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The EU trade chief said the European Commission will impose restrictions on EU aluminum scrap exports.On November 18th, the U.S. government website showed that initial jobless claims for the week ending October 18th were 232,000; continuing jobless claims were 1,957,000, an increase from the previous weeks 1,947,000. Meanwhile, initial jobless claims for the week ending September 20th were revised upwards from 218,000 to 219,000, and the four-week moving average was revised upwards from 237,500 to 237,750. Continuing jobless claims for the week ending September 13th were revised downwards from 1,926,000 to 1,916,000. The U.S. government website has not yet released initial jobless claims data for the weeks ending September 27th, October 4th, October 11th, October 25th, November 1st, and November 8th. If the government had not shut down, these six sets of data should have been released.On November 18th, JinKong Power announced that, in order to improve asset liquidity, the company plans to transfer 51% of its wholly-owned subsidiary, Tongying Thermal Power, to Jinbei Energy Company. The transaction will be conducted through a private placement, with a transfer price of RMB 266 million. Tongying Thermal Power primarily engages in the production and sale of electric heating and is currently in the preparatory stage for a thermal power project, with no product production or sales yet. As of June 30, 2025, Tongying Thermal Powers total assets were RMB 3.338 billion, total liabilities were RMB 2.824 billion, and total equity was RMB 514 million.On November 18th, the Japanese Ministry of Agriculture, Forestry and Fisheries announced the prices for new rice traded between shipping groups and wholesalers. The average price for all varieties produced in October 2025 was 37,058 yen per 60 kilograms of brown rice, an increase of 163 yen from September, setting a new record high. Starting in the summer of 2024, Japanese rice prices began to rise due to factors such as poor rice harvests caused by extreme heat.On November 18th, the Israel Defense Forces (IDF) submitted a formal position paper to the Israeli government leadership, strongly opposing the potential sale of F-35 fighter jets by the United States to Saudi Arabia, and warning that such a move could weaken Israels air superiority in the Middle East. The document stated that the Israeli Air Forces regional advantage relies on its exclusive use of fifth-generation stealth fighters. It further stated that the long-range operational capability of Israels "Adil" fleet (the IDFs fleet of F-35I stealth fighters) depends on this exclusivity, and that if Saudi Arabia deploys the same type of aircraft, it will weaken Israels operational advantage.

AUD/NZD strengthens above 1.0800 as focus shifts to RBA Lowe's speech and RBNZ policy

Daniel Rogers

Nov 22, 2022 14:59

截屏2022-11-22 上午10.03.22.png 

 

In the early Tokyo session, the AUD/NZD pair is displaying inventory accumulation between 1.0810 and 1.0830. Investors have shifted their focus to Reserve Bank of Australia (RBA) Governor Philip Lowe's speech, which has caused the asset to swing unpredictably. The primary impetus for the cross will be the Reserve Bank of New Zealand's (RBNZ) interest rate decision on Wednesday.

 

Investors await the RBA policymaker's speech in order to get an informed opinion. The speech will include interest rate suggestions to counteract the exceptional increase in inflationary pressures. Third-quarter inflation hit 7.3%, compelling the Australian central bank to lift its price growth projection to 8%. To preserve healthy economic prospects and achieve price stability, the RBA maintained its rate hike timetable at 25 basis points (bps).

 

On the kiwi front, the Reserve Bank of New Zealand's (RBNZ) monetary policy statement will deepen policy divergence between the RBNZ and the RBA. Governor Adrian Orr of the Reserve Bank of New Zealand (RBNZ) has already announced five consecutive rate hikes of 50 basis points (bps) to a current level of 3.5 percent and has no plans to pause rate hikes despite rising inflationary pressures.

 

The Official Cash Rate (OCR) will climb by 75 basis points (bps) this time, according to a Reuters survey of the RBNZ's rate hike estimates. A comparable scenario would cause the OCR to increase to 4.25 percent and depart significantly from the RBA's policy structure.

 

The decision may boost the New Zealand Dollar in the future, but reduces the Reserve Bank of New Zealand's room for future rate increases. In addition, additional economic dynamics requirements will be shifted into the future.

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