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Japans Topix index fell 1%.On August 14, Brazilian President Lula approved the launch of the "Brazil Sovereignty Plan," which will implement various measures to counter the impact of increased US tariffs and encourage investment in strategic sectors to safeguard Brazils economic development. According to an announcement released by the Brazilian presidential palace that same day, the Brazilian government will provide preferential loans to businesses affected by US tariffs through various guarantee funds, with financing also available to small and medium-sized enterprises. The government will allow severely impacted businesses to defer federal tax payments and extend tax rebates for companies planning to export to the US, encouraging sales to other countries. Furthermore, the government will modernize the export guarantee system and increase support for mid- and high-tech, green economy exporters.On August 14th, the Ifo Institute, a German economic research think tank, released a survey on the 13th local time, showing that nearly half of German economists gave a negative review of the economic policies of Chancellor Merzs new government. The Ifo Institute stated that the economists surveyed believed the new government lacked structural reforms. The survey, conducted from July 29th to August 5th, surveyed 170 German economics professors. The results showed that 42% of respondents gave a negative assessment of the economic policies of Merzs "Black-Red Coalition" (a ruling coalition of the Christian Democratic Union and the Social Democratic Party) in its first 100 days in office, while only 25% gave it a positive rating.As a severe thunderstorm area associated with Typhoon Yangliu is affecting Hong Kong, the Hong Kong Observatory has issued a black rainstorm warning signal.Lenovo Group (00992.HK) announced on the Hong Kong Stock Exchange on August 14th that its R&D expenditure for the first quarter of fiscal year 2026 increased by 10% year-on-year, demonstrating the groups long-term commitment to driving hybrid artificial intelligence innovation. Revenue and operating profit for the Intelligent Devices Business Group increased by 18% and 15% year-on-year, respectively, primarily driven by increased penetration of AI-powered PCs and rapid growth in high-end product sales. The company also achieved a new high in global PC market share, and its smartphone business achieved seven consecutive quarters of double-digit year-on-year revenue growth.

Eyes AUD/JPY 94.00 Prior to the release of China's GDP, the focus shifts to the RBA Minutes.

Larissa Barlow

Apr 18, 2022 09:43

The AUD/JPY pair is trading in a narrow range of 92.82-93.90 as investors anticipate the publication of China's National Bureau of Statistics' Gross Domestic Product (GDP) figures in Asia. The cross has been heading higher for an extended period, despite broader yen weakening.

 

It's worth mentioning that Australia is the world's largest exporter to China, and its better GDP figures will benefit the Australian dollar. The market consensus for China's annual GDP is 4.4 percent for the first quarter of CY22, down from 4% previously, while a preliminary estimate for China's annual industrial production is 4.5 percent, down dramatically from the previous number of 7.5 percent.

 

This week's big event will be the release of the Reserve Bank of Australia's (RBA) April monetary policy minutes. The minutes of the RBA will detail the mathematics underlying RBA Governor Philip Lowe's neutral stance. Additionally, information about Australian inflation will assist market participants in fine-tuning their strategies. Meanwhile, according to Reuters, the Bank of Japan (BOJ) is anticipated to maintain its ultra-loose monetary policy despite an upward revision to inflation expectations. Additionally, the agency claimed that the BOJ is projected to lift its fiscal 2022 inflation prediction to above 1.5 percent from the current 1.1 percent in April, while lowering its fiscal 2022 growth forecast from the current 3.8 percent.

AUD/JPY

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