EUR/USD 1.16448
-0.058%
Gold 4581.75
-0.432%
Oil 82.325
-0.769%
USD/JPY 159.520
0.082%
GBP/USD 1.35909
-0.011%
GBP/JPY 216.790
0.072%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 28th, European Central Bank (ECB) Governing Council member Kazzaks stated that the ECB cannot allow consumer prices to continue rising. He said, "We cannot allow inflation to become entrenched. One way to curb the spread of inflation is to raise interest rates. Weve already done that once." The market expects the ECB to raise interest rates at its September meeting. The ECB raised rates in June but held them steady in July. New economic forecasts will be released at that time, providing a basis for interest rate decisions, while the ongoing Middle East wars are prompting the ECB to reconsider raising rates. "Well see what happens next month," Kazzaks said, "but for now, I think the possibility of a rate hike is quite high."On August 28, the Political Bureau of the CPC Central Committee held a meeting to study and deploy emergency rescue and relief work for the mudslide disaster in Gyirong County, Shigatse City, Tibet. Xi Jinping, General Secretary of the CPC Central Committee, presided over the meeting.On August 28th, Henan Jingrun Wanxiang Real Estate Development Co., Ltd. won the bid for Zhengzheng Gaochu [2026] No. 14 (online) for 1.119 billion yuan. The plot is located north of Fengyang Street and west of Xuesong Road in Zhengzhou High-tech Zone, surrounded by Zhengzhou University and Zhengzhou Foreign Language School. The land use right area is 53,799.20 square meters (approximately 80.7 acres), designated for urban residential use, with a starting price of 691 million yuan. Based on this, the transaction price represents a premium of 61.97%. The winning bidder, Henan Jingrun Wanxiang Real Estate Development Co., Ltd., is a subsidiary of China Resources Land Holdings Co., Ltd.British Chancellor of the Exchequer Healy: The top priority is to uphold fiscal discipline, which is the cornerstone of economic stability.The China Earthquake Networks Center officially reported that a 5.1-magnitude earthquake occurred in Longchang City, Neijiang City, Sichuan Province at 13:13 on August 28, with a focal depth of 13 kilometers.

Markets Gripped by Recession Fears, US CPI in Focus

Skylar Shaw

Jul 13, 2022 16:21

微信截图_20220713161529.png


Tuesday saw a sea of red on the Asian stock market as risk appetite was stifled by concerns about the recession and a resurgent Covid-19 outbreak in China.

 

Prior to the US inflation data and earnings season, Wall Street's major indexes suffered overnight as investors fled to safety. Europe's energy crisis and increased caution in front of important economic data and bank profits are anticipated to cause markets to start lower there.


The dollar index (DXY) reached its greatest levels since 2002 in the currency markets, flexing its safe-haven capabilities. In the meanwhile, prices reached 1.0004 for the first time since December 2002 this morning, bringing the EUR/USD parity fantasy that much closer to reality. When it comes to commodities, gold is still down and unpopular, while demand worries have caused oil prices to decline.


The unease and gloom that permeate the financial markets may drive up the dollar more while driving down stock prices. The next US CPI data on Wednesday may cause a commotion since markets are still very volatile and sensitive to anything related to inflation.


Consumer confidence in Australia fell for the eighth consecutive month in July according to statistics.


Amid rising inflation, impending rises, and global unease, business confidence also fell short of expectations. Later this morning, the ZEW economic confidence poll for Germany will be released. A negative assessment might exacerbate the euro's problems and further devalue the single currency.

The US inflation data is what's important.


Investors are eagerly awaiting the publication of the US inflation data on Wednesday to see if prices are increasing once again or whether we have reached a high. Inflation is predicted to increase 8.8 percent year-over-year in June compared to 8.6 percent in May, according to a Bloomberg survey.

If predictions come true, consumer prices will have risen at the quickest rate since December 1981 when they increased by 8.9 percent. Such a scenario is likely to support market predictions of more aggressive Fed rate rises and eventually give dollar bulls new energy.


On Thursday, it could be a good idea to pay attention to the weekly unemployment claims report in addition to the US inflation statistics. There will also be a flurry of important announcements at the end of the week, including the most recent retail sales, industrial output, and consumer sentiment, all of which will shed light on the state of the US economy.

Suggestion