中国5月份外汇储备增加36亿美元，低于预期。周六的官方数据显示，由于美元兑其他主要货币继续走弱，中国5月份的外汇储备增长了36亿美元，低于预期。

China's forex reserves up $3.6 billion in May, less than expected.China's foreign exchange reserves rose by a less-than-expected $3.6 billion in May, official data showed on Saturday, as the dollar continued to weaken against other major currencies.

2025年5月，中国外汇储备从4月的3.282万亿美元增加到3.285万亿美元，增加了36亿美元，达到去年9月以来的最高水平。这一增长是由美元兑其他主要货币走弱和资产价格变化推动的。5月份，人民币兑美元汇率下跌1.05%，而美元兑一篮子其他主要货币汇率下跌0.23%。 截至5月底，黄金储备为7383万金衡盎司，略高于4月底的7377万盎司，因为央行连续第七个月购买贵金属。然而，由于4月底金价下跌，黄金储备的价值从上个月的2440亿美元略微降至2420亿美元。

China’s foreign exchange reserves rose by USD 3.6 billion to USD 3.285 trillion in May 2025, up from USD 3.282 trillion in April, marking the highest level since last September. The increase was driven by the weakening of the U.S. dollar against other major currencies and changes in asset prices. The yuan weakened by 1.05% against the dollar in May, while the dollar slid 0.23% against a basket of other major currencies. Gold reserves stood at 73.83 million fine troy ounces at the end of May, up slightly from 73.77 million ounces at the end of April, as the central bank bought the precious metal for a seventh straight month. However, the value of gold reserves fell slightly to an equivalent of USD 242 billion, down from USD 244 billion the previous month, due to a decline in bullion prices in late April.

市场每周展望——贸易不确定性挥之不去，美国通胀上升。在好于预期的就业报告平息了对经济的担忧，而特斯拉从前一天的大幅下跌中反弹，科技股继续上涨后，华尔街主要指数本周将以高价收盘。

Markets Weekly Outlook – US Inflation on Deck as Trade Uncertainty Lingers.Wall Street's main indexes were set to end the week on a high note, after a better-than-expected jobs report calmed worries about the economy, while Tesla rebounded from a sharp plunge a day earlier and technology stocks continued to rise.

5月CPI预览：关税测试。5月份的CPI报告将是对更高关税传递给消费者的速度和幅度的重要考验。我们预计5月份整体CPI（0.15%）只会温和上涨，因为经季节性调整后汽油价格下跌，食品通胀似乎温和。

May CPI Preview: Test of Tariffs.May's CPI report will be an important test of the speed and magnitude to which higher tariff rates are being passed along to the consumer. We expect to see only a moderate advance in headline CPI (0.15%) in May as gasoline prices fell on a seasonally adjusted basis and food inflation appeared tame.