EUR/USD 1.16513
-0.161%
Gold 4319.81
2.223%
Oil 56.565
-0.951%
USD/JPY 150.654
0.118%
GBP/USD 1.34292
-0.059%
GBP/JPY 202.322
0.060%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On October 20th, Loop Capital became another institution optimistic about the positive trend in iPhone demand. After Loop Capital upgraded Apple (AAPL.O)s stock rating from "hold" to "buy," Apples stock price is expected to open near its all-time high on Monday. The stock rose 1.4% in pre-market trading, just one step away from its all-time high set in December of last year. The current closing price is still about 2.6% below that record. Despite its recent strong performance, Apples gains so far in 2025 have been limited, underperforming the Nasdaq 100 Indexs 18% increase. Analyst Ananda Baruah noted: "We are at the beginning of Apples long-expected device refresh cycle, which suggests that iPhone shipments will continue to grow until the end of 2027." He added that this reflects "demand momentum driven by both the replacement cycle and the new design cycle," referring to the speed at which users replace their old devices.Merck (MRK.N): will invest more than $70 billion to expand production and R&D in the United States.Micron Technology (MU.O) shares rose 4.2% in premarket trading after Barclays raised its price target.Spot gold touched $4,300 an ounce, rebounding about $80 from the intraday low, with an intraday increase of 1.37%.On October 20, Hungarian Foreign Minister Peter Szijjarto stated on social media that the EU plans to pay billions of euros and a large amount of weapons to Ukraine, which will be paid for by significantly increasing public spending. Hungary must resist this.

As the US labor market strengthens and China CPI is anticipated, AUD / USD Appears Vulnerable Near 0.6600

Alina Haynes

Mar 09, 2023 13:59

 AUD:USD.png

 

The AUD / USD pair is displaying a back-and-forth pattern during the Asian session below the round-level resistance of 0.6600. The Australian asset appears vulnerable at the same time that the risk-aversion theme has been strengthened by intensifying fears of a U.S. recession and expectations of higher rates from the Federal Reserve (Fed).

 

S&P500 futures are displaying nominal losses following a fragile recovery move. It seems that the dead cat recovery move by the 500-US stocks basket is tapering away. The US Dollar Index (DXY) has turned sideways above 105.20 after a modest correction; however, the upside appears favored amid positive U.S. Employment data.

 

The robust addition of new jobs to the US labor market in February as a result of rising demand has validated Fed policymakers' concerns about persistent inflation. The United States Automatic Data Processing (ADP) reported an increase of 242K positions in February, exceeding both the expected increase of 200K and the previous release of 119K. As a result, Fed Chair Jerome Powell stated, "The Fed is prepared to announce more rates to reduce inflation."

 

The US Nonfarm Payrolls (NFP) data, which will be released on Friday, will provide investors with greater insight into the state of the US labor market. In addition, the dissemination of the Unemployment Rate and Average Hourly Wages will be crucial.

 

The Australian Dollar has been under intensified pressure following the Reserve Bank of Australia's (RBA) fifth consecutive 25 basis point (bps) rate hike and RBA Governor Philip Lowe's consideration of a policy-tightening suspension in response to a one-time blip in the monthly Consumer Price Index (CPI).

 

Investors are currently focused on China's Consumer Price Index (CPI) (February) data. It is anticipated that China's annual CPI will decrease to 1.9% from the previous release of 2.1%. The monthly CPI in China has been reduced to 0.2% from 0.8% previously. If inflation declines, the Chinese government and the People's Bank of China (PBOC) may be forced to infuse more liquidity into the economy.


Suggestion