→ → Gold:
In the short term, gold has maintained a volatile adjustment and has not escaped the correction of the 4-hour level structurally. At the same time, the correction of the US dollar index and US bond yields has led to a significant rebound in structurally unfavorable gold prices. Currently, it is still within the 4-hour level decline channel and is mainly waiting for stabilization. If short-term pressure cannot be broken around 1965, the adjustment will continue. If it falls below 1945, it is not ruled out that the test channel supports 1920.
→ → USD:
The rebound in the US dollar index was mainly due to the hawkish statement by Federal Reserve Chairman Powell, stating that the possibility of further interest rate hikes has increased. This corrected the previous feedback from non farm data on the expected downward trend of interest rate hikes, and structurally, the US dollar remains in a range of volatility, with high selling and low buying being the main focus.
→ → Euro to USD:
The euro fluctuated and fell yesterday, with a slight daily decline and spot exchange trading around 1.0670. The US dollar index, supported by hawkish comments from Federal Reserve Chairman Powell and strong economic data, hit the 106.00 level, which is the main reason for the pressure on the euro to weaken. However, the Vice President of the European Central Bank stated that it is too early to discuss interest rate cuts, and the statement that there is still an upward risk of inflation limits the downward space for exchange rates. Today, we will focus on the pressure situation around 1.0750, with support below around 1.0600.
→ → US WTI crude oil:
... US crude oil remains low and volatile in the short term. At present, the fundamentals are short, mainly because the pressure on the demand side is expected to continue to depress oil prices, and the bulls are powerless after the tension on the supply side has dissipated. In the day, continue to pay attention to whether there is a possibility of further decline in US bond yields, and boost the market bias. The 4-hour level support of US $75 will not break, and then wait for a rebound, with the upper pressure around US $79.
→ → GBP to USD:
The pound fluctuated and fell yesterday, breaking a four day low, with spot exchange trading around 1.2220. The sustained rebound in the US dollar index after several hawkish comments from Federal Reserve officials reignited expectations of interest rate hikes is the main reason for the pressure on the pound's decline. In addition, concerns that the UK may have fallen into recession have also put some pressure on the exchange rate. Today, we will focus on the pressure situation around 1.2300, with support below around 1.2150.
