10月7日，高市早苗的核心经济顾问、前"安倍经济学"主要设计者本田悦朗公开表示，日本央行在10月 加息"可能较为困难"，建议将加息时点推迟至12月。作为前首相安倍晋三的政治门生，高市早苗长期倡 导宽松货币政策，其政策理念深受"安倍经济学"影响。本田悦朗透露，高市早苗希望央行在加息问题 上"保持谨慎"，尽管她尚未提出具体时间表。 高市早苗预计将于10月15日前后经国会投票正式出任日本首相，成为该国历史上首位女性首相。其意外 胜出——此前市场更看好小泉进次郎——促使金融市场迅速重估政策前景。在"更多财政刺激"与"央行 加息节奏放缓"的双重预期推动下，日经225指数周一盘中创下历史新高，美元兑日元亦突破150关键关 口。 2013年日本政府与央行达成的联合声明，为长达十余年的超宽松货币政策提供理论基础，至今仍具效 力。高市早苗胜选后表示将重新审视该协议是否仍为"最佳形式"，但本田悦朗建议"不必急于修改"，并 指出一旦进入审议阶段，包括2%通胀目标在内的内容"也可能被修订"。 新华财经北京10月10日电 亚洲交易时段，美元兑日元一度升至153.27。自4月底触及139.88的阶段性低 点以来，该货币对累计反弹逾7.5 ...

贵金属早报 研究中心宏观团队 2025/10/10 价 格 表 现 品种 伦敦金 伦敦银 伦敦铂 伦敦钯 WTI原油 LME铜 最新 4019.25 49.71 1571.00 1235.00 - 10867.50 变化 193.95 3.53 -18.00 -22.00 - 485.50 品种 美元指数 欧元兑美元 英镑兑美元 美元兑日元 美国10年期TIPS 最新 - 1.16 1.33 - - 变化 - -0.02 -0.01 - - 交 易 数 据 日期 COMEX白银 库存 上期所白银 库存 黄金ETF持仓 白银ETF持仓 上金所白银 库存 上金所黄金 递延费支付方向 上金所白银 递延费支付方向 最新 - 1186.85 1013.44 - - 1 1 变化 - -5.43 0.56 - - 0.00 0.00 贵 金 属 比 价 免责声明: 以上内容所依据的信息均来源于交易所、媒体及资讯公司等发布的公开资料或通过合法授权渠道向发布人取得的资讯，我们力求分析及建议内 容的客观、公正，研究方法专业审慎，分析结论合理，但公司对信息来源的准确性和完整性不作任何保证，也不保证所依据的信息和建议不会 发生任何 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report - Overseas macro: The US government is in a shutdown, and Japan is likely to have its first female prime minister. A shutdown over 15 days may affect the release of important economic data. If Koike Sanae is elected, it may impact Sino - Japanese relations and market risk preference [7]. - Domestic macro: The domestic economy continues to stabilize. The manufacturing PMI is 49.8, up 0.4 percentage points month - on - month. The non - manufacturing PMI drops 0.3 points to 50.0. During the holiday, consumption and travel were active [7]. - Asset view: In October, domestic assets benefit from policy expectations and ample liquidity. Overseas, the focus is on the Fed's October rate cut and the BoJ's inaction. The weak - dollar trend continues but with a slower slope. In the fourth quarter, maintain the asset allocation order of equities > commodities > bonds [7]. 3. Summary by Related Catalogs 3.1 Financial Market - **Stock Index Futures**: All major stock index futures showed gains. The CSI 300 futures had a daily, weekly, monthly, quarterly, and year - to - date increase of 1.54%, 1.54%, 1.54%, 1.54%, and 19.59% respectively. The Shanghai 50 futures, CSI 500 futures, and CSI 1000 futures also had positive performances [3]. - **Treasury Bond Futures**: Most treasury bond futures had small increases, except for the 2 - year treasury bond futures with a year - to - date decline of 0.56% [3]. - **Foreign Exchange**: The US dollar index was flat on the day, with different trends in other currency pairs. For example, the euro - US dollar exchange rate remained unchanged on the day, while the US dollar - Japanese yen exchange rate had a weekly increase of 3.52% [3]. - **Interest Rates**: Some interest rates had minor changes, such as the 10 - year Chinese treasury bond yield decreasing by 2.7 bp [3]. 3.2 Hot Industries - Industries like construction, steel, and non - ferrous metals had positive daily, weekly, monthly, quarterly, and year - to - date performances. For example, the non - ferrous metals index had a year - to - date increase of 33.42% [3]. - Some industries such as food and beverage, automotive, and defense and military had mixed performances, with some showing daily declines but positive long - term trends [3]. 3.3 Overseas Commodities - **Energy**: Crude oil futures (NYMEX WTI and ICE Brent) had small daily increases but year - to - date declines. Natural gas prices were mostly down, with NYMEX natural gas having a daily decline of 5.14% [3]. - **Precious Metals**: Gold and silver had significant year - to - date increases, with COMEX gold up 53.85% year - to - date [3]. - **Non - ferrous Metals**: Most non - ferrous metals showed positive long - term trends, but some had daily fluctuations [3]. - **Agricultural Products**: Agricultural products had diverse performances. For example, CBOT soybeans had a year - to - date increase of 1.96%, while ICE 2 - cotton had a year - to - date decline of 5.03% [3]. 3.4 Other Commodities - **Shipping**: The container shipping route to Europe had a significant daily decline of 50.38% [4]. - **Precious Metals**: Gold and silver continued to show positive trends, with silver having a year - to - date increase of 49.52% [4]. - **Non - ferrous Metals and New Materials**: Copper, tin, and other metals had positive price movements, while some like alumina had a weak fundamental situation [4]. - **Black Building Materials**: Most black building materials showed a mixed performance, with some like iron ore having a positive year - to - date performance and others like silicon iron having a decline [4]. - **Energy and Chemicals**: Crude oil had a year - to - date decline of 15.88%. Most chemical products showed a trend of price fluctuations and were in a state of supply - demand adjustment [4]. - **Agricultural Products**: Some agricultural products like soybeans and peanuts had different price trends, with peanuts having a year - to - date decline of 2.83% [4]. 3.5 Market Outlook by Sector - **Financial**: Stock markets had a shrinking - volume rebound, and bond markets remained weak. Stock index futures were expected to rise in a volatile manner, while bond futures were expected to be volatile [8]. - **Precious Metals**: Driven by dovish expectations, the prices of gold and silver were expected to rise in a volatile manner [8]. - **Shipping**: Attention was paid to the rate of freight price decline, and the container shipping route to Europe was expected to be volatile [8]. - **Black Building Materials**: A negative feedback was difficult to form, and the sector was expected to remain volatile before the holiday [8]. - **Non - ferrous Metals and New Materials**: Supply disruptions continued to ferment, and most metals were expected to be volatile, with some like copper expected to rise in a volatile manner [8]. - **Energy and Chemicals**: The crude oil market continued to be volatile, and the chemical market was mainly for hedging and arbitrage, with most products expected to be volatile [10]. - **Agriculture**: Affected by Argentina's tariff policy, oilseeds and meal were hit. Most agricultural products were expected to be volatile [10].

贵金属早报 研究中心宏观团队 2025/10/09 价 格 表 现 品种 伦敦金 伦敦银 伦敦铂 伦敦钯 WTI原油 LME铜 最新 3825.30 46.18 1589.00 1257.00 62.37 10382.00 变化 -1.55 -0.77 37.00 -18.00 -1.08 118.00 品种 美元指数 欧元兑美元 英镑兑美元 美元兑日元 美国10年期TIPS 最新 97.82 1.17 1.34 147.93 1.80 交 易 数 据 | 日期 | COMEX白银 | 上期所白银 | 黄金ETF持仓 | 白银ETF持仓 | 上金所白银 | 上金所黄金 | 上金所白银 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 库存 | 库存 | | | 库存 | 递延费支付方向 | 递延费支付方向 | | 最新 | 16491.06 | 1192.28 | 1012.88 | 15685.09 | - | 1 | 1 | | 变化 | -39.95 | 2.63 | 1.15 | 163.74 | - | 0.00 | 0.00 | 贵 金 ...

智通财经APP获悉，随着主张采取宽松货币政策的高市早苗成功当选日本自民党总裁，并且几乎确定将成为下一任日本首相，市场预期日本央行将放缓加息 步伐，曾经流行的日元套利交易似乎即将卷土重来。 日元兑主要货币周一全线下跌，原因是投资者押注高市早苗的亲刺激立场将导致日本央行放缓政策紧缩的时间表。日本央行推迟加息很可能会诱使交易员重 新回归所谓的日元套利交易策略，即借入低收益的日元，并买入诸如巴西雷亚尔或澳元等高收益货币，以赚取利差。荷兰合作银行外汇策略主管Jane Foley 表示："市场可能会得出短期内'日元套利交易重新启动'的结论。" 瑞穗银行伦敦分行高级外汇策略师Masayuki Nakajima也认为，日元抛售可能进一步加速。他指出，日元兑欧元可能下探至180的水平(周一已创下历史新 低)，并可能在兑其他亚洲货币时面临进一步压力。他表示："如果高市早苗继续主张'日元疲软不会对日本经济造成负面影响'，并坚持日本央行不应加息的 立场，那么套利交易可能重启，日元将全面走弱。" 德意志银行策略师则称，他们已决定关闭此前的看涨日元头寸，因为"鉴于政治意外，目前缺乏正面催化因素"。Markets Live策略师Camer ...

（文章来源：每日经济新闻） 每经AI快讯，10月2日纽约尾盘，美元指数涨0.15%报97.88，非美货币多数下跌，欧元兑美元跌0.12%报 1.1717，英镑兑美元跌0.28%报1.3439，澳元兑美元跌0.26%报0.6596，美元兑日元涨0.12%报147.2685， 美元兑加元涨0.22%报1.3968，美元兑瑞郎涨0.11%报0.7980。 ...

（文章来源：每日经济新闻） 每经AI快讯，10月1日纽约尾盘，美元指数跌0.09%报97.74，非美货币多数上涨，欧元兑美元跌0.03%报 1.1731，英镑兑美元涨0.24%报1.3477，澳元兑美元持平报0.6613，美元兑日元跌0.57%报147.0915，美 元兑加元涨0.13%报1.3938，美元兑瑞郎涨0.09%报0.7971。 ...

贵金属早报 研究中心宏观团队 2025/09/30 价 格 表 现 品种 伦敦金 伦敦银 伦敦铂 伦敦钯 WTI原油 LME铜 最新 3826.85 46.95 1552.00 1275.00 63.45 10264.00 变化 57.00 1.95 47.00 41.00 -2.27 -7.50 品种 美元指数 欧元兑美元 英镑兑美元 美元兑日元 美国10年期TIPS 最新 97.93 1.17 1.34 148.61 - 变化 -0.26 0.00 0.00 -0.89 - 交 易 数 据 日期 COMEX白银 库存 上期所白银 库存 黄金ETF持仓 白银ETF持仓 上金所白银 库存 上金所黄金 递延费支付方向 上金所白银 递延费支付方向 最新 16531.01 1189.65 1011.73 15521.35 1252.41 1 1 变化 35.45 31.38 6.01 159.51 0.00 0.00 0.00 贵 金 属 比 价 升 贴 水 、 库 存 、 E T F 持 仓 变 化 以上图表数据来源：彭博、永安源点资讯、万得 免责声明: 以上内容所依据的信息均来源于交易所、媒体及资讯公司等发布的 ...

Price Performance - London Gold's latest price is 3730.75 with a change of -30.85 [2] - London Silver's latest price is 44.94 with a change of 1.06 [2] - London Platinum's latest price is 1480.00 with a change of 2.00 [2] - London Palladium's latest price is 1226.00 with a change of -4.00 [2] - WTI Crude's latest price is 64.99 with a change of 0.00 [2] - LME Copper's latest price is 10323.00 with a change of 357.00 [2] - US Dollar Index's latest value is 97.87 with a change of 0.00 [2] - Euro to US Dollar's latest exchange rate is 1.17 with a change of 0.00 [2] - British Pound to US Dollar's latest exchange rate is 1.34 with a change of 0.00 [2] - US Dollar to Japanese Yen's latest exchange rate is 148.90 with a change of 0.00 [2] - US 10 - year TIPS's latest value is 1.78 with a change of 0.00 [2] Trading Data - COMEX Silver's latest inventory is 16396.36 with a change of 0.00 [3] - SHFE Silver's latest inventory is 1156.86 with a change of -4.94 [3] - Gold ETF's latest holding is 996.85 with a change of 0.00 [3] - Silver ETF's latest holding is 15390.07 with a change of -79.05 [3] - SGE Silver's latest inventory is 1248.26 with a change of 0.00 [3] - SGE Gold's latest deferred fee payment direction is 1 with a change of -1.00 [3] - SGE Silver's latest deferred fee payment direction is 1 with a change of 0.00 [3]

Group 1 - The US dollar index decreased by 0.08% to 97.23, indicating a slight weakening of the dollar against other currencies [1] - The euro appreciated by 0.10% against the dollar, reaching 1.1814, reflecting a strengthening of the eurozone currency [1] - The British pound rose by 0.11% to 1.3528 against the dollar, showing positive movement for the UK currency [1] Group 2 - The Australian dollar experienced a minor decline of 0.01%, trading at 0.6599 against the US dollar [1] - The dollar fell by 0.05% against the Japanese yen, with a rate of 147.6625 [1] - The Canadian dollar increased by 0.13% against the US dollar, reaching 1.3836, indicating a stronger performance for the Canadian currency [1] - The Swiss franc depreciated by 0.14% against the dollar, trading at 0.7914 [1]