欧元/捷克克朗 (EURCZK) 加自选

捷克共和国的外汇储备从上个月略微修订的1562亿美元增加到2025年5月的1572亿美元。这标志着自2022年5月以来的最高水平，反映了该国储备资产的稳步增长。这一增长主要是由于外汇储备和黄金储备的增加，外汇储备从4月份的1457亿美元增至1459亿美元，黄金储备从前一个月的62亿美元攀升至64亿美元。与此同时，以特别提款权（SDR）持有的储备保持不变，为35亿美元，国际货币基金组织的储备头寸也保持稳定，为8亿美元。

Foreign exchange reserves in the Czech Republic increased to $157.2 billion in May 2025 from a slightly revised $156.2 billion in the previous month. This marked the highest level recorded since May 2022, reflecting a steady buildup in the country’s reserve assets. The growth was mainly driven by increases in both foreign currency reserves, which rose to $145.9 billion from $145.7 billion in April, and gold reserves, which climbed to $6.4 billion from $6.2 billion in the previous month. Meanwhile, reserves held in special drawing rights (SDRs) stood unchanged at $3.5 billion, along with the IMF reserve position, which remained stable at $0.8 billion.

德国10年期国债收益率降至2.51%，在上周上涨5.4个基点后回落，因为投资者关注美中贸易谈判，并等待欧洲央行官员对政策前景的指导。在特朗普总统和Xi最近通话后，美国和中国的谈判代表今天在伦敦举行会议，在上个月在日内瓦达成的初步协议的基础上再接再厉。在货币方面，欧洲央行上周将利率下调了25个基点，使借贷成本降至2022年11月以来的最低水平，并下调了2025年和2026年的通胀预测。然而，该行表示，其当前的宽松周期可能即将结束，这与早些时候的市场预期相悖。

The yield on the German 10-year Bund eased toward 2.51%, retracing after a 5.4 basis-point rise last week, as investors monitored US-China trade talks and awaited guidance from European Central Bank officials on the policy outlook. US and Chinese negotiators are meeting in London today to build on last month’s preliminary agreement reached in Geneva, following a recent phone call between Presidents Trump and Xi Jinping. On the monetary front, the ECB cut interest rates by 25 basis points last week—bringing borrowing costs to their lowest since November 2022—and lowered its inflation forecasts for 2025 and 2026. However, the bank signaled it may be nearing the end of its current easing cycle, defying earlier market expectations.

富时MIB指数周一早盘下跌0.4%，至40410点左右，本周开盘走低，反映了大多数欧洲市场的下跌。投资者情绪受到中国令人失望的经济数据的抑制，5月份中国消费者和生产者价格均有所下降，而贸易数据显示出口增长低于预期，进口持续下降。然而，在当天晚些时候在伦敦举行的美中贸易谈判之前，一些乐观情绪依然存在，投资者希望这可能会缓解世界两大经济体之间的紧张局势。在企业方面，Leonardo（-1.3%）、Hera（-1.1%）和Bper Banca（-1.0%）出现了显著亏损。

The FTSE MIB index fell by 0.4% to around 40,410 in early trading on Monday, kicking off the week on a lower note and mirroring losses across most European markets. Investor sentiment was dampened by disappointing economic data from China, where both consumer and producer prices declined in May, while trade figures showed weaker-than-expected export growth and a continued decline in imports. However, some optimism lingered ahead of US-China trade talks in London later in the day, which investors hope might ease tensions between the world’s two largest economies. On the corporate side, notable losses were seen in Leonardo (-1.3%), Hera (-1.1%), and Bper Banca (-1.0%).

欧元反弹至1.14美元上方，接近6月5日达到的六周高点1.149美元，因为投资者追踪美中贸易谈判的进展，并期待欧洲央行官员发表重要讲话，以了解欧洲央行的政策前景。美国和中国高级谈判代表今天在伦敦举行会议，旨在在上个月在日内瓦达成的初步协议的基础上再接再厉，讨论可能集中在稀土矿物和先进技术上。在货币方面，欧洲央行上周将利率下调了25个基点，使借贷成本降至2022年11月以来的最低水平，并下调了2025年和2026年的通胀预测。然而，该行也表示，与早些时候的预期相反，其当前的宽松周期可能即将结束。

The euro rebounded above the $1.14 level, edging closer to the six-week high of $1.149 reached on June 5, as investors tracked progress in US-China trade talks and looked ahead to key speeches from European Central Bank officials for insight into the ECB’s policy outlook. Top US and Chinese negotiators are meeting in London today, aiming to build on last month’s preliminary agreement in Geneva, with discussions likely to focus on rare-earth minerals and advanced technology. On the monetary front, the ECB cut interest rates by 25 basis points last week—bringing borrowing costs to their lowest since November 2022—and cut its inflation projections for 2025 and 2026. However, the bank also signaled it may be nearing the end of its current easing cycle, contrary to earlier expectations.