EUR/USD 1.18758

USD/JPY 146.275

GBP/USD 1.36604

GBP/JPY 199.822

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On September 17th, sources familiar with the matter revealed that JERA, Japans largest power producer, is in advanced negotiations with interested parties to acquire natural gas production assets in the United States for approximately $1.7 billion. This marks the latest example of Japanese investment in the U.S. energy sector. Sources said JERA emerged as the top bidder for GEP Haynesville II assets after banks solicited bids in recent weeks. The company is a joint venture between Blackstone Group-backed GeoSouthern Energy and pipeline operator Williams Companies. The deal would mark JERAs first foray into shale gas production and, as one of the worlds largest buyers of liquefied natural gas (LNG), would allow it to better control the supply chain as the boom in artificial intelligence drives surging power demand from data centers.The yield on the 20-year U.S. Treasury bond fell 0.8 basis points to 4.609% after the auction.The winning rate of the U.S. 20-year Treasury bond auction on September 16 was 4.613%, compared with the previous value of 4.88%.The bid-to-cover ratio for the U.S. 20-year Treasury bond auction on September 16 was 2.74, compared with the previous value of 2.54.On September 17, Indias Ministry of Commerce and Industry said after another round of bilateral talks in Delhi on Tuesday that India and the United States have decided to intensify efforts to reach a trade agreement as soon as possible. The Indian Ministry of Commerce and Industry said in a statement: "The talks were positive and forward-looking, covering all aspects of the trade deal. The two sides decided to intensify efforts to reach a mutually beneficial trade agreement as soon as possible." The Indian Ministry of Commerce and Industry also noted that a delegation of officials from the Office of the United States Trade Representative, led by Brendan Lynch, the chief negotiator for the India-US bilateral trade agreement, visited India.

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.