EUR/USD 1.03741
-0.225%
Gold 2854.65
-0.782%
Oil 69.851
-0.116%
USD/JPY 150.504
0.467%
GBP/USD 1.25801
-0.156%
GBP/JPY 189.327
0.312%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to the Philippine Institute of Volcanology and Seismology, a 5.3-magnitude earthquake occurred in the eastern waters of Davao Oriental Province in the southern Philippines at around 21:59 on March 1, with a focal depth of 10 kilometers. The earthquake was felt in many nearby areas. The earthquake is not expected to cause damage, but there will be aftershocks.On March 1, the official website of Ant Group was updated to show that Han Xinyi, the former president of Ant Group, officially took over as CEO of Ant Group.On March 1, data from FlightAware, a flight tracking website, showed that a Ukrainian government plane had taken off from a military base near Washington and flew to the UK. According to Ukrainian media reports, the plane was used by Ukrainian President Zelensky. It is reported that British Prime Minister Starmer proposed to hold a meeting in London on March 2 to discuss how to deal with the "breakdown" of the meeting between Trump and Zelensky on the 28th. More than a dozen European countries and EU leaders, as well as Zelensky, will attend the meeting.The National Highway Traffic Safety Administration (NHTSA) said Volkswagen of America is recalling 60,490 vehicles.March 1, local time on February 28, French President Emmanuel Macron said during his visit to Portugal that there was little hope of making progress on the tariff issue after meeting with US President Trump. Macron also said that if the United States decides to impose a 25% tariff on Europe, Europe will respond "equally". Macron said that although the imposition of reciprocal tariffs will lead to inflation and no country will benefit from it, the EU must protect itself.

AUD/USD falls to 0.68 on dismal Aussie/China statistics and risk aversion

Alina Haynes

Sep 01, 2022 15:16

截屏2022-09-01 上午10.37.55.png


As bears cheer on weak Australian statistics and a risk-off mindset on Thursday, the AUD/USD drops to a new 1.5-month low near 0.6800. Yet, adverse concerns about China, its major customer, may also be to blame for the current weakness of the Aussie pair.

 

Caixin Manufacturing PMI in China fell to 49.5 from 50.2 predicted and 50.4 earlier, signaling the steepest decline in activity in three months.

 

In other news, Home Loans in Australia dropped by -7.0% in July, worse than the -3.0% drop forecast and the 3.3% drop seen in June. For the same time period, Investment Lending for Homes fell by -11.2%, compared to a drop of 6.3% in the previous month. It should be noted that contrary to projections of a 1.5% expansion, private capital expenditure in Australia shrank by 0.3% in the second quarter (Q2).

 

The risk premium on 10-year US Treasuries has risen to a two-month high of about 3.21 percent, and the risk premium on 2-year bond coupons has risen to its highest level since at least 2007. The S&P 500 Futures were trading at 3,930, down 0.36 percent intraday, their lowest level since late July as of publishing.

 

Recent market sentiment has been pushed down by worries about another ship blocking the Suez Canal, skepticism about China's covid circumstances, poor data, and conflicts with the United States over Taiwan. The president of Taiwan, Tsai Ing-Wen, has recently expressed an interest in bolstering ties with the United States in the semiconductor industry.

 

In light of the Fed's recent aggressive posture, despite conflicting data, AUD/USD bears are likely to hold control as China-related news is also unfavorable. Before Friday's release of the US Nonfarm Payrolls report, traders may find some diversion in today's release of the US ISM Manufacturing PMI for August, which is expected to be 52.8 from 52.0 before (NFP).

 

If the AUD/USD drops below May's low at 0.6830, the next major support is seen in early July near 0.6760. Alternately, a support-turned-resistance line from early August, near 0.6850, will join the 0.6830 barrier to probe the pair's corrective slide.

Suggestion