2026-11-04 Wednesday
2026-11-06
10:29:03
A chart showing the latest China Cotton Price Index (CC Index) data (November 4, 2026): The 3128B cotton price index was 16,733 yuan/ton (3128B is the benchmark for cotton futures delivery recognized by the Zhengzhou Commodity Exchange), down 40 yuan/ton, or 0.24%. The 2227B cotton price index was 15,244 yuan/ton, down 34 yuan/ton, or 0.22%, and the 2129B cotton price index was 17,041 yuan/ton, down 37 yuan/ton, or 0.22%. FX678's specially created chart provides a summary of the latest 30 trading days of the China Cotton Price Index (CC Index). (The China Cotton Price Index is published once per trading day, quoting prices in three denominations: 3128B, 2227B, and 2129B. The Zhengzhou Commodity Exchange (ZCE) stipulates that the benchmark delivery commodity for cotton futures is domestic cotton of '3128B' grade. The spot market cotton transaction price needs to be converted to the price of 3128B cotton using a specific formula. For example, research reports will state the price of cotton from a certain origin, and then calculate its equivalent price in 3128B.)
10:22:50
[DDHQ Predicts Democrats Will Win Back House, U.S. Enters New Era of Divided Government] (1) According to The Hill, Decision Table Headquarters (DDHQ), an election forecasting organization, predicts that the Democrats will win control of the U.S. House of Representatives on Tuesday, regaining a majority after four years as a minority party, thus ushering in a new era of divided government in the United States. (2) This power shift will immediately have a significant impact on Washington's political operations next year, not only significantly hindering Trump's legislative agenda but also setting the stage for a series of conflicts between the House and the White House. (3) Controversial issues include immigration enforcement, government spending, Trump's global tariff policies, and the war with Iran. (4) The Democrats have pledged to launch a series of comprehensive investigations into Trump and his inner circle, focusing on the Epstein scandal, the violence that accompanied Trump's large-scale deportations, and the financial situation of Trump and his family.
10:19:45
[Dollar Weakens to One-Month Low as US Midterm Election Results Show Key Democratic Advantages] 1. The dollar weakened against most major currencies on Wednesday, with the dollar index falling as much as 0.59% to 101.25, its lowest level since September 30. Investors focused on the results of the US midterm elections and prepared for a potential strong performance from the Democrats. 2. The first results were released, with Democratic Senator Jon Osoff winning re-election in Georgia, marking the first major election with a confirmed outcome. However, whether the Democrats can regain control of Congress from Trump's Republicans remains to be seen. The yield on the 10-year US Treasury note fell as much as 1.5% to 4.890%. 3. Carol Kong, a foreign exchange strategist at Commonwealth Bank of Australia, said that because the Democrats are currently favored, the market expects them to win both the House and Senate. If this prediction comes true, the dollar could weaken further, as a complete Democratic victory would limit government spending during Trump's term. She also noted that investors are concerned about the risk of an escalation in the Middle East due to the election results; if the Republicans lose control of both houses of Congress, Trump has stated he will resume bombing operations against Iran after the election, so the market is closely watching. If the conflict escalates, oil prices could surge, thus supporting the dollar. 4. Currently, US media outlets have made predictions about the winners of some House districts, with preliminary results favoring the Democrats, but voting is still underway in most parts of the country.
09:54:52
[He Lifeng Delivers Video Address at Hong Kong International Financial Leaders Investment Summit] The Hong Kong International Financial Leaders Investment Summit was held in Hong Kong from February 2nd to 4th. He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, delivered a video address. He Lifeng pointed out that President Xi Jinping has always been concerned about Hong Kong's development. With the firm support of the central government, Hong Kong's progress from governance to prosperity has been continuously consolidated, and its economic and social development has achieved new and significant results. The national "15th Five-Year Plan" made specific arrangements to support Hong Kong in consolidating and enhancing its competitive advantages and better integrating into and serving the overall development of the country. Hong Kong, in alignment with the national "15th Five-Year Plan," has formulated its first five-year plan, which will further consolidate social consensus, stimulate innovation, enhance development momentum, and promote Hong Kong's continuous consolidation of its competitive advantages. (Xinhua News Agency)
09:51:04
[RatingDog China Services PMI at 50.8 in October] The RatingDog China Services Business Activity Index registered 50.8 in October, down 0.8 from September. The expansion was moderate, the slowest in three months, indicating that the service sector expansion continued into the start of the fourth quarter. Activity and Demand: Business activity continued to expand, but the growth rate slowed, with capacity constraining growth. New business maintained relatively rapid growth, with the growth rate roughly the same as in September. New export business grew for the sixth consecutive month, the longest growth cycle since 2024, but the growth rate slowed. Price Indicators: Input price increases accelerated to the highest level in five months. Sales prices declined for the second consecutive month, mainly due to intense market competition, with the decline moderated compared to September. Overall, the service sector expansion continued, but at a slower pace. On the demand side, new business maintained relatively rapid growth, and external demand continued to improve. The further decline in selling prices coupled with rising costs warrants attention as they squeeze corporate profit margins. (RatingDog)
09:50:25
【New Zealand's unemployment rate rises to 5.7%, a new high in eleven years, with both employment and labor force participation rates declining】 1) Statistics New Zealand announced that, after seasonal adjustment, New Zealand's unemployment rate unexpectedly rose to 5.7% in the third quarter, worse than the market expectation of falling to 5.5%, and the highest since the third quarter of 2015, compared to 5.6% previously. (2) The employment rate was 66.4%, down 0.3 percentage points from the previous quarter; the labor force participation rate was 70.4%, down 0.2 percentage points from the previous quarter. (3) The number of unemployed was 174,000, an increase of 3,000 or 1.8% from the previous quarter; before seasonal adjustment, the number of unemployed in the third quarter was 169,000, of which 21.5% had been unemployed for more than a year, which is one of the indicators of long-term unemployment. (4) After seasonal adjustment in the third quarter, the NEETs (Not Employed, Not Studying, and Not Training) aged 15 to 24 accounted for 14.1% of the population in this age group, up 0.3 percentage points from the previous quarter. (5) As of the end of September, unadjusted, wage inflation (including overtime) across all sectors in New Zealand (public and private sectors) rose 2.1% year-on-year and 0.5% quarter-on-quarter; the average weekly wage for full-time employees (or equivalent) rose to NZ$1,743 and the average hourly wage for standard hours rose to NZ$44.86.
09:23:38
Overview of CNY HIBOR (Hong Kong Interbank Offered Rate) and Changes: According to FX678, as of November 4, 2026, the CNY HIBOR rate changes for each period are shown in the table: 5 periods saw rate increases, 0 periods saw rate decreases, and 4 periods remained unchanged. The largest change was in the overnight CNY HIBOR rate, which rose by 7 basis points. As shown in the updated data, the overnight onshore RMB HIBOR was 1.40%, up 7 basis points; the 1-week rate was 1.44%, up 3 basis points; the 2-week rate was 1.44%, up 1 basis point; the 1-month rate was 1.54%, unchanged; the 2-month rate was 1.58%, unchanged; the 3-month rate was 1.65%, up 2 basis points; the 6-month rate was 1.75%, unchanged; the 9-month rate was 1.77%, up 1 basis point; and the 1-year onshore RMB HIBOR was 1.78%, unchanged. (BP = basis points)
09:15:39
On November 4th, the central parity rate of the RMB in the interbank foreign exchange market was as follows (2/2): RMB/South African Rand: 2.4781, down 62.00 points; RMB/Korean Won: 201.1000, down 47.00 points; RMB/UAE Dirham: 0.5484, down 16.00 points; RMB/Saudi Riyal: 0.5605, down 15.70 points; RMB/Hungarian Forint: 48.5654, down 847.02 points; RMB/Polish Złoty: 0.5876, down 20.30 points; RMB/Danish Krone: 0.9958, down 40.00 points; RMB/Swedish Krone: 1.4618, down 36.00 points; RMB/Norwegian Krone: 1.3857, down 86.00 points. The yuan was quoted at 7.4644 against the Turkish lira, down 139.10 points; the yuan was quoted at 2.8069 against the Mexican peso, up 338.00 points; and the yuan was quoted at 5.0490 against the Thai baht, down 115.00 points.
09:15:39
On November 4th, the central parity rate of the RMB in the interbank foreign exchange market was as follows (1/2): Swiss Franc to RMB: 8.1687, up 2.00 points; USD to RMB: 6.7180, up 30.00 points; EUR to RMB: 7.5043, up 283.00 points; 100 JPY to RMB: 4.2277, down 80.00 points; HKD to RMB: 0.8562, up 3.90 points; GBP to RMB: 8.9904, up 311.00 points; AUD to RMB: 4.6666, down 86.00 points; NZD to RMB: 3.7430, down 95.00 points; SGD to RMB: 5.2273, up 28.00 points. The Canadian dollar was quoted at 4.7805 against the Chinese yuan, up 62.00 points; the yuan was quoted at 0.6077 against the Malaysian ringgit, down 8.00 points; and the yuan was quoted at 12.2101 against the Russian ruble, up 308.00 points.
09:06:18
[People's Bank of China Strengthens Implementation of Stock Repurchase and Shareholding Increase Relending Policy] To maintain the stable operation of the capital market, the People's Bank of China (PBOC) is strengthening the implementation of the stock repurchase and shareholding increase relending policy. I. Effective November 4, 2026, the interest rate for stock repurchase and shareholding increase relending will be lowered by 0.25 percentage points to 1%. The stock repurchase and shareholding increase relending program will support 21 national banks and 5 systemically important city commercial banks, with a support ratio of 100%, a term of one year, and can be extended as needed by the banks. Banks can appropriately add points to the relending rate to reasonably determine the term and interest rate of the stock repurchase and shareholding increase loan, accelerate loan disbursement, and enhance the market capitalization management capabilities of listed companies and major shareholders. II. Sufficient relending quotas will be provided to banks. Following the stock repurchase and shareholding increase relending symposium on November 2, banks have submitted applications for stock repurchase and shareholding increase relending quotas exceeding RMB 200 billion to the PBOC. Going forward, the PBOC will continue to fully meet the banks' relending needs and support banks in actively connecting with the financing needs of listed companies and major shareholders. (People's Bank of China)
09:04:05
[Trump: May Use Presidential Veto Power to Counter Democrats if They Control Congress] On November 3rd, local time, voting continued in the US midterm elections. US President Trump stated that if the Democrats make progress in this election and win control of Congress, he might use his presidential veto power to force them to reach a bipartisan agreement. In an interview that day, Trump said, "Historically, you just need to exercise your veto for a few months in a row, and then they come to you and say, 'We have to make a deal.'" Trump also stated that if the Democrats try to limit their power through Congress, he might further expand the scope of executive power. These statements indicate that if the Democrats win a majority in both the House and Senate in this midterm election, the political confrontation between the White House and Congress could intensify. Furthermore, Trump stated that he has done everything he can to campaign for Republican candidates across the country in the past few weeks. He believes that his campaign has helped the Republican Party reverse the previous possibility of a "blue wave" from the Democrats, making the election competition more intense. (CCTV News)
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