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March 17 - Following Iranian Foreign Minister Araghchis denial of recent contact with US Special Envoy Witkov, an AXIOS reporter quoted US officials as saying that Araghchi was lying.South Koreas Ministry of Foreign Affairs: U.S. Secretary of State Marco Rubio stated that cooperation among countries is more important than ever for the global economy and for stabilizing oil prices.On March 17th, US President Trump told reporters at the White House on the afternoon of March 16th (Eastern Time) that "the pipelines on Irans Kharg Island will eventually break down"—hinting at a possible US military attack on the oil infrastructure on this crucial island for Iranian oil exports. Earlier, an Iranian armed forces spokesperson warned that if the US were to launch any aggression or attack on Kharg Island and its oil facilities, Irans response would be decisive and forceful—in which case, the oil and gas facilities of any country that launches an attack on Kharg Island would become strong targets for Iranian strikes.March 17th - Iranian Foreign Minister Araqchi stated: "My last contact with US Special Envoy Witkov was before the US decided to end diplomatic efforts by launching another illegal military attack on Iran. Any claim to the contrary seems merely to mislead oil traders and the public." Previously, US media, citing US officials and sources, reported that direct communication channels between Witkov and Araqchi had recently been reopened.Market news: Amazon (AMZN.O) issued €14.7 billion in euro-denominated bonds.

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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