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Voyah Automobile: 15,146 vehicles were delivered in April 2026, a year-on-year increase of 51%.On May 1, a spokesperson for the Ministry of Commerce stated: The U.S. Federal Communications Commission (FCC) has abandoned the principle of technological neutrality, overgeneralized the concept of national security, and frequently introduced restrictive measures without factual basis, discriminating against companies and products from other countries, including China, seriously damaging the interests of China and other relevant trading partners. These restrictive measures undermine the hard-won stability of China-U.S. economic and trade relations and violate the consensus reached by the two heads of state. China is highly concerned and firmly opposes this.On May 1st, Zheng Shanjie, Director of the National Development and Reform Commission, published an article in Qiushi magazine entitled "Promoting Chinese-Style Modernization through High-Quality Implementation of the 15th Five-Year Plan." The article states that developing new productive forces is an inherent requirement and key focus of high-quality development, and an inevitable choice for gaining a competitive edge in international competition. It emphasizes accelerating high-level scientific and technological self-reliance. This includes focusing on strengthening original innovation and tackling key core technologies, and increasing the proportion of funding for basic research. It also stresses reinforcing the leading role of enterprises in scientific and technological innovation, and promoting the aggregation of innovation resources such as projects, platforms, data, and talent to enterprises. Furthermore, it calls for integrated development of education, science, and talent, strengthening planning coordination, policy synergy, resource allocation, and evaluation linkage. Finally, it emphasizes seizing the opportunities presented by digital and intelligent development, promoting the large-scale, intensive, green, and inclusive development of computing resources, strengthening the supply of high-quality data resources, and deepening and expanding "artificial intelligence +".SAIC Motor Passenger Vehicle: From January to April 2026, the retail sales of Roewe and MG exceeded 302,000 units, a year-on-year increase of 5.8%; the retail sales in April exceeded 78,000 units, a year-on-year increase of over 15.5%.On May 1st, Indian Oil Corporation (IOC) announced it would maintain domestic jet fuel prices unchanged for May. This comes after several airlines warned of potential service disruptions due to supply shortages caused by the conflict in Iran. The Indian refiner, Indias largest, has set a benchmark for the industry, maintaining domestic jet fuel prices at 104,927 rupees per kiloliter (approximately US$1,105). However, according to its website, the company will be raising prices for international operators, though the specific amount was not disclosed. Global airlines are facing operational disruptions due to jet fuel shortages caused by the Middle East conflict. The aviation industry is highly sensitive to fuel price increases, with fuel costs accounting for up to 40% of operating expenses. Even small increases can significantly impact profitability and ticket prices.

The USD/JPY Currency Pair Swings in a 60-Pip Range as Bulls Reclaim 124.00 on a Positive Note

Drake Hampton

Apr 08, 2022 10:07

Tips

  • The USD/JPY is up 1.26 percent this week.

  • The greenback strengthens as investors shrug off geopolitical concerns.

  • Forecast for the USD/JPY Exchange Rate: As bulls, we are leaning upward and are aiming for the YTD high of 125.10.

 

As the Asian Pacific session opens, USD/JPY pair extends its weekly gains on broad US dollar strength. The USD/JPY remains strong at 124.15, after trading in a tight 55-pip range over the last three days as the Eastern Europe conflict between Russia and Ukraine enters its sixth day.

 

Asian market futures continue to trade higher, despite the ongoing Russia-Ukraine confrontation. Contrary to the positive tone of Asian market futures, which point to a stronger open, US equities concluded the afternoon in a divided mood. Investors shrugged aside Russia-Ukraine tensions on Thursday, despite Russian Foreign Minister Sergei Lavrov's complaint that Ukraine's new draft accord submitted to Russia does not meet Russia's demands on Crimea and Donbas. Meanwhile, recent reports indicate that Russia is regrouping soldiers in preparation for another offensive aimed at reclaiming Ukraine's eastern territories, Donetsk and Luhansk.

 

The North American session on Thursday featured Fed speakers, lead by St. Louis Fed President James Bullard, who stated that the Fed is still behind the curve in its efforts to contain inflation. Bullard said that by the second half of the year, he would like to see the Federal Funds Rate (FFR) at 3.5 percent.

 

Later that day, Chicago Fed President Charles Evans indicated that "we (the Fed) will reach neutral by the end of this year or early next."

 

On the Japanese docket, the Current Account for February and Consumer Confidence for March would be the headline economic data releases. On the US front, Wholesale Inventories for February will be released on a monthly basis. 

USD/JPY Forecast: Technical Analysis

The USD/JPY continues bullish, but the average daily range (ADR) has been 55 pips during the last three days. Daily moving averages (DMAs) below the spot price further reinforce the uptrend, and it's worth noting that the 100-DMA at 109.48 is on the verge of crossing over the 200-DMA at 109.60.

 

With that considered, the first resistance level for the USD/JPY would be 124.00. If the latter is breached, the March 29 daily high of 124.30 will be revealed, followed by the year-to-date high of 125.10.


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