Ella 
Here’s what you need to know on Tuesday, September 12:
Reuters reported, citing sources, that Country Garden, China’s largest private real estate developer, has received creditor approval to extend the repayment period of six onshore bonds by three years, and market risk sentiment has recovered. Asian stock indexes closed slightly higher, further supported by a surge in technology stocks on Wall Street overnight.
Tesla surged 10.1%, Amazon climbed 3.5% and Meta Platforms gained 3.2%. Apple Inc rose 0.7% as the company is expected to unveil its latest iPhones at an event on Tuesday.
U.S. S&P 500 futures pared early losses amid a risk reset but struggled to recover as investors continued to trade cautiously as they weighed recent policy guidance from central banks in China and Japan. The United States will release important consumer price index (CPI) data on Wednesday, which will indicate the further direction of the Federal Reserve (Fed) on raising interest rates.
The dollar found support after posting its biggest drop in two months on Monday, but with no major U.S. economic data released and U.S. Treasury yields subdued, the greenback’s upside may be limited.
After Japan’s ruling Liberal Democratic Party (LDP) Upper House Secretary-General Hiroshige Seko said that “BoJ Governor Ueda said that he will exit easing policy after achieving the 2% inflation target,” USD/JPY continued to rebound towards 147.00.
EUR/USD consolidates and rebounds around 1.0750 as traders prepare for the German ZEW investigation. Euro traders are digesting the news that the European Commission has lowered its economic growth forecast for the euro zone.
GBP/USD held above the 1.2500 threshold after a mixed UK jobs report showed incomes growing at a joint record pace while unemployment rose. Meanwhile, Bank of England (BOE) policymaker Catherine Mann said on Monday: “I would rather choose to tighten too much. But if I am wrong and inflation decelerates faster and economic activity deteriorates more, I will not do so.” Cut rates hesitantly.”
AUD/USD is trading back and forth in a 25 pip range above 0.6400 as renewed optimism on China is offset by a pause in USD selling. Meanwhile, USD/CAD is back towards the 1.3600 mark, despite the recent gains in WTI prices.
In the absence of fresh catalysts and repositioning in US inflation data, gold prices held steady while defending the key 200-day moving average (DMA) at $1,920.
