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20250705 GMT+8 12:45 pm


English

United States

  • Market News: US markets were relatively quiet due to a bank holiday, limiting trading activity. However, fiscal concerns stemming from a US tax-cut bill have supported gold prices, which are heading for a weekly gain. The US dollar weakened slightly, with the Dollar Index slipping by 0.3% amid rising trade fears.
  • Forex Impact: The US dollar struggled to gain traction, with the EUR/USD trading between 1.1731-1.1811 and GBP/USD between 1.3611-1.3693. The USD/JPY pair ranged between 144.06-145.13, reflecting pressure from trade uncertainties and narrowing US-Japan bond yield spreads.
  • Commodities Impact: Gold prices rose, trading between $3320-$3354, driven by fiscal worries and a revival in risk sentiment undermining safe-haven demand. Oil prices also strengthened, trading between $6555-$6755, supported by geopolitical tensions.
  • Thematic ETFs Impact: No specific updates on thematic ETFs in the US for the last 24 hours, but broader market sentiment suggests continued interest in defense and AI-themed ETFs due to ongoing global uncertainties.

Europe

  • Market News: European stock markets turned negative as investors grappled with the risk of reimposed US tariffs, which could disrupt trade. The European Central Bank (ECB) forum highlighted uncertainties in trade, growth, and inflation, with key policymakers like ECB’s Lagarde and BOE’s Bailey speaking.
  • Forex Impact: The euro remained stable within a tight range (EUR/USD: 1.1731-1.1811), supported by cautious market sentiment. The GBP/USD pair also held steady, reflecting uncertainty ahead of central bank discussions.
  • Commodities Impact: Commodities like wheat saw price increases (+4.6%) due to adverse weather in Europe, contributing to mixed agricultural commodity performance.
  • Thematic ETFs Impact: Thematic ETFs, particularly those focused on cybersecurity and infrastructure, remain appealing as investors seek tangible themes amid trade concerns.

Japan

  • Market News: Japan’s Nikkei 225 rose slightly (+38 points), recovering from a recent 1.24% drop. Household spending surged by 4.2% year-on-year in May, exceeding forecasts of 1.2%, boosting market confidence. However, potential US tariffs of 30-35% on Japanese imports (up from 24%) pose a risk.
  • Forex Impact: The USD/JPY pair faced downward pressure (143.18-145.13), driven by rising Japanese bond yields and expectations of a Bank of Japan (BOJ) rate hike.
  • Commodities Impact: No direct commodity updates for Japan, but global oil price gains (+$6555-$6755) and gold’s strength indirectly support Japan’s commodity-linked investments.
  • Thematic ETFs Impact: Japan’s ETF market saw interest in technology and renewable energy themes, supported by government backing for solar and brain tech stocks.

China

  • Market News: China’s Shanghai index gained 118 points, driven by government support for solar and brain tech stocks, which outperformed the broader market. However, industrial profits fell significantly in May, reflecting trade-related challenges.
  • Forex Impact: The Chinese yuan remained under pressure due to trade uncertainties, with no specific forex pair data provided in the last 24 hours. However, the broader USD/CNY outlook is cautious due to ongoing US-China trade tensions.
  • Commodities Impact: Energy markets, particularly oil, saw gains (+6% in June), driven by Middle East tensions, indirectly benefiting China’s commodity-linked investments.
  • Thematic ETFs Impact: Thematic ETFs focusing on AI and renewable energy, such as the Themes Generative Artificial Intelligence ETF (WISE), continue to attract investor interest, with China’s tech sector benefiting from state support.

美國

  • 市場新聞：由於銀行假期，美國市場交易活動較為平靜。然而，美國稅收減免法案引發的財政擔憂支撐了黃金價格，黃金有望錄得週線上漲。美元小幅走弱，美元指數因貿易擔憂下跌0.3%。
  • 外匯影響：美元表現疲軟，EUR/USD 交易區間為1.1731-1.1811，GBP/USD 為1.3611-1.3693。USD/JPY 交易區間為144.06-145.13，受貿易不確定性和美日債券收益率差收窄影響。
  • 商品影響：黃金價格上漲，交易區間為3320-3354美元，受財政擔憂和避險需求減弱推動。油價也走強，交易區間為6555-6755美元，受地緣政治緊張局勢支撐。
  • 主題ETF影響：過去24小時內無美國主題ETF的具體更新，但市場情緒顯示對國防和人工智能主題ETF的持續興趣，與全球不確定性相關。

歐洲

  • 市場新聞：歐洲股市因投資者擔憂美國重新徵收關稅而轉跌，關稅可能擾亂貿易。歐洲央行論壇強調了貿易、增長和通脹的不確定性，歐洲央行行長拉加德和英格蘭銀行行長貝利等關鍵政策制定者發表講話。
  • 外匯影響：歐元在狹窄區間內穩定（EUR/USD：1.1731-1.1811），受謹慎市場情緒支撐。GBP/USD 也保持穩定，反映央行討論前的不確定性。
  • 商品影響：小麥等商品因歐洲不利天氣價格上漲（+4.6%），農業商品表現不一。
  • 主題ETF影響：網絡安全和基礎設施相關的主題ETF仍具吸引力，投資者尋求貿易擔憂下的實際主題。

日本

  • 市場新聞：日經225指數小幅上漲（+38點），從此前1.24%的跌幅中恢復。5月家庭支出年增4.2%，超出預期的1.2%，提振市場信心。然而，美國對日本進口商品可能徵收30-35%的關稅（高於此前宣布的24%）構成風險。
  • 外匯影響：USD/JPY 承壓（143.18-145.13），受日本債券收益率上升和日本央行可能再次加息的預期推動。
  • 商品影響：日本無直接商品更新，但全球油價上漲（6555-6755美元）和黃金走強間接支持日本與商品相關的投資。
  • 主題ETF影響：日本ETF市場對科技和可再生能源主題表現出興趣，受到政府對太陽能和腦科技股票的支持。

中國

  • 市場新聞：上海指數上漲118點，受政府對太陽能和腦科技股票的支持推動，這些股票表現優於大盤。然而，5月工業利潤大幅下降，反映貿易相關挑戰。
  • 外匯影響：人民幣因貿易不確定性承壓，過去24小時無具體外匯對數據。但美元/人民幣整體展望謹慎，因美中貿易緊張局勢持續。
  • 商品影響：能源市場，尤其是石油，6月上漲6%，受中東緊張局勢推動，間接利好中國與商品相關的投資。
  • 主題ETF影響：人工智能和可再生能源主題ETF，如Themes Generative Artificial Intelligence ETF (WISE)，持續吸引投資者興趣，中國科技行業受益於國家支持。

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