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By venynx, 2020-09-02
Traders expecting Wednesday‘s FOMC meeting to reverse the dollar’s fortunes, received a rude awakening as a dovish policy statement continued to heap pressure on the USD.To get more news about WikiFX, you can visit wikifx official website.
With the economy showing little sign of recovery from the devastating Covid-19 driven recession that we currently find ourselves within, the Fed left interest rates at near zero levels and vowed to continue “acting as appropriate to support the economy.”
Jerome Powell also implored Congress to help stimulate the economy through supportive fiscal policy, but the ultrasensitive and divided US political landscape certainly doesnt help.
There‘s no way today’s FOMC statement can be viewed any way but as a dovish message to markets, with the Feds intention to maintain highly accommodative policy for “as long as it takes.”
Most likely were talking years here.
The actual July FOMC statement was little changed from June, but did feature the following addition: “The path of the economy will depend significantly on the course of the virus.”
The irony of the Fed speaking about there being no tradeoff between the US economy and public health on the same day that the countrys Covid-19 death toll ticked above 150,000, is not lost on me.
A devastating milestone that looks nowhere near a top, with California, Texas and Florida all also reporting record numbers of daily deaths.
“Even if the reopening goes well and many, many people go back to work, it is still going to take a fairly long time for parts of the economy that involve lots of people getting together in close proximity” said Powell in his accompanying, socially distanced, virtual press conference.With markets becoming increasingly addicted to stimulus, we know support means free money and as you can see below, the markets reacted accordingly.
The US Dollar Index (DXY) remains under pressure, reaching support not tested since 2018.
By venynx, 2020-09-02
Recently the global stock markets soars with irresistible force, the Chinese and US stock market in particular. And driven by new economy, the Nasdak Composite Index hit record high many times, and it closed at 10,492.50 on July 8, another record close high.To get more news about WikiFX you can visit wikifx official website.
This decreased the pressure on USDs liquidity from the market and weakened the safe haven function of USD, putting continuous pressure on the US dollar index. In the short term, the index is more likely to test the low level of 95.716 recorded in May. If it fails to break the level, the index may challenge the low level of 94.650 happened on March 9.
Faced with a weakening US dollar index, non US dollar currencies bounced back in varying degrees. From a perspective in Macro trend, the Swiss Franc has the best year-to-date performance, up about 3.5% again the USD, ranking the first among all currencies. And safe haven Japanese yen ranks the third, up 1.34% this year, second only
The Swiss Franc performed extremely well because of the relatively stable situation of COVID-19 and better economic data in Switzerland compared with that of other European countries. Therefore, forex traders preferred the Swiss Franc to USD as a safe haven. And market estimates that the Swiss Franc will keep maintaining an edge in the second half of this year. In the short run, USD/CHF appears to approach the low level of 0.9181 of March or the low level of 0.9071 recorded in 2015.
It is estimated that cautiously optimism pervades the future Japanese yen market, another safe haven. Recent USD/JPY basically fluctuates at the range of 108.16-106.00, being approaching the level of 106.00. And it is likely to break the level and challenge again the major support level of 104.45.
By venynx, 2020-09-02
Global spot gold price rose to 1,817.88 USD on July 8, hitting a 8-year high. Wholly speaking, gold price still hovers at a high level. According to the previous experience, it seems like the gold price hasnt peaked, and it is likely to hit a new high in the future and edges close to another major level of 1,900 USD.To get more news about WikiFX, you can visit wikifx official website.
I have traded gold for 30 years and know that there are many basic factors that can affect the trend of gold, as well as major ones including against the USD, trend of the USD, geopolitics and anti-inflation. Now the weak US dollar, geopolitical tension and easing monetary policy by global banks all contributes to further currency depreciation. Although the strong US stock decreases risk aversion, gold price will rally steadily and repeatedly due to the well support by other favorable factors.
It is remarkably that a sudden slump in global stock markets is profitable for gold price with an increasing risk aversion. Recalling the sharply drop in stock market in March, both gold and stock slumped by over US$250. As the stocks fall led to the liquidity squeeze of US dollar and further to sharp rise of US dollar index, causing the simultaneous sharp drop of both a group of non US dollar currencies and gold. Therefore, if the global markets collapse, do not easily believe that it is good for the gold price 100 percent.
Recently, according to a data released by the US, its inflation increase recorded a 8-year high, caused by the sharp recovery of oil price. If the inflation in the US becomes worse, the Fed still needs to simulate economy by maintaining lower interest rate, which is expected to support well the price of gold, as an anti-inflation hedge. In a short term, supported by the profitable factor above, the spot gold price is likely to test above the level of 1,840-1,850 USD, and then to approach the major level of 1,900 USD after giving back gains with a stable fluctuation.
By venynx, 2020-09-02
Are you wonder about the popularity of WOW? Why are so many people excited about a 15-year-old game? This involves not only game mechanics, talent trees or recent film adaptations. Older games have many features in aesthetics that were designed before options such as independent flight. Even if you don't have a chain of exploration or a dungeon running towards you, several cities and WOW classic gold with a little Azeroth classic battle are worth a visit. This is the best cities in WOW Classic.To get more news about buy wow classic items, you can visit lootwowgold official website.
Thunder Bluff has always been ahead of the times. It's all about geography, inclusiveness and sustainability. The streets of the city can be seen clearly, and anyone who respects the custom of the Tauren will be accepted. The whole thing is driven by the wind. There are no annoying goblins or gnome machines here, and the background music consists of soothing drums.
The Tauren is a popular place, but the only way for Alliance players to see the city is through a raid. It is well known that the city is difficult to raid, which is another matter from the tribal perspective. Sometimes, even the most passionate PVPer requires a shelter.
TOP 4: Darkshire, Duskwood
Horde players travel to Darkshire just to see the league version of Tirisfal Glades. The curved Gothic building looks great and gives the city a ghostly romance, but it doesn't seem to fit. The sunny Elwynn Forest and the delightful Red Ridge Mountains are next door to the south, the tropical Stranglethorn Vale. As you delve into this knowledge, you will find the darkness that infiltrates from Karazhan in the east. Follow the road leading to the Swamp of Sorrows, find a shelter in Ha, a forgotten sanctuary, and talk about things that seem out of place.
TOP 3: Stormwind, Elwynn Forest
Most people think Stormwind is just too sprawling, while others like canals, green spaces and medieval stone designs. Stormwind did show off a little, but it was the capital of the Union and might even feel that it had to overcompensate for the loss of Lordaeron. The city is divided into convenient sections, so although it is large, it is at least organized. It is connected to the Ironforge by tram, and you can travel to various places through the harbour, making it a convenient transportation hub and a very cool city.
By venynx, 2020-09-02
With the release of Phase 3 World of Warcraft: Classic, players can finally experience the the mythical Darkmoon Faire. Don't expect to discover a portal to Darkmoon Island, as this is not a feature in classic gold. Instead, Faire will stay in the Mulgore or Elwynn forest. In addition, there is no Darkmoon mages in the capital city to teleport you directly to Faire.To get more news about wow gold classic, you can visit lootwowgold official website.
The Darkmoon Faire rotates between locations in Mulgore and Elywnn Forest in every month. When the fairing is on enemy territory, in fact, you can participate in the celebration as long as you can avoid the enemy guards that surround the camp.
When Faire moves to Mulgore, Kubran Darkblade, Barker will announce its position change in Orgrimmar, and his contemporary Melnan Darkstone will do the same in Ironforge when Fairfore moves to his Elywnn Forest residence.
Both Bucks provide the same mission: Darkmoon Faire, if talking to the simple Gevlas Grimegate (found in the amphitheatre), they will be awarded 5 Darkmoon Faire tickets and 50 reputation.
If you want to be infamous on Darkmoon Faire, it is best to wait until the mission stops giving reputation rewards before handing Darkmoon Faire to the relevant Barker. Players can get a separate quest version from Buck of each faction, because Kruban Darkblade can give his quest version to Alliance players, and Mernan Darkstone can provide the same conditions to members of the tribe, provided that You can make it surpass the enemy's guard. Keep this in mind because you can perform tasks and double the task rewards at the same time.
Are you confused that can’t find more game gold in WoW Classsic? Don't waste time blindly finding products you need instead of buy them. Mywowgold is one of the high-rated wow gold trading stores in the gaming market.
By venynx, 2020-09-02
CN360 super mini car led M2 led headlight bulbs is designed to be amazing easy to install, a really plug and play led headlight set. We got feedback of only took 10 mins to installation new M2 led headlight bulb in per side. M2 car led bulbs will fit over 90% of all cars and trucks for truck.To get more news about H4 LED headlights, you can visit iengniek official website.
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While telling led headlight is with small size, most of the people will consider will such led car bulb have heat dissipation risk and burn his new car? M2 car led bulbs headlight is equiped with high heat conduction copper board and aviation grade aluminum alloy lamp body, which defenitely increase its heat dissipation function! What is more, our M2 led bulbs is with fan design, that will be the third line of defense, no need to worry about its heat dissipation!
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M2 car led bulbs led headlight is with intelligent temperature control, smart IC. While you are having long time trip and dring car at night for hours, if the M2 car led bulb fan have problem and suddentenly can not work, the intelligent temperature control IC will conduct the light bulb and turn its brightness to harf, and you will clearly notice its change, and in that time, you have enouge time to change bulb or find a garage for helping, safety gurantee!
By venynx, 2020-09-02
Most people are aware that LED stands for Light Emitting Diode; however, less well known is that LED car headlight units can bring an increase in cost and complexity over halogen bulbs, and also an increase efficiency and adjustability – thanks in part to the diminutive proportions and power usage of each diode.To get more news about engniek, you can visit iengniek official website.
Most new cars come with LED daytime running lights, but full LED headlights are not industry standard (yet). As manufacturers chase reduced fuel consumption and lower emissions, easing the electrical strain on a car has become more important, and that is exactly what LED lights help do.They produce crystal clear light, which when combined with matrix light technology (explained later) offer huge advances in adaptability and illuminating power over standard LED, xenon and halogen headlamps. A negative to the LED units, especially of the matrix kind, is replacing the unit can be incredibly costly.
That being said, full LED headlights are likely to keep increasing in prevalence and spending the extra money might be an advantage down the line come sale time. Also, if you are less than confident when driving at night, LED matrix lights could go a long way to helping you.An LED is simply a semiconductor which emits light when a current is passed through it – they only work with current flowing in one direction, mind. Due to requiring relatively little current to illuminate, the energy drawn from the battery (and therefore the engine) is less than halogens and xenons.
Current flows from cathode to anode passing through a semiconducting material, which is a material which had a conductivity somewhere between metal and rubber, made by adding a material that conducts electricity to an insulating material. The semiconductor then emits photons, which is then illuminate the road ahead. Due to the simplicity of the LED, there is very little to go wrong with them, which is why they are predicted to last well over a decade. That said, LED headlights haven’t been around long enough to establish how long they will last for when used on the open road.
It is worth noting not all adaptive headlights are LED units. An adaptive unit is merely a headlight which can change its direction and/or brightness to suit road conditions – whether that be older halogen units, more modern LED ones, or industry leading laser units. An adaptive LED light is one that is both made from LEDs and able to change its direction and or brightness.
By venynx, 2020-09-02
China's VC industry bounces back after coronavirus-induced winter
Chinese firms recorded 66 venture capital deals for the week ended March 28, the most of any week in 2020 and just below figures from the same time last year.To get more news about china industry research, you can visit acem.sjtu.edu.cn official website.
It's a sign that the VC industry in the rest of the world could also mount a quick recovery from travel restrictions and other measures that have made investing more challenging. In the first six weeks of the year, deal volume and capital raised in China had fallen more than 60% compared with the same period last year, according to PitchBook data.
But any optimism should be tempered with a note of caution. If a second wave of the virus were to hit China, stringent lockdown measures would be reinstated and deal activity would most likely dive again, said Alex Frederick, an emerging tech analyst at PitchBook.Containment measures intended to slow the outbreak sharply curtailed many of China's hallmark industries, notably manufacturing and logistics. But it has also drawn attention to new opportunities.
Two sectors that have seen an uptick in VC deals include advanced manufacturing and edtech, Frederick said. Last week, Chinese online education startup Yuanfudao hauled in $1 billion at a $7.8 billion valuation, according to Reuters, at a time when the world is rethinking the merits of remote teaching. And Chinese software companies have fared particularly well in recent weeks, with the industry claiming nearly a third of all deals in the country.
The rebound is a welcome sign for startups and investors in the US and Europe, who are now seeing investment activity begin to slide. In the last week of March, the number of deals in the US was down some 26% compared to February's weekly average, according to PitchBook data.That activity is likely to slow much more in the coming weeks as the US grapples with more official cases of COVID-19 than any other country. There is a natural lag time between when deals are made and when they are announced publicly.
If investors are able to find deals, there's money to fund them. Globally, venture capitalists had around $188.7 billion in dry powder as of mid-year 2019, according to a recent PitchBook analyst note on COVID-19's Influence on the US VC Market. That works out to more than two-and-a-half years of capital on hand.
Investors may also find that the market turmoil will make for new opportunities. During the Great Recession, the share of companies raising money at lowered valuations grew sharply, according to the analyst note. Investors also tend to demand more protection in deals during downturns, such as liquidation preferences and dividend rights.
By venynx, 2020-09-02
'Make in India' looking to take on China's tech industry
It has been a bad year for Chinese businesses working around the globe. Tariffs and the trade war between China and the US forced many companies to rethink supply chains and where they make and sell goods. Many other companies have been looking for alternatives because of the increased labor costs and more strict environmental laws. But that was just the beginning of China's problems. To get more news about chinese industry and management practice, you can visit acem.sjtu.edu.cn official website.
The COVID-19 pandemic started in the country, led to shutdowns and forced people to stay at home. As it spread, factories, shops, restaurants and schools around the world were closed. Millions lost their jobs and economies went into tailspins. Though some countries are again open for business, recovery will be slow and painful. Talk of recession is everywhere.
China has come under scrutiny as the source of the virus and as a place to do business. The US has been most vocal, but they are not alone. Other countries are looking to shore up their own manufacturing and businesses are looking for the path of least resistance.
On May 12, the prime minister, Narendra Modi, announced that his government would provide 20 trillion rupees (€242 billion, $266 billion) in help to stabilize the economy. Part of the plan is around $60 billion of loan guarantees for small businesses, lenders and power companies.
Overall the plan will "focus on land, labor, liquidity and laws," said Modi. Besides stabilizing the economy, he hopes this will also make India a more attractive partner. "These reforms will promote business, attract investment and further strengthen 'Make in India'," he said.
A technological solution
One way India wants to overtake its neighbors is with a new incentive program put in place in April called the "Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing." The plan targets makers of mobile phones and certain electronic components by offering them financial incentives to start or build up their existing domestic manufacturing capacity.
The program will pay tech manufactures an incentive of 4-6% on incremental sales of goods manufactured in the country for five years starting August 1. To get the most out of the program, manufacturers have to make at least $10 billion worth of goods between 2020 and 2025.
According to the government the country's share of global electronics manufacturing has gone from 1.3% in 2012 to 3% in 2018. The program is meant to increase that even more by compensating business for the country's "lack of adequate infrastructure, domestic supply chain and logistics; high cost of finance; inadequate availability of quality power; limited design capabilities and focus on R&D by the industry; and inadequacies in skill development," according to the official notice printed in The Gazette of India.
Though limited to a small sector of the overall economy, the scheme may already be having an impact. Last week it was reported that Apple may move some of its production out of China to India. It would be the first big tech company to take advantage of the new government scheme.
So far Apple has been quiet on the matter, but India's The Economic Times picked up the story and reported that the company is in talks with government officials about making up to $40 billion worth of iPhones over the next five years by ramping up production at their current contractors Wistron and Foxconn.
"India isn't a big market for Apple as the company sells only a fraction of its total output in India. It is actually looking at India as a base to manufacture and export, essentially diversifying its production out of China," a senior government official was quoted in the newspaper.
If reports are true it could turn Apple into the country's largest exporter. It would also mean that the company is moving around 20% of its current Chinese production to India. In China, Apple made products valued at $220 billion from 2018-2019, a majority of which it exported.
Though this program comes at a time of economic disorder, the foundations were actually laid during calmer times in December when Modi met with executives from Apple and Samsung. Yet it is now more important than ever to attract big contracts if India wants to turn the current globalization upheaval to its own advantage.
By venynx, 2020-09-02
China's economy has rebounded after a steep slump
China's economy returned to growth in the second quarter after a deep slump at the start of the year, but unexpected weakness in domestic consumption underscored the need for more policy support to bolster the recovery after the shock of the coronavirus crisis.To get more China economy news, you can visit shine news official website.
Asian share markets and the Chinese yuan fell, partly reflecting the broad challenges facing the world's second-largest economy as it grapples with the double-whammy of the pandemic and heightened tensions with the United States over trade, technology and geopolitics.
Gross domestic product (GDP) rose 3.2% in the second-quarter from a year earlier, the National Bureau of Statistics said on Thursday, faster than the 2.5% forecast by analysts in a Reuters poll, as lockdown measures ended and policymakers ramped up stimulus to combat the virus-led downturn.The bounce was still the weakest expansion on record, and followed a steep 6.8% slump in the first quarter, the worst downturn since at least the early 1990s.
"As we previously highlighted, policy support is still needed despite recovering growth momentum," Betty Wang, ANZ bank's senior China economist.
"The possibility of resurgences in local COVID-19 cases, global economic uncertainty and the deteriorating China-U.S. relationship all pose downside risks to China's H2 growth outlook," Wang said.
Those risks were partly reflected in separate retail data that showed Chinese consumers kept their wallets tightly shut, pointing to a bumpy outlook at home and overseas, as many countries continue to grapple with the COVID-19 pandemic - led by surging infections in the United States.
Though June indicators and GDP numbers largely beat expectations, Rodrigo Catril, a foreign exchange strategist at NAB in Sydney, said they also revealed "the China consumer remains behind in terms of the recovery story."
"It's very much a story of government stimulus-led recovery, which is very much focused on the industrial side. The consumer remains very cautious. That cautiousness is something the market is looking at in terms of countries where the consumer plays a bigger role, so that's obviously relevant for the U.S. as well."
Retail sales were down 1.8% on-year in June - the fifth straight month of decline and much worse than a predicted 0.3% growth, after a 2.8% drop in May.
Domestic job losses have been one of the worries for consumers, as many businesses struggled to stay in the black.
Wanda Film, for example, China's largest cinema chain operator which has more than 600 cinemas, on Tuesday warned of a first half net loss of 1.5-1.6 billion yuan (£170.4-£181.6 million), after the coronavirus kept its cinemas shut for almost the entire period.