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According to RIA Novosti, the Russian Ministry of Defense stated that Russian troops have taken control of Bilyakivka in the Dnipropetrovsk region of Ukraine.The Russian Ministry of Defense stated that in the past week, Russian forces conducted two large-scale strikes and six small-scale strikes against military targets in Ukraine.On February 27th, Ukrainian Defense Minister Mikhailov stated that the Ukrainian military hopes to accelerate the production of anti-ballistic missiles for the Patriot air defense system to help defend against Russian attacks. Fedorov indicated that Kyiv urgently needs air defense equipment and is seeking to establish joint ventures with partners to expedite the production of equipment designed to intercept ballistic missiles. The US-made Patriot missiles have been a crucial component of Ukraines air defense system, enabling the Ukrainian army to shoot down Kinshah and Zexson missiles, which Russia has claimed are uninterceptable. Ukrainian President Zelenskyy has expressed growing dissatisfaction with delays by allies in delivering hardware, including air defense systems.February 27th - According to the Ministry of Human Resources and Social Security, the State Council has appointed and removed several state personnel. Sun Zhiyu was appointed Vice Minister of Water Resources; He Biao was appointed Vice Director of the State Administration of Radio and Television; Cui Jian was appointed Vice Director of the State General Administration of Sport; Peng Qingen was appointed Deputy Director of the Taiwan Affairs Office of the State Council; Liu Jinfeng was appointed Director of the State Administration of Traditional Chinese Medicine; and Wang Weidong was appointed Vice Director of the National Medical Products Administration. Liu Zhongyi was removed from his position as Assistant Minister of Public Security; Wang Zhao was removed from his position as Deputy Chief Inspector of Natural Resources (full-time); Yu Yanhong (female) was removed from her position as Director of the State Administration of Traditional Chinese Medicine; and Xu Jinghe was removed from his position as Vice Director of the National Medical Products Administration.February 27th - The Nasdaq Composite Index fell sharply on Thursday, erasing all of Wednesdays gains, as tensions between the US and Iran continued to weigh on the market. While the macroeconomic backdrop was favorable for market gains, short-term risks kept the market range-bound. The Nasdaq fell sharply yesterday after initial reports that the third round of US-Iran talks had broken down, with Iran reportedly rejecting US demands. However, the latest news indicates that significant progress has actually been made in the negotiations, with the next round scheduled for next week. This back-and-forth in macroeconomic and geopolitical factors has kept most markets range-bound. Currently, the main risks facing the Nasdaq are a potential escalation of the US-Iran military conflict and a hawkish adjustment in the Federal Reserves interest rate expectations.

Due to ECB predictions that are hawkish, the EUR/GBP rises beyond 0.850

Alina Haynes

Jul 21, 2022 11:38

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The EUR/GBP pair has gained gradually after testing the previous inventory distribution area, which is situated in a constrained band of 0.8475 to 0.8495 with less selling pressure. As investors back the shared currency bulls in expectation of a European Central Bank rate hike announcement, the cross is attempting to surge over 0.8500. (ECB).

 

For the first time in eleven years, European Central Bank President Christine Lagarde is set to hike interest rates. The ECB must raise interest rates because European households can no longer tolerate the price pressures, and the Asset Purchase Program (APP) has come to an end. Before enacting a higher rate rise in the future, the ECB could wish to start out by raising interest rates just a little bit.

 

As a consequence of Russian President Vladimir Putin's comments that it is unclear in what condition the Nord Stream 1 equipment will return from repair, the situation around the gas supply from Nord Stream 1 to Europe has become ambiguous in the meantime.

 

Price pressures on the pound's front have continued to be intense due to volatile oil and food costs. The basic Consumer Price Index (CPI) has, however, shown indications of fatigue. The overall inflation rate was 9.4%, above expectations of 9.3% and the most recent figure of 9.1%. The core CPI dropped from the prior figure of 5.9 percent, while it still met forecasts at 5.8 percent.


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