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April 25 - According to a report by the Islamic Republic of Iran Broadcasting (IRNA) on April 24, Iranian Foreign Ministry spokesman Bagaei said that during Foreign Minister Araghchis upcoming visit to Pakistan, Oman, and Russia, in addition to consultations on bilateral coordination and regional developments, Iran will also exchange views with the three countries on the latest progress in ending the US-Israel war of aggression against Iran and achieving regional peace and stability.Schlumberger (SLB.N) stated in a conference call that it is seeking to recover higher costs due to supply chain disruptions in the Middle East. It is passing on these inflationary costs to customers through contractual terms.On April 24th, it was reported that Google will invest $10 billion in Anthropic, with the potential for an additional $30 billion, strengthening the relationship between the two companies, which are both partners and competitors in the field of artificial intelligence. Anthropic stated that Google has committed to an immediate $10 billion cash investment at a valuation of $350 billion, the same valuation it received during its February funding round, excluding recently raised funds. The startup said on Friday that Google will invest an additional $30 billion if Anthropic meets its performance targets and will support Anthropic in significantly expanding its computing power. Anthropic has increased its funding efforts following the breakthrough success of its AI assistant, Claude Code.According to Nikkei, bidders will select clients for SoftBanks US data center project. Google and Microsoft are among the bidders.On April 24, it was reported that Azerbaijans National Oil Fund sold approximately 22 tons of gold in the first quarter of this year. This followed record high gold prices, pushing the sovereign wealth funds gold holdings to their maximum limit. According to the funds quarterly report, the gold reserves sold were worth over $3 billion at current prices, marking the first time the fund has reduced its gold reserves since it began purchasing gold in 2012.

Once the RBA minutes are made public, it is anticipated that AUD/NZD will once again test the day's low near 1.1110

Daniel Rogers

Oct 18, 2022 14:11

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The AUD/NZD pair lost its intraday rally after tumbling to roughly 1.1106 during the early session in Tokyo. The Reserve Bank of Australia's (RBA) minutes' release has weighed on the cross. According to the monetary policy minutes from October, concerns about domestic and international growth risks led to the announcement of a rate increase of 25 basis points (bps), which was less than expected.

 

Additionally, RBA policymakers think the central bank has raised interest rates quickly, which could have an impact on household expenditure.

 

Australia has had the lowest unemployment rate in its economic history, at 3.5% during the past 50 years, thanks to a healthy labor market. While core inflation has remained high because of rising service prices, the drop in oil prices has put downward pressure on headline inflation.

 

Moving forward, attention will be focused on the employment statistics for Australia. The consensus predicts that the Employment Change will drop from 33.5k to 25k. At 3.5%, the unemployment rate won't change.

 

The cross declined in early Tokyo after the announcement of higher-than-expected inflation data for New Zealand. The annual Consumer Price Index (CPI) came in at 7.2%, which was much higher than expected but marginally lower than the 7.3% reported in the prior report. While the quarterly inflation rate came in at 2.2%, exceeding both the 1.6% estimate and the 1.7% reading from the previous quarter, it was below the 1.7% figure from the previous quarter.

 

Given that price pressures have not abated as anticipated, it is now more likely that the Reserve Bank of New Zealand (RBNZ) will continue to raise interest rates at the current pace. 3.5% is the Official Cash Rate (OCR).


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