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On December 30, Iranian President Peskov responded to recent threats from the United States and Israel on social media, stating that "the Islamic Republic of Irans response to any brutal aggression will be severe and regrettable." US President Trump met with visiting Israeli Prime Minister Netanyahu at Mar-a-Lago in Florida on December 29. He threatened that if Iran attempts to rebuild its ballistic missile program, the US will support Israel in launching another attack on Iran.Gold and silver prices rose, and U.S. mining stocks generally rose in pre-market trading. Pan American Silver (PAAS.O) rose 3.8%, Gold Fields (GFI.N) rose 3.7%, Harmony Gold (HMY.N) rose 3.6%, Cordell Minerals (CDE.N) rose 3.3%, and Newmont Mining (NEM.N) rose 2.6%.On December 30th, at the 10th anniversary celebration of Zhuoyu (formerly DJI Automotive), official images released by Zhuoyu showed that among its partnered models, there are "50+ mass-produced models and 30+ models about to enter mass production," including the U8 and U9 from BYDs high-end brand, Yangwang. However, sources close to BYD indicated that Yangwangs autonomous driving solution provider is Momenta, not Zhuoyu. It is understood that the official price of the Yangwang U8 and U9 exceeds one million yuan, targeting the high-end new energy vehicle market.On December 30th, Cao Cao Mobility (02643.HK) announced that its consolidated affiliated entity, Hangzhou Youxing, entered into an equity acquisition agreement with Zhejiang Jidi and an equity acquisition agreement with Mercedes-Benz Mobility and Geely Holding. According to these agreements, Hangzhou Youxing agreed to acquire 50% equity interests in Weixing Technology from both Zhejiang Jidi and Mercedes-Benz Mobility for a total cash consideration of RMB225 million. Upon completion of the acquisitions, Weixing Technology will become a wholly-owned subsidiary of Hangzhou Youxing.On December 30th, the National Medical Products Administration (NMPA) held a meeting in Beijing to advance the pilot program for deepening medical device vigilance. The meeting heard reports from the first batch of pilot provinces and discussed specific measures to further deepen the pilot program. Xu Jinghe, member of the Party Leadership Group and Deputy Director of the NMPA, attended and addressed the meeting. The meeting emphasized the need to thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and its subsequent plenary sessions, deeply understanding the significance of deepening the pilot program for medical device vigilance; to clarify the responsibilities of all parties, implement pilot tasks, and strengthen the construction of systems and operational mechanisms; to improve platforms and systems, promote the "one body, two wings" construction, and enhance vigilance capabilities; and to fully utilize technologies such as AI to strengthen technological empowerment, quickly identify risk signals, and effectively handle risks.

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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