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On July 14th, the Aftermarket Branch of the China Association of Automobile Manufacturers issued a clarification statement, stating that some media outlets recently cited data from the branchs "2025 China Automotive Aftermarket Annual Development Report," publishing reports such as "the average age of new energy vehicles is only 1.8 years, and consumers replace their vehicles with electric vehicles every 3-5 years," which has led to market misunderstandings. The Aftermarket Branch clarified the key distinction: "Average age of vehicles in use" ≠ "Vehicle replacement cycle" ≠ "Average lifespan of vehicles." The "average age of vehicles in use" published in the report specifically refers to the average time it takes for existing new energy vehicles in my country to be sold by the end of 2025, equivalent to the average age of a person, not the average lifespan. "Vehicle replacement cycle" refers to the average interval between purchase and voluntary replacement, while "average lifespan of vehicles" is the average number of years a vehicle is used from its initial sale to its scrapping. These three terms have completely different statistical methods and objects. The conclusion drawn from the online reports regarding "rapid replacement of electric vehicles" is inaccurate and represents a misuse of statistical concepts. For specific data on "vehicle replacement cycle" and "average vehicle lifespan", please refer to official statistics or other authoritative industry reports and research conclusions.July 14th - According to Visible Alpha data, ASML (ASML.O) is expected to report second-quarter sales of €8.83 billion (approximately $10.08 billion). This forecast falls within the companys previous guidance range of €8.4 billion to €9 billion and is higher than the €7.69 billion in the same period last year. Of particular note is ASMLs performance guidance and the issue of tight market supply. Driven by strong semiconductor demand, ASML is expected to raise its full-year sales forecast for the second time this year. UBS analysts stated that ASML may raise its guidance to the high end of the range, or even slightly above it. JPMorgan Chases Sandeep Deshpande also indicated that ASML may raise its guidance again, citing strong shipments of deep ultraviolet lithography machines. Furthermore, ASML CEO Christophe Fouquet stated in April that investment in AI infrastructure is creating a situation where chip demand exceeds supply. Companies are unable to obtain sufficient memory and storage chips because AI demand has pushed costs to the point that Apple had to raise prices on some products. Micron Technology executives stated last month that the supply shortage will continue beyond 2027. Investors will be closely watching any comments from ASML executives regarding AI demand and its future trends.On July 14, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, held talks in Beijing with Honipwera, Minister of Foreign Affairs and Foreign Trade of the Solomon Islands. Wang Yi stated that Chinas cooperation with the Solomon Islands is free of political conditions, impositions, and empty promises. He expressed Chinas willingness to strengthen the alignment of development strategies, promote high-quality Belt and Road cooperation, expand practical cooperation in areas such as green energy, broaden people-to-people exchanges in education, health, and youth, strengthen multilateral cooperation, uphold international fairness and justice, and jointly address global challenges such as climate change. Honipwera stated that the Solomon Islands highly values its relations with China, which is its largest trading partner. The two sides have reached dozens of memorandums of understanding on cooperation and look forward to expanding trade and investment with China, deepening practical cooperation in education, infrastructure, healthcare, and green development, and elevating Solomon Islands-China relations to a higher level.German Ministry of Economic Affairs: Corporate bankruptcy rate remains unusually high.Market news: The European Council has finally approved the revised trade agreement with Mexico.

AUD/USD falls approaching 0.7200 despite the former RBA governor's aggressive forecasts

Alina Haynes

Jun 08, 2022 11:59

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Bears and buyers continue to fight for position around 0.7220-25 as sentiment is mixed and investors remain cautious ahead of the week's big data/events. In doing so, the Australian duo struggles to defend the hawkish remarks of former Reserve Bank of Australia (RBA) Governor Ian Macfarlane.

 

Ex-RBA Governor Macfarlane warned early Wednesday morning about chronically rising inflation and the need to drastically increase interest rates. The former policymaker also stated, "There is sufficient scarcity in Australia and the United States to maintain a high inflation rate."

 

In contrast, China's Vice Commerce Minister Wang Shouwen joined China's Vice Finance Minister Zou Jiayi in reiterating concerns about a global economic downturn and a decline in demand. Recent consensus among policymakers held that the rise of global demand is slowing.

 

It's worth noting that a rebound in US Treasury rates and apprehension ahead of Thursday's European Central Bank (ECB) meeting, as well as Friday's US Consumer Price Index (CPI) for May, tend to stifle the AUD/USD pair's movements.

 

In spite of this, 10-year US Treasury note rates jump two basis points (bps) to 2.99 percent the day after breaking a six-day downward trend. A record decline in the US trade deficit and optimism on the US budget appear to have prompted a recall of US Treasury bond sellers. The US trade deficit for April decreased 19.1 percent from the previous day to USD87.1 billion.

 

Other market optimists were defended by US Treasury Secretary Janet Yellen and optimism for a quicker economic rebound in China. Tuesday, US Treasury Secretary Yellen spoke before the Senate Finance Committee about the Fiscal Year 2023 Budget while stating that the US economy faced problems from "unsustainable levels of inflation" and supply chain disruptions. The official said, "An adequate budget is necessary to support the Fed's efforts to control inflation without damaging the labor market."

 

It should be noted that World Bank (WB) President David Malpass's warning that faster-than-anticipated tightening might force certain nations into a debt crisis akin to that of the 1980s appears to have impacted on the quotation as of late. The risk-negative news from Ukraine may follow a similar trajectory. Politico reported that Ukraine has not yet achieved a deal with Russia or Turkey to enable the safe passage of its grain ships in the Black Sea, casting doubt on a U.N. initiative to build a crucial food corridor.

Technical Evaluation

A two-week-old support line protects AUD/USD buyers at 0.7205. However, the 200-day moving average and the recent top, located around 0.7255 and 0.7285, may challenge the Aussie pair's upside before the bulls regain control.


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