EUR/USD
1.15309
0.026%
Gold
4050.88
-1.284%
Oil
83.139
0.594%
USD/JPY
159.176
-0.208%
GBP/USD
1.34761
0.081%
GBP/JPY
214.510
-0.118%
Real-time News
August 2nd - Xiaomi phones have officially increased in price. On August 2nd, the Xiaomi Mall showed that the price of the Xiaomi 17 series has increased by 300-500 yuan per unit. REDMI product lines followed suit, with the performance-focused Turbo 5 and various versions of the K90 series generally increasing in price by 300 yuan.On August 2nd, the Peoples Bank of China (PBOC) held its 2026 second-half work conference. The conference noted that high-level financial opening-up is progressing steadily. Policies regarding corporate overseas lending, bank overseas loans, and cross-border RMB interbank financing will be optimized. A new repurchase facility by overseas central banks will be established. The issuance of Panda bonds in China by high-quality international entities will be facilitated, with issuance exceeding RMB 160 billion in the first half of the year. Positive progress has been made in the construction of the RMB cross-border payment system. Support will be provided for the development of Shanghai and Hong Kong as international financial centers. Support will also be given to the construction of the Xiongan New Area and the Western Land-Sea New Corridor. Foreign exchange facilitation reforms will be deepened, and the scope of pilot programs for high-level opening-up of cross-border trade will be expanded. Services for corporate exchange rate risk management will be improved.On August 2nd, the Peoples Bank of China held its 2026 second-half work conference. The conference noted that financial risks in key areas have continued to be mitigated. Significant progress has been made in resolving the debt risks of financial support platforms. The financial market is operating well. The conference emphasized monitoring and assessing the bond market from a macro-prudential perspective, and strengthening bond market supervision and enforcement. It also stressed leveraging the two monetary policy tools supporting the capital market to stabilize and enhance [the markets stability and strength].On August 2nd, the Peoples Bank of China (PBOC) held its 2026 second-half work conference. The conference emphasized continuing to implement a moderately loose monetary policy. It will comprehensively utilize various monetary policy tools, including reverse repos, medium-term lending facilities, and the buying and selling of treasury bonds, to provide short-, medium-, and long-term liquidity, maintain ample liquidity, and guide financial institutions to strongly support the effective financing needs of the real economy. The conference also stressed improving the short-term interest rate control mechanism, increasing the variety of overnight reverse repo operations, and narrowing the temporary overnight repo/reverse repo operation interest rate range. It further emphasized strengthening the implementation and supervision of interest rate policies, urging financial institutions to clearly disclose the comprehensive financing costs of loans, and maintaining a low level of comprehensive social financing costs. The conference also stressed the importance of effective market communication and expectation guidance. At the end of June, total social financing increased by 7.4% year-on-year, and broad money supply increased by 8.0% year-on-year. The conference reiterated the principle that the market plays a decisive role in exchange rate formation, and that the RMB exchange rate will fluctuate in both directions.Japanese Minister of Economy, Trade and Industry Ryomasa Akazawa: Even if we conservatively estimate that we can only maintain the procurement level of 75% of the same period in previous years, the use of national reserves will be sufficient to ensure oil supply until the end of March 2028.
