FxStreet reports — On the morning of August 24 in Asian trading, spot gold was trading around $4,607 per ounce. Last week, gold prices reached a three-month high, as the U.S. Treasury announced it may further expand its Treasury repurchase program, raising market concerns about potential erosion of confidence in the U.S. dollar.
CoinMarketCap APP report — On Monday (August 24, Beijing time), early Asian trading saw spot gold trading around $4,607per ounce. Last week, gold prices reached a three-month high as the U.S. Treasury announced it might further expand its Treasury buyback program, prompting market concerns that this could undermine confidence in the dollar, leading to a weaker dollar. Meanwhile, markets are awaiting specific details this week on U.S. economic sanctions against Iran; in response, Iran unveiled its “oil export countermeasure” on the 23rd, stating that if the U.S. launches an economic war, oil exports from the Strait of Hormuz and even the entire Persian Gulf region will cease. U.S. crude oil is currently trading around $86.13 per barrel.
U.S. stocks closed higher last Friday, with the Dow Jones, S&P 500, and Nasdaq rising 0.98%, 0.43%, and 0.44% respectively, but all three indices posted weekly declines, ending the S&P and Nasdaq’s three-week winning streak, while the Dow posted its second consecutive weekly loss.
The market was primarily driven by fluctuations in bond yields and uncertainty surrounding the Middle East situation. As the U.S. Treasury announced the potential expansion of its Treasury repurchase program, investor concerns about a one-sided rise in yields eased. On the day, the materials sector led gains, while the utilities sector posted the largest losses. Oil prices rose for the sixth consecutive day due to supply risks from Iran, further intensifying inflationary concerns.
Individually, Ross Stores rose 4.4% after raising its annual profit forecast. Looking ahead to next week, market focus will shift to earnings reports from tech companies like NVIDIA, the July PCE inflation data, and remarks by the Federal Reserve Chair at the Jackson Hole Symposium.
Spot gold rose nearly 2% last Friday, reaching a high of $4,632.10 per ounce, the highest since May 15, and gained over 5% for the week, marking its third consecutive weekly increase.
This rally was supported by gold breaking through the closely watched 200-day moving average (approximately $4,513 per ounce), a key technical level that technical analysts view as a bullish signal, alongside a weaker dollar, as markets question whether the U.S. Treasury’s plan to expand its bond repurchase program could undermine confidence in the dollar.
TD Securities strategists noted that if the momentum continues, the next target will be $4,700 per ounce, while Goldman Sachs reported that renewed global macro hedging demand has boosted bullish options demand for gold, creating a mechanical price amplification effect.
On the physical demand side, retail buying in India has been restrained by high prices, but demand in China remains steady; other precious metals also rose in tandem, with spot silver, platinum, and palladium rising 2.3%, 2.8%, and 0.8% respectively, as all precious metals ended last week higher.
Oil prices rose last Friday as U.S. President Trump threatened economic sanctions on Iran’s trading partners, raising market expectations of tighter supply in the coming weeks; Brent crude closed up 0.73% at $93.86 per barrel, while U.S. crude closed up 0.5% at $86.64, with both rising 5.93% and 5.15% respectively for the week.
Again Capital partners stated that sanctions have long been the primary tool for pressuring Iran, with Iran responding that it will launch "devastating" retaliation against any new threats. However, Empire FX analysts noted that, given Iran’s exports are already severely restricted by U.S. maritime blockades, the direct supply impact may be limited; yet, with shipping volumes in the Strait of Hormuz still far below normal levels, increased maritime incidents and retaliatory actions could heighten tensions.
Price Futures Group analysts believe the market is seeking alternative supplies through pipelines, U.S. shale oil, recovering Venezuela, the UAE, and other sources. Additionally, ongoing production cuts by major oil-producing nations continue to support oil prices, and neither the U.S. nor Iran has attempted to restart negotiations since the peace agreement expired this week. Vessel tracking data shows that only seven commodity ships passed through the Strait of Hormuz last Thursday, half the number from the previous day.
The US Dollar Index closed at 98.55 last Friday, with the US dollar falling to its lowest level against the euro in three months, as markets grew increasingly concerned that the US Treasury’s plan to expand repurchase operations for longer-term Treasuries could further weigh on the dollar. Treasury Secretary Bessent indicated that repurchase volumes might be increased further, following the Treasury’s unexpected commitment the previous day to at least double the scale of repurchases to curb rising yields. However, analysts noted that this move failed to effectively suppress US Treasury yields and instead weakened the dollar. Bannockburn Global Forex’s chief strategist said, “The market is pushing back.”
The euro reached a high of 1.1711, its highest level since May 14, before closing at 1.1679, while sterling against the US dollar touched a high of 1.3675, its highest level since February 11. The market’s next test will be Federal Reserve Chair Walsh’s speech in Jackson Hole this Friday; TD Securities believes the dollar faces downside risks, and if Walsh fails to address concerns about the credibility of inflation-fighting measures, it could further pressure the dollar.
Federal funds rate futures show a 40% probability of a rate hike in September and 72% by December. The yen edged up to 159.01 against the dollar, supported by accelerating core inflation in Japan in July, but analysts say the yen may resume its downward trend unless the Bank of Japan tightens policy, with markets focusing on its September 17-18 policy meeting.
The U.S. seeks to launch an unprecedented economic war; Iran unveils its "oil export countermeasure card"
Following U.S. President Trump's announcement of an "unprecedented" economic war against Iran, U.S. Treasury Secretary Bentsen confirmed that specific measures for "unprecedented economic isolation" of Iran will be officially revealed on the 24th. In response, Iran unveiled its "oil export countermeasure" on the 23rd, stating that if the U.S. launches an economic war, oil exports from the Strait of Hormuz and the entire Persian Gulf region will cease. With less than 24 hours remaining until the U.S. discloses the details of its sanctions, public opinion generally views this as a desperate move by the U.S. amid the ongoing stalemate in U.S.-Iran hostilities and failed negotiations. Although the specific measures have not yet been announced, analyses suggest this action may ultimately lead to a "lose-lose-lose" outcome. (CCTV News)
Iran's Foreign Minister: Iran has never feared U.S. sanctions
On the 23rd local time, Iranian Foreign Minister Alireza阿拉格齐 stated that Iran has never feared U.S. sanctions, and all of their actions—whether blockades or military operations—have failed; this new tactic will also fail. The so-called "economic actions" claimed by Trump are merely the United States'一贯 bullying tactics. "In a sense, it's like a movie we've seen countless times before—we know how to respond," Alireza阿拉格齐 said, adding that whether the U.S. resorts to military action or revives old tactics, it demonstrates they are running out of options. Faced with the Iranian people, the U.S. has no choice but to repeatedly recycle the same plans; they should understand that there is no alternative except engaging in respectful dialogue with the Iranian people and seeking solutions based on justice and dignity. (CCTV)
Iranian President: The country is in a state of total war; the U.S. misjudged Iran's collapse before the war
Iranian President Pezeshkian stated that Iran is currently facing a "comprehensive economic, military, and security war." He emphasized that Washington had wrongly predicted prior to conflict that Iran would quickly collapse under U.S. aggression and become like Venezuela, but reality has surprised the world with Iran's "resistance, unity, and cohesion." In response to Trump's announcement of imposing "the harshest sanctions" on Iran, Pezeshkian said Iran will stand firm and strive to confront this "asymmetric war" by combining internal mobilization with diplomatic efforts to resist external pressure. Currently, Iran is leveraging its control over the Strait of Hormuz as a strategic asset, maintaining its military-industrial production capacity amid a six-month-long conflict, while underscoring domestic resolve. Additionally, Iran has incorporated renewable energy development into its plan to alleviate energy imbalances and strengthen internal economic resilience.
Iran's security chief: Continue closing the Strait of Hormuz until the U.S. fulfills its commitments; warns neighbors not to participate in economic warfare
The Secretary of Iran’s Supreme National Security Council, Rezaei, stated that Iran will eliminate the economic pressure imposed by the United States and respond to countries participating in America’s “economic war” against Iran. He said the U.S. has been “cornered” and must either honor its commitments or face further escalation. Iran has clearly warned all its neighbors not to launch an economic war against it, or they will be regarded as hostile states and face Iranian countermeasures. Rezaei emphasized that reopening the Strait of Hormuz has not yet been considered; the U.S. must first fulfill its commitments to cease aggression and refrain from interfering with maritime traffic in the region. He revealed that Iran and Oman have reached a “paper agreement” on a commercial route passing through the strait, but the strait will be reopened once the U.S. fulfills its obligations. He stressed that the Strait of Hormuz is “part of Iran’s identity,” and Iran will not relinquish its control over it. Rezaei said that following U.S. and Israeli aggression, Iran’s defense strategy and diplomatic conduct have undergone a fundamental transformation. “Today’s Iran is no longer the pre-war Iran,” and international perceptions of Iran have also changed. Iran will incorporate lessons from the conflict into its future military planning and adjust its diplomatic approach to counter U.S. violations of commitments. The recent appointment of experienced commanders by the Supreme Leader signals that Iran will adopt new operational methods in the next phase. Rezaei stated that Iran does not seek war but will continuously resist hostile actions. He warned the U.S. not to increase its military presence in the Middle East, or Iran will respond with force. At the same time, he affirmed that Iran remains committed to diplomatic channels, but its negotiation approach has changed—Tehran will wait for the other side to fulfill its commitments, with goals including ending wars in Iran, Lebanon, Gaza, and Yemen. He also noted that despite maritime blockades, Iran exported 70 million barrels of oil over the past one to two months.
Trump: U.S. military can be deployed to intervene in the bond market
On August 21 local time, U.S. President Trump told the media that he did not instruct Treasury Secretary Bentsen to intervene in the bond market this week. When asked what other intervention measures could be taken if U.S. long-term bond yields rise again, Trump said, “The ultimate intervention is the U.S. military; if necessary, we will deploy the military.” (CCTV International News)
U.S.-Canada trade talks break down; the U.S. imposes a 50% tariff on select Canadian goods starting Saturday
U.S. Trade Representative Greer stated that Canada has refused to finalize a bilateral trade agreement and continues to maintain retaliatory measures against the United States, leading to a deadlock in negotiations. A senior official revealed that the U.S. had offered Canada more favorable access to the American market, a deal that would have significantly lowered tariffs and made Canada the country with the most favorable trade terms with the U.S. among all exporting nations. The official also noted that the U.S. provided generous concessions on automobile exports to Canada, yet Canada still chose not to accept them. According to senior officials in the Trump administration, pursuant to Section 338 of the Tariff Act of 1930, the United States will impose a 50% tariff on certain Canadian imported goods, a measure that took effect at 12:01 a.m. Eastern Time on Saturday.
Iranian parliamentary committee approves Hormuz Strait toll plan; fee mechanism faces legislative and international resistance
The Iranian National Security and Foreign Policy Committee has approved Article 3 of a legislative proposal permitting Iran to charge fees for vessels authorized to transit the Strait of Hormuz. This measure is part of the “Strategic Action Plan for Ensuring the Security and Development of the Strait of Hormuz,” with Tehran stating that the fees would cover maritime services, environmental services, fuel supply, insurance, security, and related activities, payable in Iranian rials or other designated currencies. Iran emphasizes that the proposed legislation does not disregard international maritime rules; the draft acknowledges the right of innocent passage under international law while affirming the sovereignty and security rights of littoral states, citing the 1982 United Nations Convention on the Law of the Sea and Oman’s relevant position. The Strait of Hormuz has become one of the primary points of contention in U.S.-Iran tensions, as Tehran seeks to expand its control over conditions for using the waterway, with this fee proposal serving as a core initiative to reinforce its regulatory claims. Commercial shipping through the Strait has declined sharply, with only a handful of vessels passing recently, compared to over 130 vessels daily before the conflict. Although Iran permits some Iraqi tankers to transit, overall access remains selectively restricted. The proposal must be approved by the full Iranian Parliament and submitted to the Guardian Council for review; if disagreements arise, the Expediency Discernment Council may intervene. The United States has previously rejected Iran’s attempts to strengthen control over the Strait and continues to enforce blockades on Iranian ports, creating uncertainty for shipping companies navigating conflicting policies. Any prolonged restriction could trigger a chain reaction of global supply shortages, increased transportation costs, and higher insurance premiums. As Iran advances its formal fee system while the U.S. maintains pressure, the Strait of Hormuz is simultaneously becoming a flashpoint for military conflict and a frontline for economic competition. If ultimately approved, the bill will provide Iran with a formal legal framework to charge authorized vessels.
The report shows: China's efforts to green the entire computing power chain have yielded initial results.
Currently, China’s computing power capacity is growing rapidly, with computing equipment upgrading toward higher energy efficiency, computing infrastructure undergoing positive green transformation, and computing-power-electricity coordination transitioning from concept to practice. New models and emerging industries such as computing networks, token economies, and computing power exports have become new growth engines. This latest update was revealed on the 22nd at the 2026 Green Computing (Artificial Intelligence) Conference held in Hohhot, Inner Mongolia Autonomous Region. At the conference’s opening ceremony, Ao Li, Deputy President of the China Academy of Information and Communications Technology, released the “Research Report on Green Computing Development (2026).” The report highlights that China’s computing equipment is accelerating its iteration toward higher energy efficiency. By the end of June 2026, China’s intelligent computing power reached 2185 EFLOPS. New technologies such as liquid cooling, high-speed optical interconnects, and novel storage architectures have become essential for building high-density intelligent data centers, supporting the coordinated development of computing industry scale, performance, and energy efficiency. The report also notes that China is advancing in tandem the centralized layout and green transformation of its computing infrastructure. By the end of 2025, over 13.73 million standard server racks had been deployed nationwide, with 42 intelligent computing clusters each comprising over 10,000 GPUs established. More than 80% of the nation’s intelligent computing capacity is concentrated in the eight national computing hubs. Significant progress has been made in improving green and low-carbon standards, with over 160 data centers nationwide awarded Grade 4A or higher green data center certification. In terms of green coordination between computing and energy, computing-power-electricity integration has moved from concept to practice. The top-level policy framework continues to improve, with computing-power-electricity coordination formally included in the 2026 Government Work Report. Several benchmark projects for computing-power-electricity coordination have been completed, with continuous breakthroughs in technological and market mechanism innovations. Integrated electricity-carbon-computing scheduling technologies are enabling flexible participation of computing loads in grid peak shaving, while pilot programs such as direct green power connections have been implemented. In 2025, China’s computing infrastructure consumed 170 billion kilowatt-hours of electricity, representing a year-over-year increase of approximately 30%. In terms of green coordination between computing and usage, computing networks, token economies, and computing power exports have emerged as new growth poles. The national integrated computing network is rapidly taking shape. Large models are driving the rapid rise of token economies; by March 2026, China’s daily average token invocation volume surged from approximately 100 billion at the beginning of 2024 to around 140 trillion—more than a thousandfold growth. (Xinhua News Agency)
Global bond market sees sell-off; Panda bond issuance reaches record high
Recently, long-term government bond yields in major global economies have continued to rise, intensifying selling pressure in the bond market. In contrast, China’s bond and foreign exchange markets have remained relatively stable, with the issuance scale of Panda Bonds reaching a record high for the same period. Data shows that as of August 21, the cumulative issuance volume of 2026 Panda Bonds reached RMB 209.975 billion, a year-over-year increase of over 73%. Amid sharp volatility in the global bond market, increased foreign institutional financing in renminbi within China has drawn attention. Industry experts explain: “We are in a completely different economic and monetary cycle from overseas. Foreign investors account for only about 5%–8% of China’s bond market, with domestic investors holding decisive pricing power. Coupled with our monetary policy that prioritizes domestic conditions, external shocks cannot reverse the overall trend of the domestic bond market.” Looking ahead, experts believe that overseas bond yields are likely to remain highly volatile, highlighting the investment value of renminbi-denominated bonds, which may attract sustained foreign allocation over the medium to long term. However, it should be noted that rising U.S. Treasury yields have raised the return threshold for global allocation funds, potentially dampening foreign institutions’ willingness to increase holdings of renminbi bonds. Additionally, the rapid rise in bond yields among developed countries abroad may also constrain valuations of domestic risk assets. (CCTV Finance)
Stock market
U.S. stocks closed higher last Friday, with the Dow Jones, S&P 500, and Nasdaq rising 0.98%, 0.43%, and 0.44% respectively, but all three indices posted weekly declines, ending the S&P and Nasdaq’s three-week winning streak, while the Dow posted its second consecutive weekly loss.
The market was primarily driven by fluctuations in bond yields and uncertainty surrounding the Middle East situation. As the U.S. Treasury announced the potential expansion of its Treasury repurchase program, investor concerns about a one-sided rise in yields eased. On the day, the materials sector led gains, while the utilities sector posted the largest losses. Oil prices rose for the sixth consecutive day due to supply risks from Iran, further intensifying inflationary concerns.
Individually, Ross Stores rose 4.4% after raising its annual profit forecast. Looking ahead to next week, market focus will shift to earnings reports from tech companies like NVIDIA, the July PCE inflation data, and remarks by the Federal Reserve Chair at the Jackson Hole Symposium.
Gold Market
Spot gold rose nearly 2% last Friday, reaching a high of $4,632.10 per ounce, the highest since May 15, and gained over 5% for the week, marking its third consecutive weekly increase.
This rally was supported by gold breaking through the closely watched 200-day moving average (approximately $4,513 per ounce), a key technical level that technical analysts view as a bullish signal, alongside a weaker dollar, as markets question whether the U.S. Treasury’s plan to expand its bond repurchase program could undermine confidence in the dollar.
TD Securities strategists noted that if the momentum continues, the next target will be $4,700 per ounce, while Goldman Sachs reported that renewed global macro hedging demand has boosted bullish options demand for gold, creating a mechanical price amplification effect.
On the physical demand side, retail buying in India has been restrained by high prices, but demand in China remains steady; other precious metals also rose in tandem, with spot silver, platinum, and palladium rising 2.3%, 2.8%, and 0.8% respectively, as all precious metals ended last week higher.
Oil market
Oil prices rose last Friday as U.S. President Trump threatened economic sanctions on Iran’s trading partners, raising market expectations of tighter supply in the coming weeks; Brent crude closed up 0.73% at $93.86 per barrel, while U.S. crude closed up 0.5% at $86.64, with both rising 5.93% and 5.15% respectively for the week.
Again Capital partners stated that sanctions have long been the primary tool for pressuring Iran, with Iran responding that it will launch "devastating" retaliation against any new threats. However, Empire FX analysts noted that, given Iran’s exports are already severely restricted by U.S. maritime blockades, the direct supply impact may be limited; yet, with shipping volumes in the Strait of Hormuz still far below normal levels, increased maritime incidents and retaliatory actions could heighten tensions.
Price Futures Group analysts believe the market is seeking alternative supplies through pipelines, U.S. shale oil, recovering Venezuela, the UAE, and other sources. Additionally, ongoing production cuts by major oil-producing nations continue to support oil prices, and neither the U.S. nor Iran has attempted to restart negotiations since the peace agreement expired this week. Vessel tracking data shows that only seven commodity ships passed through the Strait of Hormuz last Thursday, half the number from the previous day.
Forex
The US Dollar Index closed at 98.55 last Friday, with the US dollar falling to its lowest level against the euro in three months, as markets grew increasingly concerned that the US Treasury’s plan to expand repurchase operations for longer-term Treasuries could further weigh on the dollar. Treasury Secretary Bessent indicated that repurchase volumes might be increased further, following the Treasury’s unexpected commitment the previous day to at least double the scale of repurchases to curb rising yields. However, analysts noted that this move failed to effectively suppress US Treasury yields and instead weakened the dollar. Bannockburn Global Forex’s chief strategist said, “The market is pushing back.”
The euro reached a high of 1.1711, its highest level since May 14, before closing at 1.1679, while sterling against the US dollar touched a high of 1.3675, its highest level since February 11. The market’s next test will be Federal Reserve Chair Walsh’s speech in Jackson Hole this Friday; TD Securities believes the dollar faces downside risks, and if Walsh fails to address concerns about the credibility of inflation-fighting measures, it could further pressure the dollar.
Federal funds rate futures show a 40% probability of a rate hike in September and 72% by December. The yen edged up to 159.01 against the dollar, supported by accelerating core inflation in Japan in July, but analysts say the yen may resume its downward trend unless the Bank of Japan tightens policy, with markets focusing on its September 17-18 policy meeting.
International News
The U.S. seeks to launch an unprecedented economic war; Iran unveils its "oil export countermeasure card"
Following U.S. President Trump's announcement of an "unprecedented" economic war against Iran, U.S. Treasury Secretary Bentsen confirmed that specific measures for "unprecedented economic isolation" of Iran will be officially revealed on the 24th. In response, Iran unveiled its "oil export countermeasure" on the 23rd, stating that if the U.S. launches an economic war, oil exports from the Strait of Hormuz and the entire Persian Gulf region will cease. With less than 24 hours remaining until the U.S. discloses the details of its sanctions, public opinion generally views this as a desperate move by the U.S. amid the ongoing stalemate in U.S.-Iran hostilities and failed negotiations. Although the specific measures have not yet been announced, analyses suggest this action may ultimately lead to a "lose-lose-lose" outcome. (CCTV News)
Iran's Foreign Minister: Iran has never feared U.S. sanctions
On the 23rd local time, Iranian Foreign Minister Alireza阿拉格齐 stated that Iran has never feared U.S. sanctions, and all of their actions—whether blockades or military operations—have failed; this new tactic will also fail. The so-called "economic actions" claimed by Trump are merely the United States'一贯 bullying tactics. "In a sense, it's like a movie we've seen countless times before—we know how to respond," Alireza阿拉格齐 said, adding that whether the U.S. resorts to military action or revives old tactics, it demonstrates they are running out of options. Faced with the Iranian people, the U.S. has no choice but to repeatedly recycle the same plans; they should understand that there is no alternative except engaging in respectful dialogue with the Iranian people and seeking solutions based on justice and dignity. (CCTV)
Iranian President: The country is in a state of total war; the U.S. misjudged Iran's collapse before the war
Iranian President Pezeshkian stated that Iran is currently facing a "comprehensive economic, military, and security war." He emphasized that Washington had wrongly predicted prior to conflict that Iran would quickly collapse under U.S. aggression and become like Venezuela, but reality has surprised the world with Iran's "resistance, unity, and cohesion." In response to Trump's announcement of imposing "the harshest sanctions" on Iran, Pezeshkian said Iran will stand firm and strive to confront this "asymmetric war" by combining internal mobilization with diplomatic efforts to resist external pressure. Currently, Iran is leveraging its control over the Strait of Hormuz as a strategic asset, maintaining its military-industrial production capacity amid a six-month-long conflict, while underscoring domestic resolve. Additionally, Iran has incorporated renewable energy development into its plan to alleviate energy imbalances and strengthen internal economic resilience.
Iran's security chief: Continue closing the Strait of Hormuz until the U.S. fulfills its commitments; warns neighbors not to participate in economic warfare
The Secretary of Iran’s Supreme National Security Council, Rezaei, stated that Iran will eliminate the economic pressure imposed by the United States and respond to countries participating in America’s “economic war” against Iran. He said the U.S. has been “cornered” and must either honor its commitments or face further escalation. Iran has clearly warned all its neighbors not to launch an economic war against it, or they will be regarded as hostile states and face Iranian countermeasures. Rezaei emphasized that reopening the Strait of Hormuz has not yet been considered; the U.S. must first fulfill its commitments to cease aggression and refrain from interfering with maritime traffic in the region. He revealed that Iran and Oman have reached a “paper agreement” on a commercial route passing through the strait, but the strait will be reopened once the U.S. fulfills its obligations. He stressed that the Strait of Hormuz is “part of Iran’s identity,” and Iran will not relinquish its control over it. Rezaei said that following U.S. and Israeli aggression, Iran’s defense strategy and diplomatic conduct have undergone a fundamental transformation. “Today’s Iran is no longer the pre-war Iran,” and international perceptions of Iran have also changed. Iran will incorporate lessons from the conflict into its future military planning and adjust its diplomatic approach to counter U.S. violations of commitments. The recent appointment of experienced commanders by the Supreme Leader signals that Iran will adopt new operational methods in the next phase. Rezaei stated that Iran does not seek war but will continuously resist hostile actions. He warned the U.S. not to increase its military presence in the Middle East, or Iran will respond with force. At the same time, he affirmed that Iran remains committed to diplomatic channels, but its negotiation approach has changed—Tehran will wait for the other side to fulfill its commitments, with goals including ending wars in Iran, Lebanon, Gaza, and Yemen. He also noted that despite maritime blockades, Iran exported 70 million barrels of oil over the past one to two months.
Trump: U.S. military can be deployed to intervene in the bond market
On August 21 local time, U.S. President Trump told the media that he did not instruct Treasury Secretary Bentsen to intervene in the bond market this week. When asked what other intervention measures could be taken if U.S. long-term bond yields rise again, Trump said, “The ultimate intervention is the U.S. military; if necessary, we will deploy the military.” (CCTV International News)
U.S.-Canada trade talks break down; the U.S. imposes a 50% tariff on select Canadian goods starting Saturday
U.S. Trade Representative Greer stated that Canada has refused to finalize a bilateral trade agreement and continues to maintain retaliatory measures against the United States, leading to a deadlock in negotiations. A senior official revealed that the U.S. had offered Canada more favorable access to the American market, a deal that would have significantly lowered tariffs and made Canada the country with the most favorable trade terms with the U.S. among all exporting nations. The official also noted that the U.S. provided generous concessions on automobile exports to Canada, yet Canada still chose not to accept them. According to senior officials in the Trump administration, pursuant to Section 338 of the Tariff Act of 1930, the United States will impose a 50% tariff on certain Canadian imported goods, a measure that took effect at 12:01 a.m. Eastern Time on Saturday.
Iranian parliamentary committee approves Hormuz Strait toll plan; fee mechanism faces legislative and international resistance
The Iranian National Security and Foreign Policy Committee has approved Article 3 of a legislative proposal permitting Iran to charge fees for vessels authorized to transit the Strait of Hormuz. This measure is part of the “Strategic Action Plan for Ensuring the Security and Development of the Strait of Hormuz,” with Tehran stating that the fees would cover maritime services, environmental services, fuel supply, insurance, security, and related activities, payable in Iranian rials or other designated currencies. Iran emphasizes that the proposed legislation does not disregard international maritime rules; the draft acknowledges the right of innocent passage under international law while affirming the sovereignty and security rights of littoral states, citing the 1982 United Nations Convention on the Law of the Sea and Oman’s relevant position. The Strait of Hormuz has become one of the primary points of contention in U.S.-Iran tensions, as Tehran seeks to expand its control over conditions for using the waterway, with this fee proposal serving as a core initiative to reinforce its regulatory claims. Commercial shipping through the Strait has declined sharply, with only a handful of vessels passing recently, compared to over 130 vessels daily before the conflict. Although Iran permits some Iraqi tankers to transit, overall access remains selectively restricted. The proposal must be approved by the full Iranian Parliament and submitted to the Guardian Council for review; if disagreements arise, the Expediency Discernment Council may intervene. The United States has previously rejected Iran’s attempts to strengthen control over the Strait and continues to enforce blockades on Iranian ports, creating uncertainty for shipping companies navigating conflicting policies. Any prolonged restriction could trigger a chain reaction of global supply shortages, increased transportation costs, and higher insurance premiums. As Iran advances its formal fee system while the U.S. maintains pressure, the Strait of Hormuz is simultaneously becoming a flashpoint for military conflict and a frontline for economic competition. If ultimately approved, the bill will provide Iran with a formal legal framework to charge authorized vessels.
Domestic News
The report shows: China's efforts to green the entire computing power chain have yielded initial results.
Currently, China’s computing power capacity is growing rapidly, with computing equipment upgrading toward higher energy efficiency, computing infrastructure undergoing positive green transformation, and computing-power-electricity coordination transitioning from concept to practice. New models and emerging industries such as computing networks, token economies, and computing power exports have become new growth engines. This latest update was revealed on the 22nd at the 2026 Green Computing (Artificial Intelligence) Conference held in Hohhot, Inner Mongolia Autonomous Region. At the conference’s opening ceremony, Ao Li, Deputy President of the China Academy of Information and Communications Technology, released the “Research Report on Green Computing Development (2026).” The report highlights that China’s computing equipment is accelerating its iteration toward higher energy efficiency. By the end of June 2026, China’s intelligent computing power reached 2185 EFLOPS. New technologies such as liquid cooling, high-speed optical interconnects, and novel storage architectures have become essential for building high-density intelligent data centers, supporting the coordinated development of computing industry scale, performance, and energy efficiency. The report also notes that China is advancing in tandem the centralized layout and green transformation of its computing infrastructure. By the end of 2025, over 13.73 million standard server racks had been deployed nationwide, with 42 intelligent computing clusters each comprising over 10,000 GPUs established. More than 80% of the nation’s intelligent computing capacity is concentrated in the eight national computing hubs. Significant progress has been made in improving green and low-carbon standards, with over 160 data centers nationwide awarded Grade 4A or higher green data center certification. In terms of green coordination between computing and energy, computing-power-electricity integration has moved from concept to practice. The top-level policy framework continues to improve, with computing-power-electricity coordination formally included in the 2026 Government Work Report. Several benchmark projects for computing-power-electricity coordination have been completed, with continuous breakthroughs in technological and market mechanism innovations. Integrated electricity-carbon-computing scheduling technologies are enabling flexible participation of computing loads in grid peak shaving, while pilot programs such as direct green power connections have been implemented. In 2025, China’s computing infrastructure consumed 170 billion kilowatt-hours of electricity, representing a year-over-year increase of approximately 30%. In terms of green coordination between computing and usage, computing networks, token economies, and computing power exports have emerged as new growth poles. The national integrated computing network is rapidly taking shape. Large models are driving the rapid rise of token economies; by March 2026, China’s daily average token invocation volume surged from approximately 100 billion at the beginning of 2024 to around 140 trillion—more than a thousandfold growth. (Xinhua News Agency)
Global bond market sees sell-off; Panda bond issuance reaches record high
Recently, long-term government bond yields in major global economies have continued to rise, intensifying selling pressure in the bond market. In contrast, China’s bond and foreign exchange markets have remained relatively stable, with the issuance scale of Panda Bonds reaching a record high for the same period. Data shows that as of August 21, the cumulative issuance volume of 2026 Panda Bonds reached RMB 209.975 billion, a year-over-year increase of over 73%. Amid sharp volatility in the global bond market, increased foreign institutional financing in renminbi within China has drawn attention. Industry experts explain: “We are in a completely different economic and monetary cycle from overseas. Foreign investors account for only about 5%–8% of China’s bond market, with domestic investors holding decisive pricing power. Coupled with our monetary policy that prioritizes domestic conditions, external shocks cannot reverse the overall trend of the domestic bond market.” Looking ahead, experts believe that overseas bond yields are likely to remain highly volatile, highlighting the investment value of renminbi-denominated bonds, which may attract sustained foreign allocation over the medium to long term. However, it should be noted that rising U.S. Treasury yields have raised the return threshold for global allocation funds, potentially dampening foreign institutions’ willingness to increase holdings of renminbi bonds. Additionally, the rapid rise in bond yields among developed countries abroad may also constrain valuations of domestic risk assets. (CCTV Finance)