The U.S. dollar index and U.S. Treasury yields rebounded at the same time; gold fell by more than 1%!
Abstract：The initial value of the US S&P Global Manufacturing PMI in August was 48, which was lower than expected and the lowest in 8 months; the service PMI was 55.2, which exceeded the expected 54. The number of initial jobless claims in the week ending August 17 was 232,000, slightly higher than expected, and the previous value was revised from 227,000 to 228,000. Existing home sales in July increased for the first time in five months. The PMI data was lower than expected, which was bad for the US eco
Hot spot tracking
The initial value of the US S&P Global Manufacturing PMI in August was 48, which was lower than expected and the lowest in 8 months; the service PMI was 55.2, which exceeded the expected 54. The number of initial jobless claims in the week ending August 17 was 232,000, slightly higher than expected, and the previous value was revised from 227,000 to 228,000. Existing home sales in July increased for the first time in five months. The PMI data was lower than expected, which was bad for the US economy and the US dollar.
ECB meeting minutes: Overall inflation is expected to fluctuate around current levels this year. The September meeting is widely seen as a good time to reassess the level of monetary policy restrictions. The general direction of Europe is to focus on quantitative easing monetary policy, and the euro is still bearish in the long run.
Product Hot Comment
Forex
📝 Review:On Thursday, the dollar index broke away from its lows for the year and extended its gains during the release of U.S. PMI and existing home sales data. It finally closed up 0.338% at 101.52. U.S. Treasury yields rebounded collectively, with the benchmark 10-year Treasury yield closing at 3.857%; the two-year Treasury yield regained the 4% mark and finally closed at 4.016%.
🕵️ Operation suggestion:
USD/JPY 146.153 Sell Target Price 144.298
Gold
📝 Review:As Powell was about to deliver a major speech, the rebound of the US dollar and US bond yields put pressure on spot gold to fall. It once approached the 2470 mark during the session, and finally closed down 1.1% at $2484.8/ounce, the largest single-day drop since the beginning of the month. Spot silver fell below the 29 mark and finally closed down 2.1% at $28.98/ounce.
🕵️ Operation suggestion:
Gold 2490.24 Sell Target Price 2449.80
Crude Oil
📝 Review:With the Federal Reserve looming to cut interest rates and hopes of reaching a ceasefire agreement in Gaza dwindling. International oil prices recovered after being oversold. WTI crude oil finally closed up 1.45% at $72.92 per barrel; Brent crude oil finally closed up 1.34% at $77.08 per barrel.
🕵️ Operation suggestion:
WTI Crude Oil 72.846 Buy Target Price 74.061
Indice
📝 Review:The three major U.S. stock indexes fell collectively, with the Dow Jones Industrial Average closing down 0.43%, the S&P 500 down 0.89%, and the Nasdaq down 1.67%. Nvidia (NVDA.O) fell nearly 4%, Tesla (TSLA.O) fell more than 5%, and Intel fell 6%. The Nasdaq China Golden Dragon Index closed down 1.5%, EHang (EH.O) rose 16%, iQiyi (IQ.O) fell 15%, and NetEase (NTES.O) fell 11%.
🕵️ Operation suggestion:
Nasdaq 100 19564.050 Sell Target Price 19235.393
Crypto
📝 Review:Bitcoin's market remained stable last night, and the price continued to fluctuate in the range of $56,000 to $62,000. Only by breaking through this range can a new trend be opened. However, there is a high probability that there will be no clear direction this week, and the real trend may not become clear until next week.
🕵️ Operation suggestion:
BitCoin 60842.4 Sell Target Price 58998.9
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