EUR/USD
1.16461
-0.046%
Gold
4579.03
-0.491%
Oil
82.642
-0.387%
USD/JPY
159.420
0.019%
GBP/USD
1.35884
-0.029%
GBP/JPY
216.614
-0.009%
Real-time News
On August 28th, Vice Minister of Commerce Yan Dong stated at a press conference held by the State Council Information Office that Chinas service trade development will see several favorable factors in the second half of the year. First, the potential of travel services will continue to be released. With the overlap of international exhibitions, business activities, and the peak season for inbound tourism, travel service exports are expected to maintain high growth. Second, high value-added sectors will show strong growth momentum. The export of digital platform services, cloud services, and artificial intelligence-related services is accelerating, while telecommunications, computer and information services, intellectual property, and cultural entertainment services are developing rapidly, driving service trade towards the high end of the value chain. Third, policy dividends will continue to support the sector. Policies such as expanding and improving the service industry and establishing national service trade innovation and development demonstration zones are taking effect, complementing the upcoming China International Fair for Trade in Services (CIFTIS) and creating a better environment for high-level opening-up and high-quality development of service trade. Looking ahead to the whole year, Chinas service trade will maintain a positive overall trend, with strong growth momentum in service exports.On August 28th, Christopher Wong of OCBC Bank stated that the Jackson Hole meeting will be the next key test for gold. Market attention is focused on Federal Reserve Chairman Warshs speech, but since such speeches typically do not include a Q&A session, there is limited room for the market to expect him to provide clearer signals regarding September policy. However, traders may still carefully interpret the speech for clues about the Feds overall policy framework and how Warsh defines it, potentially involving inflation persistence and forward guidance. "These factors could still impact the dollar, interest rates, market sentiment, and precious metals." OCBC remains bullish on gold, as market concerns about US fiscal credibility support demand, but gold prices failed to hold recent highs, and the rebound in yields and the dollar following stronger inflation data suggests that chasing the rally in the short term is not advisable.On August 28th, Ko Nakayama, an economist at Okasan Securities, stated that the latest consumer price data from Tokyo shows the increasing impact of rising oil prices due to the Middle East conflict. The data indicates widespread price increases in everyday household items such as facial tissues, toilet paper, cling film, plastic bags, and kitchen paper towels, suggesting that cost pressures from Middle East tensions may be more broadly transmitted to commodity prices. This aligns with the Bank of Japans view that the impact of rising oil prices will become apparent around the summer. Overall consumer prices in Tokyos wards rose 1.9% year-on-year in August, higher than Julys 1.8%.August 28th - From 8:00 AM on August 27th to 8:00 AM on August 28th, according to monitoring by the Guangxi Hydrological Center, moderate to heavy rain fell in parts of Beihai, Guilin, Liuzhou, and Hechi, with localized areas experiencing torrential to extremely heavy rain. The highest daily rainfall was recorded in Yintan Town, Yinhai District, Beihai City, at 150.0 mm. At 8:00 AM on the 28th, 20 stations on 14 rivers in Guangxi, including the Yujiang, Zuojiang, and Mingjiang rivers, exceeded warning levels by 0.01 to 5.82 meters. The Guangxi Hydrological Center predicts that in the next 24 hours, the Guigang urban section of the Yujiang River will experience flooding exceeding the warning level by approximately 3.0 meters; the Qingshui River (a tributary of the Hongshui River), the Wuming River (a tributary of the Youjiang River), the Xiangjiang River, the Guijiang River, and the Qinglongjiang and Linglijiang Rivers (tributaries of the Yujiang River) may experience rises of 1 to 3 meters. Significant rises in water levels are possible in some small and medium-sized rivers in cities such as Hechi, Baise, Chongzuo, Nanning, Laibin, Guigang, Yulin, Beihai, Qinzhou, Fangchenggang, Guilin, and Liuzhou.On August 28th, at a press conference held by the State Council Information Office, Vice Minister of Commerce Yan Dong stated that during the 15th Five-Year Plan period, the Ministry of Commerce will further implement the action plan to upgrade and expand the service industry, accelerate the innovative development of service trade, promote the opening up and cooperation of the service industry, and cultivate more "Chinese service" brands. We will focus our efforts on the following three aspects, which can be summarized as "three new aspects." The first "new aspect" is accelerating the cultivation of new drivers of trade. The second "new aspect" is steadily expanding new market space. The third "new aspect" is actively promoting new improvements in the business environment.
