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On May 14th, it was reported that in April 2026, the national used car market saw 1.6712 million transactions, a decrease of 6.73% month-on-month and 1.76% year-on-year, with a transaction value of 113.476 billion yuan. From January to April 2026, the cumulative used car transaction volume reached 6.4932 million vehicles, an increase of 2.93% year-on-year, representing an increase of 184,600 vehicles compared to the same period last year, with a cumulative transaction value of 426.358 billion yuan.Hua Hong Semiconductor (01347.HK): It expects its sales revenue for the second quarter of 2026 to be between US$690 million and US$700 million.On May 14th, the Peoples Bank of China released its April financial statistics report. Preliminary statistics show that the total social financing in the first four months of 2026 reached 15.45 trillion yuan, 893 billion yuan less than the same period last year. Specifically, RMB loans to the real economy increased by 8.5 trillion yuan, 1.29 trillion yuan less than the same period last year; foreign currency loans to the real economy increased by 103.6 billion yuan (equivalent to RMB), 213.4 billion yuan more than the same period last year; entrusted loans decreased by 94.1 billion yuan, a larger decrease of 99.4 billion yuan than the same period last year; trust loans increased by 300 million yuan, 45.1 billion yuan less than the same period last year; undiscounted bank acceptance bills increased by 51.3 billion yuan, 199.2 billion yuan less than the same period last year; net financing of corporate bonds reached 1.5 trillion yuan, 739.3 billion yuan more than the same period last year; net financing of government bonds reached 4.45 trillion yuan, 399 billion yuan less than the same period last year; and domestic equity financing of non-financial enterprises reached 200.8 billion yuan, 65.5 billion yuan more than the same period last year.May 14th - Since the beginning of this year, the national average rainfall has been 7% lower than the same period in normal years, with some areas experiencing 20-60% less rainfall, including western and southeastern Northeast China, western and northern North China, western and northeastern Northwest China, eastern and southern Huanghuai region, Jianghuai region, and most of South China. Water resources departments at all levels have fully utilized the digital twin water conservancy system and the joint scheduling system for river basin water projects to coordinate water demand across upstream and downstream areas, left and right banks, and main streams and tributaries. They have scientifically scheduled water projects to maximize water storage, utilize water during dry seasons, and ensure multi-source complementarity, precisely regulating the water volume and levels of rivers, lakes, and reservoirs to meet irrigation needs. Strengthening water conservation has effectively guaranteed water supply for spring farming and urban and rural water supply security. Currently, the country is gradually entering the flood season from south to north. The Ministry of Water Resources will continue to closely monitor rainfall and water conditions, strengthen forecasting and early warning, conduct rolling consultations and assessments, and coordinate the needs of various parties, including pre-flood drawdown of reservoirs, flood control during the flood season, urban and rural water supply, and agricultural irrigation. It will scientifically schedule key reservoirs in river basins to ensure flood control and water supply security.According to Hong Kong Stock Exchange filings, Standard Chartered Bank repurchased 801,239 shares on other exchanges on May 13, for a total amount of £15 million.

Investor attention is on the Fed's minutes as recession fears drive the US Dollar Index towards 107.00

Daniel Rogers

Aug 16, 2022 11:47

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The US Dollar Index (DXY) rises for a third day in a row during Tuesday's Asian session, gaining bids to 106.58. Thus, the greenback's signal captures the market's rush for risk-free assets in response to worries about the US and China's economies as well as worries about geopolitics in the Middle East, China, and Russia. It is noteworthy that aggressive Fed remarks and weaker US data enhance market trepidation and help DXY bulls.

 

Despite this, the DXY bulls closely monitor the gloomy statistics coming out of China and the US, particularly in light of the recession fears.

 

In August, the US NY Empire State Manufacturing Index fell from 11.1 in July to 31.3, below market estimates of 8.5. The August NAHB homebuilder confidence index in the US fell from 55 to 49, the lowest level since the start of 2020.

 

In other news, China's retail sales slowed in July to 2.7% YoY from 3.1% earlier and 5.0% forecast, while industrial production (IP) fell to 3.8% from 3.8% previously and 4.0% market estimates. Additionally, in an effort to counter bearishness, the People's Bank of China (PBOC) shocked the markets on Monday by reducing the rates on its medium-term lending facility (MLF) by 10 basis points (bps).

 

It should be emphasized that news stories about deteriorating coronavirus conditions in Shanghai, China's financial center, and the restart of Russian bond trading on Wall Street did not spur investors' desire to take risks. The Wall Street Journal's (WSJ) rumors of a potential meeting between US Vice President Joe Biden and his Chinese counterpart Xi Jinping may also encourage investors to take more risks. In a similar vein, Chinese President Xi proposed new efforts to revive the second-largest economy in the world.

 

The Pentagon said on Monday that the US, South Korea, and Japan took part in a missile warning and ballistic missile search and tracking exercise last week off the coast of Hawaii. Between August 22 and September 1, the US and South Korea will collaborate on military drills. The DXY rises as a result of the additional stress that geopolitical worries place on market sentiment.

 

The three-day downtrend in US 10-year Treasury yields is around 2.775%, while S&P 500 Futures are down at least 0.13 percent day-to-day.

 

Moving on, the secondary US housing and activity data released today should be of interest to DXY traders ahead of the release of the FOMC Minutes on Wednesday. The dollar's gauge might remain on the bear's radar if US data keep getting worse.

 

The three-week-old resistance line, which is now support at 106.35, would need to be broken for an extended period of time for DXY bulls to hit the monthly high above 107.00. However, in order to approach July's yearly high close to 109, the bulls need confirmation from late July's peak at 107.45.


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