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On August 5th, the Shanghai Headquarters of the Peoples Bank of China (PBOC) held its 2026 second-half work conference on August 4th. The conference emphasized that the PBOC Shanghai Headquarters should earnestly implement the moderately loose monetary policy and actively encourage financial institutions to tap into effective credit demand. It should make good use of various structural monetary policy tools. It should implement the "Five Major Articles" (1+N) series of financial policies. It should promote the continued effectiveness of the "Technology Board" in the bond market in Shanghai. It should steadily deepen financial reform and opening up, and build a sound foreign exchange management system. It should implement new policies on high-level opening up of cross-border trade and investment financing, overseas lending, and overseas listing. It should enhance the exchange rate hedging capabilities of SMEs. It should coordinate the promotion of cross-border finance and offshore finance, and accelerate the implementation and effectiveness of the comprehensive reform pilot program for offshore business financial services. It should promote the application of digital RMB scenarios and the construction of its ecosystem. It should continue to carry out local legislation in the financial field. It should continuously improve the systemic risk prevention and mitigation mechanism. It should strengthen the crackdown on illegal financial activities. It should continuously improve the macro-prudential management mechanism framework. It should comprehensively improve the level of cross-border financial risk monitoring.August 5th - According to a report on the Nikkei Asian Review website on August 5th, debris from a SpaceX Falcon 9 rocket is about to impact the moon. The report states that debris from the rocket will impact the lunar surface on August 5th, creating the largest man-made crater ever recorded, approximately 27 meters in diameter. This will help explore the lunar environment and establish corresponding safety measures before large-scale manned lunar landings and the construction of lunar bases. The impact is expected to occur around 3:35 PM Japan time (2:35 PM Beijing time) on August 5th, near the Einstein crater on the western side of the moon, with an impact velocity of approximately 2.4 kilometers per second. The impact will create a crater approximately 27 meters in diameter and 5 meters deep, ejecting a large amount of sharp gravel and rock into the surrounding area. The impact energy is equivalent to 3 tons of TNT, enough to destroy a large building.Russia says the attack damaged three ships near Odessa.As of August 5, the Reserve Bank of Indias reverse repo rate was 3.35%, unchanged from the previous rate.The Russian Ministry of Defense stated that the facilities were used for military purposes.

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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