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On January 8th, it was reported that Colombian President Petro Perez and US President Donald Trump spoke by phone on January 7th local time. The Colombian Foreign Ministry confirmed that the call lasted approximately 15 minutes.On January 8th, the National Healthcare Security Administration issued a notice on vigorously promoting convenient payment methods such as facial recognition payment, one-code payment, mobile payment, and credit payment, addressing pain points and bottlenecks related to medical treatment and payment. The notice aims to accelerate the implementation of these methods in various medical scenarios and strive to fully establish a convenient medical insurance payment system within approximately three years. According to the notice, the first batch of pilot cities should include at least two cities in each province. Each province must ensure that the first batch of pilot areas and designated medical institutions are effectively implemented by 2026, achieve basic full coverage of all coordinated areas within the province by 2027, and fully implement the system in all eligible designated medical institutions within the province by 2028.Japans overtime pay rose 1.2% year-on-year in November, up from 1.5% in the previous month.Japans November labor cash income rose 0.5% year-on-year, below the expected 2.30% and the previous figure revised from 2.60% to 2.50%.January 8th - According to reports on January 7th local time, European natural gas inventories have fallen to their lowest level since the outbreak of the Russia-Ukraine conflict. Current inventories are far below the five-year average, less than 60%, and the EU may face the risk of a natural gas shortage. According to data from the European Gas Infrastructure Association (GLE), as of January 4th, the storage capacity of underground natural gas storage facilities in Europe was only 59.9%. This level typically only occurs at the end of January in previous winters and is about 13% lower than the average for early January over the past five years. Gazprom warned that the EU may face a natural gas shortage due to the abnormally rapid decline in natural gas reserves in underground storage facilities this heating season.

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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