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Turkish Presidential Palace: Turkish President Recep Tayyip Erdoğan held a telephone conversation with Iranian President Sergei Pezechzian. The two leaders discussed the ceasefire and the regional security situation. During the conversation, President Erdoğan noted that Turkey had cooperated closely with relevant countries in facilitating the ceasefire. Erdoğan emphasized that the upcoming negotiations, which will begin in the coming days, must be fully utilized to achieve lasting peace and stability. It is crucial not to give those attempting to undermine the process any opportunity, and our country is prepared to provide various forms of support, together with friendly nations, in this new phase.On April 10, Iranian Supreme Leader Mojtaba Khamenei stated on the 9th that Iran has never sought war and does not seek it now, but "we will never give up our legitimate rights." In this regard, Iran views the regional "resistance front" as a unified whole.On April 10, Iranian Supreme Leader Mojtaba Khamenei announced on April 9 that the Iranian nation had achieved a "decisive victory" in the current war imposed on Iran.Irans Supreme Leader Mojtaba Khamenei: We regard all resistance fronts as one.On April 10th, Iranian state television read a statement from Supreme Leader Mojtaba Khamenei on the evening of April 9th, emphasizing that Iran does not seek war, but will not relinquish its rights. This latest statement from Mojtaba was released on the 40th anniversary of the assassination of his father, the late Supreme Leader Ali Khamenei. The statement reviewed Khameneis life and stressed that Irans victory in the war was due to the unity of the government, the army, and the people. The statement indicated that Iran will pursue war reparations and advance its administration of the Strait of Hormuz to "a new phase," while considering the "resistance front" as a unified whole. The statement also called on Irans southern Gulf neighbors (the Gulf Arab states) to stand on the "right side," stating that Iran will extend goodwill to these countries, but only if they distance themselves from "arrogant hegemons."

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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