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According to Irans Fars News Agency, a spokesperson for the Iranian Foreign Ministry stated that the release of frozen Iranian funds is an important part of the agreement.On June 13, Iranian Foreign Ministry spokesman Bagaei said that the specific timing for signing a memorandum of understanding between Iran and the United States still needs to be awaited, and there are no plans for an overseas visit in the next day or two.Domestic News: 1. Six departments jointly issued the "Guidelines for the Classification and Grading of Financial Information Service Data". 2. Eleven departments, including the Ministry of Transport, jointly issued a document to promote the large-scale application of new energy heavy trucks. 3. Yu Xiaoping, former vice president of the Peoples Insurance Company of China, is under investigation. 4. The China Motorcycle Chamber of Commerce advocates consciously abandoning unethical business practices such as malicious low-price dumping and disorderly bidding for orders. 5. A spokesperson for the Ministry of Commerce answered reporters questions regarding the US Department of Defenses inclusion of some Chinese companies in the "List of Chinese Military Enterprises". International News: 1. "Sister Wood" sold AMD stock and bought $440 million worth of SpaceX stock. 2. Trump: US military killed Ninho Guerrero, leader of the "Aragua Trains" organization. 3. ECB Governing Council member Nagel: Even if the conflict ends, prices may remain high for a long time. 4. US capital is vying for Venezuelan oil fields, planning to create the first Venezuelan oil company listed on Nasdaq. 5. The US bans foreign entities from accessing Fable 5 and Mythos 5; Anthropic issued a lengthy rebuttal. 6. Middle East Situation—① Irans late Supreme Leader Khamenei will be buried on July 9. ② Lebanese sources: A new round of Lebanon-Israel talks will be held on July 22. ③ Pakistani Prime Minister: A US-Iran agreement is expected to be finalized within 24 hours, with electronic signing to take place immediately afterward. Technical negotiations are planned to begin next week. ④ Trump retweeted a tweet from the Pakistani Prime Minister regarding the possibility of signing a US-Iran peace agreement within 24 hours. ⑤ Iranian Foreign Ministry: A potential US-Iran memorandum of understanding is not a final agreement and will not be signed tomorrow, but completion within the next few days is not ruled out. ⑥ Media reports that an Iranian delegation will visit Pakistan on July 14. The Iranian Foreign Ministry denies this: There are no plans to visit Pakistan or Geneva in the coming days.On June 13, Iranian Foreign Ministry spokesman Baghae said that any potential understanding between Iran and the United States is merely to promote continued dialogue, not a final agreement; unfreezing Iranian assets will be an indispensable part of any Iran-US understanding. According to the Iranian Students News Agency, Baghae said during a meeting with media representatives that Irans current focus is on ending fighting on all fronts and regional tensions, and that it will not delve into the details of the nuclear issue at this stage. He said the only way to achieve regional security is to end the presence of foreign military forces in the region. Baghae emphasized that the unfreezing of Iranian assets is an important component of the understanding and will not be excluded. Current discussions also include addressing US hostile actions against Iranian vessels and issues related to the Strait of Hormuz. Baghae said that Iran will proceed with the utmost caution in advancing negotiations and the diplomatic process, while remaining vigilant based on past experience. If the other side refuses to fulfill its obligations, Iran can take countermeasures.A senior U.S. government official said: "We believe a trade agreement between the U.S. and India is possible, but we do not expect it to be finalized during the G7 meeting."

GBP/USD expects potential gains above 1.2250 in advance of UK inflation data

Daniel Rogers

Jan 16, 2023 10:55

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The GBP/USD pair is struggling to extend advances above the immediate resistance level of 1.2250 in the early Asian session. The Cable had selling pressure while repeatedly overcoming the aforementioned resistance level, but it is currently likely to extend the uptrend due to a significant increase in market participants' risk appetite.

 

A four-day winning streak in the S&P 500 suggests a relatively bullish market sentiment. Investors pour capital into perceived-risk assets while dumping perceived-safety assets. Surprisingly, rates on 10-year US Treasury securities rose to 3.50 percent. The US Dollar Index (DXY) was able to minimize its drop at around 101.76.

 

This week, the Pound Sterling will be affected by the United Kingdom's announcement of inflation data on Wednesday. The headline Consumer Price Index (CPI) (Dec) is anticipated to decline to 10.6% from 10.7% before. While the figures for the core price index, which includes oil and gas prices, may rise from 6.3% to 6.6% over the same time period.

 

It indicates that UK inflation has become more enduring, and the Bank of England (BOE) will be required to continue raising interest rates. Catherine Mann, a member of the BOE, remarked that the central bank need not be concerned about the possibility of overtightening during its interest rate-raising cycle.

 

Investors anticipate the publication of Producer Price Index (PPI) data in the United States. The market expects headline factory gate prices of goods and services to decrease from 7.4% to 6.8% in December. Additionally, the core PPI may fall to 5.9% from 6.2% in a comparable era.


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