NZD/USD: restoring positions
The New Zealand currency reversed the movement of quotations, moving to a steady increase in pair with the US dollar during trading on Asian markets, restoring the losses incurred the day before, which were provoked by the strong growth of the US dollar. The "hawkish" statement of the chairman of the US regulator gave positive signals to the national currency, in which he confirmed his intentions to take all possible measures to combat inflation, which threatens the stability of the US economy.
Meanwhile, the published block of economic indicators in the United States disappointed investors. According to the data, the April level of approved licenses for construction work decreased by 3.2%, having shown an increase of 1.2% last month on the eve. Experts predicted the continuation of positive growth, at least at 1.0%. The number of works started at construction sites in April decreased to 1.724 million from the previous figure of 1.728 million works. According to the index on mortgage loans from the MBA, the index's positions collapsed as of May 13, losing 11% at once, showing an increase of 2% in the previous period.
- Resistance levels: 0.6400, 0.6450, 0.6500, 0.6567.
- Support levels: 0.6300, 0.6250, 0.6200, 0.6150.
AUD/USD: "Aussie" is waiting for signals to change dynamics
Due to the slowdown in the strengthening of the US currency, the AUD/USD asset is trading a correction at 0.7016.
The trading instrument has been attempting to deploy large-scale dynamics since the very beginning of the session this afternoon. The positive dynamics is supported by strong data released in the morning on the national employment Exchange, which indicate a reduction in the unemployment rate in Australia from 4.0% to 3.9% in March. The statistics fully coincided with the expectations of the experts of the Central Bank of Australia, which is building its policy to combat inflation, betting on an active reduction in the number of unemployed. The decrease in the unemployment rate was recorded due to an increase in the number of vacancies by 92.4 thousand, which exceeded the last March growth of 20.5 thousand.
- Support levels: 0.6855, 0.6700.
- Resistance levels: 0.7093, 0.7375.
Gold Prices
The banking metal is trading in correction, losing positions, testing the 1814.00 mark.
The "bearish" trend prevails in the asset, as investors remain concerned about the stability of global demand, because everyone is worried about new coronavirus outbreaks in China, which forced local authorities to approve strict quarantine restrictions. Negative economic consequences in the Middle Kingdom are already making themselves felt in the present. Thus, according to the release of publications on the volume of industrial capacity in April, the indicator decreased by 2.9%, having previously shown an increase of 5.0% in March. The level of retail sales decreased by 11.1%, which largely increased the gap from the correction indicator by 3.5% in March. The lockdown provoked an increase in the number of unemployed, raising the overall figure to 6.1%, against 5.8% in March.
- Resistance levels: 1850.0, 1917.0.
- Support levels: 1790.0, 1700.0.
Brent & WTI Crude Oil
On the eve of the Brent black gold quotes showed a moderate decline, revealing the potential of a downward correction that has occurred since Tuesday of this week, retreating from the local peak since March 28, which also meant a psychological threshold of resistance at the level of 114.00.
As reported, the discussion of the sixth block of economic sanctions against Russia by the EU countries has reached an impasse and is in a stalemate. Recall that the next sanctions, among other things, included restrictive measures in full or in part on the import of petroleum products from Russia. As predicted, a number of representatives of countries opposed such measures, close consultations with which could not give the desired result. Discussions in the EU will continue in the near future. The United States has taken the initiative to refrain from a complete import ban, limiting itself for the time being to the revision of duties.
- Resistance levels: 109.00, 112.00, 115.50, 118.32.
- Support levels: 106.00, 102.57, 100.00, 96.50.