EUR/USD 1.16364
0.029%
Gold 4396.66
-0.111%
Oil 94.311
0.105%
USD/JPY 153.646
0.064%
GBP/USD 1.35499
0.029%
GBP/JPY 208.193
0.111%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 10, the Hong Kong Securities and Futures Commission (SFC) has instructed the Hong Kong Stock Exchange (HKEX) to suspend trading in the shares of Kangshiyun-B (02592.HK) from 9:00 a.m. on September 10, 2026, pursuant to Rule 8(1) of the Securities and Futures (Listing on Securities Markets) Rules (the Listing Rules). The SFC expresses serious concern that the initial public offering (IPO) of Kangshiyun may have been manipulated to create the illusion of demand for Kangshiyun shares. Therefore, the SFC considers that suspending trading in the relevant shares while the investigation continues is necessary or appropriate to maintain an orderly and fair market for Kangshiyun shares and to protect the interests of the investing public. As the investigation is ongoing, the SFC will not comment further.On September 10, Lu Lei, Vice Governor of the Peoples Bank of China, introduced at a press conference held by the State Council Information Office on the theme of "Starting the 15th Five-Year Plan" that overseas entities currently hold more than 11 trillion yuan of RMB financial assets in China, and central banks or monetary authorities of more than 80 countries and regions have included RMB in their foreign exchange reserves; Panda bonds have been issued for more than 1.3 trillion yuan, with issuers covering 26 countries and regions across five continents.Enterprise Singapore: For the week ending September 9, Singapores light distillate fuel oil inventories increased by 1.196 million barrels to 11.874 million barrels, a one-month high; middle distillate fuel oil inventories increased by 326,000 barrels to 8.237 million barrels, a two-week high; and fuel oil inventories decreased by 98,000 barrels to 20.355 million barrels, a two-week low.The Hang Seng Index closed down 320.49 points, or 1.27%, at 24,954.47 on Thursday, September 10; the Hang Seng Tech Index closed down 90.3 points, or 2.04%, at 4,330.49; the H-share Index closed down 94.27 points, or 1.13%, at 8,274.78; and the Red Chip Index closed down 59.99 points, or 1.41%, at 4,203.42.On September 10, at a press conference held by the State Council Information Office, Cong Lin, Deputy Director of the State Financial Regulatory Commission, stated that the government will promote the optimization of financial resource supply in the technology sector, improve policies on early, small, long-term, and hard-tech investments such as insurance funds, support the development of emerging and future industries, expand loan issuance to the manufacturing sector, vigorously serve the transformation and upgrading of traditional enterprises, and promote the construction of a modern industrial system.

AUD/USD demonstrates pre-Fed anxiety near 0.64 ahead of the US ADP Employment Change

Daniel Rogers

Nov 02, 2022 17:54

 截屏2022-11-02 上午10.53.53.png

 

Ahead of Wednesday's key Federal Open Market Committee (FOMC) meeting, traders become cautious, causing AUD/USD to bounce around 0.6400. Traders of the Australian dollar-United States dollar pair are challenged by both pre-Fed anxiety and China- and U.S.-related concerns during a poor Asian session.

 

However, recent strong US data reinforced expectations for hawkish Fed action and defied the market's initial anticipation that officials will signal fewer rate hikes beginning in December. However, increased recession fears and rising price pressure look to present a challenge for both Fed hawks and AUD/USD bears.

 

Despite this, the US JOLTS Job Openings increased to 10,717M in September, compared to the forecast of 10.0M and the upwardly revised readings of 10.28M. In addition, the US ISM Manufacturing PMI rose to 50.2 in October, compared to market forecasts of 50 and a previous reading of 50.9. Final readings of the US S&P Global Manufacturing PMI for October exceeded 49.9 preliminary predictions to reach 50.4, but stayed below the 52.0 readings from the prior month.

 

In contrast, the Reserve Bank of Australia's (RBA) preparedness to offer additional rate hikes, after announcing the second increase of 25 basis points (bps) to the benchmark rate the previous day, benefits AUD/USD buyers. During his scheduled speech on Tuesday, Reserve Bank of Australia (RBA) Governor Philip Lowe noted, "Rates have been significantly increased in a very short period of time." According to the official, the board has determined that a more gradual rate rise is necessary.

 

Aside from this, prospects of reducing covid restrictions in China and the recently higher China Caixin Manufacturing PMI for October may have helped AUD/USD buyers in the past, despite being the third consecutive reading below 50.

 

Yields remain unchanged at 4.05% following a solid start to November, while S&P 500 Futures register moderate gains despite Wall Street's poor close.

 

Consequently, AUD/USD pair traders should keep an eye on risk triggers and Australia's September Building Permits for fresh market impetus. Also essential will be the US ADP Employment Change for the month of October, as it gives an early indicator for Friday's US Nonfarm Payrolls report. However, significant emphasis should be placed on the Fed's ability to transmit a brake on the rapid rate hikes.

 

Combined with the AUD/USD pair's resistance to dip below the 10-DMA support near.6390, Tuesday's daily candle gives buyers hope. A downward-sloping resistance line from the beginning of August, which was near 0.6480 at the time of writing, challenges the upward momentum of the quote.


Suggestion