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Conflict situation: 1. Houthi armed forces: The air defense system shot down a US MQ-9 drone that was performing a hostile mission in the airspace of Sanaa Province. This is the second MQ-9 drone that the air defense system successfully shot down within 24 hours, and the sixth this month. 2. People familiar with the matter: Israel still does not rule out the possibility of attacking Irans nuclear facilities. 3. This round of Palestinian-Israeli conflict has caused 51,157 deaths in the Gaza Strip. 4. The Israeli army airstrike in the central Gaza Strip killed at least 23 people. Other situations: 1. Yemeni people held large-scale rallies in many places including Sanaa to protest against the frequent air strikes on civilians by the US military in recent times. 2. The Iranian Foreign Minister met with the Italian Foreign Minister to discuss the situation in the Middle East. 3. The second round of indirect negotiations between Iran and the United States on the nuclear issue ended in Rome, Italy. The Iranian Foreign Minister said that the next round of negotiations will be held on the 26th, and the expert-level technical negotiations will be held in Oman next Wednesday (23rd).Conflict situation: 1. Russian Ministry of Defense: The M-46 towed artillery squad of the "Central" group of troops destroyed a hidden stronghold of the Ukrainian armed forces in the direction of the Red Army City. 2. The Russian army controlled Shevchenko and Oleshnya in the Kursk region in eastern Ukraine. 3. Putin announced a 30-hour Easter truce. Zelensky: Not enough, it is recommended to extend the ceasefire to 30 days. 4. Zelensky: The troops continue to operate on the territory of the Kursk region and hold their positions. The troops have advanced in Belgorod and expanded the area of control. Other situations: 1. British media comments: The mineral agreement cannot "buy back peace" for Ukraine. 2. The Russian president asked the government to draw up a list of people from unfriendly countries. 3. Ukrainian officials: The mineral agreement did not discuss the issue of US aid to Ukraine being converted into debt. 4. Russian Ministry of Defense: Russia and Ukraine have completed the exchange of 246 prisoners of war. The exchange of prisoners of war between Russia and Ukraine was mediated by the UAE.On April 20, Ukrainian President Zelensky posted on social media on the 19th local time that Russia has not responded to the proposal for a 30-day full and unconditional ceasefire for 39 consecutive days. If Russia suddenly expresses its willingness to join the full and unconditional ceasefire framework at this moment, Ukraine will respond in kind - how Russia acts, Ukraine will respond in kind. If a full ceasefire is truly achieved, Ukraine proposes to extend the ceasefire until after Easter on April 20. This will test Russias true intentions, because 30 hours is not enough to establish real confidence measures, and 30 days may create an opportunity for peace. Zelensky emphasized that according to the latest battle report of the Ukrainian commander-in-chief, the Russian armys assault operations are still continuing in some areas of the front line, and its artillery fire has not stopped. The Ukrainian army is always on high alert and implements equal countermeasures, and every Russian artillery shell will be fully counterattacked.Ukrainian President Zelensky: Ukraines air defense system is repelling attacks by Russian drones, which shows Putins true attitude.Ukrainian President Zelensky: Ukrainian troops continue to operate on the territory of the Kursk region and hold their positions. In the Belgorod region, troops have advanced and expanded our area of control.

GBP/USD is Testing 1.3020 and is Under Pressure at the Hourly Resistance Level

Drake Hampton

Apr 22, 2022 09:55

GBP/USD is flat in Asia at 1.3029, pressured by an hourly barrier, and has traded in a narrow range between 1.3022 and 1.3035. However, the pound has been losing ground against a strong euro, while remaining relatively stable against the US dollar in the late afternoon on Wednesday.

 

Overnight, investors focused on hawkish comments from European Central Bank officials, which fueled speculation that the central bank will soon boost interest rates, sending the euro to a one-week high. It was also solid in anticipation of French President Emmanuel Macron's reelection victory on Sunday following yesterday's debate.

 

Joachim Nagel, president of Germany's Bundesbank, joined a chorus of experts in predicting an ECB rate hike in the third quarter. Meanwhile, traders have remained focused on the Bank of England's future monetary policy course.

 

The Bank of England modified its rhetoric last month on the necessity for additional interest rate hikes while emphasizing the economy's downside risks. Catherine Mann, a Bank of England monetary policymaker, provided an in-depth and counterbalancing assessment of the MPC's issues.

 

"The critical aspect was the need to combat inflation," analysts at Westpac said, adding that the latter was viewed as more worrying and exhibiting signs of spreading to pricing schemes (second-round effects), including front-loaded rate hikes. "While tightening may be reconsidered if demand deteriorates, the converse may also be true if the economy continues to perform well and inflation remains persistent.' By the end of 2022, money markets are pricing in 160 basis points of BoE rate hikes.

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