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February 4th, Futures News: Economies.com analysts latest view: In recent intraday trading, WTI crude oil futures prices continued to rise, testing the resistance level near $63.50 and utilizing trading opportunities above the EMA50. The EMA50 represents key dynamic support, reinforcing the stability and dominance of the main short-term uptrend. Currently, oil prices are trading along the support line of this trendline, indicating strong upward momentum. Positive signals from the Relative Strength Index (RSI) support this bullish performance, confirming the improved momentum and paving the way for a breakout of this resistance level. If the breakout is successful, we will see additional gains in the short term.February 4th - According to sources, Indian financial regulators are considering a major overhaul of their banking oversight approach, shifting from the traditional "compliance check-in" model to a deeper analysis of banks business models. The sources indicated that the Reserve Bank of India (RBI) plans to conduct in-depth investigations into banks operational methods, rather than analyzing financial ratios in isolation during each inspection. It was also revealed that the regulator is seeking to increase staffing within its regulatory department, with a focus on recruiting cybersecurity experts, as cybersecurity has become a core concern due to the surge in digital risks within the banking system. The reform proposal is still under review and details may be adjusted. This shift comes against the backdrop of the unprecedented expansion of the Indian banking sector, placing immense pressure on regulatory tools designed for a simpler era. The governance failures at Societe Generale and the now-defunct New Cooperative Bank of India highlight how traditional, outdated regulatory approaches—relying on financial snapshots—can overlook vulnerabilities masked by healthy data.On February 4th, Duan Yongping, founder of BBK Electronics and a well-known investor, posted on his Xueqiu account "Da Dao Wu Xing Wo You Xing" that "FSD is indeed very useful, and the Model Y is not uncomfortable to drive. Now driving a Tesla is my first choice."February 4th - At 10:00 AM today (February 4th), the State Council Information Office held a press conference. Han Wenxiu, Director of the Central Rural Work Leading Group Office, stated that in accordance with the arrangements of the Party Central Committee, the second round of extended contracting pilot programs is progressing in an orderly manner and gradually being rolled out. This year, province-wide pilot programs will be fully implemented in 29 provinces (autonomous regions and municipalities) except for Guizhou and Tibet. This work is highly political, policy-oriented, and involves the masses. It is crucial to accurately grasp the policy tone, and the general principle is "major stability with minor adjustments."Hong Kong-listed airline stocks rose amid volatility, with China Eastern Airlines (00670.HK) up over 7% and China Southern Airlines (01055.HK) up over 6%. Air China (00753.HK) and Cathay Pacific (00293.HK) also saw gains.

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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