EUR/USD 1.16407
-0.093%
Gold 4594.06
-0.165%
Oil 82.156
-0.973%
USD/JPY 159.608
0.137%
GBP/USD 1.35769
-0.114%
GBP/JPY 216.686
0.024%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 28th, during Meituans Q2 earnings call, CEO Wang Xing shared Meituans internationalization progress: "Keeta began trial operations in the Saudi market in September 2024, and achieved profitability in July of this year, taking only 22 months." He also stated that Keeta will focus on operations in existing markets in the second half of this year, paying attention to improving business operational efficiency. Meanwhile, he remains confident in the long-term potential of the Brazilian market.On August 28th, Allianz Chief Advisor El-Erian stated, "Federal Reserve Chairman Warsh is about to deliver his first Jackson Hole keynote address. At this crucial moment, he faces a delicate challenge: how to respond to the highly diverse expectations of the market and various sectors. On one hand, some hope he will continue the tradition of previous Fed chairs, providing forward-looking guidance while elaborating on the current policy response mechanism—how the Fed will make policy decisions in response to economic data and changing circumstances. On the other hand, others hope he will return to the original long-term strategic positioning of this unique meeting. This means focusing more on the increasing and more complex domestic economic and policy issues in the context of profound structural changes driven by technological innovation and geoeconomics. Balancing these two expectations is no easy task. This balance is not only difficult to maintain but also almost certain to satisfy everyone. Meanwhile, policy factors outside the Fed further increase the difficulty of decision-making. However, Warshs speech will undoubtedly provide an important window for the outside world to gain a deeper understanding of the new Fed chairs policy philosophy and leadership style. Personally, I hope his speech will focus more on long-term structural issues, especially given the significant disagreements within the FOMC."On August 28th, the Securities Association of China and the Asset Management Association of China, based on their previous practical experience and research findings, jointly drafted the "Securities Company Trading Information System Access Management Standards (Trial Implementation)". The Standards clarify that securities companies must conduct trading information system access in accordance with laws and regulations, provide system access services prudently, treat system access clients fairly, and refrain from providing differentiated arrangements for technical or business resources to specific access clients. The Standards emphasize the primary responsibility of securities companies for managing external system access, requiring them to conduct comprehensive and thorough management, fully verify investor qualifications, and fully validate relevant system functions. During the access process, securities companies must earnestly fulfill their management responsibilities, strictly adhere to existing securities market trading management regulations, strictly control risks, and ensure that system access remains compliant, secure, and stable at all times.On August 28, Chow Sang Sang (06168.HK) announced on the Hong Kong Stock Exchange that it achieved operating revenue of RMB 2.365 billion in the first half of 2026, a year-on-year decrease of 24.9%; net profit was RMB 388 million, a year-on-year decrease of 6.5%.Ukrainian Minister: Gas reserves are sufficient for winter.

EUR/USD Expects Fourth Weekly Gains Above 1.0900 Despite The US Dollar's Rebound Advance Ahead Of US NFP

Daniel Rogers

Apr 07, 2023 11:42

 EUR:USD.png

 

Despite a recent retreat, the EUR/USD bulls maintain control around 1.0920. This reflects the typical Good Friday inactivity and apprehension ahead of the US Nonfarm Payrolls (NFP) report released early in the day. The major currency pair was volatile on Thursday as a result of the US Dollar's initial rebound on fears of a recession, but ended the day unchanged as disappointing US data contrasted with stronger Eurozone data.

 

Fears of a recession in the world's largest economy were prompted by consecutive lackluster US data and falling US Treasury bond yields, giving USD bears a reprieve on Thursday morning. As traders prepared for the all-important NFP, the dollar's subsequent gains were reversed by another disappointing US employment report.

 

Despite this, US Initial Jobless Claims for the week ending March 31 rose to 228K from 200K anticipated and an upwardly revised 246K the prior week. Notable is the increase in Challenger Job Cuts from 77,77K to 89,703K in the given month.

 

Notably, Reuters fanned fears of a recession by citing the most recent decline in the preferred bond market indicator of Federal Reserve (Fed) Chairman Jerome Powell. The most reliable bond market indicator of an imminent economic contraction, according to Federal Reserve research, is the "near-term forward spread" between the forward rate on Treasury bills 18 months from now and the current yield on three-month Treasury bills.

 

According to Reuters, International Monetary Fund (IMF) Managing Director Kristalina Georgieva stated in prepared remarks on Thursday that the global economy is projected to expand by less than 3% in 2023, a decrease from 3.4% in 2022.

 

In other news, Germany's Industrial Production (IP) increased 0.6% year-over-year in February, versus market predictions of -2.7% and previous readings of -1.7%. Additionally, the monthly figures exceeded expectations by 0.1%, coming in at 2.0% compared to 3.7% previously. On Wednesday, Germany Factory Orders for February improved to -5.7% YoY from -12.0% previously revised down and -10.5% market expectations, while MoM growth came in at 4.8% compared to 0.3% expected and 0.5% previous readings.

 

Wall Street and US Treasury bond yields have both reduced weekly losses as a result of these strategies, but investors remain skeptical.

 

In the context of less liquidity surrounding the March US employment report, sporadic activity on the major markets can keep the EUR/USD inactive and prone to abrupt price swings. Notable is the fact that recent dovish Fed forecasts and disappointing US data generate expectations for a positive surprise and enormous price volatility thereafter.


Suggestion