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On April 28, Iranian Foreign Ministry spokesman Baghae condemned the EU sanctions against Iran on the evening of April 27, calling them "inhumane" sanctions aimed at trampling on the basic rights of ordinary Iranians. Baghae stated on social media that the EUs "outdated moralizing" would not win any reputation for the EU and its member states on the international stage, but would only further expose the double standards and hypocrisy of the European ruling class, accelerating Europes marginalization in international affairs and plunging it into an even more embarrassing situation. European Commission President Ursula von der Leyen stated on April 27 that it was impossible to lift sanctions against Iran at this stage. EU High Representative for Foreign Affairs and Security Policy Karas previously stated that EU member states had agreed to expand the scope of sanctions against Iran, including those responsible for obstructing navigation in the Strait of Hormuz.Futures News, April 28th: Greige Fabric Inventory: On April 28th, greige fabric weaving inventory was approximately 32.7 days. The industry generally maintains a cautious approach to greige fabric inventory control, and due to volatile raw material prices, purchases are proceeding cautiously, resulting in a continued decline in greige fabric inventory. Both domestic and international trade orders are weak, and factories are currently primarily focused on fulfilling previous orders, hence the operating rate this week dropped to 61.8%. Greige Fabric/Material Trading: According to data monitoring and analysis from 350 price-collecting units, the Ministry of Commerces China•Shengze Silk and Chemical Fiber Index continued to rise on April 28th, with the chemical fiber fabric price index closing at 101.63 points, an increase of 0.03 points compared to the previous trading day.Italys PPI rose 4.4% year-on-year in March, compared with a previous reading of -3.70%.Italys PPI rose 5.9% month-on-month in March, compared with a previous reading of -0.80%.On April 28th, the Cyberspace Administration of China (CAC) recently discovered that the apps "Jianying" and "Maoxiang" and the website "Jimeng AI" failed to effectively implement regulations regarding the labeling of AI-generated and synthesized content, violating the Cybersecurity Law, the Interim Measures for the Administration of Generative Artificial Intelligence Services, and the Measures for the Labeling of AI-Generated and Synthetic Content. The CAC instructed local CAC offices to take measures against the aforementioned websites and platforms, including issuing warnings, reprimands, and severe penalties for those responsible. A CAC official stated that websites and platforms must strictly adhere to legal boundaries and rigorously implement regulations regarding the labeling of AI-generated and synthesized content. The CAC will further promote the rule of law in internet governance, continuously strengthen supervision and management of AI-generated and synthesized content labeling, effectively safeguard the public interest, and promote the healthy and orderly development of artificial intelligence.

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%.


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