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On December 3, Iranian Parliament Speaker Mohammad Ghalibaf stated at a press conference in Tehran on December 2 that Iran supports diplomatic contact and negotiations on an equal footing. However, in previous negotiations, the United States did not address the issues but instead imposed its own demands on Iran, forcing it to surrender. Ghalibaf pointed out that the United States demanded that Iran reduce its missile range, but Irans self-defense was "non-negotiable" and it was impossible for Iran to accept this demand. He said that Europe, under direct orders from the United States, activated the "snapback" sanctions mechanism, failing to demonstrate its independent will. Due to its obedience to the United States, Europe no longer plays any role in the Iranian nuclear issue. Irans suspension of cooperation with the International Atomic Energy Agency was the "most important and accurate" decision.December 3 - Crude oil prices fell in early Asian trading after a volatile day, with ANZ research analysts stating in a commentary that geopolitical tensions disrupted the market. The analysts pointed out that, on the one hand, US envoy Witkov arrived in Moscow to meet with Russian President Putin to begin discussions on a potential peace agreement. On the other hand, tensions escalated again after Putin threatened retaliatory measures against ships aiding Ukraine.According to futures news on December 3rd, as of the week ending November 29th, Japans commercial crude oil inventories increased by 1,019,992 kiloliters from the previous week to 11,021,410 kiloliters. Japans gasoline inventories decreased by 79,425 kiloliters from the previous week to 1,674,675 kiloliters. Japans kerosene inventories decreased by 48,655 kiloliters from the previous week to 2,349,553 kiloliters. The average operating rate of Japanese refineries was 84.6%, compared to 86.5% the previous week.On December 3rd, the overnight SHIBOR was 1.3010%, down 0.10 basis points; the 7-day SHIBOR was 1.4260%, down 0.80 basis points; and the 14-day SHIBOR was 1.4650%, unchanged from the previous trading day. The 1-month SHIBOR was 1.5200%, up 0.10 basis points; and the 3-month SHIBOR was 1.5800%, unchanged from the previous trading day.Fitch: Local government debt in Australia and New Zealand is rising, but fiscal stability remains.

As focus shifts to RBA policy, the AUD/NZD crosses 1.120

Alina Haynes

Jul 29, 2022 10:54

 截屏2022-07-29 上午9.50.25.png

 

After turning around at the crucial support level of 1.1100 on Thursday, the AUD/NZD pair has since moved sideways. The narrow consolidation range between 1.1105 and 1.1119, which was created during the Asian session, has been violated by the cross. The Reserve Bank of Australia is expected to increase interest rates by 50 basis points (bps) for the second time in a row (RBA).

 

The RBA will review the Official Cash Rate at its upcoming monthly monetary policy meeting (OCR). According to a Reuters poll, RBA Governor Philip Lowe will increase the OCR for the third time in a row by 50 basis points. The OCR will rise to 1.85 percent as a result. Policy tightening is required in view of the growing pricing pressures in the Australian economy. In the second quarter of CY2022, the Australian Consumer Price Index (CPI) increased to 6.1 percent.

 

The inflation rate was higher than the prior measurement of 5.1 percent even though it remained 10 basis points below the consensus. By the end of September, the cash rate is predicted by 19 of the 31 economists surveyed by Reuters who have a long-term perspective on rates to be at 2.35 percent or higher. This raises the possibility of the expected fourth consecutive rate rise of 50 basis points.

 

Kiwi bulls in New Zealand have not benefited from rising ANZ- Roy Morgan Consumer Confidence statistics. The qualitative data now stands at 81.9, an increase over the prior report's 80.5. The labor market figures for New Zealand will be released next week, which is crucial.


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