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The Hang Seng Tech Index turned positive in the afternoon, having fallen nearly 2% in early trading; the Hang Seng Index is now down 0.33%.On July 4, He Xiaopeng, CEO of Xpeng Motors, said, "In the auto market, Xiaomi YU7 (200,000 orders in 3 minutes) is really a myth, even a fairy tale. But the same is true for G7. We are very confident that we can exceed the original planned quantity." He Xiaopeng confidently said that achieving profitability in the fourth quarter is "definitely not a challenge" and that this years operating results will exceed external expectations. G7s operating ability can also be said to be "quite good". "We are not competing on price, but on technology with better management and better quality."According to Kiev, Russia launched 539 drones and 11 missiles at Ukraine at night.Futures July 4, Economies.com analysts latest view today: WTI crude oil futures fell, but remained stable above the key support level of $65.55, which makes it possible to resume the bullish trend in the upcoming period. The recent decline is to gain the required bullish momentum to support its potential rise, in addition to the continued support of EMA50, which strengthens the strength of this level as an important support point. Therefore, we expect that the price will rise in the coming intraday trading, especially if it stabilizes above the $65.55 support level, with the target of $68.00 resistance. The expected trading range is between the $64.50 support level and the $68.00 resistance level. Todays forecast: bullish.Futures July 4, Economies.com analysts latest view today: Brent crude oil prices have declined, trying to get the right bullish momentum to help it break through the current resistance level of $68.70, trying to eliminate the obvious overbought state on the relative strength index (RSI), especially in the case of negative signals, to open up space for further gains. In intraday trading, a strong bullish wave dominated and was supported by its trading above the EMA50 moving average.

USD / NZD Bulls Arrive At The Highs And Apply Pressure Below 0.6250

Daniel Rogers

Mar 02, 2023 16:17

 NZD:USD.png

 

NZD/USD is down roughly 0.27 percent, falling from a high of 0.6257 to a low of 0.6238, wiping out some of the gains made in the middle of the week in reaction to information indicating a recovery in China demand, which raised commodity prices.

 

This came after Australia released a disappointing report, where GDP growth fell to 0.5% quarter-over-quarter from 0.7% earlier and fell short of consensus forecasts of a 0.8% rise. The information raised the chance that the Reserve Bank of Australia would stop raising rates sooner than anticipated, which originally hurt both currencies.

 

However, the kiwi profited from speculative buying after China's non-manufacturing activity expanded at a faster pace in February and the Caixin/S&P Global manufacturing PMI report for last month also exceeded expectations. The offshore yuan rose 1.3% to 6.8683 per dollar, recording its largest one-day rise since late November.

 

The New Zealand currency outperformed most of its peers, according to ANZ Bank analysts, and did well on crosses, especially NZD/AUD. "After the strong German CPI report, the EUR was a strong performer, and the Kiwi followed suit. This trend may have been worsened by stop-loss buying in the NZD/AUD pair because there was no clear NZD catalyst. This may result in muted price action in the coming days.

 

The USD mood is also changing. Bond yields climbed as a result of strong data last week, which caused the DXY to soar. However, last night's solid data dragged on the dollar in a "good news is bad news" way, probably due to worries that the Fed will orchestrate a recession. Is the strength of the NZD a tardy acknowledgment of the economy's resilience and post-cyclone recovery? Has performed admirably."


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