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On August 27th, the U.S. Customs and Border Protection (CBP) released a preliminary version of its announcement on additional tariffs on Indian goods, pursuant to an executive order signed by President Trump earlier this month. The announcement is scheduled to be officially released and take effect on the 27th. The announcement states that, effective at 12:01 a.m. Eastern Time on the 27th, the U.S. will impose an additional 25% ad valorem tariff on Indian goods imported for consumption or for withdrawal from storage for consumption. Combined with the additional tariffs announced on the 6th, the overall tariff rate for Indian goods exported to the U.S. will be 50%. Some Indian exporters have reported that many American customers have canceled their orders due to the U.S. governments tariff measures.Country Garden Services (06098.HK): Revenue in the first half of the year was RMB 23.19 billion, a year-on-year increase of 10.2%; net profit in the first half of the year was RMB 996.6 million, a year-on-year decrease of 30.8%.Trump: More than $1.5 billion has been raised through various forms and political entities since the 2024 election.ANTA Sports (02020.HK): First-half revenue reached 38.544 billion yuan, a year-on-year increase of 14.3%, compared to an estimated 38.09 billion yuan. Net profit reached 7.031 billion yuan, a year-on-year increase of 14.5%, compared to an estimated 6.93 billion yuan. The board of directors declared an interim dividend of HK$1.37 per ordinary share.Futures News, August 27th, Economies.com analysts latest view today: WTI crude oil futures prices fell in the previous trading day, attempting to find a rising low that could form a new upward base, thus strengthening the possibility of a rebound. With support from the EMA50, a short-term bullish corrective wave remains dominant. Meanwhile, the Relative Strength Index (RSI) reached a significantly oversold level, increasing the possibility of the beginning of a positive divergence. A bullish overlap signal also appeared, paving the way for a quick return to normal.

With RBA policy in the forefront, AUD/NZD sustains a weekly low at 1.0900

Daniel Rogers

Aug 01, 2022 12:16

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After dropping near to a crucial support level of 1.0900 during the Asian trading session, the AUD/NZD pair has since recovered considerably. Several offers have been submitted for the asset, and a purchase response is in the process. Strong purchase activity typically indicates that consumers thought the underlying product was a wise investment.

 

The cross is turning upwards as investors prepare for forceful words from the Reserve Bank of Australia (RBA). For the third time in a row, RBA Governor Philip Lowe is expected to increase the Official Cash Rate (OCR) by 50 basis points (bps). Australia's inflation rate has increased to 6,1% as of the second quarter of CY2022, which has led to increased pricing pressure. Since the prices of commodities like oil and food continue to fluctuate, the inflation rate has not yet run out of room to rise.

 

In today's session, the release of the Caixin Manufacturing PMI data is quite important. The economic data is predicted to register at 51.5, slightly below the prior level of 51.7. A reduction in Chinese industrial activities will have an impact on the antarctic because Australia is China's main trading partner.

 

On the New Zealand front, kiwi bulls anticipate the release of employment numbers on Tuesday. According to projections, the jobless rate will drop from the previously reported 3.2 percent to 3.1 percent. In addition, the Employment Change may increase from the previous 0.1 percent to 0.4 percent.


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