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On August 3, AMEC announced that it expects its revenue for the first half of 2026 to be approximately RMB 6.691 billion, representing a year-on-year increase of approximately 34.89%; net profit attributable to owners of the parent company is expected to be between RMB 2.7 billion and RMB 2.9 billion, representing a year-on-year increase of 282.48% to 310.81%; and net profit excluding non-recurring gains and losses is expected to be between RMB 1 billion and RMB 1.2 billion, representing a year-on-year increase of 85.61% to 122.73%. In the same period last year, revenue was RMB 4.961 billion, net profit attributable to owners of the parent company was RMB 706 million, and net profit excluding non-recurring gains and losses was RMB 539 million.On August 3rd, Federal Reserve Chairman Williams stated that he remains optimistic that inflationary pressures will gradually ease, but if this does not happen, the Fed will not hesitate to raise interest rates to ensure that price pressures return to the target level. In an interview with Reuters last Friday, Williams said that if energy prices and trade tariffs have peaked and the economy continues its robust momentum, "I think some of the major factors that have driven up inflation over the past year and a half will no longer play such a significant role, and some of the downward pressures we have previously observed should reappear." He added, "I am watching the core inflation data very carefully over the next few months to see if it aligns with the trend of inflation moving towards and continuing to decline toward 2%, thus ensuring that we can achieve our long-term stable 2% inflation target by 2028." He also stated, "I personally predict that inflation will decline somewhat in the second half of this year and further decline next year." Williams reiterated that the current interest rate policy stance is "in a favorable position" to bring inflation back to the target level. However, he pointed out, "If we are not on track to bring inflation down to 2%... then taking action to get us back on the 2% inflation track is entirely appropriate."GameStop (GME.N) fell 3.1% in pre-market trading after the company announced it would conduct a private placement of $1.4 billion in convertible notes in exchange for shares.Note: Federal Reserves Williams gave an interview last Friday, and the interview has just been released.Federal Reserves Williams stated that investments in artificial intelligence will not pose a risk to financial stability. He is not surprised by the volatility in the AI industry.

AUD/USD falls to approximately 0.67 as a result of less hawkish RBA minutes

Daniel Rogers

Mar 21, 2023 14:05

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As a result of the publication of minutes from the Reserve Bank of Australia (RBA) that were less hawkish, the AUD/USD pair has declined to near 0.6705. Given that inflation was still too high, the labor market was constrained, and business surveys indicated robust activity, the Board reaffirmed that additional policy tightening would likely be required. The RBA policymakers viewed a 25 basis point (bps) rate increase as the only viable option for March's monetary policy.

 

Investors should be aware that RBA Governor Philip Lowe raised the Official Cash Rate by 25 basis points to 3.60 percent for the fifth consecutive time. In addition, it was the RBA's eleventh consecutive increase in interest rates to combat persistent inflation.

 

Recent optimistic Australian employment data indicate that the fight against persistent inflation is extremely complicated and that RBA policymakers are still required to make challenging decisions in times of inflation uncertainty and global banking collapse concerns.

 

In the Asian session, S&P500 futures have extended Monday's gains as investors disregard concerns over the Federal Reserve's (Fed) impending monetary policy, indicating a further improvement in market participants' risk appetite.

 

The US Dollar Index (DXY) has remained relatively stable around 103.30 as investors anticipate a less hawkish monetary policy and interest rate guidance. Fed Chair Jerome Powell is required to restore investor confidence following the failure of three midsize commercial banks in the United States. This could be accomplished through minor adjustments to interest rate policy.

 

In the interim, the demand for U.S. government bonds has weakened further as inflation expectations have risen as a result of the collaborative effort of various central banks to support commercial banks by providing liquidity assistance in the form of US dollars. This has led to higher yields on US Treasury bonds. The yield on the 10-year Treasury note has risen to 3.5%.


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