EUR/USD 1.18208
0.563%
Gold 4981.50
0.923%
Oil 61.059
2.474%
USD/JPY 155.813
-1.645%
GBP/USD 1.36362
0.994%
GBP/JPY 212.474
-0.652%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
January 25th - The Fourth Session of the 16th Beijing Municipal Peoples Congress convened. The meeting revealed that Beijing has over 1.3 million new energy vehicles, with over 80% of them meeting or exceeding the "National V" emission standard. Data shows that by 2025, Beijing will implement a policy to scrap and replace old freight vehicles and large and medium-sized buses with emission standards of National IV and below, leading to the elimination of over 10,000 old freight vehicles; 500 new energy buses have been registered; and all newly added and updated taxis, light postal vehicles, and sanitation vehicles are new energy vehicles. Beijing has already built 1,044 electric vehicle supercharging stations and added 11,263 charging interfaces.January 25th – The first meeting of the third council of the China Brand Building Promotion Association was held in Beijing on January 25th. The meeting pointed out that brand building is an important component of enhancing enterprises core competitiveness, a crucial measure for cultivating and strengthening new drivers of economic development, and an inherent requirement for meeting the peoples needs for a better life. The China Brand Building Promotion Association must adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and its subsequent plenary sessions, implement General Secretary Xi Jinpings important instructions on brand building, and follow the deployment of the Party Group of the State Administration of Radio and Television. It must deeply implement the brand development strategy, strengthen special research and experience exchange on brand building, strengthen brand theory research and talent cultivation, strengthen brand evaluation and standard construction, strengthen brand promotion and international cooperation, create a favorable environment for brand development, continuously enhance brand competitiveness, influence, and internationalization, promote my countrys brand building cause to a new level, and make new contributions to promoting high-quality economic development.Saudi government data: Saudi Arabias imports fell 0.2% in November.Saudi government data: Saudi non-oil exports grew by 20.7% in November.Saudi government data: Saudi Arabias exports grew by 10.0% in November, with oil exports increasing by 5.4%.

The US Dollar Index is higher at 108.00 as strong Fed talk is supported by US inflation

Daniel Rogers

Jul 14, 2022 14:35

 截屏2022-07-14 上午9.29.31.png

 

The US Dollar Index (DXY) increased 0.15 percent to 108.20 during Thursday's Asian session, supporting the four-day high inflation report and reversing a two-day loss. An increasing sense of pessimism about Europe and concerns about a worldwide economic slump may also be to blame for the recent surge in the dollar index.

 

Despite being aware of the greatest US inflation numbers in forty years, recent Fed policymakers welcomed the market's hawkish predisposition. Mary Daly, head of the Federal Reserve Bank of San Francisco, recently said that a 75bp hike in July is most likely, but a 100bp increase is still possible, according to the New York Times. Prior to that, Loretta Mester, president of the Federal Reserve Bank of Cleveland, said, "The CPI data does not indicate a smaller rate hike in July than in June," in contrast to Thomas Barkin, president of the Federal Reserve Bank of Richmond, who supported higher rates at the previous meeting.

 

Despite this, the US Consumer Price Index (CPI) rose by 9.1% year over year in June, as opposed to the 8.8% projected and 8.8% before. The Core CPI, which excludes volatile food and energy prices, dropped from 6% to 5.9%, exceeding the 5.8% prediction of experts. It is noteworthy that the BOC announced a 100 bps rate increase, contrary to what the market had anticipated the day before.

 

White House (WH) Economic Adviser Brian Deese said CNBC, as reported by Reuters, that the CPI data shows that Congress has to approve legislation to increase semiconductor manufacture in the US. In contrast, US President Joe Biden claimed that the drop in the price of gasoline had rendered the CPI statistics "out of data."

 

While 10-year Treasury rates dropped four basis points (bps) to 2.93 percent at the close of the Wednesday North American session, Wall Street benchmarks still ended the day in the red. Additionally, US 2-year Treasury rates increased by 3.5 percent in a single day to reach 3.15 percent, which heightened recession fears and strengthened the inversion at the 10-year barrier. As a result, as of the time of publication, S&P 500 Futures had declined by 0.60 percent.

 

The US Producer Price Index for June and the monthly Jobless Claims numbers will soon grace the calendar and amuse DXY traders. However, there will be a strong emphasis on Fedspeak and risk factors like conversation about the recession.


Suggestion