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On October 13th, Commonwealth Bank of Australia (CBA) economist Belinda Allen stated that the Reserve Bank of Australias (RBA) November policy meeting "remains highly uncertain." Allen said that CBA currently believes the RBA will not raise interest rates, but acknowledges a high risk of misjudging the situation. She pointed out that recent statements from RBA officials have been "clearly hawkish," focusing on upside risks to inflation while paying less attention to downside risks to economic growth. Allen stated that the signals from recent RBA communications indicate that the central bank remains concerned about persistent inflationary pressures and may need to maintain a more cautious policy stance.On October 13th, at the 2026 Kirin Media Communication Conference, Xu Songyu, Minister of Wireless Terminal Chip Product Management Department of Huawei Semiconductor Business, unveiled for the first time the detailed architecture diagram of the Kirin 9050 Pro logic-folding chip, including the new generation Lingxi CPU, Ma Liang GPU, Da Vinci architecture NPU, Kirin AI ISP, Balong AI Modem, FFTS function flow task scheduler, audio and video processor, security processor, and the collaborative work of the Lingxi microcore. Xu Songyu revealed that the next-generation Kirin 2027 chip is also ready, and so far, all test results have met expectations, thus ensuring the sustainability of the evolution (logic folding) over the next 10 years. As for the specific stages and the technologies required for each point, these will likely be gradually developed and discussed.On October 13, the International Monetary Fund (IMF) warned that the extreme weather caused by the ongoing El Niño phenomenon could further weaken commodity markets, amplify the impact of high fertilizer prices, and disrupt other climate-sensitive sectors such as transportation. The IMF stated that past experience shows El Niño typically pushes up food and commodity prices while dragging down economic activity, particularly in economies where food spending constitutes a large portion of consumer spending. The IMF pointed out that these risks are especially pronounced for energy-importing countries, particularly emerging market and developing economies with limited fiscal space and weak external buffers. If commodity prices remain high, it could widen current account deficits in these countries and exacerbate exchange rate pressures. Meanwhile, higher inflation could force central banks to adopt tighter monetary policies, further hindering economic growth.On October 13th, regarding the latest test results of the Zunjie V800 brake pedal released by Zunjie Auto, a sales representative from a dealership stated that the official test results fully comply with safety standards. However, they revealed that despite meeting the standards, the upgrade will still proceed as planned. "Those who have placed orders now, including those who ordered before delivery, will use the new, optimized pedal solution. Those who have already taken delivery will also receive an upgrade." According to Zunjie Autos previous statement on October 8th, even under non-standard extreme testing conditions, they aim to provide users with greater safety redundancy: they will further optimize the component design and offer free upgrade options to already delivered customers. The latest test results from Zunjie Auto on October 13th show that the Zunjie V800 brake pedal, after inspection, meets the industry standard QC/T 788-2018 requirements (longitudinal force 1500N, displacement ≤5mm), and after a more stringent test to a longitudinal force of 3000N, no cracks or damage were found.October 13th - A quarterly survey released by the Bank of Japan on Tuesday showed that the proportion of Japanese households expecting prices to rise over the next year fell to 88.6% in September, down from 90.4% in June. The survey also showed that 86.5% of respondents expected prices to rise over the next five years, slightly higher than 86.1% in June. The data indicates that although short-term inflation expectations among Japanese households have declined, long-term inflation expectations remain at a high level.

USD / NZD Bulls Arrive At The Highs And Apply Pressure Below 0.6250

Daniel Rogers

Mar 02, 2023 16:17

 NZD:USD.png

 

NZD/USD is down roughly 0.27 percent, falling from a high of 0.6257 to a low of 0.6238, wiping out some of the gains made in the middle of the week in reaction to information indicating a recovery in China demand, which raised commodity prices.

 

This came after Australia released a disappointing report, where GDP growth fell to 0.5% quarter-over-quarter from 0.7% earlier and fell short of consensus forecasts of a 0.8% rise. The information raised the chance that the Reserve Bank of Australia would stop raising rates sooner than anticipated, which originally hurt both currencies.

 

However, the kiwi profited from speculative buying after China's non-manufacturing activity expanded at a faster pace in February and the Caixin/S&P Global manufacturing PMI report for last month also exceeded expectations. The offshore yuan rose 1.3% to 6.8683 per dollar, recording its largest one-day rise since late November.

 

The New Zealand currency outperformed most of its peers, according to ANZ Bank analysts, and did well on crosses, especially NZD/AUD. "After the strong German CPI report, the EUR was a strong performer, and the Kiwi followed suit. This trend may have been worsened by stop-loss buying in the NZD/AUD pair because there was no clear NZD catalyst. This may result in muted price action in the coming days.

 

The USD mood is also changing. Bond yields climbed as a result of strong data last week, which caused the DXY to soar. However, last night's solid data dragged on the dollar in a "good news is bad news" way, probably due to worries that the Fed will orchestrate a recession. Is the strength of the NZD a tardy acknowledgment of the economy's resilience and post-cyclone recovery? Has performed admirably."