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Israeli Defense Minister Katz warned the Lebanese government that it must disarm Hezbollah or it would "pay an extremely heavy price."On March 7, Xi Jinping, General Secretary of the CPC Central Committee, President of the Peoples Republic of China, and Chairman of the Central Military Commission, emphasized at a plenary meeting of the delegation of the Peoples Liberation Army and the Armed Police Force to the Fourth Session of the 14th National Peoples Congress that in order to achieve the centenary goal of the Peoples Liberation Army and advance the modernization of national defense and the armed forces on schedule during the 15th Five-Year Plan period, it is essential to uphold, utilize, and develop the important magic weapon of building the military politically, unswervingly uphold and strengthen the Partys absolute leadership over the military, give full play to the unique advantages of building the military politically, and concentrate efforts to promote the steady and long-term modernization of national defense and the armed forces.On March 7, Pan Gongsheng, Governor of the Peoples Bank of China, responded to a question about whether a liquidity support mechanism for non-bank institutions would be introduced at the Zhejiang delegations residence, stating that it was "under study."According to the Islamic Republic of Iran Broadcasting (IRIB): Iran launched a new wave of missiles at US and Israeli targets.On March 7, Iraqi Border Force Commander Mohammed Sakhr issued a statement saying that Iraqs borders with all its neighbors are "secure and reliable, under strict security control," and he denied any infiltration or border crossing activities currently taking place in the countrys border regions. Sakhr reiterated that reports of Iraqi personnel infiltrating the Iranian border are untrue. The Iraqi border force commander maintains continuous coordination and communication with Iranian counterparts.

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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