The onshore RMB closed at 7.1776 against the U.S. dollar at 16:30 on July 10, up 48 points from the previous trading day.

Former Brazilian President Bolsonaro: I clearly express my respect and admiration for the US government.

Abroad 1. JPMorgan Chase: Trump's new tariffs will raise the average US tax rate to 14.6%. 2. Goldman Sachs: The US dollar may once again trade as a "riskier" currency. 3. Citi: The window for exporting copper to the United States may close in the rest of 2025. 4. Citi: The Fed's minutes may echo Powell's testimony, and the "wait-and-see" period may end in late summer. 5. UBS: Long positions in US Treasuries have been closed, waiting for higher yields to enter the market again. 6. Standard Chartered: Reserve managers seem to be deliberately increasing their holdings of US dollars. 7. Barclays: High tariffs may lead to higher drug prices and shortages in the United States, and consumers will bear the brunt. 8. State Street Global: US Treasuries and US dollars have been sold off historically, and funds are pouring into other safe-haven markets. 9. OCBC Bank of Singapore: The global order is reshaped, and inflation and interest rates will rise in the next few years, and the US dollar will weaken. 10. Rabobank: The US dollar has rebounded, and the euro is expected to rise to 1.20 in the medium and long term. Domestic 1. CITIC Securities: Pay attention to the sector allocation opportunities under the background of copper prices returning to the long-term logic. 2. CITIC Construction Investment: Global funds are rebalancing, and the pressure of outflow from US stocks continues. 3. CITIC Securities: Pay attention to the trend of risky assets in July and seize the layout opportunities after the adjustment of the bond market. 4. Huatai Securities: The "anti-involution" policy is beneficial to the medium and long-term performance of pig prices. 5. Huatai Securities: The urgency of photovoltaic glass anti-involution is relatively strong, and leading companies are expected to take the lead in reducing production. 6. Tianfeng Securities: Storage prices have strong momentum in Q3-Q4. 7. Everbright Securities: OPEC+ has accelerated production beyond expectations, and the oil transportation boom is expected to pick up in the second half of the year.