EUR/USD 1.15920
0.003%
Gold 4017.49
-0.695%
Oil 59.506
-0.245%
USD/JPY 155.172
-0.058%
GBP/USD 1.31501
-0.024%
GBP/JPY 204.059
-0.071%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On November 18th, according to Tianyancha App, Xiaomi Automotive Technology Co., Ltd. recently published a patent application for "Lightweight Design Method, Device, Electronic Equipment and Program Product for Vehicle Structures". The abstract shows that this disclosure relates to the field of vehicle technology, including establishing a macroscopic mechanical characterization by obtaining the finite element model of the components in the vehicle, combining the crystal structure of the beam unit of the component to reflect the microscopic crystal arrangement characteristics of the component, constructing a component topology model, and performing topological analysis on the topology model to obtain the topology analysis results. By combining the microscopic crystal arrangement characteristics and macroscopic mechanical characterization, lightweight design can be performed on the topology analysis results from the microscopic lattice arrangement to the macroscopic structural morphology, thus realizing lightweight design of vehicle structures.Japans Topix index fell 2%.The yield on 30-year Japanese government bonds rose 5.5 basis points to 3.310%.On November 18th, a Citi research report indicated that Leapmotor (09863.HK) reported a net profit of RMB 150 million in the third quarter, in line with expectations. This was mainly due to approximately RMB 250 million in carbon credit revenue, a significant improvement compared to the net loss of RMB 690 million in the same period last year, and similar to the net profit level of the second quarter. Furthermore, the R&D expense ratio decreased by 1.5 percentage points quarter-on-quarter to 6.2%, and the administrative expense ratio also decreased by 0.4 percentage points quarter-on-quarter to 8.1%, keeping the net profit margin stable at 0.8% in the third quarter. Free cash flow reached RMB 3.84 billion during the period, a significant increase compared to RMB 1.2 billion in the previous quarter and RMB 1.3 billion in the same period last year. The company maintained its sales target of 1 million vehicles by 2026. The bank maintained its "Buy" rating with a target price of HKD 100.Hong Kong-listed apparel stocks surged, with Fast Retailing (06288.HK) rising over 5.8%, Luen Thai Holdings (00311.HK) rising over 11%, and Shanshan Brands (01749.HK) and others following suit.

AUD/USD bulls retain dominance over 0.68 prior of RBA's Lowe and US NFP data

Daniel Rogers

Dec 02, 2022 15:42

 截屏2022-12-02 上午10.38.24.png

 

The AUD/USD pair oscillates near 0.6800 in the early Asian session on Friday, a day after reclaiming the 11-week high. Despite this, the AUD/USD pair has climbed for three consecutive days as a result of widespread US Dollar weakness and market optimism on China's Covid situation. Weak US statistics could contribute to the rally's vigor.

 

At the time of publication, the US Dollar Index (DXY) was under pressure near 104.70, its lowest level in four months, as the dovish stance of Federal Reserve (Fed) members and the pessimistic comments of US Treasury Secretary Janet Yellen increased expectations of easy rate hikes.

 

Michelle Bowman, governor of the Federal Reserve (Fed), recently stated that we should control the rate of price increases. Prior to him, Fed Governor Jerome Powell and US Treasury Secretary Yellen both alluded to a halt in rate hikes and advocated for a soft landing. Michael Barr, vice chairman of supervision, adding, "At the next meeting, we may reduce the rate of rate increases." Notably, recent remarks by John Williams of the New York Fed appeared to test US Dollar bears as policymakers underlined that the Federal Reserve still has a ways to go with rate hikes.

 

The predominance of bad US statistics, in addition to Fed-speak, weighed heavily on the US Dollar. However, the US Core Personal Consumption Expenses (PCE) Price Index, the Federal Reserve's preferred inflation gauge, matched market forecasts of 5.0% on a year-over-year basis, but dropped to 0.2% on a month-over-month basis, compared to 0.3% that was anticipated. In addition, the US ISM Manufacturing PMI for November dropped to 49.0 from the expected 49.7 and the previous 50.2.

 

In addition, the three consecutive days of a decline in the number of daily Covid infections in China from the record high allowed regulators to hint at the "next step" in combating the virus while announcing a number of easings of activity-control measures. Given the close ties between Australia and China, AUD/USD buyers typically celebrate positive developments in Beijing.

 

Domestic Private Capital Expenditures in Australia for the third quarter (Q3) declined to -0.6%, compared to the predicted 1.5% and the prior -0.3%. Moreover, poor November readings for Australia's AiG Performance of Mfg Index and S&P Global Manufacturing PMI appeared to have weighed on AUD/USD bulls at the multi-day high.

 

Prior to the speech of Reserve Bank of Australia (RBA) Governor Philip Lowe, it appears that the mixed performance of Wall Street and the multi-month low US Treasury yields weighed on AUD/USD bulls. During his address earlier in the week, the policymaker alluded to a reduction in interest rates; hence, the bull's concerns are justified. In addition, the cautious outlook ahead of the crucial US employment report for November, for which preliminary indications have been negative and which may favor Australian buyers if actual results match forecasts, could weigh on prices.

Suggestion