EUR/USD 1.14210
-0.015%
Gold 4029.15
0.313%
Oil 69.598
-0.963%
USD/JPY 162.598
0.411%
GBP/USD 1.32556
-0.014%
GBP/JPY 215.540
0.406%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
As of the 2:30 closing bell, the main Shanghai gold futures contract rose 0.80% to 882 yuan/gram, the main Shanghai silver futures contract rose 3.43% to 14,578 yuan/kilogram, and the main SC crude oil futures contract fell 1.17% to 457 yuan/barrel.July 1st - European Central Bank (ECB) Governing Council member Dorenz stated that if the situation in the Middle East does not escalate further during the next policy meeting, the ECB may maintain interest rates unchanged at its next meeting. Speaking at the Sintra Forum on Tuesday, he said that pausing rate hikes would be reasonable if energy prices stabilize, commodity volatility does not spread, and a second wave of effects does not materialize. "If oil and gas prices remain low, there is no need to rush into further tightening," he said. "Based on the current data, a wait-and-see approach before September may be appropriate." With several weeks until the next policy meeting, markets remain volatile, and Dorenz warned that the situation could change at any time, and geopolitical risks have not completely subsided. "Hostility has resurfaced in recent days," he said. "While all parties hope for a lasting reconciliation, the conflict is unlikely to be resolved in the short term, and uncertainty remains high."Market news: Republican hardliners are blocking the House of Representatives efforts to advance a defense policy bill in protest against Trumps legislative proposals regarding voter identity verification.ECB Governing Council member Dorenz: Based on current data, it may be appropriate for the ECB to pause interest rate hikes in July.ECB Governing Council member Dorenz: If energy prices remain low, there is no urgency to raise interest rates.

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

 截屏2022-08-08 上午11.52.29.png

 

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.

Suggestion