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On September 6, Russian Presidential Aide Ushakov said early on the 6th that President Putins meeting with US President Trumps special envoy Witkov and son-in-law Jared Kushner at the Kremlin on the evening of the 5th lasted more than three hours and was substantive and "constructive." Ushakov said that the Russian side made a clear and comprehensive assessment of the current situation, including the situation developing during the special military operation. In particular, the Russian side pointed out the actual progress made by the Russian army in the theater of operations and expressed confidence in achieving its established objectives, while also emphasizing the necessity of eliminating all the root causes of the conflict. Ushakov stated that Russia reiterated its willingness to continue working with the US to seek a solution through political and diplomatic means. Both sides confirmed that the two presidents will continue to maintain direct contact.Russian Presidential Aide Ushakov: Putin is prepared to cooperate with the United States to seek a diplomatic solution to the Russia-Ukraine issue.September 6 - According to the Islamic Republic News Agency (IRNA), the public relations department of the Iranian Islamic Revolutionary Guard Corps issued a statement on September 5 denying that the Isfahan nuclear technology center and nuclear facilities had been attacked, calling the related reports purely fabricated. The statement said that spreading such content during the current sensitive situation is an attempt by hostile forces to create tension, disrupt public opinion, and incite public panic.September 6 - According to Irans Fars News Agency, a deputy political official of the Iranian Revolutionary Guard Navy stated that in the 10 days leading up to August 30, Iranian naval forces were "punishing" two to five "violations" of regulations every night in the Strait of Hormuz. The official added that the US attacks "did not cause the slightest disruption to Irans control in the region."On September 6th, Israeli public radio reported on the 5th that the Israeli military is preparing to partially withdraw from southern Lebanon and plans to establish a smaller "safe zone" along the Lebanese-Israeli border. The report stated that the Israeli military recently completed the destruction of Hezbollah tunnels beneath the Ali Tahir heights in the Nabatayah region of southern Lebanon, subsequently formulating the aforementioned relocation plan. Israeli security officials said that under the new plan, the Israeli military will withdraw to a position closer to the Lebanese-Israeli border, reducing the depth of its controlled area in southern Lebanon from the current approximately 10 kilometers to 3-4 kilometers. The new deployment line, referred to as the "grey line," will replace the current "yellow line."

Below 0.6350, AUD/USD draws bids; the downside is preferred before US CPI

Alina Haynes

Oct 10, 2022 11:30

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The AUD/USD pair has risen after dropping below immediate support near 0.6350 during the Asian session. Given that the market attitude is still unfavorable, the asset's outlook does not appear positive. The S&P 500 fell into a trance as a result of Friday's positive US Nonfarm Payrolls (NFP) numbers, which extended the US dollar index's (DXY) recovery.

 

At 112.88, the DXY in Tokyo has eclipsed the previous week's high and is expected to continue to rise as hawkish Federal Reserve (Fed) policy bets soar. The US NFP came in at 263k on Friday, more than the 250k forecast. Due to this, there is now a higher chance that interest rates will rise for a fourth consecutive time by 75 basis points (bps). A healthy labor market and stronger economic fundamentals are always required for the central bank to safely announce rate increases.

 

Rates have increased as the likelihood of a 75 basis point rate increase has increased. The yield on the US 10-year Treasury bond reached 3.9% and increased for four straight days.

 

Investors' attention will then turn to the publication of US Consumer Price Index (CPI) data on Thursday. Preliminary predictions indicate that headline inflation will drop from 8.5% to 8.1%. The core CPI, which does not include prices for food and energy, will rise from 6.3% to 6.5%. The Federal Reserve's decision to raise interest rates seems to be having little impact, but the drop in gas prices has started to have an impact on the headline inflation rate.

 

The consumer inflation expectations statistics are expected to be released later this week, according to the Australian bulls. The economic statistics are projected to increase to 5.8% from the previous report's 5.4%. This could encourage the Reserve Bank of Australia to act (RBA). The Official Cash Rate (OCR) was raised by 25 basis points to 2.6% by Reserve Bank of Australia (RBA) Governor Philip Lowe, and he plans to continue raising it until it reaches the desired level of 3.0%.

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