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On June 17, Wu Qing, Chairman of the China Securities Regulatory Commission (CSRC), stated that the CSRC will continue to deepen the reforms of the ChiNext and Innovation Boards, implement the strategic deployment for developing future industries, and support the listing of more "hard technology" companies in fields such as quantum technology, biomanufacturing, and androids. At the same time, the CSRC will orderly promote the deepening of reforms on the ChiNext board, increase support for new consumption and modern service industries, and better serve the development of growth-oriented innovative and entrepreneurial enterprises.June 17th - Yadea Technology Group and Cainiao Network have recently reached a digital cooperation agreement, and the two parties held a launch meeting for the parts supply and sales platform project. In this cooperation, Cainiao will assist Yadea in building a "flexible supply chain system."On June 17, Wu Qing, Chairman of the China Securities Regulatory Commission (CSRC), stated in his keynote speech that the CSRC strongly supports mergers and acquisitions (M&A) and refinancing of listed companies. He further emphasized the need to stimulate M&A activity, deepen refinancing reforms, and support eligible Hong Kong-listed companies to list domestically.On June 17, Wu Qing, Chairman of the China Securities Regulatory Commission (CSRC), stated that the CSRC will release guiding opinions on regulating the development of artificial intelligence in the capital market at an appropriate time.June 17th - XREAL officially launched its first lightweight spatial computing XR glasses, the XREAL AURA, and announced that overseas pre-orders are now open. This product, developed in collaboration with Google and Qualcomm, is a next-generation spatial computing glasses offering high-performance spatial vision and AI interaction. It is planned to launch in the US, UK, Japan, Canada, and South Korea in the fall of 2026, followed by expansion to more markets including Europe.

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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