德国5月服务业PMI初值 47.2，预期49.5，前值49。 ...

金十数据5月22日讯，德国5月商业活动下滑，为今年首次萎缩，因服务业的急剧下滑盖过了制造业温和 增长的影响。德国5月综合PMI初值从50.1降至48.6，低于荣枯分水岭50.0。服务业PMI从4月份的49.0降 至47.2，创30个月新低。报告称，这种下降是由需求疲软和客户不确定性驱动的，这是自2024年9月以 来的最大降幅。制造业PMI从4月份的48.4升至48.8。汉堡商业银行首席经济学家赛勒斯•德拉鲁比亚表 示："展望未来，国防支出的增加和更明确的基础设施一揽子计划可能会给该行业带来额外的推动力。 此外，在能源价格下降的推动下，投入成本不断下降，应该会给制造商带来一些喘息的空间。" 德国5月商业活动下滑，为今年首次萎缩 ...

法国5月服务业PMI初值 47.4，预期47.5，前值47.3。 ...

日本5月服务业PMI初值 50.8，前值52.4。 ...

① 15:00 国新办就科技金融政策有关情况举行新闻发布会 ② 15:15 法国5月制造业PMI初值 ③ 15:30 德国5月制造业PMI初值 ④ 16:00 欧元区5月制造业PMI初值 ⑤ 16:30 英国5月制造业PMI初值，英国5月服务业PMI初值 ⑥ 16:00 德国5月IFO商业景气指数 ⑦ 19:30 欧洲央行公布4月货币政策会议纪要 ⑧ 20:30 美国至5月17日当周初请失业金人数 ⑨ 21:45 美国5月标普全球制造业PMI初值 ⑩ 22:00 美国4月成屋销售总数年化 ⑪ 22:30 美国至5月16日当周EIA天然气库存 周四（5月22日）重点关注财经事件和经济数据 ...

Group 1 - The article highlights key financial data and events to be monitored on May 22, 2025, including various PMI indices and economic indicators from multiple countries [1] - Notable events include the invitation from President Trump to "Trump coin" holders for a dinner, indicating potential political and economic implications [1] - The article lists specific times for the release of important economic data, such as China's SWIFT RMB payment share and the U.S. initial jobless claims [1] Group 2 - The article outlines the scheduled release of manufacturing PMI initial values for France, Germany, the Eurozone, and the UK, which are critical indicators of economic health [1] - The European Central Bank's publication of the April monetary policy meeting minutes is also noted, which may provide insights into future monetary policy directions [1] - The article concludes with the mention of a speech by Federal Reserve's Williams, which could influence market expectations regarding U.S. monetary policy [1]

期货研究报告|外汇专题报告 2025-05-21 结售汇双边放量，汇率区间波动 研究院 研究员 蔡劭立 FICC 组 caishaoli@htfc.com 从业资格号：F3063489 投资咨询号：Z0014617 高聪 外汇市场供需结构延续，结售汇逆差小幅扩大。2025 年 4 月银行结售汇逆差为 42.57 亿美元，较前值-19.67 亿美元小幅扩大，整体仍处于温和区间。结汇与售汇规模均有 所上升，反映企业外汇交易活跃度提升。结构上看，银行代客结售汇顺差由 0.96 亿美 元扩大至 58.93 亿美元，反映企业部门结汇意愿增强、购汇需求有所回落；而银行自 身结售汇逆差由-20.63 亿美元扩大至-101.50 亿美元，或与远期履约及头寸管理需求有 关。同期美元兑人民币即期汇率环比上涨 0.34%，市场成交活跃度略有下降，即期询价 成交均值回落至 422.34 亿美元，显示部分观望情绪仍存。 021-60828524 gaocong@htfc.com 从业资格号：F3063338 投资咨询号：Z0016648 联系人 朱思谋 0755-23887993 zhusimou@htfc.com 从业资格号：F03 ...

Group 1: Report Information - Report date: May 07, 2025 [2] - Research team: Energy and Chemical Research Team [3] - Researchers: Li Jie, CFA (Crude Oil and Fuel Oil); Ren Junchi (PTA/MEG); Peng Haozhou (Industrial Silicon/Polycrystalline Silicon); Peng Jinglin (Polyolefins); Liu Youran (Pulp) [3] Group 2: Market Performance and Outlook Market Performance - Industrial silicon futures: The main contract Si2506 closed at 8,325 yuan/ton, down 2.57%. Trading volume was 269,472 lots, and open interest was 179,536 lots, a net increase of 13,001 lots [4] - Spot prices: Sichuan 553 grade was 9,100 yuan/ton, Yunnan 553 grade was 9,150 yuan/ton; Sichuan 421 was 10,350 yuan/ton, Yunnan 421 was 9,600 yuan/ton, Inner Mongolia 421 was 9,600 yuan/ton, and Xinjiang 421 was 9,800 yuan/ton [4] Outlook - Spot prices are still falling rapidly, and there are no significant signs of improvement in the fundamentals. Weekly production is 73,100 tons, and there is no expectation of production cuts in May. Demand from polysilicon is 108,000 tons, and silicone enterprises are cutting production to support prices. Other demand is stable, and the oversupply situation persists. Inventories are increasing. The loss has not had a significant negative impact on the supply side, and the fundamental drivers are weak. The market is expected to continue to fluctuate weakly, and attention should be paid to the potential pressure of increased production during the wet season [4] Group 3: Market News - On May 06, the number of futures warehouse receipts on the Guangzhou Futures Exchange was 68,930 lots, a net decrease of 306 lots from the previous trading day [5] - The Caixin China Manufacturing Purchasing Managers' Index (PMI) in April was 50.4, down 0.8 percentage points from the previous month, the lowest in three months; the Caixin China Services PMI also dropped 1.2 percentage points to 50.7, the lowest since Q4 2024 [5]

日本4月服务业PMI终值 52.4，前值52.2。 ...

金十数据5月6日讯，由于对关税的担忧导致商业活动下降，德国服务业在经历了四个月的增长后，4月 份重新陷入收缩。4月服务业PMI终值从3月的50.9降至49.0，跌破50的增长门槛。终值略高于初值 48.8。由于需求疲软和客户支出减少，活动下降速度是自2024年2月以来最快的。德国服务公司收到的 新工作数量连续第八个月下降，尽管速度比三月份慢。受访者认为，普遍疲软的经济状况，以及与关税 相关的担忧和不确定性，是造成这种局面的因素。商业信心明显减弱，只有25%的公司对前景持乐观态 度，略高于22%的悲观态度。尽管经济低迷，但服务业就业仍以近一年来最快的速度增长，突显出当前 状况与劳动力扩张之间存在分歧。 PMI显示，德国服务业4月重新陷入收缩 ...