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On May 12, South African President Cyril Ramaphosa addressed the nation on television, denying any wrongdoing in the 2020 theft from his private farm and emphasizing that he would not resign. On the same day, the South African National Assembly decided to initiate impeachment proceedings to reopen the investigation into allegations of misconduct against Ramaphosa. On May 8, the Constitutional Court ruled that the National Assemblys obstruction of further investigation four years ago into the theft of approximately $580,000 in cash from Ramaphosas private farm was unconstitutional. The Constitutional Court ordered the National Assembly to establish an impeachment committee to review the relevant reports and decide whether to initiate formal impeachment proceedings against Ramaphosa.On May 12th, the International Organization for Standardization (ISO) officially released five international standards in the natural gas sector, spearheaded by my country. These standards will provide a "Chinese solution" for cost reduction, efficiency improvement, and security assurance in the global energy market through precise quantitative indicators. In shale gas development, the series of international standards led by my country, titled "Determination and Calculation of Shale Brittleness Index," addresses the pain points of difficulty in identifying high-quality reservoirs and high costs of fracturing in shale gas development. For the first time, it standardizes a technical framework for compressibility evaluation at the international level. After applying this standard, the accuracy rate of identifying high-quality shale reservoirs is expected to improve by about 10%, supporting an increase in the success rate of single-well exploration and development from the industry average of 65% to over 85%. The operating cost of a single shale gas well can be reduced by more than 10%.1. Russian reports indicate the ceasefire agreement has expired. 2. Russian Ministry of Defense: Ukraine violated the ceasefire agreement. 3. Finnish President: Europe should consider direct dialogue with Russia. 4. Ukrainian Ministry of Energy: The Chernobyl nuclear exclusion zone fire is under control. 5. Zelenskyy met with the German Defense Minister to advance several military and energy cooperation initiatives. 6. Zelenskyy: Ukraine is preparing for a new attack. Ukraine and the US maintain diplomatic communication; a prisoner exchange plan between Ukraine and Russia is under discussion. 7. According to Russian reports, Ukraines attack on Russias Belgorod region resulted in one death and three injuries. 8. Russian Deputy Prime Minister Novak: Russia lowered its 2026 economic growth forecast from 1.3% to 0.4%. It lowered its 2027 GDP growth forecast from 2.8% to 1.4%; growth is expected to reach 2.4% in 2029.Top Control announced on the Hong Kong Stock Exchange that it plans to issue 65.3 million H shares in Hong Kong, priced at HK$26.39 per share, and is expected to start trading on May 20.According to the Wall Street Journal, sources say senior officials from the U.S. Department of Justice and the Department of Defense have met to discuss the investigation.

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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