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European Commission President Ursula von der Leyen: The Black Sea has become another front for Russias escalating military operations in Ukraine, which is unacceptable.On October 13th, Danske Bank analyst Celie Bouer stated in a report that the dollar, after hitting an 18-month high on Monday, remained near its highs, boosted by weakening market risk appetite and comments from Federal Reserve official Beth Hamack supporting further rate hikes. Currently, the market is awaiting US inflation data to be released on Wednesday for further clues about the Feds future interest rate decisions. Bouer stated, "The market is currently pricing in only a 5 to 6 basis point rate hike in October, so even if the CPI data confirms that the Fed may only be raising rates once a quarter, we dont think this will have a significant impact on the dollar."Emir of Qatar: Our insistence on dialogue and peaceful solutions does not mean compromising in defending our country.Emir of Qatar: The security and sovereignty of the Gulf states are non-negotiable.On October 13th, Blackstone Group President Jon Gray stated that the fiscal pressures facing France, the UK, and other parts of Europe are more pressing than the current risks in the US, as the US is supported by economic growth driven by technology investment and the AI boom. Gray said on Tuesday, "The US will eventually have to face tough choices too, but I think its more of a challenge for France, the UK, and continental Europe right now." He pointed out that some European economies are facing significantly lower economic growth rates and huge fiscal deficits. Gray stated that historical experience shows that fiscal crises are often resolved only when market pressures force governments to take action. Gray noted that the US is currently temporarily alleviating its expanding debt problem through faster economic growth, and a key driver of this growth is the AI investment boom.

The AUD/NZD Exchange Rate Retests Its Monthly Low Below 1.0850 As Aussie Inflation and GDP Decline

Alina Haynes

Mar 01, 2023 11:53

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The AUD/NZD pair has been heavily offered by market players after the Australian Consumer Price Index (CPI) data for the prior month experienced a sharp drop. Additional rate increases are anticipated even though RBA Governor Philip Lowe already increased the Official Cash Rate (OCR) to 3.25 percent in an effort to curb sticky inflation. This is because it would be imprudent to proclaim success in the struggle against rising price pressures.

 

Other than the Aussie inflation statistics, the Q4 Gross Domestic Product (GDP) estimates came in below expectations. The Australian Bureau of Statistics published a decrease in GDP (Q4) data from the consensus estimate of 0.8% and the Q3 number of 0.6% to 0.5%. When annualized, the Economy has met forecasts at 2.7%.

 

The New Zealand Dollar and the Australian Dollar will continue to trade despite the release of the Caixin Manufacturing PMI data. IHS Markit is expected to show an increase in economic data to 50.2 from 49.2 in the prior release.

 

While the consensus forecast called for a 1.5% rise, this week's New Zealand Retail Sales (Q4) figures showed a 0.6% decline. Future inflation in New Zealand is likely to be moderated by a decline in household demand because businesses will be compelled to give products and services at reduced rates to maintain present demand levels.


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