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Market news: Japans foreign exchange intervention over the past month reached a record 15.4 trillion yen.The draft revision of the Road Traffic Safety Law and other laws are open for public comment.On August 28th, in an interview broadcast on Lebanons Al-Ahram TV on the evening of August 27th, Rezaei, Secretary of Irans Supreme National Security Council, pointed out that Iran has endured severe sanctions from the United States for a long time and is now under a naval blockade by the US military. Even so, Iran has not yielded, so what other tricks does the US have up its sleeve? Rezaei stated that the previous actions of the US and Israel were, to some extent, more like psychological warfare bluffing. Iran has not yet taken any action specifically targeting US economic interests in the Middle East. If Iran were to launch an economic war, people would see "who suffers greater economic losses." Iran will certainly not sit idly by in the face of hostile economic measures taken by the United States.On August 28th, the Ministry of Housing and Urban-Rural Development and other departments jointly issued the "Notice on Improving the Sales System of Commercial Housing," clarifying the need to accelerate the implementation of existing housing sales and continuously optimize the traditional pre-sale model for commercial housing. Overall, the "Notice" makes new requirements for both pre-sale and existing housing sales. In fact, prior to the new regulations, Hainan, Jingmen in Hubei, and other places had already conducted pilot programs for existing housing sales. This newly released "Notice" signifies another step forward for existing housing sales, officially and steadily promoting it nationwide. Overall, promoting existing housing sales is timely. The core of this policy is very clear: to strictly control the risks of property delivery, prevent the misappropriation of funds, and address pain points in the housing market such as unfinished buildings, delayed delivery, substandard housing quality, and difficulties for homebuyers in protecting their rights, comprehensively safeguarding the legitimate rights and interests of ordinary homebuyers. This new policy adheres to the principle of prudence, avoiding a "one-size-fits-all" approach, and adopts a dual-track approach of pre-sale and existing housing sales with a steady transition, gradually optimizing the industrys development model while stabilizing the housing market. In the long run, the steady transition from pre-sale to completed housing will completely restructure the housing transaction security system, eliminate high-risk development models in the industry, make the real estate market more standardized and healthy, and make ordinary people feel more at ease and confident when buying a house.August 28 - The Iranian Foreign Ministry stated that Iran calls on all countries to avoid implementing US sanctions. Iran is determined to use all its capabilities to defend the country from a "joint military and economic offensive by the US and Israel."

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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