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March 6, according to Politico, the European Union will suspend the release of a long-awaited proposal aimed at ending its dependence on Russian fossil fuels and nuclear technology. At the same time, US President Trump seeks to normalize relations with Russia and promote his peace plan in Ukraine. A senior EU official said that the roadmap to reduce dependence on Russian energy is underway, but it will not be submitted as planned later this month. The official said: "We are still advancing the roadmap, it is being prepared, but the timing has changed based on the latest geopolitical developments. The specific date will be announced in due course."Mixue Group (02097.HK) rose more than 10% during the day, and has risen 62% since its listing four days ago, with a turnover of more than HK$170 million.Cheung Kong Holdings (00001.HK) rose nearly 12% and closed up nearly 22% yesterday, with a turnover of over HK$2.6 billion.Mixue Group (02097.HK) rose by more than 7%, with its share price reaching HK$319 and a total market value of more than HK$120 billion.Futures March 6 news, PTA market fell to the lowest point of the year, mainly due to cost reduction and weak demand. Trade frictions escalated, US crude oil inventory increased more than expected, investors worried that OPEC+ decided to increase production in April, WTI crude oil futures fell to the lowest point since May 23. In early March, there were still not many new orders in the terminal textile industry, and the loom operation rate was lower than the same period in previous years, resulting in weak production and sales of polyester and polyester operation load lower than previous market expectations, and weak demand for PTA. At present, market confidence is insufficient, and negative fundamental news prevails. It is estimated that the short-term PTA market will be weak.

As focus shifts to RBA policy, the AUD/NZD crosses 1.120

Alina Haynes

Jul 29, 2022 10:54

 截屏2022-07-29 上午9.50.25.png

 

After turning around at the crucial support level of 1.1100 on Thursday, the AUD/NZD pair has since moved sideways. The narrow consolidation range between 1.1105 and 1.1119, which was created during the Asian session, has been violated by the cross. The Reserve Bank of Australia is expected to increase interest rates by 50 basis points (bps) for the second time in a row (RBA).

 

The RBA will review the Official Cash Rate at its upcoming monthly monetary policy meeting (OCR). According to a Reuters poll, RBA Governor Philip Lowe will increase the OCR for the third time in a row by 50 basis points. The OCR will rise to 1.85 percent as a result. Policy tightening is required in view of the growing pricing pressures in the Australian economy. In the second quarter of CY2022, the Australian Consumer Price Index (CPI) increased to 6.1 percent.

 

The inflation rate was higher than the prior measurement of 5.1 percent even though it remained 10 basis points below the consensus. By the end of September, the cash rate is predicted by 19 of the 31 economists surveyed by Reuters who have a long-term perspective on rates to be at 2.35 percent or higher. This raises the possibility of the expected fourth consecutive rate rise of 50 basis points.

 

Kiwi bulls in New Zealand have not benefited from rising ANZ- Roy Morgan Consumer Confidence statistics. The qualitative data now stands at 81.9, an increase over the prior report's 80.5. The labor market figures for New Zealand will be released next week, which is crucial.


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