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On May 19, Xiaomi announced today that it will hold a Xiaomi strategic new product launch conference at 7 pm on May 22. At that time, Xiaomi will launch the new mobile phone SoC chip Xuanjie O1, the new flagship Xiaomi 15S Pro and Xiaomi Tablet 7 Ultra, as well as the new Xiaomi YU7, Xiaomis first SUV.On May 19, by the location of business units, in April, the retail sales of consumer goods in urban areas was 3237.6 billion yuan, a year-on-year increase of 5.2%; the retail sales of consumer goods in rural areas was 479.8 billion yuan, an increase of 4.7%. From January to April, the retail sales of consumer goods in urban areas was 14043.3 billion yuan, an increase of 4.7%; the retail sales of consumer goods in rural areas was 2141.2 billion yuan, an increase of 4.8%. By consumption type, in April, the retail sales of goods was 3300.7 billion yuan, a year-on-year increase of 5.1%; catering revenue was 416.7 billion yuan, an increase of 5.2%. From January to April, the retail sales of goods was 14365.1 billion yuan, an increase of 4.7%; catering revenue was 1819.4 billion yuan, an increase of 4.8%. By retail formats, from January to April, the retail sales of convenience stores, specialty stores, supermarkets, department stores and brand stores in retail units above the limit increased by 9.1%, 6.4%, 5.2%, 1.7% and 1.4% year-on-year respectively.On May 19, from January to April, the sales area of new commercial housing was 282.62 million square meters, a year-on-year decrease of 2.8%, and the decline was narrowed by 0.2 percentage points compared with January to March; among them, the sales area of residential housing decreased by 2.1%. The sales of new commercial housing was 2703.5 billion yuan, a decrease of 3.2%; among them, the sales of residential housing decreased by 1.9%. At the end of April, the area of commercial housing for sale was 781.42 million square meters, a decrease of 5.22 million square meters from the end of March. Among them, the area of residential housing for sale decreased by 4.55 million square meters.According to May 19th news, in April, the total retail sales of consumer goods reached 3717.4 billion yuan, a year-on-year increase of 5.1%. Among them, the retail sales of consumer goods other than automobiles reached 3354.8 billion yuan, an increase of 5.6%. From January to April, the total retail sales of consumer goods reached 16184.5 billion yuan, an increase of 4.7%. Among them, the retail sales of consumer goods other than automobiles reached 14700.5 billion yuan, an increase of 5.2%.Preview: The National Development and Reform Commission is scheduled to hold a May press conference at 10:00 a.m. on May 20 in the conference room on the third floor of the central building of the National Development and Reform Commission.

Near 1.0300, EURUSD attempts a recovery as hawkish ECB bets surge

Daniel Rogers

Nov 21, 2022 11:51

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After sliding to around the critical support level of 1.0310 during the early Asian session, there has been some buying action in the EURUSD pair. The asset has detected buying activity after hitting Friday's low and may seek to risk sentiment for more movement. There is now no pressure on the risk profile, which will likely provide future support for risk-perceived currencies.

 

The likelihood of the Federal Reserve (Fed) raising interest rates by 75 basis points (bps) in a row is insufficient for the S&P 500 to post outstanding gains on Friday (Fed). While market participants continue to be concerned about the headline inflation rate of 7.7%, the underlying inflation rate has moderated. According to Reuters, Fed Bank of Boston President Susan Collins stated this week that the US central bank has more work to do to reduce inflation. "Additional increases in the federal funds rate will be required, followed by an extended period of keeping rates at an appropriately restrictive level," he added.

 

In the meantime, the US dollar index (DXY) has hit resistance near the round level of 107.00 and is expected to remain volatile before to the release of US Durable Goods Orders data. The economic data are projected to remain constant at 0.4%, according to predictions.

 

Durability in the Durable Goods Orders figures amid a period of rising interest rates could present Federal Reserve Chair Jerome Powell with new challenges. To counteract inflation, the Fed has sought to maintain a modest overall demand profile. This also shows that people are turning to higher-interest borrowing to satisfy their desire for durable goods.

 

Christine Lagarde, president of the European Central Bank (ECB), indicated at the European Banking Congress that the ECB is committed to decreasing medium-term inflation to 2% by increasing interest rates in a timely manner. She underlined that a recession is unlikely to cut inflation significantly.