Investment Rating - The report maintains a high conviction level on several currency pairs, including short CNH against an equal-weighted basket (EUR, AUD, KRW) at 4/5, long EUR/INR at 4/5, and long USD/HKD outright at 4/5 [6][10][16] Core Insights - The report suggests a bias towards a weaker USD, despite some short-term headwinds from stronger-than-expected US nonfarm payroll data [8][12] - Key focus points include potential changes in US trade agreements and the influence of Fed Chair Powell's position on USD strength [11][20] - The report highlights the importance of monitoring developments in US tariffs, particularly concerning Japan and other major trading partners [19][20] Summary by Sections Asia FX Strategy - The conviction level on short CNH against an equal-weighted basket has been raised to 4/5, targeting a 4% return by the end of July [11] - Long EUR/INR is favored with a conviction level of 4/5, driven by RBI's bias to maintain FX reserves and local growth slowdown [17] - Short USD/TWD is maintained at a high conviction level of 4/5, with expectations of continued foreign equity inflows and robust local fundamentals [15] G10 FX Strategy - Long EUR/GBP is retained at a conviction level of 4/5 due to fiscal pressures on GBP and potential for further deterioration in economic data [21] - Short USD/JPY recommendations are maintained, with expectations of downward pressure on USD against JPY amid rising tariff risks [19][20] - The report indicates a modestly positive outlook for AUD, with expectations of a rate cut from the RBA [22] Asia Rates Strategy - Conviction on pay 10y HK IRS is raised to 4/5 due to increased HKMA intervention and expectations of upward pressure on USD/HKD forwards [25] - The conviction on pay 5y outright in China is maintained at 4/5, while the conviction on 2s5s steepener is reduced to 3/5 [26] - In India, a 2y NDOIS receive position is maintained, with limited near-term catalysts expected [27]

Investment Ratings - USD: Bearish [2][12][17] - EUR: Bullish [3][18][19] - JPY: Bullish [4][20][21] - GBP: Neutral [5][22] - CHF: Neutral [6][23] - CAD: Neutral [7][24] - AUD: Neutral [8][25] - NZD: Neutral [9][13] - SEK: Neutral [14][24] - NOK: Neutral [16][24] Core Insights - The report indicates a bearish outlook for the USD, driven by technical factors and expectations of weak growth alongside sticky inflation [2][12][17] - A bullish sentiment is maintained for the EUR, supported by technical momentum and FX hedging, with a significant amount of European holdings in US assets being unhedged [3][19] - The JPY is expected to outperform due to lower US terminal rate pricing and uncertainty regarding tariffs, which may enhance its appeal as a safe haven [4][20][21] - The GBP is viewed neutrally, with potential upside risks depending on local rate movements and fiscal concerns [5][22] - The CHF outlook remains neutral but with a bullish skew, contingent on inflation trends [6][23] - The CAD is expected to face downward pressure due to a bearish outlook on North American growth [7][24] - The AUD's direction is contingent on the RBA's upcoming rate decisions, with a potential rate cut anticipated [8][25] - The NZD outlook is neutral, with risks tied to RBNZ rate decisions [9][13] - The SEK and NOK are both viewed neutrally, with bearish skews due to economic data and oil price pressures [14][16][24] Summary by Currency - **USD**: Bearish due to technical forces and inflation concerns [2][12][17] - **EUR**: Bullish with strong technical support and FX hedging [3][19] - **JPY**: Bullish, benefiting from US data softness and tariff uncertainties [4][20][21] - **GBP**: Neutral with bullish risks based on rate movements [5][22] - **CHF**: Neutral but bullish skew based on inflation data [6][23] - **CAD**: Neutral with bearish risks from economic outlook [7][24] - **AUD**: Neutral with bullish risks depending on RBA decisions [8][25] - **NZD**: Neutral with downside risks from RBNZ [9][13] - **SEK**: Neutral with bearish risks from retail sales data [14][24] - **NOK**: Neutral with bearish risks from oil prices [16][24]

Core Viewpoint - The article provides the interbank foreign exchange market's RMB exchange rate midpoint for July 1, 2025, highlighting fluctuations against various currencies, indicating a mixed trend in currency valuation [1] Currency Exchange Rate Summary - USD/RMB is reported at 7.1534, a decrease (RMB appreciation) of 52 points [1] - EUR/RMB is reported at 8.4305, an increase of 281 points [1] - HKD/RMB is reported at 0.91126, a decrease of 6.9 points [1] - GBP/RMB is reported at 9.8197, a decrease of 103 points [1] - AUD/RMB is reported at 4.7036, an increase of 219 points [1] - CAD/RMB is reported at 5.2557, an increase of 199 points [1] - 100 JPY/RMB is reported at 4.9738, an increase of 144 points [1] - RMB/RUB is reported at 10.9342, a decrease of 216 points [1] - NZD/RMB is reported at 4.3568, an increase of 93 points [1] - RMB/MYR is reported at 0.58727, a decrease of 26.9 points [1] - CHF/RMB is reported at 9.0181, an increase of 460 points [1] - SGD/RMB is reported at 5.6287, an increase of 108 points [1]

Exchange Rate Summary - The central parity rate of the RMB against the USD is reported at 7.1695, indicating a depreciation of the RMB by 34 points [1] - The EUR/RMB exchange rate is at 8.2603, with an increase of 208 points [1] - The HKD/RMB rate is at 0.91333, showing a decrease of 4.5 points [1] - The GBP/RMB rate stands at 9.6701, reflecting an increase of 386 points [1] - The AUD/RMB exchange rate is reported at 4.6529, down by 188 points [1] - The CAD/RMB rate is at 5.2392, decreasing by 46 points [1] - The JPY/RMB exchange rate is at 4.9402, down by 145 points [1] - The RMB/RUB rate is at 10.9105, showing a decrease of 28 points [1] - The NZD/RMB exchange rate is at 4.3054, down by 245 points [1] - The RMB/MYR rate is at 0.5930, with an increase of 15 points [1] - The CHF/RMB exchange rate is at 8.7887, reflecting an increase of 192 points [1] - The SGD/RMB rate is at 5.5835, down by 54 points [1]

Core Points - The central bank's foreign exchange market has reported the RMB exchange rate against various currencies, indicating fluctuations in the value of the RMB [1] Exchange Rate Summary - USD/RMB is reported at 7.1729, a decrease (RMB appreciation) of 32 points [1] - EUR/RMB is reported at 8.2395, a decrease of 163 points [1] - HKD/RMB is reported at 0.91378, a decrease of 3.9 points [1] - GBP/RMB is reported at 9.6315, a decrease of 265 points [1] - AUD/RMB is reported at 4.6717, an increase of 123 points [1] - CAD/RMB is reported at 5.2438, a decrease of 130 points [1] - 100 JPY/RMB is reported at 4.9547, an increase of 91 points [1] - RMB/RUB is reported at 10.9133, a decrease of 168 points [1] - NZD/RMB is reported at 4.3299, a decrease of 17 points [1] - RMB/MYR is reported at 0.59154, an increase of 7 points [1] - CHF/RMB is reported at 8.7695, a decrease of 348 points [1] - SGD/RMB is reported at 5.5889, an increase of 2 points [1]

Core Insights - Currency Exchange International, Corp. (CXI) reported a net income of $1.98 million for Q2 2025, a 291% increase year-over-year, driven by $2.7 million from continuing operations despite a $0.7 million loss from its discontinued subsidiary, Exchange Bank of Canada [1][2][10] - Adjusted net income rose by 18% compared to the previous year, with adjusted diluted earnings per share (EPS) increasing by 24% [1][2][10] - The company experienced a 3% decline in total revenue due to reduced consumer demand for foreign currency as travel activity decreased, although net income increased due to favorable currency revaluation [2][10] Financial Performance - Reported EBITDA for Q2 2025 was $4.9 million, up 10% year-over-year, while adjusted EBITDA was $5.1 million, reflecting a 15% increase [2][10] - For the six-month period ending April 30, 2025, total revenue was $31.3 million, a 3% increase from $30.5 million, with payments revenue up 11% [10][11] - The company maintained a strong financial position with total equity of $81.2 million and net working capital of $60.4 million as of April 30, 2025 [2][10] Strategic Developments - CXI announced the cessation of operations for its subsidiary, Exchange Bank of Canada, with plans to apply for discontinuance under the Bank Act in Q4 2025 [3][4] - The restructuring plan is expected to result in approximately $3 million in annualized costs after tax, which will be fully borne by continuing operations [4] - The company upgraded its U.S. securities listing to the OTCQX Best Market under the symbol CURN on May 20, 2025 [5] Market Position and Growth - CXI continued to expand its direct-to-consumer market presence, adding 124 new clients in the banknotes sector during Q2 2025 [13] - The payments product line saw growth due to investments in core banking platform integrations, processing 45,788 payment transactions in Q2 2025, an increase from 37,781 in the prior period [13] - The company’s diversified business model in the U.S. supports ongoing client growth in the payments sector, despite challenges in banknote revenues due to decreased international travel [6][10]

Core Viewpoint - NCE Forex is focused on building its core competitiveness through innovative security technologies, enhancing user trust and transaction safety in the forex trading platform [1]. Group 1: Security Technologies - The platform employs the latest data encryption technologies and multi-layered identity verification to enhance security [1][2]. - Real-time monitoring and risk management measures are implemented to ensure a secure trading environment [1][2]. - Continuous technological innovation improves system performance and competitiveness [1][3]. Group 2: User Trust and Privacy - User privacy protection is a top priority, with advanced measures ensuring data security during transmission and storage [2][3]. - Transparent privacy policies are provided to users, allowing them to understand how their information is used and protected [2]. - Customer feedback is crucial for improving security measures and maintaining user trust [3][11]. Group 3: Future Trends in Security Technology - Future trends in security technology include the application of artificial intelligence, blockchain, and biometric technologies [1][4]. - The industry is witnessing a growing use of AI and machine learning for threat detection and response [4]. - Quantum computing, although still in its early stages, holds significant potential for future advancements in security [4]. Group 4: Security Protocols and Standards - The execution and maintenance of security protocols are essential for ensuring platform reliability and user information protection [3]. - Regular security audits and vulnerability assessments help identify and rectify system weaknesses [3][4]. - A comparative analysis of different security standards reveals their respective strengths and weaknesses, suggesting a combination of standards may be optimal [4].

2025年5月29日银行间外汇市场人民币汇率中间价 美元/人民币报7.1907，上调（人民币贬值）13点； 欧元/人民币报8.1027，下调531点； 港元/人民币报0.91762，上调4.2点； 英镑/人民币报9.6797，下调451点； 澳元/人民币报4.6309，下调93点； 加元/人民币报5.2016，下调91点； 100日元/人民币报4.9497，下调418点； 人民币/俄罗斯卢布报11.1021，下调519点； 新西兰元/人民币报4.2965，上调149点； 人民币/林吉特报0.58846，下调3.5点； 瑞士法郎/人民币报8.6653，下调354点； 新加坡元/人民币报5.5727，下调117点。 ...

Group 1: Core Views - The acquisition of fundamental forex trading data is crucial for trading decisions, primarily through economic calendars and news websites that track economic indicators, policy changes, and geopolitical events [1] Group 2: Economic Calendar Tools - Economic calendars are essential for forex traders to obtain macroeconomic data release times and expected values, with several commonly used platforms available [2] - "Forex Bang" economic calendar synchronizes with data, covering key metrics like non-farm payrolls and central bank interest rate decisions, suitable for domestic investors due to its Chinese interface [3] - "Forex Factory" offers rapid data updates and strong community interaction, although it is only available in English, making it suitable for English-speaking traders [4] - "Invezz" provides real-time quotes for 200,000 financial products and a comprehensive economic calendar, including Fed rate hike predictions and earnings calendars, supporting multiple languages and free access [4] - "Securities Star" organizes economic data and political events by date, facilitating quick browsing of important indicators for the day [5] - "Forex Tianyan" integrates global economic indicators, bond auctions, and central bank officials' speeches, with clear data categorization, but is positioned as a third-party information query service [6] Group 3: News and Data Websites - "Jin Shi Data" offers instant financial news, data alerts, and event interpretations, excelling in rapid reporting of unexpected events and supporting multi-terminal access [7] - Reuters and Bloomberg are international authoritative media covering global macroeconomic data, central bank policies, and geopolitical analysis, suitable for in-depth reporting and professional commentary [8] - The Wall Street Journal focuses on U.S. economic policies and market dynamics, providing exclusive interpretations of Fed decisions and trade policies [9] - "Invezz" also provides real-time news, analyst opinions, and market sentiment indicators, suitable for comprehensive assessments [10] - "Finance Network" specializes in forex market news and analysis, covering central bank officials' speeches, policy expectations, and strategies combining technical and fundamental analysis [11] Group 4: Usage Tips and Considerations - Prioritize high-impact data such as interest rate decisions, non-farm employment, GDP, and CPI, as these have the most significant effect on exchange rates, with Fed rate decisions typically causing sharp fluctuations in the dollar index [13] - Compare expected values with actual values, as discrepancies often drive short-term market movements, for instance, if U.S. non-farm employment data significantly exceeds expectations, the dollar may strengthen rapidly [14] - Analyze central bank policy trends in conjunction with inflation and employment data for comprehensive judgment, exemplified by the Fed pausing rate cuts in 2025 due to tariff-induced inflation, leading to increased dollar volatility [15] - Utilize tools to assist decision-making, such as combining technical analysis to predict market reactions before data releases and employing hedging tools like forex options or futures to lock in exchange rate risks, especially before major events like elections [16] Group 5: Summary - The acquisition of forex fundamental data relies on professional economic calendars and real-time news platforms, with a focus on high-impact events and data discrepancies. Investors are advised to combine technical analysis and risk management strategies to enhance the accuracy of trading decisions [17]

Group 1 - The article provides a summary of foreign exchange trading terminology for the week of May 19-23, focusing on key concepts that traders should understand [1][6]. - "Equity-based lot" is defined as a method of calculating lot size based on account equity rather than balance, allowing for a more conservative approach by considering floating losses [1][5]. - "Risk-based lot / Auto lot" is described as a method that automatically calculates the maximum allowable loss per trade based on set risk parameters, suitable for experienced traders [2][5]. Group 2 - "FX majors" refers to major currency pairs involving the US dollar and other highly liquid currencies, characterized by low spreads and high liquidity, making them popular for automated trading strategies [5][7]. - "FX minors" are defined as currency pairs that do not directly involve the US dollar, typically having higher spreads and lower liquidity, which can increase the risk of slippage and volatility [5][7]. - "Margin" is explained as the portion of funds that is frozen by the trading platform as a deposit for each order, with insufficient margin leading to automatic liquidation of positions [10]. - "Leverage" is described as a tool that allows traders to control larger positions with a smaller amount of capital, with a leverage ratio of 1:100 enabling a trader to control 100 times their investment [10]. - "Breakout" refers to a significant price movement after a period of consolidation, often targeted by trading strategies [13]. - "Consolidation" is characterized by price movements within a narrow range, where certain trading strategies may be favored [13]. - "Slippage" is defined as the difference between the expected price of a trade and the actual price at which the trade is executed, often occurring during volatile market conditions [14][15]. - "Drawdown" is explained as the maximum decline in account value from a peak to a trough, with a specific example illustrating a 50% drawdown [16].