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July 31 – This morning, the National Development and Reform Commission (NDRC) held its July press conference. An NDRC spokesperson stated that the 109 major projects outlined in the 15th Five-Year Plan are being implemented at an accelerated pace. This year, a number of major projects have commenced, including the Three Gorges Waterway New Channel, the Guangzhou New Airport, and the Shangbaishi Water Conservancy Project in Fujian. Preliminary work on projects such as the east and west sections of the Xinjiang-Tibet Railway and the modernization of the Dujiangyan Irrigation System in Sichuan is being expedited, with the aim of starting construction and generating tangible results as soon as possible.The Central Bank of the Philippines predicts that the annual inflation rate in July is likely to be between 5.6% and 6.6%.On July 31, the National Development and Reform Commission (NDRC) held a briefing on the development and reform situation in the first half of 2026 on July 30. The meeting emphasized that the development and reform system must effectively carry out all aspects of development and reform work to promote sustained, innovative, and positive economic development and ensure the achievement of the annual targets. This includes accelerating the construction of a modern industrial system, adhering to the principle of tailoring measures to local conditions and implementing differentiated policies to cultivate and strengthen emerging and future industries; deeply implementing the "Eastern Data, Western Computing" project, coordinating the layout and orderly construction of computing facilities; accelerating the creation of a number of benchmark applications for artificial intelligence, providing rapid empowerment to key industries such as manufacturing, agriculture, and energy, and accelerating the legislative process for an artificial intelligence law; promoting the high-quality and efficient development of the service industry, and driving quality improvement, cost reduction, and carbon reduction in key industries.On July 31, Jiang Lue, spokesperson for the China Coast Guard, stated that the Xiushan frigate formation of the China Coast Guard conducted routine law enforcement patrols in the waters east of Taiwan on July 31. Since July, the Xiushan frigate formation has continuously strengthened control over the relevant waters, effectively ensuring normal navigation and operational order, and earnestly safeguarding the legitimate rights and interests, as well as the lives and property of Chinese citizens, including compatriots in Taiwan. The China Coast Guard will continue to strengthen law enforcement patrols in waters under Chinese jurisdiction and resolutely safeguard national territorial sovereignty and maritime rights.July 31 – Korea Investment & Securities stated that Samsung Electronics increasing shift towards long-term memory chip supply contracts is improving earnings visibility and supporting a stronger profit outlook. The brokerage noted that the companys second-quarter results exceeded expectations as memory chip prices surged, while new hyperscale cloud service provider agreements helped stabilize demand and capacity utilization. The brokerage raised its target price for Samsung by 10% to 650,000 won to reflect the improved earnings outlook and potential upside for HBM pricing, while maintaining a buy rating.

As market confidence improves, the USD/CAD pair stabilizes near 1,3000, bringing attention to Canada's inflation

Alina Haynes

Jul 18, 2022 11:58

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The USD/CAD pair fluctuates within a constrained range of 1.3006-1.3023 during the Asian session. Despite a rise in market participants' risk appetite, the asset is doing poorly. Investors should be concerned that the USD/CAD pair has experienced only a little dip while the US dollar index (DXY) is falling sharply. This implies that the Canadian dollar is weaker as well and that the asset's auction performance was underwhelming.

 

The strengthening of the Canadian dollar may be related to higher inflation rate projections. The market forecast for the upcoming economic report on Wednesday is 8.8%, which is much higher than the forecast for the most recent release of 7.7%. The pace of inflation in the Canadian economy is surging uncontrollably. It mostly has an impact on household income.

 

In the meantime, as market mood has improved, the US dollar index (DXY) has dropped under Friday's low of 107.92. Investors believe that the United States has experienced its peak in pricing pressure. But according to James Bullard, president of the Federal Reserve Bank of St. Louis, inflation might come as a pleasant surprise.

 

Due to growing economic worries, oil prices are plummeting precipitously on the energy market. The goal of major central banks is to bring about price stability in their respective economies. As a result, policy tightening is necessary to address the inflation problem. Given that the forecasts for oil demand have been significantly revised downward, this has a negative effect on market mood. Being the biggest oil supplier to the US, Canada has suffered as a result of falling oil prices, which has hurt the loonie bulls.


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