EUR/USD 1.18583
0.317%
Gold 5059.81
1.572%
Oil 60.974
-0.139%
USD/JPY 154.897
-0.588%
GBP/USD 1.36628
0.195%
GBP/JPY 211.639
-0.393%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The China Earthquake Networks Center officially reported that a 5.6-magnitude earthquake occurred in the Banda Sea, Indonesia (7.78 degrees south latitude, 127.77 degrees east longitude) at 08:54 on January 26, with a focal depth of 140 kilometers.On January 26th, a video claiming to show "gold refining" went viral on social media. In the video, a blogger claimed to have extracted a 191.73-gram piece of gold from a pile of discarded SIM cards and electronic chips through a series of complex processes. Based on current market prices, this small gold nugget would be worth over 200,000 RMB. Facing the public outcry, the blogger later clarified that he used 2 tons of raw materials, not all of which were shown in the video, and that it wasnt all SIM cards or credit card chips, but rather a collection of discarded electronic chips rich in gold plating. Mr. Lin, who has long been involved in the precious metals recycling industry, stated that the industry is very mature, and SIM cards, keyboards, and various electronic devices generally have gold plating. However, some self-media claims contain factual errors. Compared to the 0.02 grams of gold in a SIM card, the commonly used Nano-SIM card is only capable of yielding about 0.02 milligrams of gold, a difference of 1000 times from what is claimed online.Shenzhen Stock Exchange: The list of securities eligible for the Hong Kong Stock Connect has been adjusted, with Aneng Logistics being removed, effective January 26.According to Futures News on January 26, as of 8:30 AM Beijing time, spot platinum rose 0.22% and spot palladium rose 1.98%.January 26th - The Hong Kong Economic Journal, citing Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, reported that deposit rates have fallen back to zero, leaving banks with limited room to further lower their prime lending rates. From a risk management perspective, Yuen stated that banks should avoid further narrowing their net interest margins and should maintain a prudent strategy. Hong Kongs non-performing loan ratio rose slightly to 1.98% in the third quarter of last year.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

EUR:USD.png

 

Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers. 

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.


Suggestion