EUR/USD 1.16669
0.282%
Gold 4577.56
1.552%
Oil 58.796
0.304%
USD/JPY 157.567
-0.198%
GBP/USD 1.34370
0.231%
GBP/JPY 211.729
0.035%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
China Software International (00354.HK): The company indirectly holds 403,000 shares of MiniMax through JointForce. Based on the closing price of MiniMax on its first day of listing, which was RMB 345 per share, this investment brought an unaudited value change gain of approximately RMB 89.92 million.On January 12th, Allianz Chief Economic Advisor Mohamed El-Erian commented on the investigation into Federal Reserve Chairman Jerome Powell, stating that the current situation may expose deeper problems and further erode the Feds already fragile public credibility. He added that he had suggested months ago that the chairman should resign to maintain the Feds independence, expressing concern about this very situation. He emphasized the urgent need for a successor who is committed to implementing necessary reforms to restore the effective operation of the worlds most influential central bank.U.S. 10-year Treasury futures rose 3 points, and 30-year Treasury futures rose 4 points.New York silver futures surged 5.00% on the day, currently trading at $83.31 per ounce.On January 12th, Independent Variable Robotics announced the completion of a 1 billion RMB Series A++ financing round. This round was jointly invested by top investment institutions including ByteDance, Sequoia China, Beijing Information Industry Development Fund, Shenzhen Capital Group, Nanshan Strategic Investment, and Wuxi Venture Capital, as well as diverse local platforms. It is understood that this is also the first investment since the establishment of Shenzhen Capital Groups AI fund. Notably, in addition to ByteDance, Independent Variable Robotics has previously received investments from Meituan and Alibaba, making it the only embodied intelligence company in China to be simultaneously invested in by these three internet giants.

AUD/USD falls to 0.68 on dismal Aussie/China statistics and risk aversion

Alina Haynes

Sep 01, 2022 15:16

截屏2022-09-01 上午10.37.55.png


As bears cheer on weak Australian statistics and a risk-off mindset on Thursday, the AUD/USD drops to a new 1.5-month low near 0.6800. Yet, adverse concerns about China, its major customer, may also be to blame for the current weakness of the Aussie pair.

 

Caixin Manufacturing PMI in China fell to 49.5 from 50.2 predicted and 50.4 earlier, signaling the steepest decline in activity in three months.

 

In other news, Home Loans in Australia dropped by -7.0% in July, worse than the -3.0% drop forecast and the 3.3% drop seen in June. For the same time period, Investment Lending for Homes fell by -11.2%, compared to a drop of 6.3% in the previous month. It should be noted that contrary to projections of a 1.5% expansion, private capital expenditure in Australia shrank by 0.3% in the second quarter (Q2).

 

The risk premium on 10-year US Treasuries has risen to a two-month high of about 3.21 percent, and the risk premium on 2-year bond coupons has risen to its highest level since at least 2007. The S&P 500 Futures were trading at 3,930, down 0.36 percent intraday, their lowest level since late July as of publishing.

 

Recent market sentiment has been pushed down by worries about another ship blocking the Suez Canal, skepticism about China's covid circumstances, poor data, and conflicts with the United States over Taiwan. The president of Taiwan, Tsai Ing-Wen, has recently expressed an interest in bolstering ties with the United States in the semiconductor industry.

 

In light of the Fed's recent aggressive posture, despite conflicting data, AUD/USD bears are likely to hold control as China-related news is also unfavorable. Before Friday's release of the US Nonfarm Payrolls report, traders may find some diversion in today's release of the US ISM Manufacturing PMI for August, which is expected to be 52.8 from 52.0 before (NFP).

 

If the AUD/USD drops below May's low at 0.6830, the next major support is seen in early July near 0.6760. Alternately, a support-turned-resistance line from early August, near 0.6850, will join the 0.6830 barrier to probe the pair's corrective slide.

Suggestion