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Market news: The meeting between Ukrainian President Zelensky and Trump has ended, and Zelensky will leave the White House.July 28 - According to data from the Japan Meteorological Agency, more than 100 perceptible earthquakes have occurred in Kumamoto as of 11:30 p.m. local time since the earthquake struck this afternoon (July 28).July 28 - According to foreign media reports, Trump and Ukrainian President Zelensky met at the White House on Tuesday. The meeting had not been officially confirmed beforehand, but a White House source revealed that the talks began at 9:47 a.m. Eastern Time (evening Beijing Time). The two leaders are expected to discuss diplomatic efforts to end the war in Ukraine.July 28 - The Conference Boards Consumer Confidence Index for July fell to 90.8 from a revised 92.2 in June, below the forecast of 92.3, indicating that households overall view of the labor market remains weak. "In July, consumer feedback on factors affecting the economy remained predominantly pessimistic," said Dana Peterson, chief economist at the Conference Board. "Notably, there was a slight increase in mentions of employment and unemployment."July 28th - As listed companies release their semi-annual reports and earnings forecasts, the robotics sector is seeing a surge in positive earnings reports for the first half of this year. From core components to complete machine integration, from motion control to AI computing hardware, the robotics industry chain is transitioning from a phase of "concept-driven growth" to a new stage of "order volume and profit realization." Data from the Ministry of Industry and Information Technology shows that from January to May, the revenue of large-scale robotics enterprises in my country exceeded 90 billion yuan, a year-on-year increase of 26.9%, with an average annual growth rate of over 20% in the past five years. One robotics company just released a new humanoid robot at the end of last month, and within less than a month, it has received orders for tens of thousands of units. Another company executive stated that their frameless motors, a core component for humanoid robot joint drives, have already exceeded 1 million units in orders in the first half of this year, more than nine times the number from last year.

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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