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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.

The AUD/USD is hovering around 0.7500 ahead of the US NFP and Caixin Manufacturing PMI

Drake Hampton

Apr 01, 2022 10:07

Tips

  • As investors anticipate the next set of US data, the AUD/USD is hanging around 0.7500.

  • The Caixin manufacturing PMI is expected to keep the Aussie bulls at bay.

  • Despite rising commodity prices, the Australian dollar has been a standout performer.

 

The AUD/USD pair has been trading in a band of 0.7456-0.7537 for the whole week as investors await the publication of US Nonfarm Payrolls and Caixin Manufacturing Purchase Managers Index (PMI) data.

 

The Caixin China Manufacturing PMI preliminary estimate is 49.7 points lower than the previous print of 50.4. Australia, being a big exporter to China, has a favorable association with the data provided above. Following Russia's invasion of Ukraine, the Australian dollar has maintained a top performer in the forex market. Rising commodity prices have supported the antipodean against major currencies. Even a cease-fire between Russia and Ukraine will increase the drive aussie, as Europe's goal of independence from Russian oil will alter its reliance on the commodity-exporting currency for energy.

 

The US dollar index (DXY) has risen above 98.40 on gloomy market mood, as global equities fade amid dwindling hope about Russia-Ukraine peace talks. After being a value bet for market players, the DXY has sensed a sheer response buying near 97.70. Despite a slightly lower Core Personal Consumption Expenditure (PCE) inflation rate of 5.4 percent vs the projection of 5.5 percent, Thursday's data set has given the dollar some support.

 

On Friday, the US docket will announce Nonfarm Payrolls (NFP), which is predicted to be 490k, significantly lower than the previous figure of 678k. This will have a substantial impact on the Federal Reserve's eventual interest rate decision (Fed).


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