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Microsoft: We are investigating an issue where users in North America have reported problems using Microsoft Copilot.January 16th - Today, concrete pouring began on the nuclear island of Unit 1 at the Jiangsu Xuwei Nuclear Power Plant, a project of China National Nuclear Corporation (CNNC). This marks the start of the main construction phase for the worlds first integrated nuclear energy utilization project that couples the "Hualong One" pressurized water reactor with a high-temperature gas-cooled reactor, officially opening a new chapter in my countrys nuclear energy transformation from primarily power generation to diversified supply.On January 16th, Hong Kong Financial Secretary Paul Chan attended a special meeting of the Legislative Councils Finance Committee to discuss whether the government would establish a mechanism to review the stock stamp duty. Chan stated that stamp duty is an important part of government revenue, and the increase in stamp duty this fiscal year mainly came from stocks, while property stamp duty was significantly reduced due to the still unstable market conditions. He believes this must be considered from the perspective of public finance and public interest. At the same time, the government will consider Hong Kongs competitiveness compared to other regions to avoid business losses. Chan reiterated that there will be no further reduction in the stock stamp duty unless the external environment makes Hong Kong less competitive. According to previous research, the current stamp duty level is appropriate in terms of transaction volume and competitiveness. As for new areas such as real estate funds and exchange-traded funds (ETFs), the restrictions will be more lenient, but the bottom line of collecting all due taxes will be upheld, and the feelings of the general public will not be ignored.January 16th - According to the National Healthcare Security Administration, as of now, all 31 provinces (autonomous regions and municipalities) and the Xinjiang Production and Construction Corps have completed the launch of the medical insurance drug price comparison mini-program, achieving full coverage and accessibility for all citizens, allowing insured individuals across the country to enjoy convenient price comparison services. The medical insurance drug price comparison mini-program relies on data resources from designated medical institutions nationwide, ensuring timely data updates, comprehensive functions, and wide coverage, providing a one-stop solution for drug price comparison. Insured individuals can search for their local medical insurance mini-program on WeChat or Alipay, or access the medical insurance app to use the medical insurance drug price comparison mini-program. After entering the drug name, they can instantly obtain core information such as the price range, inventory status, and manufacturer of the drug at designated pharmacies in their region. The mini-program supports filtering and sorting by multiple dimensions, including price level and distance.Australian Treasurer Chalmers: Supports Reserve Bank of Australia Governor Bullocks signing of a letter supporting Federal Reserve Chairman Powells decision.

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.