EUR/USD 1.16756
0.118%
Gold 4729.92
0.227%
Oil 92.187
1.037%
USD/JPY 158.987
0.264%
GBP/USD 1.34073
0.096%
GBP/JPY 213.165
0.374%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 9th, the Ministry of Industry and Information Technology held a symposium on science and technology-based SMEs in Haikou City, Hainan Province. The meeting emphasized the need to improve the policy support system for enterprises, addressing the challenges faced by science and technology-based SMEs such as weak demand, talent shortages, financing difficulties, and slow commercialization. It stressed the importance of proactively aligning with effective innovation measures, boldly exploring solutions tailored to local conditions, guiding the efficient flow of innovation elements to enterprises, and promoting the introduction of more support policies covering talent, finance, industry, and technology. The meeting also emphasized the need to create a favorable innovation and entrepreneurship ecosystem, vigorously promote the spirit of scientists and entrepreneurs, foster an atmosphere that encourages exploration and tolerates failure, support science and technology-based SMEs in carrying out technological innovation around major national needs and cutting-edge technologies, identify and publicize exemplary entrepreneurs who have excelled in technological innovation and industrial upgrading, and encourage more young talents to join the innovation and entrepreneurship wave.The head of Irans forensic organization stated that more than 3,000 people have died nationwide during the war.On April 9th, the State Council issued the "Overall Plan for the China (Inner Mongolia) Pilot Free Trade Zone" (hereinafter referred to as the "Overall Plan"). The Overall Plan proposes granting the Inner Mongolia Pilot Free Trade Zone greater autonomy in reform, encouraging pilot projects, and promoting original, integrated, and differentiated explorations in a wider range and at a deeper level. It outlines 19 reform and innovation measures, including innovating border trade, strengthening international logistics services, improving the efficiency of scientific and technological achievements transformation and application, and expanding multi-field international exchanges. The plan aims to build a high-level free trade zone that connects domestic and international markets, serves as an information exchange center, transportation and logistics center, resource allocation center, key technology innovation center, and industrial cooperation center, fully leveraging its role as a crucial bridgehead for the countrys opening up to the north, and striving to achieve convenient investment and trade, a sound innovation ecosystem, a cluster of advantageous industries, and active international exchanges.EU High Representative for Foreign Affairs and Security Policy Karas: Israels right to self-defense cannot be a justification for such large-scale destruction.Mercedes-Benz: First-quarter vehicle sales fell 6% year-on-year to 499,700 units; sales of all-electric vehicles rose 11% year-on-year to 50,400 units.

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.


Suggestion