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Ukrainian President Zelensky: Kiev cannot ensure the safety of global leaders during their visit to Moscow.On May 3, Ukrainian President Zelensky said that he had a meeting with former US President Trump during the funeral of Pope Francis in the Vatican last week, calling it the best conversation the two had ever had. Zelensky said that the US-Ukraine mineral agreement is beneficial to both sides and provides a guarantee for future US investment in Ukraine. He mentioned the issue of the air defense system during the talks, and Trump said he would work hard to promote it. Zelensky and Trump agreed that a 30-day ceasefire was the right first step. Zelensky also said that according to the agreement, Ukraine and the United States will each hold a 3:3 ratio of members in the Mineral Fund Council.Yemens Houthi rebels claimed responsibility for firing missiles at Israel.On May 3, EU Defense Commissioner Andrius Kubilius said Spains new goal is to spend 3% of GDP on defense. He also added that it will be the Spanish governments task to "find ways to increase defense spending in the near future." Trump has called on NATO allies to increase military spending to as high as 5%. Spanish Prime Minister Sanchez said on April 2 that Spains defense spending in 2024 will account for 1.3%, the lowest among NATO members. Spain said it will achieve NATOs goal of 2% of GDP for defense spending this year, while the previous self-set deadline was 2029.On May 3, according to data and public information from Castellum, an independent analysis agency, the number of sanctions imposed on Russia since 2014 has reached nearly 29,000, of which the United States, Canada and Switzerland have imposed the most restrictive measures. As of the end of April 2025, foreign countries have imposed about 28,937 non-trade sanctions on Russia. Among them, 92% have been imposed since the end of February 2022. The United States has imposed the most restrictive measures, accounting for 25.5% of the total number of sanctions imposed by various countries. The top three are Canada, accounting for 12.6%, and Switzerland, accounting for 11.3%.

When Will the RBA Minutes Be Released and How Will They Affect the AUD/USD?

Drake Hampton

Apr 19, 2022 09:50

These minutes will be released at the top of the hour and will generate considerable attention, given the absence of the word "patient" in the post-meeting statement.

 

"Specifically, the spotlight will be on the Board's commitment to waiting for "significant new evidence...on both [our emphasis] inflation and the evolution of labor costs" before raising the cash rate," ANZ Bank analysts said. "The bigger the commitment, the less likely a shift in May is, despite the possibility of an extremely strong Consumer Price Print."

How Might the Minutes Affect the AUD/USD Exchange Rate?

AUD/USD is already reversing an hourly bearish impulse, so anything less than hawkish could serve as a stimulus for further negative movement.

 

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Concerning the RBA Minutes

The Reserve Bank of Australia publishes the minutes of its meetings two weeks after the interest rate decision. The minutes contain an exhaustive record of the policy discussion, including points of contention. Additionally, they record the votes of the Committee's individual members. In general, if the RBA is pessimistic about the economy's inflation prospects, markets price in a larger probability of a rate hike, which benefits the AUD.

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