EUR/USD 1.15678

USD/JPY 159.356

GBP/USD 1.35343

GBP/JPY 215.682

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According to Saudi Arabias Al Arabiya TV, the Saudi Civil Defense announced that the danger alert for the Jizan region has been lifted after the early warning system was activated.On August 16th, according to the WeChat Coral Security official account, WeChat recently released an announcement regarding the handling of illegal short dramas (July 2026). In accordance with the deployment requirements of the State Administration of Radio and Television and the Guangdong Provincial Radio and Television Bureau, the platform has continuously strengthened its inspection and review of vulgar and harmful short dramas and the operation and management of illegal and infringing short drama mini-programs. The platform also continues to standardize the management standards, creation requirements, and dissemination order of live-action short dramas, other animated short dramas, and AI live-action short dramas to effectively protect user rights and the physical and mental health of minors. Recently, through inspection and review, the platform discovered that some short dramas contained content with negative value orientations or infringing behaviors. In accordance with relevant national laws and regulations and the relevant provisions of the "Tencent WeChat Software License Service Agreement" and the "WeChat Mini-Program Operation Specifications," the platform removed dozens of illegal short dramas, including some with incorrect value orientations and poorly made content. At the same time, the platform also dealt with mini-programs with violations.Air raid sirens have been activated in the Jizan region, according to the Saudi official news agency. This comes after Irans Tasnim News Agency reported that an explosion was heard near the Jizan oil refinery in Saudi Arabia.On August 16, Abbas Goudarzi, spokesman for the Iranian Parliaments Presidium, announced that the Iranian Parliament had passed an anti-infiltration bill to counter infiltration by enemy intelligence agencies and foreign governments or institutions. According to reports, Hassan Kashkawi, spokesman for the Iranian Parliaments National Security and Foreign Policy Committee, said while introducing the bill that Iran already has laws against espionage, but there was a legal gap regarding anti-infiltration, and this bill aims to fill that gap.Israels economy rebounded in the second quarter, recovering from the economic contraction triggered by the military action against Iran. Data released Sunday by Israels Central Bureau of Statistics showed that seasonally adjusted GDP grew at an annualized rate of 15.4% in the second quarter, exceeding the median forecast of 8.3% from eight economists surveyed by Bloomberg. First-quarter GDP was revised to contract by 2.2%. Exports of goods and services led the growth, increasing by 35.2%; government consumption rose by 19.5%, private consumption by 14.7%, and fixed capital formation by 6.3%. Yonie Fanning, chief strategist at Mizrahi-Tfahot Bank, said in a telephone interview before the data release that the Israeli economy is expected to experience a "rapid recovery" after the economic contraction caused by the conflict with Iran. He stated that consumer spending, including on durable goods, is expected to be a key driver of the economic rebound.

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

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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.