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On July 15, CICC's research report stated that the U.S. June CPI adjusted month-on-month fell by 0.4%, and the year-on-year increase dropped to 3.5%; core CPI showed zero growth month-on-month and a year-on-year increase of 2.6%, both below market expectations. The decline in energy prices is the main reason for the cooling of inflation. Looking ahead, the situation between the U.S. and Iran has escalated again, creating volatility in the energy inflation outlook. Meanwhile, the inflationary effects of AI are gradually becoming apparent, with upstream hardware supply-demand mismatches, price increases in software and related products, and AI capital expenditure driving total demand potentially making core inflation stickier. Regarding policy, the cooling inflation in June supports the Fed's decision to maintain interest rates at the July meeting, but Waller's recent statements indicate that the Fed is reassessing the possibility of 'preemptive rate hikes.' We maintain our benchmark judgment of no rate hikes this year, but caution that the threshold for rate hikes has indeed decreased. Should one or two overheating inflation data points emerge, it could prompt the Fed to further discuss rate hike options.

[Institution: Maintains Benchmark Judgment of No Rate Hike by the Fed This Year, but Hike Threshold Has Decreased]On July 15, CICC's research report stated that the U.S. June CPI adjusted month-on-month fell by 0.4%, and the year-on-year increase dropped to 3.5%; core CPI showed zero growth month-on-month and a year-on-year increase of 2.6%, both below market expectations. The decline in energy prices is the main reason for the cooling of inflation. Looking ahead, the situation between the U.S. and Iran has escalated again, creating volatility in the energy inflation outlook. Meanwhile, the inflationary effects of AI are gradually becoming apparent, with upstream hardware supply-demand mismatches, price increases in software and related products, and AI capital expenditure driving total demand potentially making core inflation stickier. Regarding policy, the cooling inflation in June supports the Fed's decision to maintain interest rates at the July meeting, but Waller's recent statements indicate that the Fed is reassessing the possibility of 'preemptive rate hikes.' We maintain our benchmark judgment of no rate hikes this year, but caution that the threshold for rate hikes has indeed decreased. Should one or two overheating inflation data points emerge, it could prompt the Fed to further discuss rate hike options.

Institution: Maintains Benchmark Judgment of No Rate Hike by the Fed This Year, but Hike Threshold Has Decreased

On July 15, Japan's largest card network JCB signed a Memorandum of Understanding (MOU) with Circle to explore the use of USDC for cross-border payments, merchant settlements, and fund management, promoting the application of stablecoins in everyday payment scenarios in Japan. JCB has approximately 140 million users and 40 million merchants globally. Initially, the two parties will conduct a proof of concept (PoC) focusing on internal fund transfers within JCB, and further research ways to enhance cross-border payment efficiency, reduce remittance costs, and support international tourists using stablecoin payments at Japanese merchants. This collaboration is part of the commercialization process of stablecoins in Japan. Previously, Circle announced a partnership with Nomura to develop USDC-based foreign exchange settlement services; Japanese convenience store chain Lawson also plans to launch a stablecoin payment pilot in August this year.

[JCB Partners with Circle to Explore USDC Stablecoin Payments for 40 Million Merchants]On July 15, Japan's largest card network JCB signed a Memorandum of Understanding (MOU) with Circle to explore the use of USDC for cross-border payments, merchant settlements, and fund management, promoting the application of stablecoins in everyday payment scenarios in Japan. JCB has approximately 140 million users and 40 million merchants globally. Initially, the two parties will conduct a proof of concept (PoC) focusing on internal fund transfers within JCB, and further research ways to enhance cross-border payment efficiency, reduce remittance costs, and support international tourists using stablecoin payments at Japanese merchants. This collaboration is part of the commercialization process of stablecoins in Japan. Previously, Circle announced a partnership with Nomura to develop USDC-based foreign exchange settlement services; Japanese convenience store chain Lawson also plans to launch a stablecoin payment pilot in August this year.

JCB Partners with Circle to Explore USDC Stablecoin Payments for 40 Million Merchants

On July 15, the South Korean Exchange activated a temporary trading halt mechanism for the KOSPI index, pausing programmatic trading for 5 minutes.

[KOSPI Index in South Korea Hits Limit Up, Programmatic Trading Paused for 5 Minutes]On July 15, the South Korean Exchange activated a temporary trading halt mechanism for the KOSPI index, pausing programmatic trading for 5 minutes.

KOSPI Index in South Korea Hits Limit Up, Programmatic Trading Paused for 5 Minutes

On July 15, according to CCTV, the Iranian military issued a statement early in the morning local time, claiming that it has been continuously conducting drone strikes on US military bases in the region. The statement indicated that a few hours earlier, the F-18 fighter jet deployment site, accommodation buildings, and large equipment warehouses at the US military base in Azraq, Jordan, were attacked by Iranian suicide drones.

[Iranian Military Continues Strikes on US Bases in the Region]On July 15, according to CCTV, the Iranian military issued a statement early in the morning local time, claiming that it has been continuously conducting drone strikes on US military bases in the region. The statement indicated that a few hours earlier, the F-18 fighter jet deployment site, accommodation buildings, and large equipment warehouses at the US military base in Azraq, Jordan, were attacked by Iranian suicide drones.

Iranian Military Continues Strikes on US Bases in the Region

On July 15, the US Central Command disclosed that the US military has resumed its naval blockade against ships traveling to and from Iranian ports and coastal areas at 4 PM Eastern Time on July 14 (4 AM Beijing Time on July 15). Currently, over 20 US Navy ships and hundreds of military aircraft are deployed in the Middle East. The US military remains on high alert, equipped with lethal strike capabilities, and is prepared for action at any time. Earlier, at 3 PM Eastern Time on July 14 (3 AM Beijing Time on July 15), the US military launched a new round of strikes against Iran, targeting its ability to attack commercial vessels in the Strait of Hormuz. The naval blockade against Iranian ports and coastal areas will commence at 4 PM Eastern Time.

[US Military Confirms Resumption of Naval Blockade Against Iran at 4 AM]On July 15, the US Central Command disclosed that the US military has resumed its naval blockade against ships traveling to and from Iranian ports and coastal areas at 4 PM Eastern Time on July 14 (4 AM Beijing Time on July 15). Currently, over 20 US Navy ships and hundreds of military aircraft are deployed in the Middle East. The US military remains on high alert, equipped with lethal strike capabilities, and is prepared for action at any time. Earlier, at 3 PM Eastern Time on July 14 (3 AM Beijing Time on July 15), the US military launched a new round of strikes against Iran, targeting its ability to attack commercial vessels in the Strait of Hormuz. The naval blockade against Iranian ports and coastal areas will commence at 4 PM Eastern Time.

US Military Confirms Resumption of Naval Blockade Against Iran at 4 AM

On July 15, according to Bit.com market data, U.S. stocks closed higher on Tuesday, with the Dow Jones Industrial Average up 0.02%, the S&P 500 gaining 0.38%, and the Nasdaq rising 0.9%. SanDisk (SNDK.O) and Micron Technology (MU.O) both increased by about 5%, while SK Hynix ADR (SKHY.O) soared by 27.2%. The optical communication sector saw significant gains, with POET rising over 10% and LITE increasing by more than 6%.

[U.S. Stock Indices Close Higher; SanDisk and Micron Up About 5%, POET Surges Over 10%]On July 15, according to Bit.com market data, U.S. stocks closed higher on Tuesday, with the Dow Jones Industrial Average up 0.02%, the S&P 500 gaining 0.38%, and the Nasdaq rising 0.9%. SanDisk (SNDK.O) and Micron Technology (MU.O) both increased by about 5%, while SK Hynix ADR (SKHY.O) soared by 27.2%. The optical communication sector saw significant gains, with POET rising over 10% and LITE increasing by more than 6%.

U.S. Stock Indices Close Higher; SanDisk and Micron Up About 5%, POET Surges Over 10%

On July 15, the Islamic Revolutionary Guard Corps of Iran issued a statement saying that as long as the United States continues to carry out attacks on Iran, the region will not export 'a drop of oil' or natural gas. (Xinhua News Agency)

[Iran Claims US Attacks Will Halt Oil Exports from the Region]On July 15, the Islamic Revolutionary Guard Corps of Iran issued a statement saying that as long as the United States continues to carry out attacks on Iran, the region will not export 'a drop of oil' or natural gas. (Xinhua News Agency)

Iran Claims US Attacks Will Halt Oil Exports from the Region

On July 15, according to monitoring by Onchain Lens, Samisa traded PONS on the Robinhood Chain, making over $46,700 in profit from just $29 in one day.

[Samisa Trades PONS on Robinhood Chain, Profits Over $46,700 from $29 in One Day]On July 15, according to monitoring by Onchain Lens, Samisa traded PONS on the Robinhood Chain, making over $46,700 in profit from just $29 in one day.

Samisa Trades PONS on Robinhood Chain, Profits Over $46,700 from $29 in One Day

On July 15, sources revealed that AI cloud computing company CoreWeave (CRWV.O) is exploring the use of financial derivatives as a potential hedge against future declines in memory and storage chip prices. This unusual move highlights how the AI boom has deeply intertwined cloud service providers with the volatile chip market. To secure supply, cloud operators, including CoreWeave, have signed long-term agreements with memory and storage chip manufacturers such as Micron and SanDisk. Many of these agreements provide suppliers with price floors for DRAM and storage chips. However, this arrangement is a double-edged sword; while it protects chip manufacturers from market downturns, it also exposes cloud service companies like CoreWeave to risks. If prices fall, they will be forced to continue purchasing at prices significantly above market rates. Consequently, CoreWeave executives have begun discussions on how to hedge against the risk of inventory depreciation due to potential future price declines. These discussions are still in the early stages, and the company has not yet executed any hedging operations. Proposed strategies include put options and other possible derivative instruments.

[CoreWeave Considers Financial Derivatives to Hedge Against Falling Memory Chip Prices]On July 15, sources revealed that AI cloud computing company CoreWeave (CRWV.O) is exploring the use of financial derivatives as a potential hedge against future declines in memory and storage chip prices. This unusual move highlights how the AI boom has deeply intertwined cloud service providers with the volatile chip market. To secure supply, cloud operators, including CoreWeave, have signed long-term agreements with memory and storage chip manufacturers such as Micron and SanDisk. Many of these agreements provide suppliers with price floors for DRAM and storage chips. However, this arrangement is a double-edged sword; while it protects chip manufacturers from market downturns, it also exposes cloud service companies like CoreWeave to risks. If prices fall, they will be forced to continue purchasing at prices significantly above market rates. Consequently, CoreWeave executives have begun discussions on how to hedge against the risk of inventory depreciation due to potential future price declines. These discussions are still in the early stages, and the company has not yet executed any hedging operations. Proposed strategies include put options and other possible derivative instruments.

CoreWeave Considers Financial Derivatives to Hedge Against Falling Memory Chip Prices

Today, the Fear & Greed Index currently reads 48, 5 points lower than yesterday's, indicating the crypto market is in "Neutral". 
Note: As per the index, a value of 0 means "Extreme Fear" while a value of 100 represents "Extreme Greed." The current index is for Bitcoin only and is measured based on volatility (25%), market momentum/volume (25%), social media (25%), surveys (15%), dominance (10%), and trends (10%).

[Crypto Market Sentiment On Apr 06: Market in "Neutral"]Today, the Fear & Greed Index currently reads 48, 5 points lower than yesterday's, indicating the crypto market is in "Neutral". 
Note: As per the index, a value of 0 means "Extreme Fear" while a value of 100 represents "Extreme Greed." The current index is for Bitcoin only and is measured based on volatility (25%), market momentum/volume (25%), social media (25%), surveys (15%), dominance (10%), and trends (10%).

Crypto Market Sentiment On Apr 06: Market in "Neutral"

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Crypto Market Sentiment On Apr 06: Market in "Neutral"

Disclaimer：Il contenuto di cui sopra non rappresenta le posizioni di HTX.，HTX non fornisce alcuna raccomandazione di trading.。

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