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The Iranian Revolutionary Guard launched a devastating missile and drone strike on fighter bunkers and large aircraft parking aprons at a U.S. military base in Azraq, Jordan.July 18th - According to reports from Kyodo News and other media outlets, Apple Inc. raised the prices of its iPhones in Japan on the 17th due to the depreciation of the yen and soaring semiconductor prices. The report indicates that, according to Apples official Japanese website, the official prices of multiple iPhone models have increased across the board. Among them, the higher-priced iPhone 17 Pro Max increased from 194,800 yen to 214,800 yen, an increase of 20,000 yen (approximately 834.6 yuan), or about 10.3%. Industry analysts believe that Apple may have adjusted the prices of its products due to exchange rate fluctuations.On July 18th, several foreign institutions expressed optimism about Chinas AI industry chain, noting that investing in it has become a global consensus. Data shows that China currently produces over 1.5 billion chips daily, and its large-scale models handle trillions of words daily, ranking first in the world. This year, the growth rate of Chinas core AI industry is expected to continue exceeding 30%. A recent industry research report from Goldman Sachs points out that the current total market capitalization of Chinas AI sector is approximately $4 trillion, indicating significant growth potential compared to its own industrial advantages. UBS, in its recent China equity strategy report, also noted that demand for AI technology components in China remains very strong, with orders already booked until the end of 2027.The National Highway Traffic Safety Administration (NHTSA) has announced that Ford is recalling 387,911 vehicles in the United States because seats may shift unexpectedly and fail to properly restrain occupants in a collision, increasing the risk of injury.On July 18th, according to the Financial Times, the UK Financial Conduct Authority (FCA) released updated regulatory data this week on short sellers bets on UK listed companies under new rules. The data contained several obvious errors, raising questions about the quality of information provided under the new disclosure regime. Previous regulations required the public disclosure of the specific names of hedge funds and investors holding significant short positions, but the new rules have removed this requirement. Instead, the regulator will now disclose the total short positions for each stock in an aggregated manner. The FCA released this data after the new rules came into effect. However, according to an analysis by data provider Breakout Point, the new information released by the FCA contains several obvious errors. Some positions were subsequently deleted or altered without leaving any record of the changes. The data also includes positions from several years ago, which are highly unlikely to still exist. Ivan Kosovich, founder of Breakout Point, stated that initial problems might be understandable and the situation is improving, but "hidden alterations" in official market records should not become the norm.

USD/JPY falls to 146.00 as the DXY weakens and interest in BOJ policy rises

Alina Haynes

Oct 27, 2022 15:28

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During the Asian session, in response to negative signals from the US dollar index, the USD/JPY pair plunged below 146.00. (DXY). Following Wednesday's low of 146.22, the asset's two-day downward trend has extended. The main index is reaching the bottom of Monday's knee-jerk reaction near 145.77 as it continues to decline.

 

The dollar bears are facing a severe sell-off due to the positive market sentiment. The risk-sensitive currencies have benefited from an increase in risk appetite. The US dollar index (DXY) has struck a new monthly low of 109.56 and is anticipated to stay volatile until the release of crucial US economic data.

 

The increased demand for U.S. government bonds has resulted in a decline in yields. This is due to the global markets' increased confidence. The yield on 10-year United States Treasury notes has decreased to 4%.

 

According to estimates, the Gross Domestic Product of the United States expanded by 2.4% in the third quarter. Despite the ultra-hawkish monetary policies of the Federal Reserve (Fed) and the previously disclosed 0.6% fall in growth, forecasts indicate a positive growth rate.

 

In addition, US Durable Goods Orders data will continue to be a key point. Compared to a reduction of 0.2%, it is projected that economic statistics will increase by 0.6%. Notable is the increase in core inflation, which includes oil and food prices. In spite of this, the predicted increase in demand for durable goods in the United States demonstrates healthy household demand.

 

Investors in Tokyo are anticipating the Bank of Japan's (BOJ) interest rate decision on Friday. In view of the shocks to foreign demand, BOJ Governor Haruhiko Kuroda will continue an ultra-loose monetary policy to stimulate the outlook for economic development. In addition, Japanese policymakers are anxious that the inflation rate could go below 2%; hence, an extremely liberal policy is the best alternative.

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