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July 29 - According to relevant work arrangements, the Ministry of Finance will issue the fourth tranche of RMB treasury bonds for 2026 in the Hong Kong Special Administrative Region on August 5, with an issuance scale of RMB 15 billion. Specific issuance arrangements will be announced by the Hong Kong Monetary Authoritys Central Moneymarkets Unit (CMU).July 29th - Capital Economics economist Abhijit Surya stated that weaker-than-expected Australian inflation data is likely to keep the Reserve Bank of Australia (RBA) on a wait-and-see approach regarding monetary policy tightening. Given the unexpected decline in core inflation in the second quarter, the RBA is unlikely to feel any urgency to raise interest rates in the near term. Capital Economics added that the latest data may prompt the RBA to keep interest rates unchanged at its upcoming August meeting.July 29 – At a press conference held by the State Council Information Office today (July 29), the State Intellectual Property Office introduced its efforts to actively promote rapid and collaborative intellectual property protection. Currently, 83 national-level intellectual property protection centers and 54 rapid rights protection centers have been established nationwide, forming a balanced, tiered, and clearly oriented rapid and collaborative protection network. This network provides local advantageous industries and innovative entities with comprehensive "one-stop" intellectual property protection services, including rapid pre-examination, rapid rights confirmation, and rapid rights protection.Hong Kong-listed mainland property stocks rebounded after a period of volatility, with Sunac China (01918.HK) rising over 7.5%, Longfor Group (00960.HK), Ronshine China (03301.HK), and Shimao Group (00813.HK) all rising over 5.5%, and Sino-Ocean Group (03377.HK) and Yuexiu Property (00123.HK) following suit.On July 29, the State Council Taiwan Affairs Office held a regular press conference. Spokesperson Chen Binhua stated that cross-strait exchanges have remained active since the summer vacation began, with airlines resuming four direct cross-strait routes, which have been well-received by passengers. To further meet the needs of cross-strait passengers, relevant airlines are working hard to restore their direct cross-strait route product system and upgrade transit services. Chen Binhua reiterated that our attitude towards promoting the full restoration of normalized direct cross-strait air travel is positive and clear. We hope that Taiwan will face up to the realistic demand for direct cross-strait passenger flights, follow public opinion, and promptly remove unreasonable restrictions on cross-strait air transport, allowing airlines on both sides to independently arrange flight schedules based on market demand.

US Dollar Index Struggles to Surpass 104.00 as US Inflation Rate Rises

Daniel Rogers

May 11, 2022 10:06

The US dollar index (DXY) is equilibrating below the round level mark of 104.00 as market players lose interest in the release of US inflation data. The asset has been fluctuating between 102.35 and 104.20 since April 28 amid a flurry of key economic events, ranging from the Federal Reserve's (Fed) interest rate decision and the announcement of US Nonfarm Payrolls (NFP) last week to the impending Consumer Price Index (CPI) statistics.

US CPI Figures

The US Bureau of Labor Statistics is anticipated to report an annual inflation rate of 8.1 percent, a decrease from the previous rate of 8.5 percent, while the core CPI, which excludes food and energy, is anticipated to reach 6 percent. Although inflation is anticipated to be lower, this does not guarantee that the Fed will not raise rates in June. If the annual inflation rate rises over the multidecade high of 8.5%, investors should anticipate greater volatility. 

Fed's Mester's address

Loretta Mester, president of the Federal Reserve Bank of Cleveland, stated that the Fed will not ease its stance on interest rates until it observes a significant decline in inflation levels. Inflation rates are skyrocketing, and the current scenario necessitates tougher measures to curb the rate of inflation's ascent.

 

Important events this week include the Consumer Price Index (CPI), Initial Jobless Claims, and the Producers Price Index (PPI), as well as the Michigan Consumer Sentiment Index (CSI).

 

On the back burner are the Russia-Ukraine Peace Talks, China's CPI, and Christine Lagarde's address as President of the European Central Bank (ECB).


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