打开APP，查看更多高清行情>> 今日周二（7月22日)亚盘时段，黄金期货目前交投于787.78附近，截至发稿，黄金期货暂报785.48元/ 克，上涨0.72%，最高触及787.80元/克，最低下探784.20元/克。目前来看，黄金期货短线偏向震荡走 势。 【最新黄金期货行情解析】 【要闻速递】 今日沪金期货需重点关注的关键阻力位区间为788元/克至814元/克，而重要支撑位区间则位于771元/克 至811元/克。 跨国汽车制造商斯泰兰蒂斯集团表示，受到美国政府加征关税等因素影响，该集团在今年上半年面临23 亿欧元（约合193亿元人民币）亏损。斯泰兰蒂斯集团拥有菲亚特、标致、克莱斯勒和吉普等汽车品 牌。该集团表示，旗下汽车品牌在北美市场的销量持续下滑，其中今年第二季度销量同比下降25%。对 此，斯泰兰蒂斯集团表示，美关税政策是北美市场销量大幅下降的主要因素。美国政府于今年4月3日宣 布对进口汽车加征25%关税，斯泰兰蒂斯集团同一天宣布暂停在墨西哥和加拿大一些装配工厂的生产， 同时在美国密歇根州和印第安纳州暂时解雇900名工人。 据报道，墨西哥总统辛鲍姆21日在例行晨间记者会上，就美国交通部最新制裁作出强硬回应 ...

近期，据证券时报消息，美国在国际舞台上动作频频，为了达成自身目的使出不少手段。可从当前局势 来看，这些招数效果不佳。美国对中国的关税施压已经持续了一段时间。据海关总署副署长王令浚通 报，受美国所谓"对等关税"影响，中美贸易第二季度同比下降20.8%，上半年我国对美国进出口总值 2.08万亿元，同比下降9.3%，出口和进口也分别有不同程度下降。 不过6月份中美贸易有所回升，进出口值从5月份不到3000亿元回升到超过3500亿元，同比降幅明显收 窄。这说明中美经贸合作的韧性还在，互利共赢的本质没有变。可美国似乎没意识到这一点，还在继续 搞关税这套。特朗普给不少国家送上"关税函"，对欧盟、墨西哥追加30%关税，对加拿大扬言加征至 35%，这种做法不仅没给美国带来好处，反而让美国的市场和信任受损。《华盛顿邮报》就刊文称，贸 易壁垒这条路会导致美国真正衰落。 特朗普（资料图） 在挑拨中国与其他国家关系上，美国也没闲着。美国国务院官员米尼翁接受日本媒体采访时，提醒东盟 国家不要依赖中国，还称美国最终会跟各国保持公平的贸易。可实际情况是，特朗普对东盟下了重手， 泰国、柬埔寨被征36%的关税，缅甸高达40%，菲律宾也被征20 ...

特朗普（资料图） 特朗普口中的"欺诈"，指向的是美联储总部建筑翻新项目。本月2日，特朗普政府翻出旧账，以"存在政 治立场偏差""在国会作虚假陈述"为由，要求国会调查鲍威尔，还说他在接受质询时隐瞒事实、态度消 极，该"免职追责"。据《华尔街日报》报道，这个翻新项目2017年获批，2022年启动最新工程，到2023 年预算从19亿美元涨到了近25亿美元。不过路透社说，目前没证据显示鲍威尔涉嫌欺诈，美联储也否认 了豪华装修的指控。 而且美国联邦最高法院5月22日有过相关裁决，美联储官员不能因为政策分歧被解雇，只有渎职或玩忽 职守等情况才能被解职。这已经不是特朗普第一次因为鲍威尔引发市场动荡了。几个月来，他一直要求 美联储降息，说美国政府为债务支付的利息太高。4月21日，他再度施压降息，当天美国就遭遇了股汇 债"三杀"。第二天他改口说"无意"解除鲍威尔职务，市场情绪才稍微缓和。特朗普觉得当前4.3%左右的 基准利率太高，应该降到3%以下。 特朗普（资料图） 可鲍威尔多次表示，货币政策调整还得观望，要先判断关税对通胀和经济走势的影响。美国政府15日公 布，6月消费者价格指数同比涨幅是2月以来最大的。《纽约时报》认为，这 ...

Core Insights - The report highlights the evolving dynamics of the U.S. economy, particularly the impact of tariffs on inflation, with June CPI data reflecting these influences. The overall market expectations for the Federal Reserve's policy path remain stable, with anticipated rate cuts in September and December [6][7]. Market Trends - Domestic market indices showed positive performance, with the Shanghai Composite Index closing at 3,559.79, up 0.72%, and the Shenzhen Component Index at 11,007.49, up 0.86% [4]. - In the U.S. market, major indices exhibited mixed results, with the Dow Jones slightly down by 0.07%, while the Nasdaq rose by 1.51% and the S&P 500 increased by 0.59% [6]. Macroeconomic Analysis - The report notes a decline in initial jobless claims to 221,000, continuing a five-week downward trend. The June CPI showed a year-on-year increase of 2.67%, up from 2.38%, indicating a rebound influenced by tariffs, particularly in used car prices and imported goods [6][7]. - The analysis suggests limited further increases in tariffs due to insufficient economic fundamentals to absorb negative impacts, with expectations that the inflationary effects of tariffs will diminish by the third quarter [6]. Currency and Credit Dynamics - The report discusses the historical evolution of the U.S. dollar's credit anchor, transitioning from the gold standard to a debt-driven economy, highlighting the challenges faced by the dollar in maintaining its value amidst increasing debt and geopolitical uncertainties [9][10]. - Short-term outlook for the dollar indicates a weak and volatile trend, with potential for structural depreciation in the medium term due to diverging monetary policies and fiscal sustainability concerns [9][10]. Investment Recommendations - Emerging market equities and bonds are becoming increasingly attractive, with expectations of foreign capital inflows boosting stock prices, particularly in domestic demand-driven sectors. Bonds are expected to benefit from a rebalancing of dollar assets [10]. - The report emphasizes the continued importance of gold as an investment, recommending accumulation during price corrections, supported by factors such as a weak dollar and central bank demand for diversification [10].

随着美国总统特朗普的关税政策推进，一个关键问题浮现：究竟是谁在这些关税买单？ 据追风交易台消息，德意志银行最新研报显示，特朗普政府征收的关税主要由美国人承担，而非海外出口商。该行分析了第二季度美国制造业商品进口价 格变化后发现，尽管关税收入今年已超过1000亿美元，但外国出口商并未通过大幅降价来吸收关税成本。 分析师George Saravelos指出，如果外国出口商承担关税成本，理论上市场应该看到进口商品价格大幅下降。但分析结果表明，美国的贸易伙伴中，除加 拿大出现温和价格下调、英国出现较小幅度下调外，其他地区出口商支付的关税费用微乎其微。最令人意外的是，中国出口商基本未通过降价来抵消关税 影响。 如果是外国人在支付关税，我们预期会看到进口商品价格大幅下降，因为他们将其成本吸收进了自身的利润空间。确实，我们看到了一些温和 的价格下降，在加拿大最为明显，英国次之。但最令人惊讶的是，除此之外，其他地方的出口商似乎支付得极少。 鉴于美国消费者价格指数涨幅迄今保持克制，德银得出结论：美国进口商主要通过压缩自身利润率来吸收关税成本。这一现状不仅为美国贸易伙伴在8月1 日新期限前提供了更多谈判筹码，也预示着未来美国消费 ...

短期将关注3500美元而下的回落趋势线压力约3417，以及之前遇阻回落的阻力位3450美元附近的压制情况。 张尧浠：关税谈判陷入停滞、金价获力走强关注目标阻力 上交易日周一(7月21日)：国际黄金强势反弹拉升，创下五周新高，打破上周的震荡格局，持稳于中轨及众多均线上方，布林带也开口向上扩散，多头动 力增强； 影响上，由于陷入停滞的美国贸易谈判，鲍威尔受到特朗普盟友的刑事指控，加大了其被罢免的担忧。美元指数及美债收益率走低，增强了金价的吸引 力。 具体走势上，金价自亚市开于3349.33美元/盎司，先行走弱，如期触及看涨支撑位，并录得日内低点3344.83美元，之后止跌反弹，日内震荡上行，阶梯式 走强，并在欧盘尾及美盘上半段多头力量明显加强，开始连续拉升，于23点时段录得日内高点3401.51美元，并就此有所遇阻回撤，陷入震荡调整，最终 收于3396.65美元，日振幅56.68美元，收涨47.32美元，涨幅1.41%。 展望今日周二(7月22日)：国际黄金开盘受到3400关口附近的阻力压力而先行表现走弱，但下方有众多均线支撑，美元指数短期走势偏弱，而会限制金价 回落力度，并使得金价在触及支撑位置，仍可再度看涨反 ...

当地时间21日，跨国汽车制造商斯泰兰蒂斯集团表示，受到美国政府加征关税等因素影响，该集团在今 年上半年面临23亿欧元(约合193亿元人民币)亏损。斯泰兰蒂斯集团拥有菲亚特、标致、克莱斯勒和吉 普等汽车品牌。该集团表示，旗下汽车品牌在北美市场的销量持续下滑，其中今年第二季度销量同比下 降25%。对此，斯泰兰蒂斯集团表示，美关税政策是北美市场销量大幅下降的主要因素。(央视新闻) ...

Group 1 - The article highlights that most commodities have risen, emphasizing the importance of policy determination [1] - The U.S. 10-year Treasury yield has fallen below the 200-day moving average, currently at 4.35%, marking a decline for the fourth consecutive trading day [1] - The Zhengzhou Commodity Exchange has announced the listing of propylene futures contracts with a benchmark price of 6350 CNY per ton [1] Group 2 - U.S. stock indices have primarily risen, with the construction materials sector leading gains while the banking sector lagged [2] - The market's trading volume reached 1.73 trillion CNY, with a decrease in financing balance by 1.99 billion CNY to 1.889167 trillion CNY [2] - The A-share market is considered to have high investment value, particularly the CSI 500 and CSI 1000, which are supported by technology policies [2] Group 3 - The average daily pig iron output has increased by 26,300 tons week-on-week, marking the largest weekly increase in recent weeks [3] - Coking coal inventory at steel and coking plants has risen to 17.2 million tons, marking a four-week consecutive increase [3] - The market anticipates further policy support, with potential supply constraints due to enhanced safety and environmental regulations ahead of the September 3 military parade [3] Group 4 - Gold and silver have strengthened due to rising market risk aversion ahead of new tariff deadlines, alongside a weakening dollar and U.S. Treasury yields [4] - Recent economic data suggests that the impact of tariff policies may be less severe than previously feared, but caution is advised regarding potential future tariff threats [4] - The long-term support for gold remains strong due to continued purchases by the People's Bank of China [4] Group 5 - Fitch Ratings has downgraded the outlook for 25% of U.S. industries to "negative" due to increased uncertainty and expected prolonged high interest rates [5] - China's LPR remained unchanged for the second consecutive month, with the one-year rate at 3.0% and the five-year rate at 3.5% [6] - The National Energy Administration reported a 5.4% year-on-year increase in electricity consumption in June, with a cumulative increase of 3.7% for the first half of the year [7]

Core Viewpoint - The traditional peak season for shipping has arrived in Q3, but shipping prices between China and the U.S. have plummeted, leading to low export willingness among traders [1][4]. Group 1: Shipping Price Trends - As of mid-July, shipping prices for the East U.S. route have dropped to $3,300-$3,800 per FEU, while the West U.S. route is at $1,700-$1,800 per FEU, marking a 70% drop for the West route and approximately 50% for the East route compared to early June [1][7]. - The Shanghai Export Container Freight Index (SCFI) has seen a continuous decline for six weeks, prompting shipping companies to reduce capacity and services from Asia to the U.S. [3]. Group 2: Market Dynamics - The expected peak season for U.S. exports is not materializing as anticipated, with low inquiry volumes and subdued business activity in July and August [3][4]. - Factors contributing to the low export volume include earlier shipping surges in May and June, influenced by external conditions and tariff policies [3][4]. Group 3: Tariff Impact - U.S. export fluctuations are closely tied to tariff policies, with significant impacts observed in the first quarter due to urgent shipments in response to tariff risks [4][5]. - The U.S. retail market is experiencing reduced consumer capacity, with inflationary pressures from rising import prices due to tariffs [5]. Group 4: Shipping Company Adjustments - Shipping companies are adjusting their routes in response to falling prices, with MSC and Zhonglian Shipping being proactive in suspending services and reallocating capacity [8]. - The current pricing environment is pushing some smaller non-alliance vessels into losses, leading to potential withdrawals from the market [8]. Group 5: Future Outlook - The outlook for shipping prices remains pessimistic unless significant economic stimuli occur, with potential for further capacity adjustments among shipping companies [9].

Group 1 - The U.S. Department of Commerce imposed tariffs on Chinese graphite, which is critical for the U.S. electric vehicle industry, as China accounts for 70% of global production and exports to the U.S. were valued at $1.5 billion in 2025 [1] - The tariffs are expected to increase battery costs by $7 per kilowatt-hour, leading to a 20% reduction in subsidies from the Inflation Reduction Act [1] - U.S. domestic graphite producers are unable to meet the demand, with their annual production being less than a fraction of China's daily output [3][5] Group 2 - The tariffs have caused a surge in Canadian graphite mining stocks by 51%, while U.S. electric vehicle manufacturers like Tesla saw their stock prices decline [1] - The U.S. is facing backlash from allies like the EU and Mexico, with Mexico retaliating by imposing tariffs on U.S. corn [3] - The pharmaceutical industry is also affected, with potential 200% tariffs on imported drugs leading to increased prices for American consumers [3] Group 3 - China's strategy includes zero tariffs for 53 African countries, enhancing trade relations and allowing African nations to develop infrastructure using funds from exports to China [7][9] - The Chinese graphite industry has advanced technologies that reduce costs by 40% compared to U.S. methods, attracting orders from Europe and Southeast Asia [8] - The U.S. tariffs are seen as a self-defeating strategy that may harm American consumers and businesses while benefiting other countries [9]