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On September 19th, CNN reported on September 18th that sources said the US military narrowly avoided an incident after using an AI-generated false intelligence report. The report stated that this spring, during the war with Iran, an intelligence report circulating among US military personnel raised concerns. The report claimed that a Chinese ship was transporting components for a nuclear weapons program in the Middle East. Four sources familiar with the incident said the US military quickly initiated a plan to intercept the ship. Two of the sources indicated that US military personnel were preparing to board. One source and another informed source stated that US military aircraft had been scrambled. However, just as the planned operation was about to begin, US officials thoroughly examined the report, compiled by analysts from the US Special Operations Command, and discovered that it was generated using AI. The chatbot used by the analyst had incorrectly identified the cargo.Commander of U.S. Central Command: We are forming a new coalition attack drone force.Commander of U.S. Central Command: The U.S. is working with partners to increase shipping volume through the Strait of Hormuz.Commander of U.S. Central Command: The main passageways of the Strait of Hormuz have not been affected by mines.On September 19th, MS NOW stated that its reporters were denied entry to the White House premises earlier that day. MS NOW stated, "The White House belongs to the American people, and decisions made within the White House are supported by our taxpayer money." The media outlet indicated that MS NOW plans to take all necessary measures to uphold its First Amendment rights and the vital role of independent journalism in a democratic system. This comes after US President Trump announced an immediate ban on CNN, MS NOW, and Politico from entering the White House, citing their long-standing practice of publishing "fake news."

NZD/USD falls rapidly from 0.6260 when the RBNZ announces a decline in inflation projections to 3.07 percent

Daniel Rogers

Aug 08, 2022 12:00

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The NZD/USD pair has encountered selling pressure while attempting to surpass the immediate resistance level of 0.6260. The asset has seen bids after the Reserve Bank of New Zealand (RBNZ) announced inflation estimates at 3.07 percent, down from 3.29 percent previously. It could be an indication of waning price pressure, but additional evidence is still needed to support the argument.

 

Price pressures in the New Zealand economy are increasing and have not yet shown signs of weariness. A June report indicates that an inflation rate of 7.3% is adequate to generate headwinds for families. The RBNZ is consistently escalating its policy tightening measures to combat the same. RBNZ Governor Adrian Orr has already increased the Official Cash Rate by 2.50 percentage points.

 

On the front of the US dollar, the US dollar index (DXY) has returned all intraday gains and is currently trading near the day's open at 106.60. While attempting to break over the crucial resistance level of 106.80, the DXY has encountered selling pressure. This week, investors' attention is centered on Wednesday's release of the US Consumer Price Index (CPI).

 

The annual inflation rate is projected to continue at 8.7 percent, down from 9.1 percent in the previous report. Oil prices have been on a downward trend in July, which may be the determining factor for a significant decline in the price increase index. While the US CPI excluding volatile food and oil prices may increase from 5.9 percent to 6.1 percent, the previous reading was 5.9 percent.

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