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On July 6th, Jeff, senior macro strategist at BNY Mellon, pointed out that weaker U.S. labor market data and improved inflation data have reduced the urgency for further tightening by the Federal Reserve, but this does not address whether the slowdown in growth is under control or whether policy expectations have been over-adjusted. He stated, "The global narrative is becoming less unified." In the U.S., the question is whether the Fed can remain patient if inflation risks do not re-emerge; while in Europe, the focus is shifting from emergency inflation management to issues such as economic growth, fiscal credibility, and defense financing.Jefferies: Lowered its price target for Newmont Mining (NEM.N) from $158 to $146.On July 6th, according to Qichacha APP, Jiangxi Beiqi Changhe Automobile Co., Ltd. was recently established. The legal representative is Zhu Youfu, and the registered capital is 100 million yuan. Its business scope includes: automobile sales, sales of new energy vehicles, marketing planning, research and development of auto parts, and manufacturing of auto parts and accessories. Qichachas equity penetration analysis shows that the company is wholly owned by Beijing Automotive Group Co., Ltd.July 6 - Analog Devices (ADI), a major analog chip manufacturer, recently issued another notice to its customers, stating that rising demand has led to tight supply, with lead times for some products reaching up to six months. If customers fail to place orders six months in advance, they may face even longer delivery times in the future.HSBC raises its target price for UnitedHealth Group (UNH.N) from $300 to $380.

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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