//Preface//
Since announcing the delay in resuming the route to Hong Kong, the official website of
Qantas has suddenly changed! There is a flight from
to Hong Kong, and
is in December!
If 0+0 is performed in Hong Kong, the
route may be restored earlier!
With the Australian dollar plunging,
Australian dollar exchange rate once again hit a few months low.
At the same time, Australian stocks market fell,
, but energy stocks showed excellent performance.
#01:
QA will resume Hong Kong route ahead of schedule,
+0 imply that the border is about to open?
In September, last month, many airlines around the world announced the suspension of Hong Kong routes, and a large number of planned flights to Hong Kong will be cancelled soon.
This also includes Qantas, Qantas stated that it will be listed as the time for the airline's first direct flight between Sydney and Hong Kong to resume on Monday, January 30, 2023, canceling the original return flight from QF127/QF128 on November 7, 2022.
Image source: executive traveller
However, after querying the official Qantas website, this situation changed: although Qantas has not resumed direct routes to Hong Kong for the time being, On December 7, Qantas resumed a transfer flight, and Sydney flew to Hong Kong via Singapore .
Image source: Qantas official website
Before December 7, Qantas had no routes to Hong Kong. In addition to December 7, another flight from Qantas to Hong Kong was on December 14, with both flights priced at $1,936.
Image source: Qantas official website
Starting from December 14, Qantas flights to Hong Kong are on January 11, 2023.
Image source: Qantas official website
This is actually not a direct flight. After all, in Singapore, Qantas is more just a direct flight to Singapore, but it is also considered that it can travel to Hong Kong.
Image source: Qantas official website
From the official website information, Qantas will still resume direct flights on January 30 next year.
However, this situation may change, just like other airlines cancel the Hong Kong route, Hong Kong's epidemic prevention policy is the main reason for affecting flights.
and will announce the implementation of 0+0 at the earliest this week and at the latest in the third week of this month, that is, the entry restrictions will be completely lifted. Once the policy of
is implemented, there is no reason for airlines to continue to delay the recovery time of routes to Hong Kong.
As China's special administrative region, Hong Kong's restoration of 0+0 not only makes entry to Hong Kong more smooth, but also represents China's willingness to unblock its borders.
from 0+3 to 0+0. Although it is just a change in numbers, it represents the determination to lift entry restrictions.
Currently, mainland China still implements a 7+3 isolation policy, and this policy gradually evolves from the original maximum of 28+28.
Perhaps when Hong Kong implements 0+0, mainland China will further relax entry restrictions and open the country’s doors! This is also what Chinese people around the world expect.
. Recently, the Australian dollar exchange rate suddenly plummeted. If Chinese Australians want to exchange some Australian dollars for air tickets now, it will be very cost-effective.
#02:
Australian dollar exchange rate fluctuates strongly,
yesterday fell to 4.55
The recent exchange rate of the Australian dollar can be said to be very unstable. As of press time, the exchange rate of Australian dollar against RMB has fallen to 1:4.543.
From the overall trend, we can see that the Australian dollar against the RMB exchange rate showed a good upward trend in July.
And in August, the Australian dollar exchange rate began to fluctuate violently, and experienced multiple rises and falls.
Finally, after entering September, the Australian dollar exchange rate began to show a volatile downward trend.
Image source: Sina Finance
In recent days, the Australian dollar exchange rate has also fluctuated relatively largely, and it has experienced many big rises and falls.
Starting from September 29, the Australian dollar experienced a plunge for two consecutive days, starting from the high of 4.6895 on September 29, and fell all the way to 4.5484 on September 30, closing .
Image source: Sina Finance
After experiencing a sharp increase in on October 3, on October 4, as the Australian central bank announced that rate hikes by 325 percentage points, lower than the previous rate hike expectations , the Australian dollar exchange rate plunged instantly.
Previously, the market generally believed that The RBA raised interest rates by another 50 basis points .
The Australian dollar has been underperforming in the past month, and the weakening of the Australian dollar on the day of interest rate hikes reflects the disappointment in the market.
Image source: Sina Finance
Then it fell continuously, and to , it fell sharply to 4.5619 yesterday.
As of press time, the Australian dollar against the RMB exchange rate rose slightly compared to yesterday's closing, and stayed at the level of 4.5674 .
Image source: Sina Finance
Similarly, the exchange rate of the Australian dollar against the US dollar also rose slightly, and remained at the level of 0.6425 before publication.
From the overall exchange rate of the Australian dollar against the US dollar, has begun to show a significant downward trend since mid-August.
Image source: Sina Finance
Why has the Australian dollar exchange rate maintained an overall downward trend recently, and it fluctuated greatly at the same time?
#03:
Australia's trade surplus shrinks,
highlights the downward risk of the Australian dollar
The latest data was released by the Australian Bureau of Statistics (ABS), confirming that Australia continued to maintain its trade surplus, the Australian dollar found support.
But analysts said that Global Commodity prices peaked and the downsides facing the global economy indicate that the Australian dollar may perform poorly .
Image source: Pound sterling live
Australian Bureau of Statistics said on Thursday that Australia's trade surplus contracted in August due to the rebound in imports.
The seasonally adjusted surplus of goods and services decreased by A$643 million, with imports jumping 4.5% to A$207.7 million.
, driven by coal, coke and briquettes, exports grew to US$143.4 million (2.6%).
Image source: Pound sterling live
Westpac Senior Forex Strategist Sean Callow said that
"
2 Australia's trade surplus in August was lower than expected. But this is still a surplus, providing background support for the Australian dollar.
"
The positive trade surplus provides a basic source of support for a currency because it means a country's foreign exchange income is higher than its spending.
In recent months, Australia's trade surplus has expanded dramatically due to the soaring value of Australian commodity exports and the economic slowdown caused by the new crown economy, and the decline in import demand.
But there are signs that commodity prices have peaked, the continued recovery after the new crown epidemic, coupled with the rising value of other important imported commodities, means that the trade surplus is declining.
Image source: Pound sterling live
An analysis report pointed out that the global economy, especially the economic situation in China, will still be very important to the future of the Australian dollar. After all, China's demand has promoted Australia's supportive trade status.
At present, one of the risks facing Australia is that the further deterioration of global economic growth will push down commodity prices and negatively affect Australia's international returns potential.
Economist Kim Mundy said: "
"
We expect the Australian dollar to remain weak as the global economic outlook is bleak and commodity prices appear to have peaked.
”
As commodity prices soared in the first half of this year, the Australian dollar has been one of the better-performing currencies in 2022, but this impulse has played a role. As investors expect global demand to decline, the Australian dollar price is on a downward trend.
#04:
#04:
#04: 2 is worried about the recession,
Australian stock market fell
On the other hand, as Feder has no sign of slowing interest rate hikes, dragged down by concerns about the recession, Australian stock market fell, and all sectors except the energy sector were negative.
As of midday, ASX The 200 index fell 40 points to 6777 points, a drop of 0.6%.
Image source: ABC news
Financial stocks fell 0.5%, and the four major banks all fell more than 0.3%.
Interest-rate sensitive technology stocks fell more than 1%, after Nasdaq, which was previously dominated by technology stocks, sold.
software Company Novonix fell 1.1%, while Megaport fell nearly 4%.
On the other hand, energy stocks rose 0.8%. Previously, Organization of the Petroleum Exporting Countries (OPEC+) agreed to tighten global supply, cutting daily output target by 2 million barrels, the biggest drop since 2020.
Karoon Energy soars 9.7%, Woodside Energy and Santos rose 0.1% and 1.7% respectively. In terms of
stocks, Allkem's share price rose 0.5%. Previously, International Financial Company agreed to provide a loan of 200 million Australian dollars to the lithium mine merchant, providing funds for a battery-grade lithium carbonate project in Argentina .
academic sector and real estate sector fell the most, down 2.4% and 1.9% respectively.
worst performer was Iluka Resources (-5.1%) and Domino's Pizza (-2.3%).
Finally
As the global economy begins to recover, commodity prices begin to hit the top. For Australia, the trade surplus is reduced, and the economic concerns brought by the Federal Reserve's interest rate hike put huge pressure on the Australian dollar exchange rate, and the downward trend of the Australian dollar is expected to continue.
And the unblocking of China's borders may also usher in more good news. I really hope that the day when China opens its doors will come soon!
