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Sources say Syria has agreed to significantly reduce its oil imports from Russia in order to cooperate with the United States in lifting its designation as a "state sponsor of terrorism."August 4th - Although rainfall across my country has generally weakened recently, heavy rainfall continues in parts of Shaanxi, Hubei, Yunnan, and South China. Scattered showers are expected in eastern Northwest China, western and northern North China, and northern Northeast China, with locally heavy downpours. Additionally, severe convective weather is active in parts of southern Heilongjiang, western Jilin, and northern and western Henan. Floods exceeding warning levels have occurred in the main stream of the Songhua River and some small and medium-sized rivers in Northeast and Southwest China. The flood control situation remains severe and complex. On August 4th, the State Flood Control and Drought Relief Headquarters Office and the Ministry of Emergency Management organized a rolling joint consultation with the China Meteorological Administration, the Ministry of Water Resources, the Ministry of Natural Resources, the Ministry of Industry and Information Technology, the Ministry of Housing and Urban-Rural Development, and the Ministry of Transport to assess the recent trend of heavy rainfall and deploy flood control work in key areas. The State Flood Control and Drought Relief Headquarters and the Ministry of Emergency Management maintain a Level IV emergency response for flood control in Shanxi, Heilongjiang, Yunnan, and Shaanxi.According to Reuters, a senior Iranian source said that the outbound shipping route through the Strait of Hormuz will follow the route between Iran and Oman.Country Garden (02007.HK): In July 2026, the company achieved contracted sales of approximately RMB 2.26 billion attributable to shareholders, with a contracted sales area of approximately 280,000 square meters attributable to shareholders.On August 4th, it was reported that in the first half of 2026, the State Administration for Market Regulation guided local market supervision departments to focus on optimizing random inspections and "comprehensive one-time inspections" to prevent multiple and duplicate inspections, achieving positive results. In the first half of 2026, market supervision departments conducted random inspections of approximately 540,000 enterprises, with joint inspections by various departments accounting for 27%. The "scan-to-enter" system was accelerated, and digital technology was strengthened, resulting in a reduction of over 240,000 on-site visits, a reduction of approximately 62%, significantly improving the efficiency and effectiveness of supervision, achieving minimal disruption, and further reducing the burden on enterprises. The deep integration of joint random inspections by various departments with credit risk classification management was promoted, resulting in a problem detection rate of 36%, significantly enhancing the accuracy and effectiveness of supervision. Inspection results were promptly publicized through the National Enterprise Credit Information Publicity System in accordance with the law. In the first half of 2026, approximately 200,000 enterprises were included in the list of enterprises with abnormal operations due to problems discovered during inspections, continuously strengthening the bottom line of market integrity and significantly enhancing the compliance awareness of business entities.

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

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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.


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