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UAE authorities say the UAE faces the threat of Iranian missile attacks.Market news: A missile launched from Iran has targeted oil storage facilities in Bahrain.According to the official measurement of the China Earthquake Networks Center, a 3.6-magnitude earthquake occurred at 10:39 on April 5 in Gaochang District, Turpan City, Xinjiang (43.34 degrees north latitude, 88.94 degrees east longitude), with a focal depth of 36 kilometers.April 5th - "Currently, all the new bikes in our store meet the new national standard; we dont have any old standard electric bicycles for sale. Monthly sales are a bit better than the first month after the new standard was implemented, but we still need to promote them to sell slowly. Our store needs to sell an average of 5 or 6 bikes a day, otherwise we cant survive," said Yang Li (pseudonym), a Yadea dealer in Guangzhou. She added that the biggest challenge facing electric bicycle dealers this year is the cancellation of the national subsidy policy for electric bicycles. According to the 2026 national subsidy policy, electric bicycles are no longer included in the list of six categories of consumer goods eligible for trade-in subsidies. Local governments have also not yet introduced local subsidies for electric bicycles. A survey of electric bicycle sales in several cities revealed that dealers reported that during the painful transition between the old and new national standards, in the first quarter, manufacturers had to cover the costs of end-user promotions, but store sales still showed a significant year-on-year decline.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 4.0 occurred at 10:21 AM on April 5th near Keping County, Aksu Prefecture, Xinjiang (40.12°N, 78.13°E). The final result is subject to the official rapid report.

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

Alina Haynes

Nov 30, 2022 15:27

截屏2022-11-30 上午10.58.10.png 

 

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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