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Tesla India executive: Cars do not require regular maintenance, and most problems can be resolved through OTA software updates.On November 26th, Japanese Prime Minister Sanae Takaichi stated on Wednesday that the government is prepared to take "necessary" actions in the market and will closely monitor whether exchange rate fluctuations reflect economic fundamentals or are driven by speculative behavior. Responding to a question from an opposition lawmaker regarding the recent depreciation of the yen, Takaichi said, "We will closely monitor market movements, including Japanese government bond yields and the exchange rate." She also emphasized that her governments economic stimulus package is not "reckless spending" and stated that the government will strive to reduce Japans debt-to-GDP ratio while closely monitoring changes in bond yields. Takaichi added, "For me, the most important thing is to ensure the sustainability of Japans finances."On November 26th, six departments, including the Ministry of Industry and Information Technology, issued the "Implementation Plan on Enhancing the Matching of Supply and Demand for Consumer Goods and Further Promoting Consumption." The plan proposes the orderly development of platform consumption, including new business models such as live-streaming e-commerce, instant retail, curated retail, and circular e-commerce. It encourages platform enterprises to legally and compliantly utilize artificial intelligence technology to identify user needs and match them with recommended products and services. The plan supports platform enterprises in applying digital technologies such as virtual reality, metaverse, artificial intelligence, and blockchain to create multi-scenario, immersive consumption experiences. It also guides platform enterprises to conduct brand and quality-driven consumption promotion activities. Finally, the plan emphasizes the responsibility of platform enterprises, strengthening the review of operator qualifications and the verification of product information, and improving the rapid handling mechanism for consumer disputes.Tesla India executives announced the opening of Indias first Tesla service center in Gurgaon. The Gurgaon center is the countrys first to encompass sales, service, delivery, and logistics.On November 26th, six departments, including the Ministry of Industry and Information Technology, issued the "Implementation Plan on Enhancing the Matching of Supply and Demand for Consumer Goods and Further Promoting Consumption." The plan proposes actively promoting the first launches of consumer products. It supports the opening of first stores, flagship stores, and new concept stores for consumer goods, as well as the holding of debut shows and exhibitions. It also emphasizes actively cultivating platforms for product launches, upgrading the capabilities of core business districts, and building launch centers that integrate new product releases, displays, transactions, and promotion. Furthermore, it stresses strengthening the empowerment of digital technologies to build an "online + offline" product launch matrix. Finally, it leverages the comprehensive effects of international exhibitions to promote "Chinese trends going global" and "first launches overseas."

The USD/CHF exchange rate fluctuates at 0.94 prior to US five-year inflation projections

Alina Haynes

Dec 08, 2022 15:27

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During the Tokyo session, the USD/CHF pair is oscillating near the round-level barrier of 0.9400 as investors await the release of the United States' five-year consumer inflation forecasts for more direction. The Swiss franc is attempting to surpass the immediate resistance level of 0.9410, but the risk-on mentality stops the US Dollar from advancing further.

 

In the framework of the risk appetite theme, the US Dollar Index (DXY) is hitting resistance close to the significant level of 105.20. In the meantime, 10-year US Treasury yields have attempted to recover after falling to approximately 3.40 percent on Wednesday. The yield on long-term US Treasury bonds has rebounded to approximately 3.45%.

 

The growing unpredictability around the Federal Reserve's (Fed) policy outlook has caused market participants to feel anxious. As a result of favorable U.S. economic data, investors anticipate future rate hikes from the Federal Reserve to combat rising inflationary pressures. Moreover, it will compel a recession, as businesses will lower or maintain their current level of economic activity in response to rising interest liabilities.

 

At a Goldman Sachs financial conference, Bank of America (BoA) CEO Brian Moynihan informed investors that the United States economy will see "moderate contraction" in the first quarter of 2023.

 

Friday's release of US Consumer Inflation Expectations for the Next Five Years will continue to be closely monitored by investors.

 

Regarding the Swiss franc, investors are shifting their focus to the Swiss National Bank's (SNB) interest rate announcement scheduled for next week. As inflationary pressures are moderately over the target rate, it is predicted that SNB Chairman Thomas J. Jordan would continue to loosen monetary policy. This week, the Swiss Unemployment Rate fell to 2.1%, which is lower than the previous data of 2.0% and the consensus estimate of 2.2%.

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