EUR/USD 1.15925
0.062%
Gold 4450.64
-0.168%
Oil 84.487
2.145%
USD/JPY 159.798
-0.173%
GBP/USD 1.35450
0.053%
GBP/JPY 216.451
-0.112%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Chinas composite PMI for August was 49.5, compared to 49.3 in the previous month.On August 31st, it was reported that Chinas Manufacturing Purchasing Managers Index (PMI) for August was 49.8%, up 0.6 percentage points from the previous month. Huo Lihui, Chief Statistician of the Service Industry Survey Center of the National Bureau of Statistics, explained that among the 21 industries surveyed, 16 saw an increase in their PMI compared to the previous month, indicating a significant improvement in the manufacturing sectors economic climate. Specifically, both production and demand in the manufacturing sector expanded simultaneously, with the production index and new orders index at 50.4% and 50.6% respectively, up 0.5 and 2.1 percentage points from the previous month. Domestic demand rebounded significantly, and overseas market demand also improved. He Hui, Vice President of the China Federation of Logistics and Purchasing, explained that both domestic and international market demand for manufacturing expanded in August, with both the new orders index and new export orders index showing significant year-on-year and month-on-month increases. The month-on-month change in market demand was better than the same period last year, indicating that policy support has effectively strengthened the driving force of economic development.Chinas official manufacturing PMI for August was 49.8, below the expected 49.6 and the previous reading of 49.2.Hong Kong stocks opened lower, with the Hang Seng Index down 0.64% and the Hang Seng Tech Index down 0.42%. Mainland property and banking sectors led the gains, while gold stocks fell sharply. Meituan (03690.HK) rose 2.52% after its earnings report, and Beike (02423.HK) rose more than 4%.The yield on Japans 5-year government bond rose 2.5 basis points to 2.210%.

The USD/JPY crosses the 135.00 mark as the DXY rises ahead of US inflation

Daniel Rogers

Aug 10, 2022 11:32

 截屏2022-08-10 上午10.31.53.png

 

The USD/JPY pair is climbing northward during the Asian session in an attempt to retake its two-week high at 135.58. The asset's price turned positive on Monday as a result of the abundance of bids that occurred near 134.50. The USD/JPY pair's two-day consolidated activity shows that market participants are anxiously awaiting the release of the US Consumer Price Index (CPI).

 

Investors expect a decrease in price pressures this time, thus the release of the US inflation report is crucial. The investment community is aware that the crisis between Russia and Ukraine sharply increased oil prices, which continued to be essential to pressures on global costs.

 

A more than 11% drop in oil prices in July contributed to the black gold's continued sluggishness and lowered inflation expectations. The market anticipates that the inflation rate will decrease from 9.1% to 8.7%. The core CPI, which does not include food and oil, is anticipated to increase to 6.1% from the previously announced 5.9%. It appears that the demand for durable goods is rapidly increasing again. The US dollar index (DXY) is currently aiming to surpass the 106.40 immediate barrier.

 

The yen bulls are circling Tokyo as a result of Japan's government reorganization. Finance Minister Shunichi Suzuki will probably remain in the cabinet after this week's reorganization by Japanese Prime Minister Fumio Kishida. All eyes will now be on the Japanese government's efforts to raise the labor cost index, which is essential for keeping inflation over 2%.


Suggestion