EUR/USD 1.14956
-0.074%
Gold 5022.43
0.327%
Oil 95.969
2.946%
USD/JPY 159.226
0.097%
GBP/USD 1.33081
-0.084%
GBP/JPY 211.904
0.076%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Industry analyst Dorab Mistry: The outlook for edible oil prices remains uncertain as weak import demand offsets optimistic expectations for the biodiesel industry.On March 17th, Mitsubishi UFJ Morgan Stanley Securities stated in a report that despite tensions in the Middle East, the Bank of Japan may still raise interest rates at its April meeting. Analysts at the firm stated that during periods of inflation, central bank policy must shift its focus from supporting short-term economic sentiment to anchoring inflation expectations to ensure medium- to long-term economic stability. Given that geopolitical risks have become the new normal, stabilizing the yens exchange rate is becoming increasingly important for Japan, which heavily relies on raw material imports.Indonesias 7-day reverse repo rate as of March 17 was 4.75%, as expected and unchanged from the previous rate.The China Earthquake Networks Center officially reported that a magnitude 3.2 earthquake struck Yuli County, Bayingolin Mongol Autonomous Prefecture, Xinjiang, at 15:18 on March 17, with a focal depth of 13 kilometers.On March 17, Foreign Ministry Spokesperson Lin Jian held a regular press conference. When asked about the conflict between Afghanistan and Pakistan, Lin Jian stated that Afghanistan and Pakistan are neighbors that cannot be moved, and dialogue and negotiation are the only effective way to resolve the issues between the two countries. China hopes that both sides will remain calm and restrained, engage in face-to-face exchanges as soon as possible, achieve a ceasefire quickly, and resolve their differences through dialogue. China has urged Afghanistan and Pakistan to ensure the safety of Chinese personnel, projects, and institutions, and will continue to play a constructive role in easing tensions and improving relations between the two countries through its own channels.

Before the PBoC's monetary policy announcement, AUD/JPY recovers strongly from 92.00

Alina Haynes

Feb 20, 2023 11:14

AUD:JPY.png 

 

Despite a difficult start to the Tokyo session at 92.10, the AUD/JPY pair has gained momentum. The risk barometer has recovered to approximately 92.30 and is expected to continue its upward trend in the near future. Ambassador Linda Thomas-Greenfield, the US representative to the United Nations, declared on Sunday that China would cross a "red line" if it sent lethal military help to Russia in response to its invasion of Ukraine.

 

According to Reuters, recent news from public broadcaster NHK that Japan's Coast Guard said North Korea fired three projectiles that may have been ballistic missiles has compounded the already negative market sentiment.

 

When the United States conducted bilateral air exercises with South Korea and Japan in response to the North's ICBM launch on Sunday, Kim Yo Jong, the sister of North Korean leader Kim, warned against the escalating deployment of U.S. strategic weapons on the Korean peninsula.

 

Investors await the People's Bank of China's interest rate announcement for additional guidance (PBoC). Eight out of 10 economists, according to a Reuters poll published on February 17, believe that the PBoC would retain the Loan Prime Rate (LPR) at 3.65%. After the abolition of currency restrictions, China is required to maintain an expansionary monetary policy to stimulate economic growth.

 

Bloomberg stated that Goldman Sachs predicts the MSCI China Index could reach 85 by the end of 2023, a nearly 24% increase from current levels, as the nation's economic opening generates windfall advantages for corporations.

 

Notably, Australia is a major trading partner of China, and the increased economic activity in China will benefit the Australian Dollar.

 

On Tuesday, preliminary Jibun Bank PMI (Feb) data will be released, which will have a substantial impact on the Japanese Yen. The Manufacturing PMI is expected to remain constant at 48.9, whilst the Services PMI is expected to increase from 51.1 to 51.5.

Suggestion