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Goldman Sachs: Expects the Federal Reserve to cut interest rates by 25 basis points each in December 2026 and March 2027, down from previous forecasts of cuts in September and December of this year.May 11 - According to data from the China Passenger Car Association, retail sales of new energy passenger vehicles in April reached 849,000 units, a year-on-year decrease of 6.8% and a month-on-month decrease of 0.3%; from January to April, retail sales of new energy passenger vehicles reached 2.758 million units, a year-on-year decrease of 17.2%.On May 11, the Heilongjiang Provincial Communications Administration issued a notice soliciting public opinions on the "Heilongjiang Provinces 15th Five-Year Plan for the Development of the Information and Communication Industry (Draft for Comment)". The draft states that by 2027, the layout of new information infrastructure will be basically complete. 5G networks will cover cities, counties, towns, and scenic areas. Gigabit fiber broadband will achieve full coverage in urban and rural areas, and key industrial parks will achieve "10-gigabit backbones". By 2030, a high-speed, ubiquitous, integrated terrestrial and satellite information infrastructure, cloud-network convergence, intelligent and agile, green and low-carbon, and secure and controllable intelligent comprehensive information infrastructure will be basically completed.China Passenger Car Association (CPCA) reported that retail sales of passenger cars in China reached 1.384 million units in April, a year-on-year decrease of 21.5%.N Changyu triggered a second temporary suspension, with its stock price surging nearly 700% intraday and trading volume exceeding 1.6 billion yuan.

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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