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On July 18, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto in Shanghai. Airlangga Hartarto was in China to attend the World Artificial Intelligence Conference. Wang Yi emphasized that under the strategic guidance of the two heads of state, the building of a China-Indonesia community with a shared future has made positive progress in recent years. As representatives of the Global South and emerging economies, China and Indonesia share similar development goals, extensive common interests, and obvious complementary advantages. Both sides should strengthen the alignment of their development strategies, move in the same direction, actively interact, eliminate interference, maintain focus, and continuously deepen mutually beneficial cooperation in various fields, setting an example of solidarity, mutual assistance, and self-reliance in the Global South. China appreciates the Coordinating Ministers reiteration of welcoming Chinese enterprises to invest and cooperate in Indonesia and hopes that Indonesia will provide a fair and just business environment for this. China-Indonesia cooperation is not directed against any third party and should not be interfered with by any third party. Both sides should take the lead in upholding the multilateral trading system, jointly oppose "decoupling and supply chain disruptions," and safeguard the security and stability of global supply chains. China is willing to work closely with Indonesia in international and regional affairs to promote the building of a China-Indonesia community with a shared future with regional and global influence, contributing to the common development of both countries and humanity.The Iranian Revolutionary Guard launched a devastating missile and drone strike on fighter bunkers and large aircraft parking aprons at a U.S. military base in Azraq, Jordan.Following important instructions from General Secretary Xi Jinping and requirements from Premier Li Qiang, Zhang Guoqing, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, on behalf of the CPC Central Committee and the State Council, led officials from relevant departments to Pengshui County, Chongqing, on the evening of the 17th to guide the search and rescue and emergency response work at the site of the landslide disaster. Zhang Guoqing emphasized the need for all-out scientific search and rescue efforts, strict prevention of secondary disasters, and meticulous resettlement and basic living security for the affected people.July 18th - According to reports from Kyodo News and other media outlets, Apple Inc. raised the prices of its iPhones in Japan on the 17th due to the depreciation of the yen and soaring semiconductor prices. The report indicates that, according to Apples official Japanese website, the official prices of multiple iPhone models have increased across the board. Among them, the higher-priced iPhone 17 Pro Max increased from 194,800 yen to 214,800 yen, an increase of 20,000 yen (approximately 834.6 yuan), or about 10.3%. Industry analysts believe that Apple may have adjusted the prices of its products due to exchange rate fluctuations.On July 18th, several foreign institutions expressed optimism about Chinas AI industry chain, noting that investing in it has become a global consensus. Data shows that China currently produces over 1.5 billion chips daily, and its large-scale models handle trillions of words daily, ranking first in the world. This year, the growth rate of Chinas core AI industry is expected to continue exceeding 30%. A recent industry research report from Goldman Sachs points out that the current total market capitalization of Chinas AI sector is approximately $4 trillion, indicating significant growth potential compared to its own industrial advantages. UBS, in its recent China equity strategy report, also noted that demand for AI technology components in China remains very strong, with orders already booked until the end of 2027.

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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