• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 20, Moscow Mayor Sergei Sobyanin reported that 450 Ukrainian military drones had been repelled when approaching the city since September 19. One facility near a Moscow oil refinery was damaged, and one residential building was hit; no casualties were reported. Separately, Moscow Oblast Governor Sergei Vorobyov reported that between 3:00 AM and 5:00 AM on September 20, 249 drones were shot down or suppressed in 17 districts. A fire broke out on the roof of a high-rise residential building in the Ramenskoye district, leading to the evacuation of 400 people and damage to 20 vehicles. In other areas, a warehouse complex caught fire, damaging several residential and commercial buildings. Two people were killed and six injured in the oblast.September 20th – The 2026 World Manufacturing Convention opened in Hefei, Anhui Province on September 20th. Xin Guobin, Vice Minister of Industry and Information Technology, stated in his opening address that the Ministry of Industry and Information Technology will focus on next-generation intelligent manufacturing, continuously enhancing the innovation, competitiveness, and overall strength of the manufacturing industry to create new advantages for "Made in China." First, it will improve the efficiency of the industrial innovation system. This includes strengthening original innovation and tackling key core technologies, reinforcing the leading role of enterprises in technological innovation, optimizing the layout and construction of industrial innovation platforms, and promoting the transformation of more technological innovations into real productivity. Second, it will promote the expansion and quality improvement of advanced manufacturing, comprehensively advancing the transformation and upgrading of traditional industries, the growth of emerging industries, and the cultivation of future industries, building a number of world-class advanced manufacturing clusters. Third, it will enhance advanced manufacturing capabilities, deeply promoting "artificial intelligence + manufacturing," cultivating intelligent factories in a tiered manner, vigorously developing open-source foundation models and vertical models, consolidating the software and hardware foundation for next-generation intelligent manufacturing, comprehensively promoting the green and low-carbon transformation of the manufacturing industry, and innovating and developing service-oriented manufacturing. Fourth, we will cultivate a group of high-quality enterprises, continuously optimize the innovation and entrepreneurship environment, accelerate the construction of world-class enterprises, promote the specialized, refined and innovative development of small and medium-sized enterprises, foster more "little giant" enterprises and single-item champion enterprises, and promote the integrated development of large, medium and small enterprises.On September 20th, the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan," introducing the relevant situation regarding promoting high-quality development of market supervision during the 15th Five-Year Plan period and answering questions from reporters. Yang Sheng, Deputy Director of the National Medical Products Administration, stated that it is necessary to strengthen the legal framework and improve the regulatory standards system. He also emphasized strengthening the research and formulation of standards in cutting-edge fields such as brain-computer interfaces, using standard upgrades to drive quality improvement.On September 20th, Turkish Foreign Minister Fedan Ibrahim stated on September 19th that Turkey is prepared to provide assistance to Saudi Arabia in accordance with the Mecca Mutual Defense Agreement in response to the recent attacks on Saudi Arabia by the Houthi rebels in Yemen. Fedan said that the signatory countries are monitoring the attacks on Saudi Arabia, and Saudi Arabias military needs may focus on some technical issues, which Turkey will be able to meet. Saudi Arabia, Turkey, and Pakistan signed the Mecca Mutual Defense Agreement on August 7th. According to a joint statement issued by the three parties that day, the agreement aims to strengthen joint deterrence against any act of aggression. The agreement stipulates that an armed attack on any of the three countries will be considered an attack on all three.On September 20th, Venezuela and Total Energy signed a memorandum of understanding on Saturday, paving the way for the French companys return to operations in Venezuela. According to a government statement, Venezuelan Acting President Rodríguez presided over the ceremony in Caracas, where Hector Ofregón, president of PDVSA, and Francisco Javier Lielow, senior vice president of Total Energys Americas, signed the energy cooperation agreement. The statement said that Total Energy subsidiary TotalEnergies E&P New Ventures will participate in the energy project. Total Energy and its partner Equinor withdrew from the Petrocedeno oil project in 2021 amid a wave of foreign companies leaving the country. At the time, CEO Patrick Pouané stated that the move was unrelated to the political situation in Venezuela but was in line with the companys plan to reduce its carbon footprint.

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.