EUR/USD 1.16020
-0.195%
Gold 4515.60
-0.617%
Oil 98.357
0.095%
USD/JPY 159.011
0.057%
GBP/USD 1.34207
-0.105%
GBP/JPY 213.410
-0.044%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 21, Goldman Sachs issued a research report stating that Alibaba (09988.HK)s (the first day of the Alibaba Cloud Summit in Hangzhou, coupled with the Chairman and CEOs letter to shareholders released on the same day, indicates that the group is entering a new phase of significant investment in the era of AI agents. Management emphasized that the industry is at a critical turning point in the development of Artificial General Intelligence (AGI), with a large number of AI agents driven by model-generated tokens taking on a larger share of work and becoming the main interface between humans and the digital world. The bank believes that a portfolio of AI agent products can support Alibabas recently announced annual recurring revenue (ARR) targets for MaaS, reaching RMB 10 billion in the June quarter and RMB 30 billion by the end of fiscal year 2027. Goldman Sachs believes that Alibabas current valuation does not fully reflect its comprehensive AI layout and international cloud potential, and expects the group to increase its investment in AI enterprises and the consumer sector in the next 12 to 24 months, while achieving double-digit profit growth. The bank maintains its buy rating on Alibaba and places it on its Asia Pacific conviction buy list, with a 12-month target price of HKD 180.Germanys May composite PMI preliminary reading was 48.6, below the expected 48.4 and the previous reading of 48.4.Germanys preliminary manufacturing PMI for May was 49.9, below the expected 51 and the previous reading of 51.4.Germanys preliminary services PMI for May was 47.8, in line with expectations of 47 and the previous reading of 46.9.On May 21, the General Administration of Customs held a briefing to interpret the recently issued "Several Measures on Promoting the Expansion and Quality Improvement of Comprehensive Bonded Zones" and invited relevant enterprises to exchange and explain their policies. The meeting noted that by 2025, comprehensive bonded zones will achieve an import and export value of 7.2 trillion yuan, a year-on-year increase of 8.2%, accounting for 15.9% of the national total. From January to April this year, the import and export value reached 2.7 trillion yuan, a year-on-year increase of 25.2%, accounting for 16.8% of the national total. With only 0.05% of the countrys land area, these zones contribute one-sixth of the nations foreign trade import and export value, becoming an important platform for serving my countrys foreign trade development.

The EUR/USD rise is getting close to 1.0200 as investors await US inflation data

Daniel Rogers

Aug 09, 2022 14:58

 截屏2022-08-09 上午10.12.13.png

 

The EUR/USD moves in the 1.0200 range during Tuesday's Asian session after falling from 1.0221 as traders look for fresh data. The major currency pair gained over the first part of the week but lost some of those gains by Monday's close. Recent price fluctuations, however, seem to be constrained by a lack of noteworthy data or events and a cautious attitude ahead of Wednesday's release of the US Consumer Price Index (CPI) for July.

 

Gains in the EUR/USD the day before are shown by higher readings of the Eurozone Sentix Investor Confidence Index and a drop in US Treasury yields. The primary sentiment indicator Index, however, increased in August from -26.4 to -25.2, which was projected to be the value. According to specifics, the eurozone's present state has improved from this month's lowest position since March 2021, when it was -16.5, to -16.3. The expectations index is at its lowest level since December 2008, despite a little increase to -33.8. It is still very close to that level. The US Dollar Index (DXY), in contrast, saw a daily decrease of 0.19 percent to 106.37.

 

The moderate Azione's resignation from the newly formed alliance ahead of the September elections looks to have put negative pressure on the Euro elsewhere due to Italian political worries.

 

The moderate Azione has backed out of its coalition with the Democratic Party and the +Europe party after only agreeing to do so last week. According to party leader Carlo Calendar, "the parts didn't fit." According to Reuters and Market News Publishing US, the alliance was formed in an effort to stop a more conservative government from taking office after the election on September 25.

 

Notably, gains in the EUR/USD the day before appeared to have been constrained by US President Joe Biden's displeasure of China's efforts to retake Taiwan and his censure of House Speaker Nancy Pelosi's trip to Taipei.

 

These actions caused the 10-year US Treasury rates, which had increased by 14 basis points (bps) the day before, to fall by around seven basis points (bps) to 2.75 percent. Wall Street also started Monday's trading day on a positive one before ending on a mixed note, albeit as of press time, S&P 500 Futures are showing minor gains.

 

Participants in the EUR/USD market may be interested in the second quarter's (Q2) US Nonfarm Productivity and Unit Labor Costs data. Forecasts suggest that US Nonfarm Productivity may rise to -4.6% from -7.3%, while Unit Labor Costs may decrease to 9.5% from 12.6%. The news regarding Taiwan and Russia will also be important for determining direction.


Suggestion