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On September 15th, data from the National Bureau of Statistics showed that in August, the year-on-year decline in new residential property prices in first-tier cities was 0.9%, a decrease of 0.2 percentage points compared to the previous month. Specifically, prices in Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai saw an increase of 3.0%. In second- and third-tier cities, the year-on-year declines in new residential property prices were 2.7% and 4.1% respectively, both narrowing by 0.1 percentage points. In August, the year-on-year decline in existing residential property prices in first-tier cities was 2.7%, a decrease of 1.0 percentage point compared to the previous month. Specifically, prices in Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. In second- and third-tier cities, the year-on-year declines in existing residential property prices were 4.9% and 5.6% respectively, both narrowing by 0.2 percentage points.New Residential Housing Prices: 1. Beijing: August new residential housing prices -0.2% month-on-month (previous value -0.3%), -2.3% year-on-year (previous value -2.3%). 2. Shanghai: August new residential housing prices +0.4% month-on-month (previous value +0.2%), +3.0% year-on-year (previous value +3.0%). 3. Guangzhou: August new residential housing prices +0.1% month-on-month (previous value +0.1%), -1.9% year-on-year (previous value -2.2%). 4. Shenzhen: August new residential housing prices +0.2% month-on-month (previous value +0.2%), -2.3% year-on-year (previous value -2.9%). Second-hand Residential Housing Prices: 1. Beijing: August second-hand residential housing prices -0.1% month-on-month (previous value 0.0%), -3.5% year-on-year (previous value -4.5%). 2. Shanghais existing home prices in August increased by 0.3% month-on-month (previous value +0.3%) and decreased by 0.8% year-on-year (previous value -2.0%). 3. Guangzhous existing home prices in August remained unchanged month-on-month (previous value +0.4%) and decreased by 3.8% year-on-year (previous value -4.7%). 4. Shenzhens existing home prices in August increased by 0.1% month-on-month (previous value +0.2%) and decreased by 2.7% year-on-year (previous value -3.6%).National Bureau of Statistics: Beijings second-hand housing prices in August decreased by 0.1% month-on-month (previous value +0%) and decreased by 3.5% year-on-year (previous value -4.5%).According to the National Bureau of Statistics, the price of second-hand residential properties in Shenzhen rose 0.1% month-on-month in August (up 0.2% in the previous month) and fell 2.7% year-on-year (down 3.6% in the previous month).September 15th - The 2026 China Carbon Market Conference was held in Wuhan, Hubei Province this morning, and the "National Carbon Market Development Report (2026)" was released at the conference. Reporters learned that as of the end of August, the national carbon emission trading market had accumulated transactions exceeding 900 million tons, with a transaction value exceeding 60 billion yuan. The national carbon market has grown from nothing to a significant stage, playing a crucial role in promoting the achievement of carbon peaking and carbon neutrality goals.

Bears on the AUD/NZD pair are watching 1.1080

Alina Haynes

Aug 09, 2022 15:04

 截屏2022-08-09 上午10.11.28.png

 

The AUD/NZD exchange rate is stable at the Tokyo open and has fluctuated today between 1.1091 and 1.1115 as a result of the Reserve Bank of New Zealand's projections for inflation at the beginning of the week and strong Chinese data.

 

According to analysts at Westpac, as inflation expectations fall, the RBNZ will become more assured that the risks of high inflation becoming ingrained in the economy are waning. This is especially relevant in light of the multi-decade high actual inflation rate and related concerns of a wage-price spiral, analysts said.

 

Analysts did note, however, that the poll "The evidence that there are still strong inflation pressures in the New Zealand economy supports raising interest rates. At the RBNZ policy meeting the following week, a further 50bp increase is anticipated.

 

The New Zealand dollar has since made up all of the losses suffered after Friday's strong US Nonfarm Payrolls report. US bond yields have decreased, which has led to a rise in risk and a decline in the value of the dollar. The most recent surge in NZD strength, according to analysts at ANZ Bank, appears to be the outcome of a stronger AUD, which has reclaimed the lead as markets take in strong Chinese trade data.

 

"Before the critical US Consumer Price data for July is released tomorrow evening, it is doubtful that the NZD will increase much. The Fed's (and the US bond market's) main concern is that monthly core readings will continue to be elevated, even though annual headline inflation may calm down. The specifics will determine if this results in a resurgence of USD strength.


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