EUR/USD 1.17858
0.110%
Gold 5096.86
2.005%
Oil 66.320
-0.480%
USD/JPY 155.059
0.041%
GBP/USD 1.34890
0.196%
GBP/JPY 209.162
0.248%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
February 22nd - According to foreign media analysis, Nvidia has played a key role in driving the stock market to record highs for years. However, with growing skepticism about artificial intelligence, Wall Street is increasingly worried that the chip giants earnings report next week, regardless of the outcome, will depress its stock price. Nvidias stock price has been trading sideways for months, a significant setback for a company that was recently a leading index performer and achieved triple-digit year-over-year gains. Investors expect Nvidias earnings next week to exceed Wall Street expectations and raise forecasts for the next few quarters. But this may not be enough to boost the stock price. Meanwhile, if Nvidias performance fails to quell investor anxiety about artificial intelligence, it could lead to greater volatility in AI-related stocks and the broader market.February 22 - Libyas state-owned Arabian Gulf Oil Company (AGOCO) announced on Sunday that the Sinawan oil field in the Nalut region of western Libya has resumed production. The field had been shut down for over three years due to financial and technical problems. Under normal operating conditions, the field can produce up to 20,000 barrels of oil per day.February 22 – According to AXIOS, a senior U.S. official said on Sunday that if U.S. negotiators receive a detailed nuclear agreement proposal from Iran within the next 48 hours, they are prepared to hold a new round of talks with Iran in Geneva on Friday. The U.S. official stated that the current diplomatic efforts may be the last chance President Trump is giving Iran before launching a large-scale U.S.-Israel joint military operation (potentially targeting Iranian Supreme Leader Khamenei). The senior U.S. official indicated that the Trump administration is awaiting Irans proposal.U.S. Trade Representative Greer: We will continue the trade investigation so that we can impose tariffs.U.S. Trade Representative Greer: We will explore policy continuity issues after the tariffs imposed under Section 122 expire.

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