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Russian Ministry of Defense: Russian air defense systems intercepted and destroyed 44 Ukrainian drones over multiple locations in Russia.June 17th - John Velis, an analyst at BNY Mellon, stated that the upcoming Federal Open Market Committee (FOMC) statement is expected to clearly indicate two-way risks to short-term interest rates, consistent with the three dissenting opinions expressed at the last FOMC meeting in late April. A new Summary of Economic Projections (SEP), or "dot plot," will be released. The head of Americas strategy expects the median forecast for the end of 2026 to eliminate the expectation of a single rate cut that has been present in previous cycles.On June 17th, the official WeChat account of the Sichuan Provincial Bureau of Statistics released key economic indicators for the province from January to May 2026. In the first five months, the added value of Sichuans industrial enterprises above designated size increased by 6% year-on-year, and the sales rate of products from these enterprises reached 95.1%. By product, natural gas production increased by 2%, electricity generation by 2.4%, smart TVs by 59.2%, lithium-ion batteries by 57.2%, integrated circuits by 18.4%, industrial robots by 12.3%, and LCD screens by 9.3%. Regarding fixed asset investment, in real estate development, Sichuans real estate development investment decreased by 7.8% year-on-year; the construction area of commercial housing decreased by 13.2% year-on-year, and the sales area of newly built commercial housing decreased by 13.1%.On June 17th, the Beijing Municipal Bureau of Economy and Information Technology issued the "Several Measures of Beijing Municipality on Supporting Industrial Enterprises to Improve Quality and Efficiency," which proposes to promote the market promotion capabilities of exhibition platforms. The measures aim to fully leverage the stimulating effects of various conferences and exhibitions in Beijing in promoting consumption, investment, industry, and facilitating trade. Key exhibitions will be encouraged to set up special zones for Beijing-made intelligent products, such as smart devices, high-end chips, smart wearable devices, and intelligent connected vehicles, to strengthen scenario demonstrations and promotion. Enterprises are encouraged to utilize various exhibition platforms to conduct market promotion activities such as new product displays, technology promotion, supply and demand matching, and order negotiations, continuously enhancing the brand influence of Beijing industrial products.British Chancellor of the Exchequer Reeves: Despite the Middle East wars driving up global prices, our economic plans have been effective and inflation has remained stable.

Despite the dovish BOJ minutes, the AUD/JPY encounters obstacles at 95

Daniel Rogers

Jul 26, 2022 11:56

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The early hours of the Tokyo session saw the AUD/JPY pair present a downward breach of the minute consolidation formed in a range of 94.97-95.18. As a result, the pair is now falling. The asset has generally held up well, and this little decline can be attributed to market participants "taking gains." Since the Bank of Japan (BOJ(released) )'s dovish minutes from its monetary policy meeting in June, the risk barometer has decreased.

 

The BOJ Governor Haruhiko Kuroda kept the same interest rate policy last week, so investors should be mindful of this. In order to keep an inflation rate above the desired threshold, the BOJ kept its ultra-loose monetary policy in place. Its unwillingness to raise pay rates is becoming a significant barrier, though, and inflation rates higher than 2% are rarely justified by rising energy and food prices. In addition, the BOJ announced that it will continue to buy an unlimited number of bonds in order to maintain its bond yield cap.

 

Investors are eagerly awaiting the release of Australian Bureau of Statistics' inflation statistics on Wednesday in the aussie market. The predicted increase in the overall Consumer Price Index (CPI) for the second quarter of CY2022 is 6.2 percent, up from the previously estimated 5.1 percent. The Reserve Bank of Australia (RBA) will be forced by this to increase interest rates even further in its monetary policy for August. Following a 50 basis point (bps) hike in July, Governor Philip Lowe of the RBA has already increased the Official Cash Rate (OCR) to 1.35 percent.


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