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The yield on Japans 30-year government bonds rose 4.0 basis points to 3.875%.Hong Kong stocks opened lower and continued to decline, with the Hang Seng Index falling by more than 2% and the Hang Seng Tech Index falling by 1.6%.On June 22, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.4570%, and the lowest was 0.7180%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0310%, and the lowest was 1.0020%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0270%, and the lowest was 1.0020%.On June 22, Iranian media reported that Iranian Foreign Ministry spokesman Baghae said that Iran and the United States reached an agreement after 18 hours of negotiations, and the text will be released by the two mediators, Qatar and Pakistan. Baghae stated on the 22nd that the Iran-US negotiations discussed the groundwork for launching negotiations on a final agreement. All parties agreed that the technical working groups would continue to work on the issues needed to effectively implement the Iran-US memorandum of understanding. "The work of the negotiating teams has come to an end," Baghae said, adding that Iran and the US discussed issues such as issuing licenses for Iranian oil sales and unfreezing Iranian assets, making good progress. Baghae said, "In a sense, we had a very long day. The talks started on Sunday morning. During the four-party talks, the United States made threatening statements, leading Iran to announce that it was unwilling to continue the four-party talks under these circumstances." He also stated that Qatar and Pakistan are committed to continuing the negotiations, but Iran will not continue negotiations in the form of a four-party meeting.Hong Kong-listed Zhipu (02513.HK) continues its upward trend, with its share price breaking through HK$2,500, currently up over 20%.

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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