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The General Staff of the Ukrainian Armed Forces: In the past day, the Russian army lost about 1,000 soldiers, as well as 3 armored personnel carriers, 45 artillery systems and other equipment.On October 19th, Russian law enforcement revealed that Ukrainian armed forces were using a satellite system from the British company OneWeb to control unmanned boats in the Black Sea, and that a similar unmanned boat had been captured as a trophy. Sources said Ukraine was using the system as a backup communication channel for the Starlink system. "OneWeb terminals have been integrated into the maritime drone control system. Now, OneWeb is used as a backup communication channel alongside the primary system, the US Starlink," the source said. He explained that unlike Starlink, which uses thousands of low-orbit satellites, OneWeb deploys its network in medium-Earth orbit. This allows for wider coverage per satellite, but requires more complex and expensive user terminals.On October 19, a source in the Russian security department revealed that the number of mercenaries holding American passports killed by the Russian armed forces in special military operations in Ukraine has reached nearly 100. The source said: "Since the end of February 2022, about 100 American citizens fighting alongside Ukrainian militants have been killed in Ukraine." The source pointed out that obituaries of many people have been published on social networks and Ukrainian media.On October 19th, Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), stated in a statement that 23 models saw price reductions in September this year (compared to 36 models in the same period last year and 11 models in the same period in 2023), indicating that the current market remains relatively stable. Promotional activity for new energy vehicles remained at a mid-to-high 10.2% in September 2025, an increase of 2.6 percentage points year-on-year and a slight increase of 0.7 percentage points from the previous month. Promotional activity for traditional fuel vehicles reached 23.9% in September 2025, up 1 percentage point from the previous month and 1.9 percentage points year-on-year. The overall wholesale structure of major passenger car manufacturers continued to shift in September, with some mid-segment companies showing signs of gradual growth. Companies such as Geely Auto, Dongfeng Nissan, Xpeng Motors, Xiaomi Motors, and Leapmotor saw strong month-on-month performance. The independent brands of large state-owned groups have achieved strong growth. The independent brands of the five major state-owned groups, including SAIC, Dongfeng, Changan, Chery, and BAIC, increased by a total of 25% year-on-year in September. Among them, the second generation of independent brands of Shenlan, Lantu, Arcfox, and large groups showed strong growth.Nvidia (NVDA.O) CEO Jensen Huang will attend the Asia-Pacific Economic Cooperation (APEC) CEO Summit in South Korea.

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

Alina Haynes

Sep 01, 2022 15:16

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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.

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