EUR/USD 1.13573
-0.007%
Gold 3988.14
-0.272%
Oil 69.796
0.066%
USD/JPY 161.805
0.011%
GBP/USD 1.31829
0.121%
GBP/JPY 213.311
0.134%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 25th, the Hurun Research Institute released the "2026 Global Unicorn List" in Guangzhou. The top three unicorns all focus on large-scale modeling businesses: Anthropic, the parent company of Claude, became the worlds most valuable unicorn, valued at RMB 6.6 trillion, with a single-year increase of RMB 6.1 trillion, setting a record on the Hurun Unicorn List; OpenAI, the parent company of ChatGPT, ranked second with a value of RMB 5.8 trillion; and ByteDance, the parent company of Doubao, ranked third with a value of RMB 3.3 trillion. DeepSeek topped the list of 308 newly minted unicorn companies globally and ranked among the top 15 global unicorn companies with a value of RMB 340 billion. The second-ranked newly minted unicorn company is Project Prometheus, a physical artificial intelligence company co-founded by Jeff Bezos (valued at RMB 258 billion), and the third-ranked company is Kalshi, a US-based compliant prediction market (valued at RMB 150 billion).On June 25th, C-Zhenbao stated on its interactive platform that the companys main products are silicon, quartz, silicon carbide, and alumina ceramic semiconductor equipment components. These products are widely used in integrated circuit plasma etching and thin-film deposition equipment, and are compatible with advanced manufacturing lines for memory and logic chips. Regarding overseas customer expansion, the company has achieved stable batch supply to foreign wafer manufacturers such as SK Hynix; it has also established business partnerships with well-known international manufacturers such as Micron Semiconductor, although large-scale sales have not yet been achieved.UBS Group: Palladium prices are expected to fall to $1,100 per ounce in the coming months.June 25th - According to US media reports, SK Hynix is expected to issue American Depositary Receipts (ADRs) on Nasdaq on July 10th. The IPO plans to raise nearly $30 billion, potentially becoming one of the largest ADR offerings in history. The market generally believes this move will significantly expand its global investor base and could drive a valuation reassessment. Several asset management firms predict a 30% upside potential in the next year if its valuation converges with Microns. One fund manager pointed out that SK Hynix should at least trade at a valuation level comparable to Microns, as demand for memory chips is likely to continue to exceed supply for years to come. This IPO comes during a rare boom in the memory chip industry. Shares of Micron, SK Hynix, and Samsung Electronics have all risen more than 200% this year, marking their best annual performance in decades. The demand for HBM (Hardware-Based Memory) in AI servers is widely seen as a driver of a structural "memory supercycle."On June 25, Foreign Ministry Spokesperson Guo Jia-kun held a regular press conference. A reporter asked about Chinas law enforcement patrols in the waters east of Taiwan. Spokesperson Guo stated that, according to Chinese domestic law and international law, including the United Nations Convention on the Law of the Sea, China possesses an exclusive economic zone and continental shelf in the waters east of Taiwan. The relevant Chinese departments law enforcement patrols in these waters are legitimate measures to exercise jurisdiction in accordance with the law, maintain regional stability and maritime order, and are also necessary actions against Japan and the Philippines manipulation of maritime boundary issues and infringement upon Chinas maritime rights and interests. Relevant countries should respect Chinas sovereignty, territorial integrity, and maritime rights and interests, stop confusing right and wrong and distorting the truth, and relevant institutions should not make statements inconsistent with their status. The DPP authorities turn a deaf ear and a blind eye to the infringements committed by Japan and the Philippines, but instead colluded with external forces to launch a massive attack and smear campaign against the central governments rights protection efforts, and clamored for the fallacy of "Taiwan independence." This once again exposes the DPP authorities stubborn "Taiwan independence" nature and their ugly face of betraying the overall interests of the Chinese nation, and will surely be spurned by compatriots on both sides of the Taiwan Strait and subject to historical reckoning.

AUD/USD bulls retain dominance over 0.68 prior of RBA's Lowe and US NFP data

Daniel Rogers

Dec 02, 2022 15:42

 截屏2022-12-02 上午10.38.24.png

 

The AUD/USD pair oscillates near 0.6800 in the early Asian session on Friday, a day after reclaiming the 11-week high. Despite this, the AUD/USD pair has climbed for three consecutive days as a result of widespread US Dollar weakness and market optimism on China's Covid situation. Weak US statistics could contribute to the rally's vigor.

 

At the time of publication, the US Dollar Index (DXY) was under pressure near 104.70, its lowest level in four months, as the dovish stance of Federal Reserve (Fed) members and the pessimistic comments of US Treasury Secretary Janet Yellen increased expectations of easy rate hikes.

 

Michelle Bowman, governor of the Federal Reserve (Fed), recently stated that we should control the rate of price increases. Prior to him, Fed Governor Jerome Powell and US Treasury Secretary Yellen both alluded to a halt in rate hikes and advocated for a soft landing. Michael Barr, vice chairman of supervision, adding, "At the next meeting, we may reduce the rate of rate increases." Notably, recent remarks by John Williams of the New York Fed appeared to test US Dollar bears as policymakers underlined that the Federal Reserve still has a ways to go with rate hikes.

 

The predominance of bad US statistics, in addition to Fed-speak, weighed heavily on the US Dollar. However, the US Core Personal Consumption Expenses (PCE) Price Index, the Federal Reserve's preferred inflation gauge, matched market forecasts of 5.0% on a year-over-year basis, but dropped to 0.2% on a month-over-month basis, compared to 0.3% that was anticipated. In addition, the US ISM Manufacturing PMI for November dropped to 49.0 from the expected 49.7 and the previous 50.2.

 

In addition, the three consecutive days of a decline in the number of daily Covid infections in China from the record high allowed regulators to hint at the "next step" in combating the virus while announcing a number of easings of activity-control measures. Given the close ties between Australia and China, AUD/USD buyers typically celebrate positive developments in Beijing.

 

Domestic Private Capital Expenditures in Australia for the third quarter (Q3) declined to -0.6%, compared to the predicted 1.5% and the prior -0.3%. Moreover, poor November readings for Australia's AiG Performance of Mfg Index and S&P Global Manufacturing PMI appeared to have weighed on AUD/USD bulls at the multi-day high.

 

Prior to the speech of Reserve Bank of Australia (RBA) Governor Philip Lowe, it appears that the mixed performance of Wall Street and the multi-month low US Treasury yields weighed on AUD/USD bulls. During his address earlier in the week, the policymaker alluded to a reduction in interest rates; hence, the bull's concerns are justified. In addition, the cautious outlook ahead of the crucial US employment report for November, for which preliminary indications have been negative and which may favor Australian buyers if actual results match forecasts, could weigh on prices.

Suggestion