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Japans corporate services price index rose 1.2% month-on-month in March, compared with 0.2% in the previous month.Japans corporate services price index rose 3.1% year-on-year in March, below the expected 3.00% and the previous reading of 2.70%.April 24th - Data released on Friday showed that Japans core consumer price index (CPI) slowed for the second consecutive month to below the central banks 2% target in March, as government fuel subsidies offset price pressures from the energy shock triggered by the conflict in Iran. Analysts expect inflation to accelerate back above the Bank of Japans target in the coming months as businesses begin to pass on rising fuel costs from the Middle East conflict. The core CPI, excluding the impact of volatile fresh food costs, rose 1.8% year-on-year in March, in line with the market median forecast. This followed a 1.6% increase in February. Another index, excluding fresh food and fuel (a better indicator closely monitored by the Bank of Japan as a measure of demand-driven price changes), rose 2.4% year-on-year in March, compared to a 2.5% increase in February.On April 24th, according to foreign media reports, most soybean oil futures contracts on the Chicago Board of Trade (CBOT) closed higher on Thursday, with only the May contract slightly lower. The benchmark contract closed up 0.1% on the day, mainly reflecting the surge in international crude oil prices and improved US soybean oil sales. Tensions in the Middle East further boosted international crude oil futures, which lifted sentiment in the Chicago soybean oil market. The US Department of Agricultures weekly export sales report showed that for the week ending April 16, 2026, net sales of US soybean oil for the 2025/26 marketing year totaled 1,500 tons, a 34% increase from the previous week and significantly higher than the four-week average.On April 24, the Russian Ministry of Defense reported on the 23rd that Russian forces struck energy and transportation infrastructure used by Ukrainian forces, as well as temporary deployment points of Ukrainian armed forces and foreign mercenaries, in 138 areas over the past day. Russian air defense systems shot down 10 guided-missile bombs and 418 fixed-wing drones. On the same day, the General Staff of the Ukrainian Armed Forces reported that the Ukrainian Air Force, missile forces, and artillery launched strikes against multiple Russian personnel and equipment concentration areas and command posts, shooting down 1,941 drones. On the 23rd, a source from the Ukrainian Security Service stated that Ukrainian drones attacked the Gorky oil pumping station in Nizhny Novgorod Oblast, Russia, causing a fire.

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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