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On March 8th, local time, Iranian Islamic Revolutionary Guard Corps spokesman Naini stated that Iran has stockpiled a large-scale arsenal of weapons, including heavy missiles, ballistic missiles, cruise missiles, various types of drones, and attack vessels, sufficient to cope with a broad and protracted war, and there is no need to worry. Naini claimed that the Iranian armed forces have the capability to sustain a high-intensity war for at least six months at the current pace. The missiles currently in use are mainly first- and second-generation models. In the coming days, Iran will employ new attack methods, using advanced missiles with longer ranges and fewer deployments, which will pose a heavier and more targeted threat to adversaries.Israeli military: We have detected Iran launching a new type of missile.On March 8th, Wang Yi stated that President Xi Jinpings proposal to build a community with a shared future for mankind demonstrates the vision and broad-mindedness of a leader of a major power, answering the question of our time: where is humanity headed? It aims to tell the world that humanitys enemies are not each other, but war, poverty, hunger, and injustice. Overcoming these challenges cannot be achieved through individual efforts or by remaining isolated; it requires unity, cooperation, and global solidarity. Isolation leads to helplessness, while unity brings strength. People around the world are increasingly recognizing the contemporary value and power of the concept of a community with a shared future for mankind, which acts like a lighthouse illuminating humanitys path forward.On March 8, Wang Yi, in response to a question about building a community with a shared future for mankind, said that the Chinese people have always had a vision of a world where all under heaven are interconnected and pursue a world of great harmony. The great rejuvenation of the Chinese nation and the rise of a great power with 1.4 billion people will never replicate the old path of great power rivalry and expansion. Instead, we will unswervingly follow the path of peaceful development and promote all countries to jointly pursue peaceful development, building a world of lasting peace, universal security, common prosperity, openness and inclusiveness, and a clean and beautiful environment.On March 8th, Wang Yi stated that Taiwan has been Chinese territory since ancient times, and it has never been, is, or will ever become a "country." Taiwans return to China was a result of the Chinese peoples victory in the War of Resistance Against Japan and also a fruit of victory in World War II. A series of international legal documents, including the Cairo Declaration, the Potsdam Declaration, the Japanese Instrument of Surrender, and UN General Assembly Resolution 2758, have firmly established Taiwans status. Any attempt to create "two Chinas" or "one China, one Taiwan" internationally is doomed to failure.

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.