EUR/USD
1.17280
0.076%
Gold
4608.22
-0.054%
Oil
98.488
-0.775%
USD/JPY
156.754
-0.193%
GBP/USD
1.35857
0.095%
GBP/JPY
212.965
-0.098%
Real-time News
May 4th - During the May Day holiday, short-distance cross-border travel between Guangdong, Hong Kong, and Macao saw another surge. According to statistics from the Gongbei Border Inspection Station, from May 1st to 3rd, the station processed over 1.23 million inbound and outbound passengers traveling between Zhuhai and Macao through the Gongbei Port. As a core hub for interconnectivity within the Guangdong-Hong Kong-Macao Greater Bay Area and a key gateway connecting the mainland and Macao, the Gongbei Port has seen a continuous increase in passenger traffic this year, vividly demonstrating the vibrant integration and development of the Greater Bay Area.The UK Maritime Trade Operations Office: The maritime security threat level in the Strait of Hormuz remains critical due to ongoing regional military operations. Seafarers in the area should be aware of increased naval presence, enhanced force protection posture, potential VHF calls, and congestion near anchorages.Indonesias Statistics Agency: The Consumer Price Index rose 2.42% year-on-year in April.On May 4th, the Organization of the Arab Petroleum Exporting Countries (OPEC) issued a statement on May 3rd confirming that the United Arab Emirates (UAE) had officially withdrawn from the organization. The statement said that the OPEC Secretariat had received a letter from UAE Energy Minister Suhail al-Mazrouei to the current Chairman of the Council of Ministers, announcing the UAEs decision to withdraw from the organization, effective May 1, 2026. Previously, on April 28th, the UAE announced its withdrawal from the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+, effective May 1st. OPEC was established in 1968, headquartered in Kuwait, and aims to promote cooperation among its member countries and strive to maintain reasonable oil prices. The organization includes Saudi Arabia, Qatar, Kuwait, Algeria, Bahrain, Egypt, and Iraq as its member states.On May 4th, European Central Bank Governing Council member Winsch stated that Europe is "naively" believing that the free-market economic model can survive the global transformation driven by the United States. He pointed out that EU policymakers are still pursuing goals such as open markets and limited state aid, but these goals no longer reflect the geopolitical realities shaped by Trumps "America First" policies. "Open trade and strict state aid rules are feasible in a rules-based world," Winsch said. "But that world has disappeared, and if you cling too tightly to a world that has disappeared, you are being naive." At the heart of his argument is that Europe has failed to internalize the fact that the global economy has moved away from a level playing field. He said that US protectionist policies have reshaped this landscape. "The world has changed, and we cannot keep doing the same things and giving the same answers, and these issues have failed to some extent in the past."
