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Iraqs State Oil Marketing Organization (SOMO) has awarded a contract for the export of high-sulfur fuel oil, with all shipments to be exported via Syria.March 31 – U.S. job openings declined in February, and hiring slowed significantly, indicating that labor demand had cooled before the additional uncertainty caused by the war in Iran. Data released Tuesday by the U.S. Bureau of Labor Statistics showed that job openings fell to 6.88 million from an upwardly revised 7.24 million in January. The simultaneous slowdown in both hiring and openings, after a rebound in job openings at the beginning of the year, suggests that businesses are becoming more cautious about hiring after a year of near-zero growth. Looking ahead, the surge in oil prices triggered by the war could push up business operating costs and hinder further hiring. The decline in job openings was primarily driven by a slowdown in accommodation and food services, healthcare and social assistance, and manufacturing. The hiring rate fell to its lowest level since April 2020, while the layoff rate rose slightly. Although large companies, including Meta and Oracle, are proceeding with large-scale layoffs to reallocate resources to investments in artificial intelligence, the overall level of layoffs in the economy remains relatively modest.The head of exploration and production at Petrobras, Brazils state-owned oil company, said the companys daily crude oil production reached 2.9 million barrels in March.On March 31, the Conference Boards Consumer Confidence Index rose slightly by 0.8 points to 91.8 in March, up from 91.0 in February. The Current Situation Index, based on consumers assessment of current business and labor market conditions, rose 4.6 points to 123.3. The Expectations Index fell 1.7 points to 70.9. Cost pressures from tariff transmission and soaring oil prices have already been reflected in other indicators such as inflation expectations. "Consumer confidence rose slightly again in March, mainly as improved views on current conditions offset a slight weakening in future expectations," said Dana M. Peterson, chief economist at the Conference Board. "Three of the five sub-indices improved in March, marking the second consecutive month of slight increases in overall confidence. However, the index is still trending downward overall since 2021." The data also showed that against the backdrop of oil price shocks triggered by the Iran war, consumers average and median expectations for inflation over the next 12 months rose sharply in March to their highest level since August 2025. The net percentage of consumers who believe interest rates will rise in the next 12 months jumped from 34.9% to 42.4%.New York silver futures rose 5.00% on the day, currently trading at $74.11 per ounce.

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.