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On April 2, Jiang Ping, Director of the Inclusive Finance Department of the Financial Supervision Administration, said at a press conference held by the State Council Information Office on April 2 that the Financial Supervision Administration will promote the deep integration of the construction of the social credit system and financial supervision, actively participate in the construction of the social credit system, and guide financial institutions to make good use of the results of the construction of the social credit system. The Financial Supervision Administration will focus on solving the problem of information asymmetry between banks and enterprises, and guide financial institutions to query and use corporate credit information on the premise of compliance with laws and regulations and full authorization, and organically combine it with financial information, and widely use it in product development, credit approval, and post-loan management, so as to improve the quality and efficiency of financial services for the real economy.On April 2, JD.com issued a salary increase notice that Dada employees salaries will be upgraded to 19 salaries this year and to 20 salaries next year; in addition, some outstanding Dada employees will be awarded JD.com Group stocks.On April 2, CICC published a research report stating that due to the decline in coal prices, Yankuang Energy (01171.HK)s net profit fell 27% year-on-year last year, and its performance was roughly in line with the banks expectations. The bank expects the groups H-share earnings per share to be 9.2 billion and 11 billion yuan this year and next year, respectively. Although the decline in coal prices may drag down Yankuang Energys profits in the short term, in the long run, the group has huge growth potential and is optimistic about its profit growth. The bank maintains the groups outperform rating. Due to the slowdown in supply and demand and the decline in short-term profits, the H-share target price was lowered by 38% to HK$10, equivalent to a forecast price-to-earnings ratio of 10.3 times and 8.4 times this year and next year, respectively.Hong Kong-listed UBTECH Robotics (09880.HK) once rose by more than 7% during the session, but the increase has now narrowed to 5%.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: If tariff measures are implemented, we will quickly set up a special consultation window and provide capital flow and financing support.

When will the Australian trade balance be released, and how will the AUD react?

Drake Hampton

Apr 07, 2022 10:24

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At the top of the hour, Australia's Trade Balance will be released. Westpac analysts forecast a $13.2 billion trade surplus, within a whisker of last July's $13.3 billion top (median forecast $11.7 billion).

 

Analysts forecast exports to increase more in February, by +2.2 percent, or $1.1 billion. They observe that coal and LNG are likely to have advanced in price and volume terms. 

 

"Iron ore demand is projected to drop slightly despite higher prices, as shipments were weak last month. Imports fell -1.6 percent in January, following a 13 percent increase in the previous two months as a result of the post-delta reopening. February is predicted to see a continuation of the rise, +2.2 percent, +$0.8bn, on stronger volumes and rising prices."

What can we anticipate from AUD?

AUD/USD has failed to climb higher despite the Reserve Bank of Australia (RBA) adopting a more hawkish position on inflation developments by abandoning its 'patient' posture. According to the monetary policy statement, the Australian economy has remained resilient and spending has increased in the aftermath of the omicron setback.

 

The AUD/USD pair surged to a high of 0.7661 but then fell back to the 0.7480s due to a strong US dollar. Unless the surplus surprises positively, the Australian dollar is expected to stay under pressure from the strength of US rates and the dollar.

Concerning the Trade Balance 

The Australian Bureau of Statistics publishes the trade balance, which is the difference between the value of its imports and exports of Australian goods. Export statistics can provide valuable insight into Australian growth, while import data provide insight into domestic demand. The trade balance provides an early indication of the performance of net exports. If there is consistent demand for Australian exports, this will result in positive increase in the trade balance, which should benefit the AUD.

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