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On July 11, Iranian Parliament Speaker Mohammad Ghalibaf announced on social media that those responsible for the killing of Ali Khamenei would be held accountable. Ghalibaf emphasized that those responsible for attacks on Iranian territory, the killing of Iranian citizens, and especially the murder of Ali Khamenei, would be punished. The funeral for the late Supreme Leader Ali Khamenei was held on July 9 in Mashhad, his birthplace in northeastern Iran.On July 11, the Ministry of Civil Affairs issued a notice requiring local civil affairs departments to make every effort to carry out flood prevention and disaster relief work. The notice requires that social forces be guided and regulated to participate in disaster relief in a scientific and orderly manner. It calls for active cooperation with emergency management and other departments to guide social organizations in the emergency rescue field to leverage their professional advantages, connect with social resources, and coordinate flood prevention and disaster relief work in an orderly and collaborative manner. It also requires guiding charitable organizations to proactively connect with the needs of disaster areas, conduct disaster relief charitable donations in accordance with laws and regulations, promptly allocate donated funds and materials, and ensure information disclosure.July 11 - According to data from Lighthouse Pro, as of 8:34 PM on July 11, the daily box office revenue of the domestic film market exceeded 300 million yuan, marking the first time since February 26 this year that the daily box office revenue has exceeded 300 million yuan.July 11th - According to the official WeChat account of Hangzhou Metro, due to the impact of Typhoon Bavi (No. 9), Hangzhou City has activated a Level I typhoon emergency response. Starting at 6:00 AM on July 12th, the entire metro network will be suspended, with the resumption time to be announced separately.On July 11, Claudio Descalzi, CEO of Eni, the Italian state-owned holding group, stated that if the Middle East conflict continues, the global oil market will break through the current range of approximately $80 to $100 per barrel by the first quarter of 2027 at the latest, pushing up inflation and reducing energy demand. In an interview published Saturday in Il Sole 24 Ore, Descalzi said that the release of strategic reserves has so far helped keep crude oil prices roughly within this range, but this strategy is facing increasing risks because global reserves are finite. “The long-term solution is to enhance energy security through the diversification of supply sources and routes,” he said. Descalzi noted that global oil inventories have fallen by an average of 3.8 million barrels per day due to disruptions related to the war with Iran that began at the end of February, accelerating to an average of 4.6 million barrels per day in May. He stated that countries should focus on producers in North Africa and sub-Saharan Africa, Latin America, and Southeast Asia, while reducing reliance on controlled maritime routes.

Before the US NFP, the USD/JPY is likely to decrease to roughly 132.00

Alina Haynes

Aug 05, 2022 14:49

截屏2022-08-05 上午9.50.18.png 

 

The difficulties that the USD/JPY pair met around 133.00 during the Asian session are now in full force. As investors predict a disappointing result from the US Nonfarm Payrolls (NFP) data, the asset has printed a low of 132.77 and is projected to decrease further to about 132.00.

 

JP Morgan experts projected that the US Nonfarm Payrolls (NFP) will be poorer than expected at 200K in the July labor market statistics, compared to the consensus expectation of 250k jobs gained in the month. The US economy produced 372k new jobs in the labor market in June. The labor market is under great pressure as a result of data showing a continued fall in job creation. The unemployment rate, though, will be constant at 3.6 percent.

 

Increased labor market dangers are a result of rising interest rates and their compounding impacts. Due to pricey dollars, business players are unable to invest without reluctance. Low investment possibilities cannot thus speed the process of creating jobs.

 

Despite the Federal Reserve (Fed) policymakers' enhanced interest rate ambitions, the US dollar index (DXY) has thrown up the support of 106.00. According to Cleveland Fed President Loretta J. Mester, ending the policy tightening program without detecting a decline in the inflation rate for several months is not conceivable at interest rates above 4 percent .

 

Tokyo's entire household expenditure has dramatically climbed from the previous report of -0.5 percent and the predictions of 1.5 percent to 3.5 percent. As an inflation indicator, the economic data may aid the yen bulls. The economic data have greatly improved, which means that the inflation rate may climb much further. The findings may, however, be largely impacted by growing energy expenditures. However, a hike in the labor cost index is shortly to come in order to keep the inflation rate over 2 percent.


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