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On April 18th, the International Air Transport Association (IATA) warned that the Middle East conflict could trigger aviation fuel rationing measures, with flight cancellations in Europe potentially starting as early as the end of May. IATA urged governments to develop coordinated and comprehensive response plans as soon as possible to mitigate the impact on flight operations. According to Lianhe Zaobao, IATA Director General Walsh stated on Friday (April 17th) that the International Energy Agencys earlier assessment that European aviation fuel shortages could begin within about six weeks should be taken very seriously. Walsh said, "Based on the current situation, Europe could begin canceling flights due to aviation fuel shortages as early as the end of May, and similar situations have already occurred in parts of Asia."On April 18, Iranian Deputy Foreign Minister Saeed Khatibzadeh stated that Iran will never accept a US blockade of its ports or any other "orders" issued by the US. "There will never be any blockades in the future," he said. "The era of colonialism must end," he added. The US "cannot dictate to other countries."The UK Maritime Trade Operations Office has received reports of an incident occurring 20 nautical miles northeast of Oman.April 18th - While Hong Kongs IPO market is booming, some companies seeking to list are submitting substandard or overly embellished listing documents. Liu Ying, Co-Head of Initial Public Offering Review at the Hong Kong Stock Exchanges Listing Division, stated in an interview that companies seeking to expedite the approval process must ensure their information disclosure is truthful, accurate, comprehensive, and concise. The Hong Kong Stock Exchange is currently reforming its listing mechanism, allowing applicants to submit materials confidentially, but simultaneously upgrading its penalty mechanisms. If the materials fail to meet standards, the names of the sponsor, law firm, accountants, and other professional teams will be publicly disclosed. She reminded the market that thorough preparation is the fastest path to listing.April 18 - According to the Iraqi National News Agency, the Iraqi Ministry of Oil stated that oil exports from all oil fields will resume in the coming days. Four energy sources said that after a disruption of more than a month due to shipping blockages in the Strait of Hormuz, Iraq resumed oil exports from the south on Friday, with one tanker already loading crude oil.

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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