EUR/USD 1.15138
-0.211%
Gold 4676.00
-1.726%
Oil 103.832
10.230%
USD/JPY 159.633
0.024%
GBP/USD 1.31935
-0.245%
GBP/JPY 210.577
-0.197%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 5th, German Foreign Minister Waldfol called on the EU to abolish the principle that decisions require unanimous consent from all member states in order for the EU to "truly grow." According to German sources on April 4th, Waldfol proposed abolishing the principle of unanimous consent in foreign and security policy formulation before the next European Parliament elections, so that the EU can "better act internationally and truly grow." Regarding the reasons for this suggestion, Waldfol said, "All our experiences in recent weeks regarding aid to Ukraine and sanctions against Russia show that this should be done." Since the escalation of the Ukraine crisis on February 24, 2022, Hungary has frequently disagreed with most EU countries on its policies towards Russia and Ukraine, opposing sanctions against Russia, Ukraines accession to the EU, and the provision of military aid to Ukraine. On March 19th of this year, Hungarian Prime Minister Viktor Orbán blocked a €90 billion aid loan from the EU to Ukraine at the EU summit.On April 5th, Hong Kong Financial Secretary Paul Chan published a blog post summarizing Hong Kongs economic outlook for the first quarter of 2026. Chan stated that with the first quarter of 2026 just concluded, the global situation remains complex and volatile, with the shadow of conflict in the Middle East continuing to weigh on market sentiment. Dragged down by external factors, the Hong Kong stock market experienced a correction, with the Hang Seng Index falling by approximately 2% year-to-date. However, trading remained active, with the average daily turnover in the first two months exceeding HK$260 billion, a year-on-year increase of 17%. Entering March, market activity further intensified, with the average daily turnover of Hong Kong stocks exceeding HK$300 billion, an increase of over 8% compared to the same period last year. This reflects investors increased asset allocation in Hong Kong amidst uncertainty, not only viewing Hong Kong as a reliable safe haven for funds but also benefiting from the stable growth of the mainland economy and the large number of high-quality companies listing in Hong Kong, providing them with numerous investment opportunities.On April 5th, Hong Kong Financial Secretary Paul Chan Mo-po published a blog post stating that Hong Kongs IPO market continued its strong performance from last year in the first quarter of this year. As of March 27th, the amount raised exceeded HK$103 billion, ranking first globally; including subsequent financing, the total amount raised was approximately HK$237 billion. More importantly, an increasing number of companies listing in Hong Kong are from emerging industries—artificial intelligence, semiconductors, robotics, autonomous driving, and biotechnology. Currently, there are over 500 applications waiting to list in Hong Kong. It can be said that as the external environment becomes increasingly uncertain, more companies see Hong Kong as an important window for financing and overseas expansion.According to Al Jazeera: A U.S. government official said the second crew member of the downed F-15E fighter jet has been rescued after a “fierce exchange of fire.”April 5th - According to the Financial Times, International Energy Agency (IEA) Executive Director Fatih Birol warned that if the Strait of Hormuz does not reopen to shipping, the amount of crude oil and refined products lost in April will be double the amount lost in March. Even after the conflict ends, it will take a long time to return to normal. "We are monitoring all critical energy assets in the region hourly," he said, referring to oil and gas fields, pipelines, refineries, and liquefied natural gas terminals. "Currently, 72 energy assets have been damaged, and a third of them are severely or very severely damaged," he added. Birol praised Saudi Arabias swift response to the crisis, noting that the country diverted more than two-thirds of its oil exports via a pipeline to the Red Sea. Birol stated that Saudi Arabias highest authorities assured him that the critical pipeline was well protected. However, Birol pointed out that if this route were attacked, the consequences for the global economy would be extremely severe.

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