EUR/USD
1.14073
0.085%
Gold
4129.24
1.266%
Oil
84.566
0.438%
USD/JPY
163.113
-0.045%
GBP/USD
1.33826
0.063%
GBP/JPY
218.293
0.032%
Real-time News
Nestlé India shares rose 3% on quarterly profit growth.On July 22, David Zahn, head of European fixed income at Franklin Templeton, stated in a report that the firms base case forecast is for the European Central Bank (ECB) to raise interest rates for the final time in September, with inflation expected to remain above the ECBs 2% target for the next few quarters. Afterward, the ECB is expected to hold rates steady to assess the impact of the already implemented tightening policies. However, Zahn said the ECB remains highly data-driven. "If renewed tensions in the Gulf region push up energy prices and keep inflation above target for an extended period, policymakers may be forced to consider further rate hikes." Franklin Templeton anticipates the ECB will begin easing policy in 2027.The Hang Seng Tech Index fell by more than 3%, with PCB, AI applications, and prominent tech stocks among the biggest losers.The commander of the Kyiv drone force said that Ukrainian drones struck 13 Russian ships in the Black Sea and the Sea of Azov in the past 48 hours.Futures Commentary by Everbright Futures: Overnight, gold, copper, and oil prices rose in tandem, with London spot gold surging above $4,100/ounce in early trading, indicating a recovery in market sentiment. However, the global market is still digesting the uncertainty surrounding US trade policy and geopolitical conflicts. Recently, the US tariff policy entered a transition period, with the US announcing a 50% tariff increase on some Canadian products. Given the combination of macroeconomic fluctuations and geopolitical disturbances, a cautious approach is advised for gold in the short term. On the macro front, the market is in a quiet period ahead of the Federal Reserves interest rate meeting, focusing on the US-Iran conflict. Yesterday, the US president clearly dampened the prospects for US-Iran talks, stating that Iran wants to talk but the US has "no interest," and that it will "soon" strike the Kosan nuclear facility. Furthermore, US Trade Representative Greer hinted that the US will soon introduce new tariff policies to replace the expiring 10% global import tariff. Since the renewed conflict between the US and Iran, gold prices have not remained pessimistic amid fluctuating inflation and interest rate expectations; instead, the price has begun to rise, potentially indicating a gradual shift in market trading logic for gold in the second half of the year. However, whether this trend can continue remains to be seen. In the short term, a defensive approach is still recommended to cope with the highly volatile environment. Investors should continue to monitor the US-Iran conflict, Federal Reserve policy expectations, and whether rising interest rates will trigger liquidity risks in overseas financial markets.
