EUR/USD 1.15424
0.089%
Gold 4331.85
0.049%
Oil 88.037
-1.892%
USD/JPY 160.183
0.008%
GBP/USD 1.33767
0.285%
GBP/JPY 214.277
0.298%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 9th - The State Council Information Office will hold a press conference on June 11th, 2026 (Thursday) at 3:00 PM, titled "Striving Individuals on the New Journey," where representatives from the customs system will meet and exchange views with Chinese and foreign journalists on the theme of "Safeguarding the Country and Benefiting the People."June 9th - On June 8th, the Hong Kong Monetary Authority (HKMA) held a media briefing in Beijing. HKMA Chief Executive Eddie Yue stated at the briefing that the HKMA continues to discuss further optimization and expansion of the Cross-Border Wealth Management Connect program with mainland financial regulators, with room for expansion in areas such as quotas, product categories, and participating investor categories. Currently, the specific launch timetable for Cross-Border Wealth Management Connect 3.0 has not yet been determined.On the afternoon of June 9 local time, Xi Jinping, General Secretary of the CPC Central Committee and President of China, concluded his state visit to North Korea and departed Pyongyang. Kim Jong Un, General Secretary of the Workers Party of Korea and Chairman of the State Affairs Commission, and his wife Ri Sol Ju saw him off at the airport, holding a grand farewell ceremony for Xi Jinping and his wife Peng Liyuan.Malaysias Second Finance Minister: RON95 quotas may only be revised if crude oil prices rise significantly.On June 9, 2026, Vice Minister of Finance Liao Min and Brazilian Vice Minister of Finance Alen Castro co-chaired the 12th meeting of the Finance Subcommittee of the China-Brazil High-Level Coordination and Cooperation Committee in Beijing. Liao Min stated that under the strategic guidance of President Xi Jinping and President Lula, China-Brazil relations have achieved a milestone leap from a comprehensive strategic partnership to a community with a shared future. The alignment between Chinas Belt and Road Initiative and Brazils development strategy has deepened and become more practical, with pragmatic cooperation in various fields continuously improving in quality and upgrading. Currently, the world is entering a new period of turbulence and change, and developing countries face particularly severe challenges. China is willing to work with Brazil to strengthen communication and coordination on macroeconomic policies, deepen bilateral pragmatic financial cooperation, and strengthen coordination and cooperation within multilateral mechanisms, injecting more certainty into a turbulent world through its own stable economic development.

Investor attention is on the Fed's minutes as recession fears drive the US Dollar Index towards 107.00

Daniel Rogers

Aug 16, 2022 11:47

截屏2022-08-16 上午9.53.03.png

 

The US Dollar Index (DXY) rises for a third day in a row during Tuesday's Asian session, gaining bids to 106.58. Thus, the greenback's signal captures the market's rush for risk-free assets in response to worries about the US and China's economies as well as worries about geopolitics in the Middle East, China, and Russia. It is noteworthy that aggressive Fed remarks and weaker US data enhance market trepidation and help DXY bulls.

 

Despite this, the DXY bulls closely monitor the gloomy statistics coming out of China and the US, particularly in light of the recession fears.

 

In August, the US NY Empire State Manufacturing Index fell from 11.1 in July to 31.3, below market estimates of 8.5. The August NAHB homebuilder confidence index in the US fell from 55 to 49, the lowest level since the start of 2020.

 

In other news, China's retail sales slowed in July to 2.7% YoY from 3.1% earlier and 5.0% forecast, while industrial production (IP) fell to 3.8% from 3.8% previously and 4.0% market estimates. Additionally, in an effort to counter bearishness, the People's Bank of China (PBOC) shocked the markets on Monday by reducing the rates on its medium-term lending facility (MLF) by 10 basis points (bps).

 

It should be emphasized that news stories about deteriorating coronavirus conditions in Shanghai, China's financial center, and the restart of Russian bond trading on Wall Street did not spur investors' desire to take risks. The Wall Street Journal's (WSJ) rumors of a potential meeting between US Vice President Joe Biden and his Chinese counterpart Xi Jinping may also encourage investors to take more risks. In a similar vein, Chinese President Xi proposed new efforts to revive the second-largest economy in the world.

 

The Pentagon said on Monday that the US, South Korea, and Japan took part in a missile warning and ballistic missile search and tracking exercise last week off the coast of Hawaii. Between August 22 and September 1, the US and South Korea will collaborate on military drills. The DXY rises as a result of the additional stress that geopolitical worries place on market sentiment.

 

The three-day downtrend in US 10-year Treasury yields is around 2.775%, while S&P 500 Futures are down at least 0.13 percent day-to-day.

 

Moving on, the secondary US housing and activity data released today should be of interest to DXY traders ahead of the release of the FOMC Minutes on Wednesday. The dollar's gauge might remain on the bear's radar if US data keep getting worse.

 

The three-week-old resistance line, which is now support at 106.35, would need to be broken for an extended period of time for DXY bulls to hit the monthly high above 107.00. However, in order to approach July's yearly high close to 109, the bulls need confirmation from late July's peak at 107.45.


Suggestion