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The Peoples Bank of China (PBOC) announced today that it conducted 269.5 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 269.5 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.The main contract for the container shipping index (Europe route) rose 253.3 points during the day, currently trading at 2635.0 points, an increase of 10.64%.The yield on 30-year Japanese government bonds rose 4.0 basis points to 3.740%.On March 30, Atsushi Mimura, Japans top foreign exchange official, issued his strongest warning to speculators to date, stating that if current market conditions persist, authorities may need to take decisive intervention measures in the foreign exchange market. "We are increasingly aware that speculative activity is not only heating up in the crude oil futures market, but is also rapidly spreading in the foreign exchange market," Mimura said at a press conference on Monday. He emphasized, "If this trend continues, we believe that swift and decisive action may be imminent." Mimuras remarks came after the yen fell below the 160-dollar mark last week—the critical level at which the Japanese government plans to implement foreign exchange intervention in 2024. He added, "We are fully prepared to respond, with a broad and comprehensive monitoring scope," implying that the Japanese government is not only closely monitoring foreign exchange market movements but also simultaneously paying attention to related markets such as crude oil futures.LG Chem: The goal is to reach 2 trillion won in revenue from its semiconductor and electronic materials business by 2030, up from 1 trillion won currently.

AUD/USD reaches 0.6920 due to upbeat Australian Trade Balance report

Alina Haynes

Jan 12, 2023 14:48

AUD:USD.png 

 

The AUD/USD pair has surged above 0.6920 after the Australian Bureau of Statistics announced monthly Trade Balance (Nov) data that was stronger than anticipated. The economic statistics has climbed to 13,201M from 10,500M as predicted and 12,217M as originally published.

 

Prior to the presentation of the United States Consumer Price Index (CPI) statistics, investors abstained from acquiring considerable holdings in the Australian dollar.

 

After back-to-back solid sessions, S&P500 futures are witnessing mild selling pressure, signaling investor concern ahead of the US inflation report. The US Dollar Index (DXY) continued to struggle at 103.00 amid a dull trading environment. In the meantime, 10-year US Treasury yields have recovered and soared past 3.56 percent.

 

Analysts at RBC Economics forecast a dramatic decrease in annual U.S. consumer price increase in December, from 7.1% in November to 6.3%. The enormous fall in energy prices is partially responsible for the abrupt decline in price rise. In December, they estimate 'core' (excluding food and energy products) price growth to decrease to 5.6% YoY from 6.0% in October.

 

In the preceding two weeks, the US Dollar Index has been battered, and only an unexpected jump in inflation data could give a buffer for the future. In a broader sense, Wells Fargo analysts estimate that inflation will fall to 2.2% YoY by the end of the year.

 

The Australian Dollar will undergo volatility with the announcement of China's CPI numbers. According to forecasts, annual CPI (Dec) is predicted to grow to 1.8% from the previous report of 1.6%. While the monthly result may fall by 0.1% compared to the prior statement of -0.2%, the previous figure was -0.2%. In addition, the Producer Price Index (PPI) may drop by 0.1%.

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