The U.S. dollar index returned to the 103 mark; gold once plunged nearly $40 from its intraday high!
Abstract：The monthly rate of retail sales in the United States in July was 1%, far exceeding expectations; the number of initial claims last week was slightly lower than expected, falling to the lowest level since July; traders cut their expectations of a rate cut by the Federal Reserve, and interest rate futures priced that the Federal Reserve would reduce the rate cut to 93 basis points this year. The probability of a 50 basis point rate cut in September fell to 27%. The data broke the expectation of a
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The monthly rate of retail sales in the United States in July was 1%, far exceeding expectations; the number of initial claims last week was slightly lower than expected, falling to the lowest level since July; traders cut their expectations of a rate cut by the Federal Reserve, and interest rate futures priced that the Federal Reserve would reduce the rate cut to 93 basis points this year. The probability of a 50 basis point rate cut in September fell to 27%. The data broke the expectation of a rate cut in the United States this year, which is bullish for the US dollar and US stocks.
Japan reduced its holdings of US Treasuries by US$10.6 billion in June, while China increased its holdings by US$11.9 billion. The yen is accelerating its decoupling with the United States, which is bullish for the yen.
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Forex
📝 Review:On Thursday, strong U.S. economic data led traders to cut their bets on the Federal Reserve's rate cuts. The dollar index rose strongly after the release of retail sales data, standing above the 103 mark. It finally closed up 0.439% at 103.05. U.S. Treasury yields jumped during the session, with the benchmark 10-year Treasury yield closing at 3.915%; the two-year Treasury yield closed at 4.101%.
🕵️ Operation suggestion:
USD/JPY 149.084 Buy Target Price 151.961
Gold
📝 Review:Affected by the strengthening of the U.S. dollar and U.S. bond yields, spot gold once fell nearly $40 from its intraday high. It then bottomed out and rebounded, eventually closing up 0.35% at $2,456.49 per ounce. Spot silver finally closed up 2.88% at $28.36 per ounce.
🕵️ Operation suggestion:
Gold 2459.68 Buy Target Price 2476.54
Crude Oil
📝 Review:International oil prices rebounded as economic data eased concerns about a recession in the world's largest economy, supporting confidence in the outlook for crude oil demand. WTI crude oil eventually closed up 1.17% at $78.05 per barrel, while Brent crude oil closed up 1.18% at $80.92 per barrel.
🕵️ Operation suggestion:
WTI Crude Oil 76.796 Sell Target Price 75.663
Indice
📝 Review:The three major U.S. stock indexes closed up collectively, with the Dow Jones Industrial Average up 1.3%, the S&P 500 up 1.6%, and the Nasdaq up 2.3%. Intel (INTC.O) rose 3.8%, Nvidia (NVDA.O) rose 4%, Tesla (TSLA.O) rose 6%, and Amazon (AMZN.O) rose 4%. The Nasdaq China Golden Dragon Index closed up 1.7%, Alibaba (BABA.N) rose slightly, JD.com (JD.O) rose more than 4%, and NIO (NIO.N) rose 3%.
🕵️ Operation suggestion:
Nasdaq 100 19503.950 Buy Target Price 19712.277
Crypto
📝 Review:From the overall trend, the Bitcoin market is currently in a state of fierce competition between long and short sides, but no clear winner has been determined yet. As of the latest trading session, the Bitcoin price is still below 59,800 points. If the Bitcoin price starts to show an upward trend on the daily level, then 57,610 points may become a solid support point in the future that is difficult to break through easily.
🕵️ Operation suggestion:
BitCoin 57462.2 Sell Target Price 54282.4
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