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2026-07-14 Tuesday

2026-07-19

00:24:10

[Iran Declares Southern Strait of Hormuz "Unsafe"] The Iranian Embassy in the UK stated on social media on the 13th that the southern channel of the Strait of Hormuz is "unsafe, unreliable, and prone to accidents." The Iranian ambassador to the UK also serves as Iran's permanent representative to the International Maritime Organization (IMO). The embassy stated that to comply with the Islamabad Memorandum of Understanding, Iran has established a temporary maritime security corridor without technical or military obstacles, and has informed the IMO. However, "the United States is leading ships towards a dangerous parallel southern channel. This route is not only questionable in its legality but also unsafe, unreliable, and prone to accidents." The embassy added that US attacks on Iranian ports and other "military acts of aggression" have made the Strait of Hormuz a highly tense and high-risk area. Following the US-Iran Memorandum of Understanding, the strait was divided into two channels: the northern channel controlled by Iran and the southern channel closer to Oman, with the US military providing navigational assistance in the southern channel. The Iranian Islamic Revolutionary Guard Corps Navy announced early on the 12th local time that the Strait of Hormuz would be closed immediately until further notice and the United States ceases its interference in the region, due to the insecurity caused by illegal interference by foreign forces. The U.S. Central Command posted on social media on the morning of the 12th, U.S. Eastern Time, that "passage through the Strait of Hormuz continues." Iran does not control the strait. (Xinhua)

2026-07-13 Monday

23:35:13

US 3-Month Treasury Auction on July 13 - High Allocation Percentage

Previous : 93.49% Forecast : -

Published Value 8.47%

Previous

23:35:12

US 3-month Treasury auction on July 13 - Bid-to-cover ratio (USD billion)

Previous : 2.58 Forecast : -

Published Value 2.84

Previous

23:34:19

US 3-month Treasury auction on July 13 - winning bid rate

Previous : 3.74% Forecast : -

Published Value 3.76%

Previous

23:34:17

US 3-month Treasury auction on July 13 - Total amount (US$ billion)

Previous : 968.85 Forecast : -

Published Value 957.30

Previous

23:34:16

US 6-month Treasury auction on July 13 - High allocation percentage

Previous : 0.86% Forecast : -

Published Value 54.42%

Previous

23:34:15

US 6-month Treasury auction on July 13 - Bid-to-cover ratio (USD billion)

Previous : 3.05 Forecast : -

Published Value 3.11

Previous

23:34:13

US 6-month Treasury auction on July 13 - winning bid rate

Previous : 3.83% Forecast : -

Published Value 3.86%

Previous

23:34:11

US 6-month Treasury auction on July 13 - Total amount (US$ billion)

Previous : 831.95 Forecast : -

Published Value 822.03

Previous

23:10:16

US June New York Fed's 1-year household income growth forecast

Previous : 2.80 Forecast : -

Published Value 3

Previous

23:10:14

US June New York Fed 1-year household spending growth forecast

Previous : 5 Forecast : -

Published Value 5

Previous

23:10:13

The average expectation in June for the New York Federal Reserve to be unable to repay its minimum debt in the next three months.

Previous : 12.60 Forecast : -

Published Value 10.80

Previous

23:08:17

US June New York Fed 1-year inflation expectations

Previous : 3.50 Forecast : -

Published Value 3.70

Previous

23:08:16

US June New York Fed 1-year gasoline inflation expectations

Previous : 5 Forecast : -

Published Value 1.50

Previous

23:08:14

US June New York Fed 1-year home price inflation expectations

Previous : 3.50 Forecast : -

Published Value 3.20

Previous

23:08:13

US June New York Fed 3-year inflation expectations

Previous : 3.10 Forecast : -

Published Value 3.30

Previous

23:08:11

US June New York Fed's 1-year gold price increase forecast

Previous : 5.70 Forecast : -

Published Value 5.20

Previous

22:04:13

[Brazil Plans to Open Uranium Mining to Private Capital, State-Owned Nuclear Energy Companies Must Hold at Least 20% Stake] ⑴ The Brazilian government is considering a major reform in the nuclear fuel sector. A draft regulation indicates plans to open uranium mining to private capital, allowing state-owned enterprises to partner with private companies to participate in the entire chain of exploration, mining, processing, and sales of uranium and other nuclear minerals. ⑵ According to the proposal, state-owned nuclear energy companies, which currently monopolize Brazil's nuclear fuel cycle, will be allowed to conduct open tenders for joint mineral exploration projects. However, they must retain at least 20% equity in each project to ensure the state's core control over strategic resources. ⑶ The plan is currently under review by the Presidential Office and the Ministry of Mining and Energy. Further adjustments are possible, and the final version will depend on the outcome of negotiations among the parties involved. ⑷ Brazil possesses the world's sixth-largest uranium reserves. Previously, this sector was exclusively controlled by state-owned capital. Opening it to private capital is expected to introduce new exploration technologies and funding, accelerating the commercial development of domestic uranium resources. (5) Global nuclear energy demand continues to rise against the backdrop of energy transition, and uranium prices have remained strong in recent years. Brazil's move may reshape the international nuclear fuel supply chain and attract global mining and energy capital to South American uranium assets. (6) If the draft is ultimately passed, Brazil will transform from a closed market for uranium mining to an open and cooperative market. This has positive implications for the diversification of global uranium supply. However, it is also necessary to pay attention to whether the regulatory framework can strike a balance between attracting investment and protecting national strategic interests.

22:04:11

[Global Coffee Exports Continue to Shrink, Brazilian Arabica Suffers 15th Consecutive Month of Decline, Robusta Defies the Trend] ⑴ Global exports of green or raw coffee fell 4.1% year-on-year to 10.8 million bags (60 kg per bag) in May. The International Coffee Organization's monthly report indicates this is the fifth time in the first eight months of the 2025/26 coffee year that negative growth has occurred, with cumulative annual exports declining by 1.1% compared to the same period last year. ⑵ Among Arabica varieties, "Brazilian Natural Beans" were the biggest drag, with exports falling sharply by 17.2% to 2.73 million bags in May, marking the fifteenth consecutive month of negative growth and the longest decline on record. ⑶ Exports of "Colombian Beans," also belonging to the Arabica category, decreased by 1.7% to 980,000 bags in May, while "Other Beans" also declined by 2.8% to 2.75 million bags. The weakness across all three major Arabica sub-categories reflects continued pressure on demand for high-end coffee beans. (4) In stark contrast to the sluggish performance of Arabica, Robusta, primarily used in instant coffee blends, saw a 4.8% increase in exports in May, reaching 4.34 million bags. Brazil, the largest producer, saw its Robusta exports surge by 195.6% year-on-year to 610,000 bags, becoming the core engine of this growth. (5) The continued divergence in export trends between Arabica and Robusta suggests that downstream roasters and instant coffee producers are prioritizing the supply of lower-cost Robusta, while high-end Arabica faces pressure from a structural contraction in demand. (6) If the negative growth trend in Arabica exports continues in the coming months, it could have a profound impact on the price spread structure between different varieties of international coffee futures. The market needs to closely monitor the recovery of new-season Arabica production capacity in Brazil and further evolution of global consumer preferences.

21:56:10

[Strait Traffic Plummets by 80%, US-Iran Conflict Escalates, Oil Prices and Inflation Risks Repriced] ⑴ The US-Iran military conflict escalated significantly over the weekend. The US Central Command struck dozens of targets in Iran, including its first use of a unidirectional attack drone. Iran retaliated by claiming to have attacked a US base in Bahrain. The frequency and depth of the clashes have increased significantly. ⑵ Navigation in the Strait of Hormuz has deteriorated drastically. Iran has officially closed the strait. Data shows that normally about 100 ships pass through the strait daily, but only 21 ships passed over the weekend, with some reaching zero port entries. This has substantially disrupted the crude oil transport route. ⑶ Crude oil prices have risen accordingly, with both Brent and WTI crude increasing. US gasoline retail prices have risen by about 10 cents per gallon in the past week. If the strait closure continues, energy prices will climb further, directly increasing transportation costs and inflationary pressures. (4) The transmission mechanism of conflict to inflation expectations is strengthening. The Federal Reserve is already facing the challenge of persistent core inflation, and rising energy costs will exacerbate the pressure to raise interest rates. The market has already priced in at least one rate hike this year, with a probability of about 71% in September. If oil prices continue to rise, this probability will increase further. (5) The previous memorandum of understanding between the US and Iran has essentially broken down. The two sides have completely opposing positions on control of the Strait of Hormuz. The US insists that it is an international waterway, while Iran asserts its jurisdiction through military actions. In the short term, the diplomatic channel for a solution has narrowed. (6) The market is facing the dual pressure of continuously rising geopolitical risk premiums and expectations of monetary policy tightening. This week's US CPI data and the Federal Reserve Chairman's congressional testimony will determine the direction of asset prices. If inflation exceeds expectations and geopolitical tensions continue, risk assets will face greater pressure, while energy and safe-haven assets may receive further support.

21:54:12

[US Meat Processing Profits Show Dramatic Divergence: Beef Processors Lose $263 Per Head, Pork Processors Turn Profitable] ⑴ US meat processing companies are showing a significant divergence in profits. Beef processors continue to suffer deep losses, while pork processors have turned a profit, reflecting a misalignment between end-consumer demand and cost transmission mechanisms. ⑵ Institutional estimates show that on Monday, beef processors were projected to lose $263.60 per head, a slight improvement from the $337.25 loss on Friday, but still significantly higher than the $317.05 loss a week earlier, indicating continued pressure on beef processing. ⑶ Pork processors showed the opposite trend, with an estimated profit of $3.15 per head on Monday, a further improvement from the $0.65 profit on Friday, successfully reversing the $6.00 loss per head a week earlier. ⑷ This divergence in profit direction typically suggests differences in the supply and demand structure of the two meats—beef faces higher production costs and weaker end-consumer demand, while pork may benefit from improved exports or relatively resilient domestic consumption. (5) Processing profit trends have a leading indicator effect on meat futures prices. Continued losses may force beef processors to reduce operating rates or lower raw material procurement prices, thus transmitting pressure to the live cattle market; conversely, a positive turn in pork processing profits may support live hog prices and pork product prices. (6) Market participants should be wary that if beef processing profits remain in deep negative territory for an extended period, it could trigger capacity adjustments, thereby altering the overall supply pattern of the meat market. Marginal changes in processing profits in the coming weeks will be a crucial indicator for judging the direction of livestock product prices.

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40.10

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0.395

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3.49

(4.46%)

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3.22

(3.80%)

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0.039

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-0.0004

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0.0044

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