EUR/USD 1.16549
0.070%
Gold 4237.06
0.687%
Oil 58.132
-0.278%
USD/JPY 151.234
0.121%
GBP/USD 1.34316
0.216%
GBP/JPY 203.137
0.343%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Brazilian Vice President Alckmin: Petrobras will sign a new oil contract with India today.Sources: Rosnefts Ufa refinery has suspended operations at its CDU-4 crude distillation unit after being attacked by a drone.On October 16th, Russ Mould of AJ Bell warned in a report that economic growth could deteriorate further if the UK government introduces unfavorable tax increases in its November 26th budget. He noted, "There is a significant risk that tax adjustments could further undermine consumer and business confidence." Recent data showed that UK GDP grew by a meager 0.1% in August. Mould stated that the UK is facing "weak growth and a weak fiscal position," posing a daunting challenge for Chancellor of the Exchequer Reeves.Kremlin: Russia can provide high-quality oil at lower prices to countries that Trump is trying to persuade not to buy Russian oil.On October 16th, the National Development and Reform Commission and the National Energy Administration jointly issued the "Measures for the Supervision of Fair and Open Access to Oil and Gas Pipeline Network Facilities." These measures clearly define how to regulate fair and open access to oil and gas pipeline network facilities. They include a series of arrangements regarding "what to regulate, who will regulate, and how to regulate," providing a strong foundation for deepening regulation of natural monopolies in the oil and gas sector. The measures will take effect on November 1st. Furthermore, the "Measures for the Supervision of Fair and Open Access to Oil and Gas Pipeline Network Facilities" also clarify for the first time the service process for fair and open access to oil and gas pipeline network facilities, standardizing standards for user registration and business acceptance. Information on remaining capacity and operational status of pipeline network facilities must be disclosed in accordance with regulations to ensure both facility information security and user needs.

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

Alina Haynes

Nov 14, 2022 18:54

截屏2022-11-14 下午5.32.48.png 


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.

Suggestion