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According to Hong Kong Stock Exchange documents, Lijing Innovation Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.Chevron (CVX.N) CEO: The company is in discussions with multiple parties, potentially involving pipeline projects outside of Iraq.July 31 – The US is deepening its support for Japans efforts to stabilize the yen, with the two countries coordinating in the foreign exchange market to a level not seen in decades. On Thursday, Japan appeared to have intervened by buying yen, estimated at around $53 billion; simultaneously, US authorities solicited exchange rate quotes from banks, seen by the market as a precursor to intervention. US Treasury Secretary Bessant stated that the yen was "severely undervalued" and that excessive volatility was unhealthy. Nobuyasu Atago, chief economist at Rakuten Securities Research Institute and a former Bank of Japan official, said, "Bessants influence is very important. The US is now becoming more cooperative with Japans intervention." The timing of Thursdays actions also drew market attention, occurring between the Federal Reserve and the Bank of Japans interest rate decisions, leading to speculation that monetary policy might also be part of coordination between Tokyo and Washington. On Friday, Japanese officials remained ambiguous about whether intervention would be implemented, but they clearly emphasized the coordinated support from the US. Jun Mimura, Japans top official in charge of exchange rate affairs at the Ministry of Finance, stated that the US was providing more than just "moral support." Atago said, "I cant help but feel that they are considering not only coordination on exchange rates but also tacit cooperation on monetary policy."Chevron (CVX.N): Has increased the nominal oil production capacity of its third-generation plant in the Tengiz oil field to 320,000 barrels per day.Chevron (CVX.N) CEO: CPC pipeline is currently operational and ships are still loading this week.

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.

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