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On September 12, Iranian Foreign Ministry spokesman Baghae stated on September 11 that Iran, Iraq, and other Persian Gulf littoral states will hold a regional meeting in Oman on September 14. In addition to various regional issues, the meeting will also discuss the outcome of negotiations between Iran and Oman regarding a safe maritime passage through the Strait of Hormuz. Baghae said he hopes the meeting will help enhance understanding among the countries in the region and strengthen common regional security. Baghae also stated that Iran is committed to ensuring the safety of navigation in the Strait of Hormuz, but as long as the US maritime blockade, economic warfare, and other acts of aggression and illegal interference continue, the safety of navigation in the strait cannot be guaranteed.According to the Iranian Labour News Agency (ILNA), a spokesperson for the Iranian Civil Aviation Organization denied rumors that Turkey had stopped providing airport services and ground handling for Iranian airlines, and emphasized that Iranian airlines flight operations continue as scheduled.On September 12th, at the Xiongan Forum of the 2026 China Computing Power Conference, the Xiongan International Integrated Computing Power Scheduling Center officially launched. The center comprises two main modules: an integrated computing power scheduling platform and an international large-scale model service platform. The Xiongan International Integrated Computing Power Scheduling Platform aims to create a national-level cross-domain computing power scheduling hub, coordinating and aggregating diverse and heterogeneous computing power resources, connecting the computing power circulation network, and solving the problem of isolated computing power. The platform already covers eight national computing power hubs and connects to 44 computing power resource pools in 19 provinces across China, with a total computing power exceeding 27,000 petabytes. Based on the integrated computing power scheduling platform, the Xiongan International Large-Scale Model Service Platform focuses on token scheduling services, aggregating mainstream large-scale models across all categories, and will create a global large-scale model aggregation service hub.The National Highway Traffic Safety Administration (NHTSA) has recalled 223,472 Ford vehicles in the United States due to a potential road hazard caused by a detached fuel tank, which could increase the risk of a collision. Additionally, fuel leaks could cause the engine to stall or increase the risk of a fire.On September 12, according to the Iranian Labor News Agency (ILNA), Iranian President Pezechzian met with Malaysian Prime Minister Anwar Ibrahim on Saturday morning during the BRICS summit. The two exchanged views on regional issues, bilateral relations, and the unity of Muslim countries. Pezechzian stated that developing relations with neighboring and brotherly countries is one of the main strategies of the Islamic Republic of Iran. He said, "Our neighbors are our brothers, and our relations with them are expanding daily. Our connections with all countries are continuing in a more rational and robust manner." Pezechzian pointed out that Iran has no problems with its Muslim brothers and neighbors, but the United States is trying to turn these friendly countries into enemies. He argued that all of Irans demands are simply rights granted by international law. He stated that regional conflicts stem from the expansionism of the United States and Europe, as well as the crimes committed by Israel, because they do not want to see independent states in the region. Pezechzian also stated, "We do not need a regional gendarmerie; the territorial integrity and security of the region can only be achieved by the major actors and states of the region."

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.