WEEK 47 | Sunya Global Logistics：Shipping News-Eu/Med
CATALOGUE
I. Shipping Trade News
II. Market Price Trends
01
Shipping Market News
航贸新闻
1
Australian Dollar Continues
to Decline
After two days of gains, the Australian Dollar (AUD) weakened against the US Dollar (USD) on November 11. The AUD/USD pair fell as hopes grew that a solution to the U.S. government shutdown might soon be reached.
Westpac’s Consumer Confidence in Australia jumped 12.8% in November to 103.8, surpassing 100 for the first time since February 2022. This rebound follows a 3.5% decline in October and represents the strongest non-pandemic reading in seven years, supported by improved economic conditions and easing external risks.
National Australia Bank’s (NAB) Business Conditions index saw a slight improvement in October, rising to 9 from 8 in September, driven by stronger sales and profitability, while employment remained unchanged. Meanwhile, Business Confidence eased from 7 to 6 over the same period.
The AUD also found support from cautious remarks by Reserve Bank of Australia Deputy Governor Andrew Hauser, who highlighted the unusual challenges facing monetary policy and stressed the need to maintain tight conditions to curb inflation. Hauser noted that Australia’s monetary policy is in a delicate phase, as the economic recovery began with demand already exceeding potential output, leaving little room for short-term easing.
The AUD/USD pair traded near 0.6530 on November 11. Technical analysis on the daily chart shows the pair consolidating within a rectangular pattern, moving sideways. However, it remains above the 9-day Exponential Moving Average (EMA), indicating stronger short-term momentum.
Immediate resistance lies at the 50-day EMA at 0.6536. A breakout above this level would improve medium-term price momentum and support the AUD/USD’s move toward the upper boundary of the rectangle near 0.6630. Further gains could help the pair approach the 13-month high of 0.6707, recorded on September 17.
On the downside, initial support is seen at the 9-day EMA at 0.6520, followed by the psychological level of 0.6500. Additional support stands near the lower boundary of the rectangle around 0.6470, as well as the five-month low of 0.6414 set on August 21.
2
ING: EUR/USD Is
Undervalued, but Lacks
Catalysts for a Meaningful
Recovery
According to Francesco Pesole of ING, the euro may stabilize against the dollar after its recent losses, as the current exchange rate appears undervalued. “Based on our short-term fair-value model, EUR/USD remains undervalued by around 1%,” he noted. This suggests that the recent rise in the dollar has gone beyond what can be justified by market-driven factors such as interest-rate and equity-market differentials.
However, Pesole added that the euro lacks catalysts for a meaningful recovery, and the potential end of the U.S. government shutdown creates uncertainty regarding its impact on the dollar. ING expects the euro to hold above $1.150 and sees room for stabilization near $1.160.
02
Market Price Trends
市场运价走势
Australia New Zealand Line
|
1 |
Spaces Availability：Increase |
|
2 |
Rates Trend：Increase |
|
3 |
Market Information：Export demand on the Australia route has weakened, vessel space has increased, and rates have been adjusted downward. On the Australia–West route, transshipment ports remain congested and space is tight, keeping rates firm, while transit times cannot be guaranteed. |
Europe/Mediterranean
|
1 |
Spaces Availability：Reduced |
|
2 |
Rates Trend：Reduced |
|
3 |
Market Information：Space on the Europe route is expected to tighten in the second half of the month, while rates are slowly trending downward. |
Contact Us
联系我们
☎️0755-23824559
📧sunyaholding@sunyaholding.com
*图片源于网络，如侵权请联系删除
