EUR/USD 1.17423

USD/JPY 156.632

GBP/USD 1.34497

GBP/JPY 210.669

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December 31st - The US dollar is poised for its biggest annual drop in eight years, with investors saying it could fall further if the next Federal Reserve chairman chooses to cut interest rates as expected. Following its plunge after Trump announced a series of tariffs in April, the dollar faces continued pressure as the government actively pushes for the appointment of a dovish Fed chairman next year. Nomura Securities currency strategist Yusuke Miyairi stated, "The biggest factor affecting the dollar in the first quarter will be the Federal Reserve. This isnt just about the January and March meetings, but about who will be the Fed chairman after Powells term ends."On December 31, under the overall guidance of the China Securities Regulatory Commission (CSRC), the Shanghai Stock Exchange revised its "Stock Listing Rules" and "Standardized Operation Guidelines" for the Main Board and the Science and Technology Innovation Board, and solicited public opinions. The main revisions include: establishing a full-process regulatory system for the appointment, performance, and dismissal of company secretaries; further improving the protection of company secretaries performance of their duties; guiding company secretaries to better perform their duties; fully leveraging the role of company secretaries in information disclosure, corporate governance, and internal and external communication and coordination; and promoting the improvement of the quality of listed companies. The revisions also refine relevant regulations for directors and senior executives, improve the regulatory system for directors and senior executives, and comprehensively regulate their appointment, performance, and departure, urging directors and senior executives to faithfully and diligently perform their duties; improve the incentive and restraint mechanism for directors and senior executives, requiring listed companies to formulate remuneration management systems that stipulate that the remuneration of directors and senior executives is commensurate with the companys operating performance and individual performance, promoting a better alignment of interests between directors, senior executives, and the company; and further regulate the behavior of controlling shareholders and actual controllers, strictly limiting competition from related parties that may have a significant adverse impact on listed companies.On December 31, Jiaze New Energy announced that it plans to repurchase company shares for RMB 220 million to RMB 440 million, with a repurchase price not exceeding RMB 6.63 per share.Xi Jinping: In the past year, the rights and interests of newly employed groups have been further protected, age-friendly renovations have brought convenience to the elderly, and families with children have received an additional 300 yuan subsidy per month.Xi Jinping: We rely on innovation to empower high-quality development. Science and technology are deeply integrated with industry, innovative achievements are emerging in rapid succession, large-scale artificial intelligence models are catching up and catching up, and new breakthroughs have been made in independent chip research and development. my country has become one of the fastest-growing economies in terms of innovation.

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

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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.