EUR/USD 1.14579
-0.087%
Gold 4078.96
0.315%
Oil 82.731
-1.018%
USD/JPY 163.422
0.014%
GBP/USD 1.33557
-0.093%
GBP/JPY 218.268
-0.076%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Nasdaq futures rose more than 1%, S&P 500 futures rose 0.4%, and Dow futures rose 0.3%.July 30 – The Japanese government lowered its economic growth forecast for the current fiscal year on Thursday, citing rising oil prices linked to Middle East tensions as squeezing household spending and corporate profits. In its interim estimate released by the Cabinet Office, the government projects inflation-adjusted GDP growth of 0.9% for the fiscal year ending March 2027, down from the 1.3% growth forecast in January. However, thanks to strong capital spending and private consumption, growth is expected to accelerate to 1.1% in the next fiscal year. The weaker economic outlook for the current fiscal year highlights the pressure that rising energy costs are putting on Japans economy, which is heavily reliant on imported fuels. Under the forecast, Japan now expects private consumption to grow by 0.9% in fiscal year 2026, down from the 1.3% growth forecast in January; while capital spending is projected to grow by 2.3%, down from the previously forecast 2.8%.The death toll from the earthquake in Kumamoto Prefecture, Japan, has risen to 17.The Federal Reserve kept interest rates unchanged for the fifth consecutive time, and spot gold and silver fluctuated widely. A chart provides a quick overview of the pre-market prices of precious metals in both domestic and international markets.On July 30th, Samsung Electronics semiconductor division reported a more than 250-fold increase in profits, driven by the lucrative reliance on memory in the field of artificial intelligence. The divisions second-quarter operating profit reached 89.2 trillion won (approximately $62 billion), exceeding analysts average expectation of 79.3 trillion won. The groups overall net profit was 71.3 trillion won, also surpassing market expectations. The profitability of the worlds largest memory chip manufacturer is under close scrutiny, as investors seek evidence to justify the massive investments and valuations driven by the AI boom. Global semiconductor stocks have soared to record highs this year, but also face increasingly fierce competition and concerns about overcapacity. Investors are increasingly questioning the commercial viability of the massive investments pouring into the industry.

NZD/JPY Price Analysis: Falls to 84.40 as RBNZ inflation forecasts fall

Alina Haynes

Aug 08, 2022 11:55

 截屏2022-08-08 上午11.50.52.png

 

The NZD/JPY pair surpassed the immediate hurdle of 84.62 during the Asian session, but has since retreated back into the woods due to an unexpected decline in Reserve Bank of New Zealand (RBNZ) inflation forecasts. The economic data has been provided at a rate of 3.07 percent, which is less than the previous rate of 3.29 percent. The cross has exhibited a bullish open-drive session, in which the asset begins rising from the very first tick of the session. On a broader scale, the asset has broken to the upside from the consolidation created between 83.50 and 84.07 dollars.

 

On an hourly scale, the asset surpassed the downward-sloping trendline drawn from the 20 July high at 86.60, but it has since retreated. In addition, the cross is finding support near the 50 percent Fibonacci retracement level of 84.32 (which is located between the 20 July high of 86.60 and the 2 August low of 82.14)

 

At 84.00 and 84.11. respectively, the asset has surpassed the 50-period and 200-period Exponential Moving Averages (EMAs). Notable is the fact that the 200-EMA is selling for more than the 50-EMA, indicating that purchasing interest is exceptionally strong.

 

In addition, the Relative Strength Index (RSI) (14) has moved into the zone of 60.00-80.00, enhancing the upward filters. A break over Monday's high of 84.72 will propel the asset to the 61.8 percent Fibo level at 84.90, followed by the high of July 27 at 85.65.

 

In contrast, yen bulls could gain impetus if the cross falls below the 50-day exponential moving average (EMA) at 84.00. The asset will fall to Thursday's low of 83.46 and the 23.65 Fibonacci retracement level of 83.19 should a similar event occur.


Suggestion