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According to the Iraqi state news agency, citing official sources, the Federal Reserve has transferred $500 million in cash to the Central Bank of Iraq.ConocoPhillips (COP.N): The potential delay in the start-up of the Qatar LNG project is not expected to have a significant impact on free cash flow.ConocoPhillips (COP.N): Capital expenditures for the Willow project are expected to decline, especially after the project is brought forward to production in early 2029.ConocoPhillips (COP.N): It is expected that if the Qatar LNG project is delayed, the delay could be in the form of months rather than a year.August 7th - According to The Information, Nvidia (NVDA.O) is considering a major measure to address the shortage of high-end, high-bandwidth memory chips. Nvidia is considering using a lower-than-planned memory configuration in its next-generation Rubin Ultra graphics processor. Sources familiar with the matter revealed that Nvidia has tested at least three versions of the Rubin Ultra graphics card in the past few weeks, some with lower memory specifications than initially announced. Part of the reason for this adjustment is that it may not be able to obtain enough high-end memory to meet the supply requirements of the original design. The reduction in memory will impact chip performance, but Nvidia can compensate for this in other ways. However, other AI companies using this chip with reduced memory to run large AI models will need to utilize more chips than originally planned.

AUD/JPY declines below $90.00 as market focus shifts to China's official PMI data

Daniel Rogers

Dec 30, 2022 11:32

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The AUD/JPY pair has abandoned the psychological support at 90.00 during the Asian session. As a spike of Covid-19 instances in China drives other countries to implement severe safety procedures for Chinese immigrants, the risk barometer has detected a sell-off. An increase in the number of Covid cases in China has a negative impact on the Australian currency, since more supply chain disruptions may limit trade activity.

 

In an effort to alleviate supply chain constraints, the declaration that China will reopen in January 2023 has generated new difficulties. Major nations are requiring negative Covid reports on Chinese immigration in order to safeguard themselves from the outbreak. During a briefing on Thursday, the head epidemiologist at China's Center for Disease Control and Prevention (CDC) warned that Covid is expected to spread over the holiday season.

 

In addition to the Covid scenario, investors are concerned about China's official PMI data, which will be revealed next weekend. The consensus forecast for the Manufacturing PMI from the National Bureau of Statistics (NBS) is 49.2, up from the previous reading of 48. Non-Manufacturing PMI is forecast to outperform the previous report by a wide margin, as the current economic data is anticipated to be 51,4 versus 46,7.

 

Australia is China's most important trading partner, and economic uncertainty in China leads the Australian Dollar to fluctuate.

 

The Japanese Yen is gaining ground in Tokyo despite the beginning of funds-supplying operations against pooled collateral by the Bank of Japan (BoJ) on Thursday. On January 4, the Bank of Japan will provide around one trillion yen at zero percent interest.

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