EUR/USD
1.14321
0.490%
Gold
4115.14
2.087%
Oil
68.455
0.631%
USD/JPY
161.076
-0.926%
GBP/USD
1.33471
0.548%
GBP/JPY
214.993
-0.371%
Real-time News
Fitch Ratings: Tax reforms in the Dominican Republic have mitigated the fiscal impact of the oil shock.July 3 – On July 2, local time, Minister of Commerce Wang Wentao chaired a roundtable meeting of Chinese-funded enterprises in the UK in London. Representatives from more than ten Chinese-funded enterprises in the UK, representing sectors such as finance, insurance, new energy, automobiles, retail, and telecommunications, along with the China Chamber of Commerce in the UK, attended the meeting. They introduced their business operations in the UK and raised specific requests regarding safeguarding their overseas interests and expanding practical cooperation. Wang Wentao stated that in recent years, Sino-British economic and trade relations have deepened, becoming a ballast and driving force for Sino-British relations. Facing the ever-changing international situation, Chinese-funded enterprises in the UK have withstood pressure, cultivated the UK market, and achieved good economic results, making positive contributions to Sino-British economic and trade cooperation. Looking to the future, enterprises from both countries can continue to deepen cooperation in areas such as services, innovation, and trilateral cooperation. He hoped that Chinese-funded enterprises in the UK would strengthen self-discipline, compete in an orderly manner, maintain the overall image of Chinese enterprises, and improve their international business level, risk prevention awareness, and capabilities.On July 3rd, Citigroup stated that it expects aluminum prices to bottom out within the next month, subsequently gradually recovering to the $3,300-$3,500 per tonne range between September and December. The bank believes this assessment is based on multiple factors, including a dovish stance from the Federal Reserve, declining real interest rates, improved demand prospects, and continued low inventory levels based on consumption days. Meanwhile, the recent decline in aluminum prices mainly reflects weaker-than-expected demand, a slowdown in visible inventory reduction, easing geopolitical risks, concentrated unwinding of speculative and physical positions, and rising market expectations of increased future supply. Over the past month, aluminum prices have fallen by about 20% from approximately $4,450 per tonne, shaking a more than year-long upward trend. However, Citigroup believes that shorting aluminum prices is not advisable at present, as the market was already in a supply deficit before the recent shock, and new supply is unlikely to quickly compensate for increased demand. The bank also pointed out that market concerns about a rapid return of Middle Eastern supply may be exaggerated.As of the 2:30 closing bell, the main Shanghai gold futures contract rose 1.18%, the main Shanghai silver futures contract rose 1.53%, and the main SC crude oil futures contract rose 0.05%.As of the 2:30 closing bell, the main Shanghai gold futures contract rose 1.18% to 901 yuan/gram, the main Shanghai silver futures contract rose 1.53% to 14,850 yuan/kilogram, and the main SC crude oil futures contract rose 0.05% to 442 yuan/barrel.
