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U.S. Secretary of State Marco Rubio: The United States supports the courageous Iranian people.On January 10th, a research report from Founder Securities stated that the December non-farm payroll data was mixed, with the US job market generally showing a mild downward trend, but the unemployment rate showed marginal improvement, giving the Federal Reserve more reason to wait and see in January. Combined with the Supreme Courts potential declaration that the IEEPA tariffs are unconstitutional, this may be a short-term positive for US stocks and the US dollar, but a negative for US Treasuries. Data on new jobs, job openings, and hourly wage growth indicate that the US job market remained relatively weak in December, but the marginal decline in the unemployment rate was one of the few bright spots. Looking at interest rate futures and US Treasuries, the market priced in a no-rate-cut by the Fed in January, with a possible rate cut as early as June. Meanwhile, the Supreme Courts potential declaration that the IEEPA tariffs are unconstitutional means that economic expectations may improve marginally, inflationary pressures may weaken, but the fiscal deficit may worsen. With the Fed in no hurry to cut rates and tariffs easing, US Treasuries face many unfavorable factors in the short term and are likely to remain at high levels. US stocks will benefit from the AI boom and reduced tariff disruptions, especially in sectors affected by tariffs such as consumer staples and industry, which are more resilient.January 10 - According to the UN Security Council schedule, the Security Council will hold an emergency meeting on the situation in Ukraine on January 12.On January 10th, Xiaomi Auto released a statement in response to netizens questions, stating that the new generation SU7 will be equipped with the Xiaomi Super Motor V6s Plus across the entire series. In addition to the motor being jointly supplied by United Electric and Inovance Technology, Xiaomi will also introduce its own self-developed and self-produced V6s Plus Super Motor in the future to further improve production efficiency and shorten delivery cycles.On January 10th, Chen Jianye, Secretary of the Party Leadership Group and Director of the Fujian Provincial Department of Industry and Information Technology, stated that the next step will be to accelerate the digital transformation of the manufacturing industry, enhance its green foundation, and promote the transformation of industries towards "new" and "green." This includes: Deepening the implementation of the "Nine Major Actions" for comprehensive digital empowerment of industrial manufacturing; adhering to the principle of enterprise-led development, strengthening government guidance, and leveraging the role of service providers to create more transformation benchmarks, promote chain-based transformation and overall transformation, and accelerate the large-scale application of digital technologies in the manufacturing industry; Deepening and expanding "Artificial Intelligence +"; making good use of the new round of incremental policies for artificial intelligence, supporting the cultivation of industry-specific models and intelligent agents, accelerating industry adaptation and scenario expansion, and promoting the empowerment of various industries by artificial intelligence; guiding the differentiated and characteristic development of the Fuzhou-Xiamen-Quanzhou provincial-level artificial intelligence industrial parks; and carrying out in-depth energy conservation and carbon reduction special actions; closely monitoring national carbon assessment requirements, and implementing energy conservation reviews and carbon emission assessments for "high energy consumption and high pollution" projects in the industrial sector; building Fujians green advantages in manufacturing, cultivating more national and provincial-level green parks and enterprises, and promoting the construction of a number of zero-carbon parks and factories.

AUD/NZD falls 60 pips as RBNZ meets market expectations for a 50 bps rate hike

Alina Haynes

Feb 22, 2023 15:18

As the Reserve Bank of New Zealand (RBNZ) issued its much awaited interest rate decision early Wednesday morning in Europe, the AUD/NZD pair dropped almost 60 pips to 1.0980. In doing so, the cross-currency pair disregards geopolitical concerns regarding China and North Korea, as well as concerns of a less aggressive RBNZ response in the wake of natural disasters in New Zealand.

 

In spite of this, the RBNZ announced its eleventh rate hike as officials attempt to control inflation fears, increasing the benchmark rate by 0.50 percentage points to 4.75 percent, for a total increase of 1.50 percentage points. In the quarterly Rate Announcement that followed the RBNZ's decision, it was said, "There are early signs of pricing pressures abating." The same should apply to the AUD/NZD currency pair bearish.

 

Other from this, the most notable market sentiment detractors were the remarks of US Secretary of State Antony Blinken and Russian President Vladimir Putin. Notwithstanding this, US Secretary of State Blinken indicated that the United States fears China may provide military help to Russia. Similarities exist between the market issues of the U.S.-Taiwan trade agreement. Russia terminated its nuclear arms agreement with the United States and pledged to maintain its military presence in Ukraine.

 

Meanwhile on Tuesday, Russian President Vladimir Putin addressed both houses of parliament in his state of the nation address to the Russian Federal Assembly. During the speech, Russian President Putin emphasized the geopolitical turmoil surrounding Ukraine by stating, "Our mission is to drive our economy to new horizons." Similarly, US Deputy Treasury Secretary Wally Adeyemo indicated on Tuesday, "The United States and its partners will apply additional sanctions this week to continue isolating Russia over the conflict in Ukraine."

 

US 10-year and 2-year Treasury note rates fluctuate near the three-month highs achieved the day before, while S&P 500 Futures record moderate gains despite Wall Street's negative closing price.

 

After monitoring the first reaction to the RBNZ's announcement, AUD/NZD pair traders should focus on risk triggers, particularly those pertaining to China and Russia, to determine the pair's direction. If geopolitical concerns continue to threaten market optimism, the price may continue to decrease.



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