EUR/USD 1.16500
-0.016%
Gold 3942.41
-0.260%
Oil 60.003
-0.018%
USD/JPY 152.154
0.033%
GBP/USD 1.32707
0.002%
GBP/JPY 201.926
0.053%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On October 29th, SK Hynix reported third-quarter sales of 24.45 trillion won, slightly below the market estimate of 24.51 trillion won. Operating profit reached 11.38 trillion won, exceeding the market estimate of 11.23 trillion won, marking a record quarterly profit. HBM3E and DDR5 sales contributed significantly to the companys fourth-quarter quarterly growth. The company expects both DRAM B/G and NAND B/G to increase at the low end of the 0%-10% range. SK Hynix has completed negotiations with a customer for HBM4 supply, with shipments slated to begin in the fourth quarter. It has also finalized HBM4 supply negotiations with several key customers for 2026, securing all DRAM and NAND customer demand for 2026. The company also announced that capital expenditures for 2026 will increase compared to 2025, with the company aiming to expand production capacity through the M15X.Richardson, head of financial markets at the Reserve Bank of New Zealand: New Zealands financial conditions have eased as interest rates have fallen and credit conditions have become more favorable.On October 29th, local time, Senate Minority Leader Chuck Schumer stated that the U.S. federal government shutdown could continue into November, at which point millions will face high Medicare costs due to the expiration of the Affordable Care Act tax credit. Hundreds of thousands of federal workers have been furloughed, others are working without pay, and federal food assistance is also nearing its end.Pakistans Information Minister: (On the latest developments in Pakistan-Afghanistan dialogue) We will continue to take all necessary measures to protect our people from terrorism.Chiles central bank set its benchmark interest rate at 4.75%.

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