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The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 6.4 occurred near the Sulawesi Sea at 12:14 on August 5th. The final result is subject to the official rapid report.JPMorgan Chase lowered its price target for McDonalds (MCD.N) from $305 to $280.Futures News, August 5th: Aluminum prices have recently fluctuated upwards. According to Fubao Information monitoring, as of August 4th, the spot aluminum price was 23,720 yuan/ton, up 0.94% month-on-month and 15.82% year-on-year. Key influencing factors: 1. The ongoing situation in the Middle East is concerning, raising concerns about its impact on the inflation path. While the supply and demand balance of aluminum itself has not been significantly disrupted, geopolitical uncertainties and reduced domestic and international inventories provide some support for aluminum prices. Following the Feds unchanged interest rate and Warshs slightly neutral stance, the market anticipates a rate hike in the fourth quarter, continuing to monitor the inflation process, which has eased some upward pressure on commodities. 2. Fundamentals remain relatively stable. Aluminum smelter operating rates are steadily increasing, the industrys aluminum-to-water ratio is high, downstream and end-user demand is resilient, and there are no obvious off-season characteristics. Aluminum ingot social inventories continue to decline, but the decline has slowed after the price increase. It is expected that aluminum prices will fluctuate between 23,500-24,000 yuan/ton in the short term.A Russian nighttime attack on the Kyiv region of Ukraine has killed 14 people and injured 27.JPMorgan Chase raised its price target for AMD (AMD.O) from $385 to $550.

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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