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July 20th - On July 19th, the total crude oil production of the Bayan Oilfield in Bayannur, Inner Mongolia, exceeded 6 million tons. This marks the second time in just seven months that it has surpassed the 5 million ton mark, following its achievement in December 2025. In the first half of the year, the oilfield produced over 870,000 tons of crude oil, completing 51% of its annual plan. Daily production remained stable at 4,800 tons, a year-on-year increase of 20%, contributing nearly one-third of the daily output of the North China Oilfield.On July 20th, in an interview published by Iranian media on July 19th, Iranian Foreign Minister Araqchi revealed that during indirect negotiations between Iran and the United States before the Israeli military attack on Iran last June, the US attempted to "buy Iran" by making numerous promises, but he rejected them on the spot. Araqchi said he stated immediately that Iran would not sell its enriched uranium because it was obtained through 20 years of sanctions endured by the Iranian people and the sacrifices of Iranian scientists. He emphasized that the United States could neither threaten nor buy Iran.July 20th - Hedge funds short positions in the New Zealand dollar have reached a record high, as they believe the recent rebound in global oil prices could exacerbate economic pressures in New Zealand. Data from the Commodity Futures Trading Commission (CFTC) shows that in the week ending July 14th, leveraged funds increased their net short positions in the New Zealand dollar by 1,907 contracts to 29,582 contracts, the highest level since 2006. This bearish stance contrasts with the recent rebound in the New Zealand dollar, which was primarily driven by the Reserve Bank of New Zealands hawkish policies. Furthermore, investor concerns about New Zealands energy-importing economy are also reflected in the short bets, as escalating tensions between the US and Iran have caused oil prices to break through $90 per barrel again. The oil price shock could further worsen the countrys trade balance; last month, the country barely avoided a trade deficit, while domestic consumer spending declined.Wesfarmers Australia: Founders an artificial intelligence partnership with Microsoft (MSFT.O).Shanghai Auntie (02589.HK) once surged by more than 50% during the session, but the gains have now fallen back to 29%.

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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