EUR/USD 1.15786
-0.086%
Gold 4321.49
0.289%
Oil 79.099
-0.928%
USD/JPY 160.240
-0.065%
GBP/USD 1.33983
-0.104%
GBP/JPY 214.698
-0.162%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Reserve Bank of Australia Governor Bullock will hold a monetary policy press conference in ten minutes.June 16 – The 68th meeting of the Standing Committee of the 14th National Peoples Congress (NPC) was held on the morning of June 16 at the Great Hall of the People in Beijing. Chairman Zhao Leji presided over the meeting. The meeting decided that the 23rd session of the Standing Committee of the 14th NPC will be held in Beijing from June 23 to 26. The meeting recommended that the 23rd session of the Standing Committee of the 14th NPC deliberate on the State Councils proposals regarding the draft revisions to the Bidding and Tendering Law, the draft Financial Law, the draft revisions to the Law of the Peoples Bank of China, and the draft decision authorizing the Hong Kong Special Administrative Region to exercise jurisdiction over the Hong Kong side of the Huanggang Port and related extended areas.The yield on Japans 5-year government bonds rose 5 basis points to 1.915%.The Central Bank of Ukraine projects foreign aid of $53 billion this year, $42 billion in 2027, and $22 billion in 2028.On June 16th, Takashi Fujiwara, Chief Fund Manager at Resona Asset Management, stated that the Bank of Japans (BOJ) statement explicitly indicated that short- and medium-term real interest rates are negative. This could mean the BOJ does not want ultra-long-term bond yields to rise further. Simultaneously, this could also be a signal from the BOJ that if short- and medium-term interest rates remain low, businesses can easily raise funds and potentially expand into higher-risk sectors. The BOJ discussed the economy and prices side-by-side in its statement. This could indicate the BOJs willingness to raise interest rates further. Even if the opening of the Strait of Hormuz slows price increases, the BOJ can still use economic growth as justification for raising interest rates.

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