Daily Finance Briefing — 2026-10-11 08:30 (Beijing Time)

Markets closed for the weekend (A-shares closed Friday, US equities closed Friday). Data below is the prior-session reference.

📊 FX Market

Pair	Last	Day Change
EUR/USD	1.12021	-0.10%
USD/JPY	158.31	+0.16%
USD/CNY (offshore)	6.6743	Fixing 6.7330

Commentary: The dollar traded in a tight range with EUR under mild pressure on Friday. JPY held the 158 line as the market continues to watch intervention thresholds. Offshore CNY stabilized near 6.67; the PBOC Friday fix at 6.7330 came in well below the Reuters estimate, signaling a clear intent to stabilize the currency.

📈 US Equity Focus

🍎 Apple (AAPL): $336.64 (-1.11%), market cap ~$5.0T, TTM EPS $8.72, after-hours -0.18%. According to Invezz, Apple asked some component suppliers to cut iPhone 18 Pro / Pro Max orders; the stock fell ~2% premarket, suggesting softening hardware demand.

🚗 Tesla (TSLA): $382.70 (+2.05%). September China-made EV sales rose 5% YoY (vs +3.6% in August), with European sales continuing their rebound. Musk is reportedly pushing a major semiconductor project, layered on the AI-compute narrative, drawing inflows.

🔥 NVIDIA (NVDA): $229.28 (-0.52%), TTM revenue $303.0B (+83% YoY). This week, Nvidia-backed data-center operator Firmus shelved its $5B IPO, but fundamentals are intact and the options market remains net long.

🥇 🥈 Commodities

Asset	Last	Day Change
Gold XAU/USD	$4,194.90/oz	+1.21%
Silver XAG/USD	$60.84/oz	+2.13%

Commentary: Gold and silver both rallied Friday, with gold holding above $4,150 — only a step from the record high of $4,207. The three pillars — rate-cut expectations, geopolitical risk premium, and central-bank buying — remain intact; the "buy-the-dip" thesis continues to hold. Silver outperformed, with industrial demand and monetary attributes resonating.

🏛 Central Banks & Policy

🦅 Federal Reserve: At its October 29 meeting, the FOMC cut rates 25bp for the second consecutive time, bringing the target range to 3.75%–4.00%. Chair Powell stressed "no urgency to act further," dampening market expectations for aggressive December easing.

🏰 European Central Bank: Lagarde has struck a cautious tone recently, emphasizing services-inflation stickiness. The market is pricing the ECB to stay on hold for the rest of 2026, with the October meeting expected to be a no-op.

🇨🇳 People's Bank of China: September LPR was held flat for the 16th consecutive month. Governor Pan Gongsheng said on Wednesday that policy will rely more on interest-rate tools and less on loan-growth targets. The market expects a Q4 25bp RRR cut plus additional structural tools.

🌐 Diplomacy & Major Events

🤝 US–China Summit Diplomacy: Trump and Xi held a three-day summit in Washington, agreeing to slash tariffs on $30 billion of goods in a phased trade framework that eased fears of further escalation. Asian stocks rallied on the day and the renminbi strengthened.

🇪🇺 China–EU Trade: EU members are still consulting on handling the expiration of anti-subsidy duties on Chinese EVs; some members favor prolongation. The window for resuming the Comprehensive Agreement on Investment talks has not opened.

🌍 Geopolitics: Tensions around the Strait of Hormuz have not eased materially, and Iran nuclear-talks remain stalled. Oil is holding in elevated ranges (above $80/bbl), indirectly supporting gold.

⚠️ Disclaimer

Data is for reference only and does not constitute investment advice. Markets carry risk; invest with caution.

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First published on the WeChat Official Account 「瑞哥观势」