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April 10th - Bond traders slightly reduced their bets on a single Federal Reserve rate cut this year after data showed rising gasoline prices due to the Iran war and accelerating U.S. inflation in March. Fridays interest rate swap market pricing indicated a roughly one-third probability of a 25-basis-point rate cut by the Fed this year, little changed from before the data release. Following the report, U.S. Treasuries edged lower, with yields across all maturities rising two to three basis points. Tom di Galoma, managing director of Mischler Financial Group, stated, "Todays CPI data wont support bond prices because next months inflation report will bring more trouble for investors and the Fed."Brazils oil regulator, ANP, predicts that Brazils proven oil reserves will increase by 3.84% to 17.5 billion barrels by 2025.April 10th - The 14th round of negotiations for the second phase of the China-Korea Free Trade Agreement (FTA) was held in Seoul, South Korea, from April 6th to 10th, 2026. Both sides earnestly implemented the important consensus reached by the two heads of state on accelerating the second phase of negotiations, and conducted in-depth discussions on issues such as cross-border trade in services, investment, and financial services, as well as matters related to the negative list. Positive progress was made in the negotiations.The main contract for low-sulfur fuel oil (LU) fell by 2.00% during the day, and is currently trading at 4,556.00 yuan/ton.Lockheed Martin (LMT.N): Following the framework agreement signed in January, it has reached a $4.7 billion contract with open terms.

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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