EUR/USD 1.15080
-0.199%
Gold 4055.29
0.109%
Oil 78.752
-5.277%
USD/JPY 157.162
-1.265%
GBP/USD 1.34321
-0.327%
GBP/JPY 211.092
-1.593%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Market news: Japanese IT services provider NTT Data is considering investing approximately $9 billion in Japans data center sector.August 4th - According to Nikkei, the Japanese governments proposal to reduce the food consumption tax to 1% starting next April for a period of two years was approved by the ruling partys main committee on Monday, taking a step closer to fulfilling its campaign promise, although the source of funding remains uncertain. Itsunori Onodera, chairman of the Tax System Committee, stated that the Liberal Democratic Partys Tax System and Social Security Committee has passed the draft. It is expected to be submitted to the partys highest decision-making body for deliberation as early as Wednesday. Prime Minister Sanae Takaichis government hopes to obtain cabinet approval at the beginning of the month and submit the relevant bill to the extraordinary session of the Diet in the autumn. The proposal aims to lower the tax rate from 8% to 1% starting in April. Starting in June, approximately 600 billion yen (about US$3.82 billion) in cash subsidies will be distributed annually to low- and middle-income families, with the amount fluctuating according to income levels. Takaichi has not yet specified the specific source of funding to fill the consumption tax revenue gap. The government plans to utilize non-tax revenue, tax revenue growth, and funds saved from reviewing tax incentives and subsidy policies.According to Nikkei: Japans ruling party is close to lowering the food tax rate from 8% to 1%.On August 4th, the U.S. Centers for Disease Control and Prevention (CDC) confirmed on August 3rd that Michigan had reported two deaths related to cyclosporidiosis. Both victims had serious underlying health conditions. This is the first reported death related to cyclosporidiosis since its widespread outbreak in the U.S. in May of this year.Snap (SNAP.N) shares rose more than 9% in after-hours trading.

NZD/USD falls rapidly from 0.6260 when the RBNZ announces a decline in inflation projections to 3.07 percent

Daniel Rogers

Aug 08, 2022 12:00

 截屏2022-08-08 上午11.52.29.png

 

The NZD/USD pair has encountered selling pressure while attempting to surpass the immediate resistance level of 0.6260. The asset has seen bids after the Reserve Bank of New Zealand (RBNZ) announced inflation estimates at 3.07 percent, down from 3.29 percent previously. It could be an indication of waning price pressure, but additional evidence is still needed to support the argument.

 

Price pressures in the New Zealand economy are increasing and have not yet shown signs of weariness. A June report indicates that an inflation rate of 7.3% is adequate to generate headwinds for families. The RBNZ is consistently escalating its policy tightening measures to combat the same. RBNZ Governor Adrian Orr has already increased the Official Cash Rate by 2.50 percentage points.

 

On the front of the US dollar, the US dollar index (DXY) has returned all intraday gains and is currently trading near the day's open at 106.60. While attempting to break over the crucial resistance level of 106.80, the DXY has encountered selling pressure. This week, investors' attention is centered on Wednesday's release of the US Consumer Price Index (CPI).

 

The annual inflation rate is projected to continue at 8.7 percent, down from 9.1 percent in the previous report. Oil prices have been on a downward trend in July, which may be the determining factor for a significant decline in the price increase index. While the US CPI excluding volatile food and oil prices may increase from 5.9 percent to 6.1 percent, the previous reading was 5.9 percent.

Suggestion