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2025-08-01 Friday

2025-08-02

18:23:49

[Shipping Association says Thailand's exports will grow at least 5-7% this year] The National Shipping Council of Thailand said on Friday that after the United States imposed a 19% tariff, Thailand is in line with other countries in the region and maintains the competitiveness of its products. It expects Thailand's exports to grow by at least 5% to 7% this year. The council had previously predicted that exports would grow by 0% to 1% this year.

18:22:19

What are the impacts of resuming VAT on interest income from treasury bonds and other bonds? The Ministry of Finance and the State Administration of Taxation announced on the 1st that, effective August 8, 2025, VAT will be reinstated on interest income from newly issued treasury bonds, local government bonds, and financial bonds issued on or after that date. "This resumption of VAT on interest income from treasury bonds, local government bonds, and financial bonds adopts a 'new and old phased approach.' Existing bonds will continue to enjoy preferential VAT policies, and their interest income will continue to be VAT-exempt until maturity. Only interest income from newly issued bonds will be subject to VAT. This will not affect investor interests or bond market stability, and will facilitate the smooth implementation of the policy adjustment," said Liang Ji, Director of the Public Revenue Research Center at the Chinese Academy of Fiscal Sciences. Experts and industry insiders stated that this policy adjustment will have a limited impact on the market and will have little impact on individual investors. Interest income earned by financial institutions from interbank deposits, interbank loans, and interbank certificates of deposit will continue to be subject to the relevant VAT exemption policies, and will have no impact on the relevant institutions. (Xinhua News Agency)

18:20:16

[Tariffs loom, why has the peak shipping season failed?] ⑴ Despite entering the traditional peak season in August, freight rates on European routes have not seen the expected significant increase. ⑵ Most liner companies quoted freight rates in the mid-to-early August range of $3,000-3,500/FEU, with spot market rates approximately $1,600/FEU higher than long-term contract rates in the first quarter. ⑶ Freight rates failed to continue to rise, mainly due to the lack of significant growth in freight demand and the fact that freight rates were already high. ⑷ In addition, global trade uncertainty continues due to Trump's tariff rhetoric. ⑸ The 15% tariff agreed upon by the United States and the European Union, as well as the ongoing trade negotiations, have raised market concerns about adjustments to future trade demand. ⑹ Increased tariffs are bound to lead to higher commodity prices, suppressing some trade demand. Coupled with some "frontloading," the outlook for long-term market demand is not optimistic. ⑺ Analysis by the Ningbo Shipping Exchange indicates that the shipping market continues to face challenges amidst multiple uncertainties.

18:18:57

The Swiss Foreign Minister issued a statement: We will not lose heart and will continue to work hard to reach an agreement that is in the interests of both sides.

18:18:39

Swiss Foreign Minister issues statement: We note with great regret President Trump's new decision on tariffs

18:17:59

[Economic alarms are ringing, why has Italy's GDP growth been lowered again?] ⑴ Italy's budget watchdog has lowered its GDP growth forecast for the country for the next two years. ⑵ The agency lowered its growth forecast for 2025 from 0.6% to 0.5%, and its forecast for 2026 from 0.7% to 0.5%. ⑶ This adjustment is mainly attributed to two key factors: one is the negative impact of trade tensions caused by Trump's tariff remarks. ⑷ The second is the appreciation of the euro against the US dollar, which may put pressure on Italy's exports. ⑸ Although the Italian economy has previously shown a certain degree of resilience, the complexity of the external environment is posing new challenges to its growth prospects. ⑹ The combination of external uncertainties and exchange rate fluctuations together constitutes the downside risks facing the Italian economy. ⑺ This forecast also reflects the general difficulties that eurozone economies may face against the backdrop of rising global trade protectionism.

18:17:06

Chevron's net production in the second quarter was 3.4 million barrels of oil equivalent per day.

18:16:54

Chevron: Permian Basin oil production increased to 1 million barrels per day in the second quarter

18:16:32

Senegalese Prime Minister Ousmane Sonko on Friday unveiled a new economic recovery plan that he said would be funded by 90% domestic resources, adding that its implementation would not incur additional debt.

18:16:12

The annual rate of new car registrations in Spain in July

Previous : 15.20% Forecast : -

Published Value 17.10%

18:16:12

[Big players under attack from all sides, are European automakers' 2025 profits in jeopardy?] ⑴ Fitch Ratings predicts that European automakers' profit margins will face pressure in 2025 due to Trump's tariff rhetoric and intensified market competition. ⑵ Furthermore, the accelerated shift to electric vehicles will dilute profits, and Fitch expects European auto production to remain 15%-20% below pre-pandemic levels. ⑶ Trump's tariff rhetoric will negatively impact European automakers' US sales, particularly high-end models exported from Germany, Japan, and South Korea. ⑷ For example, Volkswagen's Porsche and Audi brands, as well as Mercedes-Benz's SUV production, could be impacted. ⑸ European automakers are facing challenges from local Asian competitors, suffering continued market share erosion and pricing pressure even in the premium segment, where they have traditionally had a strong advantage. ⑹ Fitch expects that while most investment-grade automakers are well-positioned to weather these challenges, their earnings and free cash flow generation will decline further in 2025, leading to a negative rating outlook and action for the sector.

18:16:11

Monthly rate of new car registrations in Spain in July

Previous : 5.60% Forecast : -

Published Value -17.50%

18:14:06

As the European and American economies diverge, where does the euro go after falling below the 1.14 level? ⑴ The euro fell sharply to 1.1393 against the US dollar following the release of the latest data. ⑵ This level marks a new low since June 10th, when the exchange rate fell to 1.1373. ⑶ From a technical perspective, the euro faces further downside risks against the US dollar. ⑷ The 61.8% Fibonacci retracement level is at 1.1357, while the influential 100-day moving average is at 1.1363. Both of these key support levels could become the exchange rate's next targets. ⑸ Eurozone economic growth has been better than expected, but inflation has stabilized at target, reducing expectations of interest rate cuts. The US may not cut interest rates again this year, supporting the dollar's strength. ⑹ This divergence in economic and monetary policy expectations between Europe and the US provides fundamental support for the euro's decline against the US dollar. ⑺ In the current market environment, traders may be more motivated to take profits on long euro positions, exacerbating the decline.

18:10:06

The annual rate of new car registrations in Spain in July

Previous : 15.20% Forecast : -

Published Value 17.10%

18:09:49

[Gold's three consecutive declines: a life-or-death struggle amid dashed hopes for rate cuts?] ⑴ Gold prices remained stable on Friday, but are still on track for their third consecutive weekly decline. ⑵ As of 5:34 PM Beijing time, the spot gold price was $3,293.56 per ounce, down 1.4% for the week. ⑶ This trend was primarily driven by a stronger dollar and weakening market expectations for rate cuts. ⑷ The Federal Reserve previously maintained interest rates in the 4.25%-4.50% range, dampening market hopes for a September rate cut. ⑸ Meanwhile, the US dollar index rose to its highest level since May 29, making gold more expensive for holders of other currencies. ⑹ Nevertheless, the uncertainty surrounding Trump's tariff rhetoric and its potential impact on global economic growth provided support for gold. ⑺ Next, market focus will shift to the upcoming US jobs data, which investors will use to assess the Federal Reserve's future policy direction. ⑻ Notably, precious metals such as silver, platinum, and palladium also faced weekly declines this week.

18:08:14

The 10-year U.S. Treasury yield rose 0.50% to 4.399.

18:08:10

Indian officials: More than half of exports to the US will not be affected

18:07:42

[Capital Flight? European Funds Outflow Exceed $40 Billion in a Single Week] ⑴ According to LSEG Lipper data, European equity funds experienced a massive sell-off in the week ending July 30. ⑵ Investors sold a net $41.12 billion from European funds, the largest single-week net outflow since at least 2018. ⑶ This phenomenon reflects growing market concerns about the US-China trade agreement and its economic impact, while signs of weakening corporate earnings have also exacerbated investor caution. ⑷ In sharp contrast to the European market, US equity funds attracted $6.34 billion in net inflows, ending two consecutive weeks of net outflows. ⑸ Asian equity funds also performed strongly, attracting $3.05 billion in net inflows. ⑹ In the bond market, global bond funds remained popular for the 15th consecutive week, receiving $15.35 billion in net investment, of which $3.38 billion went to short-term bond funds. ⑺ Emerging markets also attracted investor interest, with equity and bond funds attracting $1.92 billion and $1.31 billion in net inflows, respectively.

18:07:26

Alumina Futures Main Contract Falls 2.86%, Net Short Position Continues to Expand. ⑴ The main alumina futures contract 2509 closed down 2.86%, with a trading volume of 275,300 lots. The top 20 traders held a net short position of 11,214 lots. ⑵ Total trading volume for all contracts was 419,700 lots, down 128,200 lots from the previous day. ⑶ The top 20 traders held a long position of 177,200 lots, an increase of 4,622 lots; their short position was 210,200 lots, an increase of 8,766 lots.

18:07:14

Glass Futures Main Contract Plummets 3.84%, Net Short Position Nearly 150,000 Contracts] ⑴ The main glass futures contract 2509 closed down 3.84%, with a trading volume of 2.616 million contracts. The net short position of the top 20 traders increased to 147,473 contracts. ⑵ Total trading volume for all contracts was 3.9491 million contracts, a decrease of 365,800 contracts from the previous day. ⑶ The top 20 traders held a long position of 1.0147 million contracts, an increase of 61,600 contracts; their short position was 1.2611 million contracts, an increase of 76,400 contracts.

18:06:52

The main contract of the Shanghai Composite 50 Index Futures closed down 0.63%, with net short positions exceeding 10,000 contracts. (1) The main contract of the Shanghai Composite 50 Index Futures 2509 closed down 0.63%, with a trading volume of 32,100 contracts. The top 20 traders held a net short position of 10,677 contracts. (2) Total trading volume for all contracts was 50,800 contracts, down 25,100 contracts from the previous day. (3) The top 20 traders held a long position of 67,300 contracts, down 3,174 contracts; their short position was 82,300 contracts, down 2,833 contracts.

18:06:24

The main coke futures contract closed down 3%, with net short positions continuing to expand. ⑴ The main coke futures contract 2509 closed down 3.00%, with a trading volume of 50,300 lots. The top 20 traders held a net short position of 2,475 lots. ⑵ The total trading volume of all contracts was 69,400 lots, an increase of 10,900 lots from the previous day. ⑶ The top 20 traders held a long position of 30,500 lots, an increase of 675 lots; their short position was 37,400 lots, an increase of 961 lots.

18:05:40

The main coking coal futures contract plummeted 7.34%, with net short positions exceeding 66,000 lots. (1) The main coking coal futures contract 2601 closed down 7.34%, with a trading volume of 2.2253 million lots. The top 20 positions had a net short position of 66,568 lots. (2) Total trading volume for all contracts was 3.3331 million lots, an increase of 578,900 lots from the previous day. (3) The top 20 positions held a long position of 403,000 lots, a decrease of 10,900 lots; their short position was 509,200 lots, a decrease of 14,700 lots.

18:05:35

[Trade War Reignites: How Will Trump's New Tariffs Affect the World?] ⑴ US President Trump's new round of tariffs will take effect next Thursday, and the rates for several major trading partners have already surfaced. ⑵ Brazil will be subject to a 50% tariff, Canada to 35%, and Switzerland to a whopping 39%. ⑶ The EU, Japan, and South Korea, under the latest agreement, will face a 15% tariff, while India faces a 25% tariff and may face additional penalties for its dealings with Russia. ⑷ Mexico's tariff rate is 25%, but it has agreed to maintain this rate for 90 days on goods not covered by the USMCA. ⑸ The UK and Vietnam have relatively lower rates of 10% and 20%, respectively. ⑹ China and the US discussed this week extending the truce, which expires on August 12, but have yet to reach an agreement. ⑺ These tariff measures have sparked concerns among relevant countries and markets, with Switzerland, for example, expressing "deep regret." ⑻ This series of tariff measures will have a profound impact on the global trade landscape and may exacerbate market uncertainty.

18:05:29

The main paraxylene futures contract fell 2.41%, with net short positions continuing. (1) The main paraxylene futures contract 2509 closed down 2.41%, with a trading volume of 141,700 lots. The top 20 traders held a net short position of 1,951 lots. (2) Total trading volume for all contracts reached 274,900 lots, an increase of 18,000 lots from the previous day. (3) The top 20 traders held a long position of 217,100 lots, an increase of 32,600 lots; their short position was 227,900 lots, an increase of 29,700 lots.

18:04:40

The main natural rubber futures contract plummeted 2.79%, with net short positions expanding. (1) The main natural rubber futures contract 2509 closed down 2.79%, with a trading volume of 194,100 lots. The net short position of the top 20 traders increased to 13,047 lots. (2) Total trading volume for all contracts was 329,600 lots, down 6,345 lots from the previous day. (3) The top 20 traders held a long position of 101,600 lots, an increase of 2,020 lots; their short position was 134,900 lots, an increase of 5,338 lots.

18:04:30

The main 30-year Treasury bond futures contract fell slightly by 0.07%, with a net long position. (1) The main 30-year Treasury bond futures contract 2509 closed down 0.07%, with a trading volume of 118,900 lots. The top 20 traders held a net long position of 1,840 lots. (2) Total trading volume for all contracts was 140,700 lots, down 12,200 lots from the previous day. (3) The top 20 traders held a long position of 131,700 lots, an increase of 4,335 lots; their short position was 133,700 lots, an increase of 3,265 lots.

18:03:35

[Oil Market Fluctuations: Why is Middle Eastern Crude Oil Bucking the Trend?] ⑴ Despite record-high US crude oil production, spot premiums for Middle Eastern benchmark crudes remain strong. ⑵ Benchmarks such as Oman, Dubai, and Murban are trading at premiums exceeding $3 per barrel. ⑶ This trend is primarily driven by concerns about Russian oil sanctions and strong demand from India. ⑷ Traders revealed that Indian refiners have pre-ordered some crude oil from the Middle East and Africa to mitigate the risk of supply disruptions from future sanctions. ⑸ In addition, Pakistani refiner Cnergyico also imported 1 million barrels of crude oil from the US for the first time, demonstrating shifts in global crude oil trade flows. ⑹ This crude oil is expected to arrive in the second half of October. If commercially viable, Pakistan may import at least one cargo per month going forward. ⑺ Market trading data shows that the cash Dubai premium to swaps is $3.05 per barrel. ⑻ Despite other factors, geopolitical concerns and shifts in buyer structural demand are becoming key drivers of oil prices.

18:01:50

USD/JPY Analysis: Yen under pressure amid trade tensions, dovish BoJ stance Details>

18:01:28

[Billion-dollar giants are betting big, are AI unicorns seeing their valuations skyrocket overnight?] ⑴ Sources revealed that AI infrastructure provider Vast Data is seeking a new round of funding with a potential valuation of up to $30 billion. ⑵ This valuation represents a significant increase from its previous round of funding in 2023, which raised $9.1 billion. ⑶ It is reported that Google's CapitalG and Nvidia are in talks to participate in this round. ⑷ Vast Data specializes in providing storage technology for large-scale AI data centers, with clients including companies like xAI. ⑸ Despite not yet going public, Vast Data's annual recurring revenue reached $200 million earlier this year and is expected to grow to $600 million next year. ⑹ The company has hired the former CFO of Shopify and is considered a potential IPO candidate. ⑺ As the AI boom continues to heat up, giants like Nvidia are actively building a complete AI supply chain through acquisitions and investments. ⑻ As a key component, Vast Data's technological maturity is considered superior to its competitors, making it an attractive investment target. (Refinitiv)

18:00:23

[Expectations for a rate cut take a sharp turn, will the ECB remain on hold in September?] ⑴ Eurostat data shows that eurozone consumer prices rose 2.0% year-on-year in July, matching the inflation rate in June. ⑵ This figure was slightly higher than the market expectation of 1.9%, defying previous predictions of a possible decline in inflation. ⑶ Prior to this, economic activity in the eurozone grew better than expected in the second quarter, demonstrating some resilience. ⑷ Several factors may impact future inflation, such as the uncertainty created by Trump's tariff rhetoric and the potential changes to trade agreements that may result from it. ⑸ Although there are signs that service sector inflation slowed in July, indicating that the momentum of price pressures is weakening, ⑹ However, given that inflation remains stable at target and economic growth has unexpectedly outperformed expectations, institutions such as Barclays no longer expect the ECB to cut interest rates in September. ⑺ The ECB President previously stated that the bank is "well-positioned" for inflation and will not react to "small fluctuations" away from its target. ⑻ This series of data and statements suggests that the ECB may maintain its key interest rate unchanged in September.

17:59:22

USD/CAD Technical Analysis: The daily chart shows USD/CAD has closed higher for several consecutive days, indicating an upward trend in the short term. The exchange rate is currently trading at a recent high, having broken through the upper Bollinger Band at 1.3848, indicating a strengthening short-term short squeeze. First, examining the Bollinger Bands, the bands are showing an overall widening opening, with the middle band flattening and slightly rising, indicating a start to volatility and the establishment of an upward trend. Regarding the MACD indicator, both the DIFF and DEA are above zero, with the red bar momentum continuing to increase, and the trend structure is forming a typical "strong golden cross" pattern. Increasing momentum, but not yet diverging, supports further upward movement. The RSI indicator remains above 65, approaching overbought territory, but showing no significant divergence. This suggests a strong market setup, and while a short-term technical correction is possible, the trend remains intact. Analysts believe that key support lies near the middle Bollinger Band at 1.3690. In the event of a correction, this level could serve as the first level of technical support. The key resistance above is focused on the psychological barrier of 1.4000. If it breaks through effectively, it may open up a new round of upward space.

17:58:28

With tariffs, non-farm payrolls, and PCE hitting the market, where will the Canadian dollar go? Details>

17:51:58

Preliminary reading of the eurozone's harmonized CPI monthly rate for July

Previous : 0.30% Forecast : -

Published Value 0%

17:51:49

Preliminary reading of the eurozone's core harmonized CPI monthly rate for July

Previous : 0.30% Forecast : -

Published Value 0%

17:48:16

Indian government sources: India has started contact with the United States for further trade negotiations, and a US delegation will visit Delhi on August 24. (Refinitiv)

17:46:33

[Two departments: Starting from August 8, 2025, value-added tax will be reinstated on interest income from newly issued treasury bonds, local government bonds, and financial bonds after this date] The Ministry of Finance and the State Administration of Taxation announced the value-added tax policy for interest income from treasury bonds and other bonds. Starting from August 8, 2025, value-added tax will be reinstated on interest income from newly issued treasury bonds, local government bonds, and financial bonds after this date (including that date). Interest income from treasury bonds, local government bonds, and financial bonds issued before this date (including those issued after August 8, 2025) will continue to be exempt from value-added tax until the bonds mature.

17:46:15

[National Bureau of Statistics: We must increase efforts in data release and interpretation, and strengthen interpretation of economic hot spots and issues of public concern] On August 1st, the Party Leadership Group of the National Bureau of Statistics held an expanded meeting. The meeting emphasized that statistical departments must truly strengthen their sense of responsibility and urgency in carrying out economic work in the second half of the year, do a solid job in producing statistical data, strengthen the foundation of data quality, and accurately reflect economic trends. We must strengthen economic monitoring and analysis, deeply tap into the advantages of a rich set of statistical information indicators, including aggregate, structural, and categorized indicators, and continuously improve the scientific and predictive nature of economic analysis and judgment. We must increase efforts in data release and interpretation, strengthen interpretation of economic hot spots and issues of public concern, and explain the effectiveness of macroeconomic policy implementation from multiple perspectives.

17:45:00

[Global Economic Accounting Standards Undergo Major Changes, Officially Including Crypto Assets?] ⑴ The International Monetary Fund (IMF) announced that the System of National Accounts (SNA), the standard for measuring global economic activity, will be updated. ⑵ This update will more comprehensively incorporate emerging technologies, digital services, and intangible assets to accommodate the development of the digital economy. ⑶ A key change is that certain crypto assets will be included in the SNA and classified as "non-produced, non-financial assets." ⑷ Although crypto assets represent a relatively small portion of global assets, their impact on financial stability, taxation, and regulation cannot be ignored. ⑸ Statisticians have found ways to reflect such assets in national wealth, but because they do not involve the creation of goods or services, they are not included in gross domestic product (GDP). ⑹ The revised new standard is expected to be implemented globally between 2029 and 2030. ⑺ In addition, the SNA recommends that countries develop a set of indicators covering areas such as artificial intelligence, cloud computing, digital intermediary platforms, and e-commerce to better reflect the full scope of the digital economy. (Refinitiv)

17:43:27

iPhone Sales Rebound Strongly: How Can Apple Break Its AI Dilemma? ⑴ Despite facing fierce market competition and uncertainty caused by Trump's tariff rhetoric, Apple reported quarterly results that exceeded expectations, sending its stock price up 2% in pre-market trading. ⑵ The financial report showed that Apple's revenue grew at its fastest pace since 2021, and it forecast "mid- to high-single-digit" growth for the current quarter, far exceeding analysts' expectations of 3.27%. ⑶ JPMorgan analysts noted that the sharp rebound in iPhone sales was surprising, especially in a quarter when consumers typically wait and see before new phone releases. ⑷ Apple CEO Tim Cook warned that Trump's tariff rhetoric would result in an additional $1.1 billion in costs this quarter, adding to the $800 million loss in the previous quarter. ⑸ Faced with fierce competition, Apple's AI development has lagged behind, and its stock price has fallen 17% this year, lagging behind the other "Magnificent Seven" companies. ⑹ Cook stated that the company is increasing its AI spending to catch up with competitors, but analysts believe that despite Apple's strong brand loyalty, it still needs to deliver AI results quickly.

17:43:19

Cloud Computing Giants Stall, Why Is Amazon Left Out? ⑴ Amazon's stock price plummeted nearly 8% in pre-market trading, driven by sluggish growth in its cloud computing division. ⑵ This performance stands in stark contrast to the strong growth of AI competitors Microsoft and Alphabet. ⑶ Data shows that Amazon AWS's second-quarter revenue grew 17.5%, while Microsoft Azure and Google Cloud saw sales surge 39% and 32%, respectively. ⑷ Analysts point out that investor sentiment is closely tied to the AI narrative, while AWS's performance has not lived up to market expectations. ⑸ Although AWS revenue accounts for only a small portion of Amazon's total revenue, its profits contribute approximately 60% of the company's overall operating income. ⑹ Amazon executives stated that their core retail business has been minimally impacted by Trump's tariff rhetoric, with no observed decrease in demand or significant price increases. ⑺ However, some analysts believe that the impact of tariffs may be delayed, as most of the inventory Amazon sold in the second quarter was purchased in the first quarter, leaving uncertainty ahead. ⑻ Despite this, its 12-month forward P/E ratio is 33.87, similar to Microsoft's 34.19 and much higher than Alphabet's 18.64.

17:36:42

Amidst market uncertainty, why are foreign giants bucking the trend and betting big on Indian bonds? ⑴ Despite heightened market uncertainty in July, foreign banks bucked the trend and increased their holdings of Indian government bonds. ⑵ Data shows that these banks purchased a net 114 billion rupees, or approximately $1.3 billion, of Indian government bonds in July. ⑶ Although trading volume was impacted by uncertainty, average daily trading volume fell to its lowest point since November last year, at just 451 billion rupees. ⑷ The contrarian approach of foreign banks may be related to some institutions' expectations that the Reserve Bank of India will cut interest rates in August. ⑸ Previous data showed that India's retail inflation hit a six-year low in June, and the market generally expects inflation to fall further in July, providing the Reserve Bank of India with ample room to cut interest rates. ⑹ Several institutions, including Citigroup and DBS Bank, predict that the Reserve Bank of India may cut interest rates by 25 basis points next week. ⑺ This move suggests that the market is divided on the future direction of the Indian economy, with some investors already positioning themselves in advance, betting on loose monetary policy. ⑻ Despite the sluggish trading volume, this huge bet by foreign capital has undoubtedly injected an unusual signal into the market.

17:36:10

[The AI wave surges again, will giants bet their fortunes on it by 2027?] ⑴ Giants are accelerating their deployment in the AI field. ⑵ According to Refinitiv data, a well-known fast food giant is planning to double its AI investment by 2027. ⑶ Although the specific investment amount has not yet been disclosed, executives revealed that the company has made India a core base for data governance, engineering design, and platform architecture, demonstrating its commitment to its AI strategy. ⑷ Furthermore, the company's AI advancement focuses not simply on increasing headcount, but rather on investing in technology and tools. ⑸ This move may mean that AI technology will be more deeply integrated into the giant's operations in the future, fundamentally transforming its business model and efficiency. ⑹ The company's AI strategic layout may trigger more consumer giants to follow suit, thus having a profound impact on the entire industry ecosystem. ⑺ Future market competition may be a competition for the efficiency of AI technology application.

17:35:23

South Korea's trade minister: No written agreement on South Korea-U.S. trade deal

17:35:23

South Korean Finance Minister: A specific plan for a $350 million investment will be formulated

17:34:27

[Alert! Inflation Surpasses Expectations, Has ECB Rate Cut Expectations Failed?] ⑴ The latest data shows that the Eurozone's preliminary CPI for July reached 2.0% year-on-year, exceeding expectations of 1.9%. The core CPI was in line with expectations at 2.3%. ⑵ European government bond yields remained high following the data release. Specifically, the German 10-year bond yield rose 2 basis points to 2.711%. ⑶ Analysts indicate that inflation is likely to remain above the ECB's expectations in the coming quarters. This suggests that further ECB rate cuts are unlikely, and the market should be wary of any repricing of rate cut expectations. ⑷ This change reflects market concerns about the ECB's future policy path. Traders should closely monitor subsequent data releases and the latest statements from central bank officials, cautiously preparing for potential market volatility. ⑸ Volatility in risky assets may increase amidst continued inflationary pressures. ⑹ Investors should comprehensively consider macroeconomic data and technical indicators to develop flexible trading strategies.

17:31:32

[Market liquidity indicator: ECB overnight deposits hit a new high, while banks' willingness to borrow plummeted to zero] ⑴ On Friday (August 1st, Beijing time), the latest data released by the European Central Bank (ECB) showed that the use of overnight deposit tools reached 2565.964 billion euros. ⑵ This figure not only exceeded the 2554.861 billion euros of the previous trading day, but also set a new historical high. ⑶ The surge in the use of deposit tools reflects the ample liquidity in the eurozone banking system. ⑷ At the same time, the use of overnight borrowing tools plummeted from 48 million euros in the previous trading day to zero. ⑸ This data shows that banks no longer have any demand for borrowing, further confirming the loose state of market liquidity. ⑹ The ECB's current account holdings also decreased from 243.713 billion euros the previous day to 210.541 billion euros. ⑺ These changes in market trading psychology and bank behavior are a direct reflection of the current eurozone monetary policy environment and market funding conditions.

17:17:58

GBP/JPY just touched the 198.00 mark and is currently trading at 198.00, down 0.50% on the day.

17:17:56

Non-ferrous metals are under pressure across the board: Copper prices plummeted 2.6%, hit by a double blow from US tariff talk and weak demand! ⑴ Non-ferrous metal prices fell across the board on Friday (August 1st, Beijing time), with LME three-month copper falling 0.2% to $9,590.50 per ton. ⑵ LME three-month aluminum fell 0.4% to $2,552.50 per ton. ⑶ BMI analysts noted in a report that metal prices fell across the board this week, as the market digested US tariff talk, a stronger dollar, and weak demand. ⑷ Copper and aluminum prices fell 2.6% and 3.5%, respectively, this week. ⑸ BMI analysts said that New York-traded copper prices plunged more than 20% on Thursday after the Trump administration announced that tariffs would not apply to refined copper imports. ⑹ This nearly wiped out weeks of gains and significantly narrowed the premium between US and LME prices. ⑺ Other base metals, including aluminum and nickel, also declined due to continued weak demand. ⑻ LME three-month nickel fell 3.9% this week to $14,865/ton

17:16:43

Preliminary reading of the eurozone's unadjusted CPI for July

Previous : 129.07 Forecast : -

Published Value 129.10

17:16:41

Eurozone inflation exceeded expectations at 2.0%, halting EUR/USD's decline; the 1.14 level serves as a key defense. ⑴ The preliminary Eurozone Harmonized Consumer Price Index (HICP) for July remained flat at 2.0% year-on-year, exceeding market expectations for a decline to 1.9%. ⑵ Following the release of this data, EUR/USD rebounded slightly after hitting 1.1405. ⑶ The pair's lows on Wednesday and Thursday were 1.1401 and 1.1405, respectively. ⑷ These lows suggest significant buying interest around 1.1400. ⑸ The EUR/USD lows may be a defensive result of option barriers. ⑹ If the EUR/USD rebound remains weak, stop-loss orders below 1.1400 could be triggered. ⑺ Recently, as more countries attempt to influence their currencies through intervention, the influence of foreign exchange market intervention may be increasing.

17:16:36

Preliminary monthly rate of the eurozone's harmonized CPI excluding food, energy, tobacco and alcohol for July

Previous : 0.40% Forecast : -

Published Value -0.20%

17:16:31

[Chevron Earnings Preview: Quarterly Revenue May Fall 14% Due to Falling Oil Prices, But Analysts Remain Positive] ⑴ On Thursday (August 1st) Beijing time, oil giant Chevron (CVX) shares fell 1% to $151.81 as the market awaited its upcoming quarterly earnings. ⑵ According to LSEG data, Wall Street analysts expect Chevron's operating revenue to fall 14% year-over-year to $44 billion. ⑶ Earnings per share are expected to be $1.70, significantly lower than $2.55 in the same period last year. ⑷ The main reason for the decline in earnings is volatility in the crude oil market from April to June. ⑸ Continued production increases by the OPEC+ group of oil-producing countries put pressure on oil prices, causing Brent crude oil to fall approximately 10% last quarter. ⑹ Despite the weak earnings forecast, analysts remain optimistic. ⑺ According to LSEG data, 24 analysts have an average "buy" rating on Chevron, with a median price target of $168. ⑻ In the past eight quarters, Chevron has exceeded or met earnings per share expectations five times. ⑼ In addition, Chevron's stock price has risen by approximately 5% this year, outperforming the S&P 500 Energy Index, which has risen by approximately 2% over the same period.

17:07:43

[Gold Consumption Exceeds 500 Tons in the First Half of the Year! Jewelry Consumption Plummets 26%, While Gold Bars and Coins Surged Over 23%] ⑴ According to the latest statistics from the China Gold Association, China's gold production in the first half of 2025 was 179.083 tons, a year-on-year decrease of 0.31%. ⑵ Including 76.678 tons of gold produced from imported raw materials, the country produced a total of 252.761 tons of gold, a year-on-year increase of 0.44%. ⑶ During the same period, national gold consumption reached 505.205 tons, a year-on-year decrease of 3.54%. ⑷ Within the consumption structure, gold jewelry consumption was 199.826 tons, a sharp year-on-year decrease of 26%. ⑸ In sharp contrast, consumption of gold bars and coins bucked the trend and surged to 264.242 tons, a year-on-year increase of 23.69%. ⑹ Consumption of gold for industrial and other uses also continued to grow, reaching 41.137 tons, a year-on-year increase of 2.59%. ⑺ This combination of data reveals structural changes within the gold consumption market in the first half of the year. ⑻ Investment demand has increased significantly, while jewelry consumption demand has shrunk significantly due to various factors

17:05:32

Eurozone inflation remains flat at 2.0%, with the ECB taking a cautious stance, but risks from trade wars and Chinese dumping remain. ⑴ Eurozone inflation stabilized at the ECB's 2% target in July, Beijing time, on Friday (August 1st). ⑵ This confirms the bank's dovish outlook on prices and supports its stance of keeping interest rates unchanged after a significant rate cut. ⑶ Headline inflation remained at 2.0%, with core inflation also stable at 2.3%. ⑷ Although service sector price growth slowed slightly, this was offset by a rebound in goods inflation. ⑸ ING economist Carsten Brzeski stated that recent trade developments and a weaker euro have reduced pressure on the ECB to further cut interest rates to support growth. ⑹ Combined with weak but positive GDP growth in the second quarter, the bar for another rate cut this year has clearly risen. ⑺ Financial markets are pricing in a less than 50% chance of another rate cut this year, suggesting that the bar for policy easing has risen since the tentative trade agreement between the EU and the US was reached. ⑻ Although tariffs will drag down growth and reduce price pressures, the market has already priced in most of the impact. ⑼ Some within the ECB are concerned that trade barriers could weigh on prices more than expected, leading to below-target inflation in the coming years. ⑽ Nomura Securities said that national-level data to date do not show signs of Chinese dumping.

17:05:08

Focus: Will the non-farm payroll report stimulate Trump again? Forecasts imply weak expectations Details>

17:00:04

The preliminary annual rate of the eurozone's harmonized CPI excluding food, energy, tobacco and alcohol for July

Previous : 2.30% Forecast : 2.20%

Published Value 2.30%

17:00:03

Eurozone core harmonized CPI annual rate for July - unadjusted preliminary value

Previous : 2.40% Forecast : 2.30%

欧元金银

美元

Published Value 2.40%

17:00:02

Eurozone harmonized CPI annual rate for July - unadjusted preliminary value

Previous : 2% Forecast : 1.90%

欧元金银

美元

Published Value 2%

16:57:07

The US dollar remains strong, will the non-farm payroll data be a turning point? Details>

16:51:04

MARC maintains Sunway Group's credit rating at "stable" despite slowing new project sales and rising debt, despite a strong project pipeline. (1) Malaysian rating agency MARC has affirmed the ratings of several Sunway Group issuances, all with a "stable" outlook. (2) These include Sunway Berhad's RM2 billion commercial paper/medium-term note program (MARC-1/AA-), RM5 billion perpetual Islamic bond program (AIS), and Sunway Khazanah Sukuk Sdn Bhd's RM10 billion Islamic medium-term note program (AA-IS). (4) Sunway Group's solid market position and strong operating track record in the real estate and construction sectors are key strengths of its ratings. (5) Sunway Group had approximately RM4 billion in unbilled sales as of the end of the first quarter of 2025, providing earnings visibility for the next three years. (6) However, execution risks associated with the group's growing borrowings and business expansion, particularly in its international property development and domestic healthcare sectors, continue to weigh on its credit profile. 7. In the first quarter of 2025, the Group's revenue increased by 66.8% to RM2.4 billion, and pre-tax profit increased to RM304.1 million. 8. Meanwhile, total borrowings increased by RM381.9 million to RM11.3 billion, maintaining a debt-to-equity ratio of 0.70 times. 9. Furthermore, theme park visitor numbers decreased to 430,000 from 515,000 in the same period last year. 10. The healthcare division's profit decreased slightly from RM36.8 million to RM31.8 million, primarily due to startup losses at the new hospital.

16:43:54

Malaysian Trade Minister: US tariffs on Malaysian goods will take effect on August 8

16:43:37

The head of the Ukrainian presidential office said he had spoken with senior advisers from the UK, France, Germany and Italy.

16:43:34

Ukraine's presidential chief says Ukrainian partners confirm White House "positive signals" on decisive action and sanctions against Russia

16:43:21

The head of the Ukrainian presidential administration said he discussed preparations for a security agreement between Ukraine and the United States with financial support from European partners.

16:41:56

The US dollar surged 2.5% in a single week! After six consecutive days of gains, there is still room for growth. Non-US currencies are collectively "fighting royale"! Details>

16:38:05

[30% Tariff Shockwave: Valve Companies Face a Fatal Blow to Exports, Even Weak Exchange Rates Can't Make Up for It] ⑴ An executive at a valve company stated that due to the new tariff regulations, starting August 1st, their exports to the US will be subject to an additional fee equivalent to 30% of the invoice value upon arrival. ⑵ This poses a huge challenge for the company. ⑶ The executive noted that this move will effectively "neutralize" the US market for them. ⑷ Because even a weaker exchange rate cannot offset the 30% tariff. ⑸ Although the US typically has low import tariffs, a sudden and significant increase to 30% would completely stifle market opportunities. ⑹ The US is the main export market for the company's flagship product, the "vento mate at GX two," so potential losses in this market are crucial. ⑺ The executive also mentioned that the company is already facing extreme difficulties in the steel industry, and the new tariff measures will exacerbate the situation. ⑻ He emphasized that the longer the tariffs are in place, the greater the negative impact on the company.

16:36:52

[South Korea's stock market plummeted 3.9%! The government denied that tax reform was the culprit, and investors' doubts grew] ⑴ On Friday (August 1st) Beijing time, a spokesman for the South Korean presidential office said that the decline in domestic stock markets that day was unlikely to be caused by the annual tax law revision announced the day before. ⑵ The spokesman stressed that there is currently no discussion about revising the proposed measures. ⑶ However, South Korea's benchmark stock index KOSPI fell 3.9% on Friday, the largest single-day drop since April 7th. ⑷ Previously, the South Korean government proposed to increase corporate income tax and stock investment tax. ⑸ This proposal has aroused investors' doubts about the government's promotion of market reforms and is widely regarded as an important factor in the stock market decline. ⑹ The statement of the presidential office is in sharp contrast to market sentiment. ⑺ Market trading psychology is obviously affected by expectations of tax reform, rather than being irrelevant as the presidential office believes. ⑻ This disagreement highlights the huge gap between the government and investors in policy interpretation and market impact assessment.

16:35:55

French Manufacturing New Orders Plummet! July PMI Falls to New Low for the Year, Heightening Concerns About Global Trade Tensions. ⑴ A survey showed on Friday (August 1st, Beijing time) that new orders for French manufacturing in July saw their fastest decline since January. ⑵ This was primarily due to a sharp drop in demand for goods, particularly overseas. ⑶ Although the HCOB French Manufacturing PMI rose slightly to 48.2 in July from 48.1 in June, it remained below the 50.0 boom-bust mark for the 19th consecutive month, indicating a continued mild decline in French factory conditions. ⑷ Jonas Feldhusen, an economist at Hamburger Commerzbank, noted that the economic outlook for the French manufacturing industry had deteriorated significantly at the start of the second half of the year. ⑸ Despite a slight increase in the overall index, the sharp deterioration in order volumes and business expectations is cause for concern. ⑹ The survey showed that customer hesitancy and domestic economic headwinds were the main factors behind the decline in orders. ⑺ New export sales also fell sharply, reaching their lowest level this year. ⑻ Despite this, factory employment saw a slight increase for the third consecutive month, but this was primarily concentrated in temporary workers. ⑼ In addition, French manufacturers' delivery times have lengthened to their worst level in two and a half years due to labor shortages and strikes at suppliers. ⑽ The survey highlights that growing uncertainty stemming from global trade tensions and domestic austerity measures could create further headwinds in the coming months.

16:35:15

UK 10-Year Gilt Yield Surges 7 Basis Points, Largest Gain in a Month (Note: The following appears to be unrelated text fragments and should be omitted.) ⑴ On Friday (August 1st) Beijing time, the benchmark 10-year UK gilt yield surged 7 basis points. ⑵ This marked the largest single-day increase since July 2nd, as investors digested the impact of tariff rhetoric on Canada, India, and other countries. ⑶ At 4:24 PM Beijing time that day, the 10-year UK gilt yield was 4.641%, slightly down from its intraday high of 4.653%. ⑷ In comparison, US and German bond yields of the same maturity rose by approximately 3 basis points over the same period. ⑸ The 30-year UK gilt yield also rose 7 basis points to 5.446%. ⑹ The 2-year gilt yield rose 3 basis points, ahead of the Bank of England's expected interest rate cut next week. ⑺ LSEG data shows that financial markets believe the probability of a 25 basis point rate cut by the Bank of England on August 7th exceeds 80%. ⑻ It is expected that the interest rate will drop from 4.25% to 4% after the rate cut, and the possibility of another 25 basis points cut to 3.75% before the end of the year is also similar.

16:34:50

[Foreign Exchange Market Turmoil: Multiple Central Banks Intensify Intervention, Hidden Signs Behind the Swiss Franc's Strength!] ⑴ As many countries attempt to influence their currencies in response to the trade war, the influence of foreign exchange market intervention is growing. ⑵ Following the escalation of the trade war in April, the US dollar was sold off, but subsequently rebounded as traders covered their short positions. ⑶ As a result, the Japanese yen and some emerging market currencies plummeted, while the Swiss franc continued to strengthen. ⑷ Japan's Finance Minister expressed alarm at the yen's performance. Markets widely believe that the Reserve Bank of India has begun intervention, while a sharp increase in Swiss deposits suggests that the Swiss National Bank is intervening heavily to prevent the Swiss franc's appreciation. ⑸ The Reserve Bank of India's selling of US dollars could lead to buying of the US dollar against major currencies such as the euro, yen, and pound. ⑹ The Swiss National Bank's interventions are often substantial, and its foreign exchange reserves are primarily composed of US dollars and euros. These flows could dampen EUR/USD volatility and provide support for the euro before rebalancing flows put pressure on it. 7. The scale of the Bank of Japan's intervention could also be very large, but its effectiveness would be greatly reduced as traders unwind their long yen bets. 8. Any intervention measures are likely to be delayed until the yen's decline extends further, which suggests that future foreign exchange market volatility will further increase.

16:32:46

Truck Giant's Profits Slammed: Performance Cut in Half, a Double Hack from North America and Tariffs? (1) Germany's Daimler Trucks lowered its full-year outlook, citing weakness in the North American heavy-duty truck market and ongoing uncertainty related to tariffs. (2) The company's share price fell 5% in European trading, but remains up 11% year-to-date. (3) Daimler Trucks lowered its full-year adjusted operating profit forecast to between €3.6 billion and €4.1 billion. (4) This is significantly lower than last year's €4.67 billion. (5) Despite a second-quarter net profit of €277 million, revenue fell from €12.425 billion to €11.67 billion. (6) Bernstein analysts say the magnitude of the downward revision indicates weakening pricing, which may disappoint some investors. (7) The analyst also noted that Daimler Trucks' outlook may remain risky given a US investigation. (8) Daimler Trucks emphasized that its outlook could be revised again if the tariff situation or economic conditions change. (9) This series of actions reveals the profound impact of macroeconomic uncertainty on the real economy.

16:31:17

UK Manufacturing PMI Contracts for Tenth Consecutive Month, But Are There Signs of Recovery? (1) A survey released on Friday (August 1st, Beijing time) showed that the UK manufacturing sector is gradually emerging from the recent difficulties caused by tariff talk and tax increases. (2) The manufacturing Purchasing Managers' Index (PMI) improved for the fourth consecutive month in July, rising to 48.0 from 47.7 in June. (3) Although the index remained below the 50.0 boom-bust line for the tenth consecutive month, it was the slowest monthly contraction since January. (4) Optimism among UK manufacturer executives also reached a five-month high. (5) Rob Dobson, Director of S&P Global Market Intelligence, noted that the UK manufacturing sector has begun to show some initial positive signs. (6) However, as businesses face higher labor costs, the sector's employment indicator has fallen again, and jobs may be further affected in the coming months. (7) Dobson believes that manufacturers are likely to remain cautious before Chancellor of the Exchequer Rachel Reeves releases her new annual tax and spending plans in the fall. ⑻ With the Bank of England expected to cut interest rates next week, it will assess the persistence of inflationary pressures and the extent of the sluggish job market

16:30:14

The final reading of the UK's SPGI Manufacturing PMI for July

Previous : 48.20 Forecast : 48.20

Published Value 48

16:29:42

Malaysian Trade Minister: US seeks to remove Malaysia's excise taxes on cars, tobacco, alcohol

16:29:23

Malaysian Trade Minister: We will continue to fight for 0% tariffs with us, especially for goods that the United States does not produce

16:28:58

Malaysia's Trade Minister: There is no agreement or requirement to exclusively supply rare earths to the United States during tariff negotiations. (Refinitiv)

16:28:26

[Russian pipeline natural gas exports to Europe surge 37%: TurkStream becomes sole route to Europe, supply recovery draws attention!] ⑴ On Friday (August 1st, Beijing time), Reuters calculations showed that Russian energy giant Gazprom's average daily natural gas supplies to Europe increased by 37% month-on-month in July. ⑵ This followed a reduction in June due to maintenance work. ⑶ After Ukraine chose not to extend its five-year transit agreement with Moscow, the TurkStream submarine pipeline has become the sole transit route for Russian natural gas to Europe. ⑷ Data from European gas transmission group Entsog shows that Russian natural gas exports via the TurkStream pipeline increased from 37.6 million cubic meters per day in June to 51.5 million cubic meters per day in July. ⑸ This figure is 4.7% higher than the 49.2 million cubic meters per day in July 2024. (6) According to Reuters calculations, total Russian natural gas supplies to Europe via the TurkStream pipeline in the first half of this year were approximately 9.93 billion cubic meters, compared to 9.3 billion cubic meters in the same period last year. (7) Gazprom has not published monthly statistics since the beginning of 2023 and did not respond to requests for comment. (8) At its peak in 2018-2019, annual Russian natural gas flows to Europe reached 175 to 180 billion cubic meters.

16:28:13

Spot platinum just broke through the $1,260.00/oz mark and was last trading at $1,259.93/oz, down 3.51% on the day. The main Nymex platinum futures contract was last trading at $1,273.3/oz, down 1.99% on the day.

16:27:28

Trump imposes 39% tariff on Swiss watches, sending retailers' stocks plummeting. (1) After US President Trump announced a 39% tariff on Swiss imports, Swiss Watch Group's stock price plummeted 6%. (2) The group, a major retailer of Rolex and other luxury Swiss watches in the UK and US, was the first to be hit by these tariffs. (3) Due to the closure of Swiss financial markets, manufacturers such as Richemont and Swatch Group were not affected. (4) This spring, Trump threatened a 31% tariff, which initially surged but then fell back in Swiss watch exports. (5) Analysts estimate that if the 39% tariff is implemented, prices in the US could rise by over 20%, but this policy remains a negotiating tactic.

16:24:41

The UK's 10-year gilt yield rose 7 basis points to 4.64% on the day, on track for its biggest one-day gain since July 2.

16:23:39

The Shanghai Meteorological Observatory lifted the yellow high temperature warning signal at 16:15 on August 1, 2025: According to the latest meteorological data analysis, the temperature in the city has dropped, and the yellow high temperature warning signal in the city has been lifted today.

16:23:24

Roku's stock fell 4.4% in pre-market trading after the second-quarter earnings report was released.

16:23:00

UBS: Lowered Ferrari's target price from $560 to $540.

16:22:04

[Analyst: USD/JPY breaks through 200-day moving average, eyeing resistance at 151.30] ⑴ USD/JPY closed above its 200-day moving average for the first time since early February, with historical data suggesting a bullish trend over the next one to three months. ⑵ Key resistance lies at 151.30 (a double top seen in March), with short-term trends driven by US non-farm payroll data. ⑶ Declining risk appetite weighed on crosses, leading USD/JPY to retreat slightly from its highs. ⑷ Support is being provided by the 200-day moving averages of 149.59 and 149.19, suggesting a less than 50% probability of a September rate cut by the Federal Reserve.

16:21:41

Eurozone Manufacturing PMI Hits Three-Year High in July, Approaching the Boom-Bull Line (1) The final Eurozone Manufacturing PMI for July was 49.8, unchanged from the preliminary reading and up from 49.5 in June, reaching its highest level since July 2021. (2) Industrial output grew for the fifth consecutive month, but the output index fell from 50.8 to 50.6, a four-month low. (3) Germany's Manufacturing PMI rose to a 35-month high of 49.1, while France and Austria's PMIs were both at 48.2, tied for last place. (4) Analysts noted that the framework trade agreement reached between Europe and the United States will help reduce uncertainty, and the manufacturing recovery trend is expected to continue.

16:19:22

Germany's July Manufacturing PMI Hit a Three-Year High: (1) Germany's July Manufacturing PMI was revised down to 49.1 from a preliminary reading of 49.2, slightly higher than June's 49.0. While still in contraction territory, it reached its highest level in nearly three years. (2) Improvements in employment, purchasing inventories, and supplier delivery times offset the slowdown in output and new orders. (3) Input costs continued to decline, primarily due to weakening supplier pricing power and a stronger euro, leading to a third consecutive month of decline in factory gate prices. (4) Manufacturers remained optimistic about the growth outlook for the coming year, but the confidence index declined slightly from its June peak.

16:19:10

Italy's Manufacturing PMI rebounded to 49.8 in July, approaching the boom-bust line. (1) Italy's manufacturing PMI rose to 49.8 in July from 48.4 in June, exceeding market expectations of 49.0 and marking the slowest contraction since March 2024. (2) New orders declined only slightly, and the decline in output narrowed compared to the previous month. Employment declined for the tenth consecutive month, primarily due to voluntary resignations rather than layoffs. (3) Input costs and output prices rose simultaneously for the first time in three months, primarily due to rising raw material costs. (4) Business confidence improved, driven by optimistic expectations for the economic and geopolitical situation, new product launches, and customer acquisition.

16:18:13

Italy's June Retail Sales Grew by 0.6% Month-Over-Month, Surpassing Expectations. (1) Italy's June retail sales rose by 0.6% month-over-month, a significant rebound from the 0.4% decline in May and far exceeding market expectations for a 0.2% increase. (2) Food sales rebounded significantly (1.4% vs. -0.8% in May), while non-food sales saw a slight increase (0.1% vs. 0%). (3) Despite the uncertainty created by the US-China trade war, the data confirms the strengthening domestic demand trend in Italy shown in the recent GDP report. (4) Retail sales grew by 1% year-over-year in June.

16:17:32

Turkey's Manufacturing PMI fell to 45.9 in July, hitting a nine-month low. (1) Turkey's manufacturing PMI fell to 45.9 in July from 46.7 in June, marking the 16th consecutive month of contraction and the largest drop since October 2024. (2) New orders declined for 25 consecutive months, with export orders also weakening, leading manufacturers to cut production at the fastest pace in 10 months. (3) Employment declined for eight consecutive months, purchasing activity decreased, and raw material inventories fell by the largest amount since October 2024. (4) Finished goods inventories resumed decline after a brief rebound in June. (5) Input costs remained high due to currency depreciation, but inflation slowed to its lowest level this year. (6) Some companies lowered their quotes to promote sales, resulting in only a slight increase in output prices.

16:16:40

French Manufacturing PMI Continues to Shrink in July: ⑴ France's manufacturing PMI for July came in at 48.2, slightly lower than the preliminary reading of 48.4 and roughly unchanged from 48.1 in June. ⑵ The reading remained below the 50-point mark for several consecutive months, indicating continued weakness in the manufacturing sector. ⑶ A sharp decline in new orders, weighed down by weak domestic demand and declining exports, put pressure on production. ⑷ The business confidence index fell to its lowest level since February.

16:16:27

Thailand's Business Confidence Index fell to a 10-month low in July. (1) Thailand's business confidence index fell to 45.8 in July from 48.6 in June, reaching its lowest level since September 2024. (2) Detailed data showed that the operating conditions index plummeted from 49.3 to 44.3, and the production index fell from 51.0 to 45.1, with output in the plastics, food processing, and electrical appliance industries shrinking significantly. (3) The employment index (48.6 vs. 49.6), total order volume (45.6 vs. 48.0), and export conditions (44.3 vs. 48.4) continued to deteriorate, while investment confidence weakened (50.6 vs. 52.0). (4) The output cost index rose slightly to 44.6, indicating a slight increase in cost pressures in the industry. (5) The forward-looking three-month business expectations index fell from 49.5 to 47.9, reaching its lowest level since August 2021.

16:15:54

India's Manufacturing Purchasing Managers' Index (PMI) hit a 16-month high of 59.1 in July. (1) S&P Global data showed that India's manufacturing purchasing managers' index (PMI) rose to 59.1 in July, a 16-month high, from 58.4 in June and slightly lower than the preliminary reading of 59.2. (2) The accelerated expansion of new orders was primarily due to improved demand and the effectiveness of marketing initiatives, but the growth rate of export orders slowed. (3) Output growth hit a 15-month high in July, as manufacturers continued to expand employment. (4) While businesses remain optimistic about output over the next 12 months, confidence levels are at their lowest in three years. (5) The survey showed a mild intensification of inflationary pressures, but output prices rose only slightly.

16:14:45

Italy's June Retail Sales Grew 0.6% Month-Over-Month and 1.0% Year-Over-Year. (1) Italy's June retail sales rose 0.6% month-over-month, after a 0.4% decline in the previous month. (2) According to the Italian National Institute of Statistics, unadjusted year-over-year retail sales rose 1.0% in June. (3) This data is calculated in dollar terms, without adjusting for consumer prices. Italy's EU-harmonized consumer price index (HICP) rose 1.8% year-over-year in June.

16:14:23

[WeChat Pay Response to Withdrawal Fee Rules: Minimum Single Transaction Fee of 0.01 RMB] ⑴ Tencent's official customer service has responded to recent discussions regarding the "WeChat withdrawal fee cap of 0.01 RMB." ⑵ WeChat Pay withdrawal rules state that after the free withdrawal limit is exhausted, a 0.1% service fee will be charged for any excess, with a minimum single transaction fee of 0.01 RMB. ⑶ All WeChat Pay accounts under the same ID card share a lifetime free withdrawal limit of 1,000 RMB, and any excess cannot be increased. ⑷ Users can redeem free withdrawal coupons through "Payment Discounts" or "Receive Rewards Points" to reduce their fee expenses.

16:13:06

Huawei's Hongmeng booth debuted at ChinaJoy, showcasing new ways to play large-screen games. (1) The 22nd ChinaJoy was held at the Shanghai New International Expo Center, and Huawei's Hongmeng booth attracted significant attention. (2) Huawei TV's floating touch game feature offers a new large-screen gaming experience, controlled by a new Star Flash floating touch controller. (3) This controller, resembling a touchpad, supports finger hovering for popular games like "QQ Speed." (4) The controller's built-in engine ensures stable game performance and features vibration feedback for enhanced immersion.

16:12:48

Renault Korea: Global sales in July increased by 33.1% year-on-year to 7,251 vehicles.

16:12:30

Malaysian Trade Minister: The Malaysian and US governments will issue a joint statement on tariffs.

16:12:22

The Legal Affairs Commissions of the Standing Committees of the People's Congresses of Shanghai, Jiangsu, Zhejiang, and Anhui Provinces held a joint press conference on the 1st to jointly announce the "Decision on Promoting the Coordinated Development of Scientific and Technological Innovation in the Yangtze River Delta," which was voted and approved by the Standing Committees of the People's Congresses of the three provinces and one city. The decision, which will take effect on September 1, 2025, is the first legal decision in the Yangtze River Delta region to be formulated through coordinated legislation for the coordinated development of scientific and technological innovation. It is another important achievement of the Yangtze River Delta region's people's congresses in strengthening coordinated legislation following the revision of the Legislative Law of the People's Republic of China, marking a new stage in the legalization of the coordinated development of scientific and technological innovation in the Yangtze River Delta. (Xinhua News Agency)

16:11:58

Malaysian Minister: Pharmaceutical and semiconductor products are exempt from US tariffs.

7

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Real-Time Popular Commodities

Instrument	Current Price	Change
XAU	3363.16	73.24 (2.23%)
XAG	37.003	0.319 (0.87%)
CONC	67.26	-2.00 (-2.89%)
OILC	69.48	-2.30 (-3.20%)
USD	98.678	-1.389 (-1.39%)
EURUSD	1.1594	0.0001 (0.01%)
GBPUSD	1.3282	-0.0001 (-0.00%)
USDCNH	7.1909	-0.0006 (-0.01%)

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