The USD/JPY exchange rate rose more than 0.50% during the day and is now trading at 146.98.

Domestic News 1. Ministry of Human Resources and Social Security, Ministry of Finance: Basic pension for retirees increased by 2%. 2. The visa exemption agreement between China and Malaysia will take effect on July 17. 3. Ministry of Commerce: Special operations have been deployed to combat the smuggling and export of strategic minerals. 4. The Ministry of Commerce responded to the US Secretary of Commerce's statement that it may meet with Chinese negotiators in early August. 5. Beijing Municipal People's Government issued the "Beijing Special Action Plan for Deepening Reform and Boosting Consumption". 6. Wang Yi: China-ASEAN Free Trade Area 3.0 negotiations have been fully completed and the protocol will be signed within the year. 7. China Association of Automobile Manufacturers: my country's automobile production and sales in the first half of the year exceeded 15 million, and new energy vehicles performed well. 8. Shanghai State-owned Assets Supervision and Administration Commission held a central group study meeting on the development trend and response strategies of cryptocurrencies and stablecoins. 9. Ministry of Finance: EU companies should be excluded from government procurement projects of medical devices above 45 million yuan. International News 1. Huang Renxun met with Trump on Thursday. 2. The EU is considering suspending political dialogue and trade preferences with Israel. 3. It is reported that OPEC+ is considering suspending production increases from October and entering a wait-and-see period. 4. Overnight, the S&P 500, Nasdaq, Nvidia and Bitcoin all hit new highs. 5. A US judge blocked Trump's birthright citizenship order in a nationwide class action lawsuit. 6. Musk announced the launch of the Grok 4 model, saying it will be applied to Tesla cars by next week at the latest. 7. OPEC lowered its global oil demand forecast for the next four years and raised its long-term demand forecast. 8. Federal Reserve-① Musalem: The impact of tariffs on inflation may not be clear until the end of the year. ② Daly: Consider implementing a rate cut in the fall and believe that there will be two rate cuts this year. No evidence of the impact of continued tariffs on prices is seen. ③ Waller reiterated the possible reasons for the July rate cut and said that its loose policy is not politically motivated. Stablecoins can boost overall demand for the US dollar. ④ The Federal Reserve proposed to relax supervision of large banks. 9. Tariffs-①The US Secretary of Commerce will travel to Japan next week. ②Source: The tariff negotiations between Europe and the United States have accelerated, and the automotive industry is the "red line" for the European side. ③Former Brazilian President Bolsonaro may ask Trump to cancel the tariff measures on Brazil. ④Chile seeks to exempt the US copper tariff. ⑤Brazilian President Lula: If the negotiations with the United States cannot be reached, reciprocal tariffs will be implemented. ⑥11% to 20%, US media revealed that Vietnam did not agree with the tariff rate announced by Trump.

S&P Global Market Intelligence: European high-yield credit default swaps (CDS) fell to their lowest level in more than nine months at 277 basis points.