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July 26 - According to Reuters: A senior Iranian source said that Iran will cease its attacks as long as the United States maintains the current ceasefire; after the United States suspended its attacks on Iran, Irans attitude was "more skeptical than optimistic".1. Monday: ① Data: Germanys July IFO Business Climate Index; UKs July CBI Retail Sales Balance; US June Durable Goods Orders (MoM); US July Dallas Fed Business Activity Index. 2. Tuesday: ① Data: US ADP Employment Change (Weekly) to July 11; US May FHFA House Price Index (MoM); US May S&P/CS 20-City Composite Home Price Index (YoY, Unadjusted); US July Conference Board Consumer Confidence Index; US July Richmond Fed Manufacturing Index. ② Event: Speech by RBA Governor Bullock. 3. 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Saturday: ① Data: Total number of US oil rigs for the week ending July 31. 7. Sunday: ① Events: OPEC+ oil-producing countries will hold their monthly meeting on oil policy.The China Earthquake Networks Center officially measured a 4.8-magnitude earthquake in New Taipei City, Taiwan (24.94 degrees north latitude, 121.82 degrees east longitude) at 20:36 on July 26, with a focal depth of 95 kilometers.July 26 - To effectively carry out emergency disaster relief work following Typhoon Noul, the Guangdong Provincial Department of Finance and the Provincial Emergency Management Department urgently allocated 50 million yuan in provincial-level natural disaster relief funds on July 26. This funding will support disaster-stricken areas such as Huizhou, Shanwei, Jieyang, Meizhou, and Heyuan in emergency rescue and relief efforts, procurement and storage of relief supplies, investigation and emergency response to secondary disaster risks, and reconstruction of damaged housing. The aim is to minimize the impact of the disaster and ensure the safety of life and property of affected people.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 4.8 occurred at 20:36 on July 26 in the sea area near Yilan County, Taiwan (24.90 degrees north latitude, 121.87 degrees east longitude). The final result is subject to the official rapid report.

The USD/JPY crosses the 135.00 mark as the DXY rises ahead of US inflation

Daniel Rogers

Aug 10, 2022 11:32

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The USD/JPY pair is climbing northward during the Asian session in an attempt to retake its two-week high at 135.58. The asset's price turned positive on Monday as a result of the abundance of bids that occurred near 134.50. The USD/JPY pair's two-day consolidated activity shows that market participants are anxiously awaiting the release of the US Consumer Price Index (CPI).

 

Investors expect a decrease in price pressures this time, thus the release of the US inflation report is crucial. The investment community is aware that the crisis between Russia and Ukraine sharply increased oil prices, which continued to be essential to pressures on global costs.

 

A more than 11% drop in oil prices in July contributed to the black gold's continued sluggishness and lowered inflation expectations. The market anticipates that the inflation rate will decrease from 9.1% to 8.7%. The core CPI, which does not include food and oil, is anticipated to increase to 6.1% from the previously announced 5.9%. It appears that the demand for durable goods is rapidly increasing again. The US dollar index (DXY) is currently aiming to surpass the 106.40 immediate barrier.

 

The yen bulls are circling Tokyo as a result of Japan's government reorganization. Finance Minister Shunichi Suzuki will probably remain in the cabinet after this week's reorganization by Japanese Prime Minister Fumio Kishida. All eyes will now be on the Japanese government's efforts to raise the labor cost index, which is essential for keeping inflation over 2%.