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May 1 (Reuters) - Ukrainian Ambassador to Japan Yuri Lutov stated that Japans easing of arms export restrictions creates an opportunity for future dialogue between the two countries regarding Japanese military equipment exports to Ukraine. In an interview with the media at the Ukrainian Embassy in Japan, Lutov said that the "Indo-Pacific region is inseparable from the European continent" and that "if Ukraine falls," it will have a "domino effect." He added that Japans move provides an "opportunity for dialogue," and Ukraine could receive funding from Japan to develop air defense systems, thereby reducing its dependence on US-made Patriot missiles.French Prime Minister: The countrys cybersecurity services will conduct attack scenario drills on the system. They will anticipate crisis scenarios, including digital blackouts, to prepare for the worst-case scenario.French Prime Minister: We must strengthen the protection of our systems to deal with the surge in cyberattacks.Switzerlands March retail sales annual rate will be released in ten minutes.On May 1st, analysts at RBC Capital Markets wrote in a report that sporting goods companies appear more vulnerable to high oil prices compared to other apparel and fashion companies. Sportswear has a relatively high reliance on oil in its raw material costs, higher freight costs, and lower profit margins than luxury fashion brands. The bank stated that this could have a "very negative" impact on the financial performance of sporting goods groups such as Nike, Adidas, and Puma.

Prior to the release of Australian employment data, the AUD/JPY pair attempts to regain 89.00

Alina Haynes

Apr 12, 2023 13:44

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The AUD/JPY pair attempts to reclaim the critical resistance level of 89.00 during the Asian session. Kazuo Ueda, the governor of the Bank of Japan (BoJ), has advocated for an extension of the already decade-long ultra-loose monetary policy in order to consistently achieve an inflation rate above 2%.

 

The decelerating Producer Price Index (PPI) contradicts the optimistic outlook of the Japanese government regarding wage growth. As expected by market participants, the March PPI did not change. The annual PPI came in at 7.2%, which was higher than the consensus estimate of 7.1% but lower than the previous release of 8.1%. The inability of companies to sustain accelerating production rates at factory gates is indicative of weak household demand.

 

Analysts at Commerzbank anticipate that the Japanese Yen will only appreciate over the long term if the current monetary policy is abandoned quickly.

 

Regarding the Bank of Japan's (BoJ) Yield Curve Control (YCC), the IMF has stated that allowing more flexibility in YCC could have repercussions for global markets, but it could also prevent future policy shifts that could result in significant spillovers.

 

Investors are awaiting the March Employment Report for fresh impetus in the Australian Dollar. The market expects the Australian economy to add 20,000 employment, which is less than the previous estimate of 64.6K. While the Unemployment Rate is expected to rise to 3.6% from 3.5% in February, it is anticipated that the Unemployment Rate will increase to 3.6%.

 

Governor Philip Lowe of the Reserve Bank of Australia (RBA) has left the door open for additional rate hikes if Australian inflation persists, so the publication of stronger-than-expected employment gains could reignite fears of additional rate hikes.

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