澳大利亚10年期政府债券收益率升至4.25%左右，在短暂触及四周低点后反弹，因为通货膨胀的急剧上升促使人们重新评估货币政策前景。7月份，TD-MI通胀指标飙升0.9%，为2023年12月以来的最高月度涨幅，加剧了澳大利亚储备银行对供应链和消费者需求的持续担忧。澳大利亚储备银行仍预计核心通胀将逐步缓解，但到2025年底仍将保持在2-3%目标范围的上半部分，而随着家庭能源补贴的逐步取消，整体通胀预计将在年底接近该范围的顶部，并在2026年保持高位。州长米歇尔·布洛克最近还警告了外部风险，包括脆弱的全球前景，这可能会加剧进口通胀，扰乱澳大利亚依赖贸易的经济。为了缓解贸易担忧，美国维持了对澳大利亚商品10%的基准关税不变。

Australia’s 10-year government bond yield rose to around 4.25%, rebounding after briefly touching a four-week low, as a sharp rise in inflation prompted a reassessment of the monetary policy outlook. The TD-MI Inflation Gauge surged 0.9% in July, the highest monthly increase since December 2023, reinforcing the RBA’s lingering concerns about supply chains and consumer demand. The RBA still expects core inflation to ease gradually but remain in the upper half of its 2–3% target range through late 2025, while headline inflation is forecast to approach the top of the range by year-end and stay elevated into 2026 as household energy subsidies are phased out. Governor Michele Bullock also recently warned of external risks, including a fragile global outlook, which could fuel imported inflation and disrupt Australia’s trade-dependent economy. Helping ease trade concerns, the US left the 10% baseline tariff on Australian goods unchanged.

周一，澳元走强至0.647美元左右，延续了前一交易日的涨幅，因为澳大利亚免除了最新一轮美国关税上调后，市场情绪仍然乐观。上周，特朗普总统宣布了10%的全球基准关税，并对没有贸易协定的国家征收高达41%的互惠关税。尽管早些时候有警告称可能会增加到15-20%，但澳大利亚避免了更严厉的处罚，保留了10%的基本税率。白宫将这种宽大处理归因于正在进行的贸易和安全谈判的进展，并指出澳大利亚是接近与美国达成全面协议的国家之一。在国内，墨尔本研究所的澳大利亚月度通胀指标在2025年7月攀升了0.9%，这是自2023年12月以来的最大月度增幅，高于上个月的0.1%。投资者现在将注意力转向即将公布的PMI数据，以获得更清晰的经济前景信号。

The Australian dollar strengthened to around $0.647 on Monday, extending gains from the previous session, as market sentiment remained upbeat following Australia’s exemption from the latest round of US tariff hikes. Last week, President Trump announced a 10% baseline global tariff and introduced reciprocal duties of up to 41% on countries without trade agreements. Despite earlier warnings of a potential increase to 15–20%, Australia avoided harsher penalties, retaining the base 10% rate. The White House attributed this leniency to progress in ongoing trade and security negotiations, noting that Australia is among a group of countries nearing comprehensive agreements with the US. Domestically, Australia’s Monthly Inflation Gauge by the Melbourne Institute climbed 0.9% in July 2025—the largest monthly increase since December 2023—up from a 0.1% rise in the previous month. Investors now turn their attention to upcoming PMI figures for clearer signals on the economy’s outlook.

澳大利亚私人调查显示，7月份月度通胀急剧加速，创19个月新高。墨尔本研究所的月度通胀指标在7月份飙升0.9%，创下19个月来最大月度涨幅。按年度计算，通货膨胀率从6月份的2.4%上升到2.9%，这表明经济再次面临价格压力。

Australian private survey monthly inflation accelerates sharply in July, hit 19-month high.The Melbourne Institute's monthly inflation gauge surged by 0.9% in July, marking the largest monthly increase in 19 months. On an annual basis, inflation rose to 2.9%, up from 2.4% in June, signalling renewed price pressures in the economy.

标准普尔/澳交所200指数周一小幅下跌0.2%，至8642点，延续了上周的跌幅，并追随了上周五华尔街的抛售。特朗普总统宣布对众多贸易伙伴征收10%至41%的新一轮互惠关税后，美国市场下跌。然而，澳大利亚避免了这些关税的冲击。贸易部长唐·法雷尔证实，美国对澳大利亚出口保持10%的基准关税，这是受影响国家中最低的税率，部分原因是澳大利亚对美国持续的贸易顺差，这是双边谈判的一个关键点。围绕关税的不确定性因对美国劳动力市场疲软的担忧加剧而进一步加剧。在国内，投资者现在正在等待关键数据，包括TD-MI通胀指标（MoM）和即将公布的PMI数据，以进一步了解经济前景。跌幅较大的包括Block，股份有限公司（-4.6%）、Pro-Medicus Limited（-2.8%）和Woodside Energy Group（-1.9%）。

The S&P/ASX 200 edged down by 0.2% to 8,642 on Monday, extending losses from the previous week and tracking the sell-off on Wall Street last Friday. US markets were dragged lower after President Trump announced a new round of reciprocal tariffs ranging from 10% to 41% on numerous trade partners. Australia, however, avoided the brunt of these tariffs. Trade Minister Don Farrell confirmed that the US maintained a baseline 10% duty on Australian exports—the lowest rate among affected countries—thanks in part to Australia’s ongoing trade surplus with the US, a key point in bilateral negotiations. Uncertainty surrounding the tariffs was further exacerbated by deepening concerns over the weakening US labor market. Domestically, investors are now awaiting key data, including the TD-MI Inflation Gauge (MoM) and upcoming PMI figures, for further insights into the economic outlook. Notable decliners included Block, Inc. (-4.6%), Pro Medicus Limited (-2.8%), and Woodside Energy Group (-1.9%).