EUR/USD
1.16169
0.157%
Gold
4660.48
1.716%
Oil
59.359
0.169%
USD/JPY
157.905
-0.106%
GBP/USD
1.33843
0.035%
GBP/JPY
211.351
-0.070%
Real-time News
On January 19th, at a press conference held by the State Council Information Office, Kang Yi, Director of the National Bureau of Statistics, stated that in December 2025, the year-on-year growth rates of the added value of the service sector above designated size and the service sector production index both accelerated compared to the previous month; the core CPI increase also remained above 1% for four consecutive months, the year-on-year decline in PPI narrowed, and the month-on-month increase rebounded for three consecutive months; the manufacturing PMI and the non-manufacturing business activity index both returned to expansion territory. From a policy perspective, the State Council has deployed a package of coordinated fiscal and financial policies. Policies to expand domestic demand and "new infrastructure" are also being continuously optimized, all of which have created favorable conditions for the start of this years economic recovery. Looking at the whole of 2026, the supporting conditions and basic trends for my countrys long-term economic growth remain unchanged, the general trend of high-quality development remains unchanged, and there is a foundation and conditions to maintain stable and positive economic operation.On January 19th, 2026, the China Association of Automobile Manufacturers (CAAM) held its 2025 Standards and Regulations Annual Meeting in Beijing. In his concluding remarks, Ye Shengji, Chief Engineer of CAAM, emphasized that CAAMs group standards should focus on industrial transformation and upgrading, and the construction of an innovation system in emerging key areas such as new energy and intelligent connected vehicles, particularly focusing on improving the quality and reliability of new energy vehicles. To this end, CAAM will coordinate and deploy the development of group standards for key areas of quality and reliability, aiming to develop a batch of highly original, innovative, and advanced high-level group standards for complete vehicles, component systems, and key components within 1-2 years.Futures Commentary by Everbright Futures: On Monday morning (January 19), precious metals strengthened, with spot gold breaking through $4,680/ounce, continuing to reach new highs. Last week, gold fluctuated upwards, with London spot gold rising 1.92% weekly. Over the weekend, the US announced a 10% tariff on European countries that sided with Denmark on the Greenland issue. Affected by geopolitical changes, gold prices fluctuated with a slight upward bias in the short term. 1. The US may pause interest rate cuts in January, and the most anticipated Fed Chair candidate has changed. Regarding economic data, the US December CPI rose 2.7% year-on-year, in line with expectations and the previous value; core CPI rose 2.6% year-on-year, in line with the previous value, slightly lower than the expected 2.7%. The slower-than-expected core inflation level in the US has created momentum for subsequent Fed rate cuts, but the probability of maintaining the current rate remains high based on the probability of a January rate cut. Significant disagreements continue within the Fed regarding the subsequent rate cut path. The Kansas City Fed President stated that there is currently no reason to cut rates, as doing so could harm progress in curbing inflation and would also be detrimental to the labor market. 1. In terms of news, Federal Reserve Chairman Jerome Powell is under criminal investigation by the U.S. Department of Justice. Central banks around the world issued a joint statement in support of Powell, responding to the Trump administrations use of legal means to pressure central banks and threaten their independence. The U.S. President stated his desire for Hassett to continue serving as a White House advisor, and Rick Riddells candidacy for Federal Reserve Chairman is gaining momentum. 2. In terms of geopolitics, despite NATO countries deploying military personnel to Greenland, the U.S. government stated that this does not hinder U.S. objectives regarding Greenland and announced tariffs on eight European countries starting February 1st, up to the "complete acquisition of Greenland." Tensions in Iran are escalating, with the White House stating that the Trump administration is closely monitoring the situation and retains all options. Trump has spoken with Israeli Prime Minister Netanyahu. 3. Against the backdrop of the Federal Reserve potentially pausing interest rate cuts in January, geopolitics has become a short-term focus. The U.S.-Venezuela conflict, the situation in Greenland, and the situation in Iran have once again caused global investors to feel uneasy about frequent geopolitical conflicts. Especially before the situation in Iran becomes clearer, the short-term enthusiasm for gold is unlikely to subside.According to NHK, Tokyo Electric Power Company will postpone the restart of the Kashiwazaki-Kariwa nuclear power plant.According to the National Bureau of Statistics, steel production in December 2025 was 115.31 million tons, a year-on-year decrease of 3.8% and a month-on-month decrease of 0.5%; production from January to December was 1,446.12 million tons, a year-on-year increase of 3.1%.
