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June 28th news, the United States is expected to make important decisions on trade and fiscal policy in July. While these decisions may cause volatility, we do not expect a lasting impact on strong growth or markets in the United States. The environment of falling interest rates and yields supports stocks and high-quality bonds, while the US dollar will continue to show signs of weakness. After the recent strong gains, the return expectations for global stocks in the rest of the year seem limited.According to TASS: The Russian Defense Ministry said that Russia has taken control of Chervona Zirka in eastern Ukraine.June 28 news: On June 27, local time, Ukrainian President Zelensky issued a decree to adjust the composition of the Supreme Command. According to the decree, Myhaylo Drapaty was appointed as the commander of the joint forces of the Ukrainian Armed Forces and included in the members of the Ukrainian Supreme Command.June 28, UBS said that gold has been the leader among global major assets so far in 2025. With the continued purchase of gold by central banks and the increase in exchange-traded funds (ETFs), data from the European Central Bank showed that gold has surpassed the euro to become the worlds second largest reserve asset after the US dollar. Although gold prices have fallen slightly from their historical highs as optimistic expectations that the most severe phase of the trade war may end have increased, we are still optimistic about the long-term value of gold. We believe that the downward trend in real interest rates, the weakening of the US dollar, the high geopolitical risk premium, and the structural shift in institutional gold purchases will continue to support gold prices. For example, data from the World Gold Council shows that the average annual gold purchases of central banks in the past three years have exceeded 1,000 tons-more than double the average level of the previous decade.Polish Presidential Office: Polish President Duda arrived in Kiev to meet with Ukrainian President Zelensky.

AUD/JPY Exceeds 90.30 As RBA Considers Option To Raise Rates Prior To Pause

Daniel Rogers

Apr 18, 2023 14:02

AUD:JPY.png 

 

Following the release of the minutes from the Reserve Bank of Australia (RBA), the AUD/JPY pair surged above the 90.30-point critical resistance level. According to the RBA minutes, policymakers actively considered the decision to raise rates further. However, the decision to maintain the status quo was made after the collection of additional data.

 

Citing the resilience of Australia's financial system, RBA policymakers believed that the Board's future cash rate decisions would depend on the global economy, household spending trends, inflation projections, and employment forecasts.

 

Continue to monitor China's Gross Domestic Product (GDP) statistics. Compared to its stagnant performance in the final quarter of CY2022, the Chinese economy is estimated to have grown by 2.2%. Compared to the previous annual growth rate of 2.9%, the current annual growth rate for the economy is 4.0%. Australia is China's greatest trading partner, and stronger Chinese GDP data would strengthen the Australian Dollar.

 

The announcement of the People's Bank of China (PBOC) interest rate decision later this week will be crucial. Last week, the People's Bank of China pledged to provide additional monetary support to spur retail demand. Despite the reopening of China's economy following a period of economic restraint, the country's inflation rate has been consistently declining over the past few months.

 

According to Jiji news and Reuters, the Bank of Japan is reportedly considering a projection for consumer price growth between 1.6% and 1.9% for the 2025 fiscal year, a move seen as preventing market participants from betting on the central bank's departure from stimulus. This has also delayed the possibility of a shift away from an expansionary monetary policy, which cannot be considered until the Japanese inflation rate persists above 2%.