EUR/USD 1.15871
0.016%
Gold 4437.07
-0.473%
Oil 84.929
2.679%
USD/JPY 159.863
-0.132%
GBP/USD 1.35431
0.039%
GBP/JPY 216.509
-0.085%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 31, the Ministry of Industry and Information Technology (MIIT) – International Telecommunication Union (ITU) High-Level Seminar on "Space for Development" opened in Shanghai. The three-day seminar includes keynote speeches, roundtable discussions, and field visits, focusing on topics such as space services issues discussed at the World Radiocommunication Conference, opportunities for space-ground integrated operations, the large-scale application of the BeiDou Navigation Satellite System, and the integrated development of space and ground systems. The seminar will feature thematic sharing on the ITUs space rules framework and the space service regulatory practices of various countries, and will host several roundtable discussions on topics such as "Space for Development" and "New Challenges in Frequency and Orbit Resource Management." Participants will exchange views on issues such as space governance, frequency and orbit coordination, and industrial empowerment of developing countries.August 31 - According to South Korean media reports, Samsung Electronics is developing an 8-layer seventh-generation high-bandwidth memory (HBM4E) in cooperation with NVIDIA (NVDA.O). This significantly reduces the stacking height compared to the originally planned 12-layer and 16-layer solutions. NVIDIA has proposed a speed specification of 17-18Gbps, which is about 20% higher than the initial 14.4Gbps sample speed of Samsungs HBM4E. This product is reportedly intended for use in NVHBM.The General Staff of the Armed Forces of Ukraine reported that as of 08:00 local time on August 31, a total of 225 firefights had been recorded in the past 24 hours. Of these, 36 enemy attacks occurred in the Pokrovsk direction.A survey released by the Japanese government on Monday, August 31, revealed that a severe labor shortage remains the primary reason Japanese companies are hiring foreign workers. This highlights the Japanese economys reliance on overseas labor, even as Prime Minister Sanae Takaichi seeks to tighten regulations targeting non-Japanese residents. A multi-option survey conducted by the Ministry of Health, Labour and Welfare showed that 68.2% of companies cited alleviating labor shortages as the reason for hiring foreigners. This reason has remained the top choice every year since the survey began in 2023. Approximately 56% of companies stated that they recruit based on the abilities and qualifications of foreign workers; 18% indicated they hoped to promote workplace internationalization. With Japans declining population and aging workforce, companies are increasing their recruitment of foreign workers to fill labor gaps, leading to a significant increase in the number of foreign workers. A report released this month by Teikoku Databank showed that more than half of companies reported a shortage of full-time employees. The survey also revealed that nearly 30% of companies reported an insufficient number of non-regular employees.Japans construction orders fell 13.4% year-on-year in July, compared with 2.3% in the previous month.

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

EUR:USD.png

 

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.


Suggestion