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On January 11, the weather in northern and western Japan near the Sea of Japan has been extremely cold recently, with heavy snowfall in large areas over the past few days. In particular, the snow depth in Suoyu, Aomori Prefecture reached 3.7 meters on the 10th. Due to the snowfall, some sections of Japans highways were closed, and some Shinkansen trains were suspended or delayed.British Chancellor of the Exchequer Reeves: The fiscal rules set in the October budget are "non-negotiable". Global financial markets have undoubtedly changed.On January 11, Mitsubishi Motors President Takao Kato was interviewed on January 10. Regarding whether to join the management merger consultation between Honda and Nissan, he said "this is one of the options." Speaking of the envisioned benefits, Kato Takao said "We can actively get help in the North American business (where Mitsubishi Motors has no production base)." Kato Takao also pointed out that in terms of in-vehicle software development, "there will also be scenarios where the technical strength of the two companies will be utilized, which will be very beneficial." Honda and Nissan announced the full launch of management merger consultations in December last year. Mitsubishi Motors previously stated that it will decide whether to join the consultations around the end of January.On January 11, CICC commented on the US non-farm data. The team believes that the highlight of this time is the recovery of the service industry. The service industry has added 231,000 jobs, which has become the main driving force. Judging from the market reaction, the unexpected non-farm data has pushed the US Treasury bond interest rate and the US dollar to a new high, which is also in line with its judgment since the fourth quarter of last year: it believes that the US dollar is still strong and that interest rate cuts should be "done in reverse". When the interest rate cut is realized, it will be the low point of the US Treasury bond interest rate, rather than continuing to look at the recession and the starting point of the downward interest rate.German Geoscience Research Center GFZ: A 5.5-magnitude earthquake occurred in Ethiopia.

When Will the RBA Minutes Be Released and How Will They Affect the AUD/USD?

Drake Hampton

Apr 19, 2022 09:50

These minutes will be released at the top of the hour and will generate considerable attention, given the absence of the word "patient" in the post-meeting statement.

 

"Specifically, the spotlight will be on the Board's commitment to waiting for "significant new evidence...on both [our emphasis] inflation and the evolution of labor costs" before raising the cash rate," ANZ Bank analysts said. "The bigger the commitment, the less likely a shift in May is, despite the possibility of an extremely strong Consumer Price Print."

How Might the Minutes Affect the AUD/USD Exchange Rate?

AUD/USD is already reversing an hourly bearish impulse, so anything less than hawkish could serve as a stimulus for further negative movement.

 

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Concerning the RBA Minutes

The Reserve Bank of Australia publishes the minutes of its meetings two weeks after the interest rate decision. The minutes contain an exhaustive record of the policy discussion, including points of contention. Additionally, they record the votes of the Committee's individual members. In general, if the RBA is pessimistic about the economy's inflation prospects, markets price in a larger probability of a rate hike, which benefits the AUD.

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