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July 29th - For a long time, the core technologies for high-end motorcycle engines worldwide were monopolized by a few foreign companies. Recently, Chinese automakers have successfully broken this barrier. A high-speed motorcycle test was recently held at the China Communications Construction Company (CCCC) Comprehensive Test Track in Shangrao, Jiangxi Province. After multiple rounds of extreme sprints, a domestically produced motorcycle achieved a test speed of 315.82 kilometers per hour, successfully breaking the speed record for domestically produced motorcycles and shattering the monopoly of Japanese, German, and Italian brands in the high-performance motorcycle engine market. This breakthrough in core motorcycle engine technology is rapidly translating into orders in the global market. In the first half of this year, exports from domestic motorcycle manufacturers increased by 23.99% year-on-year, with overseas markets becoming a significant driver of industry growth. A production manager at one company stated that from January to June this year, the company exported over 20,000 motorcycles, with products reaching Southeast Asia, Europe, and the United States, generating over 200 million yuan in output value, a year-on-year increase of 100%.Deutsche Banks European shares fell 5.9% after the bank released its earnings report.July 29th - The national carbon emissions trading market, launched in July 2021, has seen its cumulative transaction volume exceed 62.9 billion yuan as of July 28th this year. It covers four high-emission industries: power generation, steel, cement, and aluminum smelting, accounting for over 65% of my countrys total carbon dioxide emissions. It is projected that by 2027, the national carbon emissions trading market will essentially cover major emitting industries in the industrial sector, expanding its coverage to high-emission industries such as chemicals, petrochemicals, civil aviation, and papermaking. The carbon market is expected to cover approximately 80% of the nations greenhouse gas emissions.According to Fox News: The U.S. Senate continued to advance the Russia sanctions bill today.July 29th, Futures News – According to foreign media reports, Malaysias Ministry of Plantation Industries and Commodities (KPK) anticipates that increasing the biodiesel blending ratio in Peninsular Malaysia and Sabah from B10 to B12 or B15 will reduce diesel consumption by approximately 334,139 tons (386.73 million liters) annually, equivalent to extending the domestic diesel supply cycle by up to 20 days. 1. Strengthening National Energy Security Resilience: KPK points out that increasing the biodiesel blending ratio in the national transportation sector is a proactive measure in the face of geopolitical uncertainties and the global energy crisis. This move will reduce dependence on fossil fuels and enhance Malaysias overall resilience to global energy market supply disruptions and price fluctuations. 2. Idle Capacity Expected to Be Released: Malaysia currently has 20 biodiesel plants with a total capacity sufficient to support B30 blending demand. However, current actual demand is mainly for B10 at gas stations and B7 in some industrial sectors, with most plants not yet operating at full capacity. Increasing the blending ratio will directly improve this situation. 3. Smooth Transition to End-User Status and Long-Term Planning: B15 biodiesel is blended from 15% palm oil methyl ester (PME) and 85% petrochemical diesel, allowing end-users to directly replace B10 fuel without incurring additional costs. The Malaysian government plans to further advance the blending standards to B20, B30, and even B50 in the future.

AUD/NZD Extends Range Above 1.0950 As New Zealand Trade Balance Data Is Positive

Alina Haynes

Jan 30, 2023 15:29

AUD:NZD.png 

 

After opening with a gap down to 1.0926, the AUD/NZD pair displayed a robust recovery in the early Asian session. The cross is gaining ground despite the publication of upbeat New Zealand Trade Balance numbers.

 

December exports grew to $6.72 billion from $6.34 billion, while imports declined to $7.19 billion from $8.52 billion. The annual Trade Balance came in at -14.46 billion New Zealand dollars, as opposed to the previously stated -14.98 billion.

 

The New Zealand Employment Statistics, which will be issued on Wednesday, will provide investors with direction. It is projected that the Employment Change (Q4) will decrease to 0.7% from 1.3% in the previous publication. The unemployment rate is anticipated to hold steady at 3.3%. As a result of the Reserve Bank of New Zealand's decision to raise interest rates, the New Zealand economy is unable to create significant employment opportunities (RBNZ).

 

The labor cost index statistics will otherwise dominate the conversation. The employment bills index (annual) is anticipated to rise to 4.45 from 3.8% previously. And the expected quarterly figure is 1.3%, up from 1.1% in the previous report. Since households would have more liquid assets, a rise in labor expenses might keep inflationary pressures on the rise.

 

Notably, the New Zealand economy has shown no indications of inflation abating, as the annual Consumer Price Index (CPI) (Q4) grew to 7.2% from the consensus forecast of 7.1%, and an increase in retail demand will intensify inflationary pressures.

 

On the Australian front, investors are keeping a tight eye on Tuesday's retail sales report, which is expected to reveal a 0.3% fall from the previous release of 1.4%. This could reduce difficulties for the Reserve Bank of Australia (RBA), which is battling to contain the persistent inflation in the Australian economy.


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