EUR/USD 1.16341
-0.215%
Gold 4507.58
0.663%
Oil 58.618
0.632%
USD/JPY 157.879
0.650%
GBP/USD 1.34060
-0.254%
GBP/JPY 211.655
0.407%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
January 10th - As 2026 begins, a new round of competition has kicked off in the Chinese auto market. Automakers are offering promotional discounts and launching updated models with added features but no price increases. However, unlike last year, the fierce competition in the auto market has arrived earlier this year. According to incomplete statistics, since January 1st, more than 20 automakers and over 75 models have launched limited-time promotional activities, with diverse promotional methods. Some models offer direct cash subsidies, some offer fixed-price sales, some offer 3-year or 5-year interest-free financing, and some combine trade-in subsidies with additional incentives.On January 10, Yonhap News Agency reported that South Korean Defense Minister Ahn Gyu-baek stated regarding the allegation of a South Korean drone violating North Korean airspace that this was "absolutely not true," and that the drone shown in the publicly released photos by North Korea was not a type owned by the South Korean military. He also indicated that a joint inter-Korean investigation could be conducted into the matter.On January 10th, the U.S. Department of Agriculture announced on the 9th that it was immediately suspending all federal funding to Minnesota due to a large-scale fraud investigation in the state. U.S. Agriculture Secretary Brooke Rawlings posted on social media: "The Trump Administration has uncovered a massive fraud in Minnesota and Minneapolis—billions of dollars have been misappropriated by fraudsters. The U.S. Department of Agriculture is immediately suspending all federal funding to Minnesota until there is sufficient evidence that the fraud has ceased."NASA plans to separate and dock SpaceX Crew 11 with the International Space Station no earlier than 5 p.m. ET on January 14 (6 a.m. Beijing time on January 15).On January 10th, Trump posted on social media: "I hereby declare that we will not tolerate the American public being ripped off by credit card companies charging 20% to 30% or even higher interest rates, a practice that was rampant during the sleepy Joe Biden administration. It must be affordable! Starting January 20, 2026, as President of the United States, I will implement a one-year cap on credit card interest rates at 10%." Its worth noting that this date coincides with the one-year anniversary of the "historic and extremely successful" Trump administration.

US Dollar Index Follows Yields Higher To Reclaim Monthly High Prior To Powell's Speech

Daniel Rogers

Feb 07, 2023 15:55

 US Dollar Index.png

 

The US Dollar Index (DXY) surges to 103.60 as buyers flex their muscles ahead of an important speech by Federal Reserve (Fed) Chairman Jerome Powell. By tracking positive US Treasury bond yields and hawkish Fed worries, the dollar's signal versus the six major currencies keeps DXY bulls happy.

 

However, statements by US Treasury Secretary Janet Yellen and Vice President Joe Biden help DXY bulls by delaying recession fears and bolstering hawkish wagers on the Fed's impending actions. In their respective remarks, both policymakers, however, minimized the probability of a U.S. recession. In response to favorable US data, traders increased their hawkish wagers on the Fed, which contributed to the dollar's strength.

 

Notably, last week's upbeat US employment, wage, and activity figures reignited optimism that the Federal Reserve still has work to do before it can welcome rate hawks and policy doves.

 

Recent discussions regarding Sino-American relations, especially after the United States shot down a Chinese balloon and postponed a diplomatic visit to Beijing, provided additional support for the DXY bulls the day before, along with fading recession fears and a buoyant US data-driven hawkish Fed bias. Recent comments by US Vice President Joe Biden appear reassuring, as he noted, "The balloon incident does not impair US-China relations."

 

Wall Street ended in the red as 10-year US Treasury bond yields extended Friday's rally, allowing the DXY to climb for a third consecutive day.

 

Aside from Fed Chair Jerome Powell's speech and US Vice President Joe Biden's State of the Union (SOTU) address, the US Dollar Index may move sideways in the near future. If Powell chooses to laud recent economic advances in the United States and reiterates his hawkish stance on monetary policy, the DXY might extend its gains.


Suggestion