瑞郎/日元 (CHFJPY) 加自选

日本通胀率有望放缓，日元下跌。日本将于周五发布7月通胀报告。市场将对核心利率特别感兴趣，预计核心利率将从6月份的3.3%降至3.0%。

Japan's Inflation Rate Expected to Ease, Yen Dips.Japan releases the July inflation report on Friday. The markets will be especially interested in the core rate, which is expected to ease to 3.0% y/y, from 3.3% in June.

美元/日元：可能在146.90至147.90之间交易——大华银行集团。美元（USD）的交易价格可能在146.90至147.90之间。大华银行集团外汇分析师Quek Ser Leang和Peter Chia指出，从长远来看，146.50/148.50的较窄区间可能足以暂时控制价格走势。

USD/JPY: Likely to trade in a range between 146.90 and 147.90 – UOB Group.US Dollar (USD) is likely to trade in a range between 146.90 and 147.90. In the longer run, a narrower range of 146.50/148.50 is likely enough to contain the price movements for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

美元/日元在日元普遍疲软的情况下将复苏延长至147.60。周五，美元兑日元汇率加速回升。美元/日元从周三的146.90以下的低点反弹至147.65附近的水平，尽管从更广泛的角度来看，该货币对保持了146.70至148.00之间的波动性。周四，美元保持了最近的涨幅，重点是美国初步采购经理人指数和美联储鲍威尔周五的讲话，而在日本，7月份的CPI数据可能会为下一次日本央行会议的结果提供更多线索

USD/JPY extends its recovery to 147.60 amid generalised Yen weakness .The US Dollar accelerated its recovery against a weaker Japanese Yen on Friday. USD/JPY's rebound from Wednesday's lows right below 146.90 has extended to levels near 147.65, although, from a broader perspective, the pair maintains a choppy and volatile behaviour, ranging between 146.70 and 148.00 The Greenback is holding recent gains on Thursday, with the focus on preliminary US PMI figures and Fed Powell's speech on Friday, while in Japan, July's CPI data might give further clues about the outcome of the next BoJ meeting

2025年7月，瑞士的贸易顺差从上个月的42亿瑞士法郎略微扩大到43亿瑞士法郎，这是自4月以来的最大顺差。出口环比下降2.7%，至222亿瑞士法郎。这是由于服装和高级珠宝（-9.7%）以及化学和制药产品（-6.8%）的出货量下降。奥地利（-36.9%）、爱尔兰（-21.1%）和南非（-20.5%）的出口降幅最大。7月份对美国的出口仅增长1.1%，与6月份修订后的25.2%的激增相比大幅放缓。这一减速反映了美国在贸易谈判未能产生有利结果后对瑞士商品征收39%的关税的影响，这是全球最高的关税之一。与此同时，进口以4.2%的速度下降，至179亿瑞士法郎，主要原因是能源（-12.2%）和化学及药品（-11.7%）的进口减少。进口量下降幅度最大的是爱尔兰（-62.7%）、澳大利亚（-48.1%）和西班牙（-28.6%）。

Switzerland's trade surplus widened slightly to CHF 4.3 billion in July 2025 from CHF 4.2 billion in the previous month, marking the largest surplus since April. Exports fell by 2.7% month-on-month to CHF 22.2 billion, driven by lower shipments of costume and fine jewelry (-9.7%) as well as chemical and pharmaceutical products (-6.8%). The sharpest export declines were recorded to Austria (-36.9%), Ireland (-21.1%), and South Africa (-20.5%). Exports to the US rose just 1.1% in July, a sharp slowdown from June’s revised 25.2% surge. The deceleration reflects the impact of a 39% US tariff on Swiss goods—one of the highest globally—imposed after trade talks failed to produce a favorable outcome. Meanwhile, imports declined at a faster pace of 4.2% to CHF 17.9 billion, primarily due to reduced imports of energy sources (-12.2%) and chemical and pharmaceutical products (-11.7%). The steepest declines in import volumes were from Ireland (-62.7%), Australia (-48.1%), and Spain (-28.6%).