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According to Irans Mehr News Agency, a missile attack occurred in northern Tehran, resulting in one casualty.On April 4th, it was reported that TrueEV, XPengs exclusive distributor in Australia, entered administration (bankruptcy management) proceedings, drawing attention. XPeng responded that during the past two years of cooperation, it learned through various channels that TrueEV had experienced a broken cash flow and was under the control of its financing party, and had not purchased any vehicles for over a year, failing to fulfill order obligations including 454 cars. TrueEV also had a public business conflict with local dealers, severely damaging the foundation of trust between the two parties. Therefore, in accordance with the cooperation agreement, XPeng formally issued a breach of contract notice to TrueEV, terminating its exclusive distributorship, but retaining its distributorship status. However, TrueEV denied the aforementioned operational problems and instead pursued legal action against XPeng. The Australian court rejected its injunction application on April 1st. XPengs goal going forward is to establish itself in Australia within the next three years as a technology brand that is not only technologically advanced but also trustworthy in terms of user experience.On April 4th, it was reported that the international standard proposal for "DC Filter Capacitors for High Voltage Direct Current Transmission Systems," initiated by my country, was recently approved by the International Electrotechnical Commission (IEC). This standard is the first international standard specifically addressing DC filter capacitors in the field of high voltage direct current transmission, filling a gap in related professional standards. The standard was led by Chinese experts, with participation from experts from Italy, France, Germany, and other countries. The development of this standard will facilitate the sharing of advanced technological concepts of Chinas core high voltage direct current transmission equipment with the world, contributing more Chinese strength to global energy transition and power system upgrading.April 4th - Data released by the General Statistics Office of Vietnam shows that Vietnams economy slowed compared to the previous quarter due to heavy reliance on Middle Eastern oil imports. Vietnams GDP grew by 7.83% in the first quarter, lower than the 8.46% in the fourth quarter of last year. The Vietnamese governments growth target for this year is no less than 10%, but this target is currently under pressure. Vietnam imports over 80% of its crude oil from the Middle East, and oil shipments from the region have been disrupted due to the conflict with Iran. Rising fuel prices have forced Vietnamese airlines to scale back operations and prompted authorities to introduce cost-control measures, including reducing fuel taxes, subsidizing prices through government-controlled funds, and encouraging remote work to reduce consumption.Note: Vietnams March trade balance and March import year-on-year rate have not yet been released.

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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