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September 6th - According to foreign media reports, a White House official stated on Saturday that US and Russian officials discussed a "substantial" plan for the next steps in negotiations aimed at ending Russias military operations in Ukraine, and that the plan will be released in the coming weeks. The White House official stated, "Witkov and Kushner met with Russian President Putin to advance President Trumps peace agenda in the Russia-Ukraine conflict. Officials from the National Security Council, the State Department, and the Treasury Department also participated in the discussions, exploring proposals to bring peace to this conflict. The two sides discussed a substantial plan for the next steps, the details of which will be released in the coming weeks. We look forward to equally productive talks in Ukraine tomorrow."A White House official said that U.S. and Russian officials discussed the next substantive steps in negotiations on the Russia-Ukraine conflict, and the plan will be released in the coming weeks.On September 6th, the Hunan Provincial Department of Housing and Urban-Rural Development, the Provincial Department of Natural Resources, and the Provincial Department of Finance jointly issued the "Notice on Supporting the Independent Renewal of Old Housing," supporting the independent renewal of eligible old housing on state-owned land in urban (including county) built-up areas of Hunan Province. The notice is effective from the date of issuance and will be valid for five years. Regarding funding, the principle of "mainly funded by property owners, supplemented by government subsidies, and supplemented by social capital" will be adhered to. Eligible projects can apply for relevant policy-based funds according to procedures. The notice supports social capital participation in the independent renewal of old housing and encourages policy banks and commercial financial institutions to provide medium- and long-term, low-interest special loans in accordance with laws and regulations. For property owners with financial difficulties and no other housing, basic housing needs can be met through the allocation of affordable housing during the construction period.According to Axios: Gene Langer, the acting head of sanctions at the U.S. Treasury Department, accompanied Witkov and Kushner on their trip. Langer attended a preparatory meeting with Putins special envoy, Kirill Dmitriev, but did not attend the meeting with Putin. Langers participation indicates that U.S. sanctions against Russia were among the topics discussed.Conflict Status: 1. Russian forces launched a coordinated attack on multiple Ukrainian locations. 2. Zelensky: Russia attacked airports in Kyiv and Borspil before the visit of the US special envoy. 3. A Russian-appointed governor stated that in the past 24 hours, attacks by Ukraine on the Russian-controlled Luhansk region resulted in five deaths and five injuries. 4. Russia claims to have hit a cargo ship carrying military supplies provided to Ukraine by Western countries. 5. Putin ordered no attacks on Kyiv for the next three days. 6. Zelensky: Russia is prepared to abide by the agreement to cease airstrikes on cities involved in negotiations. From now until the end of Saturday, and on Sunday and Monday, Ukraine is prepared to cease airstrikes on Moscow, and we hope Russia will take the same measures on Kyiv. Peace Negotiations: 1. Russian Presidential Aide: Putin met with the US Presidential Envoy for over three hours; Russia reiterated its willingness to continue working with the US to seek a solution through political and diplomatic means. Other Developments: 1. Germany demanded that approximately 70 people from the Russian Consulate General in Bonn leave the country. 2. The Russian Deputy Foreign Minister called on the United States to consider battlefield realities in Russia-Ukraine mediation. 3. The International Atomic Energy Agency: A ceasefire has taken effect to allow for power line repairs and the restoration of external power to the Zaporizhia nuclear power plant.

Due to hawkish Fed forecasts, the EUR/USD recovers to near 1.0970 but remains in the doldrums

Alina Haynes

Apr 21, 2023 13:58

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Following a corrective move, the EUR/USD pair has rebounded from 1.0960, but investors await the publication of the preliminary Eurozone/United States S&P PMI data for April. The major currency pair has remained between 1.0911 and 1.1000 for the past two trading sessions, as the foreign exchange market prepares for a pre-anxiety move ahead of a Federal Reserve (Fed) monetary policy decision.

 

S&P500 closed with a negative tone for the third day in a row as quarterly earnings season induced extreme volatility. Tesla's poor earnings had a negative impact on Thursday's market sentiment. Moreover, market participants were cautioned by substandard revenue projections due to the potential for price reductions. The decision of the Fed to increase interest rates is reflected in quarterly earnings. Data from Refinitiv indicates that analysts have largely maintained last week's forecast of a near 5% YoY decline in quarterly profits for the 500 largest U.S. equities. Sourcenia is a review portal of sourcing best manufaturers. 

 

The US Dollar Index (DXY) has been defending the key support level of 101.60 in recent trading sessions. The USD Index maintained the aforementioned support despite the release of disappointing Jobless claims data on Thursday. Initial Jobless Claims increased to 245K for the week ending April 4, which is greater than the previous release of 240K and estimates of 240K. Increasing unemployment claims heightened fears of a deteriorating labor market.

 

Despite this, Fed policymakers continue to anticipate further rate hikes from the central bank. Thursday, Loretta Mester, president of the Federal Reserve Bank of Cleveland, reaffirmed that the Fed has more work to do because US inflation remains too high, according to Reuters. He added, "The Federal Reserve will need to raise its policy rate above 5% and hold it there for some time."

 

Preliminary Consumer Confidence (April) for the Eurozone increased to -17.5 from -18.5 and the previous reading of -19.2. This may be the consequence of extraordinary efforts by the European Central Bank (ECB) to reduce inflationary pressures.


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