EUR/USD 1.12377
0.164%
Gold 4168.72
-0.043%
Oil 98.821
2.843%
USD/JPY 157.991
0.009%
GBP/USD 1.33278
0.397%
GBP/JPY 210.572
0.390%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On October 19th, Ukrainian President Volodymyr Zelenskyy accused US President Donald Trump of attempting to pressure Kyiv to surrender to Russia, further escalating the week-long dispute between the two sides. Zelenskyy also proposed a quid pro quo: agreeing to Trumps demand to cease attacks on Russian oil refineries in exchange for more Patriot air defense missiles. He stated, "We dont attack Russian diesel, and you give us Patriot missile systems to protect our facilities. But they only want us to stop attacking diesel. If we do that, they will cut us off in some way." Zelenskyy also listed a series of unfriendly actions by Washington towards Kyiv, including deliberately slowing down the Starlink network speed, which is crucial to the Ukrainian military, and delaying the delivery of already scarce Patriot interceptor missiles. "I think they have taken some steps to persuade Ukraine to surrender," Zelenskyy said. "I dont want to believe that our American partners think that the war against Russia can be ended faster at the expense of Ukraine. But it looks like that."Saudi civil defense officials said the danger alert for Abha has been lifted.Saudi Arabia’s civil defense has issued a warning about potential dangers in Abha.French President Macron: The rise in fuel prices is due to the war with Iran.Market news: Anthropic has pledged to donate 5% of its shares to a charitable foundation and has committed to donating an additional 2% of its shares for every 50% increase in the companys valuation.

AUD/JPY remains around 95.00, and a greater policy difference between the RBA and BOJ is likely

Alina Haynes

Sep 02, 2022 14:46

 截屏2022-09-02 上午10.05.46.png

 

The Australian Dollar/Japanese Yen exchange rate has been volatile during the Tokyo trading session, moving in a slightly wider range of 94.77-95.20. In the meantime, investors have been watching the asset's price closely ahead of next week's monetary policy decision by the Reserve Bank of Australia (RBA). The cross has shown a sideways auction over the previous two trading sessions despite the issuance of a dismal Caixin Manufacturing PMI.

 

Following a downward revision, economic indicators now stand at 49.5, which is lower than both the prior report of 50.4 and the consensus expectation of 50.2. Fears of a recession have been exacerbated by the Chinese government's lockdown restrictions in the face of a rebound in Covid-19 cases.

 

As China's largest trading partner, Australia could feel the effects of China's weak economic performance if the latter continues to struggle.

 

Policy divergence between the Reserve Bank of Australia and the Bank of Japan could widen after next week's RBA interest rate announcement (BOJ). RBA Governor Philip Lowe is expected to announce a fourth consecutive 50 basis point rate hike in light of mounting inflationary pressures in the Australian economy (bps). To account for this possibility, the OCR will go up to 2.35 percent.

 

In the meantime, the weak yen is causing rising import prices in Japan. The private sector faces headwinds from expensive inputs, which significantly impact margins. Positive Retail Trade figures this week did not help the Japanese yen. Compared to the predicted 1.9% and the prior announcement of 1.5%, annual retail sales jumped dramatically to 2.4%.

Suggestion