EUR/USD 1.16000
0.039%
Gold 4220.14
1.519%
Oil 59.392
0.687%
USD/JPY 156.145
-0.098%
GBP/USD 1.32418
0.018%
GBP/JPY 206.766
-0.068%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Market news: U.S. officials will meet with a Ukrainian delegation at 9 a.m. Sunday in South Florida.November 30th - OPEC+ is about to hold a meeting to assess the global oil market. Given the increasingly apparent signs of oversupply, the alliances oil-producing countries are still expected to pause supply increases in the first quarter of next year. Several representatives indicated that the Saudi- and Russian-led alliance is likely to adhere to the plan reached earlier this month to make a modest production increase in December, followed by stable production levels for the first three months of next year. While this pause demonstrates some caution from OPEC and its partners after their rapid resumption of oil production earlier this year, it still leaves the global market facing a significant oversupply in early 2026, potentially putting further pressure on oil prices.Ukrainian President Volodymyr Zelenskyy announced that he has appointed former Ukrainian Ambassador to the United States, Irina Markarova, as his advisor on reconstruction and investment.On November 30th, Canadian Solar announced that it plans to adjust its US market business by establishing two new joint ventures, M and N, with its controlling shareholder, Canadian Solar Inc. (CSIQ). CSI will hold 24.9% of the shares, and CSIQ will hold 75.1%. Company M will focus on the US photovoltaic business, while Company N will focus on the US energy storage business. Simultaneously, the company plans to restructure its US manufacturing plant, with CSIQ holding 75.1% and CSI holding 24.9%, to obtain a one-time equity transfer consideration and subsequent ongoing equity gains from the 24.9% stake in the US business. This transaction and the waiver of commitments have been approved by the board of directors and are subject to shareholder approval.On November 30th, Baili Tianheng announced that its wholly-owned subsidiary, SystImmune, recently received a $250 million milestone payment from BMS. According to the cooperation agreement, the company is also eligible for up to $250 million in near-term contingent payments, as well as additional payments of up to $7.1 billion upon achieving specific development, registration, and sales milestones.

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

截屏2022-10-18 上午9.52.16.png 

 

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.


Suggestion