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```htmlGolden Ten Data reported on July 1 that the famous mining explosives company Orica has approved a major renewable hydrogen project. According to regulatory filings submitted on Wednesday, Orica has made the final investment decision for its Hunter Valley hydrogen hub in New South Wales. Data shows that the project plans to use recycled water and renewable electricity to produce 4,700 tons of hydrogen annually, making it the largest project of its kind in Australia at this scale. This decision is seen as a significant boost to Australia's ambitions to develop its hydrogen industry; last year, BP withdrew from a 36 billion AUD (about 25 billion USD) project, causing a major setback for the sector. Orica's project is one of two initiatives awarded funding in the Australian government’s first round of a 2.25 billion AUD large-scale renewable hydrogen support program. The hydrogen produced will be used to manufacture 26,600 tons of low-carbon ammonia annually, which is expected to reduce Orica's natural gas feedstock consumption by about 7.5%. Construction is scheduled to begin this year, with production expected to start in early 2029.```

Glonghui July 1st｜Rothschild & Co Redburn has lowered Honeywell's target price from $225 to $214, maintaining a "Neutral" rating.

BlockBeats News, July 1st, Federal Reserve Chair Kevin Warsh will attend the ECB's "Global Central Bank Forum" policy panel discussion at 9:30 p.m. Beijing time on Wednesday, and deliver joint remarks with ECB President Lagarde, Bank of England Governor Bailey, and Bank of Canada Governor Macklem. This will be Warsh's first public appearance since chairing last month's FOMC meeting, and the market is trying to find policy clues from his speech. The market is watching whether Warsh will provide signals regarding inflation assessment, policy communication methods, and whether he will continue to convey a hawkish stance. However, if the market expects him to provide a clear interest rate path guidance, it may be difficult to achieve. Warsh has previously expressed reservations about forward guidance tools, believing they have limited effectiveness in policy implementation and preferring less communication. IMF Chief Economist Pierre-Olivier Gourinchas stated that strong forward guidance could potentially limit central banks to a future action, constraining policy flexibility. Evercore ISI Head of Central Bank Strategy and Economics Krishna Guha stated that the market will focus on how Warsh will break down the factors contributing to inflation, including the decline in oil prices, changes in inflation expectations, trends in commodities, dollar appreciation, and cost spillover effects from AI. The current U.S. core PCE price index rose to 3.4% in May, the highest since October 2023, and investors expect Warsh to reiterate the Fed's commitment to price stability. Warsh's previous hawkish remarks at the Fed's press conference have impacted the bond market, with the 2-year U.S. Treasury yield rising and the 10-year Treasury yield falling from about 4.5% to about 4.3%. The current market pricing probability for a rate hike in September is around 80%. Guha stated that if Warsh believes it is necessary to raise rates to build policy credibility, taking action in July and September would help to complete the adjustment before the midterm elections; however, it is more likely that Warsh is still evaluating whether a rate hike is necessary to strengthen credibility, so the July meeting may not result in immediate action.