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Hang Seng Index futures closed up 0.59% at 19,426 points in the night session, 140 points higher.On January 16, the Federal Reserve Beige Book stated that during the reporting period, overall prices rose to a certain extent, ranging from flat to moderately rising. Most respondents in the reserve area said that sales prices had increased moderately, but there were also cases where prices remained flat or fell, especially in retail and manufacturing. Input costs also rose, and respondents specifically mentioned rising insurance prices, especially health insurance. Respondents expect prices to continue to rise in 2025, and some pointed out that tariff increases may drive price increases.Brent crude oil rose more than 2.00% during the day and is now trading at $81.32 per barrel.On January 16, the Federal Reserve Beige Book pointed out that during the reporting period, overall, employment conditions rose slightly, with 6 Federal Reserve districts reporting a slight increase in employment and 6 reserve districts reporting no change. Respondents in several service industries, including healthcare, continued to report an increase in employment. Construction employment increased slightly, while manufacturing employment remained flat. Respondents in multiple industries pointed out that it was difficult to find skilled workers, and reports of layoffs remained rare. However, respondents in some reserve districts showed greater uncertainty about future staffing needs. Wage growth in most reserve districts accelerated to a moderate level, although some reports said wage pressures had eased.US President Biden: The United States will participate in the first phase of hostage release.

Since the focus has shifted to the Fed's policies and oil prices have increased, the USD/CAD has remained relatively stable at 1.2900

Daniel Rogers

Jul 25, 2022 11:46

截屏2022-07-25 上午9.52.23.png 

 

For now, the USD/CAD is struggling due to its inability to stay above the 1.2920 level. Selling pressure and a decrease in the asset are to be expected as investors await the Federal Reserve's interest rate announcement (Fed). The asset has been trading in a range of 1.2855 to 1.2937, but it showed strong recovery on Friday after maintaining its position around the weekly support level.

 

On Wednesday, the Federal Reserve (Fed) will declare its monetary policy, hence the US dollar index (DXY) is likely to remain quiet until after the Fed's announcement. Because of the ongoing damage to US households from rising prices, an announcement of a rate hike is expected soon. The scale of the same, though, will remain the primary worry. There is a good possibility that the Fed will implement a second rate hike of 75 basis points (bps).

 

There is no question that the financial community has not found a significant indication that may suggest that the pricing pressures have reached their limit, but slowdown indicators have intensified as Friday's PMI remained negative and big-name Wall Street earnings are not appealing to investors.

 

The loonie remained weak even after the release of Canada's Consumer Price Index (CPI). Total inflation for the year was 8.1%, which was up from 7.7% in the previous report but lower than the 8.4% forecast. There was also a rise of 10 basis points in the core CPI, which now stands at 6.20 percent rather than the previous edition's 6.10 percent.


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