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On November 30th, Baili Tianheng announced that its wholly-owned subsidiary, SystImmune, recently received a $250 million milestone payment from BMS. According to the cooperation agreement, the company is also eligible for up to $250 million in near-term contingent payments, as well as additional payments of up to $7.1 billion upon achieving specific development, registration, and sales milestones.On November 30th, Zhuochuang Information announced that it submitted an application to the Hong Kong Stock Exchange on November 28th, 2025, for the issuance of overseas listed shares (H shares) and listing on the Main Board of the Hong Kong Stock Exchange. The application materials for this issuance and listing were also published on the Hong Kong Stock Exchange website on the same day. The issuance and listing are subject to approval, authorization, or filing by relevant government agencies, regulatory bodies, and stock exchanges, and will be implemented only after comprehensive consideration of market conditions and other factors. Therefore, the matter remains subject to uncertainty.On November 30th, Japanese Finance Minister Satsuki Katayama stated on Sunday that the recent sharp fluctuations in the foreign exchange market and the rapid depreciation of the yen were clearly not driven by fundamentals. "Our position is to issue a warning about such events," Katayama said. She reiterated that currency intervention is still possible in response to excessive yen volatility and speculative movements. This aligns with the September Japan-US joint statement, which stated that exchange rates should be determined by the market. On Monday, the market will closely watch for comments from Bank of Japan Governor Kazuo Ueda to see if he signals a possible interest rate hike at the Bank of Japans December meeting.The Kurdistan Regional Governments Electricity Department: Operations at the Khormor oil field have resumed, and the transmission of natural gas to the power plant began at 2:00 AM.On November 30th, three OPEC+ representatives indicated that OPEC+ is likely to maintain its first-quarter 2026 oil production levels at its Sunday meeting, a move that would moderate its efforts to regain market share amid growing market concerns about oversupply. Similar comments were made by other sources this week. The organization had been cutting production for years until April of this year, when eight member countries began increasing output to restore market share.

Following Fed-inspired turbulence, USD/JPY anticipates a major move; US Retail Sales are anticipated

Daniel Rogers

Dec 15, 2022 11:41

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Near 135.40, the USD/JPY pair fluctuates violently during the Asian session. By decreasing volatility, the asset cleans up the mess left by Fed policy-induced volatility, clearing the path for future decisive action.

 

As a result of an interest rate deceleration, the Federal Reserve (Fed) shifted to a smaller rate boost, which caused the major currency to swing dramatically between 134.50 and 136.00. Jerome Powell, chairman of the Federal Reserve, announced a rise of 50 basis points (bps) in interest rates, bringing them to 4.25-4.50%.

 

In the interim, the US Dollar Index (DXY) has risen to approximately 103.70. After opening in the red on Wednesday, S&P500 futures have tried a more robust comeback. Indicative of a revival in risk appetite, it appears that investors are dismissing forecasts of higher interest rate peaks and applauding the novel approach of a smaller and slower interest rate hike.

 

Fed Chair Jerome Powell has warned investors that Average Hourly Earnings, which are not decelerating, are the next factor that has the potential to reverse inflation. Consistent gains in income will keep retail demand healthy and will not compel businesses to reduce prices.

 

Thursday's release of U.S. Retail Sales statistics will attract investors' attention moving ahead. Compared to the prior reading of 1.3% growth, the monthly Retail Sales report for November is expected to decline by 0.1%. A decline in retail demand will contribute to the softening of additional inflation statistics.

 

On the Tokyo front, investors predict the Japanese government to implement additional economic stimulus packages in order to encourage economic growth. The Bank of Japan (BOJ) already favors a policy easing strategy to boost inflation, and this is expected to continue until inflation reaches its target of 2%.


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