• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 30th, Qu Guochun, Director of the Equipment Industry Development Center of the Ministry of Industry and Information Technology, stated at the 2026 Equipment Power Forum that after ten years of development, my countrys high-end equipment industry has seen "accelerated progress in catching up, a gradual increase in keeping pace, and a rapid emergence of leaders." The number of key areas at the worlds leading and advanced levels has reached 60.8%, and the industrys scale accounts for over 60% of the overall equipment manufacturing industry. The international competitiveness of the high-end equipment industry has significantly improved. Specifically, intelligent connected new energy vehicles, rail transit equipment, power equipment, information and communication equipment, new energy equipment, aerospace equipment, high-tech ships, and overseas engineering equipment are already at the worlds leading level. Engineering machinery, building materials equipment, and computer equipment are at the worlds advanced level. However, gaps still exist in areas such as industrial machine tools, agricultural machinery, aviation equipment, robots, instruments and meters, semiconductor equipment, and biomedical equipment.On May 30, local time, Canadian Prime Minister Mark Carney met with Wang Yi, member of the Political Bureau of the CPC Central Committee and Minister of Foreign Affairs, in Ottawa on May 29. Wang Yi conveyed greetings from Chinese leaders to Carney, stating that the Prime Ministers successful visit to China had corrected the course of China-Canada relations and put them back on track. The two leaders decision to build a new type of strategic partnership between China and Canada provides strategic guidance for the development of bilateral relations. Facts have proven that the turnaround in China-Canada relations is in the interests of both countries, meets the expectations of all parties, and is the right choice for Canada. There are no fundamental conflicts of interest between the two countries, and there is enormous room for cooperation. China is willing to work with Canada to respect each other, meet each other halfway, seek common ground while reserving differences, strengthen communication, and deepen cooperation to promote the healthy, stable, and sustainable development of bilateral relations. Both sides should uphold multilateralism, adhere to the rule of international law, and maintain strategic autonomy, supporting free trade and an open world economy, which will benefit the people of both countries and inject stability from China and Canada into a volatile world.On May 30, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, held talks with Canadian Foreign Minister Anand in Ottawa on May 29. Wang Yi stated that China is willing to work with Canada to maintain the correct direction of bilateral relations. He emphasized deepening cooperation in areas such as energy, finance, and law enforcement, and welcomed Canadas participation as the guest of honor at the China International Import Expo. He also stressed the importance of vigorously promoting cultural and local exchanges to solidify the public opinion foundation of bilateral relations. Finally, he called for strengthening multilateral communication and coordination to jointly reform and improve global governance.The Central Bank of the Philippines predicts that the annual inflation rate in May is likely to be between 7.1% and 7.9%.U.S. Defense Secretary Hergsays said the bold move was out of strategic necessity.

NZD/USD Drops Below 0.6620 Due to Fed's Progressive Rate Hike Expectations

Larissa Barlow

Apr 25, 2022 10:40

The NZD/USD pair has fallen below last week's low of 0.6626, extending Friday's losses. The asset has fallen sharply in the last two trading sessions after repeatedly failing to sustain above the round level resistance of 0.6780. The risk-off market environment has lowered demand for risk-perceived assets, and given the price action, a downward trend is projected to take the asset to approach yearly lows near 0.6529.

 

Since Thursday's announcement of the New Zealand Consumer Price Index (CPI), the kiwi has been underperforming against the greenback. The annual New Zealand CPI came in at 6.9 percent, missing expectations of 7.1 percent and matching the prior print of 5.9 percent. Although a lower-than-expected inflation reading weighed on the kiwi, it did not diminish the likelihood of further rate hikes by the Reserve Bank of New Zealand (RBNZ). RBNZ Governor Adrian Orr stated in his most recent monetary policy statement that inflation is soaring and that raising interest rates is the only way to mitigate inflation risks. As a result, the RBNZ's policymakers will maintain their hawkish advice and push inflation below the target rate of 2% sooner.

 

Meanwhile, increased probabilities of a Federal Reserve (Fed) rate hike are pushing the US dollar index (DXY) higher. The DXY is comfortably over 101.00 and is projected to extend gains this week as investors anticipate higher Durable Goods Orders. Monthly Durable Goods Orders are expected to come in at 1%, compared to the prior estimate of -2.1 percent. Additionally, investors will retreat behind the greenback in the run-up to the Federal Reserve's monetary policy statement in May.

NZD/USD

image.png