EUR/USD 1.17683
-0.051%
Gold 4340.07
-4.220%
Oil 57.849
1.802%
USD/JPY 155.983
-0.323%
GBP/USD 1.35081
0.039%
GBP/JPY 210.708
-0.283%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On December 30, Cambodian Ministry of National Defense spokesperson Maria Sokheda denied a Thai statement on the evening of December 29 that "more than 250 drones were detected taking off from Cambodia, violating Thai sovereign territory." In a press release, Sokheda stated that the Cambodian Ministry of National Defense completely denies this claim. "Furthermore, the Ministry of National Defense and provincial governments, especially those in border areas, have issued strict instructions prohibiting the takeoff of all types of drones. We confirm that no such drone takeoff incidents have occurred."December 30th - Amidst the Federal Reserves effective interest rate cuts mitigating the risk of economic recession, a key indicator measuring volatility in the US bond market is heading for its largest annual decline since the global financial crisis. As of last Friday, the ICE BofA MOVE index (reflecting expected volatility in the bond market) had fallen to approximately 59, its lowest point since October 2024. This index, which has been steadily declining from around 99 at the end of 2024, is projected to record one of the most significant annual drops since data became available in 1988, second only to the crash of 2009.Hang Seng Index futures closed down 0.13% at 25,634 points in overnight trading, trading at a discount of 1 point.US President Trump: Israeli Prime Minister Netanyahu can be difficult to deal with at times. He hopes Netanyahu will maintain friendly relations with Syria.US President Trump: Russian President Putin told me that his residence was attacked by Ukraine. I do not condone such actions.

As China PMIs decrease, the Fed moves, and US NFP is predicted, USD/CNH surpasses 7.2800

Alina Haynes

Oct 31, 2022 16:37

截屏2022-10-31 上午11.11.46.png 

 

As China's monthly activity data disappoints offshore Chinese yuan (CNH) investors, the USD/CNH continues to draw buyers for a third consecutive day on Monday, advancing 0.23 percent intraday to 7.2850 as of press time. Concerns regarding covid difficulties in the dragon kingdom and apprehensions regarding a hawkish move by the Federal Reserve also encourage buyers to remain positive.

 

As a result, China's official NBS Manufacturing PMI for October dropped to 49.2, compared to the expected 50.0 and the previous 50.1. In addition, the Non-Manufacturing PMI fell to 48.7, below market estimates of 51.9 and previous readings of 50.6. Following the publication of the data, Reuters produced an article "In October, China's factory activity unexpectedly dropped, according to a survey released by the government on Monday. Global demand decline and strict COVID-19 regulations impeded manufacturing."

 

Due to the US dollar's status as a safe haven, the shutdown of a casino resort in Macau and Russian concerns also add to the USD/appreciation. Russia, which invaded Ukraine on February 24, halted its participation in the Black Sea agreement for a "indefinite period" on Saturday because it could not "guarantee the protection of civilian ships" traveling under the treaty after its Black Sea naval was attacked.

 

The fact that US Treasury yields are directionless after a bad economic report is notable, as is the fact that US stocks futures are seeing modest losses as the Dow Jones prepares for its highest monthly gain since 1976. In addition, the US Dollar Index (DXY) demonstrates a three-day increase near 110.80, with an intraday increase of 0.1% as of press time.

 

In conclusion, the USD/CNH bulls may maintain control because China's fundamentals are weaker than those of the United States. Concerns that the Fed may suggest slowing the pace of rate hikes beginning in December have recently appeared to test buyers of currency pairs.


Suggestion