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On August 22, Chris Turner of ING Bank stated in a report that the latest Federal Reserve custody data shows that foreign central banks are continuing to reduce their holdings of U.S. Treasuries and are likely reducing their dollar exposure in foreign exchange reserves. He noted that the impact on the U.S. Treasury market may be limited, as the U.S. private sector is absorbing the foreign official sales, but the impact on the dollar "is likely to remain negative." Data showed that as of Wednesday, the amount of U.S. Treasuries held by the Federal Reserve on behalf of foreign officials and international accounts was $2.83 trillion, down from $2.86 trillion the previous week and approximately $100 billion less than in early April.Hang Seng Indexes Company released the results of its quarterly review: there was no change in the constituent stocks of the Hang Seng Technology Index, and the number of constituent stocks remained at 30.On August 22, it was learned from the Beijing Stock Exchange that from August 18 to August 22, 2025, the Beijing Stock Exchange will continue to list "*ST Guangdao" and "*ST Yunchuang", two delisting risk warning stocks, as key monitored stocks to strengthen trading risk reminders; it will take self-regulatory measures such as issuing warning letters and suspending securities account transactions for 6 cases of abnormal securities trading behaviors, involving abnormal trading situations such as price manipulation, false reporting, etc.; and conduct special inspections on 3 major matters of listed companies.On August 22, Wall Streets attention was focused on Federal Reserve Chairman Powells speech on Friday. Following a string of strong inflation data, Powell may remain cautiously silent. StoneX senior advisor Jon Hilsenrath said, "Powell is in a very tricky position. He may admit that a September rate cut looks likely, but he wont give a timetable for a series of rate cuts because the Feds mission to control inflation is not yet complete." Powells speech comes at a time when the Fed does not yet have all the data needed to determine the direction of interest rates, and its decision will rely heavily on August employment data and CPI readings to be released next month. Andrew Tyler, head of global market intelligence at JPMorgan, wrote in a report on Wednesday, "Jackson Hole may be insignificant." Rose Advisors portfolio manager Patrick Fruzzetti also said, "Powell has struck this balance before. I dont think he will signal an aggressive rate cut, nor will he be more hawkish than he is now. Powell may indicate that policymakers are still prioritizing inflation over job growth."On August 22, Siquan New Materials announced that the cumulative deviation of the closing price of its stock exceeded 200% for 30 consecutive trading days, indicating possible overheated market sentiment and the risk of a decline in the stock price after a sharp rise. The companys recent operations, internal and external operating environment, and fundamentals have not undergone significant changes. The companys main products are thermal management products, which are used in consumer electronics and new energy sectors. The company has no material matters that should be disclosed but have not been disclosed. The controlling shareholder and actual controller did not buy or sell the companys shares during the period of severe and abnormal stock trading fluctuations.

The Dollar Falls And Oil Prices Rise When The Fed Raises Interest Rates

Skylar Williams

Feb 02, 2023 11:57

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The dollar fell as the U.S. Federal Reserve boosted interest rates by 25 basis points, pushing oil prices up in early Asian trade on Thursday.


Brent crude futures increased by 56 cents, or 0.7%, to $83.40 per barrel, while West Texas Intermediate (WTI) crude futures increased by 65 cents, or 0.8%, to $77.05 per barrel.


Wednesday, the Federal Reserve increased its target interest rate by a quarter of a percentage point and reaffirmed its commitment to "continuous rises" in borrowing rates as part of its ongoing fight against inflation.


The U.S. central bank acknowledged explicitly the progress done in reducing the rate of price increases from the 40-year highs reached last year.


A weakening dollar makes oil priced in U.S. dollars less expensive for holders of foreign currencies, hence increasing demand.


The U.S. dollar ended the session at 101.15, down 0.3% against a basket of currencies.


In light of the European Union's February 5 ban on Russian refined products, prices are also rising.


Diplomats said EU governments will seek a consensus on a European Commission proposal to establish price ceilings on Russian oil products on Friday, after postponing a decision on Wednesday due to disagreements among member states.


Last week, the European Commission suggested that, beginning February 5, the European Union impose a price restriction of $100 per barrel on premium Russian oil products such as diesel and a price cap of $45 per barrel on discounted items such as fuel oil.