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According to Irans Tasnim News Agency on the 12th, the time, place, and plan for the next round of negotiations between Iran and the United States have not yet been announced.With the US-Iran talks concluded, US Vice President Vance has left Pakistan, and the Iranian delegation will also depart on the 12th.April 12 - According to Iranian sources early this morning, the Iran-US negotiations ended minutes earlier, with no agreement reached due to "US greed and ambition."April 12 - According to a report by Irans Tasnim News Agency citing a journalist, negotiations between Iran and the United States have ended without an agreement, with the United States excessive demands hindering the formation of a common framework and agreement.On April 12, Irans Tasnim News Agency reported that some Western media outlets have begun to make "inaccurate descriptions" of the atmosphere surrounding the Iran-US negotiations in Islamabad, as the United States has failed to achieve its objectives in the talks. The report stated that only the Iranian and US negotiating teams and Pakistani officials were present at the Serena Hotel, and no media were allowed entry. Therefore, reports of "fierce clashes in the meeting room" and "handshakes between members of both sides" are purely media hype by the US to cover up its "repeated failures and weak position" in the negotiations. According to previous reports from Iranian media citing informed sources, the Iran-US negotiations in Islamabad have made no substantial progress since they began due to the USs "exorbitant demands." Some Western media outlets are exaggerating the "positive atmosphere" of the negotiations for the purpose of influencing international energy prices. Although there has been some progress in the expert-level talks, the two sides still have serious differences on several issues, including the Strait of Hormuz.

Dollar Index: Bears Continue to Dominate Below 102.00

Alina Haynes

May 30, 2022 17:02

 截屏2022-05-30 下午4.54.16.png

 

The greenback, as measured by the US Dollar Index (DXY), continues on the defensive after Monday's recovery from lows in the 102.40-35 range.

Multi-Week Lows for the US Dollar Index

The index loses ground for the third consecutive session at the start of the week, remaining below the 102.000 level and despite a widespread preference for riskier assets among investors.

 

On Monday, no US market activity should leave the price action at the mercy of global risk appetite trends, as market participants continue to evaluate the various moves the Federal Reserve could take to normalize monetary conditions, primarily through interest rate hikes.

 

Monday's US schedule is barren, with just C. Waller (permanent voter, hawk) scheduled to speak during the NA session.

What to Search for Regarding USD

The dollar retreated to multi-week lows at the conclusion of last week due primarily to investors' tilt toward riskier assets.

 

Also weighing on the dollar was the view that inflation may have peaked in April, which supports the notion that the Fed may not need to be as active in hiking Fed Funds rates as market players anticipate.

 

In the meantime, the Fed's divergence from the majority of its G10 peers, geopolitical turbulence, rising US rates, and a potential "hard landing" of the US economy are all factors that will continue to favor a stronger dollar in the coming months.

 

House Price Index, CB Consumer Confidence (Tuesday); MBA Mortgage Applications, Final Manufacturing PMI, ISM Manufacturing, Construction Spending, Fed Beige Book (Wednesday); ADP Employment Change, Initial Claims, Factory Orders (Thursday); Nonfarm Payrolls, Unemployment Rate, Final Services PMI, ISM Non-Manufacturing (Friday); and Nonfarm Payrolls, Unemployment Rate, Final Services PMI, ISM Non-Manufacturing (Friday).

 

Back burner issues: Powell's "softish" landing... what does that mean? Increasing geopolitical tensions with Russia and China. The Fed's more aggressive path for interest rates this year and in 2023. US-China trade dispute. Future of the Build Back Better plan by Biden.

US Dollar Index Relevant Levels

Now, the index is falling 0.08 percent at 101.55 and the next support level is at 101.38 (30-day low for the month of May), followed by 101.11 (55-day simple moving average) and 99.81. (weekly low April 21). In contrast, a breach of 105.00 (13 May 2022 high) would pave the way to 105.63 (11 December 2002 high) and then 106.00. (round level).

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