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Micron Technology (MU.O): Will collaborate with GlobalWafers to explore next-generation wafer technology and process innovation.Micron Technology (MU.O): The supply agreement with GlobalWafers will ensure access to a large amount of raw silicon wafer capacity.July 9th - Bank of America analysts stated that Comet Holdings sales should grow rapidly by the end of 2028, benefiting from the expansion of memory chip manufacturing capacity. The Swiss-based Comet manufactures components used to produce memory chips. As companies respond to AI-driven demand and build new memory chip factories, Comet will benefit from its large capacity to handle new orders. Bank of America raised its revenue and profit margin forecasts for Comet by the end of 2028. Comet shares led the gains among Stoxx Europe 600 index constituents, rising nearly 12%.On July 9th, an internal memo revealed that Meta Platforms plans to begin production of an AI chip in September as part of its plan to increase total computing power to 14 gigawatts next year. This data center chip, codenamed "Iris," is part of Metas fourth-generation in-house Training and Inference Accelerator (MTIA) project. The company plans to use the custom chip to improve the AI capabilities powered by its Facebook and Instagram social media platforms. The memo indicates that the chip underwent testing in just six weeks without any major issues being identified. This relatively rapid progress signals a positive turn for the company after an internal project that has stalled since its inception five years ago. Meta is customizing the chip to its own needs, collaborating with Broadcom on design and with TSMC on manufacturing. This approach is expected to help the company reduce its massive computing costs and lessen its reliance on chip suppliers such as Nvidia and AMD. There have been no previous reports regarding the chips completion of vulnerability testing and production timeline. Meta declined to comment.U.S. Trade Representative Greer praised Apple and Microns recently announced manufacturing investment plans.

The AUD/JPY exchange rate fluctuates below 90.00 as investors await BoJ action

Alina Haynes

Jan 18, 2023 15:03

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In the early Asian session, the AUD/JPY currency pair is bouncing violently in a narrow range below the resistance level of 90.00. Before the Bank of Japan introduces its first monetary policy of CY2023, the risk barometer indicates a sideways auction (BoJ). The AUD/JPY exchange rate reflects the consolidation of the AUD/USD, indicating an uncertain risk profile.

 

Investors anticipate that the Bank of Japan (BoJ) will not alter its policy stance on Friday, as doing so would increase financial market risk and hinder efforts to boost inflation. Previously, the Bank of Japan (BoJ) announced that the central bank will review the negative side effects of the decade-long ultra-loose monetary policy, generating the impression that the central bank is eager to abandon the easy policy.

 

The experts at Standard Charted expect the Bank of Japan to hold both the policy balance rate and the 10-year yield goal at their present levels of -0.1% and 0%, respectively. The recent decision to expand the 10-year JGB band to +/-50 bps (from +/-25 bps) will be evaluated by policymakers at the December meeting.

 

The replacement of current Governor of the Bank of Japan Haruhiko Kuroda will be widely followed. The next BoJ governor nominee is anticipated to be presented to the Japanese parliament on February 10, Reuters reported on Tuesday. Amamiya, Nakaso, and Yamaguchi are regarded as leading C.banking candidates.

 

Thursday is the expected publication date for Australian employment statistics, which investors are monitoring. The Unemployment Rate is expected to remain constant at 3.4%, according to the majority of economists. Aside from this, the Australian economy must have added 22,500 new jobs to the labor market in December, a down from the prior rises of 64K.

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