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On August 12th, China Resources Land (01109.HK) announced that for the month ended July 31, 2026, the Company and its subsidiaries achieved total contracted sales of approximately RMB14.1 billion and total contracted sales area of approximately 410,000 square meters, representing year-on-year growth of 6.0% and a decrease of 11.0%, respectively. For the first seven months of 2026, cumulative contracted sales amounted to approximately RMB130.6 billion, with a total contracted sales area of approximately 3.573 million square meters, representing year-on-year growth of 5.7% and a decrease of 22.0%, respectively. In July 2026, the Groups recurring revenue was approximately RMB4.41 billion, representing year-on-year growth of 5.6%, of which rental income from operating real estate rental business was approximately RMB2.86 billion, representing year-on-year growth of 6.6%. The company’s cumulative recurring revenue for the first seven months of 2026 was approximately RMB 30.88 billion, representing a year-on-year increase of 7.3%. Of this, rental income from operating real estate rental business was approximately RMB 20.73 billion, representing a year-on-year increase of 11.7%.On August 12th, the Peoples Bank of China (PBOC) released its 2026 Q2 China Monetary Policy Implementation Report. Since the beginning of this year, influenced by factors such as the tense situation in the Middle East, international crude oil and commodity prices have risen, and inflation levels in major economies have generally increased due to external supply shocks. Recently, the monetary policies of major overseas central banks, such as the Federal Reserve and the European Central Bank, have shown adjustments or tendencies towards adjustments, which may have spillover effects on the global economy and financial markets. The monetary policy stances of major overseas central banks are trending towards a shift. As of the end of July, among the central banks of major developed economies, the European Central Bank and the Bank of Japan had raised interest rates, while the Federal Reserve maintained its interest rate but released hawkish signals. It is expected that this round of monetary policy adjustments by major central banks will be relatively mild. Over the past decade or so, monetary policy adjustments by major central banks have often had significant spillover effects on the global economy and financial markets. However, based on the current situation, it is expected that the magnitude of this round of monetary policy adjustments will be relatively mild, and the impact may be smaller than in the past.A senior Iranian source said the United States violated the interim agreement just 48 hours after it was reached and withdrew from it a few days later.A senior Iranian source stated that there have been no discussions between Iran and the United States regarding extending the ceasefire. From Irans perspective, the ceasefire agreement has no effective date, therefore there is no need to extend it.Market sources indicate that a senior Iraqi security delegation will visit Saudi Arabia tomorrow to discuss a range of security issues.

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.