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The General Staff of the Ukrainian Armed Forces: In the past day, the Russian army lost about 1,000 soldiers, as well as 3 armored personnel carriers, 45 artillery systems and other equipment.On October 19th, Russian law enforcement revealed that Ukrainian armed forces were using a satellite system from the British company OneWeb to control unmanned boats in the Black Sea, and that a similar unmanned boat had been captured as a trophy. Sources said Ukraine was using the system as a backup communication channel for the Starlink system. "OneWeb terminals have been integrated into the maritime drone control system. Now, OneWeb is used as a backup communication channel alongside the primary system, the US Starlink," the source said. He explained that unlike Starlink, which uses thousands of low-orbit satellites, OneWeb deploys its network in medium-Earth orbit. This allows for wider coverage per satellite, but requires more complex and expensive user terminals.On October 19, a source in the Russian security department revealed that the number of mercenaries holding American passports killed by the Russian armed forces in special military operations in Ukraine has reached nearly 100. The source said: "Since the end of February 2022, about 100 American citizens fighting alongside Ukrainian militants have been killed in Ukraine." The source pointed out that obituaries of many people have been published on social networks and Ukrainian media.On October 19th, Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), stated in a statement that 23 models saw price reductions in September this year (compared to 36 models in the same period last year and 11 models in the same period in 2023), indicating that the current market remains relatively stable. Promotional activity for new energy vehicles remained at a mid-to-high 10.2% in September 2025, an increase of 2.6 percentage points year-on-year and a slight increase of 0.7 percentage points from the previous month. Promotional activity for traditional fuel vehicles reached 23.9% in September 2025, up 1 percentage point from the previous month and 1.9 percentage points year-on-year. The overall wholesale structure of major passenger car manufacturers continued to shift in September, with some mid-segment companies showing signs of gradual growth. Companies such as Geely Auto, Dongfeng Nissan, Xpeng Motors, Xiaomi Motors, and Leapmotor saw strong month-on-month performance. The independent brands of large state-owned groups have achieved strong growth. The independent brands of the five major state-owned groups, including SAIC, Dongfeng, Changan, Chery, and BAIC, increased by a total of 25% year-on-year in September. Among them, the second generation of independent brands of Shenlan, Lantu, Arcfox, and large groups showed strong growth.Nvidia (NVDA.O) CEO Jensen Huang will attend the Asia-Pacific Economic Cooperation (APEC) CEO Summit in South Korea.

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.


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