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The Reserve Bank of New Zealand will announce its interest rate decision in ten minutes.The Philippine peso rose to 59.543 pesos to the US dollar, a new high since March 23.April 8th - Today, the full text of the "Outline of the 15th Five-Year Plan for National Economic and Social Development of Beijing" was released. The outline sets an average annual economic growth target of 4.5% to 5% for Beijing from 2026 to 2030, striving for even better results. This means that Beijings economic growth over these five years will exceed one trillion yuan. According to the Beijing Municipal Development and Reform Commission, the outline aims to achieve the goal of basically realizing socialist modernization by 2035, accurately grasping the stage-specific characteristics of the "15th Five-Year Plan" period, such as the technological revolution and industrial transformation, and changes in population structure. It sets 29 major indicators, all of which have been scientifically calculated and comprehensively balanced, guiding the implementation of key tasks in the outline year by year.As of 09:30 Beijing time, WTI crude oil futures fell 13.93% and US natural gas futures fell 3.55%.On April 8, Irans Supreme National Security Council issued a statement saying that, based on the suggestion of Irans Supreme Leader Mojtaba Khamenei and with the approval of the Supreme National Security Council, Iran will hold two weeks of negotiations with the United States in Islamabad, the capital of Pakistan, on April 10. However, Iran expressed "complete distrust" of the United States.

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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