瑞士7月CPI环比 0%，前值 0.2%。 ...

智通财经8月4日电，瑞士7月CPI同比增长0.2%，预期0.10%；7月CPI环比持平，预期下降0.2%。 ...

Economic Growth Indicators - The Guosen High-Frequency Macro Diffusion Index A turned negative this week, while Index B showed seasonal decline, indicating a stable economic growth momentum[1] - Real estate sector performance improved, while investment and consumption sectors showed a decline, with the real estate sector performing relatively better[1] - The standardized Index B decreased by 0.14, remaining close to historical average levels, suggesting steady domestic economic growth[1] Asset Price Predictions - Current domestic interest rates are low, while the Shanghai Composite Index is high, indicating a potential downward adjustment in the index next week[1] - The predicted ten-year government bond yield for the week of August 8, 2025, is expected to rise, while the Shanghai Composite Index is anticipated to decline[1] - The predicted ten-year government bond yield is 2.34%, compared to the actual value of 1.72%, indicating a significant deviation[19] Price Tracking - Food prices increased by approximately 0.5% month-on-month in July, while non-food prices decreased by about 0.5%, leading to an overall CPI increase of around 0.5%[2] - The Producer Price Index (PPI) is expected to show a month-on-month increase of about 0.1% in July, with a year-on-year recovery to -3.3%[2]

Group 1 - July CPI and PPI data will be released on August 9, with expectations of a 0% month-on-month change and a year-on-year decrease of approximately -0.5% for CPI, while PPI is expected to show a rebound both year-on-year and month-on-month [2] - New interest tax policy for government bonds, local government bonds, and financial bonds will take effect from August 8, 2025, reinstating VAT on interest income from newly issued bonds [3] - The Hong Kong Stock Exchange will implement a reduction in the minimum price fluctuation for stocks starting August 4, which aims to lower trading costs and enhance trading efficiency [4] Group 2 - The 2025 World Robot Conference will be held from August 8 to 12 in Beijing, focusing on themes of intelligence in robotics and featuring various events including forums and competitions [5] - A total of 32 companies will have their restricted shares unlocked from August 4 to August 8, with a total of 3.363 billion shares worth approximately 93.445 billion yuan being released [7] - The peak unlocking date is August 8, with three companies releasing shares worth a total of 54.464 billion yuan, accounting for 58.28% of the total unlocking scale for the week [7]

Anyone with half a brain knew the BLS data was wrong for years.Bitcoiners have been calling attention to how inaccurate the CPI metric has been.Gold is outperforming the stock market in the last decade and you think inflation was only 2% per year?! ...

智通财经8月1日电，欧元区7月CPI同比增长2%，预期1.9%，前值2%。 ...

欧元区7月CPI年率初值及月率初值将于十分钟后公布。 ...

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Viewpoints - For gold, on August 1st, with the approaching tariff deadline and a concentration of important events and data, the slight increase in risk aversion sentiment provides some support, leading to a small rebound in gold prices. However, since the agreements among major trading economies are mostly settled, the impetus from risk aversion is limited, and there is still downward pressure on gold prices [4]. - For silver, affected by the sharp decline in New York copper and the downturn in domestic commodities, risk appetite has decreased, causing silver prices to drop significantly. Although there is some support, with the approaching tariff deadline and the release of US non - farm data, and the agreements among major trading economies mostly settled, the downward pressure on silver prices remains [5]. 3. Summary by Directory 3.1 Previous Day Review - **Gold**: The US three major stock indexes and European major stock indexes all closed down. The 10 - year US Treasury yield fell 0.20 basis points to 4.366%. The US dollar index dropped 0.02% to 100.04. The offshore RMB depreciated slightly against the US dollar. COMEX gold futures fell 0.31% to $3342.30 per ounce [4]. - **Silver**: Commodities mostly turned down, and silver prices dropped significantly. The same situation as gold occurred in the stock market, US Treasury yields, and the US dollar index. COMEX silver futures fell 2.51% to $36.79 per ounce [5]. 3.2 Daily Tips - **Gold**: The basis is - 3.75, with the spot at a discount to the futures. Gold futures warehouse receipts increased by 2199 kilograms to 35643 kilograms. The 20 - day moving average is downward, and the K - line is below it. The main net position is long, but the main long positions are decreasing [4]. - **Silver**: The basis is - 29, with the spot at a discount to the futures. Shanghai silver futures warehouse receipts decreased by 61 kilograms to 1208033 kilograms. The 20 - day moving average is upward, and the K - line is below it. The main net position is long, but the main long positions are decreasing [5]. 3.3 Today's Focus - 07:30 Japan's June unemployment rate; 08:00 South Korea's July exports and imports; 08:30 Vietnam, South Korea, and Japan's July manufacturing PMI; TBD Hong Kong's "Stablecoin Ordinance" implementation; 09:45 China's July RatingDog China PMI; TBD Trump's so - called "reciprocal tariff" and 50% import copper tariff effective date; 13:00 India's July manufacturing PMI final value; 15:50 France's July manufacturing PMI final value; 15:55 Germany's July manufacturing PMI final value; 16:00 Eurozone's July manufacturing PMI final value; 16:30 UK's July manufacturing PMI final value; 17:00 Eurozone's July CPI preliminary value; 20:30 US July non - farm payroll report; 21:45 US July Markit manufacturing PMI final value; 22:00 US July ISM manufacturing index, July University of Michigan consumer confidence index final value, June construction spending; Sunday OPEC + holds a separate meeting to decide on production policy [14]. 3.4 Fundamental Data - **Gold**: The fundamental situation is neutral. The basis shows a neutral signal. The increase in warehouse receipts is a bearish factor, and the position of the K - line relative to the moving average is also bearish. However, the main long - position situation is bullish [4]. - **Silver**: The fundamental situation is neutral. The basis is neutral. The change in warehouse receipts is neutral, and the position of the K - line relative to the moving average is neutral. The main long - position situation is bullish [5]. 3.5 Position Data - **Gold**: The main net position is long, but the main long positions are decreasing [4]. - **Silver**: The main net position is long, but the main long positions are decreasing [5].

Group 1 - Key Point 1: Japan's unemployment rate for June will be released at 07:30 [1] - Key Point 2: China's July S&P Global Manufacturing PMI will be announced at 09:45 [1] - Key Point 3: The National Development and Reform Commission will hold a press conference at 10:00 [1] Group 2 - Key Point 1: The UK Nationwide House Price Index for July will be published at 14:00 [1] - Key Point 2: France's July Manufacturing PMI final value will be available at 15:50 [1] - Key Point 3: Germany's July Manufacturing PMI final value will be released at 15:55 [1] - Key Point 4: Eurozone's July Manufacturing PMI final value will be announced at 16:00 [1] - Key Point 5: The UK's July Manufacturing PMI final value will be published at 16:30 [1] Group 3 - Key Point 1: Eurozone's July CPI year-on-year preliminary value will be released at 17:00 [1] - Key Point 2: Eurozone's July CPI month-on-month preliminary value will be available at 17:00 [1] Group 4 - Key Point 1: The US unemployment rate for July will be announced at 20:30 [1] - Key Point 2: The US seasonally adjusted non-farm payrolls for July will be released at 20:30 [1] - Key Point 3: The US average hourly earnings year-on-year for July will be published at 20:30 [1] - Key Point 4: The US average hourly earnings month-on-month for July will be available at 20:30 [1] - Key Point 5: The US July S&P Global Manufacturing PMI final value will be announced at 21:45 [1] - Key Point 6: The US July ISM Manufacturing PMI will be released at 22:00 [1] - Key Point 7: The US July University of Michigan Consumer Sentiment Index final value will be available at 22:00 [1] - Key Point 8: The US one-year inflation expectations final value for July will be published at 22:00 [1] - Key Point 9: The US June construction spending month-on-month will be released at 22:00 [1] Group 5 - Key Point 1: The total number of oil rigs in the US for the week ending August 1 will be announced at 01:00 the next day [1]

南非央行声明：根据模型，2025年CPI预计为3.3%，2026年预计为3.3%。 ...