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Sources say discussions about a U.S. negotiators trip to Ukraine are still ongoing, with both teams having mentioned September 6 as a possible date.On September 4th, Beata Manthey, chief analyst at Citigroup, stated that after a difficult period, European stocks, closely linked to the economy, are presenting an attractive entry point. With improving economic data and increased policy support, some of the hardest-hit sectors in Europe may have passed their most difficult period. Citigroups Economic Surprise Index, revised earnings forecasts across a broad range of sectors, and the steadily recovering business activity since the summer all indicate that the European economy is heading in the right direction. Manthey stated that European policymakers are taking concrete measures to protect industry development. She cited the automotive and chemical industries as examples, noting that these sectors previously faced significant pressure but may now have passed their most difficult phase. Furthermore, the recently introduced steel tariffs have already driven up domestic steel prices in Europe, while benefiting European steel producers who are exempt from these tariffs.Eurozone retail sales fell 0.6% month-on-month in July, below the expected 0.3% and the previous figure revised from -0.30% to 0.2%.Eurozone retail sales rose 0.6% year-on-year in July, below the expected 1.1% and the previous figure revised from 0.70% to 1.4%.On September 4, 2026, local time, Ding Xuexiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, co-chaired the 23rd meeting of the China-Russia Energy Cooperation Committee with Russian Deputy Prime Minister Novak in Vladivostok. Ding Xuexiang put forward three suggestions for further deepening bilateral cooperation: First, to continuously consolidate existing energy cooperation achievements, actively and properly address various demands from enterprises, maintain the long-term sustainable development of oil and gas trade, and promote the orderly construction and stable operation of energy projects. Second, to actively explore new areas and directions for energy cooperation, deeply explore the potential for cooperation in cutting-edge fields, explore the two-way empowerment of artificial intelligence and energy, and continuously broaden the breadth and depth of energy cooperation. Third, to jointly promote the reform of the global energy governance system and make greater contributions to ensuring energy security and sustainable development for both countries and the world. During the meeting, the two sides reviewed cooperation in the fields of oil, natural gas, coal, electricity, renewable energy, and nuclear energy, exchanged in-depth views on further cooperation, and reached broad consensus.

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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