US side: Chicago Purchasing Managers Index 49.4, expected 50.6, the former value 46.2; June consumer confidence index 101.4, expected 97.1, the former value 95.4; June ADP employment change 237 thousand, is expected to 218 thousand, the former value is 201 thousand; in June, Markit Manufacturing Purchasing Managers Index is 53.6, the expected and former value is 53.4; June ISM manufacturing index is 53.4, the highest since January; last week, the number of unemployed unemployment is expected, the expected value is expected to be;

　　歐元區(qū)方面：歐元區(qū)6月消費(fèi)者信心指數(shù)終值-5.6，預(yù)期-5.5，前值-5.6;歐元區(qū)6月企業(yè)、工業(yè)及經(jīng)濟(jì)信心指數(shù)分別為0.14、-3.4和103.5，都較上月回落;德國6月失業(yè)率(季調(diào)后)為6.4%;德國5月實(shí)際零售銷售年率-0.4%，大幅弱于預(yù)期和前值，月率為0.5%，也大幅低于前值;英國第一季度GDP年率終值2.9%，預(yù)期為2.5%，前值為2.4%;月率為0.4%，預(yù)期0.4%，前值0.3%;意大利、法國、德國、英國和歐元區(qū)6月制造業(yè)采購經(jīng)理人指數(shù)為54.1、50.7、51.9、51.4和52.5，法國好于預(yù)期和前值，繼續(xù)擴(kuò)張，意大利于和英國萎縮，德國和歐元區(qū)持平;歐元區(qū)6月綜合采購經(jīng)理人指數(shù)終值54.2，預(yù)期和前值為54.1;歐元區(qū)5月零售銷售年率為2.4%，預(yù)期為2.3%，前值為2.2%;希臘同國際債券人談判破裂，希臘關(guān)閉銀行并實(shí)施資本管制，周日舉行公投。

China: in June, the purchasing managers' index of manufacturing industry was 50.2, which was expected to be 50.4, the former value was 50.2, four months above the ups and downs line; the non Manufacturing Purchasing Managers Index was 53.8, the former value was 53.2; in June, the HSBC Manufacturing Purchasing Managers Index was 49.4, expected 49.6, the former value 49.6; the domestic stock market fell sharply, the shock intensified, and the recent bailout market.

Frequent moves, such as suspending the issuance of new shares and setting up funds to stabilize the stock market, show that the government is determined to intervene in the stock market and maintain liquidity in the stock market.

This week's ICE cotton futures price is on the high side. It is mainly supported by some positive factors. First, in June 30th, the US Department of Agriculture released the actual planting area report of the US cotton 2015/16. The actual planting area of the United States cotton in the year of 8 million 998 thousand is about 18.47% acres, a decrease of 18.47% Mu compared with the same period in March. Compared with the 9 million 549 thousand acre planting area in March, it reduced 551 thousand acres, of which the land cotton area was 8 million 850 thousand acres, a decrease of 18.40% over the same period last year; Pima cotton 148 thousand acres, a decrease of 22.92% over the same period.

The report estimates that the data are below 9 million 150 thousand acres expected by the market, and the estimated data is the lowest level since 1983.

Rainfall in Texas, the largest cotton producing state in the United States, has impeded cotton planting. The sowing rate in this state has been slower than in previous years and in other states, which may cause a decrease in planting area. Other cotton producing areas also cause delays in the accumulation of water and planting in the cotton fields due to excessive rainfall in spring.

The US Department of Agriculture said it would investigate Dezhou again after the recent floods.

The reduction in planting area is expected to be the most important factor in the week, supporting Tuesday's price increase; two is good sales data from the US cotton market, and the US Department of agriculture's cotton exports on Thursday.

In the week of June 25th, cotton exports in the US 2014/15 were net sales of 80500 packs, an increase of 33% over the previous week, an increase of 22% over the previous four weeks. The main export destinations were Vietnam, Indonesia and Turkey. During the week, the United States 2014/15 cotton export shipment of 230400 packs, an increase of 23% over the previous week, mainly to Vietnam, Indonesia and Mainland China, according to the US Department of agriculture, as of June 18th, the US 2014/15 year.

The net export volume reached 2 million 523 thousand tons, reaching 107% of the USDA forecast, which is 104% higher than that of the same period last year.

US cotton shipments totaled 2 million 206 thousand tons, reaching 94% of USDA forecast, 93% higher than that of the same period last year. Whether from weekly or overall, the US cotton sales overall are better; three is China's dumping and storage, according to the price announced by the Chinese government, we can see that the reserve price of cotton auction is higher than the current price, and high price dumping is beneficial to the stability of domestic and international cotton prices.

The above factors supported the December contract price, which stayed near 68 cents, and hit a 11 month high on Thursday.

　　從本周的走勢也可以看出，這些利好因素影響有限，價(jià)格沒有形成實(shí)質(zhì)漲幅，周二盤中還出現(xiàn)大幅的下挫，顯然棉價(jià)還是受一些利空因素所束縛，本周的主要利空因素一是希臘目前的緊急援助計(jì)劃周二到期，其與國際債券人間關(guān)于緊急救助的談判破裂，投資者擔(dān)心沒有了國際援助貸款，希臘將違約并開始退出歐元區(qū)，投資者的風(fēng)險(xiǎn)厭惡情緒造成全球股市、大宗商品等資產(chǎn)市場被大量拋售，棉花也受此負(fù)面影響;二是年末庫存居于高位，需求改善阻力重重，國際棉花咨詢委員會周三公布的數(shù)據(jù)顯示，2015/16年度全球棉花產(chǎn)量為2392萬噸，消費(fèi)量2491萬噸，產(chǎn)量上調(diào)而需求預(yù)估下降，全球年末庫存上調(diào)11萬噸至2090萬噸，棉花結(jié)轉(zhuǎn)庫存繼續(xù)上升，供應(yīng)過剩有加重之勢，中國和印度都在釋放儲備棉，供應(yīng)增加需求卻沒有相應(yīng)增加，加上美元走強(qiáng)，市場多頭信心不足，之前一

After the week rose, speculators bought the market to cool down, and investors took profits before the long weekend holidays, which inhibited the rebound in prices and fell slightly in the adjustment.