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On April 25, Ukrainian President Volodymyr Zelenskyy announced via social media that Russian forces had been conducting strikes against Dnipropetrov and other Ukrainian cities and communities from the evening of April 24 to the early morning of April 25. As of now, the total number of injured across Ukraine has exceeded 30, with casualties reported in Chernihiv, Odessa, and Kharkiv regions, and four deaths. Zelenskyy stated that Russia primarily used attack drones, cruise missiles, and a large number of ballistic missiles, targeting residential buildings, energy facilities, and businesses. Furthermore, Zelenskyy stated that Ukraine must push for the 21st round of European sanctions against Russia. Ukraine has already begun discussions with the EU team regarding possible new sanctions, with the core objective of significantly limiting the capabilities of Russias military industry.On April 25th, DeepRoute.com held a technology launch event at the Beijing Auto Show. CEO Zhou Guang stated that the companys multimodal large-model capabilities will achieve a breakthrough by early 2026. The starting point for large-model autonomous driving is far superior to the previous generation of technology. Small-model autonomous driving suffers from a "seesaw effect," failing to achieve full-scenario safety coverage. The company has fully shifted to the large-model approach, aiming to achieve 1,000-kilometer MPCI this year. At the launch event, Ruan Chong, former core researcher of multimodal technology at DeepSeek, made his first public appearance as Chief Scientist of DeepRoute.com. Ruan Chong stated that the company is moving from multiple small models to a unified base large-model architecture, further dividing it into three more specific models: driving, analysis, and evaluation. Currently, the single model iteration cycle has been reduced from over 100 hours to over 10 hours.April 25 - According to Iranian media reports on the 25th, Imam Khomeini International Airport in Tehran, the capital of Iran, resumed operations that day, with passengers traveling to Medina in Saudi Arabia, Muscat in Oman, and Istanbul in Turkey.Ukrainian President Zelensky: Russia’s nighttime attack on Ukraine has killed four people and injured more than 30.On April 25th, the EU announced its 20th round of sanctions against Russia on April 23rd, adding 36 new restrictions on oil exploration, extraction, refining, and transportation. On the same day, the EU also approved a new €90 billion loan to Ukraine. In response, Russian Foreign Ministry spokeswoman Maria Zakharova stated at her weekly press conference on April 24th that Russia would retaliate severely against the EU sanctions, arguing that the EU, currently facing energy pressures, would only suffer the consequences of its own sanctions against Russia. Furthermore, she added that the EUs loan to Ukraine would further exacerbate the EUs own debt burden.

AUD/USD falls approaching 0.7200 despite the former RBA governor's aggressive forecasts

Alina Haynes

Jun 08, 2022 11:59

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Bears and buyers continue to fight for position around 0.7220-25 as sentiment is mixed and investors remain cautious ahead of the week's big data/events. In doing so, the Australian duo struggles to defend the hawkish remarks of former Reserve Bank of Australia (RBA) Governor Ian Macfarlane.

 

Ex-RBA Governor Macfarlane warned early Wednesday morning about chronically rising inflation and the need to drastically increase interest rates. The former policymaker also stated, "There is sufficient scarcity in Australia and the United States to maintain a high inflation rate."

 

In contrast, China's Vice Commerce Minister Wang Shouwen joined China's Vice Finance Minister Zou Jiayi in reiterating concerns about a global economic downturn and a decline in demand. Recent consensus among policymakers held that the rise of global demand is slowing.

 

It's worth noting that a rebound in US Treasury rates and apprehension ahead of Thursday's European Central Bank (ECB) meeting, as well as Friday's US Consumer Price Index (CPI) for May, tend to stifle the AUD/USD pair's movements.

 

In spite of this, 10-year US Treasury note rates jump two basis points (bps) to 2.99 percent the day after breaking a six-day downward trend. A record decline in the US trade deficit and optimism on the US budget appear to have prompted a recall of US Treasury bond sellers. The US trade deficit for April decreased 19.1 percent from the previous day to USD87.1 billion.

 

Other market optimists were defended by US Treasury Secretary Janet Yellen and optimism for a quicker economic rebound in China. Tuesday, US Treasury Secretary Yellen spoke before the Senate Finance Committee about the Fiscal Year 2023 Budget while stating that the US economy faced problems from "unsustainable levels of inflation" and supply chain disruptions. The official said, "An adequate budget is necessary to support the Fed's efforts to control inflation without damaging the labor market."

 

It should be noted that World Bank (WB) President David Malpass's warning that faster-than-anticipated tightening might force certain nations into a debt crisis akin to that of the 1980s appears to have impacted on the quotation as of late. The risk-negative news from Ukraine may follow a similar trajectory. Politico reported that Ukraine has not yet achieved a deal with Russia or Turkey to enable the safe passage of its grain ships in the Black Sea, casting doubt on a U.N. initiative to build a crucial food corridor.

Technical Evaluation

A two-week-old support line protects AUD/USD buyers at 0.7205. However, the 200-day moving average and the recent top, located around 0.7255 and 0.7285, may challenge the Aussie pair's upside before the bulls regain control.


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