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According to news on October 25, from January to September this year, the cumulative transaction volume of new houses in Foshan was 23,611 units and 2.8425 million square meters, which was lower than the transaction volume in the same period last year; but the cumulative transaction volume of second-hand houses was 40,990 units and 5.008 million square meters, an increase of 3.3% and 4.3% year-on-year respectively.On October 25, Russian Presidents Special Representative Kirill Dmitriev said during his visit to the United States on the 24th that he believed that all parties were "very close" to reaching a diplomatic solution to the Ukrainian issue, and Russia was open to Ukraine obtaining third-party "security guarantees" in the future.According to the Suzhou Release WeChat official account on October 25th, a series of events were held in Zhangjiagang High-tech Zone (Tangqiao Town) on the morning of October 24th, including the groundbreaking ceremony for the dishwasher smart manufacturing project of Xiaomis ecological chain company, Qingmei Technology; the opening of the Zhangjiagang High-tech Zone Cross-border Empowerment Center; and the signing of the personal care small appliance smart manufacturing project of Xiaomis ecological chain company, Xiaobei Technology. According to reports, the dishwasher smart manufacturing project of Xiaomis ecological chain company, Qingmei Technology, has a total investment of 500 million yuan, with a planned annual production capacity of 500,000 dishwashers. Upon reaching full production, it is expected to generate an annual output value of 800 million to 1 billion yuan. The personal care small appliance smart manufacturing project of Xiaomis ecological chain company, Xiaobei Technology, has a total investment of 500 million yuan. Upon reaching full production, it is expected to have an annual production capacity of 15 million units and an annual output value of 2.4 billion yuan.On October 25th, the China Railway Corporation announced that the 12306 Customer Service Center will add a new group ticketing service by phone, raising the maximum number of tickets per order to 19. The 12306 app will also increase the maximum number of train tickets per order from 9 to 19, and the number of passengers that can be added to a single 12306 account from 15 to 30.On October 25, the Russian Ministry of Defense announced that Russian air defense forces shot down 121 Ukrainian drones in various regions of Russia overnight. The report stated: "Over the past night, air defense weapons on duty intercepted and destroyed 121 Ukrainian fixed-wing drones: 20 over Rostov Oblast, 19 over Volgograd Oblast, 17 over Bryansk Oblast, 12 over Kaluga Oblast, 11 over Smolensk Oblast, 9 over Belgorod Oblast, and 9 over Moscow Oblast. Seven of these drones flew in the direction of Moscow, eight each over Voronezh and Leningrad Oblasts, two each over Novgorod, Ryazan, and Tambov Oblasts, and one each over Tver and Tula Oblasts."

While waiting for PBOC and PMIs data, the AUD/JPY pair temporarily retreats to around 94.20

Daniel Rogers

Aug 22, 2022 14:52

 

 

The early Tokyo session saw the AUD/JPY currency pair hit a momentary pause in the rise around 94.20. Since the start of today's trading session, the risk barometer has shown a strong open-drive action, with the asset climbing significantly. The temporary roadblock is expected to go sooner rather than later as investors anticipate a dovish tone from the People's Bank of China (PBOC).

 

Australia is China's largest trading partner, which is worth noting. The antipodes will reap the benefits of the PBOC's easy monetary policy as a result. Enhanced Chinese liquidity will benefit Australia's exports and the country's budget.

 

The Australian bulls held firm last week despite a sharp drop in the country's employment report. The Australian Bureau of Statistics reported a decrease of 40,900 jobs when a gain of 25,000 had been forecasted. However, it was determined that the unemployment rate should be 3.4% rather than 3.5%, thus that number has been adjusted downward.

 

And yet, yen bulls showed no signs of buying despite an increase in the national consumer price index (CPI). When compared to the expected 2.2% and the prior reading of 2.4%, the actual economic data came in at 2.6%, which is an increase. The Bank of Japan (BOJ) may take a wait-and-see approach if inflation continues to run above 2% for an extended period of time.

 

In the future, information from IHS Markit's S&P Purchase Managers Index (PMI) will be crucial. Forecasts call for improvements in both the Manufacturing PMI (57.3) and the Services PMI (54.9) in Australia. A rise to 51.8 and 50.7 in the Manufacturing and Services PMIs for Japan is possible.

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