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On November 26th, after Ukraine agreed to a "simplified" version of its 28-point peace plan, Trump touted significant progress in his peace efforts. However, reports indicate that the most intractable issues in the Russia-Ukraine conflict remain unresolved. The Financial Times reported that US and Ukrainian negotiators left key issues regarding territorial concessions and security guarantees "for further discussion," leaving the decision to Trump and Zelensky. This suggests that negotiations have made little progress compared to before the 28-point plan was leaked last week. The 28-point plan, spearheaded by US Special Envoy Vitkov, heavily favored Russias core demands and included a series of unacceptable clauses for Ukraine, including a ban on future NATO membership and the cession of most of the Donbas region in eastern Ukraine. It remains unclear what Ukraine agreed to in the 19-point plan. The Financial Times quoted Ukraines First Deputy Foreign Minister as saying, "Very little of the original agreement has been retained."On November 26th, the overnight SHIBOR was 1.3160%, unchanged from the previous trading day. The 7-day SHIBOR was 1.4530%, up 2.00 basis points; the 14-day SHIBOR was 1.5070%, down 3.30 basis points; the 1-month SHIBOR was 1.5190%, down 0.10 basis points; and the 3-month SHIBOR was 1.5790%, down 0.10 basis points.On November 26th, Nomura issued a report stating that NIO (NIO.N) saw a significant improvement in its profit margin in the third quarter, creating the possibility of adjusted break-even in the fourth quarter, but its fourth-quarter shipment guidance was lower than expected. Nomura maintained its target price of $8.40 for the groups US-listed shares and reiterated its "Neutral" rating. The report stated that NIOs third-quarter revenue increased by 17% year-on-year to RMB 21.8 billion, basically at the lower end of the groups guidance, as third-quarter shipments reached 87,000 vehicles, also at the lower end of guidance. Gross margin improved by 3.1 percentage points year-on-year to 13.9%, with automotive gross margin improving by 1.6 percentage points year-on-year to 14.7%, exceeding the banks and market expectations.Reserve Bank of New Zealand Governor Hawkesby: 2026 will be a period of decline in inflation towards 2% and economic recovery.Reserve Bank of New Zealand Governor Hawkesby: The committee is more comfortable with inflation expectations than earlier this year.

Before UK Employment And Japan GDP Data, GBP/JPY Recovers Above 158.50

Daniel Rogers

Feb 13, 2023 14:37

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In the early hours of Tokyo, GBP/JPY surpassed 158.50. After Friday's significant swings, it is anticipated that the cross's volatility will decrease. As the likelihood of scholar Kazuo Ueda being appointed the next Governor of the Bank of Japan (BoJ) grew, the Japanese Yen witnessed extreme volatility.

 

According to the Nikkei Asian Review, the Japanese Cabinet is anticipated to appoint Kazuo Ueda as the next Governor of the Bank of Japan (BoJ) when Haruhiko Kuroda steps down in April. According to sources, the Japanese government would appoint former FSA Chief Himino and BoJ Executive Director Shinichi Uchida as Deputy BoJ Governor.

 

The announcement prompted the Japanese Yen to climb perpendicularly, but Kazuo Ueda's assertion that the current monetary policy was appropriate halted the increase. Prime Minister Fumio Kishida of Japan reaffirmed that the administration will consider ending the decade-long expansionary approach under the new leadership of the Bank of Japan. Kazuo Ueda's divergent position on monetary policy diminished the likelihood of a withdrawal from accommodative monetary policy.

 

Investors are awaiting the Japan GDP (Q4) report on Tuesday. The growth of economic data is 2% annually and 0.5% quarterly.

 

British investors await employment data to determine the direction of the Pound. The three-month unemployment rate stays unchanged at 3.7%. Without incentives, average earnings are expected to increase by 6.5%. The Bank of England (BoE), which is battling inflation, may confront additional obstacles.

 

If we achieve our goal of halving inflation this year, we will have some of the best growth prospects in Europe, according to the British minister of finance, Jeremy Hunt.

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