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On January 19th, Aoyuan Meigu announced that 45,373,219 shares of the companys stock held by Jinghan Holdings, a shareholder holding more than 5% of the companys shares, were originally scheduled for auction on August 30, 2025, but were postponed. The auction was then scheduled to continue on January 17-18, 2026, but on January 19th, it was learned that the shares failed to sell. The subsequent legal proceedings for these shares are uncertain, but the failed auction will not affect the companys operations. On December 26, 2025, the companys capital reserve was converted into share capital, passively diluting Jinghan Holdings shareholding ratio to 3.38%, meaning it will no longer be a shareholder holding more than 5%. Therefore, the auction of these shares will not lead to a change of control of the company.On January 19th, Yili Group announced that its 2025 resolutions were approved by the shareholders meeting, increasing the issuance scale of various debt financing instruments by RMB 5 billion, with a balance not exceeding RMB 45 billion. The company has obtained registration for debt financing instruments from the National Association of Financial Market Institutional Investors (NAFMII). Recently, the company successfully issued its fourth tranche of 2026 Science and Technology Innovation Bonds, abbreviated as "26 Yili Industrial SCP004 (Science and Technology Innovation Bond)," code "012680154," with a term of 68 days, an interest accrual date of January 16, 2026, and a maturity date of March 25, 2026. The planned and actual issuance amount was RMB 10 billion, with an issuance interest rate of 1.49% and an issuance price of RMB 100 per RMB 100 face value.The president of the Federation of German Industries said it is reasonable to consider imposing counter-tariffs or using defensive tools to deal with economic coercion.President of the Federation of German Industries: It is crucial for the EU to keep dialogue channels open and to promote de-escalation of the situation.British Prime Minister Starmer: Britain and the United States are close allies and are determined to maintain a strong relationship with the United States.

The US Dollar Index is trying to regain 109 ahead of US Durable Goods Orders data from Jackson Hole

Alina Haynes

Aug 24, 2022 15:26

截屏2022-08-24 上午10.16.07.png 

 

As traders wait for the day's significant triggers amid a sluggish opening, the US Dollar Index (DXY) continues its rise toward the multi-year high established in July, adding bids to 108.60 in the Asian session on Wednesday.

 

The dollar index dropped from a multi-year high of 109.27 against the six major currencies the day before yesterday. While the present downturn in US data is driving the quote to retreat, the DXY bulls are supported by concerns of an economic slowdown and the US Federal Reserve's (Fed) quick rate hikes.

 

The president of the Minneapolis Fed, Neel Kashkari, was quoted by Reuters as saying that misreading the underlying inflation dynamics is the biggest worry. If the Fed sees inflation creeping closer to their target of 2%, they may slow their rate of rate hikes, according to the official.

 

However, traders in fed funds futures are pricing in a 52.5% chance of a rate hike of 75 basis points (bps) at the upcoming Fed meeting. On Monday, Reuters reported that a rate hike of 50 basis points in September was somewhat more likely than 50 percent.

 

Preliminary readings released on Tuesday by the US S&P Global Manufacturing PMI for August showed a decline to 51.3 from 52.0 expected and 52.2 earlier, while the Services index plunged to 44.1 from 47.3 compared to 49.2 market expectations. As reported by S&P Global, the Composite PMI has fallen to 45, the lowest level in 27 months, signaling a potential crisis for the US economy.

 

In addition, the number of newly constructed homes sold in the United States dropped to 0.511 million in July, down from 0.585 million the previous month and 0.575 million the market had predicted. The US Richmond Fed Manufacturing Index dropped to -8.0 in August from a reading of 0.0 the month before.

 

At press time, US 10-year Treasury rates were lingering at 3.05%, the highest level in a month, despite small advances for the day on Wall Street. S&P 500 Futures have been declining somewhat as of press time, which is notable.

 

DXY volatility may be constrained in the future by the light schedule preceding the North American session. Next, keep an eye on the US Durable Goods Orders for July, which are predicted to rise 0.6% after rising 2.0% in June. As markets try to predict the Fed's next move, Friday's speech by Fed Chairman Jerome Powell at the Jackson Hole conference hosted by the Kansas City Fed will be crucial.

 

DXY bears are threatened by a rising support line that has been in place for two weeks near 108.00, but the buyers won't be convinced until the uptrend is confirmed above 109.30.


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