EUR/USD 1.15766

USD/JPY 159.694

GBP/USD 1.35293

GBP/JPY 216.060

English
简体中文
繁體中文
Tiếng Việt
ไทย
Indonesia

Subscribe

Real-time News

Ukrainian Foreign Minister: Putin continues to delay the conflict instead of accepting Ukraines realistic ceasefire proposals to end it.On August 18th, the General Office of the Shanghai Municipal Peoples Government issued the "Shanghai Modern Logistics Development 15th Five-Year Plan". It proposes to study and plan the layout of industrial logistics parks around key industrial areas. The Pudong International Aviation City Industrial Logistics Park will focus on providing logistics and transportation services for large aircraft, large components, aircraft maintenance, and aviation food and supplies. The Jiading Anting Industrial Logistics Park will focus on the distribution of complete vehicles and parts, and the logistics functions supporting the industrial chain. The Songjiang Xinbang Industrial Logistics Park will focus on leveraging the radiation effect of the G60 Science and Technology Innovation Corridor and strive to build a supply chain integrated service platform. The Fengxian Nanqiao Industrial Logistics Park will focus on serving the development needs of Fengxian Districts beauty and health, green new energy, new materials, and digital intelligent equipment industries. The Baoshan Luojing Industrial Logistics Park will focus on serving industries such as robotics and high-end equipment, and high-end new materials.On August 18, the 71st meeting of the Standing Committee of the 14th National Peoples Congress (NPC) was held at the Great Hall of the People in Beijing. Chairman Zhao Leji presided over the meeting. The meeting decided that the 24th session of the Standing Committee of the 14th NPC will be held in Beijing from August 25 to 28. The meeting recommended that the 24th session of the Standing Committee of the 14th NPC deliberate on the draft Medical Security Law, the draft Law on Farmland Protection and Quality Improvement, the draft revision of the Agricultural Law, the draft revision of the National Defense Mobilization Law, the draft amendment to the Lawyers Law, the draft revision of the Enterprise Bankruptcy Law, the draft revision of the Banking Supervision and Management Law, and the draft revision of the Water Law; deliberate on the State Councils proposal to submit the draft revision of the Road Traffic Safety Law for deliberation; deliberate on the National Supervisory Commissions proposal to submit the draft Anti-Cross-Border Corruption Law for deliberation; and deliberate on the State Councils proposal to submit the "Extradition Treaty between the Peoples Republic of China and Hungary" for deliberation and approval. The agenda for the 24th meeting of the Standing Committee, as proposed by the Chairmans Meeting, also includes: reviewing the State Councils reports on the implementation of the national economic and social development plan since the beginning of this year, the budget implementation since the beginning of this year, the government debt management for 2025, the work on improving the quality of cultural products and services, and the work on continuously consolidating and expanding the achievements in poverty alleviation and solidly promoting the comprehensive revitalization of rural areas; reviewing the report of the Credentials Committee of the Standing Committee of the National Peoples Congress on the qualifications of individual deputies; and reviewing relevant appointment and removal proposals.According to the Yemeni news agency, military sources say the Houthi rebels used drones to attack Saudi Aramcos Jizan oil refinery, though this has not yet been confirmed by Saudi Arabia.August 18th - It was learned today that the State Administration for Market Regulation (National Standardization Administration) has approved and released the mandatory national standard "General Technical Specification for Positioning Modules of the BeiDou Satellite Navigation System for Transportation," which will be implemented from February 1, 2027. The implementation of this standard will effectively unify the product technical specifications of BeiDou positioning modules in the transportation industry, strongly support the industrys digital transformation and intelligent upgrading, and promote the large-scale application of the BeiDou system in the transportation sector. This standard systematically specifies the technical requirements, inspection rules, and testing methods for positioning modules of the BeiDou Satellite Navigation System for transportation.

NZD/USD finds support near 0.6220; a decline appears more probable due to China's Covid concerns

Alina Haynes

Nov 28, 2022 15:04

截屏2022-11-28 上午10.39.08.png

China's anti-Covid shutdown protests have weakened commodity-linked currencies, resulting in a gap-down start of roughly 0.6220 for the NZD/USD pair. During the previous week, the New Zealand dollar dropped after failing to surpass the round-level barrier of 0.6300.

Individuals have taken to the streets in China to demonstrate their opposition against the zero-tolerance policy, leading to a rise in civil unrest. Due to Chinese leader Xi Jinping's conservative posture and authoritarian framework, global markets have become more risk-averse. This has created an economic expansion risk and may worsen the already shaky housing market. Increasing apprehensions about societal risks may also result in political instability, which may have long-lasting detrimental effects on economic structure.

Notably, New Zealand is one of China's most important trading partners, and instability in China could damage the New Zealand Dollar.

In the meantime, the US Dollar Index (DXY) is profiting from investors' liquidity as the demand for safe-haven assets surges. The USD Index is hovering around 106.20 and attempting to reduce volatility as China's anti-locking protests restrict the upside and predictions of a slowdown in the Federal Reserve's larger rate hike cycle limit the downside (Fed).

S&P500 futures are under heavy pressure from market players due to a risk-averse market mentality. In anticipation of Fed chief Jerome Powell's address on Wednesday, yields on 10-year US Treasuries have decreased to approximately 3.68 percent. The Fed Chair's speech could dispel suspicions about a pause to the Fed's current rate-hiking program.