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August 24th - According to sources familiar with the matter, the Canadian government believes the possibility of resuming negotiations with US President Trump before the midterm elections is extremely slim, as trade talks have broken down. The source stated that Canadian Prime Minister Carney indicated he would prepare a domestic aid package to help businesses affected by US tariffs. Sources say these measures are designed to help businesses weather the remainder of Trumps term if necessary. However, while the Carney government sees no immediate signs of restarting negotiations, some sources warn that the situation remains dynamic, and the US has not ruled out renegotiating. The sudden breakdown of negotiations has forced Carney to prepare for a potentially long winter. Carney reportedly told reporters, "We will support affected businesses for as long as possible, in other words, even beyond the end of this US administrations term. We have established various mechanisms, and all details will be released within the next few days."On August 24th, it was reported that the U.S. Postal Service issued new rules for mail-in ballots on August 23rd local time. The rules require states to submit lists of voters who have applied for mail-in ballots and to affix unique barcodes containing names and addresses to both mailed and returned ballot envelopes for verification and tracking. The U.S. Postal Service stated that the collected data will be managed separately from state voter rosters and will aid in the enforcement of federal law. Due to a court injunction, the new rules will not take effect immediately and will only be implemented after the injunction is lifted. This years midterm elections are crucial for the battle for control of the House and Senate. Regarding mail-in ballots, the Supreme Court rejected a Republican appeal in June, allowing some local governments in the U.S. to still count ballots postmarked no later than Election Day but delivered later.The Nikkei 225 index opened down 153.79 points, or 0.23%, at 65,862.57 on Monday, August 24.On August 24th, according to foreign media reports, ExxonMobil stated in a statement that a fire in the laundry room of a floating vessel off the coast of Guyana forced the company to temporarily suspend operations at the facility. The statement said the fire on the Liza Unity floating production storage and offloading (FPSO) unit was quickly extinguished. An ExxonMobil Guyana spokesperson said that crude oil unloading operations were affected due to the temporary shutdown. The Liza oil field is key to Guyanas transformation into a major crude oil producer, and the Liza Unity FPSO is responsible for producing approximately 250,000 barrels of crude oil per day of the more than 900,000 barrels per day in the Stabrok block.According to Al Jazeera: Israeli airstrikes near a hospital in Gaza have injured several people.

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.