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SK Hynix: Will issue new shares at 2.25 million won per share. ADR underwriting commission is 389 billion won.1. The governor of Rostov Oblast, Russia, stated that two oil tankers were attacked by drones in the Sea of Azov. 2. The Russian Federal Security Service (FSB) stated that it has successfully thwarted a series of large-scale terrorist attacks targeting Russian Ministry of Defense military infrastructure and officers, including operations involving drone strikes. 3. The Ukrainian military stated that it struck 12 Russian oil tankers, one tugboat, and one cargo ship in the Sea of Azov. 4. Sources say that Putin rejected calls for peace talks, potentially escalating the war in Ukraine. 5. Russian Foreign Minister Lavrov stated that Russia no longer believes the West is willing to negotiate. 6. The Italian Foreign Ministry stated that Italy has expelled two military attachés from the Russian embassy in Rome. 7. The Kremlin stated that it has no illusions about the US granting Ukraine permission to produce Patriot missiles.On July 10th, Israeli Prime Minister Benjamin Netanyahu stated on the 9th that Israel will "not allow" Iran to acquire nuclear weapons, regardless of whether the United States and Iran reach an agreement. Simultaneously, Israel plans to increase its defense budget over the next 10 years, focusing on developing its air force and domestic defense industry. He announced an additional 350 billion shekels (approximately US$117.7 billion) to the defense budget over the next 10 years, a significant portion of which will be used for air force development, while simultaneously developing the domestic defense industry to reduce reliance on overseas procurement.SK Hynix plans to raise 40 trillion won in its ADR listing, up from 43 trillion won previously.On July 10, Sun Lei, China’s Deputy Permanent Representative to the United Nations, spoke at the Security Council’s review of the Ukraine issue on July 9, urging the parties involved to remain calm and exercise restraint, make every effort to de-escalate the situation, and create conditions for an early ceasefire and end to the war.

AUD/USD is stuck at 0.6900 and is unwilling to move

Daniel Rogers

Jul 20, 2022 11:56

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Phillip Lowe, the governor of the Reserve Bank of Australia, is now on the record saying that a hike in the cash rate is coming soon. The AUD/USD exchange rate is frozen at 0.69 as traders look for any hint from the governor of a 75 bp hike. However, so far in the speech, there has been no mention of such an increase.

 

The RBA said in its minutes that it is prepared for additional monetary tightening to go along with its most recent unexpectedly large rate increase, and officials vowed to continue to be steadfast in their fight against skyrocketing inflation. This led to an increase in the Australian dollar on Tuesday. In light of the tight labor market and impending inflation, the board noted that current interest rates were "still reasonably modest."

 

The governor brought up the most recent job statistics, which were released last week. According to this, Australia's net employment rose by 88,400 from May to June, which was more than three times the market expectation of a 30,000 rise. At the same time, the jobless rate decreased to a 48-year low of 3.5 percent. The Australian dollar is anticipated to appreciate along with threats from rising global inflation.