The Ministry of Transport reported July 20–26 national logistics: railway freight 77.447 mln tonnes, up 3.77% week‑on‑week; expressway truck passages 54.08 mln, up 0.08% WoW; monitored ports handled 275.155 mln tonnes of cargo, up 19.47% WoW, and 6.979 mln TEU of containers, up 16.51% WoW; civil aviation operated 138,000 flights, including 4,862 cargo flights (3,184 international, 1,678 domestic), down 0.83% WoW; postal and courier pickup ~3.882 bln items, down 1.87% WoW, with deliveries ~3.882

奧迪首席財務官：我們必須與大衆集團合作，重新調整商業模式，實施大規模改進。

Key market themes: Fed-led “super central bank week” with a pivotal FOMC decision and Fed Chair KEVIN WARSH press conference, June core PCE and US GDP data, heavy US tech earnings, weekly US oil inventories and an OPEC+ meeting. Monday — German IFO, UK CBI retail, US durable goods (Jun MoM) and Dallas Fed business index. Tuesday — US ADP payrolls (week to Jul 11), FHFA house prices (May MoM), S&P/Case‑Shiller 20‑city YoY (May), Conference Board consumer confidence (Jul) and RESERVE BANK OF AUSTRALIA Governor BULLOCK speaks. Wednesday — API crude stocks (week to Jul 24); EIA crude, Cushing and SPR weekly stocks; Australia unadj CPI (Jun YoY); Swiss ZEW; UK mortgage approvals; SK Hynix Q2 results. Thursday — FOMC rate decision and Chair KEVIN WARSH press conference; BOE rate decision, minutes, monetary policy report and Governor BAILEY press conference; BOC minutes; US advance Q2 GDP (annualized), Q2 core PCE (annualized preliminary), Jun core PCE (MoM/Yr), personal spending (Jun MoM), initial jobless claims; Eurozone and major European GDP preliminaries and sentiment indicators; Germany Jul CPI prelim; EIA weekly gas stocks; Meta, Microsoft, Qualcomm and ARM report Q2 after US close. Friday — Japan unemployment (Jun); China Jul official manufacturing PMI; UK Nationwide house prices; Eurozone Jul CPI prelim (YoY/MoM); France CPI prelim (Jul MoM); Germany unemployment data; Canada May GDP; US Q2 unit labour costs, Chicago PMI (Jul), U. of Michigan final confidence and 1‑yr inflation expectation (Jul); BANK OF JAPAN rate decision and Governor UEDA press conference; China opens new domestic refined‑fuel price adjustment window; Amazon and Apple report after US close. Saturday — US rotary/drill rig count (week to Jul 31). Sunday — OPEC+ monthly ministerial meeting.