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February 23, local time on February 23, Russian presidential press secretary Peskov responded to Ukrainian President Zelenskys remarks after the meeting between Russia and the United States. He stressed that the negotiation process between the Russian and American heads of state on the Ukrainian issue should not be hindered in any way, and the two sides should smoothly realize their respective political will. Peskov specifically pointed out that Donetsk and other four places will not conduct any form of transactions or transfers. In 2022, after the outbreak of the Russian-Ukrainian conflict, Luhansk, Donetsk, Zaporizhia, and Kherson joined the Russian Federation through referendums in September of that year. Recently, the United States proposed a so-called "rare earth for aid" mineral cooperation agreement to Ukraine. Ukraine has rich rare earth reserves, of which lithium and titanium are the main components of Ukraines rare earth resources. Although Ukraines key mineral resources are diverse, some of them are already under the control of Russia. On February 20, local time, Ukrainian President Zelensky said that he was ready to reach an agreement with the US President on investment and security issues.According to a Reuters/Ipsos poll on February 23, 58% of Americans said that inflation would be an important factor in their voting in future elections, and 32% approved of Trumps approach to inflation. 55% said that deporting illegal immigrants would be an important factor, and 47% approved of Trumps approach to immigration.SHEINs sales in 2024 increased by 19% to $38 billion; net profit decreased by nearly 40% to $1 billion.Russias Defense Ministry said Russian troops captured Ulakli and Novoderivka in eastern Ukraine.Ukraine said Russia launched 267 drones at Ukraine overnight, 138 of which were shot down.

As Australian Retail Sales Continue To Underperform Expectations, AUD/JPY Corrects To Near 87.20

Alina Haynes

Mar 28, 2023 15:36

AUD:JPY.png 

 

The AUD/JPY pair has declined to near 87.20 as a consequence of weaker Retail Sales data from the Australian Bureau of Statistics. The increase in economic data was 0.2%, which was less than the consensus estimate of 0.4% and the previous release of 1.9%. A weaker-than-anticipated retail demand suggests that households are unable to compensate for the impact of inflated products with their present purchasing power.

 

The headline may suggest weakening retail demand, but the Reserve Bank of Australia (RBA), which is working to restrict elevated inflation, is ecstatic.

 

This week, the Australian Dollar is expected to remain in focus prior to the release of the monthly Consumer Price Index (CPI) (Feb) data on Wednesday. According to projections, the inflation rate will decline from 7.4% to 7.1%.

 

There is evidence that Australia's inflation rate has begun to decline, as stated by the RBA's policymakers. As the present monetary policy is already sufficiently restrictive to control persistent inflation, the RBA could conclude its policy-tightening process at the April monetary meeting.

 

In addition, the National Bureau of Statistics' (NBS) Manufacturing PMI for China will be the most influential factor for the Australian Dollar. China's economy is now focused on the road to economic recovery, following the elimination of pandemic controls. Consequently, a respectable performance is anticipated within the manufacturing industry. Australia is China's most important trading partner, and an increase in the Chinese PMI will also boost the Australian Dollar.

 

Haruhiko Kuroda, the former governor of the Bank of Japan (BoJ), will continue to be the center of attention in Tokyo. BoJ Kuroda may reaffirm the continuation of ultra-loose monetary policy to stimulate earnings and the economy's overall demand.


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