EUR/USD
1.14364
-0.054%
Gold
3997.11
0.521%
Oil
78.934
0.063%
USD/JPY
162.382
0.012%
GBP/USD
1.34635
-0.111%
GBP/JPY
218.629
-0.071%
Real-time News
Futures Commentary by Everbright Futures: Overnight, spot gold weakened, falling 2.08% and breaking below the $4,000/ounce mark. SHFE gold also declined, falling 1.34%. Previously, the market had bet on a rapid shift to easing by the Federal Reserve due to the sharp drop in June CPI and PPI, leading to a short-term rebound in gold prices. However, after a series of hawkish speeches and the emergence of energy inflation risks, the market quickly corrected its pricing, resulting in short-term weak fluctuations in gold prices. 1. US retail sales rose 0.2% month-on-month in June, in line with market expectations. The May data was revised upward to a 1% month-on-month increase, indicating that the resilience of consumption has eased concerns about an economic downturn. For the week ending July 11, initial jobless claims in the US fell to 208,000, lower than the expected 217,000. Additionally, the Philadelphia Fed Manufacturing Index for July was 41.4, far exceeding the expected 12.5 and the previous value of 10.3. The new orders index rose to 37, compared to 27.3 in the previous month. In terms of geopolitics, media reports indicate that the White House stated Iran continued talks with the United States, but the US military launched a new round of airstrikes, striking Iran for the fifth consecutive night. 2. The resilience of the US economy and employment, coupled with the stickiness of inflation amid geopolitical disturbances, has led the Federal Reserve to maintain a hawkish stance, making it difficult to effectively reduce expectations of interest rate hikes. The dollar index has risen, and gold has struggled to maintain its rebound, weakening again. Previously, significant market divergence was observed regarding gold prices. Under the influence of geopolitical disturbances, recurring inflation, and Warshs hawkish stance, golds performance has been primarily weak and corrective. Whether gold can solidify its current bottoming range as a potential low for the year remains to be seen.On July 17, due to previous rainfall and upstream water flow, the water level at the Mudanjiang Hydrological Station on the middle reaches of the Mudanjiang River, a tributary of the Songhua River, rose to the warning level (235.00 meters) at 9:00 AM. According to the regulations for numbering floods in major rivers, this flood is designated as "Mudanjiang Flood No. 1 of 2026". The Ministry of Water Resources is closely monitoring the flood situation in the Songhua River, Mudanjiang River, and other rivers, strengthening rainfall and water level monitoring, increasing the frequency of rolling forecasts and warnings, activating the flood defense emergency response in advance, and dispatching working groups to the front lines to provide assistance and guidance. It is also urging local authorities to strengthen the scheduling of water conservancy projects in the basin, implement all flood defense measures meticulously, and relocate people in danger zones in advance to ensure the safety of peoples lives.Futures News, July 17th - According to foreign media reports, CBOT wheat prices fell on Friday, but are still on track for a third consecutive week of gains, supported by concerns about export disruptions in the Black Sea region due to tight supplies in Europe and North America. Analysts stated that deteriorating US crop conditions and the closure of the Kerch Strait following the attack on Ukraine are supporting wheat prices; however, the rapid harvest progress limits the scope for further significant downward revisions to production forecasts. A BMI report noted that a single blockade itself has limited impact, but if Ukraine can continue to cause intermittent disruptions, the cumulative effect could create significant price support in a tight supply market. CBOT soybeans and corn are also expected to record weekly gains this week, mainly driven by strong wheat prices.On July 17, Li Bin, Deputy Director of the State Administration of Foreign Exchange (SAFE), stated at a press conference held by the State Council Information Office that SAFE has strengthened foreign exchange market supervision and cracked down on illegal foreign exchange activities such as underground banks. In the first half of this year, over 300 related cases were investigated and dealt with, with fines and confiscations exceeding 400 million yuan, effectively maintaining the order of the foreign exchange market.On July 17, the Information Office of the Hubei Provincial Peoples Government held a press conference to introduce the economic performance of Hubei Province in the first half of 2026. According to the unified accounting results of regional GDP, Hubei Provinces GDP in the first half of the year was 3,133.672 billion yuan, representing a year-on-year increase of 5.0% at constant prices.
