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Domestic News: 1. The Ministry of Public Security publicly solicited opinions on the Law on the Prevention and Control of Cybercrime. 2. Wang Xiangxi, Secretary of the Party Committee and Minister of the Ministry of Emergency Management, was investigated. 3. The National Bureau of Statistics: The manufacturing PMI in January was 49.3%, down 0.8 percentage points month-on-month. 4. The Southern Theater Command of the Peoples Liberation Army organized combat readiness patrols in the territorial waters and airspace of Huangyan Island and surrounding areas. 5. Xi Jinping: Give full play to comparative advantages, adhere to the principle of seeking progress while maintaining stability, and promote continuous breakthroughs in the development of my countrys future industries. 6. Qiushi magazine published an important article by General Secretary Xi Jinping entitled "Taking the Path of Financial Development with Chinese Characteristics and Building a Financial Power." 7. The Beijing Economic-Technological Development Area Management Committee issued the "Implementation Plan on Further Accelerating the Construction of a City of Artificial Intelligence (2026-2027)." International News: 1. CME raised the margin requirements for gold, silver, platinum, and palladium futures. 2. The US federal government entered a technical, partial shutdown. 3. Indonesias financial regulatory agency appointed an interim head and an executive head. 4. Trump announces Brett Matsumotos nomination as the new director of the Bureau of Labor Statistics. 5. Sources: Talks between Russia and the United States have begun in Miami, Florida. 6. SpaceX applies to deploy one million satellites to build an orbital AI data center network. 7. According to Interfax: Russia lifts its ban on gasoline exports to producers. 8. Jensen Huang: Will definitely participate in this round of investment in OpenAI, which may be the largest investment in the companys history. 9. Federal Reserve Chairman nominee Warsh is reportedly involved in the Epstein case; US Commerce Secretary Lutnick is reportedly reported to have visited Epsteins private island. 10. An explosion occurred in a building in southern Iran; the Iranian Islamic Revolutionary Guard Corps denies rumors of an assassination attempt on Navy Commander Donsiri; two Israeli officials stated that Israel was not involved in the Iranian explosion.On January 31st, at the Fourth Session of the 14th Heilongjiang Provincial Peoples Congress, which opened on January 31st, expanding domestic demand and promoting consumption were once again key tasks in the government work report. In 2026, Heilongjiang Province will hold over 2,000 consumption-promoting activities, including "Shopping in Heilongjiang," and distribute over 800 million yuan in government consumption vouchers. In 2025, Heilongjiang Province launched a special campaign to boost consumption, expanding the scope of the trade-in program for old consumer goods and organizing a series of consumption-promoting activities, stimulating consumption by 72.84 billion yuan. The province also stimulated potential consumption such as first-launch economy and live-streaming e-commerce, establishing 15 new internationally and domestically renowned flagship stores, and achieving a 14.7% year-on-year increase in online retail sales. The investment structure continued to optimize, with investment in high-tech manufacturing increasing by 11.5% year-on-year, and the proportion of private investment increasing by 2.2 percentage points.January 31st - To effectively curb the sources of cybercrime, rectify the cybercrime ecosystem, and enhance the publics sense of security and satisfaction with cybersecurity, the Ministry of Public Security, after thorough research and demonstration, has drafted the "Cybercrime Prevention and Control Law (Draft for Public Comment)," and is now soliciting public opinions. The deadline for feedback is March 2nd, 2026.January 31st - According to Lighthouse Pro, as of 9 PM on January 31st, the total box office for January 2026 reached 1.961 billion yuan, with "Zootopia 2" holding the top spot for the third consecutive month.On January 31, the "Implementation Plan of Beijing Economic-Technological Development Area on Further Accelerating the Construction of a City of Artificial Intelligence (2026-2027)" was released. The Implementation Plan systematically outlines the development goals for the Beijing Economic-Technological Development Areas city of artificial intelligence over the next two years, proposing to accelerate the construction of a city-level engineering experimental platform driven by data and scenarios, and to promote the application of artificial intelligence in various industries and households. The Implementation Plan specifies that by the end of 2027, the focus will be on building no fewer than 10 benchmark intelligent scenario complexes, promoting the application of 100 vertical models, constructing a number of high-quality industry datasets, gathering 1,000 core enterprises in the artificial intelligence industry chain, attracting 10,000 super individuals and independent developers, and significantly enhancing the scale and level of the core industries of the intelligent economy.

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.