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Real-time News
On August 24th, U.S. House Speaker Boris Johnson told Fox News that he expects the war with Iran to enter a "new phase." In an interview with Fox News on Sunday, Johnson said, "I think were about to enter a new phase. I believe our allies will assist in the next phase, and we will get this over with." He claimed that President Trump successfully prevented Iran from acquiring nuclear weapons, a goal "common to successive administrations." Johnson stated, "Everyone knows we cut the snakes head (eliminated the core leadership), and you cant trust the Iranians across the negotiating table, and thats the challenge."On August 24th, Michael Burry, the real-life inspiration for the film "The Big Short," revealed that Alibaba (BABA.N) is overvalued and he recently sold all his holdings to buy JD.com (JD.O). He originally planned to sell back most of his Alibaba shares in a month or two, but plans have changed; he will not be interested again unless Alibabas share price drops by half. Regarding Alibabas recent announcement of a share placement to raise approximately HK$80 billion for artificial intelligence investment, Burry admitted he could not support the placement.According to the Syrian state news agency, Syria stated that its top priority is for Israeli troops to withdraw to the border line prior to December 8, 2024, and to fully implement the 1974 Disengagement Agreement between Syria and Israel.According to the Syrian state news agency, Syria reiterated that the Golan Heights are occupied Syrian territory and that it is too early to discuss their final status.On August 24, a large wildfire rapidly approached Reno, Nevada, a city bordering California, on August 23. Local fire departments confirmed that the raging fire had injured six people and forced the evacuation of approximately 42,000 residents, with another 45,000 in evacuation warning zones.

Forex

Volatility subsides around 101.80 as focus shifts to US S&P PMI in US Dollar Index Price Analysis

The US Dollar Index is in the green in advance of provisional US S&P PMI data. Thursday's market behavior was erratic after the publication of the eleventh consecutive report of higher-than-anticipated unemployment claims. The Fed's decision to increase interest rates has led to persistently deteriorating labor market conditions.