EUR/USD 1.16944
-0.034%
Gold 4769.21
0.079%
Oil 91.378
-0.606%
USD/JPY 159.130
0.098%
GBP/USD 1.34246
-0.077%
GBP/JPY 213.630
0.039%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The yield on five-year Japanese government bonds rose 2.5 basis points to 1.850%.On April 10th, it was reported that AliExpress, Alibabas cross-border e-commerce platform, is preparing to hold a closed-door brand summit in Shenzhen on April 15th. The summit is strictly by invitation only to leading brands, and open registration is not accepted. 99 brands, including Xiaomi and Dreame, have been invited, and invitations have been disbursed. It is understood that half of the speakers are from overseas, and the combined overseas sales of the attending brands exceed one trillion yuan.On April 10th, reports surfaced that Amazon would begin a new round of layoffs in May, with an estimated 14,000 jobs affected, primarily in core business units including AWS, retail, and human resources. Some teams in China were even rumored to be completely eliminated. On April 10th, Amazon stated that these reports were untrue.On April 10th, Bank of America Securities issued a report stating that Innoscience (02577.HK) management indicated in the analyst briefing following the 2025 fiscal year results that downstream demand is expected to be strong in 2026 due to the increasing penetration rate of gallium nitride (GaN) in various end markets. Management projects total revenue for fiscal year 2026 to reach RMB 2 billion to 2.5 billion, representing year-on-year growth of 65% to 106%, with gross margin potentially further improving to over 15%. The bank reiterated its buy rating on Innoscience, but lowered its target price from HKD 108 to HKD 92. Bank of America stated that due to a more conservative gross margin forecast, it lowered its adjusted net profit forecasts for Innoscience for 2026 and 2027, but raised its revenue forecasts by 3% to 4% for the same period.On April 10th, Thai Finance Minister Ekniti Nitithanprapas stated that due to the Middle East conflict, Thailand expects oil prices to remain high for up to two years, foreshadowing sustained pressure on this net energy importer already grappling with rising costs and slowing growth. Speaking to lawmakers during a parliamentary debate following a government policy statement, Ekniti noted that energy infrastructure in the Middle East has been severely damaged, and oil and gas supplies could take one to two years to stabilize. He added that the government plans to accelerate the adoption of solar, biofuels, and other renewable energy sources to cushion the impact of high energy costs on households and businesses. The energy shock has already affected the economic outlook. Economists have begun to lower their growth forecasts for Thailand as rising fuel costs have dampened consumption and disrupted exports and tourism—two core drivers of the Thai economy.

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