Economic Data Summary - Q2 GDP was revised up from +3.3% to +3.8%, marking the strongest quarter of growth since Q3 2023 [2] - Consumption increased significantly from +1.6% to +2.5%, indicating a stronger appetite among U.S. consumers [3] - The Price Index rose by 10 basis points, with headline inflation at +2.1% and core inflation at +2.6% [3] Job Market Insights - Initial Jobless Claims fell to 218K, down 17K from estimates and 64K lower than two weeks ago, reaching the lowest level since mid-summer [4] - Continuing Claims rose slightly to 1.926 million, remaining below 1.94 million for the third consecutive week [5] Manufacturing and Trade Data - August Durable Goods Orders increased by +2.9%, significantly better than the prior month's -2.7% and the consensus estimate of -0.5% [6] - The Advanced U.S. Trade Balance for August showed an improvement to -$85.5 billion from -$102.8 billion [7] - Advanced Retail Inventories remained unchanged, while Advanced Wholesale Inventories decreased to -0.2% [7] Market Expectations - Existing Home Sales for August are forecasted at 3.96 million, a decrease from July's 4.01 million [8] - Costco is expected to report fiscal Q4 results with a projected earnings growth of +12.8% year over year and +8.1% revenue growth [9]

Group 1 - The US dollar index rebounded, putting pressure on gold prices, which fell from a two-week high to around $3378 per ounce, although concerns over the independence of the Federal Reserve and new US tariff threats may alleviate downward pressure on gold prices [1] - The US Department of Commerce reported that July durable goods orders fell by 2.8% month-on-month, better than the expected decline of 3.8%, with a year-on-year increase of 3.5%, influenced by Boeing's order volatility and the fading "front-loading" effect from previous tariff policies [3] - The US Department of Homeland Security announced a 50% tariff on all Indian goods starting August 27, which has significantly impacted the Indian stock market, with the MSCI India index underperforming the MSCI Emerging Markets index for four consecutive months [3] Group 2 - Technical analysis indicates that gold prices have short-term resistance at the $3400 per ounce level, with a potential static resistance at $3440 per ounce if this level is breached [4][5] - Sellers need to break below the convergence of the 21-day and 50-day moving averages around $3350 per ounce to regain control, while the next solid support level is at the 100-day moving average of $3328 per ounce [5] - Gold prices have not closed below the 100-day moving average since December 31, 2024, indicating a persistent bullish trend [5]

Core Insights - The article discusses the recent financial performance of a specific company, highlighting significant revenue growth and improved profit margins [1] - It emphasizes the strategic initiatives undertaken by the company to enhance operational efficiency and market competitiveness [1] Financial Performance - The company reported a revenue increase of 15% year-over-year, reaching $2.5 billion [1] - Net profit margin improved from 10% to 12%, indicating better cost management and pricing strategies [1] Strategic Initiatives - The company has implemented a new digital transformation strategy aimed at optimizing supply chain operations [1] - Investment in research and development has increased by 20%, focusing on innovative product offerings [1] Market Position - The company has gained market share in its sector, now holding a 25% share compared to 22% last year [1] - Competitive analysis shows that the company is outperforming key rivals in terms of growth and profitability [1]

Economic Data Review - U.S. durable goods orders in June fell by 9.3% month-on-month, the largest decline since April 2020[1] - July manufacturing PMI in the U.S. dropped to 49.5, the lowest since December 2024[7] - Eurozone manufacturing PMI in July reached 49.8, the highest since July 2022[7] U.S. Economic Indicators - The WEI index for the U.S. decreased to 2.22% from 2.34% in the previous week[10] - The Redbook retail sales year-on-year growth in the U.S. fell to 5.1%, down from 5.2%[12] - The 30-year mortgage rate in the U.S. decreased to 6.74% from 6.75% the previous week[15] Financial Conditions - Bloomberg financial conditions index for the U.S. rose to 0.644 from 0.549 a week earlier[29] - The offshore dollar liquidity improved, with the 3-month basis swap for JPY/USD at -22.3589bp, up from -24.6876bp a week prior[31] - The 10-year bond yield spread between the U.S. and Eurozone narrowed to 167.7bp from 168.3bp[33]

Group 1 - The core point of the article is that U.S. durable goods orders decreased by 9.3% in June, which was better than the expected decline of 10.8% [1]

This Week's Key Focus - On July 21 at 09:15, the People's Bank of China is expected to announce that the 1-year LPR remains at 3.00% and the 5-year LPR at 3.50% [2][4] - On July 24 at 20:15, the European Central Bank will announce its interest rate decision, with an expected unchanged benchmark rate [2][15] - On July 25 at 20:30, the US Department of Commerce will release the preliminary value of June's durable goods orders [2] - On July 27 at 09:30, China's National Bureau of Statistics will announce June's industrial enterprise profits, with the previous value showing a 9.1% year-on-year decline and a 1.1% cumulative decline from January to May [2][19] - Other factors such as domestic macro - policy changes, international trade and tariff wars, international geopolitical situations, and speeches by US President Trump and Fed officials may impact the futures market [2] This Week's Hotspot Preview July 21 - At 10:00, the State Council Information Office will hold a press conference on the achievements of building a transportation powerhouse during the '14th Five - Year Plan' [3] July 22 - At 15:00, the State Council Information Office will hold a press conference on the first - half 2025 foreign exchange revenue and expenditure data [5] - At 20:30, Fed Chair Powell will give a welcome speech at a regulatory meeting, a rare 'live speech during the quiet period' [8] July 23 - At 22:00, the EU Statistics Bureau will release the preliminary value of the eurozone's July consumer confidence index, expected to be - 14.5 [9] - At 22:00, the US National Association of Realtors will announce June's existing home sales, with an expected annualized total of 4 million households and an annualized monthly rate of - 0.7%. Lower values may suppress non - ferrous metal futures prices [10] - At 22:30, the EIA will announce the change in US crude oil inventories for the week ending July 18. A continued decline may boost crude oil and related commodity futures [11] July 24 - At 9:30, the National Bureau of Statistics will announce the mid - July market prices of important production materials [12] - At 16:00, S&P Global will release the preliminary value of the eurozone's July SPGI manufacturing PMI, expected to be 49.8. A slight increase may slightly boost non - ferrous metal futures prices [13] - At 20:15, the European Central Bank will announce its interest rate decision, followed by a press conference by President Lagarde at 20:45 [15] - At 20:30, the US Department of Labor will announce the number of initial jobless claims for the week ending July 19, expected to be 215,000. A slight decrease may slightly boost non - gold and non - silver industrial product futures but suppress gold and silver futures [14] - At 21:45, S&P Global will release the preliminary value of the US July SPGI manufacturing PMI, expected to be 53.5. A slight increase may slightly boost non - ferrous metal futures prices [16] - At 22:00, the US Department of Commerce will announce June's new home sales, with an expected seasonally adjusted annualized total of 650,000 households and an annualized monthly rate of 4.3%. Higher values may boost non - ferrous metal futures prices but suppress gold and silver futures prices [17] July 25 - At 20:30, the US Department of Commerce will announce the preliminary monthly rate of June's durable goods orders, expected to be - 11%. A significant decrease may suppress non - ferrous metal futures but boost gold and silver futures [18] July 27 - At 09:30, China's National Bureau of Statistics will announce June's industrial enterprise profits [19]

Group 1 - The EU is considering lowering tariffs on a range of US imports to quickly reach a trade agreement with President Trump [2] - The US Treasury announced an agreement with G7 allies to protect US companies from certain taxes imposed by other countries, in exchange for removing the "899 retaliatory tax clause" from the "big and beautiful" tax reform [2] - The Federal Reserve Governor Daly indicated that increasing evidence suggests tariffs may not lead to significant or lasting inflation, which could support the case for interest rate cuts in the fall [2] Group 2 - The US real GDP for the first quarter declined at an annualized rate of 0.5%, a drop greater than the expected decline of 0.2%, marking the first contraction in three years [3] - The final value of US personal consumption was significantly revised down to only a 0.5% increase, the weakest quarterly performance since the COVID-19 pandemic began [4] - The core PCE price index in the US was revised up to 3.5%, indicating ongoing inflationary pressures [5] Group 3 - US initial jobless claims decreased by 10,000 to 236,000, below the expected 245,000, while the previous week's continuing claims rose to 1.974 million, the highest level since November 2021 [5] - US durable goods orders for May showed an initial month-on-month increase of 16.4%, the largest increase since July 2014, significantly exceeding the expected 8.5% [5] Group 4 - The Dow Jones Industrial Average rose by 404.41 points to 43,386.84; the S&P 500 increased by 48.86 points to 6,141.02; and the Nasdaq Composite gained 194.36 points to 20,167.91 [6]

Group 1 - The core point of the article is that U.S. durable goods orders for May showed a preliminary month-over-month increase of 16.4%, significantly exceeding the forecast of 8.5% [1]

Core Insights - In May, U.S. durable goods orders showed a preliminary month-over-month increase of 16.4%, significantly exceeding the expected growth of 8.5% and rebounding from a previous decline of 6.3% [1] Summary by Category - **Durable Goods Orders Performance** - The preliminary figure for May indicates a robust recovery in durable goods orders, suggesting strong demand in the manufacturing sector [1] - The substantial increase of 16.4% reflects a positive shift in consumer and business spending patterns [1] - **Comparative Analysis** - The current month's performance contrasts sharply with the previous month's decline of 6.3%, highlighting a significant turnaround in economic activity [1] - **Market Implications** - The better-than-expected results may influence market sentiment positively, potentially leading to increased investment in related sectors [1]

Group 1 - The article highlights the upcoming release of key economic indicators, including the final GDP for the first quarter in the United States, preliminary durable goods orders for May, and the trade balance for goods [1] - Additionally, it mentions the weekly initial claims for unemployment benefits for the week ending June 21 [1]