EUR/USD 1.15138

USD/JPY 159.633

GBP/USD 1.31935

GBP/JPY 210.577

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On April 5th, the Central Command of the Iranian Armed Forces, Hatem Anbia, announced that in response to the US actions to rescue its downed fighter pilot, Revolutionary Guard fighters, in conjunction with the Basij militia and with the cooperation of the Law Enforcement Commands commando unit, shot down and destroyed an enemy aircraft south of Isfahan. The Iranian Islamic Revolutionary Guard Corps also stated that, during the US pilot rescue mission, multiple departments of the Iranian armed forces collaborated to destroy an enemy aircraft. This information has not yet been confirmed by the US. On the same day, according to the New York Times website, two US military transport planes malfunctioned and became "stranded" while carrying out a pilot rescue mission in Iran. The US subsequently dispatched three new aircraft to continue the rescue mission and destroyed the two malfunctioning transport planes.April 5th - According to the China State Railway Group Co., Ltd., on April 4th, the national railway system transported 22.123 million passengers, setting a new record for single-day passenger volume during the Qingming Festival holiday. On April 5th, the national railway system is expected to transport 14.7 million passengers, with 768 additional passenger trains planned.Bahrains national oil and gas company confirmed that an incident occurred at one of its oil storage facilities on Sunday following an Iranian attack, resulting in a fire in the oil tanks. The fire has been completely extinguished, the situation is under control, and damage is currently being assessed. No casualties have been reported.April 5th - According to the Financial Times, the UK is trying to persuade Anthropic to expand its operations in the country. The report, citing sources familiar with the matter, stated that the UK governments proposals to Anthropic range from expanding its London office to a dual listing. Neither Anthropic nor the UK Department for Science, Innovation and Technology immediately responded to Reuters requests for comment. Prime Minister Starmers office has been supporting the Department for Science, Innovation and Technologys efforts, and the UK will present these proposals to Anthropic CEO Dario Amodei during his visit to the UK at the end of May. The US government previously blacklisted Anthropic, deeming it a national security supply chain risk because Anthropic refused to allow the military to use its AI chatbot Claude in US surveillance or autonomous weapons systems. A US judge has temporarily blocked the blacklist, and the AI startup has filed a second lawsuit related to this supply chain risk assessment, which is still pending.The local governor said an oil pipeline in Primorsk, a Baltic port in Russia, was damaged in a Ukrainian drone attack.

NZD/USD finds support near 0.6220; a decline appears more probable due to China's Covid concerns

Alina Haynes

Nov 28, 2022 15:04

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China's anti-Covid shutdown protests have weakened commodity-linked currencies, resulting in a gap-down start of roughly 0.6220 for the NZD/USD pair. During the previous week, the New Zealand dollar dropped after failing to surpass the round-level barrier of 0.6300.

Individuals have taken to the streets in China to demonstrate their opposition against the zero-tolerance policy, leading to a rise in civil unrest. Due to Chinese leader Xi Jinping's conservative posture and authoritarian framework, global markets have become more risk-averse. This has created an economic expansion risk and may worsen the already shaky housing market. Increasing apprehensions about societal risks may also result in political instability, which may have long-lasting detrimental effects on economic structure.

Notably, New Zealand is one of China's most important trading partners, and instability in China could damage the New Zealand Dollar.

In the meantime, the US Dollar Index (DXY) is profiting from investors' liquidity as the demand for safe-haven assets surges. The USD Index is hovering around 106.20 and attempting to reduce volatility as China's anti-locking protests restrict the upside and predictions of a slowdown in the Federal Reserve's larger rate hike cycle limit the downside (Fed).

S&P500 futures are under heavy pressure from market players due to a risk-averse market mentality. In anticipation of Fed chief Jerome Powell's address on Wednesday, yields on 10-year US Treasuries have decreased to approximately 3.68 percent. The Fed Chair's speech could dispel suspicions about a pause to the Fed's current rate-hiking program.