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On March 1, in response to the heated argument with Ukrainian President Zelensky during the meeting on February 28, US President Trump said, "The meeting was not fruitful, and I think he (Zelensky) overestimated his abilities." Trump said that if he wanted to achieve an immediate ceasefire between Russia and Ukraine, he only needed to sign a contract. He also warned Zelensky that without US support, "he cant win" and "it wont end well." As for whether he was considering cutting off aid to Ukraine, Trump said it didnt matter what he was considering, but he also told reporters, "You also saw what I went through today."Market News: Rostov, Russia is dealing with a Ukrainian drone attack.According to Japans Kyodo News: The foreign ministers of Japan and Mongolia will hold talks in Tokyo on March 4.On March 1, according to the Wall Street Journal, U.S. Defense Secretary Hegseth had his first call with senior Mexican military officials, but it did not go smoothly. According to people who listened to the briefing of the January 31 conference call, Hegseth told officials that if Mexico did not deal with the collusion between the government and drug cartels, the U.S. military was ready to take unilateral action. These people said that the Mexican senior officials who participated in the conference call were shocked and angry and felt that he was suggesting that the United States take military action in Mexico. Hegseths private warning now hangs over Mexicos trade negotiations with Trump. The concern on the Mexican side is that the request for Mexico to end fentanyl smuggling and immigrant trafficking is quietly supported by potential military action from the United States, not just a 25% tariff, which will weaken the countrys economy.March 1, according to the Associated Press, ordinary Ukrainians expressed support for Zelensky, calling him a defender of national interests. Zelensky had previously had a fierce quarrel with Trump in the White House. Many Ukrainians did not seem to be disturbed by the storm. They said that the Ukrainian leader defended the dignity and interests of the country.

Hurdles lie in wait for GBP/USD near 1.1500; focus is on US Retail Sales

Alina Haynes

Sep 15, 2022 11:50

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The GBP/USD pair is slightly higher after bouncing off 1.1526 during the late New York session. The pair is expected to move in a narrow range as investors wait for the release of U.S. Retail Sales data. After re-testing a low of 1.1480 twice on Wednesday, the asset's overall price rose sharply. The market's expectation of an increase in the United Kingdom's inflation rate was disproven, which boosted the bullishness of the pound.

 

United Kingdom headline Consumer Price Index (CPI) came in at 9.9%, which was below both the forecast of 10.2% and the prior data of 10.1%. Even though the economy is suffering greatly from skyrocketing energy costs, policymakers at the Bank of England (BOE) are ecstatic by the recent drop in headline CPI. With this negative number, the British economy can finally breathe a sigh of relief. Formerly, market experts estimated that inflation in the pound zone would hit 13%-14%. Therefore, it would be incorrect to identify the situation as a "depletion of pricing pressure."

 

Following a meteoric ascent, the value of the US dollar index (DXY) has leveled off. The market has begun pricing in a 1% rate hike at the Federal Reserve's monetary policy meeting in September, thus the DXY is likely to remain at high levels (Fed). Though it has tightened monetary policy over the previous six months, the Federal Reserve is once again in a neutral position. The Fed has reason to be concerned because the actual reading on core CPI, at 6.3%, was higher than expectations of 6.2%.

 

Data on US retail sales will be the main focus of today's trading session. Preliminary reports indicate there has been no uptick in retail demand. Stagnant consumer demand is a bad sign for the economy since it indicates a decline in consumer confidence.

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