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Tesla India executive: Cars do not require regular maintenance, and most problems can be resolved through OTA software updates.On November 26th, Japanese Prime Minister Sanae Takaichi stated on Wednesday that the government is prepared to take "necessary" actions in the market and will closely monitor whether exchange rate fluctuations reflect economic fundamentals or are driven by speculative behavior. Responding to a question from an opposition lawmaker regarding the recent depreciation of the yen, Takaichi said, "We will closely monitor market movements, including Japanese government bond yields and the exchange rate." She also emphasized that her governments economic stimulus package is not "reckless spending" and stated that the government will strive to reduce Japans debt-to-GDP ratio while closely monitoring changes in bond yields. Takaichi added, "For me, the most important thing is to ensure the sustainability of Japans finances."On November 26th, six departments, including the Ministry of Industry and Information Technology, issued the "Implementation Plan on Enhancing the Matching of Supply and Demand for Consumer Goods and Further Promoting Consumption." The plan proposes the orderly development of platform consumption, including new business models such as live-streaming e-commerce, instant retail, curated retail, and circular e-commerce. It encourages platform enterprises to legally and compliantly utilize artificial intelligence technology to identify user needs and match them with recommended products and services. The plan supports platform enterprises in applying digital technologies such as virtual reality, metaverse, artificial intelligence, and blockchain to create multi-scenario, immersive consumption experiences. It also guides platform enterprises to conduct brand and quality-driven consumption promotion activities. Finally, the plan emphasizes the responsibility of platform enterprises, strengthening the review of operator qualifications and the verification of product information, and improving the rapid handling mechanism for consumer disputes.Tesla India executives announced the opening of Indias first Tesla service center in Gurgaon. The Gurgaon center is the countrys first to encompass sales, service, delivery, and logistics.On November 26th, six departments, including the Ministry of Industry and Information Technology, issued the "Implementation Plan on Enhancing the Matching of Supply and Demand for Consumer Goods and Further Promoting Consumption." The plan proposes actively promoting the first launches of consumer products. It supports the opening of first stores, flagship stores, and new concept stores for consumer goods, as well as the holding of debut shows and exhibitions. It also emphasizes actively cultivating platforms for product launches, upgrading the capabilities of core business districts, and building launch centers that integrate new product releases, displays, transactions, and promotion. Furthermore, it stresses strengthening the empowerment of digital technologies to build an "online + offline" product launch matrix. Finally, it leverages the comprehensive effects of international exhibitions to promote "Chinese trends going global" and "first launches overseas."

Despite the 5.9% decrease in Australian GDP, the AUD/JPY crosses 91.70

Daniel Rogers

Dec 07, 2022 14:59

The AUD/JPY pair has surpassed the crucial barrier level of 91.70 despite a weaker-than-anticipated Australian Gross Domestic Product (GDP). The annual GDP results were 5.9% instead of the expected 6.3% and the previously reported 3.6%. While quarterly GDP data was reported at 0.6% rather than the 0.7% forecast and 0.9% that had previously been made public.

 

Weaker-than-anticipated Australian GDP numbers will help the Reserve Bank of Australia (RBA) achieve its goal of establishing price stability. After the RBA increased its Official Cash Rate (OCR) by 25 basis points for the third consecutive day on Tuesday, the cross remained extremely volatile (bps). Australia's interest rates are now 3.10 percent as a result of this. The 25 basis point hike in interest rates was decided upon in accordance with forecasts.

 

RBA Governor Philip Lowe thinks that further tightening of monetary policy is imminent in terms of interest rate guidance. The RBA is not in a rush to stop raising interest rates because the current inflation rate of 6.9% is significantly higher than the target rate of 2%, and additional policy tightening cannot be ruled out.

 

Investors will pay special attention this week when the Consumer Price Index (CPI) numbers for China are released on Friday. The annual CPI is predicted to drop significantly from the previous reading of 2.1% to 1.0%. The People's Bank of China (PBOC) might be forced to further ease monetary policy as a result of this. As China's largest trading partner, Australia will benefit from China's monetary easing by strengthening the Australian Dollar.

 

Investors in the Japanese yen are waiting for the GDP report on Thursday. Compared to the earlier contraction of 1.2%, it is predicted that the economic data will fall by 1.1%. Although the quarterly data is anticipated to decrease by 0.3%, similar to the previous release, it is more likely to decrease by 0.2%.


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