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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.

NZDUSD maintains gains over 0.58 despite a small USD fall; attention focuses on NFP data

Daniel Rogers

Nov 04, 2022 17:44

 截屏2022-11-04 下午4.09.58.png

 

New buying activity emerges near 0.5755 for the NZDUSD on Friday, reversing the previous day's drop to a weekly low. Throughout the early European session, the pair has maintained a bid tone and is currently trading just over the 0.5700 round-figure mark at the day's high.

 

The US Dollar appears to have halted its post-FOMC rally and ended its six-day winning streak, supporting the NZDUSD pair. A generally upbeat mood on the equity markets is anticipated to weigh on the safe-haven dollar and assist the risk-averse New Zealand currency. Aside from this, the USD loss may be attributable to repositioning trading before of the highly anticipated US jobs report, which is due to be released later during the early North American session.

 

However, elevated US Treasury bond yields, which are supported by the Federal Reserve's more hawkish stance, may prevent a deeper USD decline and limit gains for the NZDUSD pair. Recall that Fed Chair Jerome Powell denied expectations of a dovish reversal and stated that it was premature to discuss a halt to the rate-hiking cycle. Powell said that the terminal rate will remain higher than anticipated, resulting in a substantial increase in US Treasury bond yields.

 

In fact, the yield on the two-year US government bond, which is very sensitive to interest rate hike predictions, reached a 15-year high on Thursday and inched closer to the psychological 5% level. In the interim, the benchmark 10-year US Treasury note remains over the 4% threshold, which is bullish for the USD. Ahead of the big data risk, the fundamental environment could prevent traders from launching aggressive bets and limit the NZDUSD pair's gain for now.


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