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Amazon (AMZN.O) announced that it will hold its Prime Day event from June 23 to 26.June 2nd, Futures News: Economies.com analysts latest view: WTI crude oil futures prices retreated during recent intraday trading, having previously touched the EMA50 moving average resistance level, which hindered any sustained rebound. As a result, oil prices turned downwards, and short-term bearish pressure reappeared. This decline coincides with the negative signal released by the Relative Strength Index (RSI). Previously, the RSI formed a bearish divergence after a significant price increase, indicating that the market was severely overbought. This technical signal further exacerbated the technical pressure on the market. Meanwhile, the short-term downtrend remains dominant, with oil prices moving along the descending trendline, reinforcing bearish expectations and suggesting that negative sentiment may persist in the short term.June 2nd, Futures News: Economies.com analysts latest view: Brent crude oil futures fell in recent intraday trading, primarily due to a bearish divergence on the Relative Strength Index (RSI), and the previous overbought condition appearing excessive relative to price action. This phenomenon releases new negative signals and increases downward pressure on the market. Furthermore, Brent crude oil futures prices continue to trade below the 50-day EMA, further strengthening downward momentum and limiting any rebound attempts. Meanwhile, prices remain within the short-term downtrend line, further supporting the current bearish structure.Futures News, June 2nd: Zhengzhou rapeseed meal futures opened higher but then trended downwards. Canadian canola futures closed higher, with the benchmark contract rising 1.76%, mainly driven by stronger international crude oil futures. Rapeseed meal spot prices remained stable today. With crushing plant operating rates continuing to rise, rapeseed meal supply is ample, and downstream demand is increasing, limiting short-term fluctuations in rapeseed meal prices.June 2nd - Recently, various regions have continued to optimize and adjust their housing provident fund policies. A review of the new policies across the country reveals that, in addition to purchasing housing, the renovation of old residential areas and the installation of elevators have become important areas for policy updates. Shenyang, Liaoning Province, recently issued a policy announcing the full implementation of provident fund use for livability improvements starting this year. The policy clarifies that families who purchase newly built unfurnished commercial housing with full payment or a commercial loan, and provided there are no outstanding provident fund loans, can apply for a special livability improvement loan or withdraw provident funds for home renovation and upgrades within two years of purchasing the property. Since the beginning of this year, many places across the country have included home aging-friendly and child-friendly renovations, as well as home renovations, within the scope of withdrawals. Anqing and Wuhu in Anhui Province have specified withdrawal limits ranging from 30,000 to 50,000 yuan; many places in Gansu Province stipulate that the maximum withdrawal limit for aging-friendly renovations can reach 100,000 yuan; and Xiamen in Fujian Province allows residents to withdraw housing provident funds for home renovations, with a standard of 1,800 yuan per square meter and a maximum withdrawal amount of 250,000 yuan per unit.

AUD/NZD strengthens above 1.0800 as focus shifts to RBA Lowe's speech and RBNZ policy

Daniel Rogers

Nov 22, 2022 14:59

截屏2022-11-22 上午10.03.22.png 

 

In the early Tokyo session, the AUD/NZD pair is displaying inventory accumulation between 1.0810 and 1.0830. Investors have shifted their focus to Reserve Bank of Australia (RBA) Governor Philip Lowe's speech, which has caused the asset to swing unpredictably. The primary impetus for the cross will be the Reserve Bank of New Zealand's (RBNZ) interest rate decision on Wednesday.

 

Investors await the RBA policymaker's speech in order to get an informed opinion. The speech will include interest rate suggestions to counteract the exceptional increase in inflationary pressures. Third-quarter inflation hit 7.3%, compelling the Australian central bank to lift its price growth projection to 8%. To preserve healthy economic prospects and achieve price stability, the RBA maintained its rate hike timetable at 25 basis points (bps).

 

On the kiwi front, the Reserve Bank of New Zealand's (RBNZ) monetary policy statement will deepen policy divergence between the RBNZ and the RBA. Governor Adrian Orr of the Reserve Bank of New Zealand (RBNZ) has already announced five consecutive rate hikes of 50 basis points (bps) to a current level of 3.5 percent and has no plans to pause rate hikes despite rising inflationary pressures.

 

The Official Cash Rate (OCR) will climb by 75 basis points (bps) this time, according to a Reuters survey of the RBNZ's rate hike estimates. A comparable scenario would cause the OCR to increase to 4.25 percent and depart significantly from the RBA's policy structure.

 

The decision may boost the New Zealand Dollar in the future, but reduces the Reserve Bank of New Zealand's room for future rate increases. In addition, additional economic dynamics requirements will be shifted into the future.

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