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Germanys seasonally adjusted unemployment increase in December was 3,000, compared to a forecast of 5,000 and a previous reading of 1,000.Germanys seasonally adjusted unemployment rate in December was 6.3%, compared to a forecast of 6.30% and a previous reading of 6.30%.Germanys seasonally adjusted total number of unemployed in December was 2.977 million, compared with 2.973 million in the previous month.On January 7th, reports surfaced that Honda would extend its production halt in China by two weeks, with production scheduled to resume on January 19th. On the same day, Honda China and GAC Honda responded, stating that after considering factors such as semiconductor supply and production line upgrades, GAC Honda decided to adjust its production schedule for January 2026, extending the production halt for another two weeks. Honda China and GAC Honda further stated that the impact of this short-term production adjustment is relatively controllable, and the expected recovery of lost production throughout the year will not affect product deliveries to customers. GAC Honda will adjust its production schedule accordingly and prepare for the entire years production plan.January 7th - Traders were not particularly panicked by the US military intervention in Venezuela and the threat of further military action in the region, but they remained closely watching the events subsequent impact on the oil market. US President Trump stated that Venezuela would "deliver" up to 50 million barrels of oil to the US, which would be sold at market prices. This statement led to a further decline in oil prices. However, a senior foreign exchange analyst at MUFG Financial Group stated that the expectation of near-term pressure on oil prices "often bodes well for emerging Asia," as most economies in the region are net oil importers.

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.

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