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The UK Maritime Trade and Operations Authority stated that the maritime security threat level in the Strait of Hormuz remains extremely high due to the blockade.On May 30, the Ukrainian Presidential Press Service announced that Volodymyr Zelenskyy signed two presidential decrees formally implementing measures by the National Security and Defense Council of Ukraine in conjunction with EU sanctions. This round of sanctions covers a total of 120 individuals and related organizations. It is understood that these sanctions are based on the EUs 20th round of sanctions and focus on key sectors of the Russian economy. Russia has not yet responded.On May 30th, Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), stated that global auto sales reached 96.89 million units in 2025, a year-on-year increase of 6%. Global auto sales in April 2026 reached 7.99 million units, a year-on-year increase of 4%. From January to April 2026, global auto sales reached 30.96 million units, a year-on-year increase of 1%. With the relatively negative growth in the US and Chinese auto markets at the beginning of the year, global auto sales growth in the first four months of 2026 is expected to be weak. China accounted for 35.4% of the global auto market in 2025; at the beginning of 2026, Chinas share was 30.9%, a relatively low start due to the Spring Festival effect. As the effects of policy stimulus gradually recover and become apparent, the Chinese auto market is expected to gradually strengthen starting in the second half of the year.Mohsen Rezaei, military advisor to Irans Supreme Leader: The US presidents continued naval blockade and excessive demands mark the third time he has betrayed diplomacy.May 30th - Question: On May 29th, the European Commission held a plenary meeting to discuss relations with China. What is the Ministry of Commerces view on this? Answer: China has noted the EUs discussions on relations with China. China and the EU are important economic and trade partners on an equal footing and based on mutual benefit. We hope the EU will abide by WTO rules, uphold free trade and fair competition, and firmly oppose protectionism and unilateralism. Communication channels between China and the EU are open, and both sides are exploring the establishment of a trade and investment consultation mechanism and will conduct relevant dialogues. We hope the EU will work with China to jointly implement the consensus reached by the leaders of both sides, properly handle differences and frictions through dialogue and consultation, and promote the stable and healthy development of China-EU economic and trade relations. If the EU insists on unilaterally introducing new trade instruments and adopting discriminatory restrictions, China will resolutely retaliate and take effective measures to safeguard its own interests.

Before the PBoC's monetary policy announcement, AUD/JPY recovers strongly from 92.00

Alina Haynes

Feb 20, 2023 11:14

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Despite a difficult start to the Tokyo session at 92.10, the AUD/JPY pair has gained momentum. The risk barometer has recovered to approximately 92.30 and is expected to continue its upward trend in the near future. Ambassador Linda Thomas-Greenfield, the US representative to the United Nations, declared on Sunday that China would cross a "red line" if it sent lethal military help to Russia in response to its invasion of Ukraine.

 

According to Reuters, recent news from public broadcaster NHK that Japan's Coast Guard said North Korea fired three projectiles that may have been ballistic missiles has compounded the already negative market sentiment.

 

When the United States conducted bilateral air exercises with South Korea and Japan in response to the North's ICBM launch on Sunday, Kim Yo Jong, the sister of North Korean leader Kim, warned against the escalating deployment of U.S. strategic weapons on the Korean peninsula.

 

Investors await the People's Bank of China's interest rate announcement for additional guidance (PBoC). Eight out of 10 economists, according to a Reuters poll published on February 17, believe that the PBoC would retain the Loan Prime Rate (LPR) at 3.65%. After the abolition of currency restrictions, China is required to maintain an expansionary monetary policy to stimulate economic growth.

 

Bloomberg stated that Goldman Sachs predicts the MSCI China Index could reach 85 by the end of 2023, a nearly 24% increase from current levels, as the nation's economic opening generates windfall advantages for corporations.

 

Notably, Australia is a major trading partner of China, and the increased economic activity in China will benefit the Australian Dollar.

 

On Tuesday, preliminary Jibun Bank PMI (Feb) data will be released, which will have a substantial impact on the Japanese Yen. The Manufacturing PMI is expected to remain constant at 48.9, whilst the Services PMI is expected to increase from 51.1 to 51.5.

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