EUR/USD 1.13866
-0.316%
Gold 3980.09
-0.908%
Oil 70.026
-0.354%
USD/JPY 162.256
0.200%
GBP/USD 1.32283
-0.220%
GBP/JPY 214.640
-0.013%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Shares of Want Want China Holdings Limited (00151.HK) fell more than 10% in the afternoon. The company announced at midday that for the year ended March 31, 2026, revenue increased by 3.8% to RMB 24.401 billion, while net profit fell by 11.5% year-on-year. The company proposed a final dividend of US cents per share.On June 30th, the National Energy Administration held a meeting in Hangzhou, Zhejiang Province, to exchange experiences on improving the level of "Getting Electricity" services. The meeting pointed out that, thanks to the joint efforts of all parties, my countrys "Getting Electricity" reform has achieved remarkable results during the 14th Five-Year Plan period. Historical breakthroughs have been made in power supply services, institutional systems, international benchmarking, and regulatory governance. A number of long-standing bottlenecks and difficulties in accessing electricity services have been effectively addressed, and shortcomings in urban and rural power supply services have been improved. This has become an important area of advantage for my country in optimizing its business environment. The meeting required that targeted policies and concerted efforts be made to address key challenges, focusing on the needs of economic development, energy transition, and the expectations of the people, using breakthroughs in key areas to drive overall improvement. It also stressed the need to uphold a correct view of performance, establish a pragmatic orientation, and achieve tangible results in promoting benchmark demonstration and guidance, serving and supporting industrial upgrading, and solving the electricity problems of the public. Finally, it emphasized the need to solidify the responsibilities of all parties, build a working pattern that is interconnected from top to bottom, coordinated horizontally, and linked internally and externally, and ensure that all policy deployments are implemented effectively.Hong Kong-listed IPO Zhen Health Medical (02697.HK) surged again in the afternoon, rising more than 210% to a high of HK$393.2.According to a survey by the think tank OMFIF, central banks plan to increase their euro holdings, but 60% of the central banks surveyed have not invested in euros due to concerns about lower returns.According to a survey by the think tank OMFIF, two-thirds of central banks plan to promote the application of AI in the next one to two years.

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