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According to the Washington Post: Trumps team appointed DOROTHY FINK as interim U.S. Secretary of Health and Human Services.Trump will declare a national energy emergency to develop new energy sources.On January 20, DBS Banks economic team said that recent wage and inflation data support the Bank of Japan to raise interest rates this week. Basic wages in November were close to the 3% threshold required to maintain a 2% inflation rate. Novembers CPI, core CPI and core-core CPI all exceeded 2% and are expected to continue to rise. They added that after receiving encouraging feedback, the Governor of the Bank of Japan and a deputy governor expressed confidence in the wage outlook. Rising hopes for a rate hike boosted the yen, with USD/JPY falling from 158 to 155 in the past week. If the Bank of Japan does not raise interest rates, it may push USD/JPY back to 160. The Bank of Japan may try to avoid communication errors that cause yen volatility.Cambrian rose 5% during the session, with a turnover of over 4.1 billion yuan.On January 20th, the reporter learned from SenseTime (00020.HK) that SenseTime Shanhui announced the completion of its Series A financing. This round of financing was led by GSR Ventures with tens of millions of yuan, followed by tens of millions of yuan from well-known asset management platforms and industrial capital such as Weimu Capital, Harvest Fund and Jinhong Fund. This round of financing will focus on retail AI algorithm research and development innovation and overseas market expansion strategy.

AUD/USD struggles to surpass 0.6350; Australian Inflation/US GDP under the microscope

Alina Haynes

Oct 25, 2022 15:37

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During the Tokyo trading session, the AUD/USD pair reversed its decline to trade near 0.6350. The Australian dollar is under pressure as a result of Jinping's pessimism in China. Despite a small decline in S&P500 futures following three straight bullish settlements, the risk-on inclination remains firm. Following a poor beginning in Tokyo, the US dollar index (DXY) is attempting to retake the critical 112.00 mark.

 

The yield on 10-year US Treasury notes has reduced to 4.21 percent as a result of a positive market sentiment. According to the CME FedWatch tool, the probability of a fourth consecutive rate hike by the Federal Reserve (Fed) of 75 basis points (bps) stands at 95%.

 

According to a Reuters survey regarding the Fed's interest rate forecasts, the central bank will announce its fourth consecutive 75 basis point rate increase. According to additional results of the Reuters poll, the central bank should not terminate monetary policy until the inflation rate falls to around half of its current level. Without a question, the Fed's aggressive rate-hiking cycle increases the probability of a future recession.

 

MSNBC reported that US Treasury Secretary Janet Yellen remarked, "Cannot rule out risk" of a recession, creating a huge surge in recession worries.

 

Thursday's Gross Domestic Product (GDP) numbers will dominate the news in the future. The annualized GDP is projected to climb significantly to 2.4%, compared to the earlier forecast of a 0.6% decline.

 

The Australian bulls have been shaken by the extraordinary third term of Chinese leader XI Jinping. China's economic prospects are in jeopardy, which has an effect on Australia's trade projections. Moreover, Australian Consumer Price Index (CPI) data is increasing popularity. According to projections, the annual rate of headline inflation will rise to 7.0% from 6.1% in the previous report.


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