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1. Sources say Anthropic is considering developing its own chips. 2. xAI files lawsuit against Colorados new AI bill. 3. Samsung will invest $4 billion in Vietnam to build a chip packaging plant. 4. HarmonyOSs March retail sales figures for new energy passenger vehicles revealed: 26,582 units sold in a single month. 5. Tesla is developing a new, smaller, and more affordable electric SUV. 6. China Passenger Car Association: March 2026 national passenger car retail sales reached 1.648 million units, a year-on-year decrease of 15.0%. 7. Omdia: Q1 global PC shipments increased by 3.2% year-on-year, but rising memory and SSD prices squeezed full-year profits. 8. New regulations on internet platform pricing will take effect tomorrow: three departments require strict regulation of subsidy practices and a firm curb on vicious price competition. 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Most London base metals fell, with LME zinc up 0.99% to $3,325.0/ton, LME tin up 0.42% to $47,825.0/ton, LME copper down 0.11% to $12,695.5/ton, LME aluminum down 0.22% to $3,447.5/ton, LME nickel down 0.50% to $17,215.0/ton, and LME lead down 0.82% to $1,925.5/ton.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 4.7 occurred near Hejing County, Bayingolin Mongol Autonomous Prefecture, Xinjiang, at 06:25 on April 10. The final result is subject to the official rapid report.US-Israel-Iran Conflict: ① Iran 1. An Iranian military spokesperson claimed to have shot down at least one of the enemys most advanced fighter jets. 2. An Iranian military spokesperson stated, "We are prepared for a protracted war." 3. The head of Irans forensic organization stated that more than 3,000 people have died nationwide during the conflict. 4. 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Kamal Kharrazi, chairman of Irans Strategic Council on Foreign Relations, died from his injuries. ② United States 1. Trump asked Netanyahu to reduce bombing operations in Lebanon during a phone call. 2. US officials revealed that the State Department will hold a meeting next week to discuss progress in ceasefire negotiations with Israel and Lebanon. 3. The US lost eight Reaper drones in the Middle East this month. 4. US Deputy Secretary of State Landau summoned Iraqi Ambassador to the US Nizar Hirullah today, strongly condemning attacks on US diplomatic personnel and facilities launched by Iraqi militias. 5. Trump said he had asked Netanyahu to be "more discreet" in his actions in Lebanon. ③ Israel 1. Israel Defense Forces: Expanded ground operations in southern Lebanon over the past week. 2. According to Reuters: The Israeli military claims to have killed Hezbollah leader Naeem Qassem, though Hezbollah has not yet confirmed this. 3. 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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.