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Domestic News: 1. China-US trade consultations begin in New York. 2. The Ministry of Culture and Tourism issues the "15th Five-Year Plan for the Construction of the Public Cultural Service System". 3. The General Office of the CPC Central Committee and the General Office of the State Council issue the "Opinions on Promoting the Reform of Higher Education Institutions by Category". 4. The one-year and five-year LPRs remain unchanged. 5. Total electricity consumption in August exceeded one trillion kilowatt-hours again, with the load reaching a record high. 6. Changxin Technology announces the official mass production of its fifth-generation technology platform. 7. The State Administration for Market Regulation: will deploy special actions to regulate the live-streaming e-commerce industry. 8. The National Medical Products Administration: will strengthen the research and formulation of standards in cutting-edge fields such as brain-computer interfaces. 9. The State Administration for Market Regulation: will use a combination of measures to rectify "involutionary" competition and crack down on malicious low-price competition. International News: 1. Federal Reserves Kashkari: The Feds mission is to bring the inflation rate back to the 2% target. Inflation is still too high, and its not just due to oil prices. 2. US Treasury Secretary Bessenter: The purpose of the Treasurys repurchase operations is to increase liquidity and manage the debt maturity structure, not to control a market exceeding $30 trillion in some way. 3. Middle East Situation—① Iranian Parliament Speaker: The Strait of Hormuz will remain closed until Irans conditions are met. ② US Media: Trump says he is "making a decision" on the Iran issue; he may be willing to meet with the Iranian president. ③ Turkey says it may provide assistance to Saudi Arabia under the Mecca Mutual Defense Agreement. ④ Israeli Media: Netanyahus visit to the US is expected to be "exceptionally short," with him returning to Israel immediately after his speech at the UN General Assembly. ⑤ Iranian Military: Any US attack will lead to Iranian retaliation. ⑥ Explosion near Erbil Airport in Iraq, where US troops are stationed. ⑦ US Media: The US military will not launch an offensive against the Houthi rebels.On September 20, CNN, citing a U.S. official, reported that the U.S. military would not launch an "offensive strike" against the Houthi rebels in Yemen. The report stated that, according to the anonymous U.S. official, the support provided by the U.S. military to date has been limited to providing intelligence and target data for Saudi Arabias operations against the Houthis. Recently, the U.S. has increased its sharing of this information with Saudi Arabia, and believes it has provided Saudi Arabia with "everything it needs" to combat the Houthis.September 20 - On the morning of September 20 local time, the economic and trade teams of China and the United States began China-US economic and trade consultations in New York, USA.September 20 - According to foreign media reports on the 20th, an explosion occurred near Erbil Airport in Iraq, where US troops are stationed.Federal Reserves Kashkari: The labor market is quite strong.

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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