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December 21 – According to sources, another oil tanker has been seized by the United States in waters near Venezuela as President Trump intensifies his oil blockade against the government of Venezuelan President Maduro. The seized tanker, the "Bella 1," is a Panamanian-flagged vessel under U.S. sanctions and was en route to Venezuela to load cargo. This interception follows the seizure of the "Century" supertanker early Saturday morning and the seizure of the "Skipper" tanker on December 10. The White House did not immediately respond to a request for comment.On December 21, local time, the Israel Defense Forces (IDF) issued a statement saying that during operations in northern Gaza that day, several suspicious individuals were spotted gathering near the Yellow Line, the ceasefire line. IDF fired warning shots, but three armed men crossed the Yellow Line and approached IDF forces, posing a "direct threat." IDF airstrikes subsequently killed them. The statement also noted that in two other separate incidents in northern Gaza, IDF forces also discovered two armed men crossing the Yellow Line and approaching soldiers. IDF airstrikes subsequently killed them.On December 21, the French presidential palace stated that it would determine the "best way" for French President Macron to hold dialogue with Russian President Putin "in the coming days." The French presidential palace welcomed Russias statement that Putin was willing to engage in dialogue with Macron, and that France believed the aim of such dialogue was to achieve a "stable and lasting peace," and that the content would be "transparent" to Ukraine and Europe.December 21 - According to a report released by the Indonesian Meteorology, Climatology and Geophysics Agency, a 5.6-magnitude earthquake struck off the coast of North Maluku province, Indonesia, at 19:21 local time on December 21. The epicenter was located at 1.47 degrees north latitude and 126.34 degrees east longitude, with a focal depth of 27 kilometers.December 21 - On December 21, MiniMax, a general artificial intelligence company, published its post-hearing information set prospectus for the first time.

As China's official PMI rises, the USD/CNH exchange rate fluctuates below 6.7600

Daniel Rogers

Jan 31, 2023 16:38

The USD/CNH currency pair is experiencing unpredictable volatility as a result of the National Bureau of Statistics (NBS) of China releasing strong official PMI data. The Official Manufacturing PMI has hit 50.1, exceeding both the 49.7 consensus expectation and the 49.0 level from the prior month. In addition, the Non-Manufacturing PMI has grown from 51.0 to 54.4. Despite the fact that households were preoccupied with celebrating the Lunar New Year in January, the scale of economic operations in China increased considerably.

 

The Caixin Manufacturing PMI data, which will be issued on Wednesday, will be the catalyst for a ferocious move in the Chinese Yuan. The economic indicators may rise to 49.5, up from 49.0 earlier.

 

As a result of the elimination of restrictions on the movement of people, products, and machines, China's economy is operating at full capacity. According to a Reuters poll, China's economic growth is anticipated to return to 4.9% in 2023 before stabilizing in 2024, as policymakers pledge to bolster support for the COVID-ravaged economy. In addition, the People's Bank of China will cut the Loan Prime Rate (LPR) by 5 basis points (bps) in the first quarter of CY2023, according to the survey.

 

In the interim, the risk-off impulse is regaining traction as S&P500 futures have surrendered more than half of the gains made by Asia's early trading session. As the Federal Reserve (Fed) prepares to raise interest rates to achieve its inflation objective of 2%, risk-perceived assets are anticipated to remain volatile. Fed chair Jerome Powell is likely to announce a 25 basis point (bps) interest rate hike due to the sharp declines in consumer spending and the Producer Price Index (PPI) in the United States economy.


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