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November 30th - OPEC+ is about to hold a meeting to assess the global oil market. Given the increasingly apparent signs of oversupply, the alliances oil-producing countries are still expected to pause supply increases in the first quarter of next year. Several representatives indicated that the Saudi- and Russian-led alliance is likely to adhere to the plan reached earlier this month to make a modest production increase in December, followed by stable production levels for the first three months of next year. While this pause demonstrates some caution from OPEC and its partners after their rapid resumption of oil production earlier this year, it still leaves the global market facing a significant oversupply in early 2026, potentially putting further pressure on oil prices.Ukrainian President Volodymyr Zelenskyy announced that he has appointed former Ukrainian Ambassador to the United States, Irina Markarova, as his advisor on reconstruction and investment.On November 30th, Canadian Solar announced that it plans to adjust its US market business by establishing two new joint ventures, M and N, with its controlling shareholder, Canadian Solar Inc. (CSIQ). CSI will hold 24.9% of the shares, and CSIQ will hold 75.1%. Company M will focus on the US photovoltaic business, while Company N will focus on the US energy storage business. Simultaneously, the company plans to restructure its US manufacturing plant, with CSIQ holding 75.1% and CSI holding 24.9%, to obtain a one-time equity transfer consideration and subsequent ongoing equity gains from the 24.9% stake in the US business. This transaction and the waiver of commitments have been approved by the board of directors and are subject to shareholder approval.On November 30th, Baili Tianheng announced that its wholly-owned subsidiary, SystImmune, recently received a $250 million milestone payment from BMS. According to the cooperation agreement, the company is also eligible for up to $250 million in near-term contingent payments, as well as additional payments of up to $7.1 billion upon achieving specific development, registration, and sales milestones.On November 30th, Zhuochuang Information announced that it submitted an application to the Hong Kong Stock Exchange on November 28th, 2025, for the issuance of overseas listed shares (H shares) and listing on the Main Board of the Hong Kong Stock Exchange. The application materials for this issuance and listing were also published on the Hong Kong Stock Exchange website on the same day. The issuance and listing are subject to approval, authorization, or filing by relevant government agencies, regulatory bodies, and stock exchanges, and will be implemented only after comprehensive consideration of market conditions and other factors. Therefore, the matter remains subject to uncertainty.

AUD / JPY Falls Below 91.50 Despite RBA Rate Increase Prospects

Alina Haynes

Mar 07, 2023 13:41

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The AUD / JPY pair has moved its auction below 91.50 during the early Asian session. The risk barometer is confronting offers while attempting a recovery, and it is anticipated that its decline will continue to around 91.30. Despite increasing likelihood of a hawkish monetary policy from the Reserve Bank of Australia, the cross shows no signs of recovery (RBA).

 

The Consumer Price Index (CPI) for January showed a significant deceleration, but not enough for the RBA to suspend its policy tightening.

 

GDP increased by 0.5% in the fourth quarter, which was less than the consensus estimate of 0.8% and the previous release of 0.7%.

 

Analysts at SocGen believe that "recent signals in the macroeconomic data, such as the decline in inflation, the revival in the unemployment rate, relatively tepid wage growth, and the confirmation of a decline in consumption, all support a 25 basis point increase in March." Despite the markets' more pessimistic view of US Fed policy, they sustain our baseline scenario of a terminal policy rate of 3.85%.

 

, The annualized GDP data indicate that the Japanese economy has expanded by 0.8%, which is 0.8% more than the previous expansion of 0.6%. While it is expected that the quarterly statistics will show a steady growth of0.2%, it is anticipated that the yearly growth rate will be 0.4%.


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