EUR/USD 1.07983
0.049%
Gold 3130.69
0.531%
Oil 70.972
0.144%
USD/JPY 149.746
0.094%
GBP/USD 1.29243
0.019%
GBP/JPY 193.538
0.130%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Hong Kong-listed auto stocks fluctuated upward, with Leapmotor (09863.HK) rising more than 9%, Geely Auto (00175.HK) rising nearly 5%, NIO (09866.HK) and Li Auto (02015.HK) both rising more than 1%.Asian stocks swung on Wednesday, with safe-haven gold hovering near record highs as the world nervously awaited details of Trumps tariff plan and investors worried about the risk of an intensifying global trade war. "We find that our trading environment is volatile, with price swings in the market driven by market participants adjusting their risk exposure on the margins and unwilling to make commitments," said Chris Weston, head of research at Pepperstone. "Trump called April 2 Liberation Day, but investors are unlikely to be truly free from the uncertainty of tariffs," said Vasu Menon, managing director of investment strategy at OCBC Bank in Singapore. "If other countries retaliate, Trump could raise the stakes -- a possibility that could continue to make investors nervous."On April 2, Jiang Ping, Director of the Inclusive Finance Department of the Financial Supervision Administration, said at a press conference held by the State Council Information Office on April 2 that the Financial Supervision Administration will promote the deep integration of the construction of the social credit system and financial supervision, actively participate in the construction of the social credit system, and guide financial institutions to make good use of the results of the construction of the social credit system. The Financial Supervision Administration will focus on solving the problem of information asymmetry between banks and enterprises, and guide financial institutions to query and use corporate credit information on the premise of compliance with laws and regulations and full authorization, and organically combine it with financial information, and widely use it in product development, credit approval, and post-loan management, so as to improve the quality and efficiency of financial services for the real economy.On April 2, JD.com issued a salary increase notice that Dada employees salaries will be upgraded to 19 salaries this year and to 20 salaries next year; in addition, some outstanding Dada employees will be awarded JD.com Group stocks.On April 2, CICC published a research report stating that due to the decline in coal prices, Yankuang Energy (01171.HK)s net profit fell 27% year-on-year last year, and its performance was roughly in line with the banks expectations. The bank expects the groups H-share earnings per share to be 9.2 billion and 11 billion yuan this year and next year, respectively. Although the decline in coal prices may drag down Yankuang Energys profits in the short term, in the long run, the group has huge growth potential and is optimistic about its profit growth. The bank maintains the groups outperform rating. Due to the slowdown in supply and demand and the decline in short-term profits, the H-share target price was lowered by 38% to HK$10, equivalent to a forecast price-to-earnings ratio of 10.3 times and 8.4 times this year and next year, respectively.

AUD/USD has maintained a multi-day bottom under 0.6700 as Q2 GDP is mixed and focus switches to Fedspeak

Daniel Rogers

Sep 07, 2022 16:47

截屏2022-09-07 上午11.29.53.png 

 

In the wake of contradictory Aussie data and a risk-averse atmosphere during Wednesday's Asian session, the AUD/USD strengthened its bearish bias towards the 0.6700 level and dropped to its lowest level since July 14. Risk barometer pair ignores Australia's efforts to tame inflation-driven economic woes ahead of next month's annual budget presentation.

 

Australian GDP for Q2 slowed to 0.9% from 1.0% expected and 0.8% in the previous quarter. Compared to the market consensus of 3.5% and prior readings of 3.3%, the year-over-year numbers imply a growth rate of 3.6%. The AiG Performance of Services Index for Australia topped 53.3 in August, up from 51.7 earlier in the day.

 

The government of Australia plans to cut the cost of pharmaceuticals and provide assistance to seniors in light of rising inflation. In anticipation of next month's federal budget, Prime Minister Anthony Albanese announced that legislation would be introduced to reduce the maximum co-payment on Australia's pharmaceutical benefits scheme from A$42.50 ($20) per prescription to A$30 ($20). It was also reported that pensioners will receive financial incentives from the government to help them sell their larger homes and move into smaller ones, thus lowering the strain on their retirement savings.

 

However, mounting fears of economic slowdown due to the energy crisis and China's covid troubles, combined with stronger US data and hawkish Fed bets, have supported the US dollar. Despite this, the US Dollar Index (DXY) is currently trading near its 20-year highs, with intraday advances of 0.22 percent near 110.50. CME's FedWatch Tool recently predicted a 50 bps rate hike in September, up from 57 bps the day before.

 

The 10-year US Treasury rate soared to its highest level since mid-June as Wall Street ended in the red, mirroring the general mood. Commodity prices, including oil and gold, continued under pressure, suggesting risk aversion and adding pressure to the AUD/USD exchange rate, which contributed to a decline in S&P 500 Futures of 0.50%.

 

Before the Fed's statement, the AUD/USD will be affected by China's August trade numbers. Reserve Bank of Australia (RBA) Governor Philip Lowe and Federal Reserve Chair Jerome Powell will both speak on Thursday, and their remarks will be widely studied for signs of policy shifts.

Suggestion