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April 18 - According to the Wall Street Journal, US officials stated that the US military is preparing to board and seize Iranian-linked oil tankers and merchant ships in international waters in the coming days, expanding its naval operations beyond the Middle East. This plan comes as the Iranian military continues to tighten its control over the Strait of Hormuz, attacking several merchant ships on Saturday and declaring the waterway under "strict Iranian control." These developments have caught shipping companies off guard, just a day after the Iranian Foreign Minister declared the strait fully open to merchant ships, a statement praised by President Trump.Domestic News: 1. Two Chinese citizens tragically died in a car accident in the Russian Far East. 2. The Eastern Theater Command conducted joint combat readiness patrols in relevant sea and air areas of the East China Sea. 3. Rumors circulating online that "new environmental regulations have increased chicken farming costs, leading to higher egg prices" are false. 4. The 27th meeting of the China-Switzerland Joint Economic and Trade Committee was held in Bern, Switzerland. 5. Eight departments, including the Ministry of Public Security, stated that they will maintain a high-pressure stance against tax-related crimes such as issuing false invoices and tax evasion. 6. Seven e-commerce platforms expressed their sincere acceptance of the State Administration for Market Regulations penalties and their determination to fulfill their food safety responsibilities. 7. DeepSeek is reportedly launching its first external financing round? An executive from a large state-owned equity institution stated that the news is likely true, but they are currently unable to invest. International News: 1. The US Department of Energy will release the third batch of strategic petroleum reserves. 2. Progress has been made in a new round of dialogue between the Congolese government and anti-government forces. 3. Iraq stated that oil exports from all its oil fields will resume within days. 4. ECB Governing Council member Demarco stated that the ECB is not in a hurry to act and will receive more information in June. 5. According to the Wall Street Journal: The U.S. Department of Justice informed French law enforcement that it will not assist them in investigating Elon Musks social media platform X. 6. Iran Situation—① Iran: Due to the U.S. "breach of promise," it will control passage through the Strait of Hormuz until the war is completely over. ② Iran stated that it has not yet agreed to hold the next round of negotiations with the U.S. ③ Trump: The U.S. and Iran are in dialogue, and there will be news before the end of today. Iran cannot blackmail us by closing the strait again. ④ In contact with maritime intelligence: The Iranian Revolutionary Guard fired on oil tankers attempting to cross the Strait of Hormuz. ⑤ According to the Wall Street Journal: U.S. officials said that the U.S. military is prepared to board and seize ships linked to Iran in international waters in the coming days.According to the Wall Street Journal, U.S. officials say the U.S. military is prepared to board and seize Iranian-linked vessels and merchant ships in international waters in the coming days.On April 18, the Security Service of Ukraine (SBU) announced on social media that it had struck three Russian warships in Crimea. The SBU stated that the struck warships included the Russian Navys large landing ships "Yamal" and "Azov," as well as a warship of unidentified type. Other reports indicated that a Russian Project 21980 anti-sabotage boat "may have been hit."On April 18, Naghdi, an advisor to the commander-in-chief of Irans Islamic Revolutionary Guard Corps, said in an interview that Irans missile and drone production is still ongoing.

As Yields Approach 3%, the US Dollar Index Pursues Establishment Above 101.00

Larissa Barlow

Apr 20, 2022 09:53

In early Tokyo, the US dollar index (DXY) is auctioning in a narrow range of 100.094-101.03. The asset is establishing a base before breaking through the 101.00 barrier, as the DXY has been bolstered by rising estimates of interest rates reaching 3.5 percent by the end of fiscal year 2022.

Fed Policymakers' Addresses

President James Bullard of the Federal Reserve Bank of St. Louis (Fed) opened the door on Monday for the Fed to boost interest rates 75 basis points (bps) in its May monetary policy statement. The likelihood of a massive interest rate hike has increased following the US economy's March inflation reading of 8.5 percent.

 

Meanwhile, Chicago Fed President Charles Evans stated on Tuesday that he is "comfortable" with a rate hike cycle this year that includes two 50 basis point increases and reaches a neutral level by year's end, but he does not see the need for further hikes, according to Reuters.

US Treasury Yields Increase Significantly

For the first time in three years, 10-year US Treasury yields are attempting to breach the psychological level of 3%. Rising wagers on a prolonged era of low interest rates are boosting yields, which eventually drive the greenback higher.

 

This week's significant events include the issuance of building permits, housing starts, initial jobless claims, and the S&P Global PMI.

 

On the back burner are the Russia-Ukraine Peace Talks, the International Monetary Fund (IMF) meeting, the People's Bank of China (PBOC) interest rate decision, the Federal Reserve Chair Jerome Powell's speech, the European Central Bank (ECB) President Christine Lagarde's speech, and the Bank of England's (BOE) Governor Andrew Bailey's speech.

Spot Dollar Index 

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