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The main platinum contract fell 2.00% during the day, currently trading at 581.20 yuan/gram.January 9 (KCNA) – North Korean leader Kim Jong Un replied to Russian President Vladimir Putin on January 8, stating that North Korea will unconditionally respect and support all of Putins policies and decisions, and is willing to stand with Putin and Russia forever. In his letter, Kim Jong Un said, "Our close cooperation will continue as always, in accordance with the spirit of the comprehensive strategic partnership between North Korea and Russia, and in line with the strategic interests of both countries and the aspirations and desires of both peoples, in all aspects."Japanese Chief Cabinet Secretary Minoru Kihara: Italian Prime Minister Meloni will visit Japan from January 15 to 17.A chart summarizing the overnight price movements of international spot platinum and palladium.On January 9th, a research report from CITIC Securities stated that the Hang Seng Composite Index will undergo a new round of review on February 13th, with the adjustments officially taking effect on March 9th. The Hong Kong Stock Connect will also be adjusted accordingly. We expect 38 stocks to be included in the Hong Kong Stock Connect, with information technology, healthcare, materials, and consumer discretionary sectors having higher market capitalization weightings. A-shares and H-shares do not need to wait for periodic adjustments; they can be directly included in the Hong Kong Stock Connect after a price stabilization period. Therefore, one stock may have already been included before March 9th. We also suggest investors pay attention to timing opportunities between the Hang Seng Composite Index announcement date and the Hong Kong Stock Connect effective date. Furthermore, since some arbitrage funds may position themselves before the Hong Kong Stock Connect takes effect, while passive funds often adjust their positions on the trading day before the effective date, some less liquid stocks may experience a surge in trading volume at the end of the day.

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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