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On March 23, Country Garden Holdings Co., Ltd. (02007.HK) announced in Hong Kong that the Group expects its profit for the year ended December 31, 2025 to be between approximately RMB1 billion and RMB2.2 billion, compared to a loss of approximately RMB35.145 billion in 2024. The turnaround to profit this year is mainly due to the non-cash gain recorded from the Groups debt restructuring. Excluding the impact of the aforementioned debt restructuring gain, the Groups loss was mainly due to industry factors, which put pressure on the gross profit margin of the Groups development business, and further impairment provisions for certain assets and property projects.Money markets reduced bets on a European Central Bank rate hike, with deposit rates now expected to be 2.72% by year-end, compared to an earlier forecast of 2.94%.U.S. energy stocks gave back gains in pre-market trading, with Chevron down 1.2%, ExxonMobil down 1.3%, Occidental Petroleum down 4.5%, and ConocoPhillips down 1.8%.On March 23, China Aoyuan (03883.HK) announced in Hong Kong that the company and AddHero are finalizing the distribution arrangements for the relevant trust assets and have exercised their discretion. In accordance with the terms of the China Aoyuan and AddHero schemes, without extending the application deadline (which expired on February 27, 2026), the holding period will be further extended to allow the trust assets to be distributed in accordance with the terms of the holding period trust deed. The holding period will end when the trust assets are distributed.According to RIA Novosti, Russian Foreign Minister Sergey Lavrov stated that the attack on Iranian nuclear facilities is unacceptable.

AUD/USD continues to swing near 0.6860 despite positive Australian employment data

Alina Haynes

Dec 15, 2022 11:35

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The AUD/USD currency pair continues to be affected by the Federal Reserve's monetary policy decision (Fed). The Australian dollar has continued to bounce at 0.6860 despite the Australian Bureau of Statistics' announcement of a significant improvement in Employment Change data. The Australian economy has created 64K new jobs, as opposed to the 19K expected and the 32.2K seen earlier. The unemployment rate has remained unchanged at 3.4%.

 

Previously, 12-month inflation forecasts for Australian consumers declined to 5.2% from 5.7% and 6.0% in the prior edition. Reserve Bank of Australia will be delighted by a considerable decline in inflationary pressures (RBA). Philip Lowe, the RBA's governor, has been tightening monetary policy to reduce the CPI (CPI).

 

Notably, a drop in one-year inflation expectations will not compel the RBA to abandon further interest rate hikes, given that the route to achieving a 2% inflation rate is not yet complete. The Reserve Bank of Australia (RBA) could boost the Official Cash Rate (OCR) by 25 basis points (bps).

 

A change in the Federal Reserve's (Fed) current monetary policy plan caused volatility in the US Dollar. After the Fed announced a lesser rate hike of 50 basis points (bps) and abandoned the 75 basis point rate hike cycle, the US Dollar Index (DXY) plummeted to a six-month low of 103.49. As the fight against inflation will take some time, the Federal Reserve has raised the peak interest rate to 5.1% by the end of CY2023.


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