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June 21, according to the United Nations High Commissioner for Refugees, more than 4 million Afghans who fled the war live in Iran. But the war between Israel and Iran has raised security concerns, forcing some Afghans to return to the country they left decades ago. "The war has changed everything. As the violence got closer, we feared for our lives and had no choice but to leave early," said Nasima Ghaffari, who returned to Afghanistan. "Now we are back in our country, and we have nothing when we return - no money, no home, only uncertainty." Its not just Afghans who are fleeing, hundreds of Pakistanis also cross the border into Pakistan every day.June 21 news: On June 20, Iran and Israel took their own actions in the diplomatic field, and the leaders of Russia and the United States made opposite statements on the Iranian nuclear issue on the same day. Putin said that Russia is ready to support Irans development of peaceful nuclear energy, and there is no evidence that Iran is suspected of intending to obtain nuclear weapons; Trump said that Iran is only "weeks or months" away from making nuclear weapons, and the US intelligence agencys claim that there is no evidence that Iran is making nuclear weapons is wrong.On June 21, the U.S. Senate is considering a major change to federal fuel economy regulations, which could hit a policy that has significantly reduced gasoline consumption and promoted the development of fuel-efficient cars such as Toyotas Prius hybrid. As part of Trumps broad tax and spending bill, Republican senators proposed changing the Corporate Average Fuel Economy (CAFE) rules. If passed, the proposal would eliminate fines for violating CAFE and nearly abolish regulations that have pushed automakers to produce cleaner, more fuel-efficient cars for generations. According to Energy Policy magazine, this technology has saved 2 trillion gallons of gasoline in the past 50 years.Iran reported that Israel attacked an Iranian Revolutionary Guard base in Isfahan in western Iran.In Irans southwestern province of Khuzestan, explosions were heard in Ahvaz and Mahshahr.

As investors anticipate US Services PMI, the USD/JPY pair falls to around 134.00

Daniel Rogers

Dec 05, 2022 14:09

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The USD/JPY pair attempted to surpass the immediate barrier of 134.50 during the Tokyo session. As investors anticipate fresh momentum from U.S. Services PMI data, the asset is expected to remain on tenterhooks. As Federal Reserve (Fed) policymakers do not expect the current rate of interest rate hikes to continue, the risk profile remains favorable.

 

Charles Evans, president of the Chicago Fed, was quoted by Reuters as saying on Friday, "We will likely have a little higher Fed policy rate peak even as we slow the pace of rate hikes."

 

The US Dollar Index (DXY) is hovering near its immediate support level of 104.50 and is likely to test Friday's low at 104.40. In the context of a significant decline in the desirability of safe-haven assets, the risk appetite theme is likely to continue exerting pressure on US Dollar bulls.

 

In the interim, 10-year US Treasury rates have increased after falling below 3.50 percent during the Asian session, as market sentiment turns cautious prior to the release of US Services PMI data. The projected economic statistics is 55.6, a decline from the previous report of 54.4.

 

The New Orders Index is expected to rise from 56.5 to 58.5 on the US Services PMI spectrum. This indicates that future demand will be robust, which might de-anchor short-term inflation expectations and ruin the risk-on profile.

 

On the Tokyo front, Governor of the Bank of Japan (BOJ) Haruhiko Kuroda stressed the potential of a decrease in inflation beginning in CY2023. This may encourage the BOJ to continue easing monetary policy in order to keep inflation near the 2% target. Total Household Expenditures statistics will be of the utmost relevance in the future. The economic data are projected to increase annually by 3.4%, up from 2.3% in the previous report.

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