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On August 26, according to Sepah News, the official news website of the Iranian Revolutionary Guard Corps, Revolutionary Guard spokesman Hossein Mohbi stated regarding the latest situation in the Strait of Hormuz: "The Strait of Hormuz is currently under our control, and there are no enemy warships in the Persian Gulf." He added, "From a military and territorial jurisdiction perspective, no vessel can pass through this waterway without Iranian permission and administration." Mohbi stated, "The Strait of Hormuz belongs to Iran and Oman, which is separated from us by the sea. About a month ago, we began negotiations with Oman and achieved results acceptable to both sides." "In these negotiations, the two sides reached some agreements on the respective shares of the straits waters and the revenue shares that Iran and Oman would receive from it." "The United States is interfering in this process, which has caused delays in the relevant work." He emphasized, "If the United States does not accept our conditions, the Strait of Hormuz will never be opened."A spokesman for the Iranian Revolutionary Guard said: "The Strait of Hormuz will not be opened if the United States does not accept our conditions."A spokesperson for the Iranian Revolutionary Guard stated that the United States is obstructing the negotiation process between Oman and Iran, causing delays in the talks.August 26 (Xinhua) -- Iranian President Pezechzian said at a meeting in Tehran on the 26th that the new round of US economic sanctions would be fruitless. Pezechzian stated that given the measures already taken by the Iranian government, the USs current economic pressure will not yield any results, just as it has failed to achieve anything in the war.On August 26, Qatari Foreign Ministry spokesman Ansari stated on August 25 that the US sanctions against Iran are unilateral, not UN or multilateral, and that those who decided to impose the sanctions should be questioned. Ansari emphasized that Qatar has always prioritized reaching a diplomatic solution through dialogue, believing it to be the only way out of the regional crisis, and called on all parties to participate in this process in good faith. Ansari also called for international pressure to be applied to Israel to respect the agreed-upon plans. He pointed out that Israels activities in the Gaza Strip and the West Bank, as well as its attacks on Syrian and Lebanese sovereignty, demonstrate that "Israel has no peace partners." Ansari stated that "the ball is now in Israels court," and if Israel wants to be part of the region and demonstrate its seriousness in seeking a diplomatic solution, it needs to abide by the agreements, and so far, there has been no positive progress in this regard.

The ECB-BOJ policy is in the spotlight as the EUR/JPY shows a minor rebound from 140.00

Alina Haynes

Jul 19, 2022 12:03

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From the psychological support level of 140.00, the EUR/JPY pair has shown a less likely rebound. Following a brief recovery, the cross has found resistance at about 140.0. The asset is expected to undergo large price swings in the near term as investors shift their focus to this week's monetary policy statements by the European Central Bank (ECB) and the Bank of Japan (BOJ).

 

The ECB is expected to announce a rate rise in response to market speculation, ending its 11-year streak of maintaining the status quo. Households are experiencing price pressures as a result of a significant reduction in their real income, which has significantly affected their patterns of savings and consumption.

 

The European Central Bank (ECB) has already made the announcement that the Asset Purchase Program (APP) would come to an end in order to reduce the galloping inflation. The focus will now shift to an increase in interest rates in the quest for readily available cheap money on the market.

 

The most significant event of the week will be the publication of the eurozone consumer confidence index, aside from that. The initial estimate for the Consumer Confidence statistics for the eurozone is -24.5, down from the prior estimate of -23.6.

 

When announcing its interest rate decision, the Bank of Japan (BOJ) is likely to keep things the same. Given that the Bank of Japan (BOJ) would likely boost global economic demand, it is expected that its governor, Haruhiko Kuroda, will take a dovish stance. The BOJ is concerned with keeping the inflation rate at 2%, and in order to do so, it must also raise labor expenses.


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