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January 5th - The Chinese new energy passenger vehicle market is projected to grow by around 25% in 2025, successfully achieving the growth expectations for the new energy vehicle market during the 14th Five-Year Plan period. With the expiration of the purchase tax exemption policy for new energy vehicles at the end of the year, the car market entered a year-end rush in December. However, due to adjustments in the car trade-in policy, market trends showed significant divergence. According to preliminary monthly data from the China Passenger Car Association (CPCA), from December 1st to 31st, national passenger car manufacturers wholesaled 1.57 million new energy vehicles, a year-on-year increase of 4% and a month-on-month decrease of 8%. The cumulative wholesale volume of new energy passenger vehicles in 2025 is projected to reach 15.33 million units, a year-on-year increase of 25%.January 5th - According to an announcement from Hengrui Medicine, its subsidiary, Fujian Shengdi Pharmaceutical Co., Ltd., recently received the "Drug Clinical Trial Approval Notice" issued by the National Medical Products Administration for HRS9531 Injection and HRS-5817 Injection, and will soon commence clinical trials.On January 5th, Jingwei Hengrun responded on its interactive platform, stating that its SiC power modules are nearing mass production. The power modules currently under development are primarily designed for the needs of new energy vehicle motor controllers and are not directly designed for data center applications. However, they can be expanded through the platform to achieve adaptation for efficient data center applications.According to the China Passenger Car Association, Tesla (TSLA.O) sold 97,171 domestically produced vehicles in the Chinese market in December 2025.On January 5th, Boway Alloy responded on its interactive platform, stating that the companys new energy business R&D team is continuously developing new products and technologies, including HJT and perovskite technology, but currently has no space photovoltaic technology reserves.

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

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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.


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