EUR/USD
1.13819
0.047%
Gold
4042.92
-0.158%
Oil
90.166
-1.002%
USD/JPY
163.827
-0.016%
GBP/USD
1.33203
0.051%
GBP/JPY
218.229
0.050%
Real-time News
The Peoples Bank of China (PBOC) announced today that it conducted 89 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 89 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.Japanese Finance Minister Satsuki Katayama: I will not comment on specific foreign exchange levels.July 24th - Marcel Thieliant, Chief Economist for Asia at Capital Economics, stated that preliminary Japanese Purchasing Managers Index (PMI) data indicates the countrys economy continues to recover from the impact of energy cost shocks. The Japanese economy remains resilient and still foreshadows a sharp acceleration in inflation. The composite PMI rose slightly to a four-month high of 53.1 in July from 52.8, consistent with a GDP growth rate of approximately 1.5%, above trend. Thieliant added that this improvement is difficult to explain, as both the services and manufacturing PMIs weakened. He believes this may be because Japan is finally beginning to benefit from stronger demand for artificial intelligence-related products.Japanese Finance Minister Satsuki Katayama: The U.S. Treasury Departments foreign exchange report referenced the U.S.-Japan joint statement, which stated that excessive exchange rate volatility is undesirable.On July 24th, futures markets for crude oil opened slightly lower, with the SC crude oil main contracts gains narrowing to 5%, and low-sulfur fuel oil (LU) and fuel oil gains falling below 2%. Huatai Futures believes that geopolitical factors remain the main driver of recent oil price surges, including the renewed closure of the Strait of Hormuz, the shutdown of CPC terminals, and Houthi attacks on Red Sea oil tankers. However, the physical market has been relatively restrained recently. Apart from a significant rebound in the discount for Middle Eastern crude oil, discounts in Europe, West Africa, and Latin America have remained relatively stable without a sharp rise. This differs significantly from the market conditions in March and April of this year. Currently, the physical market is not short of oil, and there has been no panic buying. This is mainly due to sluggish Chinese imports and the fact that other countries import demands are largely met. The nearly 80 million barrels of cargo held up when the Strait of Hormuz reopened also acted as a buffer for the market. Currently, there is a significant divergence between paper and physical markets, indicating that the current upward trend is mainly driven by sentiment rather than fundamentals.
