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On October 25th, the U.S. federal government shutdown entered its 24th day. More and more federal employees forced to take unpaid leave are facing the dilemma of not being able to pay their bills or mortgages, and many are forced to queue up at food banks for assistance. Jacobs, president of the local CDC union, stated that both parties are using the livelihoods of federal employees as bargaining chips in political negotiations, and that the current chaotic situation is unprecedented.On October 25, Lizhong Group responded to investors on an interactive platform, saying that the second phase of the companys project to produce 3.6 million ultra-lightweight aluminum alloy wheels annually in Mexico, with an output of 1.8 million wheels, has now been put into initial production. The company is actively promoting the running-in of the production line and the release of production capacity, striving to achieve the goal of full production and sales as soon as possible.According to news on October 25, from January to September this year, the cumulative transaction volume of new houses in Foshan was 23,611 units and 2.8425 million square meters, which was lower than the transaction volume in the same period last year; but the cumulative transaction volume of second-hand houses was 40,990 units and 5.008 million square meters, an increase of 3.3% and 4.3% year-on-year respectively.On October 25, Russian Presidents Special Representative Kirill Dmitriev said during his visit to the United States on the 24th that he believed that all parties were "very close" to reaching a diplomatic solution to the Ukrainian issue, and Russia was open to Ukraine obtaining third-party "security guarantees" in the future.According to the Suzhou Release WeChat official account on October 25th, a series of events were held in Zhangjiagang High-tech Zone (Tangqiao Town) on the morning of October 24th, including the groundbreaking ceremony for the dishwasher smart manufacturing project of Xiaomis ecological chain company, Qingmei Technology; the opening of the Zhangjiagang High-tech Zone Cross-border Empowerment Center; and the signing of the personal care small appliance smart manufacturing project of Xiaomis ecological chain company, Xiaobei Technology. According to reports, the dishwasher smart manufacturing project of Xiaomis ecological chain company, Qingmei Technology, has a total investment of 500 million yuan, with a planned annual production capacity of 500,000 dishwashers. Upon reaching full production, it is expected to generate an annual output value of 800 million to 1 billion yuan. The personal care small appliance smart manufacturing project of Xiaomis ecological chain company, Xiaobei Technology, has a total investment of 500 million yuan. Upon reaching full production, it is expected to have an annual production capacity of 15 million units and an annual output value of 2.4 billion yuan.

NZD/USD Nears 0.6220 Amid a Weak U.S. Dollar, With New Zealand Inflation in Sight

Daniel Rogers

Apr 19, 2023 15:54

 NZD:USD.png

 

After defending the round-level support at 0.6200, the NZD/USD pair exhibited a lackluster performance during the Asian session. As the US Dollar Index (DXY) performs unfavorably, the Kiwi asset approaches the 0.6220 level of resistance.

 

S&P500 futures have extended their losses because investors are concerned about the future performance of stocks, indicating a cautious performance. US commercial institutions have displayed a mixed performance thus far. In the aftermath of March's turmoil and restrictive credit conditions, investors were initially apprehensive about the quarterly performance of banking stocks.

 

Following a substantial retracement, the US Dollar Index (DXY) continues to trade above 101.78. In spite of hawkish remarks from Federal Reserve (Fed) policymakers, the USD Index failed to exhibit a power-packed movement. As reported by Reuters, the president of the Federal Reserve Bank of St. Louis, James Bullard, advocated for the continuation of the central bank's policy tightening in view of the continued strength of labor market data.

 

In the second half of 2023, the probability of a recession decreases, according to Fed policymakers, as robust labor demand drives global consumption.

 

Thursday's quarterly inflation data is anticipated to affect the New Zealand Dollar. The New Zealand Consumer Price Index (CPI) accelerated to 2.0% from 1.4% in the first quarter of CY2023, according to the consensus. New Zealand's annual inflation rate has increased to 7.5% from 7.2%. As a result of the Reserve Bank of New Zealand's (RBNZ) decision to raise interest rates, households in the New Zealand economy are expected to bear a suffocating burden as a result of the country's rising inflation.

 

In addition, this suggests that RBNZ Governor Adrian Orr will continue to raise interest rates to combat inflation.


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