Core Viewpoint - The USD/JPY exchange rate is experiencing a narrow fluctuation around the key level of 156.7000, influenced by the divergence in monetary policies between the US and Japan, interest rate differentials, and geopolitical factors [1][2]. Monetary Policy - The Bank of Japan (BoJ) is expected to complete two interest rate hikes by the end of 2025, raising the policy rate to 0.75%, the highest level since 1995, indicating a significant shift from its ultra-loose monetary policy [1]. - The divergence between the BoJ's hawkish signals and the Federal Reserve's expectations for rate cuts creates a competitive dynamic in the currency market [1]. - Market skepticism regarding the pace of future rate hikes in Japan exists due to factors like energy subsidies and stable food prices, which may keep inflation moderate and limit the speed of policy tightening [1]. Economic Data - Recent US manufacturing data has shown mixed results, reinforcing market perceptions of slowing economic momentum, which is a key factor in limiting the dollar's rebound potential [2]. - Japan's December manufacturing PMI rose to 50.0, indicating a stabilization in demand, which supports the BoJ's potential for further rate hikes [2]. - The upcoming US non-farm payroll report is anticipated to significantly influence market expectations regarding the Federal Reserve's policy direction, thereby affecting the USD/JPY exchange rate [2]. Technical Analysis - The USD/JPY is currently in an upward channel, but the momentum has slowed down recently, with daily moving averages flattening, indicating a consolidation phase [3]. - Key support levels are identified at the 155 mark and the 50-day moving average, while resistance is noted at the November 20 high of 157.89 [3]. - The interest rate differential remains a crucial variable influencing the USD/JPY exchange rate, with the divergence in monetary policies expected to continue into 2026 [3].

Group 1 - The latest price of COMEX silver futures is 81.40, with a high of 82.59 and a low of 81.18, compared to the previous close of 81.22 [1]

金投白银网提供今日白银期货价格走势_今天白银期货价格走势（2026年1月7日） 打开APP，查看更多高清行情》 金投白银网(http://ag.cngold.org)为您提供最新白银期货价格、白银期货合约、白银期货交易以及白银期 货走势，更多白银期货行情敬请关注：白银期货专栏 备注：以上白银的价格仅供参考，请以官方报价为准。如对白银投资有疑问可咨询本站客服。 今日白银期货价格查询（2026年1月7日） | 名称 | 最新价 | 最高价 | 最低价 | 昨收价 | | --- | --- | --- | --- | --- | | 沪银主力 | 19945.00 | 20235.00 | 19280.00 | 19452.00 | ...

Group 1 - The National Venture Capital Guiding Fund officially commenced operations on December 26, 2025, marking a significant step in the implementation of technology finance policies [1] - The fund aims to support technological innovation and the cultivation of new productive forces through a market-oriented mechanism, with a total initial investment of 100 billion yuan from the national treasury [1] - The fund's structure includes a three-tier system of guiding fund companies, regional funds, and sub-funds, targeting a total funding scale of over one trillion yuan [1] Group 2 - The fund emphasizes early-stage, small, long-term investments in hard technology, with at least 70% of investments directed towards seed and startup companies [2] - The fund has a 20-year lifespan, with 10 years allocated for investment and another 10 years for exit, aligning with the growth patterns of long-cycle sectors like integrated circuits and artificial intelligence [2] - Regional funds are managed by professional institutions, focusing on strategic emerging industries such as aerospace, biomanufacturing, and future energy [2] Group 3 - The People's Bank of China announced a moderately loose monetary policy for 2025, aiming to promote stable economic growth and reasonable price recovery while maintaining adequate liquidity [3] - This monetary policy is designed to create a favorable financial environment for technological innovation, complementing the venture capital guiding fund to form a supportive system [3] - The industry association plans to continuously monitor the operation and investment effects of the venture capital guiding fund, guiding members to adapt to the monetary policy environment and focus on supporting the real economy and technological innovation [3]

Group 1 - The international gold price is currently trading around 1003 CNY per gram, with a latest quote of 1004.39 CNY per gram, reflecting a decline of 0.48% [1] - The highest price reached was 1010.61 CNY per gram, while the lowest was 1003.76 CNY per gram, indicating a short-term oscillating trend for gold [1] Group 2 - The U.S. and its allies have pledged to provide legally binding security guarantees to Ukraine during the "Alliance of Will" summit in Paris, aimed at strengthening security commitments to Kyiv [2] - Notable U.S. officials, including special envoy Steve Vitkov and military commander General Alexus Grinkevich, participated in the summit, discussing security guarantee details [2] - The alliance's statement includes participation in a U.S.-led ceasefire monitoring mechanism, although specifics remain less defined [2] Group 3 - Ukrainian President Zelensky emphasized the need for substantial discussions to progress, while leaders from France, the UK, Poland, and Italy highlighted transatlantic unity [3] - France and the UK signed a declaration of intent to deploy multinational forces post-ceasefire, with Macron suggesting the potential deployment of thousands of French troops [3] Group 4 - The gold market showed strong bullish momentum, with the opening price at 4448.4 USD, stabilizing after a dip to 4427.8 USD, and reaching a peak of 4500.5 USD [4] - The daily candlestick pattern indicates a continuation of bullish strength, with support levels to watch at 4465 USD and upward targets set at 4540 USD [4]

Market Overview - On January 6, Asian PX prices rebounded significantly due to a rise in raw material prices and market rumors that some PX plants have no immediate plans to restart, which boosted market sentiment [1] - The spot prices for February were negotiated at $898.5 to $911 per ton, while March prices were at $902 to $911 per ton [1] Profit Analysis - As of January 6, Asian PX prices increased by $19 per ton to $903 per ton, equivalent to a spot price of 7304 RMB per ton [1] Supply and Demand Dynamics - Supply: As of January 4, domestic PX operating rates were at 90.6%, while Asian PX operating rates were at 80.9% [1] - Demand: The restart of Dushan Energy's 2.5 million ton capacity and the low-load operation of Zhongtai's 1.2 million ton capacity were noted, with PTA operating rates at 78.1% [1] Market Outlook - Currently, PX profitability is favorable, leading to increased production at some domestic and international PX plants, maintaining high supply levels in January [1] - However, post-New Year, terminal operations are expected to decline, resulting in high supply and weak demand, which may pressure polyester plants to reduce production [1] - It is anticipated that the overall supply-demand balance for PX and PTA will weaken in the first quarter, with PX prices expected to fluctuate before the Spring Festival [1]

Core Viewpoint - The recent surge in nickel prices is primarily driven by Indonesia's reduction of nickel ore quotas and macroeconomic sentiment, with geopolitical tensions also contributing to increased discussions around the premium for non-ferrous metals [1] Group 1: Nickel Price Movement - The main nickel futures contract in China reached a new high of 146,150.00 CNY/ton, marking a continuous increase over four weeks [1] - The price increase is attributed to both supply constraints from Indonesia and heightened geopolitical tensions, particularly related to U.S. military actions in Venezuela [1] Group 2: Market Analysis - Jinrui Futures indicates that the narrative surrounding Indonesia's nickel ore quota reduction is currently unverified, with existing quotas still usable by mining companies in the first quarter, thus limiting immediate production impacts [1] - The future approval of additional quotas by the Indonesian government remains uncertain, which could affect market dynamics [1] Group 3: Supply and Demand Dynamics - Zhengxin Futures suggests that the nickel market is experiencing a tug-of-war between expectations of supply contraction and the reality of oversupply [1] - Short-term forecasts indicate that nickel prices may remain strong, influenced by the pace of Indonesian policy implementation and macroeconomic expectations [1] - There are concerns regarding whether the quota policies will be enacted and if downstream demand will recover sufficiently to reduce inventory levels, as sustained high inventory could increase the risk of price corrections [1]

Market Overview - The US dollar index is trading around 98.573, while spot silver opened at $81.26/oz and is currently around $80.57/oz. The silver T+D is trading at approximately 19,759 CNY/kg, and the main Shanghai silver contract is at 19,787 CNY/kg [1] - On January 6, the dollar index rose by 0.29% to close at 98.601, while spot silver closed at $81.21/oz, up 6.06%. This increase is attributed to strong safe-haven buying due to geopolitical tensions, with spot gold nearing $4,500 [1] - As of January 6, silver ETF holdings were at 16,118.16 tons, a decrease of 235.44 tons from the previous trading day [1] Geopolitical Developments - Venezuela is negotiating with the US regarding oil exports. During Maduro's early presidency, Venezuela shipped $5.2 billion worth of gold to Switzerland. Recent shipping data indicates that Venezuela's main oil terminal has only been exporting crude oil to the US company Chevron in the past five days [1] Silver Market Analysis - The silver market opened at 76.652, experienced a drop to a low of 75.836, and then surged to a high of 81.448 before closing at approximately 81.1. The market formed a long lower shadow bullish candlestick, indicating potential upward momentum [5] - Current trading strategies suggest maintaining long positions with stop-loss levels set at 79, targeting prices of 80.5, 81.2, and 82-82.6 [5]

Market Overview - On January 6, PTA futures experienced fluctuations and closed higher, with a relatively positive trading atmosphere in the spot market. The spot basis fluctuated within a range, with concentrated transactions in early January [1] - The main spot basis was at 05-46, with transactions occurring at 05-47 to 05-48 and later at 05-45 and 05-42 [1] Profitability - As of January 6, the PTA spot processing fee was around 296 yuan/ton, while the processing fees for TA2603 and TA2605 futures were 329 yuan/ton and 336 yuan/ton, respectively [1] Supply and Demand - Supply: As of January 4, Dushan Energy's 2.5 million tons facility resumed operations, while Zhongtai's 1.2 million tons facility restarted at low capacity. Weilian Chemical's 2.5 million tons facility increased its output, resulting in a PTA operating rate of 78.1% [1] - Demand: As of January 4, there was a mix of facility restarts and maintenance, with polyester operating rates at approximately 90.8%. On January 6, there were localized adjustments in the price of polyester yarn, with individual sales performance varying. Factory inventory levels were relatively low, but inventory slightly increased due to insufficient sales. If raw material prices stabilize, short-term prices are expected to remain steady, with attention on upcoming holiday and maintenance plans [1] Market Outlook - With the recovery of PTA processing fees, uncertainties regarding PTA facility maintenance in Q1 have increased. Some facilities are returning to supply, while downstream polyester production is expected to decrease seasonally before and after the Spring Festival, leading to heightened expectations of inventory accumulation for PTA in Q1. The combination of high supply, weak demand, and significant losses will gradually highlight the pressure on polyester factories, prompting some to implement production cuts and maintenance plans for January and February. The supply-demand outlook for PTA in January is expected to weaken, with limited self-driven momentum for PTA, primarily following raw material fluctuations. The strategy suggests PTA will oscillate between 5000-5200 in the short term, with a low bullish approach in the medium term [1]

一、同意中国人寿保险股份有限公司临沂分公司商城营销服务部将营业场所变更为：山东省临沂市兰山 区柳青街道(北城新区)广州路以南、沂蒙路以西曲沂社区沿街。 2025年12月30日，国家金融监督管理总局临沂监管分局发布批复称，《关于中国人寿保险股份有限公司 临沂分公司商城营销服务部营业场所地址变更的请示》(国寿人险临发〔2025〕130号)收悉。经审核， 现批复如下： 二、中国人寿保险股份有限公司应按照有关规定及时办理变更及许可证换领事宜。 ...