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On March 8th, the Russian Ministry of Defense reported on the 7th that the Russian military, using land-based, air-based, and sea-based long-range high-precision weapons and attack drones, conducted a large-scale strike against Ukrainian military-industrial complexes, energy infrastructure serving the needs of the Ukrainian military, and military airfields. The Russian military also struck 149 areas, including Ukrainian military transportation infrastructure and temporary deployment points for Ukrainian troops and foreign mercenaries, with air defense systems shooting down 200 fixed-wing drones. The General Staff of the Ukrainian Armed Forces reported on the 7th that 148 battles occurred in the front-line areas in the past day. The Ukrainian military is thwarting Russian attempts to advance deeper into Ukraine and has inflicted significant manpower and equipment losses on Russian forces in multiple locations. The Ukrainian Air Force, missile units, and artillery attacked Russian personnel concentration areas, drone control points, artillery systems, and other targets, shooting down more than 1,800 Russian drones.March 8th - The Press Center of the Fourth Session of the 14th National Peoples Congress (NPC) issued a notice stating that the second "Ministerial Corridor" press conference of the Fourth Session of the 14th NPC will be held in the North Hall of the Great Hall of the People on the morning of March 9th, 2026, following the second plenary meeting. Principal officials from relevant departments of the State Council attending the meeting will be invited to give interviews. Domestic and foreign journalists are welcome to participate with their press credentials issued by the NPC.March 8th - At 10:00 AM, the Fourth Session of the 14th National Peoples Congress (NPC) held a press conference, inviting Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, to answer questions from Chinese and foreign journalists on issues related to "Chinas Foreign Policy and External Relations." The Fourth Session of the 14th NPC held group meetings throughout the day, reviewing the draft Ecological and Environmental Law in the morning and the draft Law on Promoting Ethnic Unity and Progress and the draft Law on National Development Planning in the afternoon. The Fourth Session of the 14th National Committee of the Chinese Peoples Political Consultative Conference (CPPCC) held group meetings in the morning to discuss the draft Ecological and Environmental Law, the draft Law on Promoting Ethnic Unity and Progress, and the draft Law on National Development Planning; the third plenary meeting was held in the afternoon, where members delivered speeches.Saudi Ministry of Defense: Saudi Arabia thwarted a drone attack targeting the diplomatic district of Riyadh; no injuries were reported.Kuwaiti Army: Responding to a drone attack, shrapnel caused some damage to civilian buildings.

AUDJPY tends to trade towards 94.00 prior to the publication of RBA policy minutes

Daniel Rogers

Nov 11, 2022 17:53

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After breaking the immediate barrier of 93.50 during the Tokyo trading session, the AUDJPY pair has maintained its upward movement. As volatility has dropped in parallel with the S&P 500's amazing return, the risk barometer is approaching the round-level threshold of 94.00. In addition, rates on U.S. Treasury securities have collapsed following a significant decrease in inflation figures.

 

After sustaining a negative trend over the previous two trading days, there was fresh interest in the cross near 93.00. Investors are focusing on the monetary policy meeting minutes of the Reserve Bank of Australia (RBA).

 

The RBA minutes will provide a comprehensive explanation for the announcement of a 25 basis point (bps) hike in interest rates, despite an extraordinary rise in inflationary pressures. Australia's third-quarter inflation rate jumped to 7.3%, exceeding predictions of 7.0% and the prior announcement of 6.1%.

 

RBA Governor Philip Lowe was anticipated to boost the Official Cash Rate by 50 basis points (OCR). By proposing moderate rate rises, the RBA seems to intend to capitalize on its frequent monetary policy meetings.

 

Masato Kanda, Japan's top currency diplomat, emphasized that officials regularly monitor foreign exchange market fluctuations with a sense of urgency and will respond fast if necessary. According to Reuters, authorities remain willing to take action.

 

Tuesday's release of the Gross Domestic Product (GDP) data is anticipated by investors as a major economic indicator. On a quarterly basis, it is projected that the economic statistics will be 0.3% lower than the previous report of 0.9%, while the annualized figure may decline from 3.5% to 1.1%.


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