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1.028%
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-0.054%
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0.096%
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The Hang Seng Tech Index has turned positive after falling more than 2% earlier; the Hang Seng Index is currently up 0.1%.On July 14, the Iranian Islamic Revolutionary Guard Corps issued a statement on social media saying that it had attacked multiple weapons support warehouses, a satellite communications center, and a U.S. military base in Bahrain with missiles and drones.The yield on Japans two-year government bonds fell 1.0 basis point to 1.435%. The yield on Japans 20-year government bonds fell 4 basis points to 3.705%.July 14th Futures News Commentary by Guangda Futures: On July 13th, COMEX gold prices plummeted during the session, closing at $4008.7 per ounce, a drop of 2.55%. Domestic SHFE gold prices fluctuated and declined in the night session, closing at 873.26 yuan per gram, a drop of 2.12%. 1. The market refocused on Middle East geopolitics. With the resumption of hostilities between the US and Iran and no signs of cessation, the risk of navigation through the Strait of Hormuz is increasing. Oil prices rebounded rapidly, and the market returned to trading based on the simultaneous rise in inflation stickiness and interest rate expectations, further suppressing precious metals. According to a report in the New York Times on the 13th, Trump stated on Monday that he had notified Congress of the renewed outbreak of hostilities with Iran and that the US would resume its naval blockade against Iran. Market risk appetite was suppressed, and gold prices continued to fall. Furthermore, the weakening AI narrative further compressed market liquidity, suppressing gold price movements. 2. Regarding the Federal Reserve, Fed Governor Waller stated that if core inflation remains high, the Fed may need to raise interest rates, with the probability of a July rate hike slightly increasing. This week will see the release of US June CPI and PPI data, coinciding with Warshs first congressional appearance. The market is concerned that stronger-than-expected data could reinforce Warshs hawkish rhetoric. Overall, golds price action has been characterized by a weak decline and subsequent correction, indicating that its current bottoming-out consolidation is not stable. With geopolitical factors and Fed policy repeatedly intertwined, there is significant divergence between bulls and bears, requiring continued caution.The State Council Information Office will hold a press conference in ten minutes on the import and export situation in the first half of 2026.

AUD/USD struggles to surpass 0.6350; Australian Inflation/US GDP under the microscope

Alina Haynes

Oct 25, 2022 15:37

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During the Tokyo trading session, the AUD/USD pair reversed its decline to trade near 0.6350. The Australian dollar is under pressure as a result of Jinping's pessimism in China. Despite a small decline in S&P500 futures following three straight bullish settlements, the risk-on inclination remains firm. Following a poor beginning in Tokyo, the US dollar index (DXY) is attempting to retake the critical 112.00 mark.

 

The yield on 10-year US Treasury notes has reduced to 4.21 percent as a result of a positive market sentiment. According to the CME FedWatch tool, the probability of a fourth consecutive rate hike by the Federal Reserve (Fed) of 75 basis points (bps) stands at 95%.

 

According to a Reuters survey regarding the Fed's interest rate forecasts, the central bank will announce its fourth consecutive 75 basis point rate increase. According to additional results of the Reuters poll, the central bank should not terminate monetary policy until the inflation rate falls to around half of its current level. Without a question, the Fed's aggressive rate-hiking cycle increases the probability of a future recession.

 

MSNBC reported that US Treasury Secretary Janet Yellen remarked, "Cannot rule out risk" of a recession, creating a huge surge in recession worries.

 

Thursday's Gross Domestic Product (GDP) numbers will dominate the news in the future. The annualized GDP is projected to climb significantly to 2.4%, compared to the earlier forecast of a 0.6% decline.

 

The Australian bulls have been shaken by the extraordinary third term of Chinese leader XI Jinping. China's economic prospects are in jeopardy, which has an effect on Australia's trade projections. Moreover, Australian Consumer Price Index (CPI) data is increasing popularity. According to projections, the annual rate of headline inflation will rise to 7.0% from 6.1% in the previous report.


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