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On August 2, Irans Mehr News Agency quoted an Iranian military official as saying that US President Trumps claim that Irans demand to stop its attacks was "a new lie." The official stated, "Whether he continues his aggression or retreats, our forces are on high alert and prepared for anything. If confrontation is inevitable, the battlefield will decide everything, and then everyone will understand who holds the power and who has the final say."August 2nd - According to Shenzhen Railway authorities, since the start of the 2026 summer railway travel season on July 1st, as of July 31st, Shenzhen Railway has handled a total of 17.183 million passenger trips, with an average daily passenger volume of 573,000. Among them, 8.753 million passengers departed and 8.43 million passengers arrived.On August 2nd, the Ministry of Health of the Democratic Republic of Congo (DRC) announced that as of July 31st, the country had reported a total of 3,674 confirmed cases of Ebola, with 1,621 deaths. The World Health Organization (WHO) issued a statement on its website on August 1st, stating that this outbreak has become the largest Ebola outbreak on record in the DRC. The WHO stated that the outbreak in the DRC is still intensifying, with the number of cases and deaths continuing to rise, and the spread has expanded from the initial Monbovalu health district in Ituri province to 49 health districts in five provinces. Armed conflict, population displacement, and insufficient medical facilities in some areas have combined to increase the risk of further spread. The WHO has assessed the risk of the outbreak in the DRC as "very high," while stating that the DRC government is working with the WHO and other partners to advance measures such as outbreak monitoring, patient treatment, and contact tracing, but significant strengthening of all response efforts is still needed to contain the spread of the epidemic.The China Earthquake Networks Center officially reported that a magnitude 3.1 earthquake occurred at 11:15 on August 2 in the Tanggula area of Haixi Prefecture, Qinghai Province (33.43 degrees north latitude, 91.15 degrees east longitude), with a focal depth of 10 kilometers.August 2nd - According to Yonhap News Agency, Hyundai Motor Company and Kia Motors announced on Sunday that the two South Korean automakers sold over 100,000 electric vehicles in Europe in the first half of this year, aiming to strengthen their position in the region. Hyundai and Kia stated that they plan to sell a total of 131,032 electric vehicles in Europe in the first half of 2026, a significant increase of 41.8% from 92,365 vehicles sold in the first half of the year. The two companies expect that if the current sales momentum continues until the end of the year, annual electric vehicle sales in Europe will exceed 200,000 units for the first time since they entered the European electric vehicle market in 2014. As of May this year, their cumulative electric vehicle sales in Europe surpassed the 1 million mark.

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.