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No casualties have been reported in the 5.5-magnitude earthquake that struck Gao County, Yibin City, Sichuan Province.June 29 – Iranian Foreign Ministry: Iranian Foreign Minister Araqchi met and held talks with the Iraqi Prime Minister in Iraq on Sunday noon. During the meeting, Araqchi emphasized Irans determination to strengthen and expand relations with Iraq in various fields, and believed that cooperation between the two countries in the political, economic, security, commercial, cultural, and people-to-people spheres is in the common interest of both countries and contributes to enhancing regional stability and security. Araqchi also outlined the latest diplomatic developments aimed at ending the US-Israel war against Iran, and stressed the need for all regional countries to commit to maintaining security and peace, particularly preventing aggressors from using their territory and facilities to launch illegal attacks against Iran.On June 29, Russian President Vladimir Putin stated that car owners and businesses continue to face fuel supply difficulties, with long queues forming at gas stations across the country. Affected by the shutdown of several refineries, Russia is implementing measures to stabilize the domestic market. Putin confirmed that a complete ban on diesel exports is one of the alternatives currently under discussion. Following a meeting on Friday with oil producers and government departments, the Russian Energy Ministry did not recommend implementing a diesel export ban, citing concerns that it could lead to problems such as diesel inventory buildup. The government will reassess the market situation on Monday.Russian President Vladimir Putin: Long lines are forming at gas stations across the country, and gasoline is sometimes in short supply.Russian President Vladimir Putin: Russia has begun to use its fuel reserves, but gasoline stocks remain at the same level as last year.

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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