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April 17th - According to the latest data released by Counterpoint Research on Friday, Apples (AAPL.O) iPhone shipments in China grew by 20% in the first quarter of this year, the strongest growth among major suppliers. The data shows that smartphone shipments in China, the worlds largest smartphone market, declined by 4% between January and March, mainly due to supply chain disruptions and soaring memory chip prices. However, Huawei and Apple bucked the trend, achieving growth of 2% and 20% respectively.On April 17th, European Central Bank (ECB) Governing Council member Michel Mueller stated that the ECB needs to remain vigilant regarding potential inflation risks arising from the Iran war, but should not act rashly. There are currently no signs of a broader second round of price impacts, and the ECB is in a more favorable position than it was in 2022. However, it would be "too dangerous" to assume that the energy shock is temporary and can be completely ignored. He stated, "We can perhaps exercise a little patience and not rush into action. But of course, we dont want to hesitate and fall behind the developments."On Friday, April 17, the Hang Seng Index closed down 233.93 points, or 0.89%, at 26,160.33; the Hang Seng Tech Index closed down 49.4 points, or 0.97%, at 5,042.68; the H-share Index closed down 60.09 points, or 0.67%, at 8,845.02; and the Red Chip Index closed down 21.69 points, or 0.5%, at 4,325.72.The Eurozones unadjusted current account balance for February was €21.1 billion, compared to €13 billion in the previous month.The Eurozones seasonally adjusted current account balance was €25 billion in February, compared to €37.9 billion in the previous month.

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.

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