EUR/USD 1.14728
0.447%
Gold 4985.42
-0.612%
Oil 96.271
-0.203%
USD/JPY 159.245
-0.267%
GBP/USD 1.32687
0.319%
GBP/JPY 211.300
0.051%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Shell stated that despite increased oil price volatility caused by the Middle East conflict, it remains optimistic about the long-term prospects of liquefied natural gas.March 16th - Markets widely expect Federal Reserve officials to keep interest rates unchanged at this weeks meeting. Meanwhile, attention is also focused on how the Fed might respond if the consequences of the Middle East conflict contradict its policy objectives. Bank of America senior economist Aditya Bavi stated, "Currently, officials will likely indicate they remain in a wait-and-see mode as they closely monitor the rapidly evolving situation in the Middle East." Regarding the surge in oil prices, Bavi said, "They dont want to jump to conclusions. This is a supply shock. Supply shocks increase the execution risk of their mandate." In addition to the complex economic factors, this weeks Fed meeting is also overshadowed by a tense and high-impact political storm. Last week, a federal judge ruled to dismiss the Justice Departments subpoena against Powell, but US prosecutors vowed to continue their investigation into the Fed and its officials. This could disrupt the Feds expected leadership transition in May.A Reuters poll found that 14 out of 15 economists said the Swiss National Bank should increase its intervention in the foreign exchange market to curb the further strengthening of the Swiss franc against the euro.The United States and South Korea will hold talks this week on a $350 billion fund.On March 16th, Leapmotor (09863.HK) announced that its revenue for 2025 will be RMB 64.73 billion, compared to RMB 32.16 billion in the same period of the previous year. Net profit attributable to equity holders of the company for 2025 is RMB 540 million, compared to a loss of RMB 2.82 billion in the same period of the previous year.

As the US labor market strengthens and China CPI is anticipated, AUD / USD Appears Vulnerable Near 0.6600

Alina Haynes

Mar 09, 2023 13:59

 AUD:USD.png

 

The AUD / USD pair is displaying a back-and-forth pattern during the Asian session below the round-level resistance of 0.6600. The Australian asset appears vulnerable at the same time that the risk-aversion theme has been strengthened by intensifying fears of a U.S. recession and expectations of higher rates from the Federal Reserve (Fed).

 

S&P500 futures are displaying nominal losses following a fragile recovery move. It seems that the dead cat recovery move by the 500-US stocks basket is tapering away. The US Dollar Index (DXY) has turned sideways above 105.20 after a modest correction; however, the upside appears favored amid positive U.S. Employment data.

 

The robust addition of new jobs to the US labor market in February as a result of rising demand has validated Fed policymakers' concerns about persistent inflation. The United States Automatic Data Processing (ADP) reported an increase of 242K positions in February, exceeding both the expected increase of 200K and the previous release of 119K. As a result, Fed Chair Jerome Powell stated, "The Fed is prepared to announce more rates to reduce inflation."

 

The US Nonfarm Payrolls (NFP) data, which will be released on Friday, will provide investors with greater insight into the state of the US labor market. In addition, the dissemination of the Unemployment Rate and Average Hourly Wages will be crucial.

 

The Australian Dollar has been under intensified pressure following the Reserve Bank of Australia's (RBA) fifth consecutive 25 basis point (bps) rate hike and RBA Governor Philip Lowe's consideration of a policy-tightening suspension in response to a one-time blip in the monthly Consumer Price Index (CPI).

 

Investors are currently focused on China's Consumer Price Index (CPI) (February) data. It is anticipated that China's annual CPI will decrease to 1.9% from the previous release of 2.1%. The monthly CPI in China has been reduced to 0.2% from 0.8% previously. If inflation declines, the Chinese government and the People's Bank of China (PBOC) may be forced to infuse more liquidity into the economy.


Suggestion