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On August 24, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, held talks with Kuwaiti Foreign Minister Jarrah in Beijing. Wang Yi emphasized that the current situation in the Middle East and the Gulf region has once again reached a critical juncture. The old script of conflict cycles should not be repeated, and a new chapter of stability and prosperity should be opened as soon as possible. China has always maintained that no matter how great the differences, a solution should be found at the negotiating table, not through gunfire. Once the steps towards a ceasefire have been taken, there should be no turning back. It is hoped that the parties involved will actively respond to the international communitys expectations for peace, prioritize the well-being of the people of the region, and return to the track of dialogue and negotiation as soon as possible. The urgent task is to de-escalate the situation. China is willing to strengthen coordination with Kuwait and continue to contribute to the restoration of regional peace and tranquility.On August 24, Iranian Foreign Ministry spokesman Baghae stated that Iran would not allow its enemies to impose conditions on it, emphasizing "Irans determination to defend its national sovereignty." He said, "Iran will never allow the war to end based on the conditions imposed by the aggressors." "Iran has not waged any war; it is merely defending its sovereignty and territorial integrity. Therefore, the aggressors must be held accountable for their actions."On August 24th, it was reported that some Hong Kong banks have initiated a fund source declaration process for some existing mainland investment clients, setting deadlines such as August 20th (failure to submit may result in suspension of investment services) and September 12th (failure to submit may result in termination of investment services). Previously, at the request of the Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority, some banks had already begun requiring newly opened mainland accounts to confirm that the source of funds for investors was from legitimate overseas channels. This new fund source confirmation process targets existing mainland investor accounts, attracting attention and discussion. It is understood that some licensed Hong Kong institutions, including HSBC Hong Kong and branches of Chinese banks in Hong Kong, have indeed taken such measures recently, but primarily targeting long-term inactive accounts.On August 24, Iranian Foreign Ministry spokesman Baghae criticized Washingtons economic policies toward Iran, calling them "a clear example of economic terrorism" aimed at punishing a nation that insists on defending its sovereignty and independence. He reiterated, "Imposing a naval blockade on Iran is considered an act of aggression, and we have warned that any action that cooperates with the illegal actions of the United States will have serious consequences." "Iran will never stand idly by in the face of such actions."August 24th news: From August 17th to August 23rd, the national logistics operation data is as follows: National railways transported 79.877 million tons of freight, a month-on-month increase of 0.74%; 56.155 million trucks passed through national expressways, a month-on-month increase of 4.4%; monitored ports completed a cargo throughput of 275.126 million tons, a month-on-month increase of 24.02%, and a container throughput of 7.01 million TEUs, a month-on-month increase of 13.01%; civil aviation handled 141,000 flights (including 4,856 cargo flights, of which 3,154 were international cargo flights and 1,702 were domestic cargo flights), a month-on-month increase of 1.45%; postal and express delivery collection volume was approximately 3.79 billion pieces, a month-on-month increase of 1.04%; and delivery volume was approximately 3.767 billion pieces, a month-on-month increase of 1.98%.

AUD/USD is stuck at 0.6900 and is unwilling to move

Daniel Rogers

Jul 20, 2022 11:56

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Phillip Lowe, the governor of the Reserve Bank of Australia, is now on the record saying that a hike in the cash rate is coming soon. The AUD/USD exchange rate is frozen at 0.69 as traders look for any hint from the governor of a 75 bp hike. However, so far in the speech, there has been no mention of such an increase.

 

The RBA said in its minutes that it is prepared for additional monetary tightening to go along with its most recent unexpectedly large rate increase, and officials vowed to continue to be steadfast in their fight against skyrocketing inflation. This led to an increase in the Australian dollar on Tuesday. In light of the tight labor market and impending inflation, the board noted that current interest rates were "still reasonably modest."

 

The governor brought up the most recent job statistics, which were released last week. According to this, Australia's net employment rose by 88,400 from May to June, which was more than three times the market expectation of a 30,000 rise. At the same time, the jobless rate decreased to a 48-year low of 3.5 percent. The Australian dollar is anticipated to appreciate along with threats from rising global inflation.