EUR/USD 1.17313
0.006%
Gold 4626.89
0.112%
Oil 102.446
-0.061%
USD/JPY 157.160
0.349%
GBP/USD 1.36025
-0.002%
GBP/JPY 213.781
0.357%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 1st, Indian Oil Corporation (IOC) announced it would maintain domestic jet fuel prices unchanged for May. This comes after several airlines warned of potential service disruptions due to supply shortages caused by the conflict in Iran. The Indian refiner, Indias largest, has set a benchmark for the industry, maintaining domestic jet fuel prices at 104,927 rupees per kiloliter (approximately US$1,105). However, according to its website, the company will be raising prices for international operators, though the specific amount was not disclosed. Global airlines are facing operational disruptions due to jet fuel shortages caused by the Middle East conflict. The aviation industry is highly sensitive to fuel price increases, with fuel costs accounting for up to 40% of operating expenses. Even small increases can significantly impact profitability and ticket prices.May 1st - According to a report from "Huizhou Housing and Construction" on April 30th, the Huizhou Municipal Housing and Urban-Rural Development Bureau, in conjunction with the Municipal Finance Bureau and the Municipal Human Resources and Social Security Bureau, recently issued a talent housing voucher subsidy policy. Eligible talents can directly apply for housing vouchers to offset the purchase price of newly built commercial housing in Huizhou, with a maximum subsidy of 100,000 yuan and a total policy amount of 100 million yuan, on a "first-come, first-served" basis.GAC Toyota: Platinum brand sold 14,664 vehicles in April.Zhiji Auto: April 2026 sales reached 10,016 units, with cumulative sales from January to April increasing by 130% year-on-year.May 1st - Analyst Simon-Peter Massabni believes that gold prices remained largely stable amid thin trading during the Asian holiday season. He added that gold is facing increasing pressure due to the stalled diplomatic efforts surrounding the Middle East wars and a lack of market expectations for short-term monetary easing by the Federal Reserve. He further noted that large-scale outflows from gold ETFs are also putting pressure on prices.

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