EUR/USD 1.17013
-0.092%
Gold 4595.21
-0.042%
Oil 97.371
-0.115%
USD/JPY 159.682
0.043%
GBP/USD 1.35065
-0.081%
GBP/JPY 215.679
-0.031%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Volvo Cars CEO: (Regarding the US market) We underestimated the impact of subsidy removal on plug-in hybrid vehicles, resulting in a significant drop in sales.Volvo Cars CEO: We expect performance to begin to improve in China as we launch new versions of our locally developed cars, such as the XC70, to cover a wider market segment.Adidas: Sales have declined in several Middle Eastern countries due to the impact of the conflict.On April 29th, Citigroup Chief Economist Josh Williamson stated that weak core inflation data in Australia during the first quarter masked inflationary pressures stemming from the Middle East conflict. He indicated that high oil prices could increase inflationary pressures, potentially pushing overall inflation to 5.5% by mid-year, while core inflation would reach 3.8%. Williamson added that the Reserve Bank of Australia (RBA) is likely to raise its inflation forecast in May and raise interest rates in May and June, ultimately reaching a rate of 4.6%.On April 29th, Mike Sanders, Head of Fixed Income at Madison Investments, stated in a report that the market will be focused on how Federal Reserve Chairman Jerome Powell describes the committees consensus view on recent inflation and the future policy path, especially as Powells term as chairman is drawing to a close. "With rising oil prices potentially leading to persistently high inflation, investors will want to know as much as possible about the committees view on the balance of risks," he said. He added that the labor market is "okay, but not great," but rate cuts in a high-inflation environment would have a significant impact on the yield curve and the overall economy, while a near-term rate hike is not expected.

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%.


Suggestion