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On September 15th, data from the National Bureau of Statistics showed that in August, the year-on-year decline in new residential property prices in first-tier cities was 0.9%, a decrease of 0.2 percentage points compared to the previous month. Specifically, prices in Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai saw an increase of 3.0%. In second- and third-tier cities, the year-on-year declines in new residential property prices were 2.7% and 4.1% respectively, both narrowing by 0.1 percentage points. In August, the year-on-year decline in existing residential property prices in first-tier cities was 2.7%, a decrease of 1.0 percentage point compared to the previous month. Specifically, prices in Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. In second- and third-tier cities, the year-on-year declines in existing residential property prices were 4.9% and 5.6% respectively, both narrowing by 0.2 percentage points.New Residential Housing Prices: 1. Beijing: August new residential housing prices -0.2% month-on-month (previous value -0.3%), -2.3% year-on-year (previous value -2.3%). 2. Shanghai: August new residential housing prices +0.4% month-on-month (previous value +0.2%), +3.0% year-on-year (previous value +3.0%). 3. Guangzhou: August new residential housing prices +0.1% month-on-month (previous value +0.1%), -1.9% year-on-year (previous value -2.2%). 4. Shenzhen: August new residential housing prices +0.2% month-on-month (previous value +0.2%), -2.3% year-on-year (previous value -2.9%). Second-hand Residential Housing Prices: 1. Beijing: August second-hand residential housing prices -0.1% month-on-month (previous value 0.0%), -3.5% year-on-year (previous value -4.5%). 2. Shanghais existing home prices in August increased by 0.3% month-on-month (previous value +0.3%) and decreased by 0.8% year-on-year (previous value -2.0%). 3. Guangzhous existing home prices in August remained unchanged month-on-month (previous value +0.4%) and decreased by 3.8% year-on-year (previous value -4.7%). 4. Shenzhens existing home prices in August increased by 0.1% month-on-month (previous value +0.2%) and decreased by 2.7% year-on-year (previous value -3.6%).National Bureau of Statistics: Beijings second-hand housing prices in August decreased by 0.1% month-on-month (previous value +0%) and decreased by 3.5% year-on-year (previous value -4.5%).According to the National Bureau of Statistics, the price of second-hand residential properties in Shenzhen rose 0.1% month-on-month in August (up 0.2% in the previous month) and fell 2.7% year-on-year (down 3.6% in the previous month).September 15th - The 2026 China Carbon Market Conference was held in Wuhan, Hubei Province this morning, and the "National Carbon Market Development Report (2026)" was released at the conference. Reporters learned that as of the end of August, the national carbon emission trading market had accumulated transactions exceeding 900 million tons, with a transaction value exceeding 60 billion yuan. The national carbon market has grown from nothing to a significant stage, playing a crucial role in promoting the achievement of carbon peaking and carbon neutrality goals.

The EUR/USD exchange rate fluctuates below 1.0850 as focus shifts to US PPI and Retail Sales data

Alina Haynes

Jan 16, 2023 10:59

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As U.S. markets are closed on Monday in honor of Martin Luther King Jr.'s birthday, the EUR/USD pair is attempting to establish a trend. As investors anticipate the release of Producer Price Index (PPI) and Retail Sales data from the United States, the main currency pair is trading below 1.0840.

 

S&P500 futures had some selling pressure early in the Asian session, but have since recovered their losses and turned positive, signaling an improvement in risk appetite on the market. Under the influence of a positive market mentality, the US Dollar Index (DXY) is attempting to break below the immediate support level of 101.75.

 

The U.S. Consumer Price Index (CPI) slowed in December, bolstering the case for the Federal Reserve (Fed) to announce a smaller interest rate increase in the near future. As the Fed seeks to end policy tightening, the USD Index may continue its downward trend for an extended period of time in the future.

 

According to analysts at Wells Fargo, the conclusion of monetary tightening should put an end to the dollar's advances by early 2023. In fact, we believe the trade-weighted dollar has already reached its cyclical peak." Once the Fed begins reducing its policy interest rate at the beginning of the following year, they anticipate an even more pronounced USD depreciation in 2024.

 

On Wednesday, investors will focus on the release of US Producer Price Index (PPI) data. The street anticipated a decline as a result of the decline in gasoline prices, which has enabled manufacturers to drop prices at factory gates as a result of reduced production costs. In addition, price reductions will counteract a decline in retail demand. Additionally, Retail Sales figures will be extensively examined.

 

Meanwhile, Eurozone investors are pleased that Germany's preliminary Gross Domestic Product (GDP) expanded 1.9% on an annualized rate in 2022, compared to the market consensus of 1.8% and the previous release of 2.5%.

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