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On July 13, Bernd Lange, chairman of the European Parliaments Trade Committee, said that the EU should formulate countermeasures as soon as possible on Monday. He said: "Trumps tariffs on the EU are a slap in the face of negotiations. This is not the way to deal with an important trading partner."On July 13, Aravind Srinivas, CEO of US AI search startup Perplexity, said on social media that based on the good performance of the Kimi K2 model, the company may use K2 for post-training in the future. DeepSeek R1 was also used by Perplexity for model training. K2 is a trillion-parameter open source model recently released by Kimi, which emphasizes code capabilities and general agent task capabilities.July 13, analysts said that financial markets, which have become increasingly insensitive to U.S. tariff threats, will face a test when they open on Monday after Trump announced over the weekend that he would impose 30% tariffs on the European Union and Mexico from August 1. Trump has recently stepped up trade measures, promising to impose more tariffs on everything from Canada to Brazil to Algeria and inviting trading partners to further negotiations. Despite warnings from JPMorgan Chase CEO Jamie Dimon and others not to take it lightly, investors have so far reacted as if they were counting on the U.S. president to back down again because they have seen the previous 180-degree turn. Brian Jacobsen, chief economist at Annex Wealth Management, said: "Investors should not just treat Trumps threat of a 30% tariff on EU goods as a bluff. This tariff level is punitive, but it may hurt the EU more than the United States, so the clock is counting down."On July 13, French President Emmanuel Macron posted on social media on the 12th that France and the European Commission strongly opposed the US announcement that day to impose a 30% tariff on EU exports from August 1. Macron wrote that in the context of EU unity, the European Commission should demonstrate the EUs determination to defend its own interests. If Europe and the United States cannot reach an agreement before August 1, the EU should mobilize all tools, including anti-coercion mechanisms, to speed up the preparation of "credible countermeasures." France supports the European Commission and the United States to step up negotiations in order to reach an agreement acceptable to both sides before August 1.European Council President: The EU remains fully supportive of efforts to reach a fair agreement with the United States.

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

Daniel Rogers

Nov 22, 2022 14:59

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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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