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On April 22nd, Futures News reported that, according to foreign media, due to rising energy prices caused by global geopolitical instability, the Indonesian government is accelerating the implementation of its mandatory B50 biodiesel blending policy to cope with soaring crude oil prices. The government aims to begin nationwide use of B50 by July 1, 2026. To ensure the smooth implementation of B50, the Ministry of Energy and Mineral Resources is continuing B50 biodiesel fuel trials in all sectors, including the automotive industry, as part of a strategic step towards national energy security and a sustainable energy transition. Eniya Listiani Dewi, Director General of New Energy, Renewable Energy and Energy Conservation (EBTKE), stated that B50 road testing began with laboratory testing in early 2025. As of April 2026, preliminary road test results indicate that using B50 in diesel vehicles is safe, and no major problems have been found. Road tests on vehicles over 3.5 tons have reached the 40,000 km target, while vehicles under 3.5 tons have reached 40,000 km of the 50,000 km target. The engines and fuel filters are in good condition and remain within the manufacturers recommended standards.A chart summarizing the overnight price movements of international spot platinum and palladium.Geopolitical tensions exacerbated price volatility, with lingering concerns about a potential blockade of the Strait of Hormuz, leading to sharp fluctuations in international crude oil prices at high levels. A chart provides a quick overview of pre-market crude oil prices converted between domestic and international markets.According to Futures News on April 22, as of 8:30 AM Beijing time, spot platinum fell 0.03% and spot palladium fell 0.21%.On April 22, Janice Charette, Canadas newly appointed chief trade negotiator for the United States, stated that as the review of the USMCA approaches, she hopes Washington will recognize the "significant" concessions Canada has made and demonstrate some reciprocity. In her first major public address, Charette said, "The Canadian government has taken some concessions that I consider very significant." She cited the elimination of the digital sales tax on U.S. tech giants, the reversal of many retaliatory tariffs imposed by former Prime Minister Justin Trudeau, and changes and investments made to improve border security. She added, "So far, these measures have not been acknowledged by the other side. I think its important that we see some reciprocity in the negotiations."

As the BoJ ponders a YCC expansion, EUR/JPY continues to decline, falling below 142.60

Alina Haynes

Apr 06, 2023 11:52

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After plunging below 142.60 during the Asian trading session, the EUR/JPY pair's three-day losing trend was extended. Renewed rumors of an expansion of the Bank of Japan's (BoJ) Yield Curve Control (YCC) are exerting immense pressure on the cross.

 

The Japanese economy is experiencing gradual wage growth, and inflation is expected to respond to recent increases in crude oil prices. Analysts at Wells Fargo believe the BoJ will take advantage of a tactical opportunity to further modify its policy settings in the fourth quarter of 2022, and are inclined toward a meeting in October. They added that this timeframe is optimal for a smooth policy adjustment, as monetary easing from the Federal Reserve (Fed) and other major central banks should alleviate yield pressure.

 

In particular, the Bank of Japan (BoJ) will raise the target yield for 10-year Japanese government bonds (JGBs) from 0% to 0.25% and increase the tolerance interval surrounding this target to +/- 75 basis points.

 

Accelerating PMIs in the Eurozone provide support for the European Central Bank's sustained rate hikes. (ECB). S&P Global reported a Composite PMI of 53.7 on Wednesday, which was higher than the previous release of 52.0 but below expectations of 54.1, the highest level in the past ten months.

 

According to Reuters, S&P Global issued the following statement: "Manufacturing production increased slightly, but the service sector had the greatest impact on March's accelerated growth."

 

Wednesday, ECB policymaker Boris Vuji stated regarding interest rate forecasts, "The majority of the rate-hiking cycle has passed." He added, "We may require additional rate increases to address core inflation."

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