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On April 20th, six departments, including the Zhuhai Municipal Housing and Urban-Rural Development Bureau, issued a notice on optimizing and adjusting the citys real estate policies. The notice proposes optimizing housing provident fund loan policies. First, it increases the maximum housing provident fund loan amount. For eligible families with single or dual contributors, the maximum individual housing provident fund loan amount is increased from 800,000 yuan to 1 million yuan and from 1.3 million yuan to 1.5 million yuan, respectively. Second, it expands support for families with multiple children purchasing homes. For families with multiple children applying for a provident fund loan to purchase a second owner-occupied home, the loan amount can be increased by 20% on top of the available loan amount, but not exceeding the citys maximum provident fund loan limit. Third, it increases the upward adjustment ratio for loans to purchase green buildings. For employees who contribute to the housing provident fund and purchase commercial housing that meets the national standard for two-star green building or has been identified as a prefabricated building project, the loan amount can be increased by 20% on the basis of the available loan amount, but shall not exceed the maximum limit of housing provident fund loans in our city; for those who purchase commercial housing that meets the national standard for three-star green building, the loan amount can be increased by 30% on the basis of the available loan amount, but shall not exceed the maximum limit of housing provident fund loans in our city.CEO of chemical company Fertiglobe: Nitrogen fertilizer prices may rise further.Market news: The U.S. State Department announced the suspension of all consular services in Iraq and stated that some factions within the Iraqi government are providing cover for "Iranian-allian-linked Iraqi terrorist militias."April 20 - The Japan Meteorological Agency revised the magnitude of the earthquake that struck the northeastern coastal region of Japan to 7.7 and the depth to 20 kilometers.On April 20th, the Guangdong Provincial Party Committees Financial and Economic Affairs Commission held a meeting to analyze the economic situation in the first quarter and to plan and promote key projects for the next stage of economic work. Huang Kunming presided over the meeting, and Meng Fanli attended. The meeting emphasized the need to focus on the work in the second quarter and throughout the year, consolidating and expanding the positive momentum of the economy. It stressed the importance of comprehensively strengthening the foundation for industrial development, adhering to the principle of mutual promotion between industry and technology, and the coordinated development of manufacturing and service industries. This includes further strengthening pillar industries such as electronic information and new energy vehicles, accelerating the optimization and upgrading of traditional industries through technological innovation, brand cultivation, and standard leadership, strengthening the support of the service industry, and promoting the mutual achievement of a "manufacturing powerhouse" and a "service hub," thus better solidifying the "ballast stone" of the real economy. The meeting also emphasized the need to vigorously expand domestic and international markets, deepen the implementation of "Guangdong Trade Global," actively develop new forms and areas of foreign trade, and continue to successfully hold exhibitions such as the Canton Fair to better stabilize the international market.

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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