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U.S. stocks pared gains, with some indices turning negative. The S&P 500 fell 0.03%, the Nasdaq fell 0.62%, and the Dow Jones Industrial Average was up 0.44%.June 25th - Following the 4.1% year-on-year increase in PCE in May, some economists predicted this could be the peak of price increases. However, RSM Chief Economist Joseph Brusuelas stated that the 0.3% increase in core inflation, compared to the 3.4% year-on-year increase, is likely to be sustained. Given the significant transmission pressure within the PPI index over the past few months, these prices, unlike the overall data, will not fall back so easily.On June 25, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, held talks with Austrian Foreign Minister Reisinger in Beijing. Wang Yi stated that the current international situation is fraught with chaos, and China congratulates Austria on its election as a non-permanent member of the UN Security Council. China is willing to strengthen communication and cooperation with Austria, support multilateralism and free trade, and promote the reform and improvement of the global governance system. The correct positioning of China-EU relations is partnership, not adversarial; Chinas development is an opportunity, not a challenge, for Europe. China appreciates Austrias rational and pragmatic policy towards China and hopes that Austria will continue to play a constructive role in the development of China-EU relations. Reisinger stated that Austria attaches great importance to developing relations with China and is willing to strengthen strategic dialogue with China, expand cooperation in various fields such as trade and investment, and green development. Austrian companies are willing to continue to deepen their presence in the Chinese market and participate in Chinas modernization. The two sides also exchanged in-depth views on the Ukraine crisis and the situation in the Middle East.Shares of U.S. memory chip manufacturers rose, with SanDisk (SNDK.O) up 16%, Western Digital (WDC.O) up 9.5%, and Seagate Technology (STX.O) up 9.7%.On June 25th, the Network Audiovisual Department of the State Administration of Radio and Television issued the "Management Guidelines (Classification and Tiering Standards for AI Micro-Dramas)". The guidelines state that the widespread application of artificial intelligence technology in the micro-drama field has improved work efficiency, expanded creative boundaries, and empowered industry development, while significantly reducing production costs. To further implement the State Administration of Radio and Televisions requirements for the classification and tiering management of micro-dramas and promote their healthy development, the following classification and tiering standards for AI micro-dramas are hereby proposed: AI micro-dramas with an investment of 800,000 yuan or more, or whose main plot involves special themes such as politics, military affairs, diplomacy, national security, united front work, ethnicity, religion, justice, and public security, will be managed as "Key Micro-Dramas". AI micro-dramas with an investment between 300,000 yuan (inclusive) and 800,000 yuan and of general themes will be managed as "Ordinary Micro-Dramas". AI micro-dramas with an investment of less than 300,000 yuan and of general themes will be managed as "Other Micro-Dramas". These standards will take effect on July 1, 2026.

While hawkish Fed bets strain DXY bears, EUR/USD falls toward 0.9800 as EU/German ZEW data is scrutinized

Daniel Rogers

Oct 18, 2022 14:17

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The EUR/USD is holding steady near the eight-day high during Tuesday's Asian session after recently falling to 0.9840 as investors look for more evidence to support the previous day's gain. Because of this, today's European and German ZEW numbers for October will be essential for giving the global economy a boost.

 

The recent immobility of the main currency pair may be linked to a conflict between the risk-on mentality and the aggressive Fed discourse. Another issue for EUR/USD traders is a light calendar in the US.

 

Pair purchasers will benefit from Germany's denial of recession fears and the ECB's officials' forceful rhetoric. The EUR/USD values are also fueled by the general US dollar depreciation brought on by waning concerns over the collapse of the UK market. Depressing US numbers also contribute to the upward trend. As a result, the New York Empire State Manufacturing Index for October decreased by -9.5 instead of the expected -4.0 and -1.5.

 

In contrast, hawkish Fed predictions and worries about market intervention in China and Japan seem to pose a challenge to EUR/USD buyers. Despite this, CME's FedWatch Tool forecasts a probability of about 95% for a 75 basis point Fed rate hike in November. The US Treasury Secretary Janet Yellen's upbeat comments, which suggested a strong US labor market, as well as the upbeat US inflation expectations suggested by the 10-year and 5-year breakeven inflation rates according to data from the St. Louis Federal Reserve (FRED), may have served as inspiration for the tool.

 

It should be noted that China's zero-covid policy, its decision to delay the release of important facts or events, and its determination to protect its potential to annex Taiwan and Hong Kong all offer challenges to the pair's rising trend.

 

S&P 500 Futures track Wall Street's advances in the midst of these transactions, but US 10-year Treasury yields decline to 3.99%, testing the US Dollar Index (DXY) bearish recently.

 

Germany's ZEW figures are anticipated to be weaker in October than the sentiment index for the Eurozone, which could alarm EUR/USD traders and present possibilities for intraday sells. However, the danger triggers for apparent directions will receive significant attention.


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