NZ Jobless Rate Rises, Rate Cut in Focus

New Zealand's labour market remained soft in the second quarter, with the unemployment rate inching up to 5.2% from 5.1% previously, slightly below 5.3%. Employment declined by 0.1%, while the labour force participation rate dropped to 70.5%, its lowest since Q1 2021, according to data from Statistics New Zealand. These figures align with the Reserve Bank of New Zealand’s projections and support expectations of a 25 basis-point interest rate cut at its upcoming August meeting.

Since August 2024, the RBNZ has slashed its cash rate by 225 basis points to stimulate an economy that entered a recession last year. While GDP rose 0.8% in Q1, the central bank held rates at 3.25% in July to monitor trade disruptions and a slight inflation uptick. However, with inflation tracking well within the 1 – 3% target range and excess economic capacity persisting, further monetary easing appears justified to support job growth and economic recovery.

(NZD/USD Daily Chart, Source: Trading View)

From a technical analysis perspective, the NZD/USD currency pair has been moving within a descending channel since early July, as indicated by the formation of lower highs and lower lows. Recently, the pair rebounded from the lower boundary of the channel and may move upwards to retest the order block between 0.5930 and 0.5970. If bearish pressure prevents the pair from breaking above this order block, it may resume its downward movement and retest the support zone between 0.5840 and 0.5855.

Shareholders Sue Tesla for Self-Driving Fraud

Tesla and CEO Elon Musk are facing a proposed class-action lawsuit from shareholders, accusing them of securities fraud for allegedly concealing serious safety risks related to the company’s self-driving technology, including the Robotaxi. The lawsuit, filed Monday night, came shortly after Tesla’s first public Robotaxi test in late June in Austin, Texas, which reportedly exposed several safety issues, such as speeding, abrupt braking, driving over curbs, wrong-lane navigation, and unsafe passenger drop-offs.

Shareholders claim Musk and Tesla exaggerated the capabilities and readiness of their autonomous driving system, misleading investors and inflating the company’s stock price. The suit cites statements from April 22, including Musk’s promise that Tesla was “laser-focused” on launching Robotaxi in Austin by June, and Tesla’s assertion that its self-driving approach would allow “scalable and safe deployment” across varied locations and conditions.

(Tesla Daily Share Price Chart, Source: Trading View)

From a technical analysis perspective, Tesla's share price has been moving within a narrowing channel since the end of May 2025, as indicated by the smaller price range. Additionally, it has been trading between the support zone of 275 – 290 and the resistance zone of 355 – 365. This price action suggests the stock is accumulating momentum. Once that momentum is released, a breakout in either direction is possible, and the price is likely to follow the direction of the breakout thereafter.

AMD Q2 Sales Jump 32%, But Inventory Raises Flags

Chipmaker AMD reported strong Q2 2025 results, with revenue rising 31.7% year-over-year to $7.69 billion, beating market expectations. Its non-GAAP EPS matched estimates at $0.48 per share. Notably, AMD issued robust Q3 revenue guidance of $8.7 billion (midpoint), which came in 5.1% above analysts' forecasts, signalling confidence in continued demand.

However, AMD’s Days Inventory Outstanding (DIO) stood at 139, about 20 days above its five-year average, indicating elevated inventory levels despite a recent decline. While we were encouraged by improvements in inventory trends and upbeat forward guidance, the slight earnings miss may have disappointed investors. The stock fell 1.5% to $171.79 after the announcement, suggesting the market had priced in higher expectations.

(AMD Daily Share Price Chart, Source: Trading View)

From a technical analysis perspective, AMD's share price has been in a bullish trend since early April 2025, as indicated by the formation of higher highs and higher lows after rebounding from the support zone of 77 – 81. Recently, the price was rejected from the resistance zone of 182 – 187, which may potentially signal a bearish reversal. Further confirmation would be valid if it breaks below the 165 level.