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24 January 2025,02:33
Trade Of The Day
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24 January 2025, 02:33
* Fresh Stimulus: The New Zealand dollar gained against the U.S. dollar following new stimulus announcements from both China and New Zealand. On Thursday, Chinese authorities introduced measures to stabilize their stock markets, including allowing pension funds to increase investments in domestic equities. Additionally, state-owned insurance companies are set to inject hundreds of billions of Yuan into A-shares annually, with officials highlighting that major insurers still have room to expand their market investments. In New Zealand, Prime Minister Christopher Luxon unveiled plans to ease foreign investment rules to attract and support international investors.
* Technical Breakout: NZDUSD was traded higher following prior breakout above the previous resistance level 0.56700. MACD which illustrate diminishing bearish momentum signal suggest the pair to likely extend its gains.
* Resistance and Support: If the bullish momentum persists, there’s a strong likelihood that the price will potentially head towards the level 0.57500. Conversely, a potential reversal is also to be expected and the price could head back towards 0.55850 after it breach back below the level 0.56700.
Looking ahead, market attention is likely to continue to center on Donald Trump’s policy updates, as traders assess their potential impact on the global economy. On the economic front, the calendar is relatively light, but U.S. data such as S&P Global PMI figures and Existing Home Sales will still draw focus.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Stay updated on US and New Zealand data, Trump updates, global market updates, central bank updates and any shifts in the US Dollar’s strength and any shifts in the US Dollar’s strength by following PU Xtrader’s financial news page.
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28 January 2025, 02:27 Euro Weakens as Markets React to New Tariff Warnings
27 January 2025, 02:29 USD/JPY Declines Following BoJ Rate Increase
24 January 2025, 02:33 New Zealand Kiwi Rose As China Unveils Stimulus Measure
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