According to recent reports, North Korea has not answered a daily hotline call from South Korea for the fifth consecutive day. The hotline is typically used to maintain communication and reduce tensions between the two countries, which are technically still at war. The lack of response from North Korea comes amid concerns over the country's nuclear weapons program and recent missile tests, as well as the potential for further geopolitical tensions in the region. Traders will continue to monitor developments in the Korean peninsula and the potential impact on financial markets, particularly for currencies such as the South Korean won and the Japanese yen, which are often seen as safe-haven assets in times of geopolitical uncertainty.
According to recent data from the National Australia Bank (NAB), business confidence in Australia for the month of March declined to a reading of 10, down from the previous reading of 40. Similarly, business conditions fell slightly from a reading of 17 in February to 16 in March. The data suggests that Australian businesses are becoming slightly less optimistic about the economic outlook, possibly due to concerns over rising inflation and supply chain disruptions, as well as the potential for further lockdowns and travel restrictions in response to the COVID-19 pandemic. The decline in business confidence and conditions could have implications for the Australian economy and financial markets, as businesses may be less likely to invest or hire in the current environment. Traders will continue to monitor economic data releases and political developments in Australia to determine the potential impact on financial markets and the value of the Australian dollar.
According to recent reports in Japanese media, billionaire investor Warren Buffett is considering boosting his stakes in Japanese stocks, particularly in the financial sector. The reports suggest that Buffett's investment firm, Berkshire Hathaway, is looking to take advantage of the recent sell-off in Japanese markets and increase its exposure to Japanese equities. Buffett has been a long-time investor in Japan, and has previously praised the country's economic and political stability, as well as its corporate governance standards. The reports come amid ongoing concerns over rising global inflation and potential monetary policy tightening, which could have implications for financial markets and the value of currencies such as the Japanese yen. Traders will continue to monitor developments in Japan and the potential impact on financial markets and the value of the yen.
Conclusion AUD/JPY @ 88.95 closed @ 88.819