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According to RT: A massive explosion occurred in Kyiv, Ukraine, causing widespread power outages.The mayor of Kyiv, Ukraine, said a nine-story apartment building in Kyiv caught fire after a Russian attack.1. US crude oil futures closed up 5.85% at $92.47 per barrel; Brent crude oil futures rose 4.62% to $95.33 per barrel. The sudden shift in Middle East geopolitical tensions, with Iran suspending negotiations with the US and planning a complete blockade of the Strait of Hormuz (which handles about 20% of global oil transport), fueled concerns about supply disruptions. Meanwhile, US commercial crude oil inventories fell by 3.327 million barrels last week, keeping global crude oil inventories at low levels, further driving up oil prices. 2. International precious metals futures generally closed lower. COMEX gold futures fell 1.70% to $4514.80 per ounce, and COMEX silver futures fell 0.96% to $75.15 per ounce. The fluctuating Middle East situation pushed up inflation and interest rate hike expectations, while policy disagreements in the US created market uncertainty. Interest rate hikes increased the cost of holding gold, and in the battle between bulls and bears, bearish forces dominated the market. 3. Most London base metals rose, with LME tin up 2.50% to $56,805.0/ton, LME aluminum up 1.80% to $3,732.5/ton, LME copper up 1.79% to $13,879.5/ton, LME zinc up 1.19% to $3,582.0/ton, LME nickel up 0.86% to $19,225.0/ton, and LME lead down 0.20% to $2,012.0/ton. 4. The three major U.S. stock indexes closed slightly higher, with the Dow Jones Industrial Average up 0.09% to 51,078.88 points, the S&P 500 up 0.26% to 7,599.96 points, and the Nasdaq Composite up 0.42% to 27,086.81 points. All three major U.S. stock indexes continued to reach new closing highs. Salesforce rose more than 9%, and IBM rose more than 7%, leading the Dow Jones gains. 5. European stock markets closed lower across the board. The German DAX index fell 0.40% to 25,003.04 points; the French CAC40 index fell 0.45% to 8,146.59 points; and the UK FTSE 100 index fell 0.68% to 10,338.95 points. 6. US Treasury yields were mixed. The 2-year Treasury yield rose 3.09 basis points to 4.031%, the 3-year Treasury yield rose 3.14 basis points to 4.082%, the 5-year Treasury yield rose 2.62 basis points to 4.163%, the 10-year Treasury yield rose 1.77 basis points to 4.453%, and the 30-year Treasury yield fell 0.20 basis points to 4.970%.Eyewitness: Ukrainian air defense systems are defending against air attacks over Kyiv.June 2nd - According to the official Weibo account of Qwen Big Model, Alibaba officially released the Qwen3.7-Plus multimodal intelligent agent model on June 2nd. The model, based on the text capabilities of Qwen3.7, has comprehensively upgraded its visual-language capabilities while maintaining full intelligent agent capabilities in coding, tool usage, and productivity workflows.

AUD/USD soars to almost 0.6400 on stronger-than-expected 7.3% Australian CPI

Alina Haynes

Oct 26, 2022 15:31

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The AUD/USD pair increased to 0.6400 after the Australian Bureau of Statistics reported that the headline Consumer Price Index (CPI) for the third quarter of CY2022 was 7.3%, which was higher than the consensus expectation of 7.0% and the previous release of 6.1%. In addition, the quarterly inflation rate has matched the prior estimate of 1.8% and above predictions of 1.5%.

 

This may drive the Reserve Bank of Australia (RBA) to announce a higher rate hike in its upcoming monetary policy. The RBA raised the Official Cash Rate (OCR) by 25 basis points (bps) to 2.6% during its monetary policy meeting in October. Governor Philip Lowe of the RBA slowed the pace of rate hikes in October, after the central bank had projected a 50 basis point rate hike period. Now, a larger-than-expected rate hike will require the RBA to return to a rate hike cycle of 50 basis points.

 

The Aussie bulls displayed a significant increase on Tuesday and defended the pessimism generated by Chinese President Jinping. The extraordinary third term of Chinese President XI Jinping lowered investor enthusiasm for Chinese stocks and other linked assets. Because Jinping's ideology-driven policies are detrimental to China's economic prospects, Australia was punished for being China's most important trading partner.

 

In the interim, the US dollar index (DXY) is retracing and has surpassed the 111.00 mark. Following a three-day purchasing binge, the risk-on profile has taken a knock as S&P500 futures have experienced a dramatic plunge. This could be a correction in the S&P 500 index after a bigger advance.