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On May 28th, He Xiaopeng, Chairman of XPeng Group (09868.HK), stated during the companys Q1 earnings call that the R&D of XPengs next-generation IRON humanoid robot, geared towards mass production, is progressing smoothly and is about to enter the ET2 hardware and software integration phase, with a planned official launch in Q3 this year. XPeng aims to achieve mass production of high-end humanoid robots by the end of this year, initially for trial commercial use in XPeng stores, and starting deliveries to commercial customers in China and overseas next year. From next year onwards, revenue from humanoid robot hardware and AI model revenue will be one of the key drivers of XPeng Groups revenue and gross profit growth.On May 28th, He Xiaopeng, Chairman of XPeng Group (09868.HK), stated during the companys Q1 earnings call that the fully redundant XPeng GX fleet is already conducting small-scale public road L4 testing in Guangzhou. XPeng aims to launch a passenger-carrying Robotaxi demonstration operation service in Guangzhou in the third quarter of this year. Furthermore, He Xiaopeng revealed that XPengs advanced intelligent driving system has begun certification in Europe, and the second-generation VAL is currently being tested there. The company hopes to obtain regulatory approval from several European countries by early next year and gradually roll it out to users. He Xiaopeng stated that XPeng will build a win-win Robotaxi ecosystem. After the second-generation VAL is launched overseas, XPeng will actively explore deploying economical Robotaxi services in both domestic and overseas markets.European Central Bank meeting minutes: Some officials believe that some second-round effects are inevitable.European Central Bank meeting minutes: Even if a clear agreement is reached to end the war, inflation risks are unlikely to reverse quickly.ECB meeting minutes: Members generally agreed that there was no strong evidence of a second-order effect.

USD/CHF Consolidates Around 0.9040 As Attention Shifts To US Inflation

Daniel Rogers

Apr 10, 2023 14:27

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The USD/CHF pair continues to trade lacklusterly above the crucial support level of 0.9036 in the early Tokyo session. Investors are shifting their focus to Wednesday's release of United States Consumer Price Index (CPI) data, making it difficult for the Swiss Franc to gain traction.

 

As tensions between China and Taiwan escalate, S&P500 futures have pared some of their gains. The market's anxiety has been alleviated by the increasing intensity of Chinese military exercises around Taiwan Island. In addition, concerns of a recession are likely to cause volatility in US equities.

 

Jamie Dimon, CEO of JPMorgan Chase, stated in an interview with CNN that the recent banking turmoil caused by the dissolution of Silicon Valley Bank (SVB) and Signature Bank has increased the likelihood of a recession in the United States.  Despite the robustness and security of the banking system, the recent turmoil in the financial system is "another weight on the scale" toward recession, he added.

 

The US Dollar Index (DXY) is protecting the 102.00 support level ahead of US Consumer Price Index (CPI) data. According to the consensus, headline inflation will fall from 6.0% to 5.2%. In addition, the headline monthly CPI would decelerate to 0.3% from 0.4% previously reported. As a consequence of oil prices remaining low in March, inflationary pressures are anticipated to become evident.

 

In contrast, the core CPI, which excludes crude and food prices, is anticipated to increase to 5.6% from 5.5%. The tenacity of inflationary pressures is maintained by the resiliency of demand for essential products, as a result of a higher labor cost index. A similar event could compel the Federal Reserve (Fed) to raise rates again at its May monetary policy meeting.

 

Regarding the Swiss Franc, Swiss markets are suspended on Easter Monday. This week, the Producer Price Index (PPI) data will have an impact on the Swiss Franc.

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