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On November 8, Chicago Mayor Brandon Johnson addressed the UN Human Rights Council on November 7. Johnson stated that the US federal governments refusal to accept review by the Human Rights Council was an attempt to evade scrutiny. He argued that the Human Rights Council should apply the same accountability standards to the US federal government as it does elsewhere in the world, and that no country is above international law. Johnson called on the Human Rights Council to send independent experts to Chicago to investigate the challenges facing the city; he also urged the Council to take further accountability measures, including convening a special session to investigate the worsening human rights crisis in the United States. The UN Human Rights Council was scheduled to hold its fourth round of Universal Periodic Review (UPR) on November 7, but the US representative refused to attend, preventing the review from proceeding normally. The Human Rights Council adopted a decision that day urging the United States to resume cooperation with the UPR mechanism.Russian Ministry of Defense: Russian troops have occupied the village of Vovche in the Dnipropetrovsk region of Ukraine.Ukrainian Prime Minister: Russia’s attack on Ukrainian dams damaged several large energy facilities in the Kyiv, Kharkiv and Poltava regions.November 8th - Pfizer has finalized its $10 billion acquisition offer for Metsera, a startup focused on weight-loss drugs, after a bidding war with Novo Nordisk. Novo Nordisk stated that after careful evaluation, it decided not to raise its offer and will continue to monitor business expansion and other acquisition opportunities. Under the agreement, Pfizer will complete the transaction at a maximum price of $86.25 per share, including an initial cash payment of $65.60 per share, and an additional consideration of up to $20.65 per share if certain performance targets are met.November 8th - On November 7th local time, Canadian Prime Minister Mark Carney stated that the increasingly close economic relationship between Canada and the United States over the past decades has come to an end. Carney said that Canada once enjoyed some economic advantages due to its close ties with the US, but this has now become a weakness. He described this change as rapid and almost seamless, and called for a swift and radical shift in Canadas economic strategy.

AUD/USD struggles to surpass 0.6350; Australian Inflation/US GDP under the microscope

Alina Haynes

Oct 25, 2022 15:37

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During the Tokyo trading session, the AUD/USD pair reversed its decline to trade near 0.6350. The Australian dollar is under pressure as a result of Jinping's pessimism in China. Despite a small decline in S&P500 futures following three straight bullish settlements, the risk-on inclination remains firm. Following a poor beginning in Tokyo, the US dollar index (DXY) is attempting to retake the critical 112.00 mark.

 

The yield on 10-year US Treasury notes has reduced to 4.21 percent as a result of a positive market sentiment. According to the CME FedWatch tool, the probability of a fourth consecutive rate hike by the Federal Reserve (Fed) of 75 basis points (bps) stands at 95%.

 

According to a Reuters survey regarding the Fed's interest rate forecasts, the central bank will announce its fourth consecutive 75 basis point rate increase. According to additional results of the Reuters poll, the central bank should not terminate monetary policy until the inflation rate falls to around half of its current level. Without a question, the Fed's aggressive rate-hiking cycle increases the probability of a future recession.

 

MSNBC reported that US Treasury Secretary Janet Yellen remarked, "Cannot rule out risk" of a recession, creating a huge surge in recession worries.

 

Thursday's Gross Domestic Product (GDP) numbers will dominate the news in the future. The annualized GDP is projected to climb significantly to 2.4%, compared to the earlier forecast of a 0.6% decline.

 

The Australian bulls have been shaken by the extraordinary third term of Chinese leader XI Jinping. China's economic prospects are in jeopardy, which has an effect on Australia's trade projections. Moreover, Australian Consumer Price Index (CPI) data is increasing popularity. According to projections, the annual rate of headline inflation will rise to 7.0% from 6.1% in the previous report.


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