EUR/USD
1.14023
-0.080%
Gold
4041.99
-1.554%
Oil
74.312
3.195%
USD/JPY
162.455
0.226%
GBP/USD
1.33419
-0.124%
GBP/JPY
216.751
0.118%
Real-time News
On July 8, Xi Jinping attended the National Science and Technology Awards Conference, the General Assembly of the Chinese Academy of Sciences and the Chinese Academy of Engineering, and the 11th National Congress of the China Association for Science and Technology, and delivered an important speech. Xi Jinping emphasized the need to promote the deep integration of scientific and technological innovation and industrial innovation, and to open up channels for the accelerated transformation of science and technology into real productive forces. Scientific and technological innovation should be application-oriented, while industrial innovation should focus on raising scientific questions. He stressed strengthening the national technology transfer system, creating diversified application scenarios and high-level industrial clusters, and promoting the application and iterative upgrading of independently developed technologies and products. He also called for improving the intellectual property protection system and building a science and technology finance system adapted to scientific and technological innovation.July 8th - In the first half of 2026, Shenzhens total electricity consumption reached 61.302 billion kilowatt-hours, a year-on-year increase of 7.69%. By sector, electricity consumption in Shenzhens secondary industry was 28.499 billion kilowatt-hours, a year-on-year increase of 5.60%; electricity consumption in the tertiary industry was 23.037 billion kilowatt-hours, a year-on-year increase of 9.94%; and residential electricity consumption was 9.738 billion kilowatt-hours, a year-on-year increase of 8.70%.Kremlin: We will take countermeasures against the deployment of nuclear weapons in the Baltic states.On July 8th, Derek Halpenny, an analyst at MUFG, stated that the Federal Reserve will release the minutes of the June FOMC meeting tonight, but he advises against over-interpreting the details, as the context before the June meeting is significantly different from now. The dot plot was likely submitted a week before the meeting (the week ending June 12th), and if the meeting were held now, the FOMC dot plot would not show nine members supporting a rate hike. In this regard, the overnight index swap curve appears to be overpriced in a rate hike. Currently, the probability of a rate hike at the July 29th meeting is still priced in at close to 30%, which seems excessive considering the weakening labor market data. The market has priced in nearly 40 basis points of rate hikes by March 2027, but we believe that the probability of a rate cut is greater than a rate hike by then.The Kremlin: (Regarding the drone attack on the Blue Stream gas pipeline facility) We consider this extremely dangerous and are taking steps to minimize the risk of such attacks.
