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On January 12th, the Shanghai Futures Exchange (SHFE) reported the following data on energy and chemical warehouse receipts and changes: 1. Pulp futures warehouse receipts: 130,363 tons, an increase of 5,874 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 12,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 0 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 2,040 tons, an increase of 40 tons compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 0 tons, unchanged compared to the previous trading day. The previous trading day saw no change; 6. Petroleum asphalt futures warehouse receipts totaled 16,160 tons, an increase of 2,420 tons compared to the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts totaled 16,660 tons, unchanged compared to the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts totaled 3,464,000 barrels, unchanged compared to the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts totaled 22,760 tons, unchanged compared to the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts totaled 0 tons, unchanged compared to the previous trading day.January 12th - It was learned today that the International Organization for Standardization (ISO) has officially released the international standard "Tribological properties of bearing materials for sliding bearings - Part 1: Testing of bearing alloys". This standard was led by my country, with experts from seven countries including Japan, Germany, the United Kingdom, France, and Austria participating in its development.On January 12th, Jefferies released a research report stating that it expects Lao Pu Gold (06181.HK) to achieve a net profit of RMB 2.3 billion in the second half of 2025, a year-on-year increase of 155%, with sales reaching RMB 15.3 billion, a year-on-year increase of 207%. Jefferies lowered its net profit forecasts for Lao Pu Gold for 2025, 2026, and 2027 by 14%, 6%, and 12% respectively, to reflect lower gross margins due to high gold prices and a return to normal growth in 2027. The bank lowered its target price for Lao Pu Gold from HKD 1,103 to HKD 981, corresponding to projected P/E ratios of 22x and 17x for 2026 and 2027 respectively. Despite profit margin pressures, Jefferies expects Lao Pu Gold to recover this year and reiterated its buy rating. Jefferies predicts that Lao Pu Gold will achieve a net profit of RMB 2.3 billion in the second half of 2025, with projected sales of RMB 13 billion in the mainland China market, a year-on-year increase of 188%; average sales per store are expected to increase by 130% year-on-year. Regarding overseas markets, overseas sales are projected to reach RMB 2.2 billion, representing a year-on-year increase of 295%. The gross profit margin is expected to be 36.4% during the period, compared to 38.1% in the first half of the year.On January 12th, according to Tianyancha Intellectual Property Information, a patent application filed by China FAW Group Corporation for "Vehicle Control Method, System, and Vehicle Based on Bio-Physical Coupling" was recently published. The abstract shows that this application relates to the field of vehicle control technology. The method includes: collecting multiple modalities of biosignals from the driver, which are acquired by a brain-computer interface device in the vehicle; recognizing the drivers current intention based on the multiple modalities of biosignals, and using a preset digital twin model to perceive the environmental state and predict the drivers target driving behavior; determining the drivers target intention based on the drivers current intention and target driving behavior; and controlling the vehicle based on the drivers target intention and the environmental state. This solves the problem of relatively limited application scenarios and insufficient functional expansion of the integration of brain-computer interfaces with automobiles, increasing driver comfort, improving operational efficiency, shortening response time, enhancing intention recognition capabilities in complex scenarios such as high speeds, and expanding immersive interaction.Market sources say XPeng Motors (09868.HK) is hiring banks to conduct an initial public offering (IPO) in Hong Kong for its flying car division.

NZD/USD falls rapidly from 0.6260 when the RBNZ announces a decline in inflation projections to 3.07 percent

Daniel Rogers

Aug 08, 2022 12:00

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The NZD/USD pair has encountered selling pressure while attempting to surpass the immediate resistance level of 0.6260. The asset has seen bids after the Reserve Bank of New Zealand (RBNZ) announced inflation estimates at 3.07 percent, down from 3.29 percent previously. It could be an indication of waning price pressure, but additional evidence is still needed to support the argument.

 

Price pressures in the New Zealand economy are increasing and have not yet shown signs of weariness. A June report indicates that an inflation rate of 7.3% is adequate to generate headwinds for families. The RBNZ is consistently escalating its policy tightening measures to combat the same. RBNZ Governor Adrian Orr has already increased the Official Cash Rate by 2.50 percentage points.

 

On the front of the US dollar, the US dollar index (DXY) has returned all intraday gains and is currently trading near the day's open at 106.60. While attempting to break over the crucial resistance level of 106.80, the DXY has encountered selling pressure. This week, investors' attention is centered on Wednesday's release of the US Consumer Price Index (CPI).

 

The annual inflation rate is projected to continue at 8.7 percent, down from 9.1 percent in the previous report. Oil prices have been on a downward trend in July, which may be the determining factor for a significant decline in the price increase index. While the US CPI excluding volatile food and oil prices may increase from 5.9 percent to 6.1 percent, the previous reading was 5.9 percent.