EUR/USD 1.17364
-0.094%
Gold 4322.60
-0.383%
Oil 57.646
-0.341%
USD/JPY 156.552
0.084%
GBP/USD 1.34600
-0.056%
GBP/JPY 210.723
0.032%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On December 31st, renowned investor and "big short" Michael Burry denied shorting Tesla stock, despite earlier this month calling the company "outrageously overvalued." Responding to a social media users question about whether he would short Tesla, Burry stated, "I am not shorting." The well-known investor rose to fame for predicting the collapse of the US housing market before the 2008 financial crisis. Teslas stock price has staged a remarkable reversal after falling in April following market concerns triggered by Elon Musks political posturing, and has now risen to near all-time highs. Burrys comments came after Tesla took the unusual step of Monday by releasing a series of sales forecasts suggesting its vehicle delivery prospects may be lower than many investors expected. Tesla is set to see its second consecutive year of declining annual vehicle sales, with the companys average forecast showing deliveries of approximately 1.6 million vehicles this year, a decrease of more than 8% from the previous year.December 31st - HarmonyOS Intelligent Mobilitys annual mobility report was released today. According to the report, HarmonyOS Intelligent Mobilitys assisted driving user activity rate reached 98% in 2025, with a total assisted driving mileage of 4.36 billion kilometers throughout the year, and a cumulative total of 3.003 million potential collision avoidances to date.On December 31, the National Development and Reform Commission and another department issued guiding opinions on promoting high-quality development of the power grid. The opinions propose that by 2030, a new type of power grid platform, with the main grid and distribution network as important foundations and smart microgrids as a beneficial supplement, will be initially established. The main grid, distribution network, and microgrids will form an organic whole with clear interfaces, complete functions, intelligent operation, and efficient interaction. The power grids ability to optimize resource allocation will be effectively enhanced. The scale of "West-to-East Power Transmission" will exceed 420 million kilowatts, with an additional inter-provincial power exchange capacity of approximately 40 million kilowatts. The proportion of renewable energy generation will reach approximately 30%, the capacity to accommodate distributed renewable energy will reach 900 million kilowatts, and support will exceed 40 million charging infrastructure units. The fundamental role of the public power grid will be fully played, smart microgrids will develop in a diversified manner, the power system will maintain stable operation, and services for peoples electricity needs will be more effectively provided.On December 31, Foreign Ministry Spokesperson Lin Jian held a regular press conference. Lin Jian stated that these countries and institutions have turned a deaf ear to the "Taiwan independence" separatist forces attempts to seek independence through force, and have turned a blind eye to external interference in Chinas internal affairs. Yet, they have made unwarranted comments, distorted the truth, and confused right and wrong regarding Chinas necessary and just actions to defend national sovereignty and territorial integrity. This is extremely hypocritical. China firmly opposes this and has lodged a strong protest. Taiwan is an inseparable part of Chinas territory, and the Taiwan issue is purely Chinas internal affair, which brooks no interference from any external forces.On December 31, a spokesperson for the Ministry of Commerce, in response to a reporters question regarding the safeguard measures on imported beef, stated that these measures are intended to help domestic industries overcome difficulties in the short term, not to restrict normal beef trade. The Chinese market remains open, and there is broad scope for cooperation in beef trade with our trading partners. China is willing to work with all parties to maintain a healthy and stable international trade environment.

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