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On May 23, Iranian Foreign Ministry spokesman Baghae stated that the core purpose of Pakistani Army Chief of Staff Munirs visit to Iran was to convey and exchange specific information between Iran and the United States. He said, "At this stage, all our core focus is on ending this war of imposition." Baghae indicated that the two sides have held several rounds of intensive exchanges of views on different clauses in the proposal. They have also conducted in-depth discussions on issues where they have serious disagreements. Given the consistently contradictory stance of the United States, Iran cannot currently assert that this negotiation process will undergo a fundamental change. He said, "Our views have indeed converged somewhat, but this does not mean an agreement has been reached; it merely allows us to explore a possible solution."On May 23, an Iranian Foreign Ministry spokesperson stated that the current mediation process with the United States is "time-consuming and laborious" because the USs hostility dates back decades. "We discussed some key points and wording where disagreements remain, and made suggestions, some of which are still under review, with all parties expressing their opinions," the Islamic Republic News Agency quoted Bagae as saying. Bagae also thanked Pakistan for its mediation efforts.Iranian Foreign Ministry Spokesperson: We are currently focused on finalizing the memorandum of understanding with the United States. Over the past week, the two sides have been getting closer, and we must wait and see what happens in the next three or four days.Naftogaz, Ukraines state-owned gas company, reported that Russia attacked the Naftogaz oil and gas facilities in the Kharkiv and Poltava regions.Iranian Foreign Ministry Spokesperson: The trend this week is toward reducing differences, but we need to observe the situation over the next few days.

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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