Chinese equities tracked the broader region in the red, with the Hang Seng Index down 1.4%. Eyes on the political front were on the high-level talks between President Biden and President Xi, with the former indicating the meeting as making ‘real progress’, but that failed to provide much of an uplift for risk sentiments the way it should. Further downside will likely challenge its November low at the 79.26 level for a lower low, with any failure to hold likely to pave the way towards the 75.00 level next.Īsian stocks are in for a weaker start, with Nikkei -0.55%, ASX -0.37%, Hang Seng Index -1.02% and KOSPI -0.16% at the time of writing, as the risk rally took a breather. Its weekly relative strength index (RSI) has moved back below its key 50 level as a sign of sellers in control, as prices failed to cross above its weekly Ichimoku cloud resistance. Ahead, a series of economic data ranging from jobless claims, industrial production and housing market index remain on close watch to gauge the moderation in US economic activities.Īside, Brent crude prices continue to struggle at its previous support-turned-resistance at the 82.50 level with a 2.3% down-move following a larger-than-expected rise in US crude inventories. But on the other hand, more resilient consumer spending as reflected in the retail sales (-0.1% month-on-month versus -0.3% consensus) called for some recalibration in rate-cut expectations. On one hand, US producer prices continue to mirror the downside surprise in US CPI this week and validated further rate hold from the Federal Reserve (Fed). The US two-year yields were up 7.6 basis-point (bp), while the US 10-year yields crossed above the 4.50% handle – a potential reaction to stronger-than-expected US retail sales. Imports: Medicinal and Pharmaceutical Product (USD th)Įxport: Value: Coal, whether or not Pulverized, but not Agglomerated (AUD mn)Įxport Value: SITC: FOB: MS: Copper Ore & Concentrate, Copper Matte & Cement Cop.The rally in Wall Street took a breather overnight, as Treasury yields attempted to recover following its post- consumer price index (CPI) sell-off. View Australia's Exchange Rate against USD from Jan 1957 to May 2023 in the chart:Ĭonsolidated Fiscal Balance: % of GDP (%)įorecast: Government Expenditure (AUD bn)ĭOT Forecast: Budget Aggregates: Revenue (AUD bn)ĭOT Forecast: Budget Aggregates: Expenses (AUD bn)Įxports: Medicinal and Pharmaceutical Product (USD th) The cash rate (Policy Rate: Month End: Cash Target Rate) was set at 3.600 % pa in Apr 2023.Its Long Term Interest Rate (Government Bond Yield: Australian Government: 10 Years) was reported at 3.500 % pa in May 2023.In the latest reports, Australia Short Term Interest Rate: Month End: Bank Acceptance Bills Rates: 90 days was reported at 4.042 % pa in May 2023.Exchange Rate against USD prior to January 1971 is sourced from the International Monetary Fund. Federal Reserve Board provides average Exchange Rate against USD. The data reached an all-time high of 1.994 in Apr 2001 and a record low of 0.673 in Mar 1974.ĬEIC extends history for monthly average Exchange Rate against USD.
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