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Futures News, May 27th: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes: 1. Pulp futures warehouse receipts: 207,266 tons, unchanged from the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged from the previous trading day; 3. Offset paper futures warehouse receipts: 957 tons, unchanged from the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,560 tons, unchanged from the previous trading day; 5. Fuel oil futures warehouse receipts: 45,160 tons, unchanged from the previous trading day. 6. Petroleum asphalt futures warehouse receipts: 21,120 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 31,220 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 3,511,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.Bank of Japan: Potential profits from ETFs held by the Bank of Japan total ¥1.7409 trillion in fiscal year 2025 and ¥1.3826 trillion in fiscal year 2024.At the close of trading on the 27th, apart from the CCB Energy and Chemical Futures ETF and the Huaxia Feed Soybean Meal Futures ETF which saw slight gains, commodity funds such as the Southern Shanghai Gold ETF, E Fund Gold ETF, and Bosera Gold ETF all fell, generally by more than 1%, while Guotou UBS Silver Futures (LOF) fell by more than 4%.According to Futures News on May 27, as of 15:00 Beijing time, spot platinum fell 1.82% and spot palladium fell 1.41%.On May 27th, it was learned from the Traffic Management Bureau of the Ministry of Public Security that the recommended standard for the public security industry, "Rules for Determining Fatigue Driving by Motor Vehicle Drivers," will be implemented on June 1st. The person in charge of drafting the standard explained that this standard is for traffic accident investigations, specifically applicable to the determination of fatigue driving by motor vehicle drivers during the investigation and handling of road traffic accidents. After confirmation with the Ministry of Transport, the two scenarios for determining fatigue driving by passenger vehicle drivers in the standard apply to road passenger transport enterprises, as well as drivers and vehicles engaged in road passenger transport (i.e., scheduled passenger transport, chartered passenger transport, and tourist passenger transport), but do not involve taxi (including ride-hailing) operations. Meanwhile, the standard does not have specific provisions for the continuous driving time of truck drivers, applying the general provisions for motor vehicles, namely, a driver who has driven continuously for more than 4 hours without stopping for rest or whose rest time is less than 20 minutes.

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.