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① Iran 1. Libav was re-elected Speaker of the Iranian Islamic Parliament. 2. Twenty airports across Iran have resumed operations. 3. Iran announced it will deploy a new air defense system. 4. Air raid sirens sounded over Qeshm Island, Iran. 5. According to Iranian media reports, Iran activated its new "Arash Archers" system in recent hours, successfully shooting down an enemy drone over the strategic waters of the Persian Gulf. 6. Iranian media, citing Kermanpour, head of public relations at the Iranian Ministry of Health, reported on the 25th that Irans Supreme Leader Mojtaba had previously received treatment in a hospital and was discharged on March 1st. 7. Iranian media: The Iranian president has ordered the restoration of international internet access. 8. Continuous explosions were heard in Bandar Abbas, Iran; media reports say there is no need to worry. ③ Israel 1. Foreign ministers from eight countries jointly condemned the Israeli Minister of State Security. 2. Israeli Prime Minister Netanyahu testified again in court regarding his corruption case. ④ Strait of Hormuz 1. Iran announced it will charge "navigation service fees" to ships passing through the Strait of Hormuz. 2. Qatari media: The Strait of Hormuz will be opened in phases. 3. Iranian Revolutionary Guard Navy: In the past 24 hours, 32 ships, including oil tankers, container ships, and other merchant vessels, have passed through the Strait of Hormuz after obtaining permission. 4. The first Japanese oil tanker to arrive in Japan via the Strait of Hormuz since the start of the Iranian conflict. ⑤ Ceasefire Negotiations 1. US Secretary of State: The US and Iran have a “credible solution” on opening the Strait and the Iranian nuclear issue. 2. Irans Tasnim News Agency: Iran and the US have not yet reached a final memorandum of understanding. 3. Iranian media: Neither Iran nor the US made any commitments on the nuclear issue in the draft agreement. 4. Iranian Foreign Ministry Spokesperson: We have reached a framework, but no one can assert that the US and Iran will reach an agreement soon. The potential memorandum of understanding does not contain specific details on the management of the Strait of Hormuz. There are currently no plans to send a delegation to Pakistan. 5. Trump said negotiations with Iran are progressing well. 6. Qatar confirmed that a high-level Iranian delegation will travel to Doha for talks. 7. US media: The US and Iran are working to resolve differences in wording regarding the nuclear issue and sanctions. 8. Nikkei: Iran will open the Strait of Hormuz within 30 days of the agreement being reached, and the ceasefire agreement will be extended for 60 days. 9. Arab media reports that a draft agreement between the US and Iran has been reached. 10. Al Jazeera: The US and Iran have reached an understanding on frozen Iranian assets; the agreement may be announced tomorrow. ⑥ Other situations: 1. One Israeli soldier killed and one seriously wounded in southern Lebanon. 2. US and Saudi companies jointly developed a copy of an Iranian drone. 3. Israeli Prime Minister Netanyahu: Will intensify the crackdown on Hezbollah in Lebanon. 4. Trump called on several Middle Eastern countries to join the Abraham Accords; Saudi sources: Saudi Arabias position remains unchanged. 5. According to Axios: A senior US official revealed that the Trump administration will support Israel in intensifying its military strikes against Hezbollah. 6. Israel Defense Forces: On Monday, they struck more than 70 Hezbollah infrastructure targets in Lebanon, using approximately 85 rounds of ammunition to eliminate the threat.On May 26, the Financial Times reported that the EU ambassador to Kyiv, facing the latest threats from Russia, stated that she and other diplomats were "not going anywhere!" "What Russia wants is fear, panic, and the isolation of Ukraine. This will not succeed." The report stated that several other embassies, including those of G7 countries, confirmed that ambassadors and diplomats remain in Kyiv and have not evacuated.On May 26, Al Jazeera reported on May 25 that a source familiar with the talks between the high-level Iranian delegation in Doha stated that, with Qatars mediation, the United States and Iran have reached an understanding on the issue of frozen Iranian financial assets. The source said that because the frozen financial assets are crucial to Iran, the two sides are "very likely" to announce an agreement tomorrow.Maximo Pacheco, chairman of Chiles state-owned copper company, announced his resignation.According to Al Arabiya, Ibrahim Aziz, chairman of the Iranian parliaments National Security Committee, said that any agreement between Iran and the United States would not mark the end of the confrontation between the two countries, and called the conflict "fundamental and existential" for Tehran.

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.