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International financial market early knowledge: September 3

**Information Guide**

- United Nations mediates the crisis at the Central Bank of Libya

- Eurozone August manufacturing PMI final value recorded at 45.8

- South Korea to reduce the size of the foreign exchange stabilization fund next year

**Market Information**

- The United Nations Support Mission in Libya (UNSMIL) held talks in Tripoli on Monday to address the crisis at the Central Bank of Libya, which has prevented the bank from conducting transactions for over a week. Representatives from the House of Representatives, the Supreme Council, and the Presidential Council participated in the talks. UNSMIL stated that significant consensus was reached among the parties on resolving the banking crisis. The representatives agreed to submit a draft to their respective institutions for review, with the goal of finalizing and signing the agreement on Tuesday. Amidst the central bank crisis, the National Oil Corporation (NOC) of Libya announced in a statement that the El Feel oilfield entered a force majeure status starting September 2nd.

- A Reuters survey on Monday revealed that OPEC's oil production in August fell to its lowest level since January due to the National Oil Corporation (NOC) of Libya declaring "force majeure" at its El Feel oilfield. The reduction in Libyan supply exacerbated the impact of voluntary production cuts already underway by other member countries and OPEC+. The survey indicated that OPEC's production in August was 26.36 million barrels per day, a decrease of 340,000 barrels per day from July, with Libya's August production falling by approximately 290,000 barrels per day compared to July.

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- The Central Bank of Russia set the official ruble exchange rate for September 3rd at 90.0013 rubles per US dollar.

- The latest research forecast by Omdia predicts that by 2028, the global gaming subscription market will generate over $27 billion in revenue. Gaming subscription spending is expected to reach $19 billion in 2024, marking the second consecutive year of double-digit growth following a dip in revenue in 2022.

- The final value of the UK's August manufacturing PMI was 52.5, the same as the preliminary value.- The Eurozone's final Manufacturing PMI for August recorded at 45.8, with the preliminary value at 45.6, and the final value for July at 45.8.

- Germany's final Manufacturing PMI for August recorded at 42.4, with the preliminary value at 42.1, and the final value for July at 43.2.

- France's final Manufacturing PMI for August recorded at 43.9, with the preliminary value at 42.1, and the final value for July at 44.0.

- Switzerland's actual retail sales in July rose by 2.7% year-on-year, with the previous value revised from a decrease of 2.2% to a decrease of 2.6%.

- The Japanese Ministry of Health, Labour and Welfare released statistical data showing that the number of births in Japan in the first half of the year was 350,074, a year-on-year decrease of 5.7%. This marks the third consecutive year of being below 400,000, setting a new record low for the first half of the year since comparable data began in 1969. The total number of births in 2024 may also fall below 700,000 for the first time.

- South Korea will cut the size of its foreign exchange stabilization fund by a record 30% or more next year.

- The Central Bank of Argentina (BCRA) stated in a release on Monday that it has successfully transferred gold between multiple accounts. BCRA indicated that Argentina's total gold reserves remain around $4.98 billion.

- The World Gold Council (WGC) disclosed that India's consumer demand for gold bars, coins, and jewelry reached 288.7 tons in the first half of 2024, a year-on-year increase of 1.5%; due to India's adjustment of the gold tax system, it is expected that India's gold consumption in the second half of the year may increase by more than 50 tons beyond expectations.

【Global Market Dynamics】

- The US oil contract for October rose by 0.67%, trading at $74.04 per barrel. The Brent oil contract for November rose by 0.45%, trading at $77.28 per barrel.**COMEX Gold Futures up 0.16% at $2531.7 per ounce, COMEX Silver Futures down 0.73% at $28.93 per ounce.**

**The US Dollar Index, which measures the greenback against six major currencies, fell by 0.05%, closing at 101.653 in the foreign exchange market. As of the end of the New York foreign exchange market, 1 euro was exchanged for 1.1071 US dollars, higher than the previous trading day's 1.1052 US dollars; 1 British pound was exchanged for 1.3146 US dollars, higher than the previous trading day's 1.3122 US dollars. 1 US dollar was exchanged for 146.89 Japanese yen, higher than the previous trading day's 146.10 Japanese yen; 1 US dollar was exchanged for 0.8514 Swiss francs, higher than the previous trading day's 0.8504 Swiss francs; 1 US dollar was exchanged for 1.3492 Canadian dollars, higher than the previous trading day's 1.3486 Canadian dollars; 1 US dollar was exchanged for 10.2510 Swedish kronor, lower than the previous trading day's 10.2722 Swedish kronor.**

**The onshore renminbi against the US dollar closed at 7.1115 at 16:30, down 234 basis points from the previous trading day, and the night session closed at 7.1170. The offshore renminbi against the US dollar fell by 262 basis points to 7.1166.**

**Key Focus for the Day:**

**14:30 Swiss August CPI Month-on-Month**

**21:45 US August S&P Global Manufacturing PMI Final**

**22:00 US August ISM Manufacturing PMI**

**22:00 US July Construction Spending Month-on-Month**

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