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July 5th - OPEC+, comprised of OPEC and other oil-producing nations, will hold its monthly meeting later today. An informed source indicated that OPEC+ has agreed in principle to increase crude oil production quotas by 188,000 barrels per day in August. Two other sources stated that this increase is the most likely decision.July 5th - The Malian military reported on the 4th that military positions in multiple locations across Mali were subjected to a new round of coordinated attacks by armed groups. The military successfully repelled all attacks, and the attacked positions remain under its "complete control." The report stated that these attacks occurred in Agailok, Anefisse, Gao in northern Mali, and Sevare in central Mali. A local official in Gao said that before dawn on the 4th, militants launched a fierce attack on military camps with guns and rockets. A local resident said, "This morning, no one can leave their homes... The Malian armed forces have blocked all the streets. The gunfire was so intense, it felt like the roofs were about to collapse."July 5th - According to Israeli sources on the 5th local time, Israeli Transportation Minister Miri Regev confirmed that Israel deployed an Iron Dome air defense system to the United Arab Emirates in the early stages of the US-Israel-Iran conflict. This marks the first time the Iron Dome has been deployed to a country outside of Israel and the United States. Reportedly, this is the first time an Israeli government official has publicly acknowledged deploying the Iron Dome system to the UAE. Previously, related reports had been confirmed by US officials.OPEC+ sources: OPEC+ has agreed in principle to increase its oil production target by 188,000 barrels per day starting in August.On July 5th, at the 2026 Global Digital Economy Conference Results Release Conference, Lu Ya, Vice President of the Beijing Academy of Social Sciences, released the "Beijing Digital Economy Development Report (2025-2026)" blue book. The report shows that in 2025, Beijings digital economy added value exceeded 2.4 trillion yuan, a year-on-year increase of 8.7%, accounting for 46.4% of GDP. It ranked second in the global digital economy benchmark city index evaluation, with a development index value of 0.770, firmly maintaining its position as a "global leading city." Lu Ya introduced that Beijings status as the "No. 1 city for artificial intelligence" continues to be consolidated. In 2025, the core artificial intelligence industry scale reached approximately 450 billion yuan, attracting over 2,500 related enterprises. As of April 2026, 225 large-scale models had been registered. Innovation and industry application of large-scale models are accelerating in both directions, rapidly empowering industrial upgrading, technological innovation, and public services. The market-oriented reform of data elements is being deepened, and breakthroughs have been achieved in the construction of "one zone and three centers." The on-exchange transaction volume of the Beijing International Big Data Exchange increased by 150% year-on-year, and the circulation of trusted data space is deepening around key areas such as healthcare and audiovisual media.

NZD/USD retests three-month lows below 0.6150 as US consumer spending bolsters hawkish Fed wagers

Daniel Rogers

Feb 27, 2023 14:39

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During the Asian trading session, the NZD/USD retested its three-month trough below 0.6148. The kiwi asset has been dumped by market participants amid weak New Zealand Retail Sales data and increasing stakes for the Federal Reserve's policy tightening to continue (Fed).

 

The term "ecosystem" refers to a group of people who work in the construction industry. S&P500 futures have shown some recovery on Monday morning after reporting significant losses last week, reflecting a caution in the overall theme of risk aversion. The likelihood that the Federal Reserve will announce additional rate hikes to combat persistent inflation has increased, which has had a detrimental effect on U.S. stocks.

 

The demand for U.S. government bonds has decreased due to the Federal Reserve's increased support for additional policy restrictions. The 10-year US Treasury yield has risen above 3.94% as a result of a decline in bond demand.

 

Despite the dovish People's Bank of China (PBOC) report, the New Zealand Dollar has struggled to gain ground. The report predicts a revival in the Chinese economy in 2023 as a result of a relaxation in epidemic prevention and an increase in consumption. The PBoC's vision extends beyond the expansion of domestic demand to include economic growth and price stability over the extended term.

 

Notably, New Zealand is one of China's primary trading partners, and an expansionary monetary policy from the People's Bank of China will strengthen the New Zealand Dollar.