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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 Australian dollar shrinks gains against the US dollar, but the outlook remains negative

Oct 26, 2021 11:04

After meeting resistance above 0.7300 on Thursday (October 7), the Australian dollar against the US dollar reduced its gains in the European market, despite the rebound in market risk appetite.


The latest round of decline in the Australian dollar may be related to the overall slight rebound of the US dollar. The alleviation of the energy crisis, the progress of the US debt ceiling issue, and market optimism have all restricted attempts to hedge the dollar upwards.

On the other hand, the Australian dollar continued to look for support from the recent surge in natural gas prices, and US natural gas prices soared by 40% on Wednesday. Australia is a net exporter of natural gas and a major exporter of liquefied natural gas (LNG) in the world.

Later, the market will pay attention to the number of initial jobless claims in the United States to seek further hints from Friday's non-agricultural employment data, especially after the strong ADP employment data almost confirms that the Fed will begin to reduce the scale of debt purchases in November. Traders are also waiting for Friday's Reserve Bank of Australia (RBA) monetary policy statement.

AUD/USD technical outlook


Karen Jones, head of fixed income technical analysis at Commerzbank, said that as long as the exchange rate is below the 0.7370 area, the outlook for the Australian dollar against the US dollar is expected to remain negative.

Karen Jones said that the recent strength of the Australian dollar against the US dollar is seen as a corrective rebound. The market’s recent upward move is constrained by the 4-month downward trend line at 0.7370, and we will retain the negative bias. Initial resistance is located at the 50-day moving average of 0.7307.

We expect the Australian dollar to fall to the August low of 0.7106. The key support level remains at 0.7062/0.6991. This represents the lows of September and November 2020. A break below 0.6991 will trigger a further fall to the 0.6760 50% Fibonacci retracement level of the 2020-2021 volatility.

(Australian dollar against the dollar daily chart)

At 18:47 GMT+8, the Australian dollar was quoted at 0.7289 against the US dollar.

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