EUR/USD 1.03176
-0.004%
Gold 2661.46
-0.003%
Oil 72.681
-0.158%
USD/JPY 157.954
-0.249%
GBP/USD 1.23542
-0.053%
GBP/JPY 195.142
-0.259%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On January 9, Xpeng Motors’ official Weibo account announced that in December 2024, 161 self-operated stations were put into operation in a single month, breaking the historical record for the speed of online operation; Xpeng’s self-operated stations reached 1,920, and the number of self-operated supercharging stations exceeded 1,500.Malaysias Economic Minister: Malaysia plans to produce GPU chips locally in the next 5 to 10 years.On January 9, CICC published a report, maintaining the target price of ANTA Sports (02020.HK) at HK$104.02 and the investment rating of "outperforming the market" unchanged. The bank pointed out that after more than 30 years of development, ANTA has become a local sports brand market from the main brand of ANTA. CICC believes that ANTAs leading position and growth in the international sports brand market are not inferior to international peers, but its current valuation is lower than that of international comparable companies, and there is still much room for improvement in the future. The bank basically maintains the 2024/25 earnings per share forecast of ANTA at RMB 4.16 (the same below) (after deducting non-GAAP)/4.80, and introduces the 2026 earnings per share forecast of RMB 5.35.On January 9, Goldman Sachs issued a report indicating that it slightly lowered the target price of Anta Sports (02020.HK) by 0.9% from HK$111 to HK$110, and maintained a "buy" investment rating. Goldman Sachs pointed out that in view of Antas sales trend in the fourth quarter of 2024 and the liquidity of mainland consumer sentiment, it lowered its profit forecast for Anta from 2024 to 2026 by 1-2%, mainly reflecting the decline in profits of Anta/Fila brands, which was partially offset by the better performance of small brands. It is believed that by 2025, Antas profitability will be supported by the "multi-brand" strategy and effective cost control. Antas fourth-quarter data showed that both Anta and Fila brands recorded high single-digit sales growth, with Anta accelerating quarterly and Fila slowing down. Due to lower expectations, Anta was generally in line with expectations, and Filas performance was a surprise.On January 9, Meng Yang, Deputy Director of the State Administration for Market Regulation, met with a delegation led by Chan Ka-yin, Chairman of the Competition Commission of the Hong Kong Special Administrative Region. The two sides exchanged in-depth views on antitrust law enforcement, fair competition review, competition advocacy and other issues. Meng Yang said that the State Administration for Market Regulation is willing to further strengthen pragmatic exchanges and cooperation with the Hong Kong Competition Commission in the field of antitrust and anti-unfair competition, jointly maintain a fair competition market order, and help build the Guangdong-Hong Kong-Macao Greater Bay Area. Chan Ka-yin expressed the hope to deepen antitrust and fair competition governance cooperation with the State Administration for Market Regulation, play a more active role in the construction of the Greater Bay Area, and promote Hong Kong to better and faster integrate into the overall national development.

AUD/USD crosses 0.6900 amid market concern ahead of an RBA rate hike

Alina Haynes

Jul 05, 2022 11:56

 截屏2022-07-05 上午9.56.29.png

 

The AUD/USD currency pair continues its recovery from the week's start, trading at approximately 0.6875 on Tuesday during the Asian session. Market caution and a weakened US dollar may be to blame for the quotation's improved performance. However, bulls appear cautious previous to the Reserve Bank of Australia's (RBA) Interest Rate Decision.

 

The US Dollar Index (DXY) is struggling to hold onto its two-day gain to 105.00 as buyers retreat from a two-week peak. In reaction to rising Treasury rates, it appears that bulls in the dollar have risen in price. Notable is the fact that benchmark 10-year Treasury bond rates retain the earlier U-turn from a one-month low at roughly 2.92 percent, up three basis points (bps) from Friday's closing.

 

The holiday in the US did not give much relief for bond bears, but higher printing of German Bunds and chatter about the US debate on eliminating Trump-era tariffs on China looked to underpin US Treasury prices. The 10-year German Bund yield rose to 1.32 percent, up at least 10 basis points from its previous level.

 

The AiG Performance of Construction Index for June in Australia fell to 46.2, below the previous level of 50.4, while the S&P global Composite PMI and Services PMI confirmed the initial June prediction of 52.6%.

 

Between now and RBA day, investors will be put to the test by concerns about the economy and China's credit situation, as well as Russian claims to full power in Lysychansk.

 

The US Factory Orders for May, expected at 0.5 percent versus 0.3 percent, might be of interest to AUD/USD traders in the future, but traders should pay close attention to risk triggers and pre-NFP sentiments, as well as the markets' reaction to the recently increased bond rates.

 

Noting that the RBA's 0.50 percent rate hike is already a certainty and looks to have been priced in, Tuesday's RBA Rate Statement will likely give extra momentum. The AUD/USD may be able to extend its recent surge for the time being if the policy announcement signals further rate hikes.


Suggestion