EUR/USD 1.17685

USD/JPY 158.556

GBP/USD 1.35187

GBP/JPY 214.355

English
简体中文
繁體中文
Tiếng Việt
ไทย
Indonesia

Subscribe

Real-time News

U.S. Treasury Secretary Bessenter: We welcome Qatar’s continued investment in the United States, particularly in strengthening energy security.On April 20th, the UK Maritime Trade Operations Office (UKMTO) reiterated that the threat level in the Strait of Hormuz remains "critical." The UKMTO noted "navigational interference, blockade enforcement, mine reports, residual kinetic energy risks," as well as "attack risks," citing yesterdays Iranian military attack on vessels in the strait. The UKMTO also stated that the threat level in the Gulf of Oman remains "critical," while the threat levels in the southern and northern Red Sea and the Mediterranean Sea are "moderate."On April 20, Canadian Prime Minister Mark Carney delivered a video address via social media on April 19, assessing the current state of Canada-US relations. He stated that many of Canadas previous "advantages" built on close ties with the United States have turned into "disadvantages" that must be corrected, and called for addressing current challenges through foreign trade diversification. In this video address, titled "Forward-Looking Guidance," Carney said, "The United States has fundamentally changed the way it trades," raising tariffs to levels not seen since the Great Depression of the 1930s. Currently, US tariffs on the Canadian automotive, steel, and lumber industries have already had a negative impact. Carney said that Canada cannot control interference from the United States, nor can it pin its future on the United States suddenly ceasing these actions. "Hope is not a plan, and nostalgia is not a strategy." Carney pledged to regularly update the public on the progress of national trade diversification. He stated that in the past year, the Canadian government has signed 20 new trade agreements. Canada will attract global investment, harmonize inter-provincial trade regulations, and double its clean energy production capacity to reduce dependence on a single external market.Pakistani Prime Minister Sharif shared with Iranian President Pezeshiziyan recent exchanges with the leaders of Saudi Arabia, Qatar and Türkiye.According to the AXIOS website: Despite being blacklisted, the U.S. National Security Agency is still using Anthropics Mythos model.

NZD/USD finds support near 0.6220; a decline appears more probable due to China's Covid concerns

Alina Haynes

Nov 28, 2022 15:04

截屏2022-11-28 上午10.39.08.png

China's anti-Covid shutdown protests have weakened commodity-linked currencies, resulting in a gap-down start of roughly 0.6220 for the NZD/USD pair. During the previous week, the New Zealand dollar dropped after failing to surpass the round-level barrier of 0.6300.

Individuals have taken to the streets in China to demonstrate their opposition against the zero-tolerance policy, leading to a rise in civil unrest. Due to Chinese leader Xi Jinping's conservative posture and authoritarian framework, global markets have become more risk-averse. This has created an economic expansion risk and may worsen the already shaky housing market. Increasing apprehensions about societal risks may also result in political instability, which may have long-lasting detrimental effects on economic structure.

Notably, New Zealand is one of China's most important trading partners, and instability in China could damage the New Zealand Dollar.

In the meantime, the US Dollar Index (DXY) is profiting from investors' liquidity as the demand for safe-haven assets surges. The USD Index is hovering around 106.20 and attempting to reduce volatility as China's anti-locking protests restrict the upside and predictions of a slowdown in the Federal Reserve's larger rate hike cycle limit the downside (Fed).

S&P500 futures are under heavy pressure from market players due to a risk-averse market mentality. In anticipation of Fed chief Jerome Powell's address on Wednesday, yields on 10-year US Treasuries have decreased to approximately 3.68 percent. The Fed Chair's speech could dispel suspicions about a pause to the Fed's current rate-hiking program.