EUR/USD 1.09166
0.595%
Gold 3149.21
0.544%
Oil 69.770
-0.922%
USD/JPY 147.203
-1.392%
GBP/USD 1.30708
0.494%
GBP/JPY 192.410
-0.852%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Vishnu Varathan, head of macro research for Asia (excluding Japan) at Mizuho Securities, said on April 3 that U.S. reciprocal tariffs may continue to be a source of economic headwinds. These tariffs may also "inadvertently intensify and increase vulnerability to adverse demand shocks." Varathan said: "Asia has been particularly hard hit, especially in Cambodia, Vietnam, Thailand and Indonesia." In addition, South Korea, Japan, India and the European Union have not been spared, while the United Kingdom, Australia and Singapore have been the least affected. Varathan added that, therefore, the pressure on Asian currencies, except for Japan, may continue.On April 3, the Wall Street Journal reported that German automaker Volkswagen will impose an "import fee" on cars affected by US President Trumps 25% tariff. The report cited a memo sent to retailers saying that Volkswagen has temporarily stopped rail transportation from Mexico and will temporarily keep cars arriving by ship from Europe at the port. According to the agencys analysis of tariff codes contained in the Federal Register, Trumps 25% auto tariff will cover more than $460 billion worth of auto and auto parts imports each year. According to the report, Volkswagen told its dealers that it will provide more details on the pricing strategy for cars affected by tariffs by mid-April and plans to start distributing the cars to stores by the end of the month.European Commission President Ursula von der Leyen: The global economy is expected to suffer significant losses. Uncertainty will rise sharply and trigger new protectionism.European Commission President Ursula von der Leyen: Europe will stand on the side of those countries directly affected.European Commission President Ursula von der Leyen: We will stand together and our unity is our strength.

AUD/NZD has not changed from 1.1230 despite RBA Lowe's testimony

Daniel Rogers

Sep 16, 2022 14:54

截屏2022-09-16 上午10.02.37.png 

 

There has been no movement in the AUD/NZD pair throughout the Tokyo session despite evidence from Philip Lowe, governor of the Reserve Bank of Australia (RBA). Despite a recent dip, the asset is trading within a narrow range of 1.1220 to 1.1232. Tuesday's attempt to break through 1.1258 was unsuccessful, and the asset subsequently fell. The likelihood of a negative reversal has grown due to the presence of strong selling pressure at current elevated levels.

 

As Lowe testified, he plans to do so, inflationary pressures will be reduced. The RBA is not as eager as some other central banks would be to attain price stability if it meant sacrificing economic development.

 

Although the central bank is not following a set course, market participants should keep in mind that the RBA has pegged an objective for the Official Cash Rate (OCR) of 3.85%. RBA Despite his conviction that "labor cost rise is consistent with inflation returning to goal," Lowe has painted a bleak outlook for the economy.

 

Earlier, the Aussie bulls were under pressure after weaker-than-expected job data was released in Australia. Statistics on Employment Change fell short, coming in at 33.5k instead of the expected 35k. The economy reported 40,900 job losses in July. The increase in the unemployment rate was also quite large, coming in at 3.5% compared to 3.4% forecasted and 3.4% reported previously.

 

As for New Zealand, the bullish Business NZ PMI data released early in the Tokyo session has not caused a notable reaction from kiwi buyers. Numbers for the economy were better than expected, coming in at 54.9 versus 52.5 and 52.7.

Suggestion