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Market news: South Korean President Lee Jae-myung will visit Japan from January 13 to 14.US Treasury Secretary Bessenter: We will not force institutional investors to withdraw from real estate investments.On January 9th, German Chancellor Merz stated on January 8th that the proposed formation of a "multinational force" to be deployed to Ukraine after a ceasefire between Russia and Ukraine would not be feasible without Russias consent. Merz made these remarks after attending a closed-door meeting of the Christian Social Union (CSU) in Bavaria, southern Germany. He noted that the leaders of Germany, France, and the United Kingdom agreed in December to sign a memorandum of understanding with Ukraine regarding the deployment of troops, but this involved security guarantees for Ukraine after a ceasefire agreement. Merz emphasized that a ceasefire must be achieved first, followed by security guarantees for Ukraine and a long-term agreement with Russia; this order must be followed. All of the above would be impossible without Russias consent.January 9th - According to a report by the Canadian Broadcasting Corporation (CBC) on the 8th, Canadian Prime Minister Mark Carney will visit China next week to discuss trade, energy, and security issues. If the trip takes place, it will be the first visit by a Canadian prime minister to China since 2017. Canadian media believe this visit is significant as it aims to repair Canada-China relations. The Canadian agricultural sector hopes Carneys visit will ease trade tensions. Global News Canada commented, "For farmers in Saskatchewan, this trip has been eagerly anticipated."According to TankerTrackers, a US-sanctioned oil tanker that departed Venezuela last week is currently anchored off the coast of Colombia.

NZD/USD retests three-month lows below 0.6150 as US consumer spending bolsters hawkish Fed wagers

Daniel Rogers

Feb 27, 2023 14:39

 NZD:USD.png

 

During the Asian trading session, the NZD/USD retested its three-month trough below 0.6148. The kiwi asset has been dumped by market participants amid weak New Zealand Retail Sales data and increasing stakes for the Federal Reserve's policy tightening to continue (Fed).

 

The term "ecosystem" refers to a group of people who work in the construction industry. S&P500 futures have shown some recovery on Monday morning after reporting significant losses last week, reflecting a caution in the overall theme of risk aversion. The likelihood that the Federal Reserve will announce additional rate hikes to combat persistent inflation has increased, which has had a detrimental effect on U.S. stocks.

 

The demand for U.S. government bonds has decreased due to the Federal Reserve's increased support for additional policy restrictions. The 10-year US Treasury yield has risen above 3.94% as a result of a decline in bond demand.

 

Despite the dovish People's Bank of China (PBOC) report, the New Zealand Dollar has struggled to gain ground. The report predicts a revival in the Chinese economy in 2023 as a result of a relaxation in epidemic prevention and an increase in consumption. The PBoC's vision extends beyond the expansion of domestic demand to include economic growth and price stability over the extended term.

 

Notably, New Zealand is one of China's primary trading partners, and an expansionary monetary policy from the People's Bank of China will strengthen the New Zealand Dollar.


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