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On March 8th, Wang Yi stated that Taiwan has been Chinese territory since ancient times, and it has never been, is, or will ever become a "country." Taiwans return to China was a result of the Chinese peoples victory in the War of Resistance Against Japan and also a fruit of victory in World War II. A series of international legal documents, including the Cairo Declaration, the Potsdam Declaration, the Japanese Instrument of Surrender, and UN General Assembly Resolution 2758, have firmly established Taiwans status. Any attempt to create "two Chinas" or "one China, one Taiwan" internationally is doomed to failure.On March 8th, Wang Yi stated that the Taiwan issue is Chinas internal affair and the core of Chinas core interests; this red line cannot be crossed or trampled upon. We will never allow anyone or any force to separate Taiwan, which was liberated more than 80 years ago, from China again. The international community has reached an overwhelming consensus on upholding the one-China principle. The historical process of resolving the Taiwan issue and achieving the complete reunification of the motherland is unstoppable. Those who follow this path will prosper, and those who oppose it will perish.On March 8, Wang Yi stated that China and India are important neighbors, both located in the South, and share profound cultural ties and broad common interests. Mutual trust and cooperation between the two countries are conducive to common development, while division and confrontation are not beneficial to the revitalization of Asia. Both sides should follow the direction set by their leaders, eliminate interference, and move towards each other.On March 8, Wang Yi said that he hopes the Philippines, during its ASEAN chairmanship this year, will recognize its responsibilities, not be misled by its own interests, demonstrate its due commitment, and play a positive role in promoting regional peace and stability.On March 8, Wang Yi said in response to a question about the South China Sea issue that peace, cooperation, and friendship are the new narrative for the South China Sea. Stirring up trouble is unpopular, and creating trouble out of nothing has no place in the market.

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

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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.