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According to the UAE news agency, Trump discussed cooperation between the UAE and the United States and ways to further strengthen relations in support of common interests.August 18th - Investors have reason to worry about inflation, but this may not be the primary reason for rising bond yields. In fact, inflation expectations, as measured by the breakeven rate, are quite close to the Federal Reserves long-term target of 2%. Capital.com analyst Daniela Hathaway stated, "Investors can be confident that inflation will average around 2%-2.5% in the long run, but this forecast is becoming less certain due to oil, tariffs, fiscal policy, and other supply shocks." She added that the bond sell-off is driven by "persistent inflation risks, massive government borrowing, and increasingly fierce competition for capital, rather than simply a sharp rise in expected inflation itself."International Atomic Energy Agency: No nuclear safety or security damage was reported following the drone explosion.On August 18, Qatari Foreign Ministry Spokesperson Majid Ansari stated that Qatars current diplomatic efforts are primarily focused on de-escalating the crisis and preventing further escalation. The solution lies in achieving a ceasefire between the US and Iran, opening the Strait of Hormuz and guaranteeing freedom of navigation, while simultaneously pushing the US and Iran back to the negotiating table. Ansari noted that Qatar and Pakistan previously mediated a memorandum of understanding between the US and Iran, and Qatar is working to restore dialogue between the two sides and implement the memorandum. However, due to the breach of the ceasefire, the relevant provisions have not been fully implemented. Currently, Qatar is awaiting an agreement between Oman and Iran on the Strait of Hormuz issue, hoping to use this to resume the negotiation process and prevent further escalation. Ansari also stated that the current priority is to reach an agreement that simultaneously ensures the opening of the Strait of Hormuz and a ceasefire. Qatar will continue to push all parties involved to return to negotiations to implement the previously reached memorandum of understanding or to reach an agreement to end the war.The International Atomic Energy Agency (IAEA) reported that the explosion injured or killed 16 employees and contractors, including one fatality and three serious injuries.

AUD/JPY swiftly retraced from 94.80 as Australian inflation increased to 7.3%

Daniel Rogers

Oct 26, 2022 15:36

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In response to better-than-expected Australian Consumer Price Index (CPI) data, the AUD/JPY pair has reversed its quick advance to an intraday high of 94.78, resulting in a selling tail in the Tokyo session.

 

The Australian Bureau of Statistics reported that the headline Consumer Price Index (CPI) for the third quarter of CY2022 was 7.3%, which was higher than the 7.0% expected and the 6.1% previously reported. In addition, the quarterly inflation rate has matched the prior estimate of 1.8% and above predictions of 1.5%.

 

Notable is the fact that the inflation rate has surpassed the RBA's September projection of 7.0 percent. The Reserve Bank of Australia (RBA) will be compelled to resume its previous rate rise streak of 50 basis points (bps), which has increased the likelihood of a further decline in growth forecasts.

 

Governor Philip Lowe trimmed back the rate hike to 25 basis points at the RBA's October monetary policy meeting in order to sustain economic optimism and counteract rising inflationary pressures.

 

In the interim, the cross is still a considerable distance from Monday's knee-jerk reaction of about 95.44. The inactivity of market participants is a result of the potential intervention of the Bank of Japan (BOJ) in the currency markets against disruptive developments impacting the Japanese yen.

 

Friday's announcement of the Bank of Japan's interest rate decision will be the most significant event of the week. In view of the global economic demand shocks, Haruhiko Kuroda, governor of the Bank of Japan, may opt to maintain a loose monetary policy.


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