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On September 6th, local time, Russian President Vladimir Putin held talks with visiting US Presidential Envoys Witkov and Jared Kushner on the evening of September 5th. The talks lasted approximately three hours. Putin stated that Russia had received a request through its intelligence and diplomatic departments to "cease airstrikes on the Ukrainian capital, Kyiv," and that he had issued orders to halt Russian airstrikes on Kyiv. Putin also mentioned that Ukraine had significantly reduced its attacks on Russian territory (including Moscow). Putin further noted that Ukraine had proposed a broader three-day ceasefire, which Russia had not agreed to. However, Russia will make every effort to ensure the progress of US-Ukraine negotiations and the safety of negotiators. Earlier that day, Russian Presidential Press Secretary Dmitry Peskov confirmed that Putin had ordered a three-day halt to airstrikes on Kyiv. Ukrainian President Volodymyr Zelenskyy subsequently announced a decision to cease attacks on Moscow immediately until September 7th.According to Al Jazeera: Israeli forces attacked the outskirts of the town of Rafid in southern Syria.Russian Presidential Aide Dmitriev: (Regarding the US Special Envoys visit to Moscow) An important peace mediation visit.On September 6th, German startup Isar Aerospaces "Spectrum" rocket lifted off from a launch site in Norway, aiming to complete the companys first commercial space mission to reach orbit from the European continent. The rocket, carrying a payload including five small satellites, entered orbit approximately four minutes after liftoff. This was Isars second launch attempt this year, following multiple delays due to weather, technical issues, and interference from an out-of-control vessel. The 28-meter-tall rocket can deliver a 1,000-kilogram payload to low Earth orbit, significantly smaller than SpaceXs rockets. Isar CEO Daniel Metzler, speaking at the companys €270 million ($313 million) funding round earlier this year, stated that the rockets size helps in placing satellites into specific orbits and differentiates it from SpaceXs offerings.Official footage shows that Isars unmanned space rocket has been launched from its base in Norway.

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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