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On November 18th, Baidus Q3 financial report showed that Carrot Expresss global ride-hailing service reached 3.1 million trips in Q3, a year-on-year increase of 212%, continuing to accelerate compared to the 148% growth rate in Q2. In October, Carrot Expresss weekly fully driverless rides exceeded 250,000. As of November, the cumulative number of global ride-hailing services exceeded 17 million. It is understood that Carrot Expresss footprint has covered 22 cities worldwide, with fully driverless mileage exceeding 140 million kilometers and total autonomous driving mileage exceeding 240 million kilometers.On November 18th, Baidu released its Q3 2025 financial report, showing total quarterly revenue of 31.2 billion yuan and core revenue of 24.7 billion yuan. In Q3, Baidu disclosed its AI business revenue for the first time, showing a year-on-year growth of over 50%. Specifically, AI cloud revenue increased by 33% year-on-year; AI application revenue reached 2.6 billion yuan; and AI-native marketing service revenue increased by 262% year-on-year to 2.8 billion yuan.On November 18, Geely Automobile (00175.HK) announced that it has entered into a share repurchase agreement with independent broker Morgan Stanley & Co. International plc, under which the broker or its affiliates will repurchase shares on the Hong Kong Stock Exchange for a maximum amount of HK$2.3 billion. These repurchases will be conducted in accordance with the predetermined parameters set out in the repurchase agreement and at the sole discretion of the broker (independent of the company and its connected persons).Baidu (BIDU.O) rose more than 2.5% in pre-market trading.Baidu (BIDU.O): In the third quarter, revenue from AI-driven businesses increased by more than 50% year-on-year, reaching approximately RMB 10 billion.

AUD/USD jumps to approximately 0.6820 before to the Reserve Bank of Australia's policy announcement

Alina Haynes

Dec 05, 2022 14:17

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During the Tokyo session, the AUD/USD pair enjoyed a substantial rebound following a corrective decline below 0.6780. In response to the risk appetite profile, the Australian dollar has accelerated to roughly 0.6820 and is expected to continue its gains above the previous week's 0.6845 high.

 

In the meantime, the US Dollar Index (DXY) has climbed somewhat sideways above Friday's low of 104.40, as bullish market sentiment has lessened the desirability of safe-haven assets. The optimistic Nonfarm Payrolls (NFP) report from the United States has failed to strengthen the US Dollar. Compared to the previous report, the US economy added 263,000 jobs in November, an increase of 53 percent. In addition, the yearly increase in the labor cost index has reached 5.1%.

 

As households acquire more disposable income, a robust labor market and rising wages indicate a rise in inflationary pressures. This may lead to a rise in demand for perishable and durable goods, hence supporting price rises.

 

On the antipodean front, investors await Tuesday's announcement of the Reserve Bank of Australia's (RBA) interest rate decision. We anticipate another 25 basis point (bps) increase at the final monetary policy meeting of the year on December 6, bringing the OCR to 3.10 percent, according to economists from UOB Group.

 

Notably, this might be RBA Governor Philip Lowe's third consecutive 25-bps rate increase. The monthly Consumer Price Index (CPI) decreased from 7.1% in September to 6.9% in October. Inflation remains well above the target of 2%, necessitating a continuation of policy tightening.

 

Moreover, investors will track the Caixin Service PMI data. It is anticipated that the economic statistics will be somewhat higher at 48.8 than the previous report of 48.4.


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