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JiKrypton: In June 2026, JiKrypton delivered 35,169 new cars, a year-on-year increase of 111%; from January to June, it delivered a total of 178,370 cars, a year-on-year increase of 97%.On July 1st, the Shanghai Stock Exchange announced that the secondary market trading price of Invesco Great Wall Global Chip LOF (501225) was significantly higher than its net asset value per unit, exhibiting a substantial premium. Trading in the fund will be suspended from the opening of the market on July 1st, 2026, until the market closes on the same day. Redemption services will continue as usual during the suspension period.Wenjie Auto: 30,199 new cars were delivered in June, and the cumulative deliveries in the first half of the year increased by 10.2% year-on-year.The yield on Japans 40-year government bonds fell 2.0 basis points to 3.785%.On July 1st, European Central Bank (ECB) Governing Council member Demarco stated that the ECB should not rush into further interest rate hikes given the unexpectedly rapid decline in oil prices. The ECB raised rates in June, with its own forecasts based on further policy tightening. However, the rapid decline in energy costs in the following weeks strengthened the case for delaying further rate hikes. Demarco stated that lower energy costs should quickly alleviate inflation expectations and curb wage increases. This statement further strengthens the ECBs rationale for keeping rates unchanged this month, after several policymakers had previously called for patience and a pause in further action. Demarco stated that there is only reason to raise rates now if a second round of inflationary effects occurs, inflation expectations decouple, or wage increases become more prevalent. "We havent seen these scenarios yet, so given that oil prices have fallen back to levels similar to those before the conflict, we can wait for the next round of forecasts rather than hastily raising rates again and risking unnecessary damage to economic growth." He also noted that even in the more dovish scenario in the latest forecast, there is still an assumption of further policy tightening. Therefore, if future data confirms this scenario, the European Central Bank may still need to raise interest rates further.

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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