EUR/USD
1.15439
0.022%
Gold
4379.51
0.263%
Oil
82.501
0.384%
USD/JPY
159.217
-0.051%
GBP/USD
1.35101
0.021%
GBP/JPY
215.109
-0.029%
Real-time News
On August 12th, a research report from CICC stated that the commodity market is likely to continue to diverge. AI data centers, grid expansion, and energy transition will continue to support demand for copper and aluminum. Given the continued strong supply constraints, non-ferrous metals offer the dual benefits of improved liquidity and AI-driven physical investment, and we recommend an overweight position. Energy commodities such as oil still possess hedging value, but future volatility may increase; we suggest maintaining current positions and avoiding chasing highs.On August 12th, a research report from CICC stated that two narratives that previously suppressed gold prices are being disproven: First, global liquidity has not truly entered a tightening cycle. With declining inflation and slowing growth in the US, economic fundamentals support a looser monetary policy. Warshs "hawkish in name but dovish in practice" stance suggests that Fed reforms may open up room for future interest rate cuts. Second, "de-dollarization" is not over. While Warshs balance sheet reduction policy objectively helps repair the dollars credibility, this policy is subject to multiple constraints from financial markets and politics, resulting in high uncertainty regarding its future implementation. Meanwhile, the structural erosion of the dollars credibility by high debt, high deficits, and policy uncertainty may be difficult to reverse. Global central banks net gold purchases rebounded to 289 tons in the second quarter, a 62% year-on-year increase and a record high for the second quarter, reflecting deep-seated concerns about the dollar among global central banks. Reserve diversification will continue to support gold demand in the medium to long term. As global liquidity becomes more relaxed, upward pressure on real interest rates and the dollar will ease, potentially allowing gold to regain the dual support of liquidity and monetary system diversification. We believe the gold bull market is not over, and the window for re-allocating after the previous correction has opened. We recommend continuing to overweight gold.Japans broad money supply liquidity rate was 4.4% year-on-year in July, down from 4.5% in the previous month.August 12th - According to a report by the Wall Street Journal on the 11th, an internal investigation by the U.S. Department of Defense revealed that a series of U.S. military strikes against Yemen in 2025 will result in hundreds of civilian casualties. The report states that this marks the first time the Trump administration has officially acknowledged the scale of civilian casualties caused by its airstrikes against the Houthi rebels in Yemen.Japans M3 money supply annual rate was 1.4% in July, down from 1.50% in the previous month.
