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August 15th - According to the Financial Times, Kyivs air defense forces were almost helpless in the face of a recent round of Russian ballistic missile attacks. The reason is simple: their Patriot missile defense systems ran out of interceptor missiles. This severe shortage of the only weapon capable of intercepting Russian ballistic missiles launched at Ukraine is exposing a critical vulnerability in Ukraines air defense system. As Moscow intensifies its offensive ahead of winter, the pressure on Ukraines air defense is further escalating. Ukrainian officials stated that the limited number of interceptor missiles supplied by the United States has been exhausted in recent weeks. Russia launched a missile attack on Kyiv on August 5th, followed by a second attack three days later. In both attacks, Ukraine failed to intercept any incoming ballistic missiles. Ukrainian officials revealed that due to the increasingly serious shortage of interceptor missiles, the Ukrainian Air Force has stopped routinely publishing the number of missiles launched by Russia to avoid revealing the number of missiles it failed to intercept.August 15th - According to the website of the China Maritime Safety Administration, the Jiangmen Maritime Safety Administration issued a navigation warning stating that military training will be conducted in parts of the South China Sea from 00:00 to 12:00 daily from August 16th to 17th, and entry is prohibited.Russian Foreign Ministry: The potential US and Turkish arms supply plans to Kyiv would weaken Moscow’s relations with Washington and Ankara.Russian Foreign Ministry: A spokesperson for the Russian Foreign Ministry stated that the US and Turkey have been asked to explain their reported plans to provide weapons to Kyiv.On August 15, local time, Iranian Foreign Ministry spokesman Bagaei said that despite US obstruction, talks between Iran and Oman are progressing actively, and the two sides have reached an agreement on a navigation scheme for the Strait of Hormuz.

The EUR/USD rise is getting close to 1.0200 as investors await US inflation data

Daniel Rogers

Aug 09, 2022 14:58

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The EUR/USD moves in the 1.0200 range during Tuesday's Asian session after falling from 1.0221 as traders look for fresh data. The major currency pair gained over the first part of the week but lost some of those gains by Monday's close. Recent price fluctuations, however, seem to be constrained by a lack of noteworthy data or events and a cautious attitude ahead of Wednesday's release of the US Consumer Price Index (CPI) for July.

 

Gains in the EUR/USD the day before are shown by higher readings of the Eurozone Sentix Investor Confidence Index and a drop in US Treasury yields. The primary sentiment indicator Index, however, increased in August from -26.4 to -25.2, which was projected to be the value. According to specifics, the eurozone's present state has improved from this month's lowest position since March 2021, when it was -16.5, to -16.3. The expectations index is at its lowest level since December 2008, despite a little increase to -33.8. It is still very close to that level. The US Dollar Index (DXY), in contrast, saw a daily decrease of 0.19 percent to 106.37.

 

The moderate Azione's resignation from the newly formed alliance ahead of the September elections looks to have put negative pressure on the Euro elsewhere due to Italian political worries.

 

The moderate Azione has backed out of its coalition with the Democratic Party and the +Europe party after only agreeing to do so last week. According to party leader Carlo Calendar, "the parts didn't fit." According to Reuters and Market News Publishing US, the alliance was formed in an effort to stop a more conservative government from taking office after the election on September 25.

 

Notably, gains in the EUR/USD the day before appeared to have been constrained by US President Joe Biden's displeasure of China's efforts to retake Taiwan and his censure of House Speaker Nancy Pelosi's trip to Taipei.

 

These actions caused the 10-year US Treasury rates, which had increased by 14 basis points (bps) the day before, to fall by around seven basis points (bps) to 2.75 percent. Wall Street also started Monday's trading day on a positive one before ending on a mixed note, albeit as of press time, S&P 500 Futures are showing minor gains.

 

Participants in the EUR/USD market may be interested in the second quarter's (Q2) US Nonfarm Productivity and Unit Labor Costs data. Forecasts suggest that US Nonfarm Productivity may rise to -4.6% from -7.3%, while Unit Labor Costs may decrease to 9.5% from 12.6%. The news regarding Taiwan and Russia will also be important for determining direction.


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