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January 14th - Gold and silver continued to hit record highs during Asian trading hours due to escalating geopolitical risks. President Trumps statement on Tuesday that aid was imminent to Iranian protesters foreshadowed potential US action against the regime. Two foreign exchange strategists from OCBC Group Research noted in a report that the dramatic developments in Iran highlight the continued geopolitical uncertainty, while the fundamental support for precious metals remains solid.HRANA, a US-based human rights organization, reports that the confirmed death toll from the protests in Iran has risen to 2,571.January 14th - Demand for Japans five-year government bond auction on Wednesday was weaker than the 12-month average, with increasing political risks impacting investor willingness to subscribe. The bid-to-cover ratio for this auction was 3.08, lower than the 3.17 of the previous auction in December and also lower than the 12-month average of 3.54. This auction comes amid a wave of bond selling triggered by Prime Minister Sanae Takaichis consideration of a snap election. This market behavior, known as the "Takaichi trade," which previously caused a sharp drop in the yen, has resurfaced. The yield on five-year government bonds has risen to 1.615%, a new high since the maturity was introduced in 2000. Most economists expect the Bank of Japan to wait until June to raise interest rates. However, the continued weakening of the yen may increase pressure on the central bank to act sooner. Former Bank of Japan policy board member Makoto Sakurai believes the central bank may raise rates as early as April. The market is currently fully pricing in the first rate hike this year in July; if the yens weakness continues, there is room for further repricing in the market.The yield on 30-year Japanese government bonds rose 3.5 basis points to 3.515%.January 14th, Futures News: Economies.com analysts latest view: WTI crude oil futures prices retreated slightly during the previous trading day, mainly due to the key resistance level of $61.00. This resistance level was the target we anticipated in our previous analysis, and the stability at this level prompted the market to enter a natural profit-taking phase after the previous rise.

AUD/USD is stuck at 0.6900 and is unwilling to move

Daniel Rogers

Jul 20, 2022 11:56

 截屏2022-07-20 上午10.04.27.png

 

Phillip Lowe, the governor of the Reserve Bank of Australia, is now on the record saying that a hike in the cash rate is coming soon. The AUD/USD exchange rate is frozen at 0.69 as traders look for any hint from the governor of a 75 bp hike. However, so far in the speech, there has been no mention of such an increase.

 

The RBA said in its minutes that it is prepared for additional monetary tightening to go along with its most recent unexpectedly large rate increase, and officials vowed to continue to be steadfast in their fight against skyrocketing inflation. This led to an increase in the Australian dollar on Tuesday. In light of the tight labor market and impending inflation, the board noted that current interest rates were "still reasonably modest."

 

The governor brought up the most recent job statistics, which were released last week. According to this, Australia's net employment rose by 88,400 from May to June, which was more than three times the market expectation of a 30,000 rise. At the same time, the jobless rate decreased to a 48-year low of 3.5 percent. The Australian dollar is anticipated to appreciate along with threats from rising global inflation.


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