EUR/USD
1.16321
-0.232%
Gold
4505.93
0.626%
Oil
59.061
1.392%
USD/JPY
158.029
0.746%
GBP/USD
1.34120
-0.210%
GBP/JPY
211.953
0.548%
Real-time News
White House economic advisor Hassett: The Federal Reserve needs to cut interest rates further.Ukrainian President Volodymyr Zelenskyy met with British Defense Secretary Healy in Kyiv.January 9th - Nick Timiraos, the "Federal Reserve mouthpiece," wrote in a new article: "Tonights December jobs report provides ample reason for Fed officials to remain on the sidelines at this months meeting. Nonfarm payrolls increased by only 50,000, and the three-month average of private sector hiring fell to 29,000, the second-lowest growth rate of the year. This sluggish pace of job growth underscores the dynamic nature of the labor market in 2025: slow hiring, slow firing. However, the decline in the unemployment rate has temporarily eased extreme concerns about a deteriorating labor market. It is precisely these concerns that have prompted the Fed to cut interest rates in the last three meetings. This report reinforces market expectations that the Fed will hold rates steady at its January 27-28 meeting, but the weak hiring data also ensures that the debate about the health of the labor market is far from over."January 9th - Data shows that the US consumer confidence index rose slightly for the second consecutive month. In January, confidence among low-income consumers improved, while confidence among high-income consumers declined. Overall, although consumers perceive a slight improvement in the economy over the past two months, their confidence level remains nearly 25% lower than in January of last year. They continue to focus primarily on livelihood-related "table issues," such as high prices and a softening labor market. While consumer concerns about tariffs appear to be gradually fading, they remain wary of the overall business conditions and the strength of the labor market. It is worth noting that over 90% of the interviews in this data release were conducted before Maduros arrest in Venezuela. In January, one-year inflation expectations remained stable at 4.2%. This is the lowest reading since January 2025, but still well above the 3.3% level for that month. Long-term inflation expectations rose slightly to 3.4% this month from 3.2% in December.January 9th - Large-denomination certificates of deposit (CDs), which once attracted depositors with high interest rates, have now fully entered the "1%" era, with some small and medium-sized banks even offering "0%" products. According to China Money Network, several banks have disclosed their 2026 issuance announcements for personal large-denomination CDs. A review reveals that not only are CDs with interest rates above 2% hard to find, but some small and medium-sized banks products even have interest rates below 1%. Furthermore, the maturity structure of large-denomination CDs shows a clear trend towards shorter maturities, with some banks issuing only short-term products with maturities of one year or less. As the interest rates on newly issued large-denomination CDs continue to decline, more and more depositors are turning their attention to the "second-hand" transfer market. Information seeking to buy or transfer unmatured CDs is increasing on various social media platforms. Industry insiders say that declining interest rates have become a trend. With a large number of high-interest deposits maturing in 2026, consumers still have a strong demand for low-volatility, stable products with yields between 2.5% and 3.5%. Therefore, depositors can appropriately shift to bank wealth management products, dividend-paying insurance, and other products to compensate for the insufficient returns of ordinary deposits.
