UEDA: Exchange-rate volatility now transmits to prices more easily than before.

China's NDRC said the domestic refined-fuel price-adjustment window will open at 24:00 on July 31. The NDRC price-monitoring center said international oil averaged sharply higher in the July 17 24:00–July 31 24:00 cycle amid repeated US–Iran military clashes, prompting nationwide retail price caps to rise by 685 yuan/ton for gasoline and 655 yuan/ton for diesel, effective 24:00 July 31. On average pump prices will increase by 0.54 yuan/l for 92 RON, 0.57 yuan/l for 95 RON and 0.56 yuan/l for 0# diesel; a 50-litre fill of 92 RON adds about 27 yuan.

Apple (AAPL.O) reported fiscal 2026 Q3 gross margin of 50.1% versus market consensus of 47.92%, a 218 bps beat.