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March 25 – Foreign Ministry Spokesperson Lin Jian held a regular press conference on March 25. It was reported that Venezuelan President Maduro and his wife will appear again in a U.S. federal court on March 26. A reporter from Venezuelas Southern Television asked at the conference what specific measures China is taking, together with the international community, to ensure the release of Maduro and his wife. Lin Jian stated that the U.S.s forceful control over a head of state clearly violates the purposes and principles of the UN Charter, international law, and the basic norms of international relations. China firmly opposes this. We support Venezuela in safeguarding its sovereignty, dignity, and legitimate rights.Türkiyes Energy Minister: Regional oil dependence is at a manageable level.March 25 – Foreign Ministry Spokesperson Lin Jian held a regular press conference on March 25. An AFP reporter asked, “According to US media reports, US President Trump stated that he has proposed a peace plan to Iran and expressed optimism about ending the nearly month-long conflict. At the same time, Iran has also announced that it will allow ‘non-hostile’ oil tankers to pass through the Strait of Hormuz. What is China’s response to these latest developments?” Lin Jian stated that China is deeply concerned about the continued tension in the Middle East and its impact on regional and international peace and stability. A ceasefire is of paramount importance, and dialogue and negotiation are the way to break the deadlock. We support all efforts conducive to easing tensions, de-escalating tensions, and resuming dialogue.March 25th - Following the lifting of US sanctions, buyers rushed to purchase Russian crude oil, but adopted a more cautious approach to Iranian oil. Earlier this month, the Trump administration temporarily lifted restrictions on Russian and Iranian oil to address soaring energy prices caused by the Middle East wars. However, due to the short duration of the waivers and compliance issues, oil flows are unlikely to return to normal. Ship tracking data shows that approximately 18 oil tankers east of the Suez Canal, carrying about 13.5 million barrels of Russian crude oil, may be available for purchase. This is a decrease from the 25 tankers carrying approximately 19 million barrels of crude oil nearly two weeks ago. In contrast, according to data from Vortexa Ltd., since Iran received its waiver last Friday, its crude oil inventory in floating storage facilities has remained relatively stable at around 27 million barrels. Floating storage typically refers to oil tankers that remain idle at sea for at least a week. Vandana Hari, founder of Singapore-based consulting firm Vanda Insights, said: “I expect that countries will be more hesitant to buy Iranian oil than Russian oil if they receive a US waiver. Iranian oil may have quality issues and there are questions about the payment mechanism, while Russian oil does not have these problems.”Musk stated that X will pause and reconsider its previous decision to update the creator monetization mechanism based on the number of views a creator receives in their home country.

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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