EUR/USD 1.13411
-0.252%
Gold 3375.30
-1.609%
Oil 59.171
0.778%
USD/JPY 143.031
0.411%
GBP/USD 1.33465
-0.173%
GBP/JPY 190.898
0.280%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to THE Information: OpenAI hopes to convince Microsoft to agree to give up its profit rights in exchange for traditional equity. Microsoft hopes to gain access to OpenAIs technology after 2030.On May 7, Li Yunze, director of the Financial Supervision Bureau, said at a press conference held by the State Council Information Office that the role of insurance funds as patient and long-term capital should be fully utilized, and efforts to enter the market to stabilize the market should be increased. Three measures will be introduced in the next step to support a stable and active capital market. First, the pilot scope of long-term investment of insurance funds will be expanded to inject more incremental funds into the market; second, the regulatory rules on solvency will be adjusted to further reduce the risk factor of stock investment by 10%, and insurance companies will be encouraged to increase their efforts to enter the market; third, a long-term assessment mechanism will be promoted to promote long-term money and long-term investment.On May 7, Li Yunze, director of the Financial Supervision Bureau, said at a press conference held by the State Council Information Office that stabilizing the property and stock markets is of great significance to boosting social expectations and unblocking the domestic demand cycle. In terms of stabilizing the property market, the Financial Supervision Bureau has approved white-list loans from commercial banks to 6.7 trillion yuan.Li Yunze, director of the State Financial Regulatory Administration, said at a press conference held by the State Council Information Office on May 7 that the long-term reserves for pension and health insurance exceed 10 trillion yuan.The New Taiwan dollar turned from appreciating by more than 1 cent to depreciating against the U.S. dollar in early trading, closing at 30.285.

AUD/JPY remains around 95.00, and a greater policy difference between the RBA and BOJ is likely

Alina Haynes

Sep 02, 2022 14:46

 截屏2022-09-02 上午10.05.46.png

 

The Australian Dollar/Japanese Yen exchange rate has been volatile during the Tokyo trading session, moving in a slightly wider range of 94.77-95.20. In the meantime, investors have been watching the asset's price closely ahead of next week's monetary policy decision by the Reserve Bank of Australia (RBA). The cross has shown a sideways auction over the previous two trading sessions despite the issuance of a dismal Caixin Manufacturing PMI.

 

Following a downward revision, economic indicators now stand at 49.5, which is lower than both the prior report of 50.4 and the consensus expectation of 50.2. Fears of a recession have been exacerbated by the Chinese government's lockdown restrictions in the face of a rebound in Covid-19 cases.

 

As China's largest trading partner, Australia could feel the effects of China's weak economic performance if the latter continues to struggle.

 

Policy divergence between the Reserve Bank of Australia and the Bank of Japan could widen after next week's RBA interest rate announcement (BOJ). RBA Governor Philip Lowe is expected to announce a fourth consecutive 50 basis point rate hike in light of mounting inflationary pressures in the Australian economy (bps). To account for this possibility, the OCR will go up to 2.35 percent.

 

In the meantime, the weak yen is causing rising import prices in Japan. The private sector faces headwinds from expensive inputs, which significantly impact margins. Positive Retail Trade figures this week did not help the Japanese yen. Compared to the predicted 1.9% and the prior announcement of 1.5%, annual retail sales jumped dramatically to 2.4%.

Suggestion