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The bid-to-cover ratio for the U.S. 4-month Treasury bond auction ending August 20 was 3.14, compared to the previous value of 3.5.The winning rate of the U.S. 4-month Treasury bond auction until August 20 was 4.05%, the same as the previous value.On August 20, Federal Reserve Board Governor Waller called for embracing the "technology-driven revolution" being driven by artificial intelligence and stablecoins as a way to boost the U.S. economy. "The current technology may be new, but using innovative technology to build new payment services is not a new story," Waller said in a speech prepared for the Wyoming Blockchain Symposium. Waller has previously supported some of the decentralized financial elements he recognizes (including the technology that supports virtual currencies) as a supplement to the traditional payment system. He emphasized that distributed ledger technology can provide a more efficient and faster way to track asset transfers. On Wednesday, he emphasized the impact of decentralized finance in the payment field, and if the private sector cooperates with the Federal Reserve, this could be a win-win situation. Waller said that the Federal Reserve is researching the latest wave of innovations, including tokenization, smart contracts and artificial intelligence in the payment field.HSBC: Raised Nvidia (NVDA.O) target price to $200, from $125 previously.Federal Reserve Board Governor Waller: The evolution of the payment system is a story of technological progress.

AUD/NZD Extends Range Above 1.0950 As New Zealand Trade Balance Data Is Positive

Alina Haynes

Jan 30, 2023 15:29

AUD:NZD.png 

 

After opening with a gap down to 1.0926, the AUD/NZD pair displayed a robust recovery in the early Asian session. The cross is gaining ground despite the publication of upbeat New Zealand Trade Balance numbers.

 

December exports grew to $6.72 billion from $6.34 billion, while imports declined to $7.19 billion from $8.52 billion. The annual Trade Balance came in at -14.46 billion New Zealand dollars, as opposed to the previously stated -14.98 billion.

 

The New Zealand Employment Statistics, which will be issued on Wednesday, will provide investors with direction. It is projected that the Employment Change (Q4) will decrease to 0.7% from 1.3% in the previous publication. The unemployment rate is anticipated to hold steady at 3.3%. As a result of the Reserve Bank of New Zealand's decision to raise interest rates, the New Zealand economy is unable to create significant employment opportunities (RBNZ).

 

The labor cost index statistics will otherwise dominate the conversation. The employment bills index (annual) is anticipated to rise to 4.45 from 3.8% previously. And the expected quarterly figure is 1.3%, up from 1.1% in the previous report. Since households would have more liquid assets, a rise in labor expenses might keep inflationary pressures on the rise.

 

Notably, the New Zealand economy has shown no indications of inflation abating, as the annual Consumer Price Index (CPI) (Q4) grew to 7.2% from the consensus forecast of 7.1%, and an increase in retail demand will intensify inflationary pressures.

 

On the Australian front, investors are keeping a tight eye on Tuesday's retail sales report, which is expected to reveal a 0.3% fall from the previous release of 1.4%. This could reduce difficulties for the Reserve Bank of Australia (RBA), which is battling to contain the persistent inflation in the Australian economy.