EUR/USD 1.18739
0.030%
Gold 5032.54
2.252%
Oil 62.595
-0.242%
USD/JPY 152.752
0.012%
GBP/USD 1.36557
0.249%
GBP/JPY 208.597
0.270%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Domestic News: 1. Wang Yi meets with Canadian Foreign Minister Anand. 2. 2026 Spring Festival film pre-sales exceed 400 million yuan. 3. The Cyberspace Administration of China announces the fourth batch of 7 financial information service institutions. 4. The Chinese Consulate General in Osaka reminds Chinese citizens in its consular district to strengthen security precautions. 5. Heilongjiang Province issues the "Heilongjiang Province Artificial Intelligence+ Government Affairs Deepening Application Work Plan". 6. Qiushi magazine publishes an important article by General Secretary Xi Jinping entitled "Key Tasks of Current Economic Work". 7. Ministry of Foreign Affairs: China decides to implement a visa-free policy for holders of ordinary passports from Canada and the United Kingdom starting February 17. 8. Guotou UBS Silver LOF compensation plan released: losses under 1,000 yuan will be fully compensated, and online processing will be available starting February 26. International News: 1. Tajikistan reportedly plans to launch gold ATM services. 2. European Central Bank President Lagarde opposes using taxes to prevent capital outflows. 3. Musk: Optimus robots will change human life starting next year. 4. According to Axios: The US Department of Defense threatens to cut off cooperation with Anthropic. 5. Obama responds to Trumps mockery of Ukraine as an ape: The "sense of shame" and "manners" that once bound American public officials have now vanished. 6. EU High Representative for Foreign Affairs and Security Policy Karas: It seems that EU countries are not yet ready to give Ukraine a specific date for joining the EU. 7. US-Iran negotiations—① According to the BBC: Iran is prepared to consider compromises to reach a nuclear agreement if the US is willing to discuss lifting sanctions. ② A senior Iranian official confirmed that the second round of indirect negotiations with the US will be held in Geneva on Tuesday. ③ Irans Deputy Foreign Minister: Iran and the US have included issues such as oil and gas, mineral investment, and even aircraft procurement in the negotiating text. ④ Iran reiterates that its right to peaceful use of nuclear energy is inalienable.February 15th - Nick Timiraos, a vocal advocate for the Federal Reserve, wrote that key indicators of the U.S. economy are pointing in the same positive direction: inflation is declining, the labor market remains strong, and economic growth is solid. This is not a definitive conclusion, but it represents the closest the U.S. economy has ever come to a soft landing (i.e., curbing inflation while avoiding a recession). Just four years ago, many economists thought this was impossible. Now, the scenario of the U.S. economy bringing inflation back to the Feds 2% target without falling into recession is once again credible. However, even without oxygen masks, its too early to unfasten the seatbelts. The Feds preferred inflation gauge, the core PCE annual rate, is currently close to 3%, and many forecasters expect little progress in inflation this year as tariff-related price increases spread further. Meanwhile, the labor market may not be as robust as last weeks report suggested. Payden & Rygels chief economist, Jeffrey Cleveland, stated that objectively speaking, the labor market has been weak, and the unemployment rate is more likely to rise than fall this year.February 15th - European Central Bank President Christine Lagarde stated during a panel discussion at the Munich Security Conference on Sunday that current market developments indicate investors are interested in allocating more capital to Europe. Creating incentives for European investment is a better approach than using taxes to prevent capital outflows. Lagarde believes that US President Trumps disruptive trade policies serve as a "spur" for Europe to accelerate economic reforms. Beyond economic challenges, this has also brought European leaders closer together. She stated that the EUs €90 billion ($107 billion) support package for Ukraine demonstrates that the union can drive meaningful decision-making even if not all member states support an agreement.U.S. Secretary of State Marco Rubio: The United States has taken note of reports from various countries assessing the poisoning of prominent Russian opposition politician Alexei Navalny. The United States does not question this assessment, nor is there any reason to question it.US Secretary of State Marco Rubio believes that President Trumps aide Witkov and Trumps son-in-law Kushner are "at this moment" traveling to Iran for an important meeting on Iran.

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.


Suggestion