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According to Israels public broadcaster, the UAE told the Israeli ambassador that Israel should pressure Trump to take military action against Iran.On May 6, local time, the Central Headquarters of the Iranian Armed Forces, Hatem Anbia, issued a statement on May 5 stating that "no attacks have been launched against the UAE recently." The statement warned that if the UAE takes any action against Iranian-administered islands, ports, and coastlines, Iran will respond with an "overwhelming force."On May 6, the World Health Organization and the Spanish Ministry of Health held consultations on May 5 regarding whether the cruise ship "Hundius," which was experiencing a Hantavirus outbreak, should dock in the Canary Islands for medical treatment. Spain proposed transferring infected individuals to Cape Verde, an African country, to avoid the cruise ship docking in the Canary Islands.On May 6, Iranian President Peskov stated that despite the US commitment to dialogue, escalating US military operations and threats in the region persist. The US is applying "maximum pressure" on Iran, and Iran will not be pressured into accepting US demands.On May 6th, Japanese House of Councillors Muneo Suzuki, who is currently visiting Russia, told Russian media on the 5th that Japans sanctions against Russia have also harmed Japans national interests. Suzuki said that the policies of former Japanese Prime Minister Fumio Kishida, who completely followed then-US President Bidens policies in imposing sanctions on Russia, have become a "negative legacy" for Japan. "I believe it is necessary to establish telephone contact between Japanese Foreign Minister Toshimitsu Motegi and Russian Foreign Minister Sergey Lavrov as soon as possible," Suzuki said. He indicated that the foreign ministers or deputy foreign ministers of Japan and Russia might meet during the ASEAN Foreign Ministers Meeting in Manila, the capital of the Philippines, in July. According to the Russian Foreign Ministry website, Russian Deputy Foreign Minister Mikhail Galuzin emphasized during his meeting with Suzuki on the 5th that Japans policy of providing military-technical assistance to Ukraine is detrimental to the future development of Russia-Japan relations.

The USD/JPY crosses the 135.00 mark as the DXY rises ahead of US inflation

Daniel Rogers

Aug 10, 2022 11:32

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The USD/JPY pair is climbing northward during the Asian session in an attempt to retake its two-week high at 135.58. The asset's price turned positive on Monday as a result of the abundance of bids that occurred near 134.50. The USD/JPY pair's two-day consolidated activity shows that market participants are anxiously awaiting the release of the US Consumer Price Index (CPI).

 

Investors expect a decrease in price pressures this time, thus the release of the US inflation report is crucial. The investment community is aware that the crisis between Russia and Ukraine sharply increased oil prices, which continued to be essential to pressures on global costs.

 

A more than 11% drop in oil prices in July contributed to the black gold's continued sluggishness and lowered inflation expectations. The market anticipates that the inflation rate will decrease from 9.1% to 8.7%. The core CPI, which does not include food and oil, is anticipated to increase to 6.1% from the previously announced 5.9%. It appears that the demand for durable goods is rapidly increasing again. The US dollar index (DXY) is currently aiming to surpass the 106.40 immediate barrier.

 

The yen bulls are circling Tokyo as a result of Japan's government reorganization. Finance Minister Shunichi Suzuki will probably remain in the cabinet after this week's reorganization by Japanese Prime Minister Fumio Kishida. All eyes will now be on the Japanese government's efforts to raise the labor cost index, which is essential for keeping inflation over 2%.


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