EUR/USD 1.13597
0.493%
Gold 3319.44
2.659%
Oil 57.137
-1.934%
USD/JPY 143.649
-0.917%
GBP/USD 1.33293
0.395%
GBP/JPY 191.478
-0.525%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Central Bank of Egypt: Egypts oil imports increased by 53.3% to $9.7 billion from July to December 2024, due to an increase of $2.1 billion in natural gas imports.Apollo Global Management CEO: The United States may experience negative growth for two consecutive quarters.Apollo Global Management CEO: Some manufacturing jobs can come back to us.Torsten Slok, an economist at Apollo Global Management, wrote on May 5 that such a sharp drop in oil prices could cause U.S. producers to cut production and potentially seek layoffs. He pointed out that a Dallas Fed survey in May found that U.S. producers typically want to see oil prices between $61 and $70 to ensure that new drilling can be profitable. NYMEX crude oil closed at $58.29 last week. The Dallas Fed found in the survey that if oil prices "continue to hover in the recent $60-$64 range, employment may shrink further."May 5, according to people familiar with the matter, Apple (AAPL.O) plans to sell investment-grade bonds on Monday. People familiar with the matter said the iPhone maker is seeking to issue up to four parts of bonds, the longest of which is a 10-year bond, and the price initially discussed is 0.7 percentage points higher than U.S. Treasuries. Data shows that this is the first time Apple has issued corporate bonds in two years. This week, bankers expect $35 billion to $40 billion in new debt issuance, of which industrial and technology companies such as Apple may account for the majority. The person familiar with the matter said Barclays, Bank of America, Goldman Sachs Group and JPMorgan Chase are responsible for Apples bond issuance.

Despite contradictory inflation indicators from China, USD/CNH recovers to approximately 6.7700

Daniel Rogers

Jan 12, 2023 14:43

USD:CNH.png 

 

After dipping to roughly 6.7550 during the Asian session, the USD/CNH pair has risen. Despite China's National Bureau of Statistics (NBS) releasing contradictory Consumer Price Index (CPI) data for December, the asset has recognized demand and extended its recovery to near 6.7700.

 

The annual CPI has remained unchanged at 1.8%, which is in line with forecasts and higher than the prior statement of 1.6%. In contrast, the price index at the factory gate has decreased dramatically, indicating that producers have less negotiating power. In contrast to forecasts, the Producer Price Index (PPI) decreased by 0.7% rather than 0.1%.

 

The swiftness with which the Chinese government reopened the economy after a lengthy suspension to combat the Covid-19 epidemic has instilled optimism among market participants. The market anticipates a sharp improvement in economic prospects and foreign trade.

 

Morgan Stanley analysts have increased their forecast for China's Gross Domestic Product (GDP) this year to above 5%. "If policy can reduce obstacles to the housing/property sectors and COVID zero recovery, China's economic recovery should strengthen beginning in the second quarter of this year," they added.

 

In the interim, risk-sensitive assets are performing well due to investors' enhanced risk appetite, as indicated by the S&P 500 futures' string of weekly increases. The 10-year US Treasury rates have decreased to 3.55 percent due to optimistic market attitude. The US Dollar Index (DXY) has encountered resistance above 102.80 and has swung to the south in advance of U.S. inflation data.

 

Analysts at Wells Fargo believe that a further decline in energy costs will weigh on the headline and balance price rises in food and core services. However, the price decrease will also be assisted by a further decline in core products, led by used autos once more.


Suggestion