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On August 23, Rezaei, Secretary of Irans Supreme National Security Council, warned Gulf states against joining the US-imposed economic sanctions against Iran, stating that Tehran would retaliate against these countries interests. "If Irans neighbors join the US economic war, the Persian Gulf and the Strait of Hormuz will be completely depleted of oil, and we will also target other oil export routes in the Persian Gulf," he said. Rezaei also claimed that Trump launched the economic war against Iran at the urging of Israeli Prime Minister Netanyahu. He said Trump was initially skeptical of the idea, but Netanyahu persuaded him to test it for two to three months before assessing whether to continue for another six months. "What the enemy hopes for is division and discord," he reiterated, emphasizing Irans unity.According to Al Jazeera, sources familiar with the matter said that Pakistan’s first Chief of Defence Forces, Asim Munir, is expected to return to Tehran in the coming days.A 5.9-magnitude earthquake struck southern Ibaraki Prefecture, Japan, early on the 23rd. No abnormalities have been detected at several nuclear facilities near the epicenter. NHK, citing power company sources, reported that no abnormalities have been detected at the Fukushima Daiichi, Tokai, and Tokai Daini nuclear power plants, all located near the epicenter, and radiation monitoring readings around the plants have not shown significant changes.On August 23, it was reported that price competition for large-scale AI models has intensified recently, with several US AI companies lowering prices for their models. OpenAI, the US-based Open AI Research Center, announced on the 21st that it would reduce the base price of its cutting-edge GPT-5.6 Sol model for developers by over 20%, effective immediately. This discounted price will be valid for three months. At the end of last month, OpenAI also lowered the prices of other models, with mid-range models reduced by 20% and low-cost models by 80%. Furthermore, Google, a subsidiary of Alphabet, recently released Gemini 3.7 Flash and simultaneously lowered its price, making it approximately half the price of the previous version. Some US media analysts believe that the increasingly fierce price competition for large-scale AI models, particularly the open-source and pricing strategies of some Chinese AI companies, has put pressure on US companies.Irans Supreme National Security Council Secretary Rezaei: Iran will strike at the interests of countries that assist the United States in waging economic war against Iran.

Before the US NFP, the USD/JPY is likely to decrease to roughly 132.00

Alina Haynes

Aug 05, 2022 14:49

截屏2022-08-05 上午9.50.18.png 

 

The difficulties that the USD/JPY pair met around 133.00 during the Asian session are now in full force. As investors predict a disappointing result from the US Nonfarm Payrolls (NFP) data, the asset has printed a low of 132.77 and is projected to decrease further to about 132.00.

 

JP Morgan experts projected that the US Nonfarm Payrolls (NFP) will be poorer than expected at 200K in the July labor market statistics, compared to the consensus expectation of 250k jobs gained in the month. The US economy produced 372k new jobs in the labor market in June. The labor market is under great pressure as a result of data showing a continued fall in job creation. The unemployment rate, though, will be constant at 3.6 percent.

 

Increased labor market dangers are a result of rising interest rates and their compounding impacts. Due to pricey dollars, business players are unable to invest without reluctance. Low investment possibilities cannot thus speed the process of creating jobs.

 

Despite the Federal Reserve (Fed) policymakers' enhanced interest rate ambitions, the US dollar index (DXY) has thrown up the support of 106.00. According to Cleveland Fed President Loretta J. Mester, ending the policy tightening program without detecting a decline in the inflation rate for several months is not conceivable at interest rates above 4 percent .

 

Tokyo's entire household expenditure has dramatically climbed from the previous report of -0.5 percent and the predictions of 1.5 percent to 3.5 percent. As an inflation indicator, the economic data may aid the yen bulls. The economic data have greatly improved, which means that the inflation rate may climb much further. The findings may, however, be largely impacted by growing energy expenditures. However, a hike in the labor cost index is shortly to come in order to keep the inflation rate over 2 percent.


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