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Sonata Software has secured a multi-million dollar modernization deal in Australia with a global leader in access solutions. This project will standardize business processes across 13 countries, migrate data from legacy systems, and enhance warehousing processes, utilizing Microsoft Fabric for improved decision-making. The deal was finalized in Q1FY25 and follows previous contracts in the region focused on data modernization and system upgrades.
EUR/JPY and USD/JPY have declined amid speculation that the Bank of Japan may raise interest rates next month, while AUD/USD has bounced off its November low at $0.6435, targeting a rise towards $0.6549. EUR/JPY's recent drop has neutralized its medium-term outlook, with potential downside targets at ¥158.11, while resistance is noted between ¥161.49 and ¥162.35. For USD/JPY, minor resistance is identified around ¥153.29.
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Qantas Airways Limited operates as a major airline in Australia, providing international and domestic air transport services, cargo services, and a frequent flyer program. Its segments include Qantas Domestic, the leading carrier in the Australian market, Qantas International targeting premium customers, Jetstar Group for budget travel, and Qantas Loyalty for consumer programs. The airline is recognized for its in-flight Wi-Fi and upgrades in domestic lounges, enhancing the travel experience for its passengers.
Qantas Airways Limited, an Australian airline, operates both domestic and international air services, cargo services, and a frequent flyer loyalty program. Its segments include Qantas Domestic, Qantas International, Jetstar Group, and Qantas Loyalty, catering to various markets and customer needs. The airline is recognized for its comprehensive service aimed at business travelers and premium holidaymakers.
The Australian government has introduced a bill in parliament aimed at imposing potentially billion-dollar fines on major supermarket chains. This legislation seeks to enforce an industry code of conduct that ensures suppliers are treated fairly and not mistreated by these retailers.
The Nasdaq is steadily climbing towards record highs despite tariff threats, while the ASX 200 faces volatility due to banking sector responses and potential tariff increases. Bitcoin's recent rally has stalled below $100,000, with expectations for a retest soon, supported by a pro-crypto administration. Meanwhile, crude oil prices remain stagnant, and the Australian dollar fluctuates in response to tariffs and cautious Fed outlooks.
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Asian stocks faced pressure as concerns grew over potential tariffs from incoming U.S. President Donald Trump, particularly targeting Canada, Mexico, and China. The yuan weakened to 7.2650 per dollar, nearing a four-month low, while the Australian dollar also approached its recent lows. In contrast, the New Zealand dollar rebounded after a smaller-than-expected interest rate cut by its central bank.
Asian markets exhibit mixed performances amid cautious risk sentiment, influenced by Donald Trump's tariff threats. The Nikkei 225 is down 0.40%, while the ASX 200 rises 0.56%. In Australia, inflation data shows a CPI drop to 2.1%, complicating rate expectations for the central bank. The AUD/USD pair responds positively, defending an upward trendline support.
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Australia's pension funds have exceeded A$4 trillion ($2.6 trillion) in assets, driven by a surge in inflows from compulsory contributions. The sector experienced a 13.4% growth over the year ending in September, with total assets reaching A$4.1 trillion and contributions rising by 13.1% to A$191 billion.
Asian markets opened mixed as risk sentiments fluctuate, with the Nikkei down 0.40% and the ASX up 0.56%. Donald Trump's tariff threats are causing uncertainty, particularly affecting trade-dependent markets. The USD/JPY is trading near its 200-day moving average, with crucial support at 151.95, while the AUD/USD is attempting to maintain an upward trendline despite mixed inflation data from Australia.
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