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On July 16th, the National Center for Disease Control and Prevention (CDC) held a press conference. Chang Zhaorui, a researcher at the Infectious Disease Department of the Chinese Center for Disease Control and Prevention, stated that since October 2025, my countrys COVID-19 epidemic has remained at the inter-epidemic level for eight and a half consecutive months, indicating relatively low viral activity. The epidemic saw a slight increase in late May this year, but returned to a low-epidemic level by mid-June. Recently, the positive rate of COVID-19 tests at sentinel hospitals nationwide has increased, suggesting that although the epidemic is on the rise, it remains at a low-epidemic level overall. The main circulating strain in my country is still the NB.1.8.1 series variant, and current monitoring shows no new variants that may pose additional public health risks. Currently, the COVID-19 epidemic has evolved into a common respiratory infectious disease, and there is no need for excessive anxiety regarding normal fluctuations in the epidemic.On July 16th, according to South Korean media reports, SK Hynix raised a massive 40 trillion won (approximately US$30.76 billion) through its listing on the Nasdaq in the United States, aiming to solidify its leading position in the artificial intelligence (AI) semiconductor market. Jensen Huang, CEO of Nvidia (NVDA.O), the global leader in the AI chip market, offered his congratulations on the listing. According to industry sources, on July 16th, after concluding an event held in Tokyo, Japan the previous day, Huang expressed extreme delight at SK Hynixs American Depositary Receipts (ADR) listing, calling it "extremely successful."Omron: Will expand its cooperation with NVIDIA in the field of semiconductor wafer inspection technology.NVIDIA (NVDA.O): Fujitsu, FANUC, Yaskawa Electric and Kawasaki Heavy Industries will collaborate to develop a physical AI industrial platform using the NVIDIA platform.On July 16th, CLSA issued a research report predicting that Baidus (BIDU.O) core business revenue in the second quarter of 2026 will decline by 4.2% year-on-year to RMB 25.1 billion. Marketing revenue is expected to decline by approximately 22% year-on-year due to continued disruptions to the search business. AI cloud infrastructure revenue is expected to grow by 56% year-on-year to RMB 7.6 billion, while subscription revenue will see its year-on-year growth further accelerate from 184% in the first quarter. Dragged down by a decline in high-margin online marketing revenue and increased investment in model training, CLSA currently estimates that Baidus adjusted core EBIT in the second quarter will decline by 14% year-on-year to RMB 3.8 billion, with an adjusted EBIT margin of approximately 15%. CLSA believes that Baidus AI transformation path is not smooth. Insufficient model competitiveness may lead to a further slowdown in the search business, and the lack of MaaS and application revenue in the cloud business will further complicate matters. CLSA has lowered its adjusted net profit forecasts for 2026 and 2027 by 24% and 18%, respectively, and lowered its target price for Baidus US-listed shares from $176 to $150, while maintaining its "Outperform" rating.

Prior to the release of Australian employment data, the AUD/JPY pair attempts to regain 89.00

Alina Haynes

Apr 12, 2023 13:44

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The AUD/JPY pair attempts to reclaim the critical resistance level of 89.00 during the Asian session. Kazuo Ueda, the governor of the Bank of Japan (BoJ), has advocated for an extension of the already decade-long ultra-loose monetary policy in order to consistently achieve an inflation rate above 2%.

 

The decelerating Producer Price Index (PPI) contradicts the optimistic outlook of the Japanese government regarding wage growth. As expected by market participants, the March PPI did not change. The annual PPI came in at 7.2%, which was higher than the consensus estimate of 7.1% but lower than the previous release of 8.1%. The inability of companies to sustain accelerating production rates at factory gates is indicative of weak household demand.

 

Analysts at Commerzbank anticipate that the Japanese Yen will only appreciate over the long term if the current monetary policy is abandoned quickly.

 

Regarding the Bank of Japan's (BoJ) Yield Curve Control (YCC), the IMF has stated that allowing more flexibility in YCC could have repercussions for global markets, but it could also prevent future policy shifts that could result in significant spillovers.

 

Investors are awaiting the March Employment Report for fresh impetus in the Australian Dollar. The market expects the Australian economy to add 20,000 employment, which is less than the previous estimate of 64.6K. While the Unemployment Rate is expected to rise to 3.6% from 3.5% in February, it is anticipated that the Unemployment Rate will increase to 3.6%.

 

Governor Philip Lowe of the Reserve Bank of Australia (RBA) has left the door open for additional rate hikes if Australian inflation persists, so the publication of stronger-than-expected employment gains could reignite fears of additional rate hikes.

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