• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On November 30th, Japanese Finance Minister Satsuki Katayama stated on Sunday that the recent sharp fluctuations in the foreign exchange market and the rapid depreciation of the yen were clearly not driven by fundamentals. "Our position is to issue a warning about such events," Katayama said. She reiterated that currency intervention is still possible in response to excessive yen volatility and speculative movements. This aligns with the September Japan-US joint statement, which stated that exchange rates should be determined by the market. On Monday, the market will closely watch for comments from Bank of Japan Governor Kazuo Ueda to see if he signals a possible interest rate hike at the Bank of Japans December meeting.The Kurdistan Regional Governments Electricity Department: Operations at the Khormor oil field have resumed, and the transmission of natural gas to the power plant began at 2:00 AM.On November 30th, three OPEC+ representatives indicated that OPEC+ is likely to maintain its first-quarter 2026 oil production levels at its Sunday meeting, a move that would moderate its efforts to regain market share amid growing market concerns about oversupply. Similar comments were made by other sources this week. The organization had been cutting production for years until April of this year, when eight member countries began increasing output to restore market share.November 30th - The 2026 national civil service examination for central government agencies and their affiliated institutions was held today. The Administrative Aptitude Test was held from 9:00 AM to 11:00 AM, and the Essay Writing Test was held from 2:00 PM to 5:00 PM. The 2026 national civil service examination plans to recruit 38,100 people, a decrease of 1,600 from last year. Although the number of recruits has decreased slightly compared to last year, the number of applicants has reached a record high. According to data released by the State Administration of Civil Service, 3.718 million people passed the qualification review by employing units, with a ratio of approximately 98:1 between those who passed the qualification review and the planned recruitment number.On November 30, Venezuelan Foreign Minister Silva issued a statement via social media on the 29th, strongly condemning the US governments actions that threatened Venezuelas airspace sovereignty, calling it a "colonial threat" and "illegal aggression," and announcing that the US actions had forced the suspension of flights for Venezuelan migrants to return home. The statement noted that US President Trump posted a message on social media that day attempting to exercise "illegal extraterritorial jurisdiction" over Venezuela, issuing "orders" over Venezuelan airspace. The Venezuelan government firmly opposes this, believing that it seriously infringes upon Venezuelas airspace sovereignty, territorial integrity, and aviation safety, and is a "hostile, unilateral, and arbitrary act" that violates the purposes and principles of the UN Charter.

As China PMIs decrease, the Fed moves, and US NFP is predicted, USD/CNH surpasses 7.2800

Alina Haynes

Oct 31, 2022 16:37

截屏2022-10-31 上午11.11.46.png 

 

As China's monthly activity data disappoints offshore Chinese yuan (CNH) investors, the USD/CNH continues to draw buyers for a third consecutive day on Monday, advancing 0.23 percent intraday to 7.2850 as of press time. Concerns regarding covid difficulties in the dragon kingdom and apprehensions regarding a hawkish move by the Federal Reserve also encourage buyers to remain positive.

 

As a result, China's official NBS Manufacturing PMI for October dropped to 49.2, compared to the expected 50.0 and the previous 50.1. In addition, the Non-Manufacturing PMI fell to 48.7, below market estimates of 51.9 and previous readings of 50.6. Following the publication of the data, Reuters produced an article "In October, China's factory activity unexpectedly dropped, according to a survey released by the government on Monday. Global demand decline and strict COVID-19 regulations impeded manufacturing."

 

Due to the US dollar's status as a safe haven, the shutdown of a casino resort in Macau and Russian concerns also add to the USD/appreciation. Russia, which invaded Ukraine on February 24, halted its participation in the Black Sea agreement for a "indefinite period" on Saturday because it could not "guarantee the protection of civilian ships" traveling under the treaty after its Black Sea naval was attacked.

 

The fact that US Treasury yields are directionless after a bad economic report is notable, as is the fact that US stocks futures are seeing modest losses as the Dow Jones prepares for its highest monthly gain since 1976. In addition, the US Dollar Index (DXY) demonstrates a three-day increase near 110.80, with an intraday increase of 0.1% as of press time.

 

In conclusion, the USD/CNH bulls may maintain control because China's fundamentals are weaker than those of the United States. Concerns that the Fed may suggest slowing the pace of rate hikes beginning in December have recently appeared to test buyers of currency pairs.