EUR/USD
1.14136
-0.001%
Gold
4038.96
0.786%
Oil
82.226
-0.041%
USD/JPY
162.493
0.006%
GBP/USD
1.34346
0.034%
GBP/JPY
218.308
0.042%
Real-time News
On July 21, the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan," introducing the relevant situation regarding accelerating the construction of a strong transportation nation and improving the modern comprehensive transportation system. Xu Chengguang, Vice Minister of Transport, stated at the conference that the overall goal for the 15th Five-Year Plan period is to basically complete the construction of a modern comprehensive transportation system. Regarding optimizing the transportation structure, the focus is on promoting the upgrading and digital transformation of transportation infrastructure. By 2030, approximately 80,000 kilometers of infrastructure will be upgraded, a new round of rural road improvement will be implemented, and 500,000 kilometers of rural roads will be newly built or renovated. In terms of strengthening system integration, the focus is on improving the comprehensive transportation system of modern metropolitan areas, implementing a project to improve intercity commuting efficiency in metropolitan areas, accelerating the construction of 20 international and 80 national comprehensive transportation hub cities, implementing a multimodal transport initiative, and removing bottlenecks and obstacles. The goal is to promote the improvement of multimodal transport functions at 1,000 major freight nodes within approximately five years.July 21 - According to a press conference held by Shanghai Customs, Shanghais foreign trade imports and exports reached 2.55 trillion yuan in the first half of this year, a year-on-year increase of 18.6%, of which exports reached 1.14 trillion yuan, an increase of 20.1%; and imports reached 1.41 trillion yuan, an increase of 17.4%.July 21 - According to Iranian sources on the 21st local time, in response to the US attack on Iran, Iranian ground forces used surface-to-surface missiles to strike the US HIMARS high-mobility rocket system at the Arifjan base in Kuwait.On July 21, Xu Chengguang, Vice Minister of Transport, said at a press conference held by the State Council Information Office that during the 14th Five-Year Plan period, my countrys national comprehensive three-dimensional transportation network will exceed 6 million kilometers, the main framework of "6 axes, 7 corridors and 8 channels" will have a completion rate of 91%, the high-speed rail operating mileage will exceed 50,000 kilometers, the expressway mileage will reach 199,000 kilometers, the number of berths of 10,000 tons and above in ports will reach 3,061, the total number of transport airports will reach 270, and the worlds largest and most beneficial postal and express delivery network will be built.July 21 – Capital Economics strategist Thomas Mathews stated in a report that gold remains valuable as a hedge against a stock market crash. Recently, golds performance has arguably been more of a "risk" asset than a "safe" one, given its recent price volatility, which has mirrored that of the benchmark S&P 500. Golds poor performance amidst Middle East conflicts appears to have weakened its supposed inflation-hedging role. However, the link between gold and real bond yields appears to remain intact, and any decline in real yields is expected to boost gold. If the US economy is hit and prompts the Federal Reserve to significantly cut policy rates, the recent positive correlation between gold and the stock market will not be sustained.
