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On March 17th, XPeng Motors held an "Ask Me Anything" livestream on March 16th, where Chairman and CEO He Xiaopeng outlined the rollout schedule for the second-generation VLA (Vehicle Autopilot) for different models: The rollout will begin gradually on March 19th, starting with the P7 Ultra, followed by the G7 and X9 Ultra. P7, G7, and X9 users will receive the VLA this month, with the rollout starting in April for the 2026 XPeng P7+ Ultra｜Ultra SE (pure electric + super range extender), 2026 XPeng G9 Ultra｜Ultra SE, 2026 XPeng G6 Ultra｜Ultra SE (pure electric + super range extender), and XPeng G7 Ultra｜Ultra SE (super range extender). Regarding version differences, He Xiaopeng stated that the Ultra version is designed for Level 4 (L4) capabilities, supporting all-scenario driving; the Max version is designed for Level 2 assisted driving capabilities, primarily covering high-frequency scenarios such as highways and urban main roads.The Hang Seng Tech Index rose more than 2%, with Chinese securities firms, new consumption, and new energy vehicle companies among the top gainers.On March 17th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.2580%, and the lowest was 0.8460%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.1070%, and the lowest was 1.0210%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.2010%, and the lowest was 1.0020%.New York silver futures rose more than 1.00% on the day, currently trading at $81.49 per ounce.The yield on Japans 30-year government bonds rose 1.0 basis point to 3.560%.

As a result of hawkish RBA minutes, AUD/JPY surges to around 93.00

Alina Haynes

Feb 21, 2023 15:20

As the Reserve Bank of Australia's minutes revealed a hawkish stance, the AUD/JPY pair surged to near 93.00 during the Tokyo session (RBA). The RBA minutes make it plainly clear that higher interest rates are essential because robust consumer demand prevents the Australian inflation rate from decreasing from its peak.

 

According to the minutes, RBA members considered a 50 basis point (bps) increase in interest rates in light of the persistence of inflation. Members of the RBA also remarked that the unemployment rate is at its lowest point in the past fifty years and that the number of job opportunities is astronomically high, which is a source of happiness for consumers who are injecting surplus income into the economy.

 

Aside from this, the Australian economy benefited from improved trade terms and would benefit more from China's openness than a number of other countries. The Chinese government's relaxation of pandemic laws has expanded Australia's trading potential.

 

Philip Lowe, governor of the Reserve Bank of Australia, anticipates that the cash rate will climb to 3.75 percent over time, with headline inflation decreasing to 4.75 percent by the end of 2023 and returning to approximately 3 percent by the middle of 2025.

 

Previously, S&P Global reported upbeat preliminary Australian PMI (Feb) data. The Manufacturing PMI hit 50.1, above both the consensus forecast of 49.9 and the prior figure of 50.0. The Services PMI increased from 48.4 (estimated) and 48.8 to 49.2. (previously released).

 

About the Japanese Yen, Bank of Japan (BoJ) Governor Haruhiko Kuroda stated, "Due to labor demand and inflation, wage growth is predicted. The Japanese Yen has not notably reacted to the preliminary Jibun Bank PMI (Feb) statistics, which were mixed. The Services PMI has risen to 53.6, surpassing both the consensus expectation of 51.5 and the prior figure of 51.1. While the Manufacturing PMI has declined to 47.4 compared to expectations and the previous reading of 48.9, it remains above the 50-point threshold indicating expansion.


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