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Leapmotors official Weibo account said that its deliveries in April reached 41,039 units, a year-on-year increase of 173%, setting a new record high in growth rate.1. MUFG: Expected to lower economic growth and core inflation forecasts for this year; even if the central bank is cautious about further rate hikes, the yen still has room to appreciate. 2. Bank of America: Trumps policies have increased uncertainty, pay attention to clues of rate hikes in June or July, and the expectation of the next rate hike has been postponed from June to the end of the year. 3. ANZ Bank: Expected to remain on hold amid uncertainty in trade policy, the press conference will adopt a cautious tone, and the expectation of the next rate hike will be postponed from May to October. 4. Reuters survey: 84% of economists expect interest rates to remain at 0.50% by the end of June; 52% of economists expect a rate hike in the third quarter. 5. Fanon Credit: Inflation expectations may be significantly lowered in view of the appreciation of the yen and the decline in oil prices. Pay attention to whether it will mention that the strengthening of the yen may slow the pace of policy normalization. 6. Citibank: Real wage increases support consumption, however, considering the implementation of reciprocal tariffs and automobile tariffs, we do not expect the Bank of Japan to raise interest rates this year. 7. S&P: Japanese interest rates are not expected to change until the second half of this year, but the Bank of Japans stance will be watched as inflation continues to rise. 8. Monex Securities: Expected to keep interest rates unchanged, with a focus on the outlook. The balance between rising inflation and increased uncertainty is key to the interest rate path. 9. IG Group: Expected to remain on hold given the continued uncertainty over tariffs and economic growth risks; wage growth exceeding inflation may add confidence to tightening policy. 10. Continuum Economics: Expected to keep interest rates unchanged and not change forward guidance; tariff uncertainty plus continued inflation puts it in a dilemma.According to the Wall Street Journal: Teslas (TSLA.O) board of directors has begun the process of finding a successor to Musk as CEO.New York gold futures fell below $3,250 an ounce, down 2.09% on the day.Starbucks (SBUX.O) is considering cutting spending on store upgrades, which could help ease investor concerns about the chains cost tussle. Starbucks CEO Brian Niccol told employees at a company-wide meeting that each Starbucks store remodel costs between $800,000 and $1 million, according to a recording obtained by CNN Business. The coffee chain is looking for ways to reduce the cost of these renovations, which could involve major changes such as electrical or plumbing upgrades.

Oil Prices Fall Further Due to China-Taiwan Tensions and Growth Concerns

Haiden Holmes

Aug 05, 2022 11:00

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As China-Taiwan tensions rose and the Bank of England hiked interest rates, a grim view for crude demand emerged, culminating in a further decrease in oil prices on Friday and a prediction of significant weekly losses.


As of 11:11 EST (00:11 GMT), Crude Oil WTI Futures traded down 0.3% to $88.30 per barrel, its lowest level since early February, before Russia's invasion of Ukraine.


Brent oil prices rose by 0.5% to $93.81 per barrel. Both indices fell more than 3 percent on Thursday and were projected to fall between 12 and 17 percent for the week.


China launched missiles around Taiwan on Thursday, escalating tensions prompted by the presence of Nancy Pelosi, the speaker of the United States House of Representatives, in Taiwan.


It is anticipated that the move will have a negative impact on the value of other assets in the region, as well as on perceptions of Asia's major economies.


In addition, the Bank of England increased interest rates and proposed more anti-inflation measures, indicating that the United Kingdom may soon experience economic turbulence.


As most economies struggle with increasing inflation, the (rapid) tightening of monetary policy in the developed world is fanning worries of an oncoming recession.


The decrease in oil prices this week was caused by a cascade of bad industrial indicators, which raised worries of a demand slowdown.


The surprise weekly increase in crude oil stocks in the United States signaled a probable supply surplus in the world's largest oil consumer.


In this environment, the Organization of Petroleum Exporting Countries and its allies (OPEC+) announced the weakest production rise in their history, indicating a grim demand outlook.


Despite a drop in global demand, a rising energy crisis in Europe would sustain oil prices. As a response to Russia's invasion of Ukraine, the bloc is aiming to reduce its dependence on Russian oil and gas.


The fall in oil prices offers import-reliant economies some relief from the inflation induced by growing fuel expenses.


Focus is now on the U.S. nonfarm payrolls data, which will provide more insight into the largest economy in the world.

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