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On October 18, local time, Afghan government spokesman Zabiullah Mujahid issued a statement saying that negotiations with Pakistan are scheduled to be held in Doha, the capital of Qatar, on the same day. A high-level delegation led by Afghan Defense Minister Yakub has set off for Doha.On October 18th, recently, there have been continuous reports from Tesla owners in South Korea that the battery management system of some models has malfunctioned, resulting in the maximum charge capacity of the car being limited to about 50%, seriously affecting the normal use of the vehicle. Teslas passive response has caused strong dissatisfaction among consumers. It is reported that Teslas car registrations in South Korea increased from 15,000 in 2020 to 112,000 in the first half of this year. The Ministry of Land, Infrastructure and Transport of South Korea has launched an investigation and stated that once defects are confirmed, it will order a mandatory recall. At the same time, South Korea asked Tesla to submit a rectification plan last month, but has not received a response so far. A person related to the South Korean Ministry of Environment said that they are considering canceling Teslas electric vehicle subsidy eligibility.On October 18th, Afghanistans Dawn News website reported, citing Afghan security sources, that Pakistan launched an airstrike in Paktika, Afghanistans eastern border province, on the evening of the 17th, killing at least 17 civilians, including three cricket players. The report said the attack occurred around 8:30 PM local time, when a Pakistani fighter jet struck a residential building. Sources said another 16 people were injured, including women and children. Afghan government spokesman Zabiullah Mujahid announced in a statement on social media on the 18th that Defense Minister Yaqoob had led a senior government delegation to Doha, Qatar. Earlier, local media reported that a delegation composed of senior security and intelligence officials from Afghanistan and Pakistan would hold talks in Doha to discuss extending the ceasefire and other issues.Afghan government spokesman: Afghanistan and Pakistan will hold talks in Doha, Qatar, after fierce exchanges of fire broke out between the two sides.On October 18, Japans ruling Liberal Democratic Party and the largest opposition Constitutional Democratic Party held talks on the morning of the 17th and reached an agreement on holding a prime ministerial nomination election on the 21st. The two sides also agreed on the duration of the extraordinary Diet session, which will run from October 21st to December 17th.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

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Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers. 

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.


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