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Citigroup lowered its price target for Micron Technology (MU.O) from $510 to $425.On March 31, ZhengTong Auto (01728.HK) announced that trading in its shares on the Hong Kong Stock Exchange was suspended at 9:00 a.m. on July 2, 2025, and will remain suspended until further notice. The company is actively working with the offeror and financial advisor to restore the minimum public float, including placing or selling shares to selected independent third parties and identifying opportunities for new share placements, but as of the date of this announcement, no legally binding commitments have been reached. Given that the companys full-year results will not be published until March 30, 2026, some potential investors prefer to make investment decisions after the results are announced, and related discussions will require time to proceed. The company will issue further announcements regarding the progress of restoring the public float in due course.A spokesperson for the European Commission said: "We will not speculate on any possible next steps or related measures that the Commission may take."On March 31, European Central Bank (ECB) Governing Council member Aleksandar Vujicic stated that the rise in inflation expectations since the outbreak of the Iran-Iraq war was not surprising. He said, "This is exactly what we expected and said before – inflation will definitely rise due to events related to Iran. The longer the war lasts and the greater the damage to energy infrastructure, the more likely we are to see upward pressure on energy prices, which will translate into higher inflation." ECB officials are closely monitoring price expectations from consumers, businesses, and investors to decide how to respond to soaring energy costs. This factor drove eurozone inflation to its largest increase since 2022 in March. While some policymakers believe a rate hike may be necessary next month, Vujicic declined to comment definitively. "Nothing is certain, and there will be a lot of data and news before our April meeting," he said.On March 31st, it was learned from industry sources that the Securities Association of China recently issued a notice to the industry, officially launching the assessment of the digital capability maturity of securities companies. The assessment aims to guide industry institutions to systematically "understand their own capabilities," identify problems and shortcomings in their digital transformation through benchmarking, and thus clarify the optimization direction and key areas for future digital capability development. The assessment results will also provide important reference for regulatory authorities to comprehensively understand the overall digital level of the industry and formulate relevant decisions. The simultaneously issued "Securities Company Digital Capability Maturity Assessment Scheme (2026)" details the composition of securities companies digital capability system, maturity level classification, and the significance of the digital capability assessment. It also introduces the basic requirements, assessment process, and specific assessment requirements. Furthermore, the scheme provides a method for calculating the assessment results.

AUD/USD falls approaching 0.7200 despite the former RBA governor's aggressive forecasts

Alina Haynes

Jun 08, 2022 11:59

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Bears and buyers continue to fight for position around 0.7220-25 as sentiment is mixed and investors remain cautious ahead of the week's big data/events. In doing so, the Australian duo struggles to defend the hawkish remarks of former Reserve Bank of Australia (RBA) Governor Ian Macfarlane.

 

Ex-RBA Governor Macfarlane warned early Wednesday morning about chronically rising inflation and the need to drastically increase interest rates. The former policymaker also stated, "There is sufficient scarcity in Australia and the United States to maintain a high inflation rate."

 

In contrast, China's Vice Commerce Minister Wang Shouwen joined China's Vice Finance Minister Zou Jiayi in reiterating concerns about a global economic downturn and a decline in demand. Recent consensus among policymakers held that the rise of global demand is slowing.

 

It's worth noting that a rebound in US Treasury rates and apprehension ahead of Thursday's European Central Bank (ECB) meeting, as well as Friday's US Consumer Price Index (CPI) for May, tend to stifle the AUD/USD pair's movements.

 

In spite of this, 10-year US Treasury note rates jump two basis points (bps) to 2.99 percent the day after breaking a six-day downward trend. A record decline in the US trade deficit and optimism on the US budget appear to have prompted a recall of US Treasury bond sellers. The US trade deficit for April decreased 19.1 percent from the previous day to USD87.1 billion.

 

Other market optimists were defended by US Treasury Secretary Janet Yellen and optimism for a quicker economic rebound in China. Tuesday, US Treasury Secretary Yellen spoke before the Senate Finance Committee about the Fiscal Year 2023 Budget while stating that the US economy faced problems from "unsustainable levels of inflation" and supply chain disruptions. The official said, "An adequate budget is necessary to support the Fed's efforts to control inflation without damaging the labor market."

 

It should be noted that World Bank (WB) President David Malpass's warning that faster-than-anticipated tightening might force certain nations into a debt crisis akin to that of the 1980s appears to have impacted on the quotation as of late. The risk-negative news from Ukraine may follow a similar trajectory. Politico reported that Ukraine has not yet achieved a deal with Russia or Turkey to enable the safe passage of its grain ships in the Black Sea, casting doubt on a U.N. initiative to build a crucial food corridor.

Technical Evaluation

A two-week-old support line protects AUD/USD buyers at 0.7205. However, the 200-day moving average and the recent top, located around 0.7255 and 0.7285, may challenge the Aussie pair's upside before the bulls regain control.


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