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On January 17, local time on January 16, the U.S. House of Representatives passed a bill aimed at deporting convicted illegal immigrant sex offenders with a vote of 274 in favor and 145 against. The bill was originally proposed by South Carolina Republican Congressman Nancy Mace to strengthen the crackdown on sex crimes and domestic violence crimes. Some Democrats voted against it, believing that the bill failed to fully consider the actual situation.Germanys DAX30 index closed up 28.40 points, or 0.14%, at 20,644.27 points on January 16 (Thursday); Britains FTSE 100 index closed up 91.54 points, or 1.10%, at 8,392.67 points on January 16 (Thursday); Frances CAC40 index closed up 160.15 points, or 2.14%, at 7,634.74 points on January 16 (Thursday); Europes The STOXX 50 index closed at 5,104.95 points on Thursday, January 16, up 72.64 points, or 1.44%; the Spanish IBEX 35 index closed at 11,833.23 points on Thursday, January 16, down 65.27 points, or 0.55%; the Italian FTSE MIB index closed at 35,821.00 points on Thursday, January 16, up 174.04 points, or 0.49%.U.S. Treasury auction for the eight weeks ending January 16 - the bid-to-cover ratio was 2.89, compared with the previous value of 2.81.The bid-to-cover ratio for the U.S. Treasury bond auction for the four weeks ending January 16 was 2.74, compared with the previous value of 2.92.The winning rate of the U.S. Treasury bond auction for the four weeks ending January 16 was 4.24%, and the previous value was 4.245%.

Before the PBoC's monetary policy announcement, AUD/JPY recovers strongly from 92.00

Alina Haynes

Feb 20, 2023 11:14

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Despite a difficult start to the Tokyo session at 92.10, the AUD/JPY pair has gained momentum. The risk barometer has recovered to approximately 92.30 and is expected to continue its upward trend in the near future. Ambassador Linda Thomas-Greenfield, the US representative to the United Nations, declared on Sunday that China would cross a "red line" if it sent lethal military help to Russia in response to its invasion of Ukraine.

 

According to Reuters, recent news from public broadcaster NHK that Japan's Coast Guard said North Korea fired three projectiles that may have been ballistic missiles has compounded the already negative market sentiment.

 

When the United States conducted bilateral air exercises with South Korea and Japan in response to the North's ICBM launch on Sunday, Kim Yo Jong, the sister of North Korean leader Kim, warned against the escalating deployment of U.S. strategic weapons on the Korean peninsula.

 

Investors await the People's Bank of China's interest rate announcement for additional guidance (PBoC). Eight out of 10 economists, according to a Reuters poll published on February 17, believe that the PBoC would retain the Loan Prime Rate (LPR) at 3.65%. After the abolition of currency restrictions, China is required to maintain an expansionary monetary policy to stimulate economic growth.

 

Bloomberg stated that Goldman Sachs predicts the MSCI China Index could reach 85 by the end of 2023, a nearly 24% increase from current levels, as the nation's economic opening generates windfall advantages for corporations.

 

Notably, Australia is a major trading partner of China, and the increased economic activity in China will benefit the Australian Dollar.

 

On Tuesday, preliminary Jibun Bank PMI (Feb) data will be released, which will have a substantial impact on the Japanese Yen. The Manufacturing PMI is expected to remain constant at 48.9, whilst the Services PMI is expected to increase from 51.1 to 51.5.

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