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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.

Despite decreased oil prices, USDCAD fights above 1.3400; news on the US midterm elections is in focus

Daniel Rogers

Nov 09, 2022 17:59

 截屏2022-11-09 下午4.15.27.png

 

Amid tumultuous market conditions, the USDCAD is trading near 1.3450 ahead of Wednesday's European session. In addition to covid concerns from China and a cautious disposition before of significant data/events, the closure of the United States government has restricted the Loonie pair's recent fluctuations.

 

However, weakening prices of Canada's principal export, especially WTI Crude Oil, support USDCAD bulls. As of press time, the energy benchmark has decreased for three consecutive trading days, falling 0.85% intraday to approximately $87.75.

 

Aside from this, the US Dollar Index (DXY) shows small increases near 109.70 despite mounting fears of a US government deadlock due to the outcomes of the most recent election. In addition to articles anticipating a six-month high in China's covid rate and additional virus-driven lockdowns, the market's concerns and the USDCAD exchange rate may be heightened.

 

S&P 500 Futures struggle to replicate Wall Street's advances, as US 10-year Treasury rates stay bearish despite breaking a four-day downturn the previous day.

 

The uncertainty around Thursday's US Consumer Price Index (CPI) for October and a speech by the Governor of the Bank of Canada (BOC), Tiff Macklem, provides a challenge to pair purchasers, it should be noted. Recent inconsistent US numbers and Fedspeak, as well as the BOC's delaying of rate hikes, may be to blame.

 

A one-week-old descending trend line depicts the current USDCAD decline. The bearish MACD signal and the obvious breach of the preceding support line from the beginning of October also provide sellers with optimism. In addition, the bearish picture is strengthened by the pair's continued trading below the 200-SMA.


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