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On August 30th, Finnish President Alexander Stubb stated on Saturday that he does not believe Russia will attack NATO, "the worlds most powerful military alliance." However, in an interview with the German newspaper Bild, he said NATO should "prepare for the worst to prevent it from happening." Stubb pointed out that Russia has lost more soldiers than it recruited and judged that Russia may mobilize more troops in the fall, although this move would have "domestic political implications." He said Moscow is in an "increasingly complex situation," but emphasized that Russia will not end the conflict due to an economic downturn. He stated, "Never underestimate how much economic hardship the Russians can withstand."On August 30th, Yonhap News Agency reported that US President Trumps financial disclosures revealed he traded shares of e-commerce giant Coupang Inc. twice in June through a fund manager. Meanwhile, tensions between the US and South Korea continue to escalate over South Koreas regulatory handling of the massive data breach at the US-listed e-commerce giant. In July, the US House Judiciary Committee released a temporary staff report accusing the South Korean government of carrying out a "discriminatory attack" against Coupang and all other US companies, stating that Coupang has been a "consistently targeted entity."On August 30, Iraqi Prime Ministers Security Advisor Qassem Araji stated in a recent interview with Al Jazeera that Iraq maintains "good relations" with both Iran and the United States and seeks to act as a "bridge" for communication among all parties to reach an agreement that safeguards the interests of the entire region. He added that Iran has emphasized the necessity of eliminating extremist groups within Iraq.On August 30th, SK Hynix CEO Guo Luzheng stated that the company remains open to further investment in the US semiconductor industry, while predicting that the global memory chip shortage will continue until the end of 2030. "We are always open to more investment, but no decisions have been made yet," Guo Luzheng said. He stated that SK Hynix is searching globally for potential sites that can meet its R&D and testing needs, noting that electricity, water resources, and government incentives are key considerations. Guo Luzheng said, "We are open to any location that can provide sufficient infrastructure and resources." He also expressed hope that the company will bring "more good news" to the US artificial intelligence industry in the future.Iraqi Prime Ministers Security Advisor Qassem Araj: Iraq seeks to become a "bridge" between Iran and the United States.

As Australia's retail sales continue to climb, the AUD/NZD pair has remained steady over 1.1400

Alina Haynes

Sep 28, 2022 14:53

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Australia's Retail Sales on Wednesday morning favored buyers, keeping the AUD/NZD high at 1.1430. By doing so, the cross-currency pair is ignoring bad news out of China and recession worries, and is instead pushing toward Monday's nine-year high.

 

The Australian currency (AUD) appreciated as a result of the 0.6% month-over-month increase in retail sales in Australia, which beat both the 0.4% forecast and the 1.2% increase seen in the previous month (RBA).

 

The latest statements made by Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr and New Zealand's Finance Minister (FinMin) Grant Robertson on Tuesday also supported AUD/NZD buyers.

 

RBNZ governor Orr said the central bank still had some work to do, but that the tightening cycle was reasonably far along. Following in his footsteps are "As of right now, the worldwide economy is a tough place to be. The crisis in Ukraine and other issues in Europe and China are obvious examples." During an interview with New Zealand's government-run TVNZ, Grant Robertson, the country's finance minister, reportedly made the following remarks, as reported by Reuters.

 

The AUD/NZD bulls appear to be facing the strongest pressure from apprehensions about the European energy crisis and China's zero-covid policy. The World Bank's (WB) gloomy economic forecasts for China and allegations that the dragon nation invited important market players to safeguard stocks revealed cracks in the economy of Australia's biggest customer.