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On Wednesday, July 29, the Shanghai Gold Exchanges gold T+D contract closed down 0.08% at 881.8 yuan/gram; the Shanghai Gold Exchanges silver T+D contract closed up 1.5% at 14219.0 yuan/kilogram.According to Fox News: The U.S. Senate held a hearing today to discuss the impact of artificial intelligence on the workplace.July 29th Futures News: On July 29th, the Shanghai Futures Exchanges energy and chemical warehouse receipts and changes are as follows: 1. Pulp futures warehouse receipts: 340,665 tons, an increase of 2,019 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 2,758 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,600 tons, unchanged compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 16,960 tons. 6. Petroleum asphalt futures warehouse receipts: 11,290 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 18,210 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.July 29th - For a long time, the core technologies for high-end motorcycle engines worldwide were monopolized by a few foreign companies. Recently, Chinese automakers have successfully broken this barrier. A high-speed motorcycle test was recently held at the China Communications Construction Company (CCCC) Comprehensive Test Track in Shangrao, Jiangxi Province. After multiple rounds of extreme sprints, a domestically produced motorcycle achieved a test speed of 315.82 kilometers per hour, successfully breaking the speed record for domestically produced motorcycles and shattering the monopoly of Japanese, German, and Italian brands in the high-performance motorcycle engine market. This breakthrough in core motorcycle engine technology is rapidly translating into orders in the global market. In the first half of this year, exports from domestic motorcycle manufacturers increased by 23.99% year-on-year, with overseas markets becoming a significant driver of industry growth. A production manager at one company stated that from January to June this year, the company exported over 20,000 motorcycles, with products reaching Southeast Asia, Europe, and the United States, generating over 200 million yuan in output value, a year-on-year increase of 100%.Deutsche Banks European shares fell 5.9% after the bank released its earnings report.

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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