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The Dallas Fed Manufacturing Raw Materials Payments Index for May was 42.7, down from 37 in May.The Dallas Fed Manufacturing Shipments Index for May was 7.4, down from 15 in May.The Dallas Fed Manufacturing Employment Index for May was 0.2, compared to -0.9 in the previous month.The Dallas Feds manufactured goods price index for May was 18.9, compared to 27.6 in the previous month.On May 26, Beijing Mayor Yin Yong met with Javier Tasso, Global CEO of the Society for Worldwide Interbank Financial Telecommunication (SWIFT), on the afternoon of May 25. Yin Yong stated that as the national financial management center, Beijing possesses abundant financial resources, housing numerous national financial decision-making and management institutions, headquarters of important financial institutions, and financial infrastructure platforms. It boasts a high level of two-way financial opening-up and a superior business environment for the financial industry. Beijing also has rich educational, scientific, and technological talent resources, with strong R&D capabilities and significant leading advantages in cutting-edge technologies such as artificial intelligence, blockchain, and robotics, and a well-developed fintech innovation ecosystem. He expressed hope that SWIFT would seize the opportunities presented by Beijings financial opening-up and technological innovation, further expand its business presence in Beijing, strengthen exchanges and cooperation with Beijings fintech companies, achieve mutual benefit and win-win results, and contribute to building a more open, secure, and efficient global financial system. Beijing will continue to optimize its business environment and provide high-quality services for the development of various financial institutions, including SWIFT, in Beijing.

Despite the dovish BOJ minutes, the AUD/JPY encounters obstacles at 95

Daniel Rogers

Jul 26, 2022 11:56

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The early hours of the Tokyo session saw the AUD/JPY pair present a downward breach of the minute consolidation formed in a range of 94.97-95.18. As a result, the pair is now falling. The asset has generally held up well, and this little decline can be attributed to market participants "taking gains." Since the Bank of Japan (BOJ(released) )'s dovish minutes from its monetary policy meeting in June, the risk barometer has decreased.

 

The BOJ Governor Haruhiko Kuroda kept the same interest rate policy last week, so investors should be mindful of this. In order to keep an inflation rate above the desired threshold, the BOJ kept its ultra-loose monetary policy in place. Its unwillingness to raise pay rates is becoming a significant barrier, though, and inflation rates higher than 2% are rarely justified by rising energy and food prices. In addition, the BOJ announced that it will continue to buy an unlimited number of bonds in order to maintain its bond yield cap.

 

Investors are eagerly awaiting the release of Australian Bureau of Statistics' inflation statistics on Wednesday in the aussie market. The predicted increase in the overall Consumer Price Index (CPI) for the second quarter of CY2022 is 6.2 percent, up from the previously estimated 5.1 percent. The Reserve Bank of Australia (RBA) will be forced by this to increase interest rates even further in its monetary policy for August. Following a 50 basis point (bps) hike in July, Governor Philip Lowe of the RBA has already increased the Official Cash Rate (OCR) to 1.35 percent.


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