• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Governor of Kharkiv, Ukraine: Russias attack on the Kharkiv region on Sunday has killed 10 people.[Armed conflict hits domestic industrial system hard, Sudans trade deficit reaches 4.8 billion US dollars in the first quarter] According to Sudanese media reports on the 19th local time, Sudans Minister of Trade and Supply Yusuf said that Sudans trade deficit in the first quarter of this year reached 4.8 billion US dollars. Among them, the total export volume was 3.8 billion US dollars and the total import volume was 8.6 billion US dollars. It is understood that Sudans ongoing armed conflict has destroyed the countrys industrial system, and 85% of Sudans factories have been damaged. This has forced the Sudanese government to import large amounts of daily necessities such as sugar, tea, milk, and flour from overseas to meet domestic demand. Yusuf said that the influx of Sudan also includes uncontrolled imported goods, which has led the Sudanese Ministry of Trade and Supply to implement stricter import and export control measures.According to the Times of Israel: Azmi Abu Daqqa, a senior Hamas operative, was killed in an Israeli airstrike.[The Dow Jones Industrial Average closed above 40,000 points for the first time, and US stock analysts continue to be bullish] The US blue-chip stock index Dow Jones Industrial Average closed above 40,000 points for the first time in its 128-year history, a milestone reached as the bull market continues to advance. After the inflation report rekindled the markets hope that the Federal Reserve would cut interest rates, the stock market hit its longest weekly positive cycle since February this year. Strong corporate earnings also drove the stock market higher. "We maintain our bullish stance." Blue-chip stock analyst Larry Tentarelli said. He pointed out that "if this situation continues," it will lay the foundation for the Dow Jones Index to stand above 42,500 points by the end of this year. Mark Newton, an analyst at the US "Fund Strategy" global consulting firm, said: "The bullishness is correct, and the market consolidation will make the S&P 500 more attractive to further rise and stand above 5,400 points. It is a difficult choice for investors to choose to wait for the possible consolidation. But I think the facts will prove that any weakness is temporary."Ukrainian sources: Ukraines Security Service used military drones to hit an oil refinery and an airport in the Krasnodar region in southern Russia in a nighttime attack.

Despite a Mixed China PMI and a Strengthening USD, AUD/USD Remains below 0.7200

Daniel Rogers

May 31, 2022 14:45

 截屏2022-05-31 上午11.41.36.png

 

AUD/USD struggles to rebound from its intraday low of 0.7160, ending a three-day climb above the monthly high, as Australian traders review Chinese activity data and domestic housing data on Tuesday morning. In doing so, the Australian dollar pair splits a three-day uptrend and decreases daily from its highest levels since the beginning of May.

 

China's official activity statistics showed a dip in May, with the headline NBS Manufacturing PMI meeting market forecasts at 49.6 compared to 47.4 earlier, and the Non-Manufacturing PMI falling to 47.8 below the market's 50.7 forecast.

 

In addition, Australia's Building Permits declined by -2.4 percent in April, compared to the anticipated 2.0 percent increase and previous readings of -18.5 percent.

 

Despite bad data from Australia's largest client and lower housing statistics at home, AUD/USD traders can maintain recent gains due to the market's mixed attitude and the US dollar's recovery.

 

As bond buyers take a vacation in the early hours of Tuesday, market excitement wanes, supporting a slide in riskier assets such as stocks and commodities. In addition, developments in Europe and consolidation at the conclusion of the month undermined the earlier risk-on mentality. Futures for the S&P 500 retrace from a three-week high that was reached the previous day in order to retest the 4,155 level. In addition, 10-year US Treasury yields have risen by 8.5 basis points (bps) to 2.835% as of press time.

 

Given the US recovery and a shift in market sentiment, as well as bad data from China and Australia, it is anticipated that the AUD/USD exchange rate will continue to decrease. Nevertheless, risk catalysts and secondary US activity statistics for the month of May must be attentively examined.

Technical Evaluation

A AUD/USD decline remains elusive as of press time till the pair holds above a 13-day-old support line near 0.7135. To satisfy buyers, though, recovery moves must rebuild the monthly high near 0.7270 by the latest.