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On September 10th, according to two sources familiar with the matter, the U.S. Department of Justice is investigating whether Nvidia (NVDA.O) attempted to circumvent antitrust scrutiny in connection with a deal signed last year with artificial intelligence chip maker Groq. Groq described the deal at the time as a "non-exclusive licensing agreement" allowing Nvidia to use Groq chips specifically designed by Groq for running AI tasks. As part of the arrangement, Groq CEO Jonathan Ross and COO Sonny Madeira joined Nvidia. AI companies have entered into numerous similar deals, including licensing technology and hiring key personnel from other companies, but without making direct acquisitions. These arrangements often circumvent the automatic government review of traditional mergers and acquisitions, which aims to determine whether a transaction would harm market competition.According to the New York Times, regulators are investigating a licensing agreement between Nvidia and Groq.September 10th - The seventh batch of national centralized procurement of medical consumables will open for bidding today (September 10th) in Tianjin. This round of procurement focuses on digestive interventional medical consumables, including 23 varieties, covering consumables related to gastrointestinal polyp removal and biliary and pancreatic interventional therapy, with a procurement cycle of approximately 3 years. This round of procurement adheres to the principles of "stabilizing clinical needs, ensuring quality, preventing internal competition, and preventing bid rigging," optimizing procurement rules, and balancing the protection of diverse clinical needs with high-quality development of the industry.September 10th - According to Axios, the Trump administration plans to issue $500 refund checks to up to one million people who claim they were overcharged under the Obamacare scheme. These direct deposits will be distributed to residents of 30 states ahead of the November 3rd midterm elections; this comes as Trump heavily promotes the cost savings of his tax cuts and prescription drug program.On September 10th, the World Trade Organization (WTO) released its Goods Trade Barometer on September 9th, showing an index of 102.0, higher than the baseline of 100 and the previous index of 101.7 in June, indicating that goods trade is above trend and continuing to grow. The WTO stated that despite ongoing geopolitical and policy-related uncertainties, global goods trade growth remains resilient. The negative impact of the Middle East conflict continues to be partially offset by strong demand for goods such as artificial intelligence-related electronic components. According to the WTOs rules for compiling the Global Goods Trade Barometer, a value of 100 is the baseline; an index greater than 100 indicates that global goods trade growth is higher than expected, while a value lower than 100 indicates that growth is lower than expected.

The AUD/NZD Exchange Rate Approaches 1.1000 Following a Slight Decline in Kiwi Inflation to 6.9 Percent

Larissa Barlow

Apr 21, 2022 09:40

The AUD/NZD pair is seeing a surge in demand following the release of Statistics New Zealand's annual inflation figure of 6.9 percent. The figures came in somewhat lower than expected at 7%, but the likelihood of another boost in the Reserve Bank of New Zealand's Official Cash Rate (OCR) remain high (RBNZ). Additionally, the quarterly kiwi Consumer Price Index (CPI) fell to 1.8 percent from a prior reading of 2%.

 

RBNZ Governor Adrian Orr increased the OCR by 50 basis points last week (bps). This was the RBNZ's fourth straight rate hike, bringing the OCR to 1.5 percent. The central bank stated in a statement that this was the largest rate hike in more than two decades, with the sole objective of minimizing inflation concerns. A larger-than-expected move by the RBNZ will provide the central bank with additional flexibility in future interest rate decisions. It's worth remembering that the RBNZ has been one of the most aggressive central banks in recent years, rapidly moving the grounded rates to neutral.

 

On the Australian front, the Reserve Bank of Australia's (RBA) officials have not identified any price pressures that would compel the institution to consider rate hikes. Meanwhile, investors are awaiting the release of the S&P Global Manufacturing PMI on Friday. A preliminary estimate of 57.8 is observed, compared to the earlier print of 57.7.

AUD/NZD 

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