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Japanese Prime Minister Shigeru Ishiba: Rice prices need to be reduced to a reasonable level.On May 19, according to the public prospectus, TSMC (TSM.N) will issue the second unsecured ordinary corporate bond of the year in June, totaling NT$14.1 billion, all of which are green bonds. The 5-year interest rate rose to 1.92%, with an issuance of NT$12.5 billion; the 10-year interest rate was 2.05%, with an issuance of NT$1.6 billion.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: Refused to comment on the US rating downgrade.On May 19, Xiaomi announced today that it will hold a Xiaomi strategic new product launch conference at 7 pm on May 22. At that time, Xiaomi will launch the new mobile phone SoC chip Xuanjie O1, the new flagship Xiaomi 15S Pro and Xiaomi Tablet 7 Ultra, as well as the new Xiaomi YU7, Xiaomis first SUV.On May 19, by the location of business units, in April, the retail sales of consumer goods in urban areas was 3237.6 billion yuan, a year-on-year increase of 5.2%; the retail sales of consumer goods in rural areas was 479.8 billion yuan, an increase of 4.7%. From January to April, the retail sales of consumer goods in urban areas was 14043.3 billion yuan, an increase of 4.7%; the retail sales of consumer goods in rural areas was 2141.2 billion yuan, an increase of 4.8%. By consumption type, in April, the retail sales of goods was 3300.7 billion yuan, a year-on-year increase of 5.1%; catering revenue was 416.7 billion yuan, an increase of 5.2%. From January to April, the retail sales of goods was 14365.1 billion yuan, an increase of 4.7%; catering revenue was 1819.4 billion yuan, an increase of 4.8%. By retail formats, from January to April, the retail sales of convenience stores, specialty stores, supermarkets, department stores and brand stores in retail units above the limit increased by 9.1%, 6.4%, 5.2%, 1.7% and 1.4% year-on-year respectively.

On dovish BOJ bets, AUD/JPY seeks to retake a seven-year high above 97.00

Daniel Rogers

Jul 20, 2022 12:02

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The AUD/JPY currency pair is on course to retake its seven-year high of 96.90 after extending its five-day winning run. Due to the increasing potential of a wider policy divergence between the Reserve Bank of Australia (RBA) and the Bank of Japan, market participants have raised the risk barometer (BOJ).

 

Following the publication of the RBA's July monetary policy minutes, the Australian dollar is performing well against the Japanese yen. RBA officials offer harsh guidance in light of the intensifying price pressures in the Australian economy. While establishing price stability as soon as feasible is the RBA's goal.

 

RBA Governor Philip Lowe is now presenting at "The Australian Strategic Business Forum - Melbourne" on the topics of inflation, productivity, and the future of money. The comments RBA made According to Lowe, investors could expect higher inflation in June. The RBA will require more rate increases over the coming months in an effort to reduce pricing pressure.

 

This week, the Australian S&P PMI data will be the most important. The Manufacturing PMI may rise to 56.4 from its previous reading of 56.2. The Services PMI has increased from its previous reading of 52.6 to a current value of 55.

 

The headline-grabbing event on the Tokyo front will be the BOJ's announcement of its interest rate decision on Thursday. Given that the Bank of Japan is committed to increasing aggregate demand, Governor Haruhiko Kuroda is expected to make dovish comments. The central bank's goal is to keep inflation over 2%, and in order to do this, the wage price index must rise. This is because a higher inflation rate and lower pay levels might magnify the real income shock.