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August 2nd - The 2026 China-ASEAN Construction Ministers Roundtable Meeting was held in Ipoh, Malaysia on August 1st. Minister of Housing and Urban-Rural Development Ni Hong led the Chinese delegation to the meeting, delivering the opening address and a keynote speech. She introduced Chinas experiences and practices in housing and urban-rural development during the 15th Five-Year Plan period, the "Good Housing" initiative, and urban renewal. Ni Hong pointed out that promoting high-quality urban development is a common goal of China and ASEAN. China is willing to continue upholding the principles of good neighborliness, security, prosperity, amity, sincerity, mutual benefit, and inclusiveness, and a shared future, further strengthening cooperation in the fields of housing and urban construction, and working together to create a more distinctive and prosperous urban civilization with Asia-Pacific characteristics.A Russian diplomat stated that Ukraine is a "major hub for illicit arms trafficking," and that large quantities of weapons supplied by Western countries are being diverted elsewhere through this "Ukrainian hub."Russian diplomat: Ukraine is transferring some of the weapons provided by the West to conflict zones in Asia, the Middle East and Africa.Russian diplomat: Ukraine has fueled the global black market arms trade.On August 2, Irans Mehr News Agency quoted an Iranian military official as saying that US President Trumps claim that Irans demand to stop its attacks was "a new lie." The official stated, "Whether he continues his aggression or retreats, our forces are on high alert and prepared for anything. If confrontation is inevitable, the battlefield will decide everything, and then everyone will understand who holds the power and who has the final say."

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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