Core Points - The central bank's foreign exchange market has reported the RMB exchange rates for July 11, 2025, indicating a mixed performance against various currencies [1] Group 1: Exchange Rate Changes - The USD/RMB rate is reported at 7.1475, a decrease of 35 points, indicating an appreciation of the RMB [1] - The EUR/RMB rate is at 8.3697, down by 313 points, reflecting a stronger RMB against the Euro [1] - The HKD/RMB rate is at 0.91054, down by 4.2 points, showing a slight appreciation of the RMB against the Hong Kong Dollar [1] - The GBP/RMB rate is at 9.7142, down by 209 points, indicating a stronger RMB against the British Pound [1] - The AUD/RMB rate is at 4.7156, up by 335 points, suggesting a depreciation of the RMB against the Australian Dollar [1] - The CAD/RMB rate is at 5.2391, up by 63 points, indicating a weaker RMB against the Canadian Dollar [1] - The JPY/RMB rate is at 4.8981, down by 65 points, reflecting a stronger RMB against the Japanese Yen [1] - The RMB/RUB rate is at 10.8324, down by 550 points, indicating a stronger RMB against the Russian Ruble [1] - The NZD/RMB rate is at 4.3225, up by 227 points, suggesting a depreciation of the RMB against the New Zealand Dollar [1] - The RMB/MYR rate is at 0.59359, up by 8.9 points, indicating a weaker RMB against the Malaysian Ringgit [1] - The CHF/RMB rate is at 8.9859, down by 426 points, reflecting a stronger RMB against the Swiss Franc [1] - The SGD/RMB rate is at 5.5933, down by 21 points, indicating a stronger RMB against the Singapore Dollar [1]

Core Viewpoint - Standard Chartered Bank's report emphasizes a positive outlook on global equities while being cautious about the US dollar's strength, suggesting a shift towards risk assets due to expected dollar weakness [2][3]. Global Stock Outlook - The bank continues to favor global stocks, particularly increasing the allocation to Asian equities (excluding Japan) due to the anticipated weakening of the dollar, which is expected to attract more capital into emerging markets [3][11]. - The chief investment officer for North Asia at Standard Chartered highlights the ongoing uncertainty in the global investment environment, with a structural risk of "de-dollarization" gaining attention [4]. Fixed Income Strategy - Standard Chartered expects the dollar's decline to enhance the appeal of emerging market local currency bonds, maintaining an overweight position in these assets [7]. - The bank views global bonds as a core portfolio component, favoring emerging market local currency government bonds while underweighting developed market investment-grade corporate bonds due to high valuations and economic uncertainty [9]. Currency Perspective - The bank predicts that cyclical factors will lead to a weaker dollar over the next 6-12 months, with the euro and yen likely benefiting from this trend [13]. - Despite the dollar's ongoing dominance, there are signs of a gradual erosion of its position due to changing trade flows and structural debt concerns [14][15]. Gold and Diversification - The report notes that gold is becoming increasingly attractive as a hedge against inflation and geopolitical uncertainty, with central banks, especially in emerging markets, increasing their gold purchases [18][19]. - According to a survey by the World Gold Council, 76% of central banks believe that gold's share in global reserves will rise over the next five years, up from 69% in the previous year [18].

Group 1 - The euro to dollar exchange rate has dropped to around 1.1705, while the pound has risen for the fourth consecutive trading day, surpassing the 1.3700 mark during the European session [1] - The US dollar has regained strength against the yen, breaking through the 147.00 level, and the Australian dollar is fluctuating above 0.6500 [1] - The New Zealand dollar is showing an upward trend, trading around 0.6050, and the US dollar has also strengthened against the Canadian dollar, climbing to approximately 1.3700 [1] Group 2 - President Trump stated that those who challenge the dollar will pay a price, emphasizing the dollar's dominance [2] - Trump also suggested that if Federal Reserve Chairman Powell misleads Congress, he should resign immediately and called for an interest rate cut [3] - According to the Wall Street Journal, National Economic Council Director Hassett is a strong contender for the next Federal Reserve Chairman, having met with Trump in June [3] Group 3 - Fitch Ratings indicated that US stablecoin legislation could address key credit risks and enhance usage [4] - The UK's Office for Budget Responsibility (OBR) projected that by the early 2070s, UK debt will exceed 270% of GDP [5] - The Hong Kong Monetary Authority provided liquidity of 46.7 billion HKD to banks through the discount window [6] - The Bank of Japan's committee member noted that the weighted median inflation remains below 2%, requiring careful examination of inflation stability in Japan's economy [6] - The Reserve Bank of New Zealand maintained its benchmark interest rate at 3.25%, aligning with market expectations, and indicated potential future rate cuts if mid-term inflation pressures ease [6] - A Reuters survey indicated that all 30 economists surveyed expect the Reserve Bank of Australia to lower the cash rate to 3.60% in August [6] Group 4 - The Thai Industrial Federation estimated that Thailand's exports have suffered losses of approximately 800 to 900 billion THB due to US tariff measures [7] - The Vietnamese Prime Minister stated that achieving a growth target of at least 8% by 2025 is a significant challenge [8] - The Bank of Thailand's meeting minutes suggested that monetary policy should remain accommodative to support economic development, with a low likelihood of a technical recession [8] Group 5 - Technical analysis for EUR/USD indicates resistance at the 2025 high of 1.1830, with support at the 55-day simple moving average at 1.1428 [9] - For AUD/USD, the Ichimoku Cloud analysis shows the pair testing the baseline, indicating potential short-term downside risk, although the overall trend remains unchanged [9] - GBP/USD is currently contesting the 2022 high of 1.3643, with support from the 21-day simple moving average at 1.3588 [10]

美元刚刚经历了自20世纪70年代初以来最糟糕的上半年表现。而不少业内人士表示，下半年美元的 前景可能也好不到哪里去…… 在2025年的前六个月，ICE美元指数累计下跌了近11%，这是自1973年尼克松时代以来该指 数在历年上半年的最大跌幅。 而1973年也正是布雷顿森林体系最终彻底崩溃的一年，西方国 家在当时放弃了固定汇率制，转而实行浮动汇率制。 事实上，过去十年间，美元也曾经历过其他疲弱期，但正如下图所示，没有哪一次像过去六个 月时间里发生的那样严重。 这一次，风向似乎正在彻底转变，且对美元不利。如今，华尔街很少有人预期美元在未来一年 左右时间会走强。有些人甚至认为这可能是美元长期贬值周期的开始。美元汇率的持续下跌， 也正开始使其作为全球顶级避险资产的地位，受到愈发尖锐的质疑。 对此， 杰富瑞集团全球外汇主管Brad Bechtel表示，"我认为美元的整体趋势仍将走低。" 外汇对冲需求 Bechtel和其他一些业内人士盘点了美元目前面临的三大利空： 通常，这些以本国货币计算回报但投资于以其他货币计价资产的投资者，会使用远期等衍生品 合约来对冲货币风险。多年来，随着美国股市和美元持续攀升，持有美股和美债的外国 ...

Group 1 - The euro/dollar exchange rate briefly strengthened before declining, currently at 1.1707 with a decrease of 0.13% [1] - Consumer inflation expectations in the U.S. have fallen back to levels seen before the announcement of large new tariffs by the Trump administration, with the median expectation for price increases over the next year dropping from 3.2% to 3% [1] - The U.S. labor market outlook is mixed, with many consumers anticipating difficulties in finding new jobs, aligning with cautious hiring and layoffs reported by U.S. companies [1] Group 2 - Germany's exports to the U.S. significantly decreased in May due to tariff threats from President Trump, with total exports falling by 1.4% month-on-month, while imports dropped by 3.8% [2] - The trade surplus for Germany increased from €15.7 billion to €18.4 billion (approximately $21.6 billion) in May [2] - The EU is seeking a preliminary trade agreement with the U.S. to lock in tariff rates at 10% after the August 1 deadline, with negotiations for a permanent agreement ongoing [2] Group 3 - The euro is supported at the 1.0950 level on a monthly basis, indicating a long-term bullish outlook [3] - On a weekly basis, the euro is supported at the 1.1450 area, suggesting a continued bullish perspective despite temporary corrections [3] - Key levels to watch include 1.1700 and the previous day's low, with a focus on whether the price can break below these support levels [3]

Core Viewpoint - The recent appreciation of the Renminbi (RMB) against the US dollar has significant implications for various groups, including students studying abroad, foreign trade practitioners, and investors monitoring global economic trends [1][4]. Exchange Rate Overview - As of the latest data, the central parity rate of 1 USD is 7.1506 RMB, reflecting a slight increase of 29 basis points from the previous trading day, indicating a sustained appreciation trend for the RMB [3]. - The onshore market (CNY) shows a latest transaction price of 7.1692, while the offshore market (CNH) is at 7.1676, suggesting a consistent expectation of the RMB's value between domestic and foreign markets [3]. Impact of RMB Appreciation - For students and travelers, the appreciation means they can exchange less RMB for the same amount of USD, potentially saving money on expenses like tuition or travel [4]. - Conversely, for cross-border e-commerce and foreign trade businesses, the same USD revenue will convert to a lower amount in RMB, impacting profit margins over time [4]. Reasons for RMB Appreciation - The recent appreciation is attributed to several factors, including a weakening US dollar index, which provides room for other currencies to strengthen, and a stable recovery of the Chinese economy, enhancing confidence in RMB assets [5][6]. Strategies for Individuals and Businesses - Individuals are advised to consider staggered currency exchanges to mitigate risks associated with exchange rate fluctuations [7]. - Businesses engaged in foreign trade can negotiate with banks to lock in exchange rates, ensuring stable profits despite market volatility [8]. Future Outlook - The RMB is expected to experience small fluctuations, alternating between appreciation and depreciation, influenced by international economic conditions, US Federal Reserve policies, domestic economic fundamentals, and international capital flows [10].

Group 1: Precious Metals - Spot platinum (XPTUSD) is priced at 1372.850, down by 5.924 or 0.43% [2] - Spot palladium (XPDUSD) is priced at 1111.436, down by 4.702 or 0.42% [2] - Gold (COMEX) is priced at 3308.800, down by 2.200 or 0.07% [2] - Silver (COMEX) is priced at 36.765, down by 0.160 or 0.43% [2] Group 2: Foreign Exchange - Euro to USD (EURUSD) is at 1.172, down by 0.01% [3] - GBP to USD (GBPUSD) is at 1.358, down by 0.05% [3] - USD to JPY (USDJPY) is at 146.875, up by 0.22% [3] - AUD to USD (AUDUSD) is at 0.653, up by 0.02% [3] - USD to CHF (USDCHF) is at 0.796, up by 0.08% [3] Group 3: Virtual Currency - Bitcoin (BTC) is priced at 108770.990, down by 151.990 or 0.14% [4] - Litecoin (LTC) is priced at 87.300, down by 0.460 or 0.52% [4] - Ethereum (ETH) is priced at 2604.120, down by 11.130 or 0.43% [4] - Ripple (XRP) is priced at 2.306, down by 0.005 or 0.21% [4] Group 4: Treasury Bonds - The yield on the 2-year U.S. Treasury bond is at 3.903 [6] - The yield on the 5-year U.S. Treasury bond is at 3.985, down by 0.002 or 0.05% [7] - The yield on the 10-year U.S. Treasury bond is at 4.410, down by 0.006 or 0.14% [7] - The yield on the 30-year U.S. Treasury bond is at 4.937, down by 0.009 or 0.18% [7] - The yield on the 10-year UK Treasury bond is at 4.632, down by 0.002 or 0.04% [7] - The yield on the 10-year German Treasury bond is at 2.642, up by 0.036 or 1.40% [7] - The yield on the 10-year French Treasury bond is at 3.363, up by 0.041 or 1.23% [7] - The yield on the 10-year Italian Treasury bond is at 3.561, up by 0.044 or 1.25% [7] - The yield on the 10-year Japanese Treasury bond is at 1.481, down by 0.005 or 0.34% [7]

Global Asset Market Performance - On July 8, 2025, the 10 - year Treasury yields of major economies were as follows: the US was 4.401, the UK was 4.632, etc. The latest changes, weekly changes, monthly changes, and annual changes varied among different countries [3]. - The 2 - year Treasury yields of major economies on July 8, 2025, showed different values for the US, UK, etc., with corresponding changes over different time periods [3]. - The exchange rates of the US dollar against major emerging - economy currencies on July 8, 2025, had different values for South Africa, Brazil, etc., and also had different changes over different time periods [3]. - The on - shore and off - shore RMB exchange rates and their corresponding changes on July 8, 2025, were presented, including latest, weekly, monthly, and annual changes [3]. - Major economies' stock indices on July 8, 2025, had different closing prices for the Dow Jones, S&P 500, etc., and different changes over different time periods [3]. - Emerging - economy stock indices on July 8, 2025, had different closing prices for Malaysia, Australia, etc., and different changes over different time periods [3]. - Credit bond indices on July 8, 2025, had different values for emerging - economy investment - grade, high - yield, etc., and different changes over different time periods [3][4]. Stock Index Futures Trading Data - On July 8, 2025, the closing prices, price changes, valuations, risk premiums, fund flows, trading volumes, and basis spreads of A - shares, CSI 300, etc., were presented [5]. Treasury Futures Trading Data - On July 8, 2025, the closing prices and price changes of Treasury futures T00, TF00, etc., were presented, along with the money market's capital interest rates and daily changes [6].

Core Points - The central theme of the article is the fluctuation of the Renminbi (RMB) exchange rates against various currencies as of July 9, 2025, indicating a mixed trend with some currencies appreciating against the RMB while others depreciate [1] Exchange Rate Summary - USD/RMB is reported at 7.1541, showing an increase (RMB depreciation) of 7 points [1] - EUR/RMB is reported at 8.3966, showing a decrease of 144 points [1] - HKD/RMB is reported at 0.91136, showing an increase of 0.8 points [1] - GBP/RMB is reported at 9.7327, showing a decrease of 327 points [1] - AUD/RMB is reported at 4.6775, showing an increase of 138 points [1] - CAD/RMB is reported at 5.2418, showing a decrease of 44 points [1] - 100 JPY/RMB is reported at 4.8826, showing a decrease of 288 points [1] - RMB/RUB is reported at 10.9324, showing a decrease of 330 points [1] - NZD/RMB is reported at 4.2977, showing a decrease of 114 points [1] - RMB/MYR is reported at 0.5923, showing an increase of 6.7 points [1] - CHF/RMB is reported at 8.9968, showing an increase of 44 points [1] - SGD/RMB is reported at 5.5958, showing a decrease of 71 points [1]

Group 1 - The core point of the article is that President Trump signed an executive order to extend the tariff delay until August 1, alleviating tensions in global financial markets [1] - Following the announcement, Asian stock markets showed a significant rebound, with the Hang Seng Tech Index increasing by 1%, and the South Korean KOSPI rising over 1.5% before settling around 0.8% [1] - The Nikkei 225 index initially rose by 0.5% but later experienced a slight pullback, while major indices in Thailand and Vietnam also saw gains [1] Group 2 - In the foreign exchange market, the euro and pound rebounded, leading to a weaker dollar, although the yen fell to a two-week low against the dollar [1][6] - The euro appreciated by 0.3% to 1.1742, and the pound rose by 0.24% to 1.3631, while the dollar index declined by approximately 0.2% [6] - The Japanese yen and South Korean won both experienced fluctuations, with the yen continuing to face pressure, dropping to 146.44 against the dollar [9] Group 3 - Trump's announcement included a warning of potential tariffs on imports from Kazakhstan, Malaysia, South Africa, Laos, and Myanmar, with rates ranging from 25% to 40% [15] - The market interpreted Trump's actions as a negotiation strategy rather than a definitive stance on tariffs, with analysts suggesting that investors are overlooking the latest tariff announcements [15] - The August 1 deadline for tariff negotiations is confirmed but not absolute, as Trump indicated openness to alternative proposals from other countries [15]