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On July 29, according to Irans Fars News Agency, citing Israels Channel 12, Israeli and UAE officials recently held several secret meetings in an unnamed third country to discuss coordinating their positions on Iran and taking joint action in the international arena. The report stated that during the talks, the UAE strongly opposed the US-Iran memorandum of understanding, arguing that while the agreement might buy Iran time to improve its economic situation, it offered no substantial concessions. The two sides also discussed coordinating measures against Iran within international organizations, but agreed that any action would require prior consultation with the Trump administration. The report cited Western diplomatic sources as saying that the UAEs stance on Iran is tougher than some Gulf states, and that its ability to export energy through alternative routes strengthens its shared interests with Israel in dealing with the Iranian issue.As of the 2:30 closing bell, the main Shanghai gold futures contract fell 0.73% to 882 yuan/gram, the main Shanghai silver futures contract fell 1.43% to 14,016 yuan/kilogram, and the main SC crude oil futures contract fell 2.48% to 527 yuan/barrel.As of the 2:30 closing bell, the main Shanghai gold futures contract fell 0.73%, the main Shanghai silver futures contract fell 1.43%, and the main SC crude oil futures contract fell 2.48%.Israeli Prime Minister Netanyahu: Our goal is the same as Trumps: to prevent Iran from acquiring nuclear weapons.Shares of Lucid Group (LCID.O) surged more than 25% after the company released a 13G filing showing that a Saudi prince holds shares in the company.

AUD/USD reaches 0.6920 due to upbeat Australian Trade Balance report

Alina Haynes

Jan 12, 2023 14:48

AUD:USD.png 

 

The AUD/USD pair has surged above 0.6920 after the Australian Bureau of Statistics announced monthly Trade Balance (Nov) data that was stronger than anticipated. The economic statistics has climbed to 13,201M from 10,500M as predicted and 12,217M as originally published.

 

Prior to the presentation of the United States Consumer Price Index (CPI) statistics, investors abstained from acquiring considerable holdings in the Australian dollar.

 

After back-to-back solid sessions, S&P500 futures are witnessing mild selling pressure, signaling investor concern ahead of the US inflation report. The US Dollar Index (DXY) continued to struggle at 103.00 amid a dull trading environment. In the meantime, 10-year US Treasury yields have recovered and soared past 3.56 percent.

 

Analysts at RBC Economics forecast a dramatic decrease in annual U.S. consumer price increase in December, from 7.1% in November to 6.3%. The enormous fall in energy prices is partially responsible for the abrupt decline in price rise. In December, they estimate 'core' (excluding food and energy products) price growth to decrease to 5.6% YoY from 6.0% in October.

 

In the preceding two weeks, the US Dollar Index has been battered, and only an unexpected jump in inflation data could give a buffer for the future. In a broader sense, Wells Fargo analysts estimate that inflation will fall to 2.2% YoY by the end of the year.

 

The Australian Dollar will undergo volatility with the announcement of China's CPI numbers. According to forecasts, annual CPI (Dec) is predicted to grow to 1.8% from the previous report of 1.6%. While the monthly result may fall by 0.1% compared to the prior statement of -0.2%, the previous figure was -0.2%. In addition, the Producer Price Index (PPI) may drop by 0.1%.

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