EUR/USD 1.13720
-0.076%
Gold 4096.87
-0.323%
Oil 72.813
-0.110%
USD/JPY 161.576
0.007%
GBP/USD 1.31927
-0.078%
GBP/JPY 213.167
-0.066%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
South Korea has stated that due to explosive growth in demand, SK Hynix and Samsung Electronics need to accelerate their chip cluster projects for more than 10 years.Hang Seng Index futures opened 0.71% higher at 23,480 points, a premium of 144 points.June 24 - According to Taiwanese media reports, technology analysts pointed out that TSMC has been notifying its customers of price increases for wafer foundry services. The price increases not only cover the rumored 3nm process, but also extend to all advanced processes from 7nm onwards, with an overall increase of about 5% to 10%, affecting about 75% of wafer revenue.June 24 - According to Taiwanese media reports, technology analysts pointed out that TSMC has been notifying its customers of price increases for wafer foundry services. The price increases not only cover the rumored 3nm process, but also extend to all advanced processes from 7nm onwards, with an overall increase of about 5% to 10%, affecting about 75% of wafer revenue.On June 24th, the Chicago Board Options Exchange (CBOE) announced the launch of its new prediction market product suite, "Cboe Predicts," on June 23rd. The initial products are binary option contracts based on the mini S&P 500 index (XSP), coded XSPBW and XSPBX. These are currently available on Interactive Brokers and are expected to launch on Charles Schwab in the coming months. Binary options are either-or derivatives, and previously existed in a significant regulatory gray area in the over-the-counter market.

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.


Suggestion