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August 11th - According to meteorological forecasts, over the next three days, under the combined influence of Typhoon Dolphin and cold air, heavy rain or torrential rain is expected in central and southern Beijing, Tianjin, and other areas. The National Meteorological Center continued to issue an orange alert for heavy rain at 6:00 AM on August 11th. In accordance with the "National Flood and Drought Relief Emergency Plan" and relevant regulations, the State Flood Control and Drought Relief Headquarters and the Ministry of Emergency Management decided to activate a Level IV flood control emergency response for Beijing and Tianjin at 9:00 AM on August 11th.On August 11th, data released by the China Index Academy showed that from January to July, the number of foreclosed residential properties listed for auction nationwide reached 245,000 units, an increase of 23.1% year-on-year; 89,000 units were sold, an increase of 42.7% year-on-year; the clearance rate was 36.2%, an increase of 4.97 percentage points compared to the previous year; and the total transaction amount reached 96.975 billion yuan, an increase of 21.04% year-on-year. The average transaction price of foreclosed residential properties from January to July was 8,081 yuan/㎡, a decrease of 9.1% year-on-year.Hong Kong stocks in the new consumption sector fluctuated and weakened, with Shanghai Auntie (02589.HK) falling more than 3%, Laopu Gold (06181.HK) falling more than 2%, and Guming (01364.HK) and Mingming Very Busy (01768.HK) following suit.August 11th - According to Jiji Press, citing sources, the Bank of Japan (BOJ) may consider raising interest rates again at its next policy meeting on September 17-18, following its June rate hike, to address rising inflation risks. Japanese prices are likely to rise further due to rapid growth in demand related to artificial intelligence, a sharp depreciation of the yen, and rising oil prices. Previously, many financial market participants expected the BOJ to raise interest rates approximately every six months. However, according to the meeting summary released on Monday, some policy board members at the BOJs latest policy-making meeting held on July 30-31 indicated that the pace of rate hikes should be accelerated. One member stated that "the pace of policy rate increases may exceed market expectations," while another member stated that the BOJ needs to "accelerate the pace of adjustment in the degree of monetary easing."On August 11th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.0510%, and the lowest was 0.7030%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0030%, and the lowest was 0.9030%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0650%, and the lowest was 0.9000%.

AUD/JPY Exceeds 90.30 As RBA Considers Option To Raise Rates Prior To Pause

Daniel Rogers

Apr 18, 2023 14:02

AUD:JPY.png 

 

Following the release of the minutes from the Reserve Bank of Australia (RBA), the AUD/JPY pair surged above the 90.30-point critical resistance level. According to the RBA minutes, policymakers actively considered the decision to raise rates further. However, the decision to maintain the status quo was made after the collection of additional data.

 

Citing the resilience of Australia's financial system, RBA policymakers believed that the Board's future cash rate decisions would depend on the global economy, household spending trends, inflation projections, and employment forecasts.

 

Continue to monitor China's Gross Domestic Product (GDP) statistics. Compared to its stagnant performance in the final quarter of CY2022, the Chinese economy is estimated to have grown by 2.2%. Compared to the previous annual growth rate of 2.9%, the current annual growth rate for the economy is 4.0%. Australia is China's greatest trading partner, and stronger Chinese GDP data would strengthen the Australian Dollar.

 

The announcement of the People's Bank of China (PBOC) interest rate decision later this week will be crucial. Last week, the People's Bank of China pledged to provide additional monetary support to spur retail demand. Despite the reopening of China's economy following a period of economic restraint, the country's inflation rate has been consistently declining over the past few months.

 

According to Jiji news and Reuters, the Bank of Japan is reportedly considering a projection for consumer price growth between 1.6% and 1.9% for the 2025 fiscal year, a move seen as preventing market participants from betting on the central bank's departure from stimulus. This has also delayed the possibility of a shift away from an expansionary monetary policy, which cannot be considered until the Japanese inflation rate persists above 2%.


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