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Bank of England: Given limited demand, we will not make any changes to the evening CHAPS (Automatic Payment Clearing System) contingency window.Bank of England: Work on other extended phases, including bank holiday settlements and a broader roadmap toward closer 24x7 settlements, will continue.The Bank of England announced that it will extend the hours of the CHAPS (Automatic Payment Clearing System) settlement service, changing the start time from 06:00 to 01:30.On February 24th, DJI officially filed an appeal with the U.S. Ninth Circuit Court of Appeals, challenging the Federal Communications Commissions (FCC) improper decision on December 23, 2025, to place DJI and its products on the "Controlled List." DJI stated today (February 24th) that this move aims to protect DJIs legitimate rights and interests, as well as the interests of American consumers and agricultural users who rely on DJI products but are affected by the ban. In its complaint, DJI stated that the FCCs decision has serious procedural and substantive flaws. The FCC placed DJI on the "Controlled List" without providing any substantial evidence that DJI products pose a threat to U.S. national security, which not only violates due process principles but also potentially violates the U.S. Constitution and relevant federal laws.On February 24th, the British Foreign Office issued a statement imposing sanctions on 175 entities within the "2Rivers" network on the fourth anniversary of the outbreak of the Russia-Ukraine conflict. The action also targets Transneft, one of the worlds largest oil pipeline companies, which the UK claims handles over 80% of Russias oil exports. The British Foreign Secretary stated that the UKs decisive action today cuts off key funding, military equipment, and revenue sources supporting Russias aggression, representing the largest sanctions measure since the early stages of the Russia-Ukraine conflict. The "2Rivers" network, linked to Azerbaijani traders Aitibar Eyub and Tahir Garayev, continued to transport hundreds of millions of barrels of Russian crude oil despite international sanctions imposed due to the conflict. This offshore network, formerly known as "Coral," expanded rapidly before EU and UK sanctions weakened its operations in 2024. At the time, Garayevs lawyer denied any connection to Transneft or Eyub, stating that he had not been involved in any oil-related business since the end of 2022.

Before the PBoC's monetary policy announcement, AUD/JPY recovers strongly from 92.00

Alina Haynes

Feb 20, 2023 11:14

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Despite a difficult start to the Tokyo session at 92.10, the AUD/JPY pair has gained momentum. The risk barometer has recovered to approximately 92.30 and is expected to continue its upward trend in the near future. Ambassador Linda Thomas-Greenfield, the US representative to the United Nations, declared on Sunday that China would cross a "red line" if it sent lethal military help to Russia in response to its invasion of Ukraine.

 

According to Reuters, recent news from public broadcaster NHK that Japan's Coast Guard said North Korea fired three projectiles that may have been ballistic missiles has compounded the already negative market sentiment.

 

When the United States conducted bilateral air exercises with South Korea and Japan in response to the North's ICBM launch on Sunday, Kim Yo Jong, the sister of North Korean leader Kim, warned against the escalating deployment of U.S. strategic weapons on the Korean peninsula.

 

Investors await the People's Bank of China's interest rate announcement for additional guidance (PBoC). Eight out of 10 economists, according to a Reuters poll published on February 17, believe that the PBoC would retain the Loan Prime Rate (LPR) at 3.65%. After the abolition of currency restrictions, China is required to maintain an expansionary monetary policy to stimulate economic growth.

 

Bloomberg stated that Goldman Sachs predicts the MSCI China Index could reach 85 by the end of 2023, a nearly 24% increase from current levels, as the nation's economic opening generates windfall advantages for corporations.

 

Notably, Australia is a major trading partner of China, and the increased economic activity in China will benefit the Australian Dollar.

 

On Tuesday, preliminary Jibun Bank PMI (Feb) data will be released, which will have a substantial impact on the Japanese Yen. The Manufacturing PMI is expected to remain constant at 48.9, whilst the Services PMI is expected to increase from 51.1 to 51.5.

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