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On October 16, a drone strike targeted an industrial facility in the Surgut region of western Siberia, Russia. The region is home to several oil and gas facilities. Ruslan Kukharuk, governor of the Khanty-Mansi Autonomous Okrug, stated that the attack caused a fire at a facility in Surgut, located more than 2,130 kilometers northeast of Moscow. Kukharuk said, “Emergency personnel have arrived on the scene, and experts are assessing the scale and nature of the damage.” However, he did not disclose the name of the attacked facility. This attack came after Ukrainian President Volodymyr Zelenskyy ordered the resumption of strikes against Russian oil refineries. This followed escalating tensions between the two countries following President Trump’s restrictions on intelligence support to Ukraine. In an interview published Thursday in the Financial Times, Zelenskyy stated that Ukraine had suspended its attacks for three days in response to Trump’s call for an “energy ceasefire” on Sunday, but has now decided to end the suspension.Russia claims it hit a cargo ship in the Black Sea.The Saudi-led coalition intercepted three drones south of Riyadh.The Saudi-led coalition said it had intercepted and destroyed two cruise missiles over the Red Sea.Russian President Vladimir Putins special envoy Grigory Dmitriev: (Regarding the sanctions bill of the late Senator Graham) The bill hindered Russian-American investment cooperation, and more and more people in the United States are realizing that it was a mistake.

AUD/USD continues to swing near 0.6860 despite positive Australian employment data

Alina Haynes

Dec 15, 2022 11:35

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The AUD/USD currency pair continues to be affected by the Federal Reserve's monetary policy decision (Fed). The Australian dollar has continued to bounce at 0.6860 despite the Australian Bureau of Statistics' announcement of a significant improvement in Employment Change data. The Australian economy has created 64K new jobs, as opposed to the 19K expected and the 32.2K seen earlier. The unemployment rate has remained unchanged at 3.4%.

 

Previously, 12-month inflation forecasts for Australian consumers declined to 5.2% from 5.7% and 6.0% in the prior edition. Reserve Bank of Australia will be delighted by a considerable decline in inflationary pressures (RBA). Philip Lowe, the RBA's governor, has been tightening monetary policy to reduce the CPI (CPI).

 

Notably, a drop in one-year inflation expectations will not compel the RBA to abandon further interest rate hikes, given that the route to achieving a 2% inflation rate is not yet complete. The Reserve Bank of Australia (RBA) could boost the Official Cash Rate (OCR) by 25 basis points (bps).

 

A change in the Federal Reserve's (Fed) current monetary policy plan caused volatility in the US Dollar. After the Fed announced a lesser rate hike of 50 basis points (bps) and abandoned the 75 basis point rate hike cycle, the US Dollar Index (DXY) plummeted to a six-month low of 103.49. As the fight against inflation will take some time, the Federal Reserve has raised the peak interest rate to 5.1% by the end of CY2023.


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