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U.S. Agriculture Secretary Rawlings: More announcements related to increased fertilizer shipments will be released.March 22 – The Australian government stated on the 22nd that although fuel imports have been impacted by the conflict with Iran, supplies remain sufficient and there are no plans for rationing. Regarding the panic buying of gasoline in a few areas, the government urged the public to refuel rationally. Australian Climate Change and Energy Minister Chris Bowen said in a television interview that as of the 21st, the countrys reserves of petrol, diesel, and aviation fuel were sufficient for 38 days, 30 days, and 30 days respectively, and fuel supplies remained "strong."Market news: Fannie Mae and Freddie Mac have made large-scale purchases of mortgage-backed securities.March 22 - Iranian President Ayatollah Peschizian posted on social media this evening (March 22), stating that "attempts to wipe Iran off the map are a desperate trampling on the will of a nation that makes history. Threats and intimidation will only strengthen Irans unity. The Strait of Hormuz is open to everyone except those who violate Iranian territory. Iran will resolutely confront these insane threats on the battlefield."On March 22, U.S. Treasury Secretary Bessenter defended the U.S. and Israels attacks on Iranian infrastructure, claiming that "sometimes you have to escalate to de-escalate." This came shortly after Trump gave Iran 48 hours to open the Strait of Hormuz and threatened to destroy its power plants. Bessenter defended Trumps remarks, saying it was "the only language the Iranians understand." Bessenter also addressed Kharg Island, a key hub for Iranian oil production, claiming that "all options are being considered," including sending U.S. troops to control the island. Bessenter further defended the decision to ease some sanctions on Iran, claiming it was a "soft approach" to the Iranians—using their own oil to retaliate against them.

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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