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The Ukrainian military has reported attacks on the Saratov oil refinery and an airport in the Voronezh region of Russia.The Ukrainian military stated that it launched attacks on two Russian oil refining facilities in the Tartarstan region.On July 8th, it was reported that on July 7th, the National Healthcare Security Administration issued a "risk warning" stating that during the selection of procurement items in the 12th batch of centralized procurement, a certain imported original drug company submitted a so-called "expert recommendation letter jointly signed by 78 doctors from 31 hospitals," attempting to influence the procurement decision. After verification with each of the "signing experts," over 80% of the signatures were found to be fake. On July 8th, Takeda China stated: "The company referred to in this incident is not Takeda. The company has always strictly abided by national laws and regulations and participated in centralized procurement-related communications in compliance with regulations." Previously, on the evening of July 7th, Novartis China also stated: "We confirm that the company referred to in the article is not Novartis. Novartis has always strictly abided by national laws and regulations and firmly supports the countrys various measures to promote the high-quality development of the pharmaceutical industry."On July 8th, Zhang Yuhang, a second-level inspector of the Beijing Municipal Bureau of Economy and Information Technology, stated that in terms of computing infrastructure construction, Beijing continues to improve its "super node + industry node" computing support system, enhance its intelligent computing power supply capacity, build a computing power interconnection platform, and strengthen its computing power monitoring and supply-demand matching capabilities. The next step will be to solidify the foundation of computing power and data. This includes creating a computing power structure of "building the foundation within Beijing and expanding sources outside Beijing," constructing a 10,000-card computing power cluster, and achieving an additional intelligent computing power scale of over 70,000 petabytes within the year; exploring new models such as computing power collaboration and direct green electricity supply; continuously improving the institutional system for data property rights, authorized operation of public data, and revenue distribution; creating a trustworthy data space; and improving the data circulation service ecosystem. Furthermore, the city will accelerate breakthroughs in key technologies for embodied intelligence and the research and development of robot products, improving the systematic evaluation capabilities of robots; supporting the innovative development of intelligent terminals such as smartphones, smart computers, smart glasses, and smart homes; and improving the pilot-scale service system.Both WTI and Brent crude oil prices fell by $0.40 in the short term, currently trading at $71.89 per barrel and $75.80 per barrel respectively.

With RBA policy in the forefront, AUD/NZD sustains a weekly low at 1.0900

Daniel Rogers

Aug 01, 2022 12:16

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After dropping near to a crucial support level of 1.0900 during the Asian trading session, the AUD/NZD pair has since recovered considerably. Several offers have been submitted for the asset, and a purchase response is in the process. Strong purchase activity typically indicates that consumers thought the underlying product was a wise investment.

 

The cross is turning upwards as investors prepare for forceful words from the Reserve Bank of Australia (RBA). For the third time in a row, RBA Governor Philip Lowe is expected to increase the Official Cash Rate (OCR) by 50 basis points (bps). Australia's inflation rate has increased to 6,1% as of the second quarter of CY2022, which has led to increased pricing pressure. Since the prices of commodities like oil and food continue to fluctuate, the inflation rate has not yet run out of room to rise.

 

In today's session, the release of the Caixin Manufacturing PMI data is quite important. The economic data is predicted to register at 51.5, slightly below the prior level of 51.7. A reduction in Chinese industrial activities will have an impact on the antarctic because Australia is China's main trading partner.

 

On the New Zealand front, kiwi bulls anticipate the release of employment numbers on Tuesday. According to projections, the jobless rate will drop from the previously reported 3.2 percent to 3.1 percent. In addition, the Employment Change may increase from the previous 0.1 percent to 0.4 percent.


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