Group 1 - The article discusses the recent announcement by President Trump regarding new tariffs on various imported products, including a 50% tariff on kitchen cabinets and a 30% tariff on imported furniture, effective from October 1 [2][3] - The potential impact of these tariffs on Southeast Asia and China's sanitary ceramics, finished furniture, and kitchen cabinet industries is highlighted, with expectations that U.S. consumers will bear most of the cost [3] - Historical data shows that China's finished furniture exports to the U.S. experienced a decline of 7% and 9% in April and May due to tariff factors, but rebounded with a 1.25% increase in June as tensions eased [3] Group 2 - Despite the high tariffs, Chinese sanitary products may still be priced lower than U.S. manufactured goods, as illustrated by a case where a Chinese showerhead priced at $129 would cost $239 if manufactured in the U.S. [4] - In 2024, China's sanitary ceramics exports are projected to reach 110 million units, with a total export value of $15.64 billion, making the U.S. the largest export destination [4] - The U.S. is the largest furniture import market globally, with an import value of $27.14 billion for the 2023-2024 fiscal year, heavily reliant on imports from Vietnam and China [5]

Group 1 - The trade war initiated by the Trump administration is expected to drag down global economic growth due to tariff-related uncertainties, with full effects anticipated to manifest by 2026 [1][2] - The OECD's latest economic outlook report indicates that the impact of U.S. tariffs is beginning to show, with signs of reduced consumer spending in the U.S. and affected labor markets in countries facing tariff pressures [1][2] - Global economic growth is projected to be 3.2% in 2025, an increase of 0.3 percentage points from previous forecasts, driven by increased manufacturing activity as trade partners rush to import goods before tariffs take effect [1] Group 2 - The OECD predicts that global economic growth will further slow to 2.9% by 2026 as the full impact of tariffs affects supply chains, labor markets, and consumer behavior [2] - The U.S. economy is expected to feel the effects of tariffs starting in 2026, with growth rates projected to decline from 2.8% in 2024 to 1.8% in 2025 and further to 1.5% in 2026 [2] - The OECD emphasizes the need for effective international cooperation to resolve trade tensions and enhance economic growth potential [3]

Core Viewpoint - The cryptocurrency market experienced a significant drop, with major cryptocurrencies like BTC, ETH, and DOGE seeing notable declines, leading to over 400,000 liquidations in a short period [2][7]. Market Performance - Major cryptocurrencies' prices and their 24-hour percentage changes are as follows: - Bitcoin (BTC): $113,023.9, -2.32% - Ethereum (ETH): $4,171.16, -6.92% - Solana (SOL): $224.12, -6.82% - XRP: $2.802, -6.78% - Dogecoin (DOGE): $0.23998, -10.68% [3][4]. Liquidation Data - In the past 24 hours, a total of 406,200 liquidations occurred, amounting to $1.678 billion. Long positions accounted for $1.595 billion, while short positions totaled $83.435 million [7][8]. - The liquidation heatmap indicates that the majority of liquidated accounts were related to ETH and BTC, with liquidations of $477 million and $282 million, respectively [8][9]. External Influences - Recent geopolitical developments, including EU sanctions targeting Russian financial activities through cryptocurrencies, have contributed to selling pressure in the market. The EU's measures include sanctions on cryptocurrency platforms and related transactions [10]. - Bitcoin is facing significant selling pressure, with a critical support level at $111,900, which has been tested multiple times without breaking. This level has previously attracted buyers, leading to price rebounds [10]. - Concurrently, gold prices reached a new high, with London gold surpassing $3,715 per ounce, indicating a shift in investor preference towards safer assets amid market volatility [10][11].

Group 1 - The European Central Bank (ECB) does not need to further lower interest rates to achieve stable inflation levels, according to Christodoulos Patsalides, a member of the ECB Governing Council [1] - The ECB is currently in a favorable position, with inflation risks balanced, and the next adjustment of the benchmark interest rate is more likely to be an increase [1][3] - The ECB has maintained the deposit rate at 2% for two consecutive meetings, and there is a general consensus among investors and analysts that no further rate cuts will occur following eight reductions since June 2024 [1][3] Group 2 - The Eurozone economy faces risks from U.S. trade policies established during the Trump administration, which could lead to further measures from the U.S. in response to EU actions against Google [2] - Trade tensions create dual risks for inflation: demand suppression due to risk aversion could lower inflation, while supply chain disruptions could push prices up [2] - Patsalides believes that inflation risks are balanced, with the ECB's forecast indicating a consumer price index (CPI) increase of 1.7% next year and a slight decrease in inflation expectations for 2027 compared to previous forecasts [3][6] Group 3 - The ECB's forecast suggests that inflation will temporarily deviate from the 2% target in 2026 but is expected to rebound to 1.9% by 2027, indicating no long-term concerns about inflation falling below target levels [6] - Patsalides attributes the adjustments in forecast values to technical assumptions like exchange rates rather than fundamental changes, advocating for a stable policy approach without immediate action [7]

Core Insights - Moody's report on global macro outlook for 2025-26 indicates a loss of momentum in global economic growth, with emerging and frontier markets, particularly in East Africa, facing increased risks from uncertainty and policy changes [1] Economic Growth - The report forecasts a slowdown in global economic growth for this year and next as economies adapt to significant shifts in trade, fiscal, monetary, and immigration policies [1] Trade and Investment - Ongoing instability in the global trade system and adjustments in monetary policy may exert pressure on investment, exports, and employment in developing economies [1] - Heightened trade tensions, policy uncertainty, and a slowdown in global economic growth could hinder foreign direct investment into developing economies, especially in East Africa, limiting capital inflows for infrastructure, innovation, and job creation [1]

Group 1: Forex Market Overview - The forex market is experiencing unpredictable volatility, with traders closely monitoring ongoing debates about the independence of the Federal Reserve and speculation about potential interest rate cuts by the Fed before the end of the year [1] - Speculators have increased their net short positions in the US dollar (USD) to approximately 61,000 contracts, marking a two-week high, while open interest has risen to nearly 315,000 contracts, the highest in four weeks [1] Group 2: Euro and Yen Positions - Speculative net long positions in the euro (EUR) have risen to a four-week high, slightly above 123,000 contracts, while non-commercial traders have increased their bearish positions, bringing their short positions close to 173,200 contracts [4] - Non-commercial traders have increased their net long positions in the Japanese yen (JPY) to nearly 84,500 contracts, the highest in four weeks, while institutional net short positions have climbed to approximately 90,100 contracts, the highest since late July [4] Group 3: British Pound and Australian Dollar - Speculators have increased their net short positions in the British pound (GBP) to a two-week high of about 31,300 contracts, with open interest rising for the third consecutive week to nearly 220,000 contracts, the first increase since early June [4] - The net short positions in the Australian dollar (AUD) have risen to the lowest level since April 2024, approximately 100,600 contracts, with open interest increasing for the fourth consecutive week to nearly 191,200 contracts [5] Group 4: Gold Market - Non-commercial net long positions in gold have rebounded to a two-week high of approximately 214,300 contracts, with open interest also showing a significant rebound, reaching about 443,800 contracts [5] - Gold prices are regaining strong upward momentum, challenging the $3,400 per ounce mark in the coming weeks [5]

Core Viewpoint - Gold futures experienced a slight increase, reversing earlier losses, driven by concerns over the independence of the Federal Reserve following President Trump's attempt to dismiss a Fed governor [1] Group 1: Market Reactions - Gold futures for August delivery rose by 0.5%, closing at $3,404.60 per ounce, marking the highest closing price since August 8 [2] - Silver futures for August delivery increased by 0.3%, closing at $38.689 per ounce [2] Group 2: Influencing Factors - Two main factors driving the recent rise in gold prices include signals from Fed Chair Jerome Powell regarding a potential rate cut in September and Trump's actions raising concerns about the Fed's independence [1] - Ongoing geopolitical risks, such as increased attacks on Russian energy infrastructure by Ukraine, and unresolved trade tensions are expected to maintain a solid risk premium in gold prices [1] Group 3: Investment Products - Related exchange-traded funds (ETFs) include SPDR Gold ETF (GLD.US), VanEck Gold Miners ETF (GDX.US), VanEck Junior Gold Miners ETF (GDXJ), iShares Silver ETF (SLV), and GlobalX Silver Miners ETF (SIVR) [2]

Core Viewpoint - The strong rebound in dollar demand has suppressed the buying power of the euro against the dollar, leading to a reversal of most gains made after Powell's speech last Friday, where the EUR/USD pair had briefly surpassed the 1.1700 mark [1][6]. Technical Analysis - The initial resistance for the EUR/USD is at the July 24 high of 1.1788, with further resistance at the year-to-date high of 1.1830 reached on July 1. A breakthrough of 1.1830 could lead to testing the September 3, 2021 high of 1.1909, which is close to the 1.2000 level [3]. - Temporary support is located at the 100-day simple moving average (SMA) at 1.1488, followed by the August 1 low of 1.1391 and the May 29 low of 1.1210 [3]. - Momentum indicators show a lack of clear direction, with the Relative Strength Index (RSI) dropping to around 51, suggesting limited upside potential, while the Average Directional Index (ADX) is below 11, indicating a sideways trend [3]. Market Outlook - The EUR/USD is expected to maintain a range-bound trading pattern in the short term, with the dollar likely to dominate the overall trend until a shift in the Federal Reserve's policy stance or new trade-related developments occur [4][5]. Economic Indicators - Recent economic data includes a decline in durable goods orders by 4.0%, with non-defense capital goods orders excluding aircraft rising by 0.3%. Consumer confidence in the Eurozone was reported at 87, below the consensus of 90 [6]. Trade Relations - The trade tensions have eased with the U.S. and China extending the tariff truce for 90 days, delaying new tariff measures. Current tariffs remain high, with the U.S. imposing a 30% tariff on Chinese imports and China imposing a 10% tariff on U.S. goods [7]. Central Bank Perspectives - The Federal Reserve maintained interest rates, with Powell's balanced remarks contrasting with the dovish stance of other board members. Upcoming economic data, particularly the non-farm payroll report and inflation data, are critical for future policy decisions [8]. - The European Central Bank (ECB) President Lagarde stated that the Eurozone economy is "robust, even slightly better than expected," but markets do not anticipate rate cuts until spring 2026 [9]. Speculative Sentiment - Speculative long positions in the euro have increased to nearly 118,700 contracts, a three-week high, while institutional investors have reduced short positions to about 166,400 contracts, a two-week low. Open interest has risen for the second consecutive week, reaching approximately 825,200 contracts [10].

Group 1 - The Indian Rupee (INR) has weakened against the US Dollar (USD), reaching around 87.60, despite a general dollar sell-off following dovish signals from the Federal Reserve Chairman Jerome Powell [2][3] - Powell indicated that the current economic conditions may warrant adjustments to monetary policy, citing increasing downside risks in the labor market [2][3] - The ongoing trade tensions between the US and India are negatively impacting the performance of the Indian Rupee, preventing it from capitalizing on the dollar's weakness [2][3] Group 2 - The US is expected to increase tariffs on Indian goods to 50%, the highest rate among all trade partners, which could reduce the competitiveness of Indian products in global markets [4] - The Indian government is implementing tax cuts to mitigate the impact of global trade risks and boost domestic consumption, with new Goods and Services Tax (GST) reforms anticipated before the Diwali festival [4] - Foreign Institutional Investors (FIIs) have been withdrawing from the Indian stock market, with a total divestment of ₹257.51 billion in August, contributing to the pressure on the Indian Rupee [4] Group 3 - The Indian stock market initially rose due to the dovish stance of the Federal Reserve, but the Nifty50 index is struggling to maintain a critical support level of 24,900 points [4] - The upcoming release of the second-quarter GDP data is expected to be a key catalyst for the Indian Rupee's performance, with the first quarter showing an annualized growth rate of 7.4% [4] Group 4 - Technical analysis indicates that the USD/INR pair remains above the 20-day Exponential Moving Average (EMA) at approximately 87.35, suggesting a bullish short-term trend [5] - The Relative Strength Index (RSI) has rebounded from the 50.00 level, and a breakthrough above 60.00 could generate new bullish momentum [6] - Key support for the currency pair is at the July 28 low of 86.55, while resistance is noted at the August 5 high of 88.25 [6]

Group 1 - The company reported a revenue of HKD 186 million for the six months ending June 30, 2025, representing a year-on-year decrease of 58.33% [1] - The loss attributable to the company's owners was HKD 25.61 million, compared to a profit of HKD 91.458 million in the same period last year [1] - The loss per share was HKD 0.0217, and the company proposed an interim dividend of HKD 0.01 per share [1] Group 2 - The decline in revenue was attributed to several factors, including the inability to benefit from the release of the movie "Godzilla x Kong: New Empire" in March 2024, leading to a decrease in product shipments related to "Godzilla x Kong" [1] - The "Teenage Mutant Ninja Turtles" brand did not have any major entertainment events to drive demand, resulting in a slowdown in the product series [1] - Increased trade tensions have hindered shipments of goods to the U.S. market in April [1]