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On August 27, Assistant Minister of Commerce Zhang Li and Zimbabwean Minister of Foreign Affairs and International Trade Ammon Murwera co-chaired the 11th meeting of the China-Zimbabwe Joint Committee on Economic and Trade Cooperation in Harare on August 26, exchanging in-depth views on bilateral economic and trade cooperation and other issues. Zhang Li stated that China is willing to work with Zimbabwe to strengthen the alignment of economic and trade policies, continue to explore the potential of bilateral trade, and deepen investment cooperation in the production, supply, and industrial chains. He hoped that Zimbabwe would accelerate negotiations on the Economic Partnership Agreement for Common Development, providing more convenience and support for Chinese enterprises investing and operating in Zimbabwe. Murwera stated that Zimbabwe attaches great importance to Zimbabwe-China economic and trade relations, appreciates the fruitful results achieved by both sides in the economic and trade field, and is willing to strengthen communication and coordination with China to provide a favorable policy environment for Chinese enterprises operating in Zimbabwe, jointly promoting the sustained and healthy development of bilateral trade, investment, and industrial cooperation. After the meeting, the two sides jointly signed the "Minutes of the 11th Meeting of the Joint Committee on Economic, Technical, and Trade Cooperation between the Government of the Peoples Republic of China and the Government of the Republic of Zimbabwe."Gold rose during Asian trading hours on August 27th. ANZ research analysts wrote in a report that the "dollar depreciation trade" continued to attract investor buying, limiting downside for gold. Despite US inflation indicators remaining above the Federal Reserves target, pushing the market to increase expectations of a Fed rate hike before the end of the year, gold remained supported. Tony Sage of Critical Metals stated that the market is currently focused on Fed Chairman Warshs speech at the Jackson Hole annual symposium later this week, the tone of which is likely to influence market expectations for monetary policy.The Peoples Bank of China (PBOC) announced that on August 27, 2026, it conducted 103 billion yuan of 7-day reverse repurchase operations through a fixed-rate, quantity-based bidding process, fully meeting the needs of primary dealers. Simultaneously, it conducted 503.5 billion yuan of overnight reverse repurchase operations.August 27th - The 2026 China International Big Data Industry Expo will open tomorrow in Guiyang. According to the National Data Administration, all preparations for the expo are complete. Zhang Yan, head of the Comprehensive Department of the National Data Administration, stated that the 2026 China International Big Data Industry Expo focuses on the supporting role of keywords in the value realization of data elements. To date, over 16,000 guests have registered, and 372 domestic and foreign companies have confirmed their participation. We will also hold 89 events, including supply and demand matchmaking and exchange visits, and release 87 important achievements. This years expo also features a special international data supply and demand matchmaking event, building a cross-border platform to help domestic enterprises expand their digital capabilities overseas.The Peoples Bank of China (PBOC) announced today that it conducted 103 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 103 billion yuan. The interest rate for the operation was 1.40%.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

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Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers. 

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.


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