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Real-time News
On April 4, the Yangtze River Delta Railway ushered in the peak of passenger flow during the Qingming Festival. It is expected to send 4.1 million passengers today, 365,000 more than the same period last year, an increase of about 9.8%, and is expected to set a new record for single-day passenger volume. This years Qingming Festival railway transportation will start from April 3 to 7. The Yangtze River Delta Railway is expected to send 17.6 million passengers in 5 days, with an average daily passenger flow of 3.52 million, a year-on-year increase of 6.8%.The yield on the two-year U.S. Treasury note fell to a six-month low of 3.6550% and was last at 3.6611%.On April 4, local time on April 3, U.S. Secretary of Health and Human Services Robert Kennedy Jr. said that about 20% of the layoffs in the Department of Government Efficiency were wrong and needed to be corrected. The U.S. Department of Health and Human Services laid off about 10,000 people on the 1st. Kennedy said that people who should not have been laid off were laid off, and the department is restoring their positions. Kennedy said that canceling the entire lead poisoning prevention and monitoring department of the Centers for Disease Control and Prevention was one of the mistakes. At present, it is unclear what other projects Kennedy may plan to restore.Bank of Japan Governor Kazuo Ueda: Will consider the impact of food costs on consumers.On April 4, local time on the 3rd, the automobile company Stellantis said that due to the impact of the US import automobile tariff policy, the company decided to lay off 900 employees in its five US factories and suspend production operations at two assembly plants in Canada and Mexico. Antonio Filosa, Chief Operating Officer of Stellantis Americas, said that the US factories that were laid off were powertrain and stamping parts factories, which produced spare parts for two assembly plants in Canada and Mexico. According to the plan, the assembly plant in Canada will stop production for two weeks, and the assembly plant in Toluca, Mexico will suspend production throughout April. Filosa said the company is "continuing to evaluate the medium- and long-term impact of tariffs on operations."

US Dollar Index Dodges Around 100.60, Eyes More Upside on Hawkish Powell

Larissa Barlow

Apr 22, 2022 09:48

The US dollar index (DXY) is demonstrating casual fluctuations in a modest range of 100.55-100.66 after a robust comeback on Thursday. Since the likelihood of a major rate hike by the Federal Reserve increased, the DXY has exhibited a clear reversal after falling below the psychological support level of 100.00. (Fed). After declaring that investors should brace for a half-percent rate hike in May's monetary policy, Fed chair Jerome Powell's speech boosted the likelihood of a 50 bps interest rate hike.

Fed’s Powell Speech at IMF

The arrival of Fed’s Powell at the International Monetary Fund (IMF) produced a significant reversal in the DXY as Powell repeated that the tight labor market and increasing inflation are driving the Fed to move faster to the neutral rates than to the pace adopted in past raise cycles. Current pricing pressures are damaging the economy, making it difficult for the Federal Reserve System (Fed) to reduce the CPI (Consumer Price Index) down to the targeted 2 percent level.

Key Events Next Week

Durable Goods Orders, Consumer Confidence, Housing Price index, Gross Domestic Product (GDP) statistics, Personal Consumption Expenditure Prices, Michigan Consumer Sentiment Index (CSI) (CSI).

Eminent Issues on the Back Boiler

ECB President Christine Lagarde and BOE Governor Andrew Bailey are all scheduled to speak at upcoming events, including the Russia-Ukraine peace talks and the IMF summit.

Dollar Index Spot

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