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On April 8, Huawei Terminal announced that Huawei Vision Smart Screen 5 has started pre-sale. This is the first time that the product series has been upgraded to adopt Hongmeng AI, Honghu Super MiniLED, and support Huawei Lingxi pointing remote control. The price starts at 5,499 yuan.On April 8, according to AXIOS, Republicans in the United States admitted that they felt the pressure from Trumps tariffs, and their Wall Street sponsors felt it too. Previously, some senators proposed bills to restrict the presidents ability to impose tariffs, and Trump made it clear that he would not tolerate any restrictions on his ability to do so. But some uneasy Republican donors hope that lawmakers can help convince the president that tariffs are destroying the economy. Although lawmakers refused to disclose the specific content of the donors conversations, their concerns were high after three days of stock market chaos. At the same time, some Republican senators have stood up and publicly criticized Trumps tariffs, insisting that it is a tax on American consumers.Reuters poll: The Philippine central bank will cut its key policy rate by 25 basis points to 5.50% on April 10, and the key policy rate is expected to fall to 5.00% by the end of 2025.On April 8, a 256GB version of iPhone 16 Pro was officially priced at $1,100. According to data calculated by the US media, it costs Apple about $580 to make a mobile phone. But after the United States announced a 34% so-called "reciprocal tariff" on China, plus the existing 20% tariff, the increased tax will reach $296.86. The cost of a mobile phone rose to $876.79, an increase of more than 50%. According to Morgan Stanleys forecast, the cost of this round of tariffs may cause Apple losses of up to $33 billion per year.On April 8, the State Administration for Market Regulation reported the results of the national supervision and random inspection of 27 types of product quality. A total of 8,218 batches of products from 7,841 production units and 2,937 sales units were inspected, and 740 batches of unqualified products were found. Follow-up inspections found 287 production units that failed the last inspection, of which 46 production units still had unqualified products. Products with a high rate of unqualified inspections mainly include: synthetic resin emulsion interior wall paint, automatic rice cookers, electric hand warmers, etc. In response to the problems found in this national supervision and random inspection of product quality, the State Administration for Market Regulation requires all relevant provincial market supervision departments to quickly handle the follow-up work.

AUD/USD soars to almost 0.6400 on stronger-than-expected 7.3% Australian CPI

Alina Haynes

Oct 26, 2022 15:31

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The AUD/USD pair increased to 0.6400 after the Australian Bureau of Statistics reported that the headline Consumer Price Index (CPI) for the third quarter of CY2022 was 7.3%, which was higher than the consensus expectation of 7.0% and the previous release of 6.1%. In addition, the quarterly inflation rate has matched the prior estimate of 1.8% and above predictions of 1.5%.

 

This may drive the Reserve Bank of Australia (RBA) to announce a higher rate hike in its upcoming monetary policy. The RBA raised the Official Cash Rate (OCR) by 25 basis points (bps) to 2.6% during its monetary policy meeting in October. Governor Philip Lowe of the RBA slowed the pace of rate hikes in October, after the central bank had projected a 50 basis point rate hike period. Now, a larger-than-expected rate hike will require the RBA to return to a rate hike cycle of 50 basis points.

 

The Aussie bulls displayed a significant increase on Tuesday and defended the pessimism generated by Chinese President Jinping. The extraordinary third term of Chinese President XI Jinping lowered investor enthusiasm for Chinese stocks and other linked assets. Because Jinping's ideology-driven policies are detrimental to China's economic prospects, Australia was punished for being China's most important trading partner.

 

In the interim, the US dollar index (DXY) is retracing and has surpassed the 111.00 mark. Following a three-day purchasing binge, the risk-on profile has taken a knock as S&P500 futures have experienced a dramatic plunge. This could be a correction in the S&P 500 index after a bigger advance.