Archiv für den Monat: August 2023
香港交易所任命上市發行人監管主管
香港交易所任命上市發行人監管主管
China’s economic model is ‚washed up on the beach,‘ says veteran investor David Roche
China’s economic model is „washed up on the beach“ and „not going to take off again,“ which will have a big impact on global markets, says veteran investor David Roche.
Stocks making the biggest premarket moves: Walmart, Adobe, Cisco, Hawaiian Electric and more
These are the stocks posting the largest moves in the premarket.
China is considering countermeasures to Biden’s executive order
China signaled it would respond if needed to the Biden administration’s executive order to restrict U.S. investments in advanced Chinese technology.
Don’t count out more rate hikes due to strong jobs market, former Fed governor Kroszner suggests
Randall Kroszner, who’s now a University of Chicago economics professor, believes rates are staying high into well next year.
Stocks making the biggest moves after hours: Cisco Systems, Synopsys, Wolfspeed and more
These are the stocks posting the largest moves in postmarket trading.
Walmart raises full-year earnings forecast as grocery, online growth fuel higher sales
Walmart beat earnings and revenue expectations as it capitalizes on its low-priced reputation with consumers looking for value.
Europe’s Stripe rival Adyen dives 28% after slowest sales growth on record
Adyen reported revenue of 739.1 million euros ($804.3 million) in the first half of the year, up by 21% from 2022, but below analyst estimates.
Aussie bounces back alongside the offshore yuan, time to fade?
The pair is now up 0.1% to 0.6430 and well off the earlier lows of 0.6365 today. It comes alongside a bounce in the Chinese yuan, after this particular headline here. The offshore yuan has strengthened from 7.34 to 7.30 against the dollar and that is helping with sentiment in the aussie. A steadier risk mood is also helping somewhat on the day with US futures keeping gains of roughly 0.2% currently.
Despite the bounce, the technicals are still not looking bright for AUD/USD. The pair has been on a losing streak over the past seven days and it just vindicates the poor August seasonality that we have been accustomed to.
There’s still no real turnaround in the downside momentum just yet and it will take more on the part of buyers to try and turn things around. The May low at 0.6458 and 100-hour moving average at 0.6465 are the points to watch in case buyers do make an attempt.
However, with the fundamental outline still not looking favourable, the path of least resistance should be lower for the aussie especially if bond yields are able to keep higher for the time being. That suggests that the bounce here should be faded, with the technical resistance levels above being better spots to build on shorts.
This article was written by Justin Low at www.forexlive.com.