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On July 29th, Malaysian Prime Minister Anwar Ibrahim announced that the Malaysian government will implement measures such as providing AI courses to young people of specific age groups to enhance their understanding and application of artificial intelligence (AI), thereby accelerating the development of Malaysias AI industry and the countrys digital transformation. Anwar announced the launch of the "AI for All" program. Starting August 31st, Malaysian youth aged 18 to 30 who complete designated AI-related courses will receive a free three-month subscription to mainstream AI software. The courses cover areas such as AI safety, generative AI, and cloud computing. The first phase is expected to benefit approximately 100,000 young people.July 29th - According to the Chosun Ilbo, Samsung Electro-Mechanics recently notified its sales partners that starting August 1st, the shipment price of its MLCC (Multi-Layer Ceramic Capacitor) products will be uniformly increased by 30% from the current level. Another leading MLCC manufacturer, Taiyo Yuden of Japan, has also issued a price increase notice, announcing that the price of its MLCC shipments will increase from September 1st. The reason given for the price increase is the sharp rise in the prices of raw materials and auxiliary materials. The company stated that it has been making almost every effort to reduce costs, but its own efforts alone are insufficient to fully absorb the increased costs.According to Israeli media, an Israeli who previously served in a secret military unit has been accused of spying for Iran and attempting to provide information.July 29th - On July 29th, the State Flood Control and Drought Relief Headquarters Office and the Ministry of Emergency Management continued to organize a joint consultation with the China Meteorological Administration, the Ministry of Water Resources, the Ministry of Natural Resources, the Ministry of Housing and Urban-Rural Development, the Ministry of Industry and Information Technology, and the Ministry of Transport to assess the development trend of heavy rainfall and deploy flood control work in key areas. The State Flood Control and Drought Relief Headquarters maintained the Level IV emergency response for flood control in Guangdong, Sichuan, and Gansu, and the Level IV emergency response for drought relief in Inner Mongolia, Xinjiang, and the Xinjiang Production and Construction Corps. The working group previously dispatched continues to guide flood control and disaster relief work in Guangdong. The consultation pointed out that, according to forecasts, over the next three days, there will be heavy to torrential rain in Central China, South China, northern Northeast China, central and eastern Northwest China, and eastern Southwest China, with heavy torrential rain in coastal areas of South China, the Sichuan Basin, and Heilongjiang. The rainfall will be widespread throughout the north and south, occurring simultaneously in multiple locations, making the flood control and disaster relief situation still severe and complex.July 29th, Futures News: Overall, we expect the Federal Reserve to maintain interest rates unchanged this time. In the short term, this decision will help stabilize the US economy and financial market sentiment, and will also provide some support for global oil demand, but it will not be the dominant factor determining the trend of international oil prices. In the coming months, the geopolitical situation in the Middle East, OPEC+ supply, and global oil demand will remain the three key variables affecting global energy market oil prices. Our baseline judgment on future oil price trends remains one of intense volatility followed by a gradual decline, with oil prices in 2027 generally lower than this year. At the same time, we continue to maintain our high and low scenario forecasts. Under the high and low scenarios, the annual average difference in Brent crude spot prices is $21/barrel this year, and will further widen to $48/barrel next year.

AUDJPY fails to exceed 94.00 prior to Australian Employment data

Alina Haynes

Nov 16, 2022 15:00

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The AUDJPY pair faces headwinds in the early Tokyo session as it attempts to hold above the important support level of 94.00. The asset has encountered resistance at 94.50 and is projected to stay volatile until the release of Australian employment data on Thursday.

 

As geopolitical tensions increase, the value of the cross has decreased. Following the expansion of Russian separatist military action into Poland, the risk profile has deteriorated. Russia has denied any participation in the incident, while Poland has demanded a meeting with NATO countries.

 

Despite the release of the Reserve Bank of Australia (RBA) minutes on Tuesday, the risk indicator remained relatively stable. In spite of an extraordinary spike in inflation to 7.3%, the RBA minutes showed a 75% chance of a 25 basis point rate hike.

 

The board concurred that acting consistently on policy rates would enhance the public's and financial market participants' faith in the monetary policy framework. In addition, RBA policymakers believed that the Official Cash Rate (OCR) had risen substantially in a short time. In addition, the anticipated interest rate has been raised to 8%.

 

Meanwhile, Japanese investors reacted less harshly to Tuesday's disappointing Gross Domestic Product (GDP) data. Contrary to forecasts of 0.3% growth and a previous declaration of 0.9%, the Japanese economy contracted 0.3% during the third quarter. Compared to the expected expansion of 1.1% and the prior release of 3.5%, the economic catalyst has revealed a negative growth rate of 1.2% on an annualized basis.

 

This week, the most important asset trigger will be the Australian payroll data. According to the consensus, the economy added 15,000 jobs in October, compared to a paltry gain of 900 jobs in September. The predicted unemployment rate is 3.6%, up from 3.5% in the previous report.


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