EUR/USD 1.18153
0.158%
Gold 5263.32
1.523%
Oil 67.175
2.731%
USD/JPY 156.171
0.028%
GBP/USD 1.34769
-0.043%
GBP/JPY 210.475
-0.006%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
March 1st - On March 1st local time, Iran released footage showing the successful strike of a US MQ-9 drone. The Public Relations Department of the Iranian Islamic Revolutionary Guard Corps announced on the same day that the Revolutionary Guards air defense system, using an integrated air defense network controlled by the system in southern Iran, locked onto and destroyed a US military MQ-9 drone. The MQ-9 is the first attack drone designed specifically for long-range high-altitude surveillance.March 1st - Ole Hansen, Head of Commodity Strategy at Saxo Bank: Theres no doubt that the US-Israeli military action against Iran is a worrying escalation that will prompt investors to flock to the precious metals and energy sectors. How significant the impact will be is anyones guess, but given last weeks momentum, I wouldnt be surprised if gold hits a new all-time high.Amazon Web Services (AWS): We expect recovery to take several hours.March 1st - KCM Trade Chief Market Analyst Tim Waterer stated that gold demand is likely to be higher than usual when markets open on Monday. Given risks such as the potential duration of the conflict, which other countries might be drawn in, and inflation concerns, gold is expected to regain its role as the preferred safe-haven asset. With stocks and other risky assets potentially facing sell-offs, investors will be looking for optimal cash reserves, and gold is likely to be at the top of that list.The UAE Ministry of Defense has responded to two Iranian drones launched at the Abu Dhabi Salam military base, with no casualties reported.

The AUD/USD has dropped from its monthly high at 0.6990 due to poor Australian PMIs and a rebound in the DXY

Alina Haynes

Jul 22, 2022 14:50

 截屏2022-07-22 上午10.06.52.png

 

After retesting the monthly high earlier in the day, the AUD/USD continued to slide in Friday's Asian trading. It drops back down to where it started the day, at 0.6916. Recent declines in the Aussie pair may be attributable to the poor prints of Australia's flash readings of S&P Global PMIs for July. The resurgence of the US dollar in the face of pessimistic attitude also affects the pair.

 

S&P Global Manufacturing PMI for Australia dropped to 55.7 in July from 56.2 in June and the 56.4 forecast. Additionally, the S&P Global Services PMI dropped to 50.4 during the mentioned month, which was below the 55.0 consensus and the 52.6 readings seen previously. Moreover, the S&P Global Composite PMI has dropped from 52.6 in prior readings to 50.6 today.

 

Conversely, as risk aversion returns to the market, the US Dollar Index (DXY) is gaining bids and is on track to revisit its intraday high at 106.70, up 0.12% on the day. It's worth remembering that the DXY dropped the day before because it was pegged to US Treasury rates, and that the benchmark 10-year bond coupons had their worst daily loss since mid-June.

 

The yield drop might be the result of a number of factors, including the European Central Bank's (ECB) surprise rate hike of 50 basis points (bps) and the implementation of a new tool known as the Transmission Protection Instrument (TPI) to manage irrational market dynamics in the area.

 

Additionally, the Nord Stream 1 pipeline from Russia restarting its gas exports to Europe boosted market sentiment and aided AUD/USD purchasers the day before.

 

In light of this, Wall Street benchmarks ended the day stronger and the 10-year Treasury rates for the US Treasury had their greatest daily decline in five weeks. However, as of the time of publication, S&P 500 Futures are down 0.50 percent.

 

The ECB's decision to limit the market's confidence as well as long-standing worries about a recession and COVID are the sources of the most recent dip in mood.

 

Nevertheless, the risk-off attitude may affect the AUD/USD pricing going ahead. However, pessimistic predictions for the US PMIs in July give purchasers reason for optimism.


Suggestion