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According to the official measurement of the China Earthquake Networks Center, a 3.2-magnitude earthquake occurred in Kuqa City, Aksu Prefecture, Xinjiang (41.18 degrees north latitude, 83.72 degrees east longitude) at 01:12 on August 9, with a focal depth of 16 kilometers.Market news: The commander of U.S. Central Command has arrived in Israel and will hold talks with senior Israeli military officials.On August 9th, U.S. Vice President JD Vance stated in a Fox News interview broadcast on Saturday that "we are in a game" regarding Iran. "We are using all the tools at our disposal—diplomatic, economic, military—to ensure the best possible outcome for the American people," he said. He indicated that some progress had been made in the Iran negotiations over the past few days. The U.S. expects oil and gas exports from the Gulf region to return to pre-conflict levels, "and the Iranians have indicated to us that they intend to do so," he said.Federal Reserve Governor Bowman will participate in a fireside chat in ten minutes.On August 9th, it was reported that the Trump administration is intensifying pressure on Florida oil tycoon and Republican donor Harry Sargent III to divest his assets in Venezuela. According to sources, the U.S. Treasury Department froze assets of Sargents offshore company involved in Venezuelan oil production projects on Friday. Simultaneously, the Treasury Department has issued a license allowing him to liquidate his stake in the company. Sargent served as a key secret communication channel between Washington and Caracas during years of heightened tensions between the U.S. and Venezuela, accumulating significant influence on both sides. He frequently visited Trumps Mar-a-Lago resort and the Venezuelan presidential palace, regularly meeting with former President Maduro and other high-ranking officials detained by the U.S. military. He used this special channel to relay information between the U.S. and Venezuela and helped facilitate the release of detained U.S. citizens in 2025. Simultaneously, he also developed deals in Venezuela, a country most oil companies avoid due to political risks and sanctions.

AUD/NZD falls 60 pips as RBNZ meets market expectations for a 50 bps rate hike

Alina Haynes

Feb 22, 2023 15:18

As the Reserve Bank of New Zealand (RBNZ) issued its much awaited interest rate decision early Wednesday morning in Europe, the AUD/NZD pair dropped almost 60 pips to 1.0980. In doing so, the cross-currency pair disregards geopolitical concerns regarding China and North Korea, as well as concerns of a less aggressive RBNZ response in the wake of natural disasters in New Zealand.

 

In spite of this, the RBNZ announced its eleventh rate hike as officials attempt to control inflation fears, increasing the benchmark rate by 0.50 percentage points to 4.75 percent, for a total increase of 1.50 percentage points. In the quarterly Rate Announcement that followed the RBNZ's decision, it was said, "There are early signs of pricing pressures abating." The same should apply to the AUD/NZD currency pair bearish.

 

Other from this, the most notable market sentiment detractors were the remarks of US Secretary of State Antony Blinken and Russian President Vladimir Putin. Notwithstanding this, US Secretary of State Blinken indicated that the United States fears China may provide military help to Russia. Similarities exist between the market issues of the U.S.-Taiwan trade agreement. Russia terminated its nuclear arms agreement with the United States and pledged to maintain its military presence in Ukraine.

 

Meanwhile on Tuesday, Russian President Vladimir Putin addressed both houses of parliament in his state of the nation address to the Russian Federal Assembly. During the speech, Russian President Putin emphasized the geopolitical turmoil surrounding Ukraine by stating, "Our mission is to drive our economy to new horizons." Similarly, US Deputy Treasury Secretary Wally Adeyemo indicated on Tuesday, "The United States and its partners will apply additional sanctions this week to continue isolating Russia over the conflict in Ukraine."

 

US 10-year and 2-year Treasury note rates fluctuate near the three-month highs achieved the day before, while S&P 500 Futures record moderate gains despite Wall Street's negative closing price.

 

After monitoring the first reaction to the RBNZ's announcement, AUD/NZD pair traders should focus on risk triggers, particularly those pertaining to China and Russia, to determine the pair's direction. If geopolitical concerns continue to threaten market optimism, the price may continue to decrease.



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