EUR/USD 1.17503
0.023%
Gold 4696.68
0.125%
Oil 92.860
-0.512%
USD/JPY 156.400
0.011%
GBP/USD 1.35946
0.016%
GBP/JPY 212.626
0.050%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
1. All three major U.S. stock indexes closed higher. The Dow Jones Industrial Average rose 1.24% to 49,910.59 points, the S&P 500 rose 1.46% to 7,365.12 points, and the Nasdaq Composite rose 2.02% to 25,838.94 points. The S&P 500 and Nasdaq continued to hit new highs. Disney rose over 7%, and Nvidia rose over 5%, leading the Dow Jones. The Wind U.S. Tech Big Seven Index rose 2.39%, with Google and Tesla rising over 2%. The Nasdaq China Golden Dragon Index rose 3.45%, with Baidu Group rising over 11% and Kingsoft Cloud rising over 8%. 2. All three major European stock indexes closed higher. The German DAX rose 2.12% to 24,918.69 points, the French CAC40 rose 2.94% to 8,299.42 points, and the UK FTSE 100 rose 2.15% to 10,438.66 points. 3. US Treasury yields fell across the board. The 2-year Treasury yield fell 7.02 basis points to 3.863%, the 3-year Treasury yield fell 7.66 basis points to 3.889%, the 5-year Treasury yield fell 8.06 basis points to 3.995%, the 10-year Treasury yield fell 7.62 basis points to 4.346%, and the 30-year Treasury yield fell 5.07 basis points to 4.935%. 4. Most London base metals rose, with LME tin up 9.27% to $54,330.0/ton, LME copper up 1.96% to $13,391.5/ton, LME zinc up 1.16% to $3,409.5/ton, LME lead up 0.03% to $1,973.0/ton, LME aluminum down 1.45% to $3,537.5/ton, and LME nickel down 2.25% to $19,200.0/ton. 5. The WTI crude oil futures contract closed down 5.93% at $96.21/barrel; the Brent crude oil futures contract fell 7.2% to $101.96/barrel. 6. International precious metals futures generally closed higher, with COMEX gold futures up 2.95% to $4,703.10/ounce and COMEX silver futures up 5.77% to $77.83/ounce.Market news: South Koreas Minister of Industry stated that investment plans related to the United States will be announced after June.On May 7, Iranian Parliament Speaker Mohammad Qassem Ghalibaf stated in a televised address to the nation on May 6 that the "enemy" is attempting to exert economic pressure through a naval blockade and manipulate public opinion, aiming to undermine national unity and force Iran to surrender. He urged all levels of Iranian officials and the public to work together to counter this. Ghalibaf added that Iran does not underestimate the possibility of military attacks, especially terrorist attacks, but that the "enemy" plans to weaken Iran from within.May 7 - According to a source familiar with the matter, the Trump administration is exploring the use of oil resources beneath U.S. military bases and other Department of Defense facilities to replenish the nations dwindling emergency reserves. The source stated that no decision has yet been made regarding this potential move. This action comes as the U.S. government pledges to explore innovative ways to replenish the strategic petroleum reserve, which has been further depleted during the war with Iran.May 7th - The US has been consistently signaling its intention to end the conflict with Iran. On May 6th, US President Trump repeatedly expressed optimism about reaching an agreement with Iran, stating that a possible agreement would include Iran shipping its highly enriched uranium to the US. In response, Iran stated that US media outlets have been publishing speculative reports and fake news in recent hours to cover up the failure of the US "Freedom Project," "attempting to distort the facts." Iranian Foreign Ministry spokesman Bagaei emphasized that Iran has not yet responded to Pakistan, the mediator, regarding the USs 14-point proposal.

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

Alina Haynes

Jun 08, 2022 11:59

 截屏2022-06-08 下午12.00.41.png

 

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.


Suggestion