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On October 28th, Xpeng Motors (09868.HK)s Hong Kong stock market capitalization reached HK$167.4 billion, surpassing Li Autos (02015.HK) market capitalization of HK$165.7 billion during trading. Xpengs Hong Kong stock market capitalization has risen by over 80% this year. At the close of US markets on the 28th, Xpeng Motors (XPEV.N) rose 6.48%, while Li Auto (LI.O) fell 1.6%. Xpeng Motors US stock market capitalization of US$21.981 billion surpassed Li Autos US$21.761 billion by US$200 million.Daiwa Capital Markets: Raised target price for Ford Motor (FN) from $11 to $13.International Energy Agency Director Fatih Birol: Sanctions may push up oil prices, but their impact will be limited due to overcapacity and slowing demand.International Energy Agency Director Fatih Birol: If there are no major geopolitical tensions, we will see lower oil and gas prices.According to a press release from the Hong Kong Special Administrative Region Government on October 28, Chief Executive John Lee will depart for South Korea tomorrow (October 29) to attend the Asia-Pacific Economic Cooperation (APEC) Economic Leaders Meeting and related events in Gyeongju. Lee will attend the APEC Economic Leaders Meeting on November 1, and the APEC Leaders Informal Dialogue with Host Guests, the APEC Business Advisory Council Members Dialogue, and a welcome dinner hosted by the conference organizers for the participating leaders on October 31. During the meetings, Lee will hold bilateral talks with leaders of other economies to exchange views on issues of mutual interest. Secretary for Commerce and Economic Development Stephen Yau will also attend the APEC Ministerial Meeting on October 30. Lee will return to Hong Kong on November 2. During his absence, Chief Secretary for Administration Paul Chan will act as Chief Executive.

Amidst increasing Fed hawkish bets, the AUD/USD is anticipated to soar over 0.6880

Daniel Rogers

Jul 11, 2022 11:29

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The AUD/USD pair is first seeking to exceed the significant resistance level of 0.6850 since it is expected that the US dollar index (DXY), which was drained on Friday, would perform poorly going forward. The asset is seeking more gains, and greater upside will be due once it clears the important 0.6880 barrier.

 

Even if US Nonfarm Payrolls (NFP) data is upbeat, dollar bulls are expected to do poorly. In June, the US economy added 372k jobs, well above the average estimate of 268k but falling short of the prior figure. The Unemployment Rate remained at 3.6 percent, the same as in the previous report and estimates. The US economy's superior performance on the job market will undoubtedly make it easier for the Federal Reserve (Fed) to announce large rate increases with less reluctance.

 

However, the drop in average hourly earnings (AHE) on Friday will be bad for the US economy. The economic data were 5,1% annually, which was higher than the forecast of 5% but lower than the prior estimate of 5,3%. Reduced AHE does not assist US families when the inflation rate is out of control. Reduced AHEs will have a significant influence on their revenue during times of increasing pricing pressure. The overall demand may go down as a result of this.

 

Investors are focusing on Thursday's release of the employment figures in Australia. It is projected that the Employment Change, which was previously published as 60,6K, will be substantially lower, at 25K. However, from the previously stated 3.9 percent, the jobless rate will drop to 3.8 percent.

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