EUR/USD 1.15124
-0.036%
Gold 4490.20
-0.533%
Oil 99.445
1.939%
USD/JPY 159.810
-0.207%
GBP/USD 1.32585
-0.096%
GBP/JPY 211.890
-0.303%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Hang Seng Tech Index fell by more than 3%, with NIO (09866.HK) falling by more than 6% and XPeng Group (09868.HK) falling by more than 5%.The Hang Seng Index fell by more than 2%, and the Hang Seng Tech Index fell by 2.8%.Most Hong Kong-listed mobile game stocks fell, with Kingsoft (03888.HK) and Bilibili (09626.HK) down more than 4%, Tencent Holdings (00700.HK) down more than 3%, and CMGE (00302.HK) down more than 2%.On March 30, the Kuomintang (KMT) Chairmans Office stated that the Central Committee of the Communist Party of China (CPC) and General Secretary Xi Jinping invited Chairperson Cheng Li-wen to lead a delegation to visit the mainland. Chairperson Cheng expressed her gratitude and gladly accepted the invitation. She expressed hope that both parties would work together to promote the peaceful development of cross-strait relations, enhance cross-strait exchanges and cooperation, seek peace in the Taiwan Strait, and improve the well-being of the people.On March 30, Song Tao, Director of the Taiwan Affairs Office of the Central Committee of the Communist Party of China, stated that since taking office, Kuomintang (KMT) Chairperson Cheng Li-wen has repeatedly expressed her desire to visit the mainland. To promote the peaceful development of relations between the KMT and the Communist Party of China (CPC) and across the Taiwan Strait, Song Tao, authorized by the CPC Central Committee, announced that the CPC Central Committee and General Secretary Xi Jinping welcome and invite Chairperson Cheng Li-wen to lead a KMT delegation to visit Jiangsu, Shanghai, and Beijing from April 7 to 12. Song Tao stated that they will communicate with the KMT regarding Chairperson Cheng Li-wens visit and make appropriate arrangements.

NZD/USD falls further below the 0.5800 level and nears the weekly low in response to USD strength

Daniel Rogers

Nov 03, 2022 18:09

 截屏2022-11-03 下午5.16.35.png

 

The 0.5835-0.5840 range attracts sellers on Thursday, as the NZD/USD pair declines for a second consecutive session. During the opening minutes of the European day, spot prices fall below the 0.5800 mark and appear poised to extend the overnight post-FOMC decline from the highest level since September 20.

 

In the preceding hour, the US dollar reversed an intraday fall and soared to a one-and-a-half-week high, which is regarded as the principal factor exerting downward pressure on the NZD/USD pair. Wednesday, the US central bank hinted at a future policy shift, but Fed Chair Jerome Powell dashed dovish hopes. Powell remarked that it was premature to consider a stop in the rate-hiking cycle and that the final rate will exceed expectations.

 

Powell's hawkish remarks indicate that the Fed will continue to raise interest rates to combat inflation. Recent increases in US Treasury bond yields continue to strengthen the dollar. Moreover, a reduced risk tone gives additional support for the safe-haven dollar and weighs on the risk-averse New Zealand dollar. Concerns about economic headwinds stemming from quickly rising borrowing prices and China's zero-COVID policy have a depressing effect on the market sentiment.

 

The underlying environment appears to overwhelmingly favor USD bulls, suggesting that the path of least resistance for the NZD/USD pair is down. Some selling below the weekly low, below 0.5775, will underline the negative outlook and pave the way for fresh near-term decline. Ahead of Friday's NFP report, market experts predict that the US ISM Services PMI will give early North American session impetus.


Suggestion