EUR/USD 1.17158
0.032%
Gold 4591.19
-0.130%
Oil 97.003
-0.492%
USD/JPY 159.584
-0.019%
GBP/USD 1.35220
0.033%
GBP/JPY 215.794
0.023%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Futures News, April 29th - According to foreign media reports, London Metal Exchange (LME) copper futures fell for the fourth consecutive day on Tuesday, hitting a two-week low, mainly due to a stronger US dollar, continued Middle East conflict boosting oil prices, and raising concerns about inflation and global economic growth. With the Iraq War now in its ninth week and no sign of a peaceful resolution in sight, the industrial metals sector continues to be affected by concerns about economic growth and demand stemming from the Middle East crisis. ING strategists stated that the conflicting parties appear to remain in a stalemate, and the supply of oil and other goods through the Strait of Hormuz remains severely restricted. This uncertainty puts pressure on the demand outlook for copper, which is dependent on economic growth. The market is focused on comments from central bank policymakers regarding inflationary pressures, with the Federal Reserve expected to maintain interest rates unchanged.According to foreign media reports on April 29th, American drivers are feeling an increasingly heavy "pain of refueling." Data from the American Automobile Association (AAA) on Tuesday (28th) shows that the average price of regular gasoline across the United States has risen to its highest level in nearly four years. Since the US-Israel attacks on Iran at the end of February, gasoline prices have risen by more than 40%. Data shows that the average price of gasoline across the US on Tuesday was close to $4.18 per gallon, up 11 cents so far this month; and up $1.19 per gallon since the end of February. More worryingly, there is still room for further price increases—last week, Brent crude futures rose by about 16% and US WTI crude rose by nearly 13% as diplomatic efforts to end the war with Iran stalled and supply concerns intensified. GasBuddy analysts pointed out that refinery maintenance and scheduled upkeep in the Great Lakes region will keep consumers in the region facing persistently high gasoline prices.The UKs National Institute of Economic and Social Research (NIESR) has lowered its 2026 UK economic growth forecast from 1.4% to 0.9% based on a moderate scenario.The UKs National Institute of Economic and Social Research (NIESR) predicts that, under a moderate scenario, the Bank of Englands interest rate will be raised to 4%.The UKs National Institute of Economic and Social Research predicts that the UK economy will grow by only 0.5% under an "unfavorable" Middle East scenario.

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

Alina Haynes

Jan 18, 2023 15:03

 AUD:JPY.png

 

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.

Suggestion