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August 4th - Recently, the Cyberspace Administration of China (CAC) launched a special campaign called "Clean Up the Online Environment and Rectify Malicious Hype of Enterprise-Related Information." Based on letters from relevant departments and local cyberspace administrations, a number of illegal and irregular accounts that infringe upon the legitimate online rights and interests of enterprises and entrepreneurs will be dealt with severely.According to JLC Network Technology, several airlines will lower domestic fuel surcharges starting from midnight on August 5th, marking the third reduction this year. After the adjustment, adult passengers will be charged 40 yuan for flights of 800 kilometers or less, and 70 yuan for flights over 800 kilometers, a decrease of 10 yuan and 30 yuan respectively compared to before the adjustment. 1. This fee has fluctuated throughout the year: it remained low in the first quarter (10 yuan for flights under 800 kilometers, 20 yuan for flights over 800 kilometers); due to geopolitical conflicts, international crude oil and jet fuel prices rose, leading to consecutive increases in April and May, peaking in May (90 yuan/170 yuan); subsequently, with the easing of geopolitical tensions and falling oil prices, it decreased twice in June and July, finally seeing a third consecutive drop on August 5th. 2. Domestic fuel surcharges are linked to aviation kerosene prices and are determined by the National Development and Reform Commission and the Civil Aviation Administration of China based on international oil prices, which airlines then implement. Currently, it is still summer vacation, and long-distance travel is increasing; this reduction will slightly lower the cost of long-distance air travel for the public.On August 4th, Japanese Economy, Trade and Industry Minister Minoru Jonouchi stated that the cost increases caused by the Middle East conflict have so far had a limited impact on consumer prices, and offered a relatively optimistic assessment of inflation risks. Jonouchi said, "The overall Consumer Price Index (CPI) rose 1.7% year-on-year in June, indicating that the rate of price increases remains relatively moderate." He made these remarks in response to the Bank of Japans warning last week regarding the "increased risk of inflation exceeding expectations." However, Jonouchi added, "We do need to remain vigilant, as costs may gradually be passed on to food and other consumer goods prices from this summer to autumn."The China Earthquake Networks Center officially reported that a magnitude 3.4 earthquake occurred at 10:25 a.m. on August 4 in Gao County, Yibin City, Sichuan Province (28.53 degrees north latitude, 104.67 degrees east longitude), with a focal depth of 5 kilometers.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.3 occurred at 10:25 AM on August 4th near Gao County, Yibin City, Sichuan Province (28.53°N, 104.67°E). The final result is subject to the official rapid report.

The AUD/JPY exchange rate fluctuates below 90.00 as investors await BoJ action

Alina Haynes

Jan 18, 2023 15:03

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In the early Asian session, the AUD/JPY currency pair is bouncing violently in a narrow range below the resistance level of 90.00. Before the Bank of Japan introduces its first monetary policy of CY2023, the risk barometer indicates a sideways auction (BoJ). The AUD/JPY exchange rate reflects the consolidation of the AUD/USD, indicating an uncertain risk profile.

 

Investors anticipate that the Bank of Japan (BoJ) will not alter its policy stance on Friday, as doing so would increase financial market risk and hinder efforts to boost inflation. Previously, the Bank of Japan (BoJ) announced that the central bank will review the negative side effects of the decade-long ultra-loose monetary policy, generating the impression that the central bank is eager to abandon the easy policy.

 

The experts at Standard Charted expect the Bank of Japan to hold both the policy balance rate and the 10-year yield goal at their present levels of -0.1% and 0%, respectively. The recent decision to expand the 10-year JGB band to +/-50 bps (from +/-25 bps) will be evaluated by policymakers at the December meeting.

 

The replacement of current Governor of the Bank of Japan Haruhiko Kuroda will be widely followed. The next BoJ governor nominee is anticipated to be presented to the Japanese parliament on February 10, Reuters reported on Tuesday. Amamiya, Nakaso, and Yamaguchi are regarded as leading C.banking candidates.

 

Thursday is the expected publication date for Australian employment statistics, which investors are monitoring. The Unemployment Rate is expected to remain constant at 3.4%, according to the majority of economists. Aside from this, the Australian economy must have added 22,500 new jobs to the labor market in December, a down from the prior rises of 64K.