EUR/USD 1.15941
-0.146%
Gold 4335.89
0.450%
Oil 96.250
-4.255%
USD/JPY 154.023
-0.254%
GBP/USD 1.35071
-0.027%
GBP/JPY 208.045
-0.283%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 11th, Apple unveiled its first foldable phone, the iPhone Duo, at its fall product launch event. Despite being more than a month away from official release, the iPhone Duo is already experiencing demand for pre-orders and proxy purchases, with some retailers offering high prices in advance. According to the Dewu App, pre-orders for the iPhone Duo have already been completed, with the final price reaching 39,999 yuan, 24,000 yuan higher than the official starting price of 15,999 yuan, representing an increase of approximately 150%. Meanwhile, some retailers on the platform are already offering prices as high as 59,999 yuan, 44,000 yuan higher than the official starting price.On September 11, Premier Li Qiang chaired an executive meeting of the State Council. The meeting emphasized the need to adhere to a rational and orderly approach, further improve computing infrastructure, actively promote the research and application of key technologies and equipment, and build a multi-layered networked computing system. It also stressed the importance of promoting the synergy between computing and power, and the integration of computing and networks. This includes strengthening the monitoring and scheduling of computing resources and the construction of backbone fiber optic networks, enhancing the planning and coordination of computing and power facilities, and accelerating the implementation of projects such as direct green electricity connections and power generation-grid-load-storage systems. Finally, the meeting called for support for enterprises in carrying out technological innovation, resource integration, and application promotion to better match supply and demand.German union representative: German workers should not be made to bear the cost of US tariff policies.On September 11, a spokesperson for the Ministry of Commerce stated that the US actions were an attempt to suppress and smear China. The US claim that China is a "dual threat" militarily and economically is a completely fabricated and malicious slander. Chinas technological breakthroughs in fields such as artificial intelligence, semiconductors, and biotechnology are the result of the hard work of Chinese researchers and enterprises, and are by no means prey for US intelligence agencies to covet. The USs actions are essentially driven by anxiety about Chinas technological progress, but espionage and hegemonic suppression cannot stop the innovative progress of Chinese enterprises, nor can they bring true technological leadership. The USs blatant espionage tactics are doomed to failure.According to CCTV: Li Qiang chaired an executive meeting of the State Council, which pointed out that it is necessary to focus on changes in the school-age population to rationally allocate educational resources and make overall arrangements for the supply of school places, teacher allocation, and funding.

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