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On April 4, the Yangtze River Delta Railway ushered in the peak of passenger flow during the Qingming Festival. It is expected to send 4.1 million passengers today, 365,000 more than the same period last year, an increase of about 9.8%, and is expected to set a new record for single-day passenger volume. This years Qingming Festival railway transportation will start from April 3 to 7. The Yangtze River Delta Railway is expected to send 17.6 million passengers in 5 days, with an average daily passenger flow of 3.52 million, a year-on-year increase of 6.8%.The yield on the two-year U.S. Treasury note fell to a six-month low of 3.6550% and was last at 3.6611%.On April 4, local time on April 3, U.S. Secretary of Health and Human Services Robert Kennedy Jr. said that about 20% of the layoffs in the Department of Government Efficiency were wrong and needed to be corrected. The U.S. Department of Health and Human Services laid off about 10,000 people on the 1st. Kennedy said that people who should not have been laid off were laid off, and the department is restoring their positions. Kennedy said that canceling the entire lead poisoning prevention and monitoring department of the Centers for Disease Control and Prevention was one of the mistakes. At present, it is unclear what other projects Kennedy may plan to restore.Bank of Japan Governor Kazuo Ueda: Will consider the impact of food costs on consumers.On April 4, local time on the 3rd, the automobile company Stellantis said that due to the impact of the US import automobile tariff policy, the company decided to lay off 900 employees in its five US factories and suspend production operations at two assembly plants in Canada and Mexico. Antonio Filosa, Chief Operating Officer of Stellantis Americas, said that the US factories that were laid off were powertrain and stamping parts factories, which produced spare parts for two assembly plants in Canada and Mexico. According to the plan, the assembly plant in Canada will stop production for two weeks, and the assembly plant in Toluca, Mexico will suspend production throughout April. Filosa said the company is "continuing to evaluate the medium- and long-term impact of tariffs on operations."

The AUD/JPY Recovers from the Day's Low of 91.30, as the BOJ's Policy is Examined

Daniel Rogers

Apr 28, 2022 10:04

The AUD/JPY pair has drawn offers near 91.60 in the early Tokyo session, as investors await the Bank of Japan's (BOJ) monetary policy decision on Thursday. Since Wednesday, the pair has been swinging within a narrow range of 91.02-91.98 due to market participants' concern regarding the release of the BOJ's interest rate decision.

 

According to market expectations, the BOJ will maintain the status quo by maintaining current interest rates. Japan's inflation rate, at 1.2 percent, is the highest since October 2018 but remains much lower than the aim of 2%. Additionally, Japan's growth rate has not yet returned to pre-pandemic levels, implying that a rate hike decision is ruled out. Thus, an ultra-loose monetary policy will continue to be critical, and additional stimulus packages may be offered.

 

Meanwhile, the odds of the Reserve Bank of Australia (RBA) hiking rates have increased, mostly as a result of the Australian Bureau of Statistics reporting annual Australian inflation at 5.1 percent. Consumer Price Index (CPI) reading came in significantly higher than the forecasted 4.6 percent. Additionally, the quarterly CPI came in at 2.1 percent, exceeding expectations of 1.7 percent. The RBA stated at its most recent monetary policy meeting that they are not seeing any meaningful price pressure that would require them to announce a rate hike, and have adopted a data-dependent strategy for additional guidance. Now, the tide may be turning in May in favor of aggressive monetary policy.

AUD/JPY

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