EUR/USD 1.14171

USD/JPY 162.484

GBP/USD 1.34397

GBP/JPY 218.379

English
简体中文
繁體中文
Tiếng Việt
ไทย
Indonesia

Subscribe

Real-time News

On July 21, Jiang Lue, spokesperson for the China Coast Guard, stated that on the morning of July 21, out of humanitarian considerations, China allowed the Philippines to transfer injured personnel from the Philippine Coast Guard vessel No. 57, which was illegally grounded on Renai Reef, to the Philippine Coast Guard vessel No. 9702 via a ship-borne small boat. The Chinese Coast Guard questioned and confirmed the Philippine vessel and monitored the entire process. The Chinese Coast Guard will continue to carry out law enforcement activities in accordance with the law in Renai Reef and its surrounding waters to safeguard national territorial sovereignty and maritime rights.July 21 – The Japanese government has finally approved an annual economic and fiscal policy plan that emphasizes the independence of the Bank of Japan, but has yet to address the high cost of a significant reduction in the food sales tax. The Cabinet approved the plan on Tuesday, noting in a footnote that specific monetary policy tools will be the responsibility of the Bank of Japan, and its autonomy must be respected. This is a key addition to the original draft released on June 30. The plan does not include Prime Minister Sanae Takaichis commitment to suspend the food sales tax, a proposal that has raised concerns about how the government will raise funds without exacerbating its fiscal situation. The document states that the government will finalize the relevant policies in early August.The yield on Japans 30-year government bonds rose 3.0 basis points to 3.90%.On July 21, Horizon Robotics (09660.HK) announced that it expects its profit for the first half of 2026 to be between RMB 3.5 billion and RMB 4 billion, compared to a loss of RMB 5.233 billion in the same period last year, representing a turnaround from loss to profit. The Group anticipates an increase in revenue from continuing operations for the six months ended June 30, 2026, primarily driven by the combined performance of its two main revenue segments. The increase in revenue from product solutions is mainly attributed to the Companys continued strengthening of its market position and steady increase in market share, as well as the commencement of large-scale mass production deployment of its all-scenario urban NOA solution (HSD).U.S. stock index futures strengthened, with Nasdaq futures up more than 1%, Dow Jones futures up 0.27%, and S&P 500 futures up 0.4%.

NZD/USD finds support near 0.6220; a decline appears more probable due to China's Covid concerns

Alina Haynes

Nov 28, 2022 15:04

截屏2022-11-28 上午10.39.08.png

China's anti-Covid shutdown protests have weakened commodity-linked currencies, resulting in a gap-down start of roughly 0.6220 for the NZD/USD pair. During the previous week, the New Zealand dollar dropped after failing to surpass the round-level barrier of 0.6300.

Individuals have taken to the streets in China to demonstrate their opposition against the zero-tolerance policy, leading to a rise in civil unrest. Due to Chinese leader Xi Jinping's conservative posture and authoritarian framework, global markets have become more risk-averse. This has created an economic expansion risk and may worsen the already shaky housing market. Increasing apprehensions about societal risks may also result in political instability, which may have long-lasting detrimental effects on economic structure.

Notably, New Zealand is one of China's most important trading partners, and instability in China could damage the New Zealand Dollar.

In the meantime, the US Dollar Index (DXY) is profiting from investors' liquidity as the demand for safe-haven assets surges. The USD Index is hovering around 106.20 and attempting to reduce volatility as China's anti-locking protests restrict the upside and predictions of a slowdown in the Federal Reserve's larger rate hike cycle limit the downside (Fed).

S&P500 futures are under heavy pressure from market players due to a risk-averse market mentality. In anticipation of Fed chief Jerome Powell's address on Wednesday, yields on 10-year US Treasuries have decreased to approximately 3.68 percent. The Fed Chair's speech could dispel suspicions about a pause to the Fed's current rate-hiking program.