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September 14th news: From September 7th to September 13th, the national logistics operation data is as follows: National railways transported 82.651 million tons of freight, a 6.1% increase compared to the previous period; 58.467 million trucks passed through national expressways, a 2.98% increase compared to the previous period; monitored ports handled 270.168 million tons of cargo, a 0.27% decrease compared to the previous period, and 7.15 million TEUs of containers, a 2.57% increase compared to the previous period; civil aviation handled 122,000 flights (including 5,193 cargo flights, comprising 3,170 international cargo flights and 2,023 domestic cargo flights), a 1.33% decrease compared to the previous period; postal and express delivery collection volume was approximately 4.065 billion pieces, a 0.47% decrease compared to the previous period; delivery volume was approximately 4.068 billion pieces, a 0.51% decrease compared to the previous period.On September 14th, the International Electrotechnical Commission (IEC) released the international standard "Distributed Multi-Energy Systems Part 1: General Principles," led by my country. This standard, drafted by a working group convened by Chinese experts and jointly developed with experts from 10 countries including Switzerland, France, and South Korea, represents another significant achievement for my country in the internationalization of smart energy standards. This international standard systematically defines the connotation and typical architecture of distributed multi-energy systems for the first time, clarifies the standardization development path in the future field of multi-energy integration, and includes typical global engineering application cases, providing a unified reference for the construction of integrated energy projects worldwide.The onshore yuan closed at 6.7071 against the US dollar at 16:30 on September 14, up 25 points from the previous trading day.The Indonesian president has appointed Suhar Nazarra as the new finance minister.According to Metro TV, the Indonesian president will appoint Deputy Finance Minister Suahsir Nazara as the new Finance Minister.

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

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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.


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