Cargo ships and cranes at a busy port during sunset.
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宏观策略(黄金)
– 美国6月核心PCE物价指数同比升2.8%
– 金价震荡收跌回到3300美金下方,美国6月核心PCE好于预期,美联储利率会议鲍威尔的鹰派表态意味着短期降息预期下降,市场缺乏增量利多,8月1日美国对外关税落地。

宏观策略(股指期货)
– 国常会:加力提升宏观政策效能
– 7月PMI不及预期,短期国内经济压力加大,股市也高位受挫。我们认为在高估值高点位下,任何回调都是正常且合理的。前期股市已经抢跑,需基本面配合才能行稳致远。

宏观策略(国债期货)
– 中国7月官方制造业PMI为49.3,不及预期
– 7月景气度的改善主要体现在预期端,实际上供需同步走弱,供强于求的问题依旧存在,国债期货暂进入顺风期,但市场走强节奏相对波折,做多需把握节奏。

黑色金属(焦煤/焦炭)
– 吕梁市场冶金焦价格偏强运行
– 总体来看,近期焦煤受宏观换和政策等影响,市场波动较大,连续大幅下跌后短期或有企稳,注意仓位管理。

有色金属(铜)
– 特朗普宣布对进口半成品铜等产品征收50%关税
– 短期关税超预期调整即美国精炼铜进口关税获得豁免,市场对美国库存外移担忧增强,从而抑制铜价,策略上短期偏空思路对待。

能源化工(PTA)
– 江浙终端开工率:加弹、织造继续提升
– 织造端负荷开始回升,原料备货尚充裕,短期补货需求一般,需求端起色仍有待观察。

更多内容,请浏览东证期货大数据平台繁微:https://bit.ly/46bcOMD

上海东证期货有限公司

上海东证期货有限公司成立于2008年,是一家经中国证券监督管理委员会批准的经营期货业务的综合性公司。东证期货是东方证券股份有限公司全资子公司。公司主要从事商品期货经纪、金融期货经纪、期货交易咨询、资产管理、基金销售等业务,拥有上海期货交易所、大连商品交易所、郑州商品交易所、上海国际能源交易中心和广州期货交易所会员资格,是中国金融期货交易所全面结算会员。公司拥有东证润和资本管理有限公司,上海东祺投资管理有限公司和东证期货国际(新加坡)私人有限公司三家全资子公司。

自成立以来,东证期货秉承稳健经营、创新发展的宗旨,坚持以金融科技助力衍生品发展为主线,通过大数据、云计算、人工智能、区块链等金融科技手段打造研究和技术两大核心竞争力,坚持市场化、国际化、集团化发展方向,朝着建设一流衍生品服务商的目标继续前行。

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