EUR/USD 1.14859
0.096%
Gold 4376.53
0.805%
Oil 95.469
-1.085%
USD/JPY 156.726
0.486%
GBP/USD 1.33935
0.269%
GBP/JPY 209.919
0.759%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 19th, Gong Jinfeng, General Manager of China Automotive Technology and Research Center Co., Ltd., stated at the 2026 China Automotive Industry Development (TEDA) International Forum that the automotive industry, as a core area of technological competition and industrial rivalry among major powers, is facing a profound adjustment in the global competitive landscape. Technological barriers, rule-based competition, and standards battles have become the core forms of industrial competition among major powers. In light of the current industry development situation, Gong Jinfeng offered several suggestions: First, focus on core technologies for intelligent connected new energy vehicles, continuously consolidate the leading advantages in industrial development, seize the opportunities presented by the "dual-carbon" strategy and the development of the digital economy, and strengthen collaborative innovation between industry, academia, and research. Second, deepen cross-sectoral integration and development, fully leverage the role of government-enterprise collaboration, deepen the pilot work on the access and passage of intelligent connected vehicles, support the large-scale and commercial application of vehicles with L3 and above autonomous driving capabilities, and promote the deep integration of the automotive industry with artificial intelligence and other related fields.On September 19, the U.S. State Department announced on September 18 that it had approved a $2.68 billion arms sale to Ukraine, providing equipment and services related to the development and upgrading of its air defense systems, and had notified Congress of this. The State Department stated that this arms sale will further enhance Ukraines air defense capabilities.On September 19th, Politico reported that AI giants Anthropic, OpenAI, SpaceX AI, and Google face conspiracy charges in a civil lawsuit filed Friday in federal court for recent calls to coordinate a slowdown in AI development. The complaint alleges that Anthropic CEO Dario Amodei publicly called earlier this month for “industry-wide coordination” to “set the pace for the frontier,” a call endorsed by SpaceX AI head Elon Musk, OpenAI CEO Sam Altman, and Google DeepMind co-founder Demis Hassabis. This, the complaint claims, constitutes an illegal business agreement between competitors under U.S. antitrust law. Nick Raleigh, one of the lawyers representing the four plaintiffs in the Northern District of California, stated that the case aims to ensure that private, self-serving agreements between the world’s most powerful for-profit tech companies do not lead to AI “rapidly spiraling out of human control.” He argued that humanity deserves unwavering protection when faced with threats of extinction, such as nuclear war, and the greatest risks in human history. The rule of law should be established transparently and legally by the U.S. government, and be accountable to the public.On September 19th, according to Jubo Information, the domestic petroleum coke market performed well this week, with overall prices trending upwards. For major oil companies, manufacturers had no inventory pressure and were mainly fulfilling existing orders; supply was tight in some areas, leading to price increases for some coke. For independent refineries, market transactions fluctuated, with coke prices rising initially and then falling, and overall production and sales slightly weakening throughout the week. Increased maintenance shutdowns at coke plants this week led to a decline in the overall operating rate, and the petroleum coke market is expected to fluctuate within a range in the short term. Regarding LNG, of the 133 domestic LNG plants, 70 were under maintenance/shutdown/suspended quoting/domestic sales, resulting in an overall operating rate of 47%. Influenced by factors such as raw material gas auctions and supply-side production contraction, domestic LNG market prices fluctuated upwards this week. Multiple positive factors supported the market, leading to strong bullish sentiment and price increases from manufacturers in many regions; however, downstream demand remained weak, with companies showing increasing reluctance to purchase due to high prices, resulting in limited procurement and sluggish sales for some manufacturers, leading to price declines in some areas. The domestic LNG market is expected to consolidate in the near term.According to Politico: Anthropic, OpenAI, SpaceX AI, and Google are being sued for calling for a “slowdown” in AI development.

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