EUR/USD 1.16114
-0.048%
Gold 4528.37
-0.323%
Oil 96.488
-0.716%
USD/JPY 159.026
0.031%
GBP/USD 1.34262
-0.034%
GBP/JPY 213.498
-0.001%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Hang Seng Index continued its upward trend before midday, rising more than 1%, with Lenovo Group (00992.HK) leading the constituent stocks with a gain of over 15%. The Hang Seng Tech Index is currently up 1.7%.A Reuters poll shows that 14 of 27 economists expect the Reserve Bank of New Zealand (RBNZ) to raise the official cash rate to 2.50% or higher by the end of the third quarter; the median forecast for the official cash rate at year-end is 2.75% (compared to 2.50% in the April survey). 28 of the 29 economists expect the RBNZ to keep the cash rate at 2.25% on May 27.Samsung Electronics shares fell 2%.On May 22, Li Chao, Deputy Director of the Policy Research Office and Spokesperson of the National Development and Reform Commission, stated at a press conference that the core technologies and application demands in the field of artificial intelligence are showing rapid growth. We consistently adhere to a systematic approach, sector-specific policies, openness and sharing, and security and controllability, promoting the extensive and deep integration of artificial intelligence with all sectors of the economy and society. We guide domestic large-scale models to increase their adaptation to domestic computing chips, ensuring independent control, ethical development, and steady progress while maintaining rapid development, so that all people can share the fruits of artificial intelligence development. This is also a prominent feature of my countrys artificial intelligence development.The main fuel oil contract fell by 2.00% during the day, and is currently trading at 4037.00 yuan/ton.

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

Alina Haynes

Apr 12, 2023 13:44

 AUD:JPY.png

 

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.

Suggestion