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On January 10th, Trump stated on social media that mortgage rates have now dropped to 5.7%! He explained that mortgage costs during Bidens presidency were extremely high (approximately 8%), making homeownership unaffordable for almost any young family. Through his housing affordability policies and after authorizing Fannie Mae and Freddie Mac to use cash to purchase $200 billion in mortgage-backed securities, mortgage rates have fallen to 5.7%. This is a significant benefit for American families, providing substantial relief. He emphasized that they are lowering housing costs and putting Americans first!Conflict Status: 1. Ukraine claims Russian drones launched a large-scale airstrike on Kyiv. 2. Ukrainian Air Force: Russia launched a hypersonic medium-range ballistic missile from Kapustin Yar. 3. Russia launched 36 missiles and 242 drones at critical Ukrainian infrastructure in Fridays attacks. 4. Ukrainian President Zelensky: The Hazel missiles launched by Russia "clearly" approached the EU border. 5. Ukrainian officials: The Russian Hazel missiles that attacked Ukrainian facilities were not carrying warheads. 6. In retaliation for the attack on Putins residence, the Russian military used Hazel missiles to strike Ukraine. Peace Talks Status: 1. Ukrainian President Zelensky stated that Russia has no respect for the United States and all diplomatic means. 2. According to RIA Novosti: Four members of the Russian State Duma (lower house of parliament) were recently invited by the United States to Washington to hold talks with US lawmakers on the Ukraine issue and other matters. Other Status: 1. Trump stated his support for the sanctions bill against Russia. 2. German Chancellor: A European "multinational force" would need Russias consent to station troops in Ukraine. 3. The Ukrainian Embassy in the US stated that Ukrainian citizens were on board the Russian oil tanker detained by the US. 4. Ukraine awarded development rights for a large lithium mine to a close friend of Trump. 5. Zelenskyy signed a presidential decree reshuffling the members of the Ukrainian Supreme Command. 6. A NATO spokesperson stated that on Friday, NATO Secretary General Rutte and US Secretary of State Rubio spoke about the importance of the Arctic to NATOs shared security. 7. Zelenskyy stated that Trump should reach a free trade agreement with Ukraine.On January 10th, it was reported that a meeting of the Beijing Municipal Party Committees Leading Group for Education, Science and Technology Talent Work was held on the morning of January 9th. The meeting pointed out that building the Beijing (Beijing-Tianjin-Hebei) International Science and Technology Innovation Center is a major deployment made by the Party Central Committee with a view to powerfully supporting Chinas modernization through scientific and technological modernization. It is crucial to attach great importance to this, organically combining it with the coordinated development strategy of the Beijing-Tianjin-Hebei region and ensuring its alignment with the capital metropolitan area plan, further strengthening regional innovation collaboration, and striving to build a world-class source of scientific and technological innovation. Beijing should consciously leverage its radiating and driving role, taking a leading role in the construction of the international science and technology innovation center, strengthening the coordinated linkage of national strategic scientific and technological forces, improving the mechanism for the transformation of scientific and technological achievements, and increasing the efficiency and proportion of the transformation of scientific and technological achievements within the region. It is necessary to deepen cooperation between ministries and municipalities, and between central and local governments, proactively undertaking more major national science and technology projects, enhancing basic research capabilities, promoting the deep integration of scientific and technological innovation and industrial innovation, building a global innovation hub for artificial intelligence, cultivating a world-class pharmaceutical and health industry cluster, strengthening characteristic and advantageous industries, and seizing the commanding heights of future industries. A sound work promotion mechanism should be established, communication and coordination strengthened, and all tasks ensured to be implemented effectively.January 10th - According to a TASS report on the 9th, citing the press office of the Russian Northern Fleet, Tu-142MK anti-submarine aircraft belonging to the Northern Fleet recently completed aerial refueling over the Arctic, a first in Russian naval history. The report stated that several Tu-142MK anti-submarine aircraft conducted a special flight mission during a Russian naval exercise. The aircraft completed aerial refueling over the Arctic Ocean en route to a remote Arctic region, with a total flight time of approximately 30 hours. The Northern Fleet press office said that this flight mission confirmed the capabilities of the Tu-142MK anti-submarine aircraft and verified the feasibility of performing anti-submarine defense and surface surveillance missions in the Arctic region.U.S. Treasury Secretary Bessenter: Any tariff refunds could be rolled out gradually over weeks, months, or even a year.

The AUD/USD Finds Support Around 0.7500 As Attention Turns to Australia's Unemployment Rate

Drake Hampton

Apr 13, 2022 10:10

  • The AUD/USD currency pair has sensed a pullback from 0.7500 ahead of Australia's unemployment rate announcement.

  • Investors are shrugging off stronger US inflation data, but interest rates are poised for a modest increase.

  • Australia's preliminary unemployment rate of 3.9 percent signals outperformance.

 

After a good positive comeback from Tuesday's low of 0.7400, the AUD/USD pair has had a little retreat to about 0.7500. The major has recovered following Tuesday's publication of US inflation. Market participants anticipated an 8.5 percent increase in the US Consumer Price Index (CPI), which prompted some bids in the antipodean.

 

Inflation at a multidecade high and a greater participation rate in the US labor market point to a major rate hike in May's monetary policy. Price pressures on essential items are weighing on the US economy, as evidenced by the US CPI ex-food and energy's weak performance. Inflation in the United States, excluding food and energy, was recorded at 6.5 percent in a mid-market estimate and preceding number.

 

Earlier in the day, the asset fell substantially from last week's high of 0.7662 after the Reserve Bank of Australia (RBA) decided to maintain the current interest rate and take a 'wait and see' strategy. The RBA's monetary policy insights revealed that the government has not yet experienced any constructive price pressures capable of pushing interest rates higher.

 

Market investors will closely monitor the Australian Unemployment Rate, which is due on Thursday, for additional guidance. A early estimate of Australia's unemployment rate reveals a decrease to 3.9 percent from a previous reading of 4%.

AUD/USD

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