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November 9th - According to a report on the website of the Russian newspaper Izvestia on November 8th, Russian troops are about to "liberate" the city of Kupyansk in the Kharkiv region. Previously, the "Western" military group controlled the Oskol River crossing, blocking Ukrainian forces in that direction. Russian troops are currently completing their clearing operations in the western region of Kupyansk in the Kharkiv region.The governor of Voronezh region, Russia, said that a Ukrainian drone strike at night caused a disruption to electricity and heating supplies in the region.According to RIA Novosti, Russian air defense forces shot down 44 Ukrainian drones last night.On November 9th, internal documents from Meta Platforms (META.O) revealed that approximately 10% of the companys revenue, or about $16 billion, will come from fraudulent and prohibited advertising in 2024, highlighting loopholes in its advertising oversight. The internal Meta document shows that the social media giant has failed to identify and block a large number of illegal ads for at least the past three years, exposing billions of users on its platforms Facebook, Instagram, and WhatsApp to content including investment scams, online gambling, and prohibited medical products. The company estimates that its platforms push approximately 15 billion fraudulent ads to users daily.Conflict Situation: 1. Russia – ① Russian Ministry of Defense: A Ukrainian drone was shot down in the Moscow region. ② Russia launched a large-scale airstrike against Ukraine, damaging energy and transportation facilities in many parts of Ukraine. ③ Russian Ministry of Defense: Russian troops have occupied the village of Vovche in Ukraines Dnipropetrovsk Oblast. 2. Ukraine – ① Ukraine claims Russia launched a large-scale attack on its energy facilities. ② Ukrainian Prime Minister: Russian attacks on Ukrainian dams damaged several large energy facilities in the Kyiv, Kharkiv, and Poltava regions. Other Situations: 1. US – ① US media: Hungary will be exempt from US sanctions when purchasing Russian energy. ② Ukrainian President Zelensky: Russia launched 450 drones and 45 missiles to attack Ukraines energy sector and infrastructure. 2. Ukraine – Rotating power outages will be implemented in most parts of Ukraine on the 9th. 3. Russia – ① Russian Foreign Minister Lavrov: At the instruction of Russian President Putin, Russia has begun drafting proposals regarding possible Russian nuclear testing programs. ② Russia claims it has not received any statements from the US regarding the resumption of nuclear testing through diplomatic channels. 4. Other – Both external power supply lines to the Zaporizhzhia nuclear power plant have been repaired.

US Dollar Index reaffirms 20-year high on Ukraine-related news

Alina Haynes

Sep 26, 2022 14:32

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While risk aversion rises on Monday morning, the US Dollar Index (DXY) is still bullish over 113.80. It recently reclaimed the 20-year high above 114.70. In addition to bad attitude, Fed members' hawkish views also assist the US currency.

 

The head of the Federal Reserve, Jerome Powell, said, "We are committed to deploying our tools," on Friday. Fed Vice Chair Lael Brainard then added that low-income people are feeling the effects of "hard" inflation. Despite the economy's continuing speed, Atlanta Federal Reserve President Raphael Bostic told CBS' "Face the Nation" over the weekend that he still believes the central bank can cut inflation without substantial job losses.

 

Recent US S&P Global PMIs for August, issued on Friday, showed an increase in the Manufacturing index to 51.8 from 51.5, and an increase in the Services index to 49.0 from 44.6.

 

The president of Ukraine, Zelenskiy, was recently mentioned on a different page of a CBS article as saying, "Putin's nuclear threats may have been a bluff, but now it may be a reality." While Russia's foreign minister said annexing territory hosting widely criticized referendums would be met with complete protection from Moscow, the United States warned of "catastrophic ramifications" if Moscow utilized nuclear weapons in Ukraine.

 

Despite the Fed's hawkish attitude and rate increase, risk aversion gripped Wall Street, and rates helped the US currency stay higher. Although this occurs, S&P 500 Futures only fall by a few points as 10-year US Treasury yields climb by four basis points to 3.74 percent.

 

The US dollar index's future strength against major currencies may be aided by investors' reluctance to take on additional risk. Still, comments from Fed Chair Powell and US Durable Goods Orders are major triggers to keep an eye on for clues about the market's future course.

 

A daily close above 114.00, which coincides with a higher-trending resistance line from May, is needed for the DXY bulls to keep control. Dollar investors, however, should be wary of the indicator's current overbought reading of 14.


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