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According to Nikkei: Japan and the European Union have drawn up an agreement on a satellite network plan.Slovak Prime Minister: We aim to reach an agreement with EU partners on stopping Russian gas supplies and sanctions package by Tuesday.July 12, Anthony Saglimbene, chief market strategist at Ameriprise Financial, said that as the US government reaches an agreement with trading partners such as Japan and South Korea in the coming weeks, most investors seem to expect the United States to avoid raising tariffs. "This is the expectation that the market has formed," Saglimbene said. "If we dont get such an outcome, then I think if the White House does implement some aggressive tariff measures, the market volatility in the short term may increase."Ukraine said Russia launched 623 drones and missiles during the night.July 12, according to a report by the Wall Street Journal on the 11th, US President Trump hinted that if Iran seeks to develop nuclear weapons, he will support Israel in launching a new round of strikes against Iran. According to reports, Israeli Prime Minister Netanyahu recently privately informed Trump that if Iran resumes the development of nuclear weapons, Israel will launch further military strikes against Iran. Trump responded that he was inclined to reach a diplomatic settlement with Iran, that is, to reach an agreement on the nuclear issue, but he did not oppose Israels plan. The report also stated that a senior Israeli official revealed that Israel would not necessarily seek explicit approval from the United States on the issue of resuming strikes against Iran. However, considering that the United States seeks to maintain diplomatic ties with Iran, Israel may also face resistance from the United States.

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.