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January 24th - Public discontent in Denmark over the USs demand for Greenland is spreading to supermarket shelves, and a mobile app that "helps" Danish consumers identify the country of origin of goods so they can refuse American products has recently become very popular in the country. Reportedly, an app called UdenUSA (meaning "No America") is gaining widespread popularity in Denmark. The app was developed by 21-year-old Dane Jonas Piper and his friend Malte Hensbel. Piper stated that many consumers want to avoid buying American-made food, but often find it difficult to identify the country of origin in supermarkets. The UdenUSA app addresses this need by indicating the country of origin for each product.On January 24, local time, an Iranian official stated that the Iranian military is prepared to respond to any possible actions by the United States. The unnamed official said, "The Iranian military is prepared for the worst-case scenario, but we hope that the troop increase will not escalate into actual confrontation." He added, "We consider any potential attack by the United States to be an existential threat to Iran." The official also warned the United States and Israel against such risky actions, stating, "The collapse of Iran would directly lead to the collapse of the region, including Israel." The official added, "Our situation is far better than during the 12-Day War; there is no longer any so-called surprise attack."On January 24th, it was reported that on December 24th of last year, four departments, including the Beijing Municipal Commission of Housing and Urban-Rural Development, issued the "Notice on Further Optimizing and Adjusting Relevant Policies of Beijing Real Estate," which involved adjustments to purchase restrictions and credit optimization. Overall, since the implementation of the new policy a month ago, transaction volume has been steadily increasing. Data from Centaline Property shows that since the release of the notice, the average daily number of new home sales contracts has increased by 44.6% month-on-month, with improved housing projects outside the Fifth Ring Road performing particularly well. In the secondary market, after the new policy, the average daily number of viewings at real estate agencies has increased by more than 20% compared to normal, and the average daily transaction volume of secondary homes has exceeded 500 units.January 24th - The Fourth Session of the 14th Beijing Municipal Committee of the Chinese Peoples Political Consultative Conference (CPPCC) solemnly opened at the Beijing Conference Center at 9:00 AM today (January 24th). The opening session will review and adopt the "Agenda of the Fourth Session of the 14th Beijing Municipal Committee of the CPPCC," hear the "Work Report of the Standing Committee of the 14th Beijing Municipal Committee of the CPPCC," and hear the "Report of the Standing Committee of the Beijing Municipal Committee of the CPPCC on the Work of Proposals Since the Third Session of the 14th CPPCC."DownDetector, a network monitoring website, reports user complaints that social media platform “X” is experiencing issues.

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.