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March 2nd - Morgan Stanley strategists believe that unless oil prices experience a sharp and sustained surge, the ongoing conflicts in Iran and the Middle East are unlikely to shake their bullish view on U.S. equities. In a report, the team led by Mike Wilson cited the average performance of the S&P 500 in the months following past geopolitical risk events, noting that such events have historically not led to sustained volatility in U.S. stocks. The strategists stated that, regarding the latest Iranian conflict, the bearish argument stems from the significant and sustained rise in oil prices, which could undermine what they perceive as a strengthening business cycle. They wrote, "Unless oil prices surge and remain high in a historically significant manner, recent events are unlikely to change our bullish view on U.S. equities over the next 6 to 12 months." For Wilson, the healthcare sector remains the preferred defensive sector, as cheap valuations, improving earnings, and fading policy shadows help attract broader investor interest.March 2 - The International Organization for Standardization (ISO) recently officially released the "Road Vehicle Headlight Beam Positioning Measurement Procedure". This standard is the first international standard that systematically covers the beam positioning measurement procedure for intelligent vehicle lights, and it was revised under the leadership of my country.An Iranian missile struck Beersheba, Israel, injuring 15 people.ECB Governing Council member Winsch: If oil prices continue to rise, the ECB will have to reassess the situation.ECB Governing Council member Winsch: My first reaction is to look at the situation in the Middle East from a long-term perspective.

NZD/USD Price Analysis: Struggles to sustain the recovery from the 0.6370 support converging

Daniel Rogers

Dec 13, 2022 15:03

 NZD:USD.png

 

NZD/USD is trading near 0.6390 in the early hours of Tuesday as Kiwi pair traders look for additional signs to prolong the current rebound from the significant support convergence. In doing so, the statement demonstrates the market's caution ahead of the United States' November inflation data, namely the Consumer Price Index (CPI) (CPI).

 

Although NZD/USD reversed a three-day gain the day before, bears were unable to breach the 50-bar Simple Moving Average (SMA) and a one-week-old ascending support line near 0.6370.

 

However, the pair's comeback conflicts with the negative MACD signals to challenge NZD/USD buyers. The downward-sloping resistance line from 5 December, which was approaching 0.6420 at press time, might also threaten the rising momentum of the New Zealand dollar pair.

 

If the NZD/USD maintains firmer than 0.6420, it is probable that the monthly high around 0.6475-80 will be retested.

 

In contrast, a decisive violation of the 0.6370 support confluence might fast send the price to the previous weekly low near the round number 0.6300.

 

However, at 0.6290 and 0.6280, the 100-day simple moving average (SMA) and 61.8% Fibonacci retracement level of the NZD/USD pair's gain from November 28 to December 1 could pose a challenge to bearish.


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