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On September 8, Hamas issued a statement on the 7th, claiming that the Israeli government and military are attempting to cover up their crimes against Palestinians by clearing, crushing, and removing rubble from the Gaza Strip. The statement asserted that the rubble still contains the remains of thousands of missing persons, as well as direct physical evidence proving that Israel has committed genocide over the past two years.On September 8th, US President Trump stated on social media that Bombardier products would no longer be sold in the United States, claiming that the companys products were "not good enough" and that over 50% of its revenue came from the US, relying on American buyers, businesses, airports, and services. Trump accused Canada of restricting US banks and businesses from entering its market, stating that Canada even prevented Gulfstream Aerospace from operating there, calling this "unjust and unfair." Trump declared, "That era is over," and that if Bombardier wants to enter the US market, it must produce in the US and can no longer treat the US as an "ATM." He also urged people to "buy American," fly on American airlines, and consume American alcohol and beverages, reiterating "America First."On September 8th, Iran unveiled a new missile on the 7th local time. Iran stated that the debut of the ballistic missile, named "Qassem Bashir," is a milestone in the countrys defense strategy. This missile boasts a longer range and higher accuracy, symbolizing Irans shift "from passive deterrence to active deterrence." Iran claims that the "Qassem Bashir" missile uses solid fuel, electro-optical guidance, and a half-ton warhead, sending a clear message to adversaries: Iran is no longer merely reacting passively, but actively defending itself.Rosatom: Off-site power supply to the Zaporizhzhia nuclear power plant has been restored via the Ferosplavna transmission line.September 8th - According to sources, Deutsche Telekom, Orange, Vodafone, and Telefonica are in preliminary discussions to form an alliance to jointly bid for EU satellite spectrum and provide "satellite direct-connect mobile" services, competing with Elon Musks Starlink. No final decision has been made yet. The EU is considering new rules for 2GHz satellite spectrum. After existing licenses expire in 2027, approximately one-third of the spectrum will be reserved for domestic operators controlled by European companies to enhance Europes independent satellite communication capabilities; another third is intended for sovereign communication services provided by the European IRIS² satellite constellation; and the remaining third will be open to international companies for bidding. Starlink currently provides satellite broadband in most parts of Europe and collaborates with companies like Deutsche Telekom to develop direct-connect services, but it does not yet have the right to independently utilize relevant EU spectrum to provide such services.

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.