EUR/USD 1.17426

USD/JPY 156.776

GBP/USD 1.35797

GBP/JPY 212.900

English
简体中文
繁體中文
Tiếng Việt
ไทย
Indonesia

Subscribe

Real-time News

May 8th - U.S. job growth may have slowed in April as the boost from temporary factors such as warmer weather and striking healthcare workers returning to work faded, but this does not signify a substantial change in the labor market, with the unemployment rate expected to remain stable at 4.3%. Data is also expected to show faster wage growth last month, further reinforcing financial market expectations that the Federal Reserve will keep interest rates unchanged until 2027. A Reuters poll shows economists attribute the volatility in employment data in part to adjustments this year to the "birth-death model," which estimates the number of jobs gained or lost due to business openings and closures. Some say that the large turnover of businesses has made it difficult for the Bureau of Labor Statistics, which compiles the employment report, to estimate job creation associated with new businesses. In addition, weather, strikes, government layoffs, and significant labor force shifts caused by the Trump administrations crackdown on illegal immigration have also exacerbated the volatility. Economists recommend referring to a three-month moving average of employment data for a better understanding of the labor market. Citigroup economist Veronica Clark stated that averaging the data from recent months still shows moderate positive job growth. Given that significant changes in immigration flows have already led to a sharp decline in average job growth this year, this alone is not a cause for concern.Toyota: Toyota will work with its suppliers to deal with the U.S. tariff issue, but in the past fiscal year, the actual burden fell mainly on Toyota.Toyota: Hybrid vehicle sales are expected to exceed 5 million units for the first time this fiscal year, with total electric vehicle sales reaching approximately 6 million units.According to Al Arabiya: Saudi Arabia has stated that it has not allowed other countries to use its airspace for offensive operations.JPMorgan Chase raised its target price for Airbnb (ABNB.O) from $130 to $140.

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.