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Gold prices have retreated in the short term, currently falling below the resolution low of 3645. The VIP Market Monitoring Tool - Indicator Resonance Point (15-minute) shows that the strongest upward resistance for gold is at 3649.56, the four-hour low and a multi-period Fibonacci retracement level. Strongest downward support is at 3634.50, the lower band of the hourly Bollinger Band. The long-short order ratio shows that 50.78% of funds are short, slightly outnumbering long positions. Furthermore, capital flows show a significant decrease in volume, prompting caution for a continued correction. For more information, see the "VIP Zone - Market Monitoring Tool."Kuwaits Oil Minister: Oil demand is expected to increase after the US interest rate cut, especially from Asia.Germanys DAX30 index opened up 171.94 points, or 0.74%, at 23,518.89 points on Thursday, September 18; Britains FTSE 100 index opened up 18.98 points, or 0.21%, at 9,227.35 points on Thursday, September 18; Frances CAC40 index opened up 31.76 points, or 0.41%, at 7,818.74 points on Thursday, September 18; Europes The STOXX 50 index opened up 34.55 points, or 0.64%, at 5404.25 points on Thursday, September 18; the Spanish IBEX 35 index opened up 92.38 points, or 0.61%, at 15232.38 points on Thursday, September 18; and the Italian FTSE MIB index opened up 292.02 points, or 0.70%, at 42247.00 points on Thursday, September 18.The Central Bank of Jordan cut interest rates by 25 basis points.On September 18th, Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), stated in a statement that the penetration rate of new energy commercial vehicles in commercial vehicles will reach 20% in 2024, a significant increase compared to 2023. In August 2025, the penetration rate of new energy commercial vehicles reached 30%, a 7 percentage point increase from 23% in August of the previous year, showing relatively strong performance. From 2019 to 2021, the penetration rate of new energy commercial vehicles as a whole was around 3%, reaching 9% in 2022, 11% in 2023, and 20% for the entire year of 2024. From January to August 2025, the penetration rate reached a good level of 25%, reflecting the strong growth momentum of new energy commercial vehicles. In August 2025, the penetration rate of new energy commercial vehicles was 30%, a 7 percentage point increase over the same period last year, and a 7 percentage point increase from January to August, which was stronger than the growth of passenger cars.

The New Zealand dollar soared to a three-week high! Supported by two positives

Eden

Oct 26, 2021 10:52

On Thursday (October 14), the New Zealand dollar rose sharply against the U.S. dollar, hitting a three-week high. It is currently hovering above the 0.7030 area, boosted by the weakening of the U.S. dollar and expectations of interest rate hikes.


Multiple favorable factors helped the New Zealand dollar to continue the rebound from the 0.6910 support level after the US inflation data the previous day and the market rose for the second consecutive day on Thursday. At a time when the demand for the US dollar is weak, the stock market as a whole rises, and the continued risk appetite is favorable for risky currencies.

On Wednesday, the U.S. dollar appeared a typical "buy rumors, sell the facts" market. After the release of the US inflation data, it reversed the upward trend of this week to a 13-month high. The overall US CPI in September was actually 0.4%, an annual rate increase of 5.4%. The data was slightly higher than market expectations, but failed to stimulate dollar bulls.

Investors still seem to agree with the Fed’s inflationary rhetoric, as evidenced by the further decline in long-term U.S. Treasury yields. This is also another factor that suppressed the dollar's decline. Nevertheless, the expectation that the Fed will soon announce a reduction in the size of its debt purchases, as well as the expectation that the Fed may raise interest rates in advance, have helped limit the dollar's decline.

The minutes of the Fed's Federal Open Market Committee (FOMC) monetary policy meeting in September show that the Fed will continue to reduce bond purchases as planned later this year. In addition, more and more policy makers worry that inflation may continue, forcing investors to advance the possible interest rate hike from December 2022, which is already reflected in prices, to September 2022.

The strength of the New Zealand dollar is also supported by the lead of interest rate hikes by the Reserve Bank of New Zealand.

The Reserve Bank of New Zealand raised the official cash rate (OCR) by 25 basis points to 0.5% last Wednesday (October 6), in line with market expectations. The outside world generally believes that the interest rate hike is aimed at curbing the rise in inflation and cooling the overheated economy.

This is also the bank's first rate hike in seven years. The Reserve Bank of New Zealand is expected to raise interest rates by another 25 basis points to 0.75% in November, and will raise interest rates three more times next year. By August, the official cash rate will reach 1.5%, which is second to none among the world's major central banks.

However, Geoff Bascand, vice chairman of the Federal Reserve Bank of New Zealand, expressed concern on Thursday: New Zealand’s rapid economic recovery still faces risks from the new crown virus and “unsustainable housing prices”, so the financial sector needs to avoid taking too much. Debt.

Baskander said that the strong balance sheets of households, banks and the government have allowed the country to recover strongly and need to be protected.

He said in a speech: "We are still in a state of high uncertainty; the new crown epidemic still poses a risk to economic recovery, and we assess that housing prices are at an unsustainable level."

"We will take action when needed to ensure that the balance sheets of regulated financial institutions can withstand future pressures from the economy and financial system and avoid excessive exposure to vulnerabilities."

The upper resistance pays attention to 0.7052, 0.7081, 0.7103, and the lower support pays attention to 0.7000, 0.6979, 0.6934.

(New Zealand dollar against the US dollar daily chart)

At 21:24 GMT+8, the New Zealand dollar was quoted at 0.7033 against the U.S. dollar.