Recently, many European countries released July inflation data. Hungary’s consumer price index rose 13.7% year-on-year in July, the highest in 24 years; Norway’s CPI index rose 6.8% year-on-year, the fastest growth rate since July 1988; Germany’s inflation rate reached 7.5%, exceeding 5 consecutive months. 7%; Portugal’s CPI increased by 9.1% year-on-year, the highest since November 1992; Irish consumer prices rose by 9.1%, the highest increase since 1984.

| Foreign Tusi Comments: Soaring prices have an impact on demand.Argentina hikes interest rates by 950 basis points, a 3-year high

Argentina’s central bank announced it would raise the benchmark Leliq rate by 950 basis points, from 60% to 69.5%, the largest rate hike in nearly three years. This is the eighth rate hike this year. Two weeks ago, Argentina’s central bank just raised interest rates by 800 basis points.

The latest data released by the U.S. Bureau of Economic Analysis shows that, after revision, U.S. exports in June were $260.8 billion, an increase of $4.3 billion from the previous month; imports were $340.4 billion, a decrease of $1 billion from the previous month; the trade deficit was $79.6 billion, It decreased by $5.3 billion month-on-month, but increased by $134.1 billion, an increase of 33.4%.

| Foreign Tusi Comments: The appreciation of the US dollar and the export of energy play a significant role.

World Bank: Vietnam’s economy grows at 7.5% annually

The World Bank recently predicted that Vietnam’s GDP growth rate in 2022 will be 7.5%, and the inflation rate will be 3.8%. In addition, Standard Chartered Bank also predicted that Vietnam’s gross domestic product (GDP) will grow by 10.8% and 3.9% in the third and fourth quarters of 2022, respectively, and the annual GDP growth rate may reach 6.7%.

| Foreign Tusi Comments: The base is still very low, and the road is still very long.

Pakistan’s foreign reserves are less than $8 billion, a new low

The latest data released by the State Bank of Pakistan shows that as of August 5, the foreign exchange reserves held by the State Bank of Pakistan were US$7.8303 billion, a decrease of US$555 million from US$8.3854 billion on July 29 and the lowest since October 2019. Level.

From January to July this year, the cargo turnover of Russian seaports was 482 million tons, a year-on-year decrease of 0.2%, according to the Russian Federation Haihe Transport Agency. Among them, dry cargo transshipment fell by 5.1% to 225.8 million tons, and liquid cargo increased by 4.5% to 256.2 million tons. Cargo volumes at Caspian ports fell the most, down 27.5% to 3.1 million tonnes.

| Foreign Tusi Comments: The gap with last year has narrowed significantly.

USPS Announces Operation of DMV Pilot Program

USPS announced today that it is launching a pilot program to lease self-service kiosk space in the lobby of the Post Office from the California Department of Motor Vehicles. Select California Post Office customers can use these kiosks for DMV transactions, including renewing vehicle registrations and requesting replacement registration cards or stickers.