News and Information

  On Thursday (July 13) local time, the Federal Reserve Bank of St. Louis announced on its official website that James Bullard has resigned as president and CEO of the regional Fed. According to the official press release, Bullard is scheduled to leave the Federal Reserve Bank of St. Louis on August 14, 2023, and will be appointed the next day as a member of the Mitchell E. Daniels, Jr. School of Business at Purdue University.

  For former IMF economist Stephen Jen, the famous inventor of the dollar smile theory, the US Federal Reserve looks ready to win the inflation war without plunging the US economy into a deep recession. This is bad news for the dollar, the world's dominant reserve currency, and risks sending ripples through foreign exchange markets... According to his dollar smile theory, when the US economy falls into a deep recession or a strong expansion...

  The judge found that Ripple is only a security in institutional sales, in a closely watched ruling that could affect the future of cryptocurrency regulation and weaken the SEC's "fist". On Thursday, a U.S. federal judge ruled that Ripple's token (Ripple) is not necessarily a security, a long-awaited decision that was widely seen as a victory for the cryptocurrency industry over the Securities Exchange Commission (SEC). The ruling may help to increase...

  The resilience of the job market and economy gives the Fed room to raise interest rates further, and if there are two more good CPI data, it could mean "stopping" rate hikes, Waller said. Fed Governor Waller gave his latest speech on the economic outlook. He said that in support of raising interest rates at the July FOMC meeting, the Fed needs to raise interest rates twice more this year (25 basis points each) to bring inflation down to the target level. The resilience of the job market and economy provides the Federal Reserve with room to raise interest rates further...

  On Thursday, a U.S. federal judge ruled that Ripple Inc.'s token (Ripple) is not necessarily a security, a long-awaited decision that was widely seen as a victory for the cryptocurrency industry over the Securities Exchange Commission (SEC), a ruling that could help keep cryptocurrencies out of regulation for the type of security. U.S. District Judge for the Southern District of New York, Analisa Torres, said cryptocurrency companies sold cryptocurrency tokens to sophisticated investors (institutional investors).

  On July 14, the key data that investors need to pay attention to: the euro area's May quarterly adjusted trade account, the monthly rate of the US import price index in June, the annual rate of the US import price index in June, and the preliminary value of the US University of Michigan consumer confidence index in July. Major events that need to be paid attention to include the meeting of G20 finance ministers and vice presidents held until July 16; the European Union Economic and Financial Affairs Council meeting held. On July 14, the key data that investors need to pay attention to: the euro area in May...

  The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on July 14, 2023, the central parity of the RMB exchange rate in the interbank foreign exchange market was 1 US dollar to 7.1318 yuan, 1 euro to 8.0169 yuan, 100 yen to 5.1800 yuan, 1 Hong Kong dollar to 0.91191 yuan, 1 pound to 9.3770 yuan, 1 Australian dollar to 4.9185 yuan, 1 New Zealand dollar to RMB...

  Inflation in the United States fell to its lowest annual rate in more than two years in June, as a result both of a slowdown in costs and of easy comparisons with the period of the highest price increases in more than 40 years. The CPI, which measures inflation, rose 3% year-on-year, its lowest level since March 2021; the index, which measures the price of goods and services, rose 0.2% month-on-month. This compares with Dow Jones' projected increases of 3.1% and 0.3%, respectively. Graph: U.S. CPI (through June this year...

  Since the start of the year, the dollar has not performed as the market predicted for a prolonged slump. The resilience of the dollar has puzzled bears, who had warned that it would weaken for years to come after a surge in 2022. Now, a growing number of investors believe that these bears may finally be vindicated, as easing inflation provides support for the Federal Reserve to end its rate hike cycle in the coming months. Some top fund managers say that as U.S. interest rates are picking up...

  On Wednesday night, the high-profile US June CPI was lower than expected and the previous value, with year-on-year growth falling for a year, the smallest increase since March 2021, and the pressure on the Federal Reserve to raise interest rates continued to ease. Paper gold fell and rebounded on Wednesday, and broke through the 450 mark directly from 447 in the evening, reaching a maximum near 452 yuan. Yesterday Wednesday night, according to the latest data released by the US Department of Labor, the US Consumer Price Index (cp...

  On July 13, Beijing time, the Asian market morning, the US dollar index continued its overnight decline, once refreshed more than a year low to 100.44, and is currently trading near 100.50. The dollar index fell 1.05% on Wednesday to close at 100.59, the largest one-day percentage decline since the end of January. Earlier data showed that US consumer prices rose more slowly in June, suggesting that the Federal Reserve may only need to raise interest rates again this year. Data showed that the US core consumer price index in June...

  The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that on July 13, 2023, the central parity rate of the RMB exchange rate in the interbank foreign exchange market was 7.1527 yuan for 1 US dollar, 7.9739 yuan for 1 euro, 5.1769 yuan for 100 yen, 0.91398 yuan for 1 Hong Kong dollar, 9.3035 yuan for 1 pound, 4.8618 yuan for 1 Australian dollar, and 4.8618 yuan for 1 New Zealand dollar.

  ► Under the influence of a high base, the year-on-year growth rate of CPI fell to 3.0% in June (the previous value was 4.0%), which was in line with our expectations. However, with the weakening of the base effect, the year-on-year CPI may rebound in the second half of the year. We pointed out in the "Base Effect or Inflation Temporarily Reduced to 3%, Without Hindering the Federal Reserve's Interest Rate Raise" that due to the high base in the same period last year, there will be a relatively obvious decline in CPI in June. From a month-on-month perspective, the quarterly CPI rose by 0.2% in June, a slight rebound from the previous month...

  Nick Timiraos, a Wall Street Journal reporter known as the "New Federal Reserve News Agency", commented on the U.S. CPI data for June, saying that inflation fell to its lowest level in more than two years last month, freeing Americans from a painful period of rising prices and increasing the likelihood that the Federal Reserve will stop raising interest rates after raising interest rates this month. The U.S. Labor Department said on Wednesday that CPI rose 3% year-on-year in June, sharply lower than the peak of 9.1% in June 2022 and 5% lower than the peak in June 2022.

  The Federal Reserve is expected to raise interest rates further this year, an expectation that limits the rebound of U.S. stocks in 2023, but if Wednesday's CPI falls faster than expected, the outlook for interest rates, as well as the stock market, could change again. Economists expect headline inflation to fall from 4.0% to 3.1% and core inflation to fall from 5.3% to 5.0%, according to a Wall Street Journal survey. Analysts said Wednesday's CPI report is expected to be positive, thus boosting the weekly...