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August 4th - Recently, the Cyberspace Administration of China (CAC) launched a special campaign called "Clean Up the Online Environment and Rectify Malicious Hype of Enterprise-Related Information." Based on letters from relevant departments and local cyberspace administrations, a number of illegal and irregular accounts that infringe upon the legitimate online rights and interests of enterprises and entrepreneurs will be dealt with severely.According to JLC Network Technology, several airlines will lower domestic fuel surcharges starting from midnight on August 5th, marking the third reduction this year. After the adjustment, adult passengers will be charged 40 yuan for flights of 800 kilometers or less, and 70 yuan for flights over 800 kilometers, a decrease of 10 yuan and 30 yuan respectively compared to before the adjustment. 1. This fee has fluctuated throughout the year: it remained low in the first quarter (10 yuan for flights under 800 kilometers, 20 yuan for flights over 800 kilometers); due to geopolitical conflicts, international crude oil and jet fuel prices rose, leading to consecutive increases in April and May, peaking in May (90 yuan/170 yuan); subsequently, with the easing of geopolitical tensions and falling oil prices, it decreased twice in June and July, finally seeing a third consecutive drop on August 5th. 2. Domestic fuel surcharges are linked to aviation kerosene prices and are determined by the National Development and Reform Commission and the Civil Aviation Administration of China based on international oil prices, which airlines then implement. Currently, it is still summer vacation, and long-distance travel is increasing; this reduction will slightly lower the cost of long-distance air travel for the public.On August 4th, Japanese Economy, Trade and Industry Minister Minoru Jonouchi stated that the cost increases caused by the Middle East conflict have so far had a limited impact on consumer prices, and offered a relatively optimistic assessment of inflation risks. Jonouchi said, "The overall Consumer Price Index (CPI) rose 1.7% year-on-year in June, indicating that the rate of price increases remains relatively moderate." He made these remarks in response to the Bank of Japans warning last week regarding the "increased risk of inflation exceeding expectations." However, Jonouchi added, "We do need to remain vigilant, as costs may gradually be passed on to food and other consumer goods prices from this summer to autumn."The China Earthquake Networks Center officially reported that a magnitude 3.4 earthquake occurred at 10:25 a.m. on August 4 in Gao County, Yibin City, Sichuan Province (28.53 degrees north latitude, 104.67 degrees east longitude), with a focal depth of 5 kilometers.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.3 occurred at 10:25 AM on August 4th near Gao County, Yibin City, Sichuan Province (28.53°N, 104.67°E). 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%.