia. Both sides should follow the direction set by their leaders, eliminate interference, and move towards each other.On March 8, Wang Yi said that he hopes the Philippines, during its ASEAN chairmanship this year, will recognize its responsibilities, not be misled by its own interests, demonstrate its due commitment, and play a positive role in promoting regional peace and stability.

NZDUSD consolidates near 0.6100, closing below Friday's two-month peak

Alina Haynes

Nov 14, 2022 18:54

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The NZDUSD pair struggles to capitalize on last week's breakthrough momentum through the 100-day Simple Moving Average, bouncing between moderate gains and slight losses throughout Monday's early European session. The pair is currently trading slightly below the 0.6100 level, practically flat on the day, and remains close to Friday's two-month high.

 

A convergence of variables permits the US Dollar to stabilize at its lowest level since mid-August, acting as a headwind for the NZDUSD pair. In response to Christopher Waller's more hawkish remarks on Sunday, U.S. Treasury bond yields rise. It is expected that this, along with a softer tone on equity markets, will benefit the safe-haven dollar and exert some downward pressure on the risk-averse New Zealand dollar.

 

Waller indicated during a conversation in Sydney, Australia, that the markets had overreacted to October's weaker-than-expected consumer price inflation numbers. Waller stated that the Federal Reserve was not lessening its fight against inflation and that a string of moderate CPI readings would be required for the US central bank to soften its approach. This increases US Treasury bond yields and helps support USD demand, notwithstanding the lack of confidence in the intraday rise.

 

A greater possibility that the Federal Reserve will slow the pace of its policy tightening discourages USD bulls from placing risky trades. Moreover, optimism surrounding a likely rollback of COVID-19 measures in China supports the NZD/USD pair and restricts its downside. Therefore, the subdued intraday price movement can be characterized as a bullish consolidation phase, meaning that any significant pullback is likely to be purchased and remain confined.

 

The United States is not slated to provide any market-moving economic data on Monday, leaving the USD at the mercy of US bond yields. Traders will also consider Lael Brainard's anticipated Fed governor address. Together with the broader risk sentiment, this will be analyzed for short-term trading opportunities in the NZDUSD pair prior to the release of Chinese economic data on Tuesday.

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