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On December 21, Russian Presidential Aide Ushakov told the media that the proposal to hold trilateral talks between Russia, the United States, and Ukraine has not yet been put on the agenda or discussed. He also pointed out that the modifications proposed by Ukraine and Europe to the Russia-Ukraine "peace plan" are not conducive to advancing the agreement. Ushakov confirmed that Russias Special Representative for Foreign Investment and Economic Cooperation, Dmitriev, is currently in Miami holding talks with the US. He revealed that Dmitriev will report on the results of the talks with the US after returning to Moscow. On the same day, Russian Presidential Press Secretary Peskov told the media that President Putin has no plans to speak with US President Trump before the end of the year, but arranging a call would be easy.On December 21st, according to Japanese sources, during a debate program, Itsunori Onodera, chairman of the Liberal Democratic Partys (LDP) Security Research Council, proposed that it is necessary to discuss the definition of the "Three Non-Nuclear Principles." He discussed Japans current reliance on the US "nuclear umbrella," stating, "This is one of the issues that should be discussed." Onodera said the LDP plans to submit a related motion to the Cabinet in February next year to promote discussion in the Diet. The "Three Non-Nuclear Principles" refer to not possessing, manufacturing, or introducing nuclear weapons. Recently, several political parties, politicians, and numerous civic organizations in Japan have called for adherence to the "Three Non-Nuclear Principles" to avoid a repeat of the tragedy of war.Kremlin: The idea of a trilateral meeting between Russia, the United States, and Ukraine has not yet been discussed.On December 21, the Communist Party of Cuba issued a statement on its official website on the 20th, condemning the US governments escalation of aggression against Venezuela in the strongest terms and accusing the US of its recent actions in Venezuela of being a deliberately planned and dangerous act.SpaceX: Public safety is always our top priority during flight tests. We will continue to ensure that public safety is maximized.

AUD/JPY bulls cheer China-inspired optimism; Japan data near 89.50 are mixed

Daniel Rogers

Dec 27, 2022 11:12

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The AUD/JPY pair creeps higher around 89.50 as bulls capitalize on the cautious Christmas market optimism. In doing so, despite the most recent dip, the cross-currency pair extends Friday's gains to hit weekly highs.

 

Nonetheless, the price increase may be linked to the risk-on market mentality, which was mostly driven by China, as well as lowering expectations of hawkish actions by the Bank of Japan (BOJ).

 

As on January 8, China no longer requires inbound travelers to undergo COVID quarantine. In addition to geopolitical concerns from Russia and North Korea, the news contributed to the market's cautious optimism. S&P 500 Futures advance intraday by 0.60 percent to 3,892, while 10-year US Treasury rates remain slow at roughly 3.74% as of press time.

 

After the central bank adjusted monetary policy last week, Governor Haruhiko Kuroda and Prime Minister Fumio Kishida of the Bank of Japan (BOJ) and Prime Minister of Japan (PM) Fumio Kishida, respectively, attempted to calm hawkish expectations. According to Kuroda of the BOJ, however, the broadening of the yield band is not a forerunner to an easy policy exit. In a similar spirit, Japanese Prime Minister Kishida ruled out the BOJ and government amending the central bank statement.

 

In terms of the facts, Japan's Unemployment Rate declined to 3.5% in November compared to the 3.6% predicted previously, while the Jobs / Applicants Ratio for the same month was 1.35 compared to the market prediction of 1.35. In addition, year-over-year growth in Retail Trade fell to 2.6% from 2.8% anticipated and 4.0% earlier.

 

A quiet schedule ahead of Saturday's official China PMIs and year-end market inaction will restrict AUD/JPY movement moving forward.


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