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On February 25, oil prices rose for the second consecutive day on Tuesday as the United States imposed new sanctions on Middle Eastern oil producer Iran, exacerbating market concerns about possible tightening of supply. So far, WTI crude oil has risen by 1% and Brent crude oil has risen by 0.85%. IG market analyst Tony Sycamore said that WTI crude oil is seeking a support area of 65-70 US dollars per barrel. As long as prices remain above this range, there will be a recovery. According to the survey, Iran is the third largest oil producer in OPEC, with production of 3.2 million barrels per day in January. But the uncertainty of the demand outlook has limited the rise in oil prices. In addition, the market sees the warming of relations between Trump and Russia as a potential signal of easing sanctions on Russia, which will then increase global oil supply.On February 25, Ming-Chi Kuo, an analyst at Tianfeng International Securities who has been following Apples industry chain for many years, posted on the social platform X that Apples new factory to be opened in Houston, USA in 2026 will produce AI servers equipped with M5 high-end processors. Apple announced on February 24, 2025 that it expects to spend more than $500 billion in the United States in the next four years. It mentioned that a new factory will be opened in Houston in 2026 to produce AI servers for Apple Intelligence Private Cloud Compute (PCC). Its previous forecast mentioned that "Apple PCC infrastructure construction will be accelerated after the mass production of high-end M5 chips." The mass production time of the M5 high-end chip is 2H25-2026, which coincides with the time point when Apple announced the acceleration of AI server capacity expansion.On February 25, Mixue Ice Citys parent company Mixue Groups Hong Kong initial public offering (IPO) was underway. As of the evening of February 24, only the brokerage margin part had recorded HK$1,123.1 billion in margin, which was 3,250 times oversubscribed based on the public offering amount of HK$345 million. Mixue Group plans to be listed on the main board of the Hong Kong Stock Exchange on March 3.The official blog of Ideal Auto (02015.HK) announced that Ideal i8 is Ideals first pure electric SUV.Futures News on February 25: Yesterday, the United States continued to increase restrictions on a certain country in the Middle East, causing the geo-premium to return to the market, but the oil price rose slightly, and the rebound faced greater resistance. The short-term support of US crude oil at $70 was effective and has not fallen below for the time being. Zhuochuang Information predicts that the market will continue to pay attention to the fermentation of the Middle East issue and the solution to the current situation in Europe. The market expects that the geo-premium will be gradually released. In the face of greater downward pressure, the US crude oil position of $70 is difficult to effectively support in the long run, and it is still mainly under pressure and adjusted.

AUD/USD Recovers from 0.6900 as Australian Retail Sales Decline Less than Expected

Daniel Rogers

Feb 06, 2023 16:03

AUD:USD.png 

 

As the Australian Bureau of Statistics reported a smaller-than-expected fall in Retail Sales for the fourth quarter of CY2022, the AUD/USD pair has attempted to recover to approximately 0.6900. The economic figures have decreased by 0.2%, when the market anticipated a 0.6% decline.

 

The Reserve Bank of Australia's (RBA) anticipated release of its interest rate decision on Tuesday will be the most significant event that will generate volatility in the Australian Dollar. As the Australian Consumer Price Index (CPI) has not yet reached its peak, the outlook for the policy stance is quite pessimistic. The rate of inflation in Australia reached a new high of 7.8 percent in the fourth quarter of CY2022.

 

Deutsche Bank Australia analysts believe that the RBA will likely hike the Official Cash Rate (OCR) to 4.1%, citing the most recent inflation update, which revealed a slightly higher-than-anticipated 7.8% increase in the CPI. According to Forbes Advisor, "while the RBA will likely move more slowly in 2023 than in 2022, we now estimate four additional 25 basis point increases this year: 25 basis points in February and March, and 25 basis points at the May and August meetings."

 

Following a significant surge in Nonfarm Payrolls (NFP) data in the United States, the risk profile is currently favoring safe-haven assets. The US Dollar Index (DXY) intends to raise its auction profile over 102.50. S&P500 futures maintained their downward trend during the Asian session, signaling a further decline in market participants' risk appetite. The yield on 10-year Treasury notes has risen to approximately 3.57 percent.


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