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OpenAI: Starting next week, ChatGPT advertising will expand to 31 European countries.On August 19th, Morgan Stanley lowered its core revenue forecasts for Baidu (BIDU.O) by 1% to 9% for 2026 to 2028, and its non-GAAP operating profit forecasts by 6% to 31%, to reflect weak revenue and increased investment in artificial intelligence. The target price for Baidus US-listed shares was significantly lowered by 38.5% to $80 from $130, equivalent to a 2027 projected price-to-earnings ratio of 10x, and the rating was downgraded from "Equal-weight" to "Underweight".DecisionTable, a U.S. election forecasting organization, predicts that Democrat Mary Peltola will advance to the U.S. Senate race in Alaska.DecisionTable, a U.S. election forecasting organization, predicts that Republican Senator Sullivan will advance to the U.S. Senate race in Alaska.On August 19th, Morgan Stanley issued a report stating that Xiaomi Group (01810.HK) reported adjusted net profit of RMB 6.219 billion in the second quarter, a 43% year-on-year decrease but a 2% quarter-on-quarter increase. Revenue and gross margin from the smartphone business significantly exceeded the banks expectations, while revenue from the electric vehicle and IoT businesses slightly missed expectations. Management stated that the increase in storage prices will normalize in the second half of the year, which is expected to reduce the negative impact on smartphone gross margins. The bank expects smartphone gross margins to remain resilient in the second half of the year, becoming a positive surprise and a catalyst for revaluation. Morgan Stanley maintains its "Overweight" rating on Xiaomi with a target price of HKD 32.

The AUD/JPY exchange rate fluctuates below 90.00 as investors await BoJ action

Alina Haynes

Jan 18, 2023 15:03

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In the early Asian session, the AUD/JPY currency pair is bouncing violently in a narrow range below the resistance level of 90.00. Before the Bank of Japan introduces its first monetary policy of CY2023, the risk barometer indicates a sideways auction (BoJ). The AUD/JPY exchange rate reflects the consolidation of the AUD/USD, indicating an uncertain risk profile.

 

Investors anticipate that the Bank of Japan (BoJ) will not alter its policy stance on Friday, as doing so would increase financial market risk and hinder efforts to boost inflation. Previously, the Bank of Japan (BoJ) announced that the central bank will review the negative side effects of the decade-long ultra-loose monetary policy, generating the impression that the central bank is eager to abandon the easy policy.

 

The experts at Standard Charted expect the Bank of Japan to hold both the policy balance rate and the 10-year yield goal at their present levels of -0.1% and 0%, respectively. The recent decision to expand the 10-year JGB band to +/-50 bps (from +/-25 bps) will be evaluated by policymakers at the December meeting.

 

The replacement of current Governor of the Bank of Japan Haruhiko Kuroda will be widely followed. The next BoJ governor nominee is anticipated to be presented to the Japanese parliament on February 10, Reuters reported on Tuesday. Amamiya, Nakaso, and Yamaguchi are regarded as leading C.banking candidates.

 

Thursday is the expected publication date for Australian employment statistics, which investors are monitoring. The Unemployment Rate is expected to remain constant at 3.4%, according to the majority of economists. Aside from this, the Australian economy must have added 22,500 new jobs to the labor market in December, a down from the prior rises of 64K.

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