EUR/USD 1.15859
-0.082%
Gold 4349.93
0.034%
Oil 98.370
1.288%
USD/JPY 153.741
0.038%
GBP/USD 1.35164
-0.071%
GBP/JPY 207.804
-0.035%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 14th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.1512%, and the lowest was 0.7340%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 0.9690%, and the lowest was 0.8620%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0140%, and the lowest was 0.9010%.September 14th - Driven by the artificial intelligence (AI) boom, the memory chip market is currently in a supercycle, but SK Hynixs DRAM market share is actually declining. This is not due to poor sales of its DRAM products, but rather to the excessively high proportion of high-bandwidth memory (HBM) in its product portfolio, and the difference in production volume with Samsung Electronics. According to data released by market research firm TrendForce on the 14th, SK Hynixs DRAM revenue in the second quarter increased by 37.9% quarter-on-quarter, reaching $38.59 billion. However, its market share dropped by 3.9 percentage points from 28.8% to 24.9%. Samsung Electronics ranked first with a market share of 39.4%, while Micron Technology narrowed the gap with SK Hynix to 1.6 percentage points, with a market share of 23.3%.September 14th - The 18th BRICS Summit opened on Saturday, with the group taking its most concrete step to date in weakening the dominance of the US dollar. On its first day, it adopted a 45-page "New Delhi Declaration" and supported a payment architecture designed to bypass the Western financial system for cross-border trade. For most member countries, this move is gradual. But for Iran—which is under comprehensive US sanctions, a naval blockade, and has been at war with the US and Israel for about six months—its closer to a lifeline. Indian Prime Minister Modi stated after a closed-door meeting that no member country objected to the text. At its core, the economic commitment is to expand trade and investment settled in member countries local currencies and to connect domestic payment and messaging systems so that transactions do not need to pass through the dollar-denominated SWIFT network. According to the declaration, the groups payment working group studied the cross-border interoperability of these channels and explored the use of local currencies for trade settlement and investment. The most attention-grabbing mechanism is BRICS Pay, a decentralized payment messaging framework that combines Indias UPI and Russias SPFS into a shared interoperability layer—a way to clear payments between member states outside of SWIFT.Hong Kong-listed shares of Xiyin-W (00625.HK) fell by more than 5%, with a turnover of over HK$5.86 million.Tesla CEO Elon Musk: GROK 4.8 is a 2.5T model trained using our new C++ software stack, and the model will complete training and begin reinforcement learning this week.

NZD/USD Recovers To Near 0.6250 As The USD Index Retreats In Response To The Fed's Dovish Guidance

Daniel Rogers

Mar 23, 2023 14:56

 NZD:USD.png

 

The NZD/USD pair has extended its recovery to near 0.6250 during the Asian session. After declining to near 102.00, the US Dollar Index (DXY) displayed a brief retracement, and the New Zealand dollar rose sharply from 0.6220. It is anticipated that the USD Index will maintain its downward momentum as the Federal Reserve (Fed) approaches its terminal rate.

 

It was widely anticipated that the Fed would increase interest rates by 25 basis points (bp), resulting in rates between 4.75 and 5.00 percent. Jerome Powell, the chairman of the Federal Reserve, fought harder to maintain his hawkish stance, contending that rate cuts in 2023 are out of the question because restrictive monetary policy is required to reduce inflation to 2%. Fed Chairman Jerome Powell's statement that "additional policy tightening may be warranted" indicated that the Fed is nearing the end of its rate-hiking campaign.

 

After Fed Chairman Powell allayed fears of a bleak economic outlook due to reduced demand and the scope of economic activities, U.S. stocks experienced an enormous sell-off on Wednesday. According to Fed Chair Powell, the US banking system is'sound and resilient,' but credit conditions for households and businesses cannot be ruled out.

 

The New Zealand Dollar is struggling to maintain its footing in Asia-Pacific as the market anticipates a reduced growth rate in the kiwi zone due to recent inundation.

 

According to Reuters, Reserve Bank of New Zealand (RBNZ) Chief Economist Paul Conway stated on Thursday that interest rates were clearly contracting and causing a welcome decline in economic demand, but it was not yet clear that inflation expectations were under control.


Suggestion