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July 24th - As soaring memory chip prices continue to drive up the overall cost of iPhones, Apple is pressuring its upstream supply chain to significantly reduce the price of OLED screens from its display panel suppliers. According to foreign media reports on July 24th, Apple has proposed to its panel suppliers that the OLED panels used in the iPhone 18 Pro Max be priced at approximately $70, a decrease of about 20% compared to its predecessor. Industry insiders estimate that Samsung Display and LG Display currently supply panels at an average price of $66.50, even lower than Apples proposed price.Goldman Sachs raised its 12-month target for the TOPIX index from 4,400 to 4,500.July 24 - General AI robot company Logic Innovation announced that it has initiated the process of listing in Hong Kong.Melius Research: Raises its price target for AMD (AMD.O) from $540 to $660.On July 24th, a representative from Topsports (06110.HK) stated, "Topsports promotional schedules across all channels strictly adhere to established sales plans. The company conducts promotional activities based on factors such as season, product lifecycle, and platform activities, which is common industry practice and not a special arrangement for individual cases. There is absolutely no low-price dumping." However, a search of the Topsports mini-program reveals that Nike does indeed have discounts of up to 50% on the platform, but Adidas also currently has similar promotions. On July 22nd, Topsports announced that its online sales of Nike products in mainland China will be completely terminated from January 1, 2027.

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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