EUR/USD 1.14052
-0.088%
Gold 4062.49
-1.116%
Oil 74.106
3.685%
USD/JPY 162.231
0.310%
GBP/USD 1.33887
-0.068%
GBP/JPY 217.211
0.242%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Sunac China (01918.HK) fell more than 6% in the afternoon, with its share price hitting a new all-time low.Energy: 1. Kuwait lowered its August crude oil price forecast for Asia. 2. South Africa plans to increase its strategic oil reserves to address supply risks. 3. Iraqi Prime Minister visits Washington on Monday, expected to sign an oil and gas agreement. 4. Tensions in the Middle East escalate again; European jet fuel inventories can only last less than a month. 5. EU imports from Russias flagship LNG project hit a record high in the first half of this year. 6. Eni CEO: If the Middle East conflict continues, the oil market may break out of its current range in early 2027. 7. Goldman Sachs: Recent attacks highlight the uncertainty of the Gulf regions export prospects, and a serious escalation could exacerbate the risk of short-term price increases. Future expansion of pipeline capacity around the Strait of Hormuz would pose a downside risk to the long-term price assumption of $76 per barrel. Iran Situation: 1. Iran launches large-scale attacks on US military targets in the region. 2. Iranian Revolutionary Guard announces closure of the Strait of Hormuz. 3. US Central Command: Completes another round of strikes against Iran, using unmanned surface vessels for the first time. 4. Data shows that after the resumption of hostilities between the US and Iran, ships secretly passed through the Strait of Hormuz with their transponders off. 5. EU High Representative for Foreign Affairs and Security Policy, Karas: No tolls or fees should be charged for passage through the Strait of Hormuz. 6. Iranian Revolutionary Guard: Strike at US military facilities in Bahrain and destroy radar systems in Oman. Other: 1. The US plans to significantly increase its imports of Mexican sugar to 1.15 million tons.July 13 - On July 10, Zhang Baofeng, Deputy Director of the General Administration of Customs, met with a delegation led by Sivit, Director General of the Namibian Revenue Service, at the Administration. The two sides exchanged views on implementing the important consensus reached by the two heads of state and deepening cooperation between China and Namibia in areas such as smart customs, AEO mutual recognition, customs cooperation, and capacity building.July 13 – Taiwan Semiconductor Manufacturing Company (TSM.N) reported a 36% increase in quarterly sales, meeting market expectations and indicating continued strong global demand for artificial intelligence hardware. Calculations show that TSMCs revenue reached NT$1.27 trillion (US$39.6 billion) in the three months ending in June, in line with analysts average expectations. This figure was driven by strong performance in June, with sales increasing by 68% year-on-year. In June, CEO C.C. Wei warned that even with more manufacturing capacity added in the US in the coming years, the company will still be unable to meet demand dominated by US customers for many years. This view is echoed by major chipmakers. SK Hynix currently expects the continued shortage of memory chips to extend beyond 2030. TSMC will release its full financial report on Thursday, along with an updated full-year outlook and capital expenditure plans.The Russian Federal Security Service (FSB) thwarted a series of large-scale drone attacks by the Ukrainian armed forces against military infrastructure, defense industry enterprises, and military personnel.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

EUR:USD.png

 

Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers. 

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.


Suggestion