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On July 25, satellite images released by Iran showed that a US military ammunition depot at King Faisal Air Base in Jordan was completely destroyed. This came a day after Iran claimed to have struck US bases in the region. Jordan, meanwhile, stated that its air defense system and the Royal Jordanian Air Force intercepted and shot down seven missiles and six drones fired from Iranian airspace towards Jordanian territory on July 24.The Security Service of Ukraine (SBU) stated that Ukraine attacked the Russian Filanovsky oil platform and two cargo ships in the Caspian Sea.On July 25, Ukrainian President Volodymyr Zelenskyy stated that Ukraines long-range strikes in the Caspian region had achieved very good results, targeting ships transporting Iranian military goods and a warship. Other targets included a factory in the Kirov region, approximately 1200 kilometers from the Ukrainian border, which supplies components to Russia for its attacks on Ukraine. Additionally, strikes were also carried out on an oil refinery in the Tyumen region, a logistics facility in Yekaterinburg, and a fuel depot in Rostov-on-Don.Ukrainian President Zelensky: Ukraine attacked ships transporting military supplies involving Iran in the Caspian Sea.July 25 - Ukrainian President Volodymyr Zelenskyy announced on the 25th that Russian forces launched a large-scale airstrike on multiple locations in Ukraine in the early hours of the day, using two missiles and nearly 160 drones. The attack has resulted in at least six deaths and ten injuries, and damage to numerous civilian buildings and facilities. Russia has not yet responded to the report.

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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