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On January 10th, Chen Jianye, Secretary of the Party Leadership Group and Director of the Fujian Provincial Department of Industry and Information Technology, stated that the next step will be to accelerate the digital transformation of the manufacturing industry, enhance its green foundation, and promote the transformation of industries towards "new" and "green." This includes: Deepening the implementation of the "Nine Major Actions" for comprehensive digital empowerment of industrial manufacturing; adhering to the principle of enterprise-led development, strengthening government guidance, and leveraging the role of service providers to create more transformation benchmarks, promote chain-based transformation and overall transformation, and accelerate the large-scale application of digital technologies in the manufacturing industry; Deepening and expanding "Artificial Intelligence +"; making good use of the new round of incremental policies for artificial intelligence, supporting the cultivation of industry-specific models and intelligent agents, accelerating industry adaptation and scenario expansion, and promoting the empowerment of various industries by artificial intelligence; guiding the differentiated and characteristic development of the Fuzhou-Xiamen-Quanzhou provincial-level artificial intelligence industrial parks; and carrying out in-depth energy conservation and carbon reduction special actions; closely monitoring national carbon assessment requirements, and implementing energy conservation reviews and carbon emission assessments for "high energy consumption and high pollution" projects in the industrial sector; building Fujians green advantages in manufacturing, cultivating more national and provincial-level green parks and enterprises, and promoting the construction of a number of zero-carbon parks and factories.The Consumer Bankers Association: We look forward to working with the government to ensure that Americans have access to the credit they need.The Consumer Bankers Association argues that, however, there is evidence that a 10% interest rate cap would reduce credit availability. If implemented, this would only force consumers to turn to less regulated, more expensive alternatives.The Consumer Bankers Association of America (CBA) reports that U.S. banks have responded to the proposal to cap credit card interest rates, expressing their agreement with President Trumps goal of helping Americans access more affordable credit.On January 10th, a research report from CITIC Securities stated that the Trump administrations raid on Venezuelas capital on January 3rd, kidnapping its president Maduro, was a move that implemented the "Monroe Doctrine Trump Inference" in the 2025 US National Security Strategy, strengthening its control over South American countries. We believe such actions are eroding US national credit and accelerating the undermining of the rules-based international order. However, due to the decline in US military projection capabilities, such "kidnapping" or "decapitation" operations are difficult to carry out in non-South American countries. Since the 21st century, the main buyers of gold by global central banks have been central banks of non-South American countries. Therefore, we believe that following the Venezuelan events, the upward trend in gold prices will accelerate during Trumps term.

AUD/NZD moves within a 23-pip band due to Australian inflation that is lower than predicted

Alina Haynes

Nov 30, 2022 15:27

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The AUD/NZD pair swung wildly between 1.0764 and 1.0787 throughout the Asian session after the Australian Bureau of Statistics reported lower-than-anticipated Australian inflation data. The Consumer Price Index (CPI) for October reported a decrease in inflation to 6.9%, when market participants had predicted an increase to 7.4%.

 

If inflation declines, policymakers at the Reserve Bank of Australia (RBA) would likely heave a sigh of relief. Since inflationary pressures had previously shown little indication of abating, the Australian central bank was particularly concerned. In order to combat inflation, the market predicted that RBA Governor Philip Lowe will be forced to return to a rate hike structure of 50 basis points (bps).

 

As the inflation rate has fallen below 7.0%, the RBA may retain its present timetable of 25 basis point rate hikes to sustain economic prospects and satisfy its duty to seek price stability.

 

Investors are currently monitoring the development of the Chinese demonstrations. As a result of the public's enraged and exasperated lockdown protest against Covid, economic projections have become more bleak. This has held the antipodeans captive to bears for the past week.

 

Other than that, Thursday's Caixin Manufacturing PMI data will continue to be crucial. It is projected that the economic data would be lower at 48.9 than the prior reading of 49.2.

 

In New Zealand, the number of Building Permits has decreased by 10.7%, compared to the expected 2.4% increase and the previous release of 3.6%. The Reserve Bank of New Zealand's (RBNZ) increase in interest rates may be responsible for a decrease in the economic catalyst.

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