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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.

USDJPY seeks to reclaim 146.00 amid rising interest rates and US midterm election concerns

Alina Haynes

Nov 09, 2022 18:56

截屏2022-11-09 下午4.17.02.png 

 

In Asia on Wednesday morning, the USDJPY rises considerably from a two-week low at 145.70-80. Consequently, the Yen pair reverses its three-day decline in response to the cautious market sentiment.

 

Despite this, optimism is dwindling as the most recent information from the US midterm elections indicates government gridlock. In conjunction with the Republican demand for an increase in the debt ceiling, this intensifies the fear of rising interest rates.

 

The deteriorating coronavirus situation in China contributes to both the current risk aversion and the USDJPY exchange rate. China reports the highest number of new COVID cases in six months on November 8, with 8,335 new cases reported, while Guangzhou's second district remains quarantined.

 

It should be noted that Japan recorded a significant Current Account surplus for the month of September, but failed to recognize the sharpest decline in the surprise for the first half of the current fiscal year (FY) since 2008. In recent days, speculations of intervention by the Bank of Japan (BOJ) and the recent softening of US data joined mixed Fed fears to boost US Treasury rates and USDJPY prices.

 

As a result of these factors, the yield on the 10-year US Treasury note regains upward momentum and surpasses 4.14 percent, while the yield on the 2-year note climbs somewhat and approaches 4.62 percent. It should be noted that despite Wall Street's three-day rally, US stock futures reported minor losses while Asia-Pacific markets closed in the red.

 

Ahead of Thursday's release of the US Consumer Price Index (CPI) for October, USDJPY traders may find political and covid updates entertaining. Purchasers of USDJPY near 145.50 are protected by the 50-day simple moving average, but the recovery requires confirmation from a three-week-old resistance line near 147.45.

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