• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 23, Rezaei, Secretary of Irans Supreme National Security Council, warned Gulf states against joining the US-imposed economic sanctions against Iran, stating that Tehran would retaliate against these countries interests. "If Irans neighbors join the US economic war, the Persian Gulf and the Strait of Hormuz will be completely depleted of oil, and we will also target other oil export routes in the Persian Gulf," he said. Rezaei also claimed that Trump launched the economic war against Iran at the urging of Israeli Prime Minister Netanyahu. He said Trump was initially skeptical of the idea, but Netanyahu persuaded him to test it for two to three months before assessing whether to continue for another six months. "What the enemy hopes for is division and discord," he reiterated, emphasizing Irans unity.According to Al Jazeera, sources familiar with the matter said that Pakistan’s first Chief of Defence Forces, Asim Munir, is expected to return to Tehran in the coming days.A 5.9-magnitude earthquake struck southern Ibaraki Prefecture, Japan, early on the 23rd. No abnormalities have been detected at several nuclear facilities near the epicenter. NHK, citing power company sources, reported that no abnormalities have been detected at the Fukushima Daiichi, Tokai, and Tokai Daini nuclear power plants, all located near the epicenter, and radiation monitoring readings around the plants have not shown significant changes.On August 23, it was reported that price competition for large-scale AI models has intensified recently, with several US AI companies lowering prices for their models. OpenAI, the US-based Open AI Research Center, announced on the 21st that it would reduce the base price of its cutting-edge GPT-5.6 Sol model for developers by over 20%, effective immediately. This discounted price will be valid for three months. At the end of last month, OpenAI also lowered the prices of other models, with mid-range models reduced by 20% and low-cost models by 80%. Furthermore, Google, a subsidiary of Alphabet, recently released Gemini 3.7 Flash and simultaneously lowered its price, making it approximately half the price of the previous version. Some US media analysts believe that the increasingly fierce price competition for large-scale AI models, particularly the open-source and pricing strategies of some Chinese AI companies, has put pressure on US companies.The statement indicates that Canadian Prime Minister Mark Carney held a video conference with provincial and territorial leaders to discuss suspending trade negotiations with the United States. Carney outlined next steps to protect Canadian interests, including retaliatory tariffs that will take effect on Tuesday after Labour Day.

NZD/USD finds support near 0.6220; a decline appears more probable due to China's Covid concerns

Alina Haynes

Nov 28, 2022 15:04

 截屏2022-11-28 上午10.39.08.png

 

China's anti-Covid shutdown protests have weakened commodity-linked currencies, resulting in a gap-down start of roughly 0.6220 for the NZD/USD pair. During the previous week, the New Zealand dollar dropped after failing to surpass the round-level barrier of 0.6300.

 

Individuals have taken to the streets in China to demonstrate their opposition against the zero-tolerance policy, leading to a rise in civil unrest. Due to Chinese leader Xi Jinping's conservative posture and authoritarian framework, global markets have become more risk-averse. This has created an economic expansion risk and may worsen the already shaky housing market. Increasing apprehensions about societal risks may also result in political instability, which may have long-lasting detrimental effects on economic structure.

 

Notably, New Zealand is one of China's most important trading partners, and instability in China could damage the New Zealand Dollar.

 

In the meantime, the US Dollar Index (DXY) is profiting from investors' liquidity as the demand for safe-haven assets surges. The USD Index is hovering around 106.20 and attempting to reduce volatility as China's anti-locking protests restrict the upside and predictions of a slowdown in the Federal Reserve's larger rate hike cycle limit the downside (Fed).

 

S&P500 futures are under heavy pressure from market players due to a risk-averse market mentality. In anticipation of Fed chief Jerome Powell's address on Wednesday, yields on 10-year US Treasuries have decreased to approximately 3.68 percent. The Fed Chair's speech could dispel suspicions about a pause to the Fed's current rate-hiking program.