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On April 4, the Yangtze River Delta Railway ushered in the peak of passenger flow during the Qingming Festival. It is expected to send 4.1 million passengers today, 365,000 more than the same period last year, an increase of about 9.8%, and is expected to set a new record for single-day passenger volume. This years Qingming Festival railway transportation will start from April 3 to 7. The Yangtze River Delta Railway is expected to send 17.6 million passengers in 5 days, with an average daily passenger flow of 3.52 million, a year-on-year increase of 6.8%.The yield on the two-year U.S. Treasury note fell to a six-month low of 3.6550% and was last at 3.6611%.On April 4, local time on April 3, U.S. Secretary of Health and Human Services Robert Kennedy Jr. said that about 20% of the layoffs in the Department of Government Efficiency were wrong and needed to be corrected. The U.S. Department of Health and Human Services laid off about 10,000 people on the 1st. Kennedy said that people who should not have been laid off were laid off, and the department is restoring their positions. Kennedy said that canceling the entire lead poisoning prevention and monitoring department of the Centers for Disease Control and Prevention was one of the mistakes. At present, it is unclear what other projects Kennedy may plan to restore.Bank of Japan Governor Kazuo Ueda: Will consider the impact of food costs on consumers.On April 4, local time on the 3rd, the automobile company Stellantis said that due to the impact of the US import automobile tariff policy, the company decided to lay off 900 employees in its five US factories and suspend production operations at two assembly plants in Canada and Mexico. Antonio Filosa, Chief Operating Officer of Stellantis Americas, said that the US factories that were laid off were powertrain and stamping parts factories, which produced spare parts for two assembly plants in Canada and Mexico. According to the plan, the assembly plant in Canada will stop production for two weeks, and the assembly plant in Toluca, Mexico will suspend production throughout April. Filosa said the company is "continuing to evaluate the medium- and long-term impact of tariffs on operations."

NZDUSD maintains gains over 0.58 despite a small USD fall; attention focuses on NFP data

Daniel Rogers

Nov 04, 2022 17:44

 截屏2022-11-04 下午4.09.58.png

 

New buying activity emerges near 0.5755 for the NZDUSD on Friday, reversing the previous day's drop to a weekly low. Throughout the early European session, the pair has maintained a bid tone and is currently trading just over the 0.5700 round-figure mark at the day's high.

 

The US Dollar appears to have halted its post-FOMC rally and ended its six-day winning streak, supporting the NZDUSD pair. A generally upbeat mood on the equity markets is anticipated to weigh on the safe-haven dollar and assist the risk-averse New Zealand currency. Aside from this, the USD loss may be attributable to repositioning trading before of the highly anticipated US jobs report, which is due to be released later during the early North American session.

 

However, elevated US Treasury bond yields, which are supported by the Federal Reserve's more hawkish stance, may prevent a deeper USD decline and limit gains for the NZDUSD pair. Recall that Fed Chair Jerome Powell denied expectations of a dovish reversal and stated that it was premature to discuss a halt to the rate-hiking cycle. Powell said that the terminal rate will remain higher than anticipated, resulting in a substantial increase in US Treasury bond yields.

 

In fact, the yield on the two-year US government bond, which is very sensitive to interest rate hike predictions, reached a 15-year high on Thursday and inched closer to the psychological 5% level. In the interim, the benchmark 10-year US Treasury note remains over the 4% threshold, which is bullish for the USD. Ahead of the big data risk, the fundamental environment could prevent traders from launching aggressive bets and limit the NZDUSD pair's gain for now.


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