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Slovak Prime Minister: In view of the energy crisis, the EU should lift sanctions on Russian oil and gas, restart the Friendship pipeline, and end the Russia-Ukraine conflict.On April 4th, local time, Ukrainian President Volodymyr Zelensky and Turkish President Recep Tayyip Erdoğan held a formal meeting at the Dolmabahçe Palace in Istanbul. The meeting was conducted behind closed doors and not open to the media. The agenda reportedly focused on three main areas: first, the current development of bilateral relations between Ukraine and Turkey, aiming to further deepen cooperation in various fields; second, regional development issues, exploring common development paths within the context of the regional situation; and third, promoting the establishment of a ceasefire mechanism in the Russia-Ukraine conflict and seeking a long-term solution, with particular emphasis on efforts made within the framework of the Istanbul Process.On April 4th, a source told CNBC that the U.S. Senate Banking Committee will hold a hearing on April 16th to consider Kevin Warshs nomination as Federal Reserve Chairman. Another criminal investigation surrounding the Fed is ongoing, examining whether current Chairman Jerome Powell made false statements to Congress regarding the expensive renovation of the Feds office buildings. Warshs nomination process is still progressing, potentially creating a conflict between the two parallel processes pushed by the Trump administration. Banking Committee member Thom Tillis has stated that he will not vote to confirm Warsh until the investigation is complete, meaning Trump cannot proceed with both processes simultaneously. However, by continuing to push forward with the hearings, Trump is clearly still trying to achieve this goal. The Senate Banking Committee has not yet included the hearings in its public schedule.According to CNBC, the U.S. Senate Banking Committee will hold a hearing on April 16 regarding the nomination of Kevin Warsh as chairman of the Federal Reserve.Jordan reported on April 4 that it has suffered 281 missile and drone attacks from Iran since the start of the conflict. The Jordanian Armed Forces stated that Iran has launched 161 missiles and 120 drones at the country since the conflict began. According to a statement released by Petra News Agency, the military claimed to have successfully intercepted all but 20 of the incoming targets. The statement added, "All Iranian attacks targeted key facilities and locations within Jordan and were not isolated incidents."

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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