EUR/USD 1.18067
0.164%
Gold 3351.76
1.478%
Oil 64.983
0.893%
USD/JPY 142.918
-0.784%
GBP/USD 1.37668
0.263%
GBP/JPY 196.757
-0.474%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On July 1, Vincent Starmer, an economist at Commerzbank, pointed out that although the eurozone inflation rate reached the ECBs 2% target in June, it may decline again in the coming months. The previous rebound in inflation was mainly driven by oil prices - the escalation of the Israeli-Iranian conflict caused oil prices to soar by more than 10% in the short term. Starmer said that as oil prices fall at the end of the month, the inflation rate may also decline simultaneously. But he also pointed out that given the uncertainty of US tariff policy, the ECB is expected to suspend action later this month. Starmer added that the ECB is likely to cut interest rates in the fall because tariff measures will curb European exports and put downward pressure on commodity prices.Ideal Auto (02015.HK): In the 26th week of 2025 (June 23-June 29), Ideal Auto’s weekly sales volume was 8,000 vehicles.On July 1, SERES announced that its sales of new energy vehicles in June 2025 were 46,086 units, a year-on-year increase of 4.44%; the cumulative sales from January to June were 172,100 units, a year-on-year decrease of 14.35%.On July 1, the new Bank of Japan member Masuichi Koichi made a clear statement at his inauguration press conference on Tuesday, supporting the gradual and cautious interest rate hike policy of Governor Kazuo Ueda. The member, who started his five-year term, said: "In terms of the current economic situation, the time is not yet ripe for accelerated interest rate hikes. I fully agree with the governors views and we must act prudently." These remarks show that Kazuo Uedas policy stance has won support on the nine-member committee as he waits for the impact of US tariffs on economic data. Masuichi Koichi replaced former member Toyoaki Nakamura, who voted against Uedas rate hike decisions three times.Market news: Iraq said that Irans natural gas imports have dropped by half in the past few hours.

A decrease in the AUD/USD rate toward 0.7100 is caused by weak Chinese data

Alina Haynes

Aug 15, 2022 14:53

 截屏2022-08-15 上午11.35.56.png

 

AUD/USD decreases near 0.7100, down 0.08% intraday to 0.7120 at press time, as Monday's Asian session's data dump from China proves to be poorer than expected and adds to the cautious market mood. Investors may be uneasy as a result of the minutes from the most recent monetary policy meeting of the Federal Reserve and the Reserve Bank of Australia (RBA) (Fed).

 

Retail sales in China plummeted to 2.7% from 5.0% expected and 3.1% previously, while industrial production (IP) fell to 3.8% from 3.9% previously and 4.0% expected by the market.

 

In an effort to deter bears, the People's Bank of China (PBOC) earlier in the day lowered the one-year medium-term lending facility (MLF) rates by 10 basis points (bps). The market's confidence was further increased by Japan's GDP growth numbers that were better than anticipated. However, the mood towards Sino-American relations is put into question by the growing number of US MPs visiting Taiwan concurrently with US House Speaker Nancy Pelosi's tour to Taiwan.

 

The market's concerns about inflation were eased by weaker readings of the Consumer Price Index (CPI) and the Producer Price Index (PPI) outside of the US. However, in order to manage inflation, Thomas Barkin, president of the Richmond Federal Reserve (Fed) Bank, declared on Friday that he plans to raise interest rates even more. "I'd love to see a period of persistent inflation control, and until that occurs, I believe we will have to boost rates into restrictive zone," Barkin reportedly said to CNBC, according to Reuters. The Fed hawks who continued to support higher interest rates included Presidents Mary Day of the Federal Reserve Bank of San Francisco, Neel Kashkari of the Federal Reserve Bank of Minneapolis, and Charles Evans of the Federal Reserve Bank of Chicago.

 

AUD/USD traders should concentrate on the August NY Empire State Manufacturing Index, which is predicted to be 8.5 versus the previous reading of 1.1, after observing the early market response to China's monthly data dump. The downside is elusive ahead of Tuesday's RBA Minutes, Wednesday's Australia Wage Price Index for the second quarter, and Thursday's Australian jobs report, despite the fact that lower US PMI data could put pressure on the AUD/USD bulls. Aside from the RBA Minutes, news about China and US ties will excite traders of the Aussie pair.

 

A sluggish RSI at the top suggests that AUD/USD bulls are losing steam as the 200-day simple moving average limits immediate AUD/USD gains around 0.7120. As of the time of publication, the price must continue above the last resistance level from late April, or 0.6990, for the bearish movements to materialize.

Suggestion