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On September 15th, data from the National Bureau of Statistics showed that in August, the year-on-year decline in new residential property prices in first-tier cities was 0.9%, a decrease of 0.2 percentage points compared to the previous month. Specifically, prices in Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai saw an increase of 3.0%. In second- and third-tier cities, the year-on-year declines in new residential property prices were 2.7% and 4.1% respectively, both narrowing by 0.1 percentage points. In August, the year-on-year decline in existing residential property prices in first-tier cities was 2.7%, a decrease of 1.0 percentage point compared to the previous month. Specifically, prices in Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. In second- and third-tier cities, the year-on-year declines in existing residential property prices were 4.9% and 5.6% respectively, both narrowing by 0.2 percentage points.New Residential Housing Prices: 1. Beijing: August new residential housing prices -0.2% month-on-month (previous value -0.3%), -2.3% year-on-year (previous value -2.3%). 2. Shanghai: August new residential housing prices +0.4% month-on-month (previous value +0.2%), +3.0% year-on-year (previous value +3.0%). 3. Guangzhou: August new residential housing prices +0.1% month-on-month (previous value +0.1%), -1.9% year-on-year (previous value -2.2%). 4. Shenzhen: August new residential housing prices +0.2% month-on-month (previous value +0.2%), -2.3% year-on-year (previous value -2.9%). Second-hand Residential Housing Prices: 1. Beijing: August second-hand residential housing prices -0.1% month-on-month (previous value 0.0%), -3.5% year-on-year (previous value -4.5%). 2. Shanghais existing home prices in August increased by 0.3% month-on-month (previous value +0.3%) and decreased by 0.8% year-on-year (previous value -2.0%). 3. Guangzhous existing home prices in August remained unchanged month-on-month (previous value +0.4%) and decreased by 3.8% year-on-year (previous value -4.7%). 4. Shenzhens existing home prices in August increased by 0.1% month-on-month (previous value +0.2%) and decreased by 2.7% year-on-year (previous value -3.6%).National Bureau of Statistics: Beijings second-hand housing prices in August decreased by 0.1% month-on-month (previous value +0%) and decreased by 3.5% year-on-year (previous value -4.5%).According to the National Bureau of Statistics, the price of second-hand residential properties in Shenzhen rose 0.1% month-on-month in August (up 0.2% in the previous month) and fell 2.7% year-on-year (down 3.6% in the previous month).September 15th - The 2026 China Carbon Market Conference was held in Wuhan, Hubei Province this morning, and the "National Carbon Market Development Report (2026)" was released at the conference. Reporters learned that as of the end of August, the national carbon emission trading market had accumulated transactions exceeding 900 million tons, with a transaction value exceeding 60 billion yuan. The national carbon market has grown from nothing to a significant stage, playing a crucial role in promoting the achievement of carbon peaking and carbon neutrality goals.

Despite the RBNZ's pessimistic expectations, the AUD/NZD crosses a new weekly high of 1.1090

Alina Haynes

Jul 08, 2022 11:35

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Early in the Tokyo trading session, the AUD/NZD pair hit a new weekly high of 1.1088. Since the Reserve Bank of Australia announced a rate increase during the previous two trading sessions, the cross has been in the hands of bulls (RBA).

 

RBA Governor Philip Lowe announced a 50 basis point (bps) increase in interest rates this week. The Official Cash Rate (OCR) has been raised by the RBA to 1.35 percent. The announcement matched the expectations of market participants. Due to rising prices for food and fossil fuels, pricing pressures in the Australian economy are getting worse. As a result, the first quarter of CY2022 saw an inflation rate of 5.1%.

 

The Australian Trade Balance has made the Australian dollar more valuable relative to the New Zealand dollar. The monthly economic figures came in at 15,965M, above the 10,725M projected and the 13,248M reported in the prior report.

 

Investors' attention will be focused on the Australian jobs data the following week. Market analysts anticipate that the Employment Change will remain at 25k, a significant drop from the prior estimate of 60.6k.

 

Investor focus has shifted to the Reserve Bank of New Zealand's interest rate decision on the kiwi front (RBNZ). In view of the growing inflation rate, RBNZ Governor Adrian Orr may raise the OCR further. The RBNZ's OCR is at 2 percent. The RBNZ has raised interest rates at a quicker rate than other Western leaders, which is noteworthy. The objective of neutral interest rates will be achieved more quickly.

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