EUR/USD
1.15515
0.079%
Gold
4205.29
-1.272%
Oil
86.756
-0.681%
USD/JPY
160.364
0.001%
GBP/USD
1.33909
0.092%
GBP/JPY
214.747
0.094%
Real-time News
On June 10, it was reported that from June 8 to 10, Xian Hui, Vice Chairman of the National Committee of the Chinese Peoples Political Consultative Conference (CPPCC), led a delegation to Vietnam. She met separately with Tran Cam Tu, member of the Politburo and Permanent Secretary of the Secretariat of the Communist Party of Vietnam (CPV), Bui Thi Minh Hoai, member of the Politburo and Chairwoman of the Central Committee of the Vietnam Fatherland Front, and held talks with Hoang Cong Thuy, Vice Chairwoman of the Vietnam Fatherland Front. Xian Hui stated that recently, Xi Jinping, General Secretary of the CPC Central Committee and President of China, and To Lam, General Secretary of the CPV Central Committee and President of Vietnam, who was visiting China, had in-depth exchanges on overall and strategic issues of common concern, drawing a blueprint for building a higher-level, strategically significant China-Vietnam community with a shared future. China is willing to work with Vietnam, following the strategic guidance of the top leaders of the two parties and countries, to deepen mutually beneficial cooperation and promote the building of a China-Vietnam community with a shared future in a more profound and practical way. The CPPCC is willing to contribute to this endeavor.On June 10th, TSMC Chief Financial Officer (CFO) Huang Jen-chao stated in a recent interview that inflation is pushing up the companys operating costs, and indicated that a price increase for chips cannot be ruled out. However, Huang also stated that TSMC will not suddenly raise prices "four or five times."1. US May CPI Data Preview: The US will release its May CPI data at 8:30 PM Beijing time on Wednesday. The market widely expects inflation to rise further, with the overall CPI increasing by 0.5% month-on-month and the year-on-year growth rate rising to 4.2% (the first time it has surpassed 4% since May 2023); the core CPI is expected to rise slightly year-on-year to 2.9%. Significant increases in energy costs and service prices are the main drivers, but with the gradual completion of revisions to previous housing data, the May data may fall short of expectations. 2. Interest Rates and Futures Market Pricing: Gennadiy Goldberg, Head of US Interest Rate Strategy at TD Securities, points out that the combination of strong employment data and high inflation has increased the markets perception that the Federal Reserve is forced to tighten policy. Current futures market pricing indicates that investors expect a full 25 basis point rate hike by the end of the year. 3. Gold Market Faces a Key Test: Analysts point out that international gold prices have corrected by more than 22% since reaching their historical highs, and tonights CPI data will determine the short-term direction of gold prices. If the data meets or exceeds expectations, it will strengthen expectations of accelerating inflation and the Federal Reserve maintaining high interest rates or even raising rates, putting pressure on gold. If it falls short of expectations, it may boost expectations of interest rate cuts, creating conditions for a gold rebound. 4. Everbright Futures view: Geopolitical events are recurring. On the 9th, the US launched a "self-defense" strike against Iran, but the US stated that it would not interfere with the US-Iran negotiations. Considering the support of energy prices and the low base in the same period last year, the market expects that the US May CPI is likely to exceed 4% year-on-year tonight. Coupled with the resilience shown by the non-farm payroll data last Friday, if the CPI rises higher than expected, the expectation of a hawkish monetary policy will be further increased, and gold may be under pressure in the short term. 5. Founder CIFCO Futures view: It is expected that the US May CPI will increase by 4.3% year-on-year and the core CPI will increase by 0.3% month-on-month. If the data exceeds expectations, it will further exacerbate inflation concerns, pushing the US dollar and US Treasury yields to continue to be strong, while precious metals and industrial commodity prices will continue to be under pressure. If the data meets or falls short of market expectations, it is expected to alleviate market concerns about the Feds interest rate hikes, and gold and silver may have a chance for a phased rebound. (The above content is compiled from publicly available market information such as foreign media, TD Securities, and Founder CIFCO Futures, and is for reference only. It does not constitute investment advice.)June 10th - Recently, the domestic auto market has shown a trend of "cold reception for gasoline vehicles and hot reception for new energy vehicles." In response to this trend, Chen Shihua, Deputy Secretary-General of the China Association of Automobile Manufacturers (CAAM), analyzed that high oil prices have increased the cost of using gasoline vehicles, highlighting the economic advantages of new energy vehicles. At the same time, domestic automakers are deeply committed to innovation and R&D, rapidly iterating new energy vehicle models to meet diverse needs with differentiated products, continuously activating market potential. Chen Shihua stated that the outstanding performance of new energy vehicles overseas is a concentrated reflection of the transformation and upgrading of my countrys automotive industry and the improvement of its overall strength. This is inseparable from the combined support of multiple advantages, including policy guidance and industrial synergy. "my country possesses a complete and efficient new energy vehicle industry chain, with significant economies of scale and strong supply chain resilience. Simultaneously, intelligent functions such as vehicle systems, intelligent driving, and cockpit interaction are rapidly iterating, continuously adapting to the needs of overseas users and driving the continuous improvement of product core competitiveness."On June 10th, the China Association of Automobile Manufacturers (CAAM) released data showing that in May 2026, my countrys new energy vehicle market stabilized and rebounded, with production and sales reaching 1.554 million and 1.496 million units respectively, representing year-on-year increases of 22.4% and 14.4%. The proportion of new energy vehicle sales in total new vehicle sales further increased, reaching 56.9%. In May, my countrys automobile production and sales reached 2.616 million and 2.629 million units respectively, showing month-on-month growth but a slight year-on-year decrease, although the decline narrowed further. Overall, in the first five months, automobile production and sales reached 12.235 million and 12.207 million units respectively, of which new energy vehicle production and sales reached 5.841 million and 5.802 million units respectively, representing year-on-year increases of 2.5% and 3.5%.
