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On February 15th, Tesla CEO Elon Musk revealed that Tesla (TSLA.O) will cease selling its Full Self-Driving (FSD) assistance system on a one-time payment basis, instead adopting a monthly subscription model. This change will take effect after February 14th. Tesla previously sold the system for a one-time payment of $8,000 or a monthly subscription fee of $99. While Musk did not explain the reason for this adjustment, his compensation is partly dependent on business growth. According to the compensation plan approved by shareholders last November, Tesla must achieve several targets, including reaching 10 million FSD subscribers, before Musk can receive additional stock awards. Furthermore, it was reported that in Australia, the deadline for the one-time purchase option has been postponed to March 31st.February 15 - Japanese police said on February 15 local time that a stabbing incident occurred in Dotonbori, Chuo Ward, Osaka City in the early hours of the day, resulting in the death of one victim. Police have taken a male suspect in his 20s into custody.On February 15th, it was reported that on February 14th local time, the U.S. Department of Justice sent a letter to members of Congress explaining the redacting of documents in the Jeffrey Epstein case. The letter outlined the types of redacting and provided a detailed list of numerous prominent or "politically sensitive" individuals mentioned in the documents, even though they had no direct contact with Epstein or his ex-girlfriend and accomplice Maxwell, but were mentioned in news clippings and other sources.February 15th - According to statistics released by the State Administration of Foreign Exchange (SAFE), in January 2026, banks settled 2.0048 trillion yuan in foreign exchange and sold 1.4457 trillion yuan; banks foreign exchange receipts on behalf of clients totaled 5.4722 trillion yuan, while their payments totaled 4.8974 trillion yuan. Li Bin, Deputy Director and Spokesperson of SAFE, explained that in January, both the banks foreign exchange settlement surplus and the net inflow of cross-border funds from non-bank sectors such as enterprises and individuals declined compared to the previous month. This was mainly due to seasonal factors; while corporate receipts and settlements increased rapidly, the growth slowed recently as demand gradually increased. "Overall, my countrys foreign exchange market is active, expectations are stable, and cross-border capital flows are becoming more stable," said Li Bin.On February 15th, a netizen raised a question on social media: SpaceX is shifting its focus from Mars to the Moon and plans to build an autonomous city on the Moon within ten years, but why is it making this change? Musk responded: "It needs to be clear that we will continue to advance the Mars program. I believe this adjustment will not affect the timeline for the autonomous development of a Martian city by more than five years, and may even accelerate the development process on Mars."

As the BoJ ponders a YCC expansion, EUR/JPY continues to decline, falling below 142.60

Alina Haynes

Apr 06, 2023 11:52

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After plunging below 142.60 during the Asian trading session, the EUR/JPY pair's three-day losing trend was extended. Renewed rumors of an expansion of the Bank of Japan's (BoJ) Yield Curve Control (YCC) are exerting immense pressure on the cross.

 

The Japanese economy is experiencing gradual wage growth, and inflation is expected to respond to recent increases in crude oil prices. Analysts at Wells Fargo believe the BoJ will take advantage of a tactical opportunity to further modify its policy settings in the fourth quarter of 2022, and are inclined toward a meeting in October. They added that this timeframe is optimal for a smooth policy adjustment, as monetary easing from the Federal Reserve (Fed) and other major central banks should alleviate yield pressure.

 

In particular, the Bank of Japan (BoJ) will raise the target yield for 10-year Japanese government bonds (JGBs) from 0% to 0.25% and increase the tolerance interval surrounding this target to +/- 75 basis points.

 

Accelerating PMIs in the Eurozone provide support for the European Central Bank's sustained rate hikes. (ECB). S&P Global reported a Composite PMI of 53.7 on Wednesday, which was higher than the previous release of 52.0 but below expectations of 54.1, the highest level in the past ten months.

 

According to Reuters, S&P Global issued the following statement: "Manufacturing production increased slightly, but the service sector had the greatest impact on March's accelerated growth."

 

Wednesday, ECB policymaker Boris Vuji stated regarding interest rate forecasts, "The majority of the rate-hiking cycle has passed." He added, "We may require additional rate increases to address core inflation."

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