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US Vice President Vance: Trump has mentioned lifting sanctions. He also talked about things like economic cooperation. But unless Iran makes a clear commitment to cease any activities that bring it closer to developing nuclear weapons, that wont happen.On April 9th, U.S. stocks closed higher on Wednesday. The Dow Jones Industrial Average rose 2.85%, the S&P 500 gained 2.5%, and the Nasdaq Composite climbed 2.8%. Intel (INTC.O) surged 11%, SanDisk (SNDK.O) climbed nearly 10%, Nvidia (NVDA.O) gained 2%, while Tesla (TSLA.O) bucked the trend, falling 1%. The Nasdaq China Golden Dragon Index rose 3%, and Alibaba (BABA.N) gained 4.6%.April 9th - Several market experts stated on Wednesday that although wholesale fuel prices have fallen somewhat after Trump announced a two-week ceasefire in the Iraq War, American consumers will still pay high prices for gas and airline tickets during the peak summer travel season. The drop in crude oil prices is unlikely to quickly alleviate pressure on gas station prices, and the fragile ceasefire has already shown cracks. Shon Hiatt, director of the Zage Energy Business Program at the USC Marshall School of Business, said, "There is still a lot of uncertainty surrounding the practical implications of the ceasefire and when and how fuel will be able to pass through the Strait of Hormuz again. In this situation, retailers will not significantly lower prices." He added that, in any case, retail fuel prices tend to rise much faster than they fall, as sellers need to digest high-priced inventory and avoid losses until future supply becomes more certain. GasBuddy analyst Patrick De Haan said, "If the situation stabilizes now, by this time next week, the average gasoline price across the US could fall by 5 to 10 cents per gallon." Alex Hodes, head of energy market strategy at StoneX, said that regardless of whether the ceasefire continues, insurance costs will be higher than pre-war levels, and ships will be cautious about passing through the waterway.US Vice President Vance: I wonder how good the Iranian parliament speakers English comprehension is.US Vice President Vance: Sanctions will not be lifted if Iran develops nuclear weapons.

NZDUSD consolidates near 0.6100, closing below Friday's two-month peak

Alina Haynes

Nov 14, 2022 18:54

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The NZDUSD pair struggles to capitalize on last week's breakthrough momentum through the 100-day Simple Moving Average, bouncing between moderate gains and slight losses throughout Monday's early European session. The pair is currently trading slightly below the 0.6100 level, practically flat on the day, and remains close to Friday's two-month high.

 

A convergence of variables permits the US Dollar to stabilize at its lowest level since mid-August, acting as a headwind for the NZDUSD pair. In response to Christopher Waller's more hawkish remarks on Sunday, U.S. Treasury bond yields rise. It is expected that this, along with a softer tone on equity markets, will benefit the safe-haven dollar and exert some downward pressure on the risk-averse New Zealand dollar.

 

Waller indicated during a conversation in Sydney, Australia, that the markets had overreacted to October's weaker-than-expected consumer price inflation numbers. Waller stated that the Federal Reserve was not lessening its fight against inflation and that a string of moderate CPI readings would be required for the US central bank to soften its approach. This increases US Treasury bond yields and helps support USD demand, notwithstanding the lack of confidence in the intraday rise.

 

A greater possibility that the Federal Reserve will slow the pace of its policy tightening discourages USD bulls from placing risky trades. Moreover, optimism surrounding a likely rollback of COVID-19 measures in China supports the NZD/USD pair and restricts its downside. Therefore, the subdued intraday price movement can be characterized as a bullish consolidation phase, meaning that any significant pullback is likely to be purchased and remain confined.

 

The United States is not slated to provide any market-moving economic data on Monday, leaving the USD at the mercy of US bond yields. Traders will also consider Lael Brainard's anticipated Fed governor address. Together with the broader risk sentiment, this will be analyzed for short-term trading opportunities in the NZDUSD pair prior to the release of Chinese economic data on Tuesday.

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