MC Prime Successfully Participates in IFX Expo Hong Kong 2025, IB Partnership Program Gains Wide Attention Hong Kong, October 30, 2025&nbsp;— MC Prime, a leading global fintech company, announced its successful participation in the IFX Expo Hong Kong 2025, where it actively promoted its innovative Introducing Broker (IB) Partnership Program, attracting significant attention from financial professionals and potential partners. The event took place on October 27-28, 2025, at the Hong Kong Convention and Exhibition Centre. Through professional presentations and in-depth exchanges, MC Prime further solidified its leading position in the global financial market. Highlights of the Event1.&nbsp;High Foot Traffic at the Booth MC Prime’s booth attracted a large number of visitors, including financial industry professionals, potential partners, and media representatives. The company’s team showcased its advanced trading platform and diverse financial products through live demonstrations, one-on-one meetings, and keynote speeches.2.&nbsp;Strong Interest in the IB Partnership Program Many attendees showed keen interest in MC Prime’s IB Partnership Program, particularly its gold spread rebate scheme, which stood out for its high rebate ratio and transparent calculation rules. On-site sign-ups and inquiries far exceeded expectations.3.&nbsp;Industry Networking and Future Collaborations MC Prime engaged in in-depth discussions with several international financial institutions and tech companies, exploring potential collaborations in areas such as technological innovation and market expansion.Feedback from Clients and Partners·&nbsp;“MC Prime’s platform is very stable, and the commission structure is highly attractive. We look forward to becoming an IB partner.”&nbsp;— Representative from an Asian financial institution·&nbsp;“The professionalism of the event and MC Prime’s team service left a deep impression on us.”&nbsp;— European potential partnerNext StepsMC Prime will continue to follow up on potential collaboration opportunities established during the event and further optimize its IB Partnership Program to provide better services and support to global financial professionals. The company also plans to participate in more international financial exhibitions in 2026 to expand its brand influence.Media ContactFor more information or to arrange interviews, please contact: MC Prime Marketing Department Email: <a href="mailto:marketing@mc-prime.com">marketing@mc-prime.com</a> <hr size="1" width="100%"/> About MC Prime MC Prime is a leading global fintech company dedicated to providing secure, transparent, and efficient financial services to investors. Headquartered in Hong Kong, the company operates in multiple countries and regions worldwide. For more information, please visit <a href="http://www.mc-prime.com/">www.mc-prime.com</a>.&nbsp;

MC Prime Successfully Participates in IFX Expo Hong Kong 2025, IB Partnership Program Gains Wide Attention

From October 27 to 28, MC Prime will arrive in Asia’s financial hub — Hong Kong, to participate in iFX EXPO Asia 2025. As one of the most influential fintech events in the region, the exhibition will be held at the Hong Kong Convention and Exhibition Centre (HKCEC), bringing together top global financial brands and innovative technology providers — a key platform for fostering partnerships and market dialogue in the trading ecosystem.<h3 data-start="679" data-end="697"> About MC Prime</h3>MC Prime is a multi-regulated comprehensive CFD trading platform with global reach, dedicated to providing traders and partners with a stable, secure, and efficient trading experience.We are not only synonymous with execution speed but also redefine the standards of broker collaboration:🔹 Flexible IB reward structure – Customizable income paths for both individuals and teams. 🔹 Innovative trading features – Copy trading, API connectivity, and multi-currency payment support. 🔹 Superior trading conditions – Up to 1:500 leverage, ultra-tight spreads, and zero commission policy. 🔹 Comprehensive product range – Forex, indices, precious metals, commodities, stocks, and major cryptocurrencies. 🔹 Diverse account types – Standard MT5, MT4, Cent accounts, and Raw Spread accounts for professional traders. <h3 data-start="1552" data-end="1589">Visit Us in Hong Kong – Booth #98</h3>Whether you’re a growing trading community or a broker seeking customized liquidity solutions, we welcome you to visit us at Booth #98. Discover how MC Prime’s platform and partner framework can empower your business growth.<h3 data-start="1823" data-end="1851"> About iFX EXPO Asia 2025</h3>This year’s iFX EXPO Asia is scaling up, expecting over 4,000 professionals from finance, technology, and payment industries, and 1,600+ companies including decision-makers and innovators. It is the ultimate venue to build partnerships, expand networks, and explore the next wave of Asia’s financial innovation.<h3 data-start="2176" data-end="2226"> Define the Next Generation of Trading Together</h3>Register now for your free ticket and join us in Hong Kong. MC Prime is ready to explore the future of trading with you — Booth #98, see you there! 📍 Event Highlights Event: iFX EXPO Asia 2025 Location: Hong Kong Convention and Exhibition Centre (HKCEC) Date: October 27–28, 2025 MC Prime Booth: #98

Meet in Hong Kong – Shaping the Future of Trading Together  MC Prime at iFX EXPO Asia 2025!

MC Prime Awarded “Outstanding Forex Trading Platform Award” at 2025 Macau Wealth Forum 

<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"><img src="https://804483479.gieqd.com/cms/788f88349f834600955aa6967c770ecc_1746704423473.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">June 2025 – MC Prime, a leading CFDs trading platform, will participate in the upcoming 2025 International Wealth Management and Financial Investment Forum (Macau), organized by <span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Money Weekly<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> and scheduled for June 7 at Studio City Macau. This prestigious event brings together top global brokers, trading experts, and analysts, providing a premier platform for industry networking and trend insights. <h2 dir="ltr" style="line-height:1.38;margin-top:12pt;margin-bottom:12pt;"><span style="font-size: 16pt; font-family: Arial, sans-serif; font-weight: 400; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Visit MC Prime at Booth A5</h2><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Come visit us at booth A5, where we will be showcasing our secure, stable, and user-friendly CFDs trading platform and presenting innovative trading solutions, along with our highly attractive IB (Introducing Broker) commission plan. We look forward to engaging with you and discussing how to achieve a balance between profit growth and risk management amid the volatile global markets. Event details are as follows:<ul style="padding-inline-start: 48px;" class=" list-paddingleft-2"><li><span style="font-size: 11pt; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; text-wrap-mode: wrap;">Date: June 7, 2025</li><li><span style="font-size: 11pt; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; text-wrap-mode: wrap;">Time: 10:00 AM – 4:30 PM</li><li><span style="font-size: 11pt; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; text-wrap-mode: wrap;">Venue: 3rd Floor, Studio City Macau, Macau</li><li><span style="font-size: 11pt; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; text-wrap-mode: wrap;">Booth: A5</li></ul><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The forum is expected to attract professionals from banks, insurance, securities, funds, forex, and futures, as well as family office representatives, high-net-worth individuals, leading media, and research organizations. Discussion will focus on international economic trends, asset allocation strategies, and the latest innovations in wealth management.&nbsp;<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">For those still considering attendance, Albert, MC Prime’s Global Business Development Manager, emphasizes: &quot;This forum is more than a financial gathering-it is a unique opportunity to connect directly with industry leaders, explore the latest innovations, and gain valuable insights. In an era of rapid market changes, being present at this event means being ready to seize new opportunities and drive sustainable growth.&quot; <h2 dir="ltr" style="line-height:1.38;margin-top:12pt;margin-bottom:12pt;"><span style="font-size: 16pt; font-family: Arial, sans-serif; font-weight: 400; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">About MC Prime</h2><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">MC Prime is a leading global CFDs trading platform, regulated by top-tier authorities including the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Services Authority (FSA), and the Mauritius Financial Services Commission (FSC). MC Prime is dedicated to providing investors and IB partners with excellent services and a superior trading environment, featuring:<ul style="padding-inline-start: 48px;" class=" list-paddingleft-2"><li><span style="font-size: 11pt; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; text-wrap-mode: wrap;">Competitive IB Commission Program: Flexible commission plans tailored to business volume, with comprehensive support such as event participation, exhibition assistance, and office resources.</li><li><span style="font-size: 11pt; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; text-wrap-mode: wrap;">Advanced Trading Solutions: Providing copy trading systems and multi-currency deposit and withdrawal services.</li><li><span style="font-size: 11pt; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; text-wrap-mode: wrap;">High Leverage and Low Trading Costs: Offering leverage up to 1:1000, zero commissions, and tight spreads, ensuring exceptional trading conditions.</li><li><span style="font-size: 11pt; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; text-wrap-mode: wrap;">Diverse Trading Products: Covering forex, indices, cryptocurrencies, stocks, precious metals, and commodities.</li><li><span style="font-size: 11pt; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; text-wrap-mode: wrap;">Multiple Account Types: Supporting MT5 Standard, MT5 Raw Spread, MT5 Cent, and MT4 accounts, providing flexibility to suit diverse trading needs.</li></ul>

MC Prime to Showcase at 2025 International Wealth Management and Financial Investment Forum (Macau)

Dear Valued Clients, Recently, we have identified instances of fraudulent activities where individuals are misusing the name of MC Prime to conduct scams via unofficial websites. To address this issue and protect our clients, we hereby make the following statement: <ol class=" list-paddingleft-2"><li>MC Prime’s only official website is: <a aria-label="連結 https://www.mc-prime.com/" id="menur9sr" href="https://www.mc-prime.com/" rel="noreferrer noopener" target="_blank" class="fui-Link ___1q1shib f2hkw1w f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1s184ao f1mk8lai fnbmjn9 f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh fhgqx19 f1olyrje f1p93eir f1nev41a f1h8hb77 f1lqvz6u f10aw75t fsle3fq f17ae5zn" title="https://www.mc-prime.com/">https://www.mc-prime.com/</a>. Please avoid trusting any other unverified links or websites.</li><li>MC Prime has not authorized any third parties to perform transactions or offer services under our name.</li><li>If you encounter any suspicious information or discover websites misusing MC Prime’s name, please immediately cease all interactions and report them to us through our official channels:</li><ul class=" list-paddingleft-2"><li>Customer Support Email: <a rel="noreferrer noopener" target="_blank">service@mc-prime.com</a></li></ul></ol><a rel="noreferrer noopener" target="_blank"></a><a rel="noreferrer noopener" target="_blank"> </a>To safeguard your funds and personal information, remain vigilant, verify the authenticity of communications, and steer clear of potential scams. MC Prime remains dedicated to monitoring and addressing fraudulent activities to protect our clients’ interests. Thank you for your understanding and cooperation!The MC Prime Team [12/12/2024]

Beware of Fraudulent Activities Using MC Prime’s Name

From October 7-8, we participated at Forex Expo Dubai 2024, the region’s largest forex event. This year’s expo gathered over 160 companies and 18,000 attendees from 35 countries, including top brokers, traders, and financial institutions. As a Diamond Sponsor at Booth No. 140, we showcased our cutting-edge trading solutions and our Introducing Broker (IB) program to expand our network of partners. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">“The Forex Expo Dubai provided an excellent opportunity to engage with current and prospective IB partners. Our IB program features a highly appealing seven-level reward structure based on net deposits and trading volume, offering partners benefits such as spread rebates of up to $75 per lot and cash bonuses of up to $500,000,” said Albert Li, Head of Business at MC Prime.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">The IB program&#39;s launch garnered significant interest, with many attendees eager to join. Partners expressed enthusiasm not only for the financial incentives but also for the comprehensive marketing support and educational resources designed to drive growth and client engagement.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">As a leading Broker, we also highlighted our advanced trading services at the expo. The bustling exhibit provided attendees with hands-on access to MC Prime’s state-of-the-art trading platform, featuring over 200 trading instruments, leverage up to 1:1000, zero commissions, and low spreads. We further underscored our commitment to delivering a seamless trading experience, by showcasing multiple payment options, a MAM (copy trading) system, 24/7 multilingual customer support and more.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"><img src="https://804483479.gieqd.com/cms/5ff8e8220a494806a059b20093c30005_1729597963514.jpg" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">In recognition of our achievements, we were honored at the expo&#39;s awards ceremony, receiving the prestigious &quot;Prime Player in Forex Industry 2024&quot; title. This accolade recognizes our dedication to providing innovative trading solutions and our commitment to excellence in the forex industry.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">As we reflect on the success of the event, we look forward to deepening our collaborations, expanding our offerings, and driving growth for partners and clients, with a particular focus on the Southeast Asian market.<div><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

MC Prime Showcased IB Program at Forex Expo Dubai 2024

<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">MC Prime is excited to announce our participation as a <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">Diamond Sponsor<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;"> at the <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">7th edition of Forex Expo Dubai 2024<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">, taking place on <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">October 7-8<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;"> at the <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">Dubai World Trade Centre<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space-collapse: preserve;">. <h2 dir="ltr" style="line-height:1.38;margin-top:12pt;margin-bottom:12pt;"><span style="font-size: 16pt; font-family: Arial, sans-serif; font-weight: 400; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Why Attend?</h2><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">The Forex Expo Dubai 2024 is one of the most significant events in the global forex trading industry, bringing together brokers, traders, investors, fintech companies, and financial institutions. Attendees will have opportunities to network with industry peers, learn from experts in insightful seminars, and even win exciting prizes!&nbsp;<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">This is the perfect opportunity to reconnect face-to-face, and we can&#39;t wait to show you what&#39;s new at our booth #140. <h2 dir="ltr" style="line-height:1.38;margin-top:12pt;margin-bottom:12pt;"><span style="font-size: 16pt; font-family: Arial, sans-serif; font-weight: 400; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Visit Our Booth #140</h2><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">As a Diamond Sponsor, MC Prime will be showcasing our cutting-edge trading solutions, innovative services, and rewarding programs. Make sure to visit our booth to:<ul style="padding-inline-start: 48px;" class=" list-paddingleft-2"><li><span style="font-size: 11pt; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap: wrap;">Explore Our IB Reward Program: Learn how our customized reward structures and dedicated IB support team can help you maximize earnings as our partner.</li><li><span style="font-size: 11pt; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap: wrap;">Engage with Our Advanced Trading Solutions: Discover our MAM/Copy Trading System, flexible payment solutions, and more that streamline your business.</li><li><span style="font-size: 11pt; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap: wrap;">Check Out Our Trading Accounts: Find the perfect account that fits your trading needs.</li><li><span style="font-size: 11pt; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap: wrap;">Discover Our Latest Campaigns: See how our campaigns can help you trade with lower costs and enhanced benefits.</li></ul> <h2 dir="ltr" style="line-height:1.38;margin-top:12pt;margin-bottom:12pt;"><span style="font-size: 16pt; font-family: Arial, sans-serif; font-weight: 400; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Join Us at Forex Expo Dubai 2024</h2><a href="https://register.theforexexpo.com/Reg/" style="text-decoration-line: none;"><span style="font-size: 11pt; font-family: Arial, sans-serif; color: rgb(17, 85, 204); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Get your ticket for Forex Expo Dubai 2024</a><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">, and visit our booth #140. We look forward to engaging in in-depth discussions and exploring how MC Prime can support your trading and business goals.

MC Prime Joins as Diamond Sponsor for Forex Expo Dubai 2024

<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">From September 16 to 18, MC Prime will participate in iFX EXPO Asia 2024 at the Centara Grand &amp; Bangkok Convention Centre. This event brings together leading financial companies, trading experts, and brokers, offering a prime opportunity for the industry to network and exchange insights.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">About MC Prime<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">MC Prime is a leading CFD trading platform, regulated by top-tier authorities including the SFC of Hong Kong, CySEC, FSA Seychelles, FSC Mauritius, and Hong Kong Insurance Authority. We provide:<ul style="padding-inline-start: 48px;" class=" list-paddingleft-2"><li><span style="font-size: 11pt; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap: wrap;">Competitive IB Reward Program: Tailored reward structures and a dedicated IB support team to help maximize our partner’s earning potential.</li><li><span style="font-size: 11pt; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap: wrap;">Advanced Trading Solutions: Including copy trading, and flexible payment options from fiat to cryptos.</li><li><span style="font-size: 11pt; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap: wrap;">High Leverage and Low Costs: Offering leverage up to 1:1000, zero commissions, and low spreads starting from 0 pips.</li><li><span style="font-size: 11pt; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap: wrap;">Diverse Product Range: Access to Forex, Indices, Commodities, Cryptos, and Stocks.</li><li><span style="font-size: 11pt; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap: wrap;">Multiple Account Options: Including the Standard MT5 Account, Basic MT4 Account, Raw Account, and US Cent Account.</li></ul><span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Visit MC Prime at Booth #113<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Come visit us<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">at Booth #113, where we will be showcasing our secure and efficient CFD trading platform. Our team will be available to discuss MC Prime’s cutting-edge trading solutions and competitive IB reward program, all tailored to meet the evolving needs of our clients.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">About iFX Asia 2024<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">This year’s iFX Asia Expo is set to be the largest yet, with over 3,500 attendees from 1,600+ companies. The expo floor will feature booths from leading fintech and online trading brands, offering visitors the chance to explore the latest in broker-specific solutions, including trading platforms, CRM, liquidity, paytech, and more. The event is free to attend and provides IBs and affiliates with the opportunity to meet top brokers face-to-face and discover partnership opportunities suited to their business needs.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"><span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> Join Us at iFX Asia 2024<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> <a href="https://asia2024.ifxexpo.com/register" target="_blank"><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Get your ticket for iFX Asia 2024</a><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">, and visit our booth #113. We look forward to engaging in in-depth discussions and exploring how MC Prime can support your trading and business goals.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">

Meet MC Prime at iFX Asia 2024 in Bangkok!

<span style="font-family: &quot;Times New Roman&quot;, serif; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap; font-size: 16px;">Developed by Magic Compass Limited, MC Prime is a professional CFD trading platform, offering you a seamless and empowering trading experience in various markets, such as cryptocurrencies, forex, commodities, indices, and more. In this blog, we&#39;ll explore the key advantages that set MC Prime apart and why it&#39;s the ideal choice for both novice and experienced traders.&nbsp;<span style="font-size: 11pt; font-family: &quot;Times New Roman&quot;, serif; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">&nbsp;&nbsp;<ul style="padding-inline-start: 48px;" class=" list-paddingleft-2"><li><span style="background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap: wrap; font-size: 18px;">High Leverage</li></ul><span style="font-size: 11pt; font-family: &quot;Times New Roman&quot;, serif; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">One of the most significant benefits of trading with MC Prime is the platform&#39;s high leverage options. Leverage allows traders to control a large position with a relatively small initial outlay so that they can amplify their market exposure and potentially maximize their profits. With MC Prime, you are able to leverage up to 1:1000. For example, you can reap the gains on 1000 stocks while putting down the price of just one stock. However, it&#39;s important to note that high leverage also amplifies risks, and MC Prime emphasizes the responsible use of leverage to manage risk effectively.&nbsp;<span style="font-size: 11pt; font-family: &quot;Times New Roman&quot;, serif; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">&nbsp;&nbsp;<ul style="padding-inline-start: 48px;" class=" list-paddingleft-2"><li><span style="background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap: wrap; font-size: 18px;">Zero Commission and Low Spreads</li></ul><span style="font-size: 11pt; font-family: &quot;Times New Roman&quot;, serif; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">MC Prime&#39;s commitment to providing a transparent and cost-effective trading environment is evident in its zero-commission structure and low-spread offerings. By eliminating commissions, you can enjoy a more favorable entry and exit price, ultimately enhancing their overall trading profitability. Additionally, MC Prime&#39;s low spreads, starting from 0 in RAW account and from 0.2 in standard account, ensure that you can minimize the impact of market fluctuations on their trades.&nbsp;<span style="font-size: 11pt; font-family: &quot;Times New Roman&quot;, serif; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"><img src="https://804483479.gieqd.com/cms/8bf12f8770914d3e9c43bf0d00c37f95_1718271183336.png" width="624" height="259" style="margin-left:0px;margin-top:0px;" title="null" alt="null"/><span style="font-family: &quot;Times New Roman&quot;, serif; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap; font-size: 12px; color: rgb(127, 127, 127);">*The above are account types that MC Prime provides to meet your strategy needs. <a href="https://www.mc-prime.com/login/?en" target="_blank">Register</a> for your account now.&nbsp;<span style="font-size: 11pt; font-family: &quot;Times New Roman&quot;, serif; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">&nbsp;&nbsp;<ul style="padding-inline-start: 48px;" class=" list-paddingleft-2"><li><span style="background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap: wrap; font-size: 18px;">Regulatory Compliance and Multi-Device Access</li></ul><span style="font-size: 11pt; font-family: &quot;Times New Roman&quot;, serif; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Ensuring the safety and security of its clients&#39; funds is a top priority for MC Prime. We hold licenses from 5 regulatory authorities, providing you with the peace of mind that comes with operating in a well-regulated financial environment. <a href="https://www.mc-prime.com/aboutUs/" target="_blank">Check our licenses here</a>. Furthermore, MC Prime&#39;s multi-device accessibility, including desktop, mobile, and tablet platforms, allows you to seamlessly manage your trades from anywhere, at any time.&nbsp;<span style="font-size: 11pt; font-family: &quot;Times New Roman&quot;, serif; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"><img src="https://804483479.gieqd.com/cms/f7bc554503174d6d8324effbbb22d745_1718271329296.png" width="624" height="123" style="margin-left:0px;margin-top:0px;" title="null" alt="null"/> <ul style="padding-inline-start: 48px;" class=" list-paddingleft-2"><li><span style="background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; text-wrap: wrap;">Robust Trading Tools&nbsp;</li></ul><span style="font-size: 11pt; font-family: &quot;Times New Roman&quot;, serif; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">To empower both novice and experienced traders, MC Prime offers a comprehensive suite of trading tools. This includes advanced charting capabilities, customizable indicators, and a user-friendly trading terminal. Additionally, our platform provides a free trading account where you can practice CFD trading with the real time market and test your idea without risking your capital. <a href="https://www.mc-prime.com/login/?en" target="_blank">Sign up</a> and start your practice today.&nbsp;<span style="font-size: 11pt; font-family: &quot;Times New Roman&quot;, serif; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">&nbsp;&nbsp;<span style="font-size: 11pt; font-family: &quot;Times New Roman&quot;, serif; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">In conclusion, MC Prime is a standout choice for traders seeking a secure, cost-effective, and feature-rich trading experience. With its high leverage, zero commissions, low spreads, regulatory compliance, and robust trading tools, MC Prime empowers you to navigate the financial markets with confidence. <a href="https://www.mc-prime.com/" target="_blank">Explore the platform</a> and unlock the full potential of your trading journey with MC Prime. <div><span style="font-size: 11pt; font-family: &quot;Times New Roman&quot;, serif; background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

Elevate Your CFD Trading with Online Broker MC Prime

Corporate Updates

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Rally into the Weekend</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US equity markets finished the week with a powerful rally on Friday as investor confidence rebounded. The Dow Jones Industrial Average surged 2.47% to close at a record 50,115, the first time the index has finished above the 50,000 level. The broader market followed suit, with the S&amp;P 500 rising 1.97% to 6,935, while the Nasdaq gained 2.18% to close at 23,031. In fixed income markets, US Treasury yields moved higher off three-month lows as traders positioned ahead of delayed US labour market data due later this week. The 2-year yield rose 4.7 basis points to 3.498%, while the 10-year yield added 2.6 basis points to 4.206%. Despite the lift in yields, the US dollar softened modestly, with the Dollar Index slipping 0.20% to 97.63. Commodities experienced another volatile day. Oil prices pushed higher as geopolitical concerns surrounding the US-Iran situation intensified, with Brent rising 0.74% to $68.05 and WTI advancing 0.41% to $63.55. Precious metals were particularly lively, with gold surging 3.87% to close at $4,964.36 by the New York close.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Yen Back in Focus on Japanese Election Updates</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The FX market will be focussing heavily on the yen market at the start of this trading week, with Prime Minister Sanae Takaichi looking set to win a landslide victory in government elections that will allow her to press forward with plans for strong tax cuts and military spending, which should lead to a softer currency. We have already seen some whippy moves in the market in the first few hours of trading. The yen weakened on the open, with USDJPY rallying 70 pips from the Friday close, yet it capped out to strong selling interest around the 157.70 level before dropping swiftly back to 157.00, with some traders querying whether there was official action at that level. It feels like the market wants to test moves higher in both USDJPY and the crosses. We know that the Bank of Japan does not want to see excessive weakness in the currency, so many yen traders are preparing for some long sessions ahead with yet more volatility in the currency.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Busy Day Ahead Despite Quiet Calendar</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The macroeconomic calendar is quiet to begin the week, although traders are not expecting subdued conditions. Last week’s volatility across equities, commodities, and currencies is likely to spill over into the coming sessions, particularly with key US employment and inflation data still to come. Attention now shifts to Asia, where traders anticipate sharp moves on the open, especially in the Japanese yen, as election results are fully digested. Early indications point to a decisive victory for Prime Minister Sanae Takaichi, and initial yen weakness has already emerged. However, with currency levels approaching recent areas associated with official intervention, market participants remain alert to the risk of heightened volatility. There is little on the calendar in both the London and New York sessions today, and although we do hear from some key central bankers later in the day, including Buba President Joachim Nagel and the Fed’s Raphael Bostic, most market participants expect geopolitical updates to dominate sentiment.

Market Analysis - 09/02/26

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Rally as Geopolitical Tensions</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US equity markets finished the overnight session in positive territory, recovering late in the day as technology stocks led a broad-based rally. Improved sentiment followed signs of easing geopolitical tensions after President Trump confirmed the completion of a trade agreement with India and indicated that discussions between Iran and Washington were underway. The Dow Jones rose 1.05% to close at 49,407, while the S&amp;P 500 added 0.54% to finish at 6,976. The Nasdaq also advanced, gaining 0.56% to end the session at 23,592. In currency and fixed-income markets, the US dollar and Treasury yields both moved sharply higher as another round of US economic data exceeded expectations. The US Dollar Index climbed 0.65% to 97.62, while Treasury yields rose across the curve, with the 2-year yield increasing by 4.9 basis points to 3.572% and the 10-year yield up 4.2 basis points at 4.277%. Commodities once again recorded the most significant moves. Oil prices fell sharply on the Iran-related headlines, with Brent crude dropping 3.95% to $66.58 per barrel and WTI crude sliding 4.71% to $62.14. Precious metals also experienced significant volatility, with gold closing the day down 3.86% at $4,676.38 and silver close to flat in a very large range.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Metals Remain Volatile as Fallout from Historic Moves Continues</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Both gold and silver experienced another volatile day of trading yesterday. Both precious metals lost ground again, but probably more concerning for traders was the pace of the moves they experienced, as liquidity remained at a premium after the huge crashes on Friday. Gold ultimately finished nearly 4% down but traded in a 10% range over the course of the day, while silver lost 6% on the day, having traded in an 18.8% range. Once again, this type of volatility is far from normal, and liquidity providers are pricing the pairs accordingly. Market participants are expecting these conditions to persist in the coming sessions as the fallout from the recent move to historic highs and the subsequent crash continues to be assessed across the market. Short-term technical levels lose much of their relevance in these kinds of thin markets, as flows dictate moves; however, some of the longer-term levels will hold their relevance, albeit with a bit more “flexibility” around them. Many traders will tend to keep their powder dry in these conditions until markets start to normalize.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Data in Doubt for Market This Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It is expected to be a relatively busy week on the macroeconomic calendar, and traders were anticipating a shift in focus to data and fundamentals. However, news of another partial US government shutdown has put US data releases in doubt. The Asian session, however, will definitely see the Reserve Bank of Australia make its latest rate call, where it is expected to raise interest rates by 25 basis points in response to elevated inflation and a resilient labor market. The policy decision is due at 2:30 pm AEST, followed by the RBA press conference at 3:30 pm. Later in the session, attention will turn to the United States, with JOLTS job openings data scheduled for release at 1:00 am AEST. However, those reports of the US government shutdown may delay this release, as well as other key labor market data later in the week, including Friday’s Non-Farm Payrolls report.

Market Analysis - 03/02/26

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fundamental Analysis</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Tensions over Greenland have eased temporarily as the U.S. and Europe made short-term concessions; however, the underlying issues remain unresolved and the risk of renewed disputes persists. The market continues to hold a bearish view on the USD and remains concerned that the U.S. government may create further controversies, potentially straining international relations and indirectly impacting global economic growth. As a result, investors are reluctant to hold USD-related assets and have shifted toward precious metals as the primary safe-haven, supporting strong demand. Consequently, gold prices have repeatedly hit record highs and broke above the 5100 level today.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">On the 1-hour chart, gold pulled back to the moving average and then resumed its upward move, opening with a bullish gap and setting a new short-term high. Moving averages remain in a bullish alignment, indicating that the overall trend is still upward. However, the KD indicator remains in a bearish crossover, suggesting the possibility of short-term pullbacks. Within a bullish trend, it is not recommended to chase short positions on retracements. Consider light long positions near the 5068 support, with a target at 5208 and a stop loss at 4998.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Recommendation</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">- Buy on pullback at: 5068<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">- Target: 5208<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">- Stop loss: 4998<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">- Support: 5068<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">- Resistance: 5208<img src="https://newhaodooss.oss-cn-hongkong.aliyuncs.com/cms/images/b372dc947f28440197cd5568312c94f3_1769458250522.jpg?Expires=3662885450&OSSAccessKeyId=LTAI5tC7JTP2hpkJvzViR4QR&Signature=pAZfLievdQEwnz9KZFyDFTjsPFw%3D" title="" alt=""/> <span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">🔺The above is for reference only and doesn’t represent the platform’s views. Trade with confidence and manage your risk wisely.<div><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

Product Analysis - 26/01/26

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Push Higher on Improved Risk Sentiment</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US equities pushed higher again in yesterday’s session as risk sentiment continued to improve around Greenland and European tariff concerns. The Dow Jones climbed 0.63% to close at 49,384, while the S&amp;P 500 added 0.55% to finish at 6,913. The Nasdaq outperformed, rising 0.91% to close at 23,436. US Treasury yields edged higher, with the 2-year yield up 2.2 basis points to 3.607% and the benchmark 10-year ticking 0.2 basis points higher to 4.245%. Despite the move in yields, the US dollar was sold hard, with the DXY sliding 0.47% to 98.29. Commodity markets were mixed. Oil prices slipped back as improving risk sentiment weighed on crude, with Brent falling 1.47% to $64.28 a barrel and WTI dropping 1.75% to $59.56. In contrast, precious metals continued their powerful run. Gold defied the broader risk-on backdrop, surging 2.15% to settle at $4,936.02, while silver also pushed to new highs, reinforcing the strong demand for hard assets.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Precious Metal Flow Relentless in 2026</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Both gold and silver powered to more fresh record highs in trading yesterday despite an overall ‘risk-on’ sentiment hitting most other parts of the market. In a continuation of the pattern that dominated gold trading in particular, and silver towards the end of 2025, precious metals are driving to higher levels in most market environments. Goldman Sachs recently increased its year-end gold estimate to $5,400, driven by strong investor demand and central bank buying; however, this may prove to be an underestimate in the current environment. Silver’s rally has been even more dramatic in percentage terms. After an extraordinary run in 2025, silver has continued to ascend in 2026, surpassing $95 per ounce overnight as its dual role as both an industrial metal and a safe haven has amplified demand, while constrained supplies have bolstered price performance. Both metals now look to be targeting significant psychological levels at $5,000 and $100 an ounce, and this could be hit in hours or sessions rather than days or weeks if we see similar demand today.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Busy Calendar Day to Close Out the Trading Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Looking ahead, it shapes as a busy end to the trading week, with a full event calendar across all sessions and the potential for further geopolitical updates to drive volatility. We have already seen a higher-than-expected print for New Zealand CPI data (+0.6% vs exp +0.5%) in the Asian session, but the focus is now squarely on Japanese markets and the Bank of Japan’s interest rate decision and guidance. In Europe, UK retail sales (exp 0.0% m/m) are due early in the day, followed by flash services and manufacturing PMI data from France, Germany, and the UK, before ECB President Christine Lagarde speaks later in the morning. The US session sees Canadian retail sales (exp 1.2% m/m) close to the open, before focus drops back south of the border to the US for its flash services (exp 52.9) and manufacturing (exp 51.9) PMI data later in the day.<div><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

Market Analysis - 23/01/26

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fundamental Analysis</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Yesterday, the US Department of Justice threatened to prosecute Fed Chair Powell, mainly because Powell highlighted that the White House continues to exert pressure via project overspending, aiming for greater influence over monetary policy. This raised concerns about the Fed’s independence and the credibility of the USD, weakening the dollar and temporarily boosting non-USD currencies. However, for JPY, last Thursday’s wage data showed a sharp drop in one-time bonuses, and Prime Minister Takahashi Sanae is considering an early House election in February, limiting the yen’s upside.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">On the USD/JPY 1-hour chart, price action shows higher highs and higher lows, indicating strong buying pressure. If price pulls back without breaking previous support, the uptrend may continue.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Recommendation</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">- Short-term Buy: 158.42<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">- Stop Loss: 157.88<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">- Target: 158.70 – 159.04<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">- Support: 158.42<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">- Resistance: 159.04<img src="https://newhaodooss.oss-cn-hongkong.aliyuncs.com/cms/images/67f0e862880a40d4bb01ff2682466012_1768326643793.jpg?Expires=3661753843&OSSAccessKeyId=LTAI5tC7JTP2hpkJvzViR4QR&Signature=Zf6ClPFfbRSR2EW76i2wR5yOY7Q%3D" title="" alt=""/> <span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">🔺The above is for reference only and doesn’t represent the platform’s views. Trade with confidence and manage your risk wisely.<div><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

Product Analysis - 13/01/26

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Hit Record Levels After Weaker Non-Farms – S&amp;P up 0.65%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US equity markets extended their rally on Friday, with stocks closing at or near record levels after US employment data came in slightly below expectations. The Dow gained 0.48% to close at 49,504, while the S&amp;P 500 rose 0.65% to 6,966, and the Nasdaq outperformed with a 0.81% advance to finish at 23,671. Despite the softer headline jobs data, the unemployment rate fell, and shorter-dated US yields pushed higher. The US 2-year Treasury yield climbed 4.4 basis points to 3.532%, while the 10-year yield was little changed, slipping 0.2 basis points to 4.165%. The shift in rate expectations supported the US dollar, with the dollar index rising 0.30% to 99.17. In commodities, oil prices surged again as geopolitical tensions intensified following reports of further unrest in Iran. Brent jumped 2.18% to $63.34 per barrel, while WTI gained 2.35% to $59.12. Gold also attracted strong haven demand, pushing back through the $4,500 level, with the metal rising 0.77% to trade at $4,510.15 by the NY close.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fed Rate Cuts Still in Play for 2026 After Non-Farms</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Rate cuts from the Federal Reserve Bank are still on the table this year for the market, following the first major data release of 2026, which came in close to expectations. Non-Farm Payroll data came in slightly under expectations; however, the Unemployment Rate dropped more than expected, by 0.2% rather than the expected 0.1%, and Average Hourly Earnings did increase by the anticipated 0.2% m/m. The market is now pricing in just a 5% chance of a further rate cut from the Fed at this month’s meeting, but we have seen a bigger change in the March meeting pricing, with the chances of a 25-basis point cut slipping from over 40% a week ago to under 30% now. Traders will now be focusing on key inflation data out of the US this week, and if it remains ‘sticky’, as it has done over the last year, then we can expect those rate cut expectations to pull back further and add more support to the dollar, which has crept up nearly 1% since the start of 2026.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Quiet Calendar Start to Another Busy Trading Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It is a quiet start to the trading week on the economic calendar, with very little in the form of Tier 1 events scheduled; however, geopolitical updates are likely to drive more market movements as the day progresses. Japan is closed for a bank holiday during the Asian session, which may see a reduction in liquidity. The European session is also set to be relatively quiet in terms of scheduled events. In the US session, there is also little in the way of data scheduled; however, markets will be watching comments from FOMC member Thomas Barkin, who is scheduled to speak later in the day, with his and other Fed members’ comments likely to be under the microscope in the coming days after the big data update on Friday.<div><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

Market Analysis - 12/01/26

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fundamental Analysis</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">In the early hours of January 3, the U.S. military successfully carried out an operation, arresting Venezuelan President Maduro and transferring him to New York for trial. This major event significantly boosted market safe-haven demand; as a result, the U.S. Dollar Index fluctuated higher on Monday, putting pressure on non-USD currencies. The market is closely watching Maduro’s court appearance in New York on Monday and the potential uncertainties in the Latin American region. On the other hand, the market currently expects this week’s nonfarm payroll growth to slow further to around 57,000. If the data confirms a cooling labor market, it would strongly support market bets for two additional Fed rate cuts in 2026, potentially halting the USD’s rebound.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The 15-minute chart of GBP/USD shows the price in a downtrend, with potential for a pullback to the supply/demand zone to rebuild momentum. Therefore, sell positions are suggested when price retraces to the supply zone, with stop-loss above the zone and a final target set at a 2:1 risk-reward ratio.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trade recommendation</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Sell above: 1.34336<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stop-loss above: 1.35013<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Target: 1.32982<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support: 1.32982<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Resistance: 1.35013<img src="https://newhaodooss.oss-cn-hongkong.aliyuncs.com/cms/images/8d48b61d220a4e86b8c8e87379fb62c2_1767636463354.jpg?Expires=3661063663&OSSAccessKeyId=LTAI5tC7JTP2hpkJvzViR4QR&Signature=4i7EkdjIznkD1iaX%2BKic2nRIPhE%3D" title="" alt=""/> <span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">🔺The above is for reference only and doesn’t represent the platform’s views. Trade with confidence and manage your risk wisely.<div><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

Product Analysis - 05/01/26

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Mixed After Fed – Dow up 1.3%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US equity markets were mixed overnight as investors continued to weigh the implications of the Fed’s latest rate cut. The Dow led the way, jumping 1.34% to finish at 48,704, while the S&amp;P 500 managed a modest 0.21% rise to 6,901, both securing fresh record closes. The Nasdaq, however, slipped 0.25% to 23,593 after tech heavyweight Oracle issued a weaker-than-expected forecast, reigniting concerns that parts of the AI sector may be running ahead of fundamentals. In FX, the US dollar softened again, with the DXY easing 0.29% to 98.34, even as Treasury yields edged higher. The 2-year yield nudged up 0.3 bps to 3.541%, while the 10-year added 1 bp to 4.157%. Oil extended its recent decline, with Brent slipping 0.96% to $61.62 and WTI down 0.91% to $57.93, as markets drew optimism from renewed hopes for progress toward a Ukraine peace deal. Gold rallied strongly, climbing 1.06% to $4,278.85, supported by haven flows and momentum following yesterday’s Fed decision.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Investor Glasses Still Half Full for Christmas Drinks</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Major US indices pushed higher in trading yesterday to hit fresh all-time high closes as investors continued to cheer the Fed’s interest rate cut on Wednesday and advice that we will see at least one more in 2026. The Dow and S&amp;P hit records, while the Nasdaq fell marginally, which wasn’t a bad result given an 11% drop for Oracle. The market appears to be driving forward into the year-end with the same ‘glass half full’ mentality that has carried it to record highs in 2025, and investors are happy to jump on that bandwagon. However, there are some that fear a significant early-2026 hangover could be coming their way, with growth tech firms involved in AI looking to be the highest risk for some sharp corrections in the current environment – as we saw with Oracle yesterday. In addition to those fears, the Fed left plenty of wiggle room for hawks out there as well, despite the market’s initial reaction to Wednesday’s cut. For now, investors are happy to eat, drink, and be merry while the good times last, but are wary that things can sometimes look different in the cold light of a fresh new day – or fresh new year!<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Markets Strong into the Weekend</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">With the macro calendar far quieter today, traders may still see swings across markets as they continue to digest the heavy run of central bank updates and geopolitical developments from earlier in the week. The Asian session is expected to have a relatively quiet start to the day; however, with products trading at significant levels, traders are expecting things to liven up as the day progresses. The European session sees the release of the only tier 1 data of the day, with the UK GDP numbers due out. The month-on-month figure is expected to show just a 0.1% increase, and any deviation from this will likely result in significant movements in the pound, with anything lower likely to put more pressure on the Bank of England ahead of next week’s interest rate announcement. There is little on the calendar in the New York session today, which should see smoother trading conditions; however, as above, with indices at all-time highs and the Fed update still fresh in investors’ minds, most traders are expecting another lively session.

Market Analysis - 12/12/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Ease Ahead of the Fed Meeting – Dow off 0.45%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US markets eased lower in the latest session as traders grew increasingly wary ahead of this week’s crucial Federal Reserve decision. With fears rising that the Fed may deliver a less dovish message than markets have priced in, risk appetite faded, and equities shifted into reverse. The Dow led the declines, slipping 0.45% to 47,739, while the S&amp;P 500 dipped 0.35% to 6,846, and the Nasdaq edged 0.14% lower to 23,545. The shift in expectations pushed the US dollar and Treasury yields higher once again; the DXY gained 0.12% to 99.10, while yields climbed across the curve, with the US 2-year rising 1.5 bps to 3.575% and the 10-year gaining 2.9 bps to 4.164%. Oil prices fell after reports confirmed Iraq had restored output at one of the world’s largest oilfields. Brent dropped 1.96% to $62.50, and WTI fell 2.05% to $58.65 a barrel. Gold also drifted lower, slipping 0.19% to $4,189.23 as higher yields and a stronger dollar reduced investor demand.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Dollar in Focus for FX Traders This Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">In a week full of interest rate calls from some major central banks, there is no doubt about which one will have the biggest effect on the major currency pairs. The RBA, Bank of Canada, and SNB will clearly have impacts on their respective currencies, and there will be good trading opportunities on the crosses, but for the majors, the Fed is likely to dominate moves into the year end and into 2026. Some market players are calling this one of the most contentious Fed meetings in recent times, with updates from various Fed members over the past few weeks adding considerable fuel to the fire. If we do get the expected cut, the forward guidance that we get from the Dot Plot, Statement, and Jerome Powell’s subsequent press conference will be key, with the risk probably still sitting with a much less dovish FOMC for 2026 than the market is expecting and stock markets are hoping for.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Event Calendar Kicks into Action</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Today marks the start of a busy few days on the macro front, with key updates from central banks and data due across all three trading sessions. The Reserve Bank of Australia kicks off a packed week of central bank activity in the Asian session today; the market is firmly expecting rates to remain on hold, but traders are expecting plenty of volatility around the statement and press conference. Attention then shifts to Europe, where Bank of Japan Governor Kazuo Ueda speaks in London, before the Bank of England’s Monetary Policy Report Hearings later in the day, both events likely to spark moves in their respective currencies. The New York session sees the first major update from the US for the week, with the JOLTS job openings data due out for both September and October. The data will offer another key insight into labour market tightness ahead of the Fed.

Market Analysis - 09/12/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Push Higher into Weekend – Nasdaq up 0.3%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US markets closed the week on a slightly firmer footing, with all three major indices posting modest gains on Friday after key inflation data came in line with expectations. The Dow added 0.22% to finish at 47,954, the S&amp;P 500 edged up 0.19% to 6,870, and the Nasdaq rose 0.31% to 23,578. The USD Index slipped 0.07% to 98.99, while Treasury yields pushed higher, with the 2-year rising 3.8 bps to 3.560% and the 10-year up 3.7 bps at 4.135%, despite markets maintaining a firm view that the Federal Reserve will cut rates this week. Oil extended its recent advance, with Brent climbing 0.77% to $63.75 and WTI up 0.69% at $60.08 a barrel, supported by expectations of easier Fed policy and ongoing geopolitical concerns involving Russia and Venezuela. Gold ended the session lower, slipping 0.24% to $4,197.78 after an early-session spike as high as $4,250 faded swiftly.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Central Banks in Focus This Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Central banks are a huge focus for traders this week, with four key developed nations set to update the market on interest rates. The Reserve Bank of Australia, the Bank of Canada, the Federal Reserve Bank and the Swiss National Bank are all due to announce rate decisions in the coming days. The RBA, the BOC and the SNB are all expected to keep rates on hold, whilst the Fed is strongly priced in for a 25-basis-point rate cut. Even if all does go according to plan in terms of actual rate plays, forward guidance from all four central bank committees is likely to lead to plenty of volatility in markets. We have seen sharp changes in rate move expectations for central banks in recent months as data continues to test markets, and each of this week’s banks have their own unique challenges, which should lead to strong trading opportunities around the rate update events.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Quiet Start to a Huge Week Ahead for Market</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The week begins quietly with very little scheduled on today’s macroeconomic calendar. However, activity will accelerate rapidly in the coming days, with multiple central bank decisions and key data releases set to shape market direction as the week progresses. There was very little in terms of geopolitical updates over the weekend to spur markets one way or the other, and we have seen a relatively quiet start to the trading week today. In the Asian session, there is a big data dump due out of Japan today, with final GDP numbers coming out alongside the current account figures, but these are expected to have little impact. The London session also has little on the calendar, although traders will note that Italian markets are on holiday today. It’s similarly quiet in the New York session today as well very much the calm before the storm later in the week although sterling traders will pay attention to MPC members Taylor and Lombardelli when they speak later in the day.

Market Analysis - 08/12/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Push Higher after Weaker Data – Dow up 0.8%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stocks pushed higher in the latest session, extending their recent momentum as weaker-than-expected US jobs data strengthened expectations for an imminent Federal Reserve rate cut. The Dow led the gains, rising 0.86% to close at 47,882, while the S&amp;P 500 added 0.30% to finish at 6,849. The Nasdaq advanced more modestly, up 0.17% at 23,454. The softer ADP Non-Farm figures drove Treasury yields lower, with the 2-year slipping 2.4 basis points to 3.484% and the 10-year easing 2.7 basis points to 4.059%. The US dollar also weakened further, with the USD Index falling 0.46% to 98.87. Oil prices continued to move higher as faltering Russia–Ukraine peace talks kept geopolitical tensions elevated. Brent crude rose 0.56% to settle at $62.80, while WTI crude climbed 0.82% to $59.12. Gold traded in another rare tight range, slipping marginally by 0.05% to close at $4,204.13.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Pound in Focus for FX Markets</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Sterling jumped into trader focus yesterday as the FX Gods aligned to see it drive higher against the dollar and on the crosses. Cable powered over 1% on the day with little respite in the move, and it was a similar story on the crosses, with EUR/GBP losing 0.6% across all three trading sessions. There was no definitive driver of the move, but it appears that several factors combined to cause the outsized move. Most traders agree that the speculative side of the market was short, and stop-losses in Cable above 1.3270 and 1.3300 would have contributed to the move. Services and Composite PMI data also came in stronger than expected, but not by a degree that you would normally expect to move the market by that degree. The weaker US ADP number would have contributed to the move in Cable, and this could have fed through to cross moves as well, but overall, traders feel that the move may have been overdone given other moves in the majors. Now, traders will be watching the pound closely in the coming sessions to see whether the move is justified or whether we see a bit of retracement back into recent ranges.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Quieter Day on the Economic Calendar Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The macroeconomic calendar is quieter during the first two sessions of the day today, but attention will shift back to the US tonight with the release of some key labour-market indicators. Investors will be watching Challenger job cuts data earlier in the session, which has sprung up in importance since the government shutdown; last time out, they came in at 173%, and anything higher is likely to back last night’s ADP data miss and push rate-cut expectations up even further. Later in the session, we have the release of the weekly unemployment claims, with expectations for a 219k print firmly priced in. Canada’s Ivey PMI is also scheduled north of the border, with anything significantly off the expected 53.6 print likely to see volatility in the loonie.

Market Analysis - 04/12/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Push Higher Ahead of Nvidia and Jobs Data – Nasdaq up 0.6%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stocks pulled back some of their recent losses in choppy trading yesterday, with the Dow finishing up 0.10% at 46,138, the S&amp;P 500 rising 0.38% to 6,642, and the Nasdaq gaining 0.59% to 22,564. Investors are likely to find further support today following a strong post-close earnings update from Nvidia, which helped sentiment in tech-heavy sectors. The US dollar surged 0.58% to 100.13 after more hawkish FOMC meeting minutes, while Treasury yields also climbed, the 2-year up 1.9 basis points to 3.592% and the 10-year rising 2.3 basis points to 4.137%. In commodities, oil prices retreated on news of a renewed US push to negotiate an end to the Russia–Ukraine conflict; Brent closed down 1.85% at $63.66 and WTI fell 2.14% to $59.58. Gold, meanwhile, edged 0.26% higher to $4,077.98 as investors awaited fresh US labour market data.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Jobs Numbers to Dominate Markets</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The long-delayed US employment figures for September are at last due to be released later today, and traders are expecting to see plenty of moves in the market around the event. Jobs numbers over the US summer had deteriorated significantly, which had led to a much more dovish Fed and had elevated investor hopes for further rate cuts to stimulate the economy. However, the US government shutdown, which commenced on October 1, delayed the release of the tier 1 data until today, and although we have seen a 25-basis point cut in the interim period, market pricing and last night’s Fed meeting minutes have now reduced the likelihood of a further cut in December to 32%—having stood at 95% a month ago. A much weaker-than-expected print compared with the anticipated 60k increase could really put the cat amongst the pigeons and see further sharp corrections in the market. Whatever the result, most traders are expecting plenty of volatility around the release.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Non-Farms Day – At Last!</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Today brings the long-awaited Non-Farm Payrolls report, with September data arriving 48 days late. There is little on the event calendar in the first couple of sessions of the day, although Chinese Loan Prime Rate updates could move markets in the unlikely event that there is a surprise. However, it is a different story once New York opens. Traders are bracing for heightened volatility as we get our first tier-one look at US employment data in weeks; the headline Non-Farm Employment Change is expected to come in around the +60k mark, with the Unemployment Rate remaining steady at 4.3% and the Average Hourly Earnings printing at +0.3% again. Existing home sales data (exp. 4.08 mln) will also be released later in the session, but expect the jobs numbers to dominate sentiment into the close.

Market Analysis - 20/11/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Markets Mixed into the Weekend – Dow down 0.65%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US markets closed mixed on Friday as investors continued to assess the likely timing of upcoming economic data releases and the implications for Federal Reserve rate-cut expectations. The Dow slipped 0.65% to 47,147, while the S&amp;P 500 edged lower by 0.05% to 6,734, and the Nasdaq managed a modest gain of 0.13%, finishing at 22,900. The US dollar also firmed, with the DXY rising 0.13% to 99.27. US Treasury yields moved higher as well, with the 2-year yield climbing 1.5 bps to 3.606% and the 10-year yield rising 2.9 bps to 4.148%. In commodities, oil prices jumped sharply after a key Russian port suspended exports following a Ukrainian drone strike. Brent was up 2.19% to $64.39, while WTI gained 2.39% to $60.09. Gold, however, sold off heavily under renewed Fed hawkishness, dropping 2.09% to $4,084.06.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Dollar in Focus with Return of Data and Fed Rate Hopes</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The US dollar increased in trading on Friday, with the DXY rising 0.13% to 99.27, reflecting a shift in rate sentiment as expectations for a December Fed cut continued to fade. The market has now flipped, with a hold more likely than a cut in December, as several Fed officials, including Chair Jerome Powell, have said inflation remains a concern. The futures market is now pricing in only a 41% chance of a 25-basis-point cut at the final meeting of the year, down from over 95% just a few weeks ago. The return of data this week, especially the Non-Farm Payrolls, will see more volatility for the dollar. If those numbers start to show a bit of resilience for the jobs market, then traders expect chances of a rate cut falling further south and the dollar to appreciate.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">More Volatility for Markets Ahead Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">With the US government now fully reopened and long-delayed data releases set to resume, traders are expecting increased volatility through the week. It’s a relatively quiet calendar day to start the week ahead for traders today; however, there is some data that could move local markets. The initial focus for the Asian session today will be on Japan, where preliminary GDP figures are due early in the day, with the market expecting the quarterly number to show a 0.6% decline. There is little on the cards in the European session to move the market, but later in the New York session, Canada releases its latest CPI data (exp +0.2% m/m and +3.1% median y/y), which should see some strong reactions in the loonie. The US Empire State Manufacturing Index (exp 6.1 vs prev 10.7) is also released at the same time; however, expect investor concerns on Fed moves to continue to dominate sentiment for the initial sessions of the week.

Market Analysis - 17/11/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Hit After Government Reopens – Nasdaq off 2.3%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US equities dropped sharply on Thursday as traders digested the government’s reopening after a record 43-day shutdown. Inflation concerns and shifting rate-cut expectations were the main drivers as investors became nervous ahead of renewed data releases. The Dow dropped 1.65% to 47,457, the S&amp;P 500 fell 1.66% to 6,737, and the Nasdaq led losses with a 2.29% slide to 22,870. The US dollar fell against the majors, the DXY slipping 0.32% to 99.15, while Treasury yields pushed higher as markets reassessed the Fed outlook. The 2-year yield rose 2.3 bps to 3.591%, and the 10-year gained 3.7 bps to 4.106%. Commodities were mixed. Brent edged up 0.32% to $62.91, and WTI added 0.22% to $58.62 following the previous day’s steep decline. Gold, despite an early push higher, reversed to finish the NY session down 0.57% at $4,171.52 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fed Rate Cut Drops to a 50–50 Chance in December</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Expectations for a Federal Reserve rate cut in December have taken a sharp drop in the last few weeks, with estimates from the CME’s FedWatch dropping from a near-certain rate cut (over 95% a month ago) to now at a 50% chance. The US government’s reopening, which had fuelled positive risk sentiment in the early part of the week, saw a dramatic turnaround in trading yesterday when it occurred. Originally, thoughts that the resumption would see data renewed and confirm a rate cut from the Fed have led to increased concerns that the lack of recent data will force the FOMC to hold fire until it has more certainty about the state of the economy. Jobs numbers, which we have missed two releases of, and inflation data, as always, will be closely watched if or when they come out, with traders anxiously awaiting updates on when we will have the next releases and what form they will take. In the meantime, expect more volatility on news updates and what could then become a very ‘live’ Fed meeting in December.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Quiet Calendar Day to Close Out the Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It is a quiet calendar day ahead for traders today, with little in the way of data or major central bank updates to move markets; however, volatility is expected to remain relatively high as the US government reopens and investors look ahead to renewed data releases. The Asian session does have some big data coming out of China that could move local markets: Industrial Production (exp. 5.5% y/y), Retail Sales (exp. 2.7% y/y), and the Unemployment Rate (exp. 5.2%) are all due out midway through the day. There is little scheduled in the London session to move markets; however, once again, the New York day is expected to see plenty of action as traders hear the latest updates on the reopening of the US government and data release updates. We are also set to hear from Fed members Schmid, Logan, and Bostic towards the end of the day.

Market Analysis - 14/11/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Flat on Earnings, but Gold Smashed down 5%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stocks had a relatively flat day yesterday as mixed earnings results across sectors hit the market. The Dow performed the best, closing up 0.47% at 46,924, while tech stocks suffered due to a weaker Netflix update, with the Nasdaq closing down 0.16% at 22,953, and the S&amp;P remaining flat at 6,735. US Treasury yields had a relatively quiet day; the 2-year was flat, closing again at 3.455%, while the 10-year lost 1.7 basis points to move down to 3.963%. The dollar pushed higher against the majors, with the DXY up 0.37% at 98.95. Oil prices pushed higher off recent lows, with Brent up 1.03% to $61.64 and WTI up 0.39% to $57.24 a barrel. Gold and silver were the outstanding moves on the day, as they experienced their biggest down days for the year, with gold off 2.30% to $4,125.22 and silver down 7.48% to $48.40.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Gold Smashed in Trading Yesterday</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Gold’s relentless recent rally took more than a breather last night as it crashed over 5% on the day, and as with the moves higher, there appears to be no real solid catalyst for the move. There was no major update on geopolitical risks, etc., and not a huge move in the dollar, so we are probably seeing some large profit-taking flow coming through the market. From a technical perspective, the move did halt nearly perfectly on the support trendline on the daily charts, and therefore, traders are expecting to see more volatility in the hours ahead. A further break would open the way for a move to the next trendline support near $4,000, with the next major support after that at the September breakout level at $3,500. If the topside trend resumes, then the target will again be the recent record highs just under $4,400 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Quiet Calendar Day Again, but More Volatility is expected</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It is another quiet day on the macroeconomic calendar today, although UK data in the London session will be a focus, as will further quarterly earnings reports in the US session. After a relatively quiet day on Wall Street, the Asian session is likely to start mutedly today, although FX and metals traders will remain vigilant following yesterday&#39;s moves. The London session will see the release of key inflation numbers, with both the CPI (exp. 4.0% y/y) and PPI (exp. 0.3% m/m) data due out. We also hear from ECB President Christine Lagarde again as she continues on her recent global speaking tour. The US session will see the release of the weekly US crude oil inventory data (exp. 2.2 barrels), and we will hear from FOMC member Michael Barr, but expect volatility to come from earnings numbers and geopolitical updates.

Market Analysis - 22/10/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Drift as Shutdown Continues – Nasdaq down 0.7%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stock indices fell in trading yesterday as the government shutdown continued with no sign of a resolution. The Dow dropped 0.20% to 46,602, the S&amp;P lost 0.38% to move down to 6,714, and the Nasdaq lost 0.67%, closing at 22,788. The dollar pushed higher, with the DXY up 0.49% to 98.59, notably higher against the yen as the market continued to react to Sanae Takaichi’s surprise leadership victory over the weekend. Treasury yields pulled back, with the 2-year down 2.1 basis points to 3.568% and the benchmark 10-year down 2.7 basis points to 4.125%. Oil prices pushed higher as markets continued to reprice the lower-than-expected production increases from OPEC+, with Brent up 0.40% to $65.73 and WTI up 0.55% to $62.03. Gold continued to drive higher, hitting yet another all-time high just under the key $4,000 level, closing the day up 0.53% at $3,981.94 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Yen in Focus for FX Traders</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The yen remains very much in focus for the FX world at the moment after Sanae Takaichi’s surprise victory in the prime ministerial race led to a huge depreciation in the currency. Takaichi has pledged to boost the Japanese economy with aggressive spending and has been critical of the Bank of Japan’s interest rate hikes in the past, and traders were not prepared for her to become the next prime minister. The yen hit an all-time low against the euro earlier in the week and then fell to a seven-month low against the dollar overnight, with little in the way of retracements in the moves. USD/JPY is now trading nearly 3% above Friday’s close, and experienced FX traders are now starting to factor in the potential for official intervention in the currency if the speed of depreciation continues. From a technical perspective, long-term resistance now comes in around the 154.50 level, and a break higher from there could see recent multi-decade levels above 160.00 come into focus. It is unlikely that the MOF and BOJ will allow that to happen in short order, so traders are preparing for more volatility in the days ahead.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Central Banks in Focus Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It is another quiet day in terms of data releases for global markets today; however, there are two major central bank updates scheduled, as well as a plethora of central bankers set to speak. Chinese markets complete their long holiday today, but the major focus for the Asian session will be the Reserve Bank of New Zealand’s interest rate call. The bank is well priced in to lower the Official Cash Rate to 2.75% from 3.00%, and even though no press conference is scheduled, bearing no surprises on the rate call, any changes in forward guidance from the rate statement could see moves in the Kiwi dollar. The other major event of the day comes close to the end of the New York session with the FOMC’s meeting minutes due for release. As always, anything new from the committee will see strong moves in the market, particularly with no data updates from the US at the moment. There is a raft of central bankers set to speak during the day, including the ECB’s Christine Lagarde and Fed members Musalem, Barr, Goolsbee, Logan, and Kashkari. However, as we have had updates from all of the above over the last few days, traders are expecting their speeches to have minimal impact on markets.

Market Analysis - 08/10/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stocks Push Higher After Inflation Data – Dow up 0.65%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stock indices pushed higher in trading on Friday to close out the week in a positive mood after key US inflation data came in on expectations. The Core PCE data, the Fed’s favoured indicator, hit market expectations, increasing market pricing for another rate cut in October. The Dow gained 0.65% to 46,247, the S&amp;P rallied 0.59% to 6,643, and the Nasdaq added 0.44% to move up to 22,484. The dollar took a hit after the data, the DXY closing down 0.38% at 98.18, while treasury yields were mixed: the 2-year down 1.2 basis points to 3.643% and the 10-year up 0.6 of a basis point to 4.176%. Oil prices moved higher again as geopolitical concerns increased on the escalating conflict in Ukraine, Brent up 1.02% to $70.13, and WTI up 1.14% to $65.72 a barrel. Gold also pushed back towards all-time levels hit earlier in the week on the back of those increased concerns and the weaker dollar, up 0.28% on the close to $3,759.98 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Geopolitical Risks Increase to Start the Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">There has been a lot of focus on central banks over the last couple of weeks for investors, with the Fed, of course, front and centre after it made its first rate cut of the year. However, traders are now turning their attention to geopolitical risks that have been increasing over the last few weeks, particularly in Ukraine, where the war with Russia seems to be escalating sharply rather than receding. Just a few weeks ago, we had President Trump strongly touting a pending ceasefire, but the situation seems to have flipped sharply, and markets are reacting. Both Brent and WTI contracts recorded their best weeks since mid-June last week, and we have seen Gold hit record levels over the last week as well. Expect trader focus to remain on Ukraine in the coming days, with any further escalation in the fighting likely to see strong moves north for both Oil and Gold.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Quiet Calendar Day to Start the Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It’s a relatively quiet data calendar day to kick off what will probably be another lively week ahead for global markets. There is little scheduled in the Asian session today, although traders may be pricing in the escalating conflict in Ukraine after more drone strikes over the weekend, which could see havens and Oil rally on the open. The London session sees the first of the week’s key inflation updates drop, with Spanish Flash CPI (exp +3.1% y/y) due out early in the day. We are also set to hear from several central bankers during the course of the day, with the MPC’s Ramsden and Buba President Joachim Nagel speaking early in the day before a raft of Fed members, including Waller, Hammack, Musalem, Williams, and Bostic, hit the circuit. The New York session also sees the first US data of the week in the form of the Pending Home Sales numbers; however, expect data coming later in the week to have a considerably greater impact.

Market Analysis - 29/09/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Nasdaq Hits Record High, Gold Surges Amid Geopolitical Tensions and Fed Uncertainty</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stocks reflected positive sentiment yesterday, with the Nasdaq hitting another record high, up 0.23% to 15,840, while the S&amp;P 500 rose 0.18% to 4,565, and the Dow Jones gained 0.12% to 35,720. Technology stocks led the gains after Nvidia announced a $100 billion investment in OpenAI to build data centers using its own processors. This eased concerns over an AI bubble and supported further tech stock rallies. US Treasury yields moved slightly, with the 2-year yield up 1 basis point to 3.56% and the 10-year yield up nearly 2 basis points to 4.10%, reflecting investor caution ahead of key economic data. The US dollar rose 0.50% against major currencies, reaching 97.36, indicating stable risk sentiment and Fed policy expectations. Oil markets remained stable but were pressured by slower growth forecasts in the US. Brent fell 0.63% to $67.52/barrel, while WTI dropped 0.75% to $63.57/barrel, reflecting cautious sentiment. Gold also rose 1.39%, closing at $3,743.78/ounce, setting a new all-time high. Prices were supported by Middle East tensions after France recognized the State of Palestine, US work visa restrictions, and Fed policy uncertainty, boosting safe-haven demand.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US PMI Data – Key Signal for Stocks and Gold Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Today’s trading focuses on the preliminary US September S&amp;P Global Manufacturing and Services PMI, scheduled for release at 21:45 (GMT+8). The data will provide the first snapshot of the US economy this month. If PMI remains stable, US equities may be supported; if it softens, expectations for Fed rate cuts could rise, benefiting gold and other safe-haven assets.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">European and North American Data Driving Markets Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Globally, Asian traders are closely watching the Bank of Japan’s monetary policy, expected to keep rates at 0.5%. In Europe, investors are eyeing UK retail sales (forecast +0.4% m/m) and Canada (forecast -0.6% m/m), likely creating volatility for GBP and CAD. The US session will remain active with the PMI release and Fed signals. With these key data points and central bank statements today, investors need to monitor economic indicators closely to guide trading strategies.

Market Analysis - 23/09/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stocks Drift Ahead of the Fed – Dow Jones Down 0.3%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stocks drifted lower ahead of today’s key Federal Reserve Bank rate decision, whilst the dollar crashed despite stronger Retail Sales data. The Dow finished down 0.27% at 45,757, the S&amp;P lost 0.13% to 6,606, and the Nasdaq fell just 0.07% to 22,333. Treasury yields pulled further back on the day despite a rally on the data, the 2-year down 3.4 basis points to 3.503% and the 10-year down 1 basis point to 4.028%. The dollar took a hit, with the DXY losing 0.66% on the day to close at 96.66. Oil prices continued to move higher as traders priced in a weaker dollar and increased geopolitical issues, with Brent up 1.56% to $68.49 and WTI up 1.99% to $64.57 a barrel, whilst gold again hit a fresh high just above $3,700, eventually settling up 0.29% at $3,689.98 on the close.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Dollar Looking Vulnerable into the Fed Meeting</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The US dollar took a big hit in trading yesterday as FX traders looked to cover the possibility of an outsized cut at the conclusion of today’s Fed meeting, or a more dovish outlook from the FOMC. The dollar index is now sitting just 30 points above the annual low after some key breaks in major currencies yesterday, ahead of today’s Fed announcement. The key mover was the euro, which broke higher to hit a 4-year high against the dollar, but support also broke in the USDJPY, which added to the index’s woes. FX traders are now bracing for a lively few days ahead with currencies guaranteed to move. The chance of a 50-basis-point cut is now around 10%, but this would likely see the dollar crash to fresh lows. However, the likelihood is that we see a 25-basis point cut, and moves will come from the forward guidance that we receive from the FOMC. A more dovish outlook will see the dollar move further south, whilst if they remain more cautious, then we could see a sharp correction of recent moves and the dollar push back into recent ranges.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fed in Focus Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It is a busy day on the macroeconomic calendar today, with the major event being the Federal Reserve rate decision towards the end of the day. However, there are some other major events scheduled, and although not expected to have as much of an impact as the FOMC, they could see strong moves in local markets. There is little scheduled in the Asian session, but we do have big data due out of the UK soon after the European open. The latest inflation number is due out, with the year-on-year CPI number expected to come in at 3.8%, still well above the MPC&#39;s target. The New York open will see the initial focus north of the border for the Bank of Canada interest rate decision, where they are expected to cut rates by a further 25 basis points. This is followed by the US Crude Oil Inventory data. However, the main event will come towards the end of the session when we at last have the long-awaited cut from the Fed.

Market Analysis - 17/09/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stocks Push Higher Ahead of the Fed – Nasdaq up 1%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stocks pushed higher in trading yesterday ahead of an anticipated rate cut from the Fed later in the week. Both the Nasdaq and the S&amp;P hit record closes again; the Nasdaq closed up 0.94% at 22,348, the S&amp;P added 0.47% to 6,615, and the Dow Jones finished up 0.11% at 45,883. Empire State Manufacturing data came in worse than expected, pushing both yields and the dollar lower: the 2-year off 1.9 basis points to 3.537%, the 10-year down 2.7 basis points to 4.037%, and the DXY 0.2% lower at 97.36. Oil prices pushed higher again, with Brent up 0.67% to $67.43 and WTI up 0.89% to $63.25 a barrel. Gold again hit record highs on the back of the lower dollar, closing the day up 0.98% at $3,678.99, having topped out at $3,685.39 earlier in the day.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Sterling in Focus as Data Rolls into the Bank of England</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It is a big week across financial markets, with the key Fed rate decision probably first and foremost in most traders’ minds. However, FX traders feel they may get more bang for their buck in the next few days in the pound, which has some key data due out around the next rate call from the Bank of England. Both employment data and inflation numbers are due out this week on consecutive days ahead of the interest rate decision, and both have the propensity to push Cable and the crosses to fresh levels if they come in significantly off expectations. Employment data is due out later today, with the Unemployment Rate set to remain high at 4.7%. The CPI number is expected to be released tomorrow, with the forecast indicating it will remain “sticky” at 3.8% year-on-year. These numbers are likely to influence the MPC&#39;s decision on Thursday. Any significant deviations in the prints, although unlikely to affect this week’s rate call, could impact future moves and be reflected in the currency.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Data in Focus for Traders Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Traders will be focusing on some key data releases in the sessions today, ahead of a raft of crucial central bank interest rate decisions in the coming days. There is little on the schedule in the Asian session, although markets are expected to push higher after another strong day on Wall Street. The European session will see a strong focus on UK markets, with employment numbers due out early in the session. The Claimant Count (exp. 15.3k), Average Earnings Index (exp. 4.7% 3m/y), and the Unemployment Rate (exp. 4.7%) are expected to see moves in sterling ahead of Thursday’s Bank of England rate call. The New York session sees a big data hit early in the day, with US Retail Sales (exp. 0.2% m/m) and Core Retail Sales (exp. 0.4% m/m) releases out alongside Canadian CPI (exp. 0.0% m/m) and Trimmed Mean CPI (exp. 3.0% y/y) data.

Market Analysis - 16/09/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Push Higher Ahead of Inflation Data – Dow Jones up 0.4%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stock indices again pushed higher in trading yesterday, with both the S&amp;P and Nasdaq registering record closes. The Dow jumped 0.43% to 45,711, the S&amp;P added 0.27% to 6,512, and the Nasdaq gained 0.37% to 21,879. Treasury yields and the dollar both regained some of their recent losses ahead of inflation data due out later today. The DXY gained 0.31% to 97.77, while the 2-year yield added 7 basis points to move back to 3.556% and the 10-year yield added 4.4 basis points to move back to 4.084%. Oil prices pushed higher after Israel attacked Hamas leaders in Qatar, with Brent up 0.68% to $66.47 and WTI up 0.69% to $62.70 a barrel. Gold pulled back after recording another new high, finishing the day down 0.25% at $3,625.81 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Inflation Data Key This Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">All eyes will be on US inflation data this week, after expectations for more Fed rate cuts were priced into the market following last week’s employment numbers. FX traders will be paying particular attention to the numbers, with the dollar on the back foot against most of the majors. On-target or lower-than-expected prints from either tonight’s PPI, Thursday’s CPI numbers, or both would see the market strongly pricing in more rate cuts into the new year. At the moment, the market is looking at a 61% chance of seeing three rate cuts by year-end, and this week’s numbers could go a long way toward deciding whether we have two or three cuts in the pipeline. This could have significant implications for the dollar in the coming months.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Economic Event Calendar Livens Up for Traders Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The macroeconomic calendar kicks into action today with some key inflation data due out across the sessions. Geopolitical updates will again provide stimulus for markets, in addition to fundamental updates, with a strong focus on the Middle East after yesterday’s missile attack by Israel on Hamas leaders in Qatar. The Asian session will be in focus, with Chinese markets expected to be influenced by the release of both CPI (exp. -0.2% y/y) and PPI (exp. -2.9% y/y) numbers. There is no tier-1 data due out in the London session today; however, we do hear again from Swiss National Bank Chair Martin Schlegel, who could see moves in the franc. The major data update of the day comes in the New York session with the first of two key inflation updates for the week. The US PPI data is due out, with both the month-on-month PPI and Core PPI numbers expected to print at +0.3%. The weekly US Crude Oil Inventory data is due out later in the session, but expect the PPI numbers to dominate sentiment, especially if they miss expectations.

Market Analysis - 10/09/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stocks Rally to Record Levels After More Weak Data – Nasdaq up 1%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The three major US stock indices all rallied in trading yesterday after more jobs numbers came in weaker than expected. The ADP Non-Farms number printed lower than expected, and unemployment claims rose, pointing to a weakening jobs sector ahead of today’s key Non-Farms update. The Dow Jones rose 0.77% to 45,621, the S&amp;P hit a record close, up 0.83% to 6,502, and the Nasdaq added 0.98% to 21,707. Treasury yields dropped to 4-month lows after the data, the 2-year down 2.9 basis points to 3.587% and the 10-year down 5.6 basis points to 4.161%. However, the dollar managed to make slight gains against the majors, the DXY up 0.13% to 98.27. Oil prices dropped again after US inventories jumped, Brent down 1.18% to $66.80 and WTI down 1.05% to $63.30 a barrel. Gold took a breather after historic rises over the last few days, closing down 0.38% at $3,545.82 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Potential for a Hit on Non-Farms</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It will be all about the Non-Farm Payroll data for traders today, with FX players in particular expecting to see some big moves after the data is released. We have already had three other job numbers out of the US this week, and all three, the JOLTS Job Openings, the ADP Non-Farms, and the Weekly Unemployment Claims, have pointed to a weakening jobs market and therefore more and quicker interest rate cuts from the Fed. If we see a much weaker-than-expected print from the NFP tonight, then several major FX pairs are poised for big moves. Euro, Cable, and the Aussie are sitting near strong long-term support lines, and USDJPY and USDCHF are near resistance trendlines. A weaker print should see those currencies appreciate against the US dollar, with traders able to utilize those levels. A much stronger-than-expected number would be a real shock and could lead to big break trades of those levels and even bigger moves. Whatever the case, it’s likely to be a busy final session of the week.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Non-Farm Payroll Day for Traders</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It is Non-Farm Payroll Day today, and traders are expecting to see classic trading conditions in the sessions ahead, with markets likely to remain range-bound ahead of the key employment data from the US. There is little of note on the calendar in the Asian session, but markets are expected to start on the front foot after a strong day on Wall Street. The London session does see the release of UK Retail Sales numbers (exp +0.3% m/m), but the major focus will be on the US numbers once New York opens. The headline Non-Farm Payroll number is expected to show a 75k rise in jobs in August, with the Average Hourly Earnings remaining steady at +0.3% and the Unemployment Rate creeping up to 4.3%. Any significant deviations from that will see big moves in the market. The Canadian employment numbers are out at the same time, Employment Change (exp +4.9k) and Unemployment Rate (exp 7.0%), which could give Loonie traders a bit of a headache, but expect the US data to dominate sentiment.

Market Analysis - 05/09/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Quiet Markets to Start the Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US markets were closed yesterday, so most financial products had a relatively quiet day to start what could be a very busy week. US stock futures ticked a bit higher in trading, in line with moves higher in Europe and a tech rally on Asian bourses. FX markets were, of course, open, and the dollar moved lower ahead of key jobs updates this week, the DXY down 0.09% to 97.68. Oil markets did move, with contracts on Brent up 0.99% to $68.15 and on WTI up 0.94% to $64.61, as investor concern increased that the war in Ukraine will escalate further as both sides increase airstrikes rather than head towards the hoped-for ceasefire. Gold also gained ground again on haven flows to move within touching distance of the all-time high, eventually closing up 0.81% at $3,476.07 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Gold in Focus as Record Set</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Gold is in focus for traders today as it jumped early in the Asian session to power through resistance levels and record a fresh all-time high at $3,508.50. Most other financial products have been relatively quiet over the last few sessions, but Gold has pushed just over 2% from its low early Monday morning. An anticipated rate cut from the Fed in a couple of weeks has led to some downside for the dollar, which has contributed to the move higher for the world’s favorite precious metal. However, increased concerns over geopolitical issues, primarily the continued conflict and signs of escalation in Ukraine, have led to this recent move higher. The week ahead could be pivotal for XAUUSD from a fundamental perspective, with key US jobs numbers due out, and any further weakening should see this move continue. The risk for this move probably comes from positive geopolitical updates, which could see a sharp correction. However, until we see any change in the current environment, expect Gold to continue to remain bid on any dips.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Calendar Picks Up Today into a Busy Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It was a quiet start to the week yesterday for traders, with mainly rangebound conditions persisting as desks took advantage of a US holiday to keep their powder dry. However, things will start to build up today, both on the calendar and with US traders returning to their desks. The Asian session should remain relatively quiet with nothing of note on the cards, but things should liven up once Europe enters the fray. Inflation data is in focus in the EU, with the CPI Flash Estimate (exp. +2.1% y/y) and the Core CPI Flash Estimate (exp. +2.2% y/y) data out, and traders are expecting the Euro to move around the release. The New York session sees the first tier-one data release of the week, with the ISM Manufacturing PMI (exp. 49.0) and the ISM Manufacturing Prices (exp. 65.1) data due out early in the session. Additionally, this will be the first trading session for US markets to react to the weekend’s tariff updates, so traders are expecting to see plenty of movement as the day progresses.

Market Analysis - 02/09/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Push Higher as Trump Fires Fed Governor – S&amp;P up 0.4%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stocks moved higher in trading yesterday as President Trump increased his attack on the Federal Reserve Bank by firing Governor Lisa Cook. The Dow Jones closed up 0.30% at 45,410, the S&amp;P added 0.41% to move to 6,465, and the Nasdaq gained 0.44% to 21,544. The dollar and Treasury yields fell, with the DXY down 0.20% to 98.24, the 2-year yield down 4.5 basis points to 3.679%, and the benchmark 10-year yield down 1.4 basis points to 4.261%. Oil prices fell from 3-week highs, with Brent down 2.19% to $67.29 and WTI down 2.28% to $63.32 a barrel. Gold jumped higher on the back of haven flows, up 0.82% to $3,393.57 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The Fed Remains Under Attack from the Oval Office</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Traders and investors alike are now trying to analyze the potential impact of further attacks on the Federal Reserve from President Trump and the White House. News that Trump fired Governor Lisa Cook yesterday following fraud accusations (the irony was not lost on many!) sent shockwaves through the market. So far, market reaction has been relatively muted, as it is not seen as having a significant effect on Fed policy. However, concern is growing across global financial markets that Trump is attempting to exert control over the Fed. If this behavior continues or intensifies could undermine confidence in US markets. Another similar move in the short term could trigger a stronger reaction, potentially leading to sharp movements, with the dollar likely to bear much of the impact, alongside US stocks.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Quiet Calendar Brings Geopolitics into Focus</h3><span style="font-size: 11pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It is a quiet day on the macroeconomic calendar; however, traders are anticipating more market movements based on any fresh geopolitical updates, with Ukraine and Fed-related issues very much in focus. The main fundamental update comes early, with all eyes on Australian markets during the Asian session for the latest key inflation release. The market expects the headline year-on-year number to increase by 2.3%. Although this is within the target range, it is substantially higher than the previous 1.9% print. Traders expect that any deviation of ±0.2% from the forecast could trigger significant moves in the Australian dollar. Nothing major is scheduled for the London session, but the usual weekly US Crude Oil Inventory data (expected -1.7 million barrels) will be released when New York opens. Fed member Thomas Barkin will also speak later in the day, which could create some volatility. Overall, any fresh updates are expected to have a greater impact on markets today.

Market Analysis - 27/08/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Markets Jump After Powell Update – Dow Jones up 1.9%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stock markets leapt higher in trading on Friday after Jerome Powell’s speech at Jackson Hole locked in a rate cut from the Fed at its next meeting in September. The Dow surged 1.89% higher to close at 45,631, the S&amp;P jumped 1.55% to 6,466, and the Nasdaq closed 1.88% higher at 21,496. The dollar was smashed after the speech, with the DXY closing down 0.90% at 97.73. Treasury yields also dropped hard as markets repriced in a September cut, with the 2-year down 9.5 basis points to 3.696% and the benchmark 10-year down 7.4 basis points to 4.254%. Oil prices were relatively steady, with Brent up just 0.09% to $67.73 and WTI up 0.22% to $63.66 a barrel. Gold drove higher on the weaker dollar, up 0.99% to $3,371.86 by the close.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Powell Comments in Focus to Start the Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Jerome Powell’s much-anticipated speech from Jackson Hole on Friday led to a surge in US stocks, with the Dow jumping to a record closing high on the back of dovish comments from the Fed Chair. However, many market participants are adding words of caution, as they saw the update confirming only one rate cut in the coming months rather than the start of a harder easing cycle. The FOMC is still concerned about the potential for tariff-driven inflation in the US economy, and some investors fear this could outweigh concerns about the jobs market. The first test for that comes at the end of this week with the key Core PCE Price Index data release, which is expected to show the fastest annual pace in five months. This could well put a dent in rate-cut expectations, not just for September but for the rest of the year.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Steady Calendar Day to Kick Off the Week for Traders</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Traders are expecting follow-through from the Fed’s Jackson Hole symposium and updates from various central bank heads to dominate flow in the first few sessions of the week. We have already seen some moves in the yen on the Asian open after Bank of Japan Governor Kazuo Ueda advised that he expects the Japanese job market to remain tight while speaking on a panel near the end of the event. New Zealand retail sales numbers were released early in the day, with both the headline and the core figures coming in much higher than expected, which has helped support the Kiwi. The European session will see reduced liquidity with UK markets enjoying a long weekend; however, euro traders are expecting some moves around the German IFO Business Climate data (exp. 88.7) release. There is little scheduled in the New York session today as well, although new home sales numbers (exp. 635k) will be closely watched, as will speeches from Fed members Logan and Williams.

Market Analysis - 25/08/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stocks Steady but Dollar Pops as Leaders Meet – USD up 0.3%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">All three of the major US stock indices finished close to flat in trading on Wall Street yesterday as investors analyzed the meeting of international leaders in Washington and looked ahead to key Fed updates later this week. The Dow closed down 0.08% at 44,911, the S&amp;P down 0.01% at 6,449, and the Nasdaq added just 0.03% to finish at 21,629. Currency markets saw more movement, with the dollar pushing higher against the majors, the DXY up 0.30% to 98.15. Treasury yields also pushed higher, the 2-year up 1.2 basis points to 3.763% and the 10-year up 1.8 basis points to 4.334%. Oil also gained ground as traders priced in a lengthier process toward a ceasefire, Brent up 1.06% to $66.35 and WTI up 0.88% to $63.35. Gold remained in recent ranges, closing down 0.10% on the day at $3,332.72 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Focus on Moving from Politics to Central Banks</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Investor focus is expected to swiftly move from politics and updates on the future situation in Ukraine to central banks and rate moves in the next few sessions. Initial meetings between concerned parties with regard to Ukraine have now taken place, and most traders feel that a resolution is some distance away. They will now turn their attention to central bank updates scheduled later in the week. We are due for a rate update from the RBNZ tomorrow and the FOMC’s meeting minutes at the end of the day, but without doubt, the main focus for investors will be the Fed’s Jackson Hole Symposium at the end of the week. We may have some nice entrées from other central banks at the event, but the main dish that we are waiting for is the keynote speech from Jerome Powell. This could potentially set the tone for the next 6–9 months, and if he remains more hawkish than the market is at the moment, we could see some strong moves into the weekend.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Calendar Starts to Pick Up Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The macroeconomic calendar does start to pick up today for traders after a quiet start to what could be a busy week. The Asian session will see an initial focus on antipodean markets with New Zealand PPI data (exp. 1.4% q/q) out early in the session, followed by an Australian consumer sentiment number later in the morning. There is little scheduled later in the day, and it is a similar story for the European session, where traders are expected to continue focusing on any Ukraine updates. However, we do have the first Tier 1 data releases of the week scheduled once New York opens. Canadian CPI numbers are due out early in the session, with the monthly number expected to show a 0.3% increase and the median year-on-year a 3.1% increase. These numbers will be closely watched by both the market and the Bank of Canada, and any big misses will see moves in the loonie. We are also set to hear from the Fed’s Michelle Bowman later in the day when she speaks from Jackson Hole.

Market Analysis - 19/08/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Flat After Inflation Jumps – Dollar Jumps 0.4%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The three major US stock indices all closed flat yesterday after inflation data came in much stronger than expected, slightly pulling back hopes for a Fed rate cut. The Dow finished down just 0.02% at 44,911, the S&amp;P edged up 0.03% to a new record high at 6,468, and the Nasdaq slipped 0.01% to 21,710. The dollar jumped higher against the majors last night after the PPI printed 0.7% higher than expected, with the DXY up 0.37% to 98.30. Treasury yields also rose after the data, with the 2-year yield up 5.7 basis points to 3.732% and the 10-year yield up 5.2 basis points to 4.285%. Oil prices rallied back to a 1-week high as traders looked ahead slightly more pessimistically to today’s summit in Alaska between Presidents Trump and Putin, with Brent up 1.89% to $66.83 and WTI up 2.01% to $63.91 a barrel. Gold pulled back in line with the stronger dollar, down 0.61% to $3,334.79 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">PPI Throws a Spanner in the Rate Cut Works</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Yesterday’s US PPI (Producer Price Index) data may have thrown a bit of a spanner in the works of market expectations for Fed interest rate cuts moving forward. Both the headline and the core numbers came in at +0.9% month-on-month, well above the expected +0.2% prints, indicating that inflation is alive and well in certain parts of the US economy and may justify the Fed’s ‘wait and see’ approach, much to the chagrin of the White House. The market is still strongly pricing in a 25-basis-point cut for September; however, the pricing for another cut in October has dropped by about 10%. The dollar jumped on the data, and traders are now expecting to see further moves today, especially if US retail sales also point to more upward pressure.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Another Busy Calendar Day to Close Out the Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Traders are expecting a busy day to close out the trading week today, with volatility remaining high until the New York close. The initial focus on the Asian day will be on Chinese markets, with a big data drop scheduled midway through the session. The highlights are likely to be Industrial Production (exp +6.0% y/y) and Retail Sales (exp +4.6% y/y), with traders expecting to see action in local markets around the event. Both French and Italian markets are closed today, which should lead to a reduction in liquidity in the European session; however, most traders are again expecting to see the biggest moves in the New York day. There is key data out which will form the initial focus for traders: Retail Sales (exp +0.6% m/m), Core Retail Sales (exp +0.3% m/m), and the Empire State Manufacturing Index (exp -1.2), followed later in the day by the preliminary University of Michigan Consumer Sentiment (exp 61.9) and Inflation Expectations (prev 4.5%), which should see moves in the market. However, the summit between Presidents Trump and Putin will likely cause the most volatility and will have traders glued to the newswires as the day progresses.

Market Analysis - 15/08/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Markets Power Higher into the Weekend – Nasdaq up 1%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stock markets drove higher again on Friday, with the Nasdaq closing at another record level into the weekend. The Dow added 0.47% to move up to 44,175, the S&amp;P gained 0.78% to 6,389, while the Nasdaq pushed up 0.98% to 21,450. Treasury yields pushed higher as investors looked ahead to key inflation numbers this week, with the 2-year up 3.4 basis points to 3.762% and the 10-year up 3.3 basis points to 4.283%. The dollar traded in familiar ranges against the majors, the DXY adding 0.14% to move back to 98.27. Oil prices were steady near recent multi-week lows after news hit the market that Presidents Trump and Putin are likely to meet on 15 August. Brent closed up 0.24% at $66.59, and WTI edged just 0.02% higher to finish at $63.88. Gold also remained steady despite talk of US tariffs being placed on the precious metal, closing up just 0.04% at $3,396.60 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">More Interest Rate Cuts This Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Traders are anticipating another key central bank to cut interest rates this week, with the Reserve Bank of Australia expected to follow the Bank of England’s move last week and reduce rates by 25 basis points. It appears to be an easier call for Australian markets than the UK, which is still battling sticky inflation. However, the RBA shocked markets by keeping rates on hold last time, and only some market outliers feel they can hold off this time. The market is nearly 100% priced in that they will cut tomorrow, and a shock would send the Aussie dollar north at a high rate. Traders are expecting that the real volatility around the event will come from the forward guidance in the statements and from what we hear from Governor Michelle Bullock in the subsequent press conference, with talk of more cuts to come likely to lead to good Aussie dollar selling.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Quiet Calendar Day to Start a Big Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The macroeconomic calendar is relatively quiet today ahead of what could be a pivotal week for financial markets, with key US inflation data due to drop along with an anticipated meeting between Russian and US Presidents Putin and Trump. There was some Chinese inflation data released over the weekend, with CPI data slightly beating expectations, while PPI fell below expectations; however, this has had little impact on the Asian open this morning. Japanese markets are closed for a holiday today, which may affect liquidity in the first session of the day, and New Loans data (exp. 360 bio) is due out of China. Apart from that, there is little else to move the dial on the calendar for the rest of the day. Traders are expecting range-bound conditions but will be keeping a close eye on newswires for any geopolitical updates, especially with regard to US–Russia talks.

Market Analysis - 11/08/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Markets Smashed After Non-Farms – Nasdaq down 2.25%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US markets took a big hit on Friday after non-farm payroll data came in under expectations and previous numbers were revised to significantly lower levels. The three major US indices all took big hits, the Nasdaq leading the way down, dropping 2.24% to 20,650, the S&amp;P lost 1.60% to move back to 6,238, and the Dow fell 1.23% to 43,588. US Treasury yields had a huge day, the 2-year dropping 27.6 basis points to 3.681% and the 10-year losing 14.1 basis points to 4.216%. The dollar dropped hard after the data, the DXY down 0.83% to 99.14. Oil prices also dropped after OPEC+ advised of further production increases, Brent down 2.83% to $69.67 and WTI down 2.79% to $67.33. Gold jumped strongly on the back of haven demand and the weaker dollar, gaining 2.23% on the day to close at $3,362.03 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fed Rate Cut Expectations Jump After Data</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Expectations for an interest rate cut from the Federal Reserve Bank have jumped significantly after weaker jobs numbers on Friday. Employers added just 73,000 new jobs last month, significantly lower than the 106,000 that the market was expecting. A huge revision to previous months’ data, down to 14,000 from 147,000, led to big moves in markets. The market is now pricing in 63 basis points of cuts from the Fed before the end of the year, up from 34 points before the data, with a September cut now being priced in as a near 90% chance. This was a huge move after a more hawkish close to the Fed meeting on Wednesday, and traders will be looking closely at further data in the coming weeks to see if it flips expectations again before the September update.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Quiet Calendar Day to Start the Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It is a quiet start to the week on the macroeconomic calendar today as investors and traders alike look to assess Friday’s jobs update out of the US. Australian markets are closed in the Asian session today, which may impact liquidity in some markets. There are no other notable events on the calendar to move markets. The big data release of the day comes out early in the London session: Swiss CPI data is due out, with the market expecting to see a 0.2% month-on-month decrease, down from last month’s 0.2% rise, and traders are expecting to see moves in the franc around the event. Canadian markets are also on holiday today, which could affect liquidity once the New York session opens. Again, there are no significant events scheduled today; however, traders are expecting to see more reaction to Friday’s employment updates as the session progresses.

Market Analysis - 04/08/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Tech Stocks Hit Fresh Record Levels – Nasdaq up 0.2%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US tech stocks pushed both the S&amp;P and Nasdaq to fresh all-time levels overnight as good Alphabet earnings and positive trade news lifted investor confidence. The Dow did take a hit, losing 0.70% on the day, but the S&amp;P added 0.07%, and the Nasdaq gained 0.18% to notch up record levels again. Treasury yields pushed higher, with the 2-year yield gaining 3.7 basis points to move back up to 3.917%, and the 10-year yield added 1.6 basis points to 4.396%. The dollar pushed higher, the DXY up 0.3% to 97.51, with the Euro dropping lower on the day after the ECB held rates as expected. Oil prices jumped on the back of news that Russia may cut exports, although the move was pared on updates that Chevron may renew production in Venezuela, Brent closing up 1.23% at $69.35 and WTI up 1.44% at $66.19. Gold prices pulled back again as haven flows continued to recede, down 0.55% to $3,368.15 by the close.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fed Remains in Focus for More Than One Reason</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The Federal Reserve Bank is set to announce its latest interest rate announcement next week, and in normal market conditions, this meeting would pass relatively smoothly, with a hold of nearly 100% priced in across the market. However, political pressure on Fed Chair Jerome Powell could make this meeting a little bit more interesting than normal. President Trump visited the Fed building yesterday, and the TV coverage made painful viewing for all concerned, as he was there to undermine the Fed Chair, as his administration has been doing for a number of months now. There are serious question marks on whether Jerome Powell will last the distance in the current circumstances. However, the data doesn’t lie, and at the moment it does not justify a Fed cut this month, and if jobs numbers are strong again next week, we may even see those September cut hopes (currently 60% priced in) pushed out as well. Expect more fun and games at the Fed in the coming days!<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Quieter Calendar Day to End the Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Today marks a quieter macroeconomic calendar day to close the trading week, although there are notable data releases scheduled across all three trading sessions, and we anticipate further geopolitical updates as the day progresses. We have already seen key Tokyo CPI data print slightly lower than expected (2.9% y/y vs. expected 3.0% y/y), but the reaction has so far been relatively muted. The London session sees key Retail Sales numbers out of the UK (exp +1.2% m/m), before focus jumps across the channel to Germany for the IFO Business Climate data (exp 89.1). There is more US data in the New York session with the Durable Goods (exp -10.4% m/m) and the Core Durable Goods (exp +0.1% m/m) due out early in the session. However, traders are again expecting geopolitical updates to dominate the flow into the weekend.

Market Analysis - 25/07/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Markets Consolidate into the Weekend – Dow Jones off 0.3%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stock markets had a more muted day on Friday as investors assessed more tariff updates, strong consumer sentiment data, and more earnings reports in the week ahead. The Dow dropped 0.32%, while the S&amp;P and Nasdaq finished close to flat, down just 0.01% and up 0.05%, respectively. Both the dollar and Treasury yields drifted lower, the DXY down 0.27% to 98.46, the 2-year yield off 3.5 basis points to 3.869%, and the 10-year yield down 3.6 basis points to 4.416%. Oil prices were relatively steady despite more EU sanctions on Russia, Brent closing down 0.36% at $69.28, and WTI down 0.30% to $67.34. Gold traded in a relatively quiet range, ultimately pushing 0.33% higher to $3,349.35 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Japanese Markets and the Yen in Focus After Election</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Japanese markets are set to remain in focus in the days and weeks to come after elections on the weekend that saw the reigning Liberal Democratic Party lose its majority in the chamber. Japanese markets are closed today for Marine Day, but FX markets are, as always, still open, and the yen opened the Asian session higher against the dollar and on the crosses but swiftly filled the gap to the New York close. There is still considerable uncertainty about what will happen in the coming days, with Prime Minister Shigeru Ishiba’s position under threat, and traders expect to see plenty of volatility in the yen as updates on the new government setup hit the wires. USDJPY is currently trading around 148.50, with resistance levels positioned just above 149.00. Although we typically see JPY buying during haven moves, this correlation has not always been followed in recent moves. Further depreciation for the yen on more uncertainty could see a continuation of this month’s trend, with breaks of resistance levels likely to lead to moves up to 150.00 and above.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Geopolitics and Data in Focus Today for Traders</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Asian markets may have a busier session today, with most of the major macroeconomic events on the calendar scheduled for the first trading session. Japanese markets are closed today, but traders are expecting plenty of movement in the yen as the market digests what appears to be an expected loss of majority for the ruling LDP party. We have also seen New Zealand CPI data come out weaker than expected (0.5% q/q vs. exp. 0.6% q/q) this morning, which has led to some selling in the Kiwi, and traders are expecting more flows over the day. Later in the session, the focus will move to Chinese markets for the latest Loan Prime Rate data, both the 1-year and 5-year expected to remain steady at 3% and 3.5%, respectively. There is little of note due out in the London and New York sessions; however, traders are expecting to see more moves across financial products, especially if we hear more updates on tariffs and sanctions.

Market Analysis - 21/07/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Edge Higher on Trade Hopes – Nasdaq up 0.3%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stock markets edged higher in trading yesterday as investors digested trade updates from President Trump that included more negotiations with the EU but also threats to Russia and buyers of Russian oil if a ceasefire in Ukraine doesn’t materialize. The Dow added 0.20%, the S&amp;P rose 0.14%, while the Nasdaq pushed 0.27% higher. US Treasury yields pushed further north ahead of today’s inflation numbers, the 2-year up 1.5 basis points to 3.900% and the 10-year up 2.4 basis points to 4.433%. The dollar also notched up gains against the majors, with the DXY up 0.27% to 98.10, its highest level this month. Oil prices took a hit on Trump’s Russia threats, Brent down 1.80% to $69.09, WTI down 2.34% to $66.85 a barrel. Gold pushed higher as geopolitical concerns increased, up 0.36% to $3,342.90 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Inflation Data in Focus Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">With just fifteen days to go until the next Federal Reserve Bank rate announcement, all eyes will be on key US inflation data later today. Both the headline CPI and core monthly numbers are expected to show a 0.3% increase today, while the year-on-year numbers are expected to indicate an increase of 2.6%, up from 2.4% last month. The market is now pricing in a 95% likelihood that the Fed will keep rates on hold again at the next meeting, but a 60% chance that they cut in September; however, those odds could change sharply if we see a print off those expectations. FX traders are expecting to see some big moves in the dollar if we do get any deviation from expectations. Anything further north could see a continuation of the recent recovery rally that the greenback has experienced as rate cut expectations are pushed further out. At the same time, a softening of the data would make that September cut much more likely and could see the dollar look to explore annual lows again against most of the majors.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Busy Calendar Day for Traders Ahead</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Investor focus is set to move off geopolitical concerns and back to fundamentals today, with some key data due out across all three trading sessions. However, traders will be keeping a close eye on any trade updates later in the day. The Asian session will see a strong focus on Chinese markets with a big data drop midway through the day; the highlights are likely to be the GDP (exp +5.1%), Industrial Production (exp +5.6%), and Retail Sales (exp +5.2%) numbers. The London session sees the release of the monthly German ZEW Economic Sentiment data (exp 50.8), but the big numbers will come shortly after the New York open. Inflation numbers are due out of both the US and Canada, with the US data set to dominate. Canadian CPI (exp +0.1%) could see some moves in the loonie, but the US numbers<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">, CPI (exp +0.3%) and Core CPI (exp +0.3%), will dominate market sentiment.

Market Analysis - 15/07/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stocks Drop into the Weekend, More Tariff Threats - Dow Jones down 0.6%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stocks dipped on Friday as investors weighed upcoming earnings reports and tariff threats, more of which came over the weekend. The Dow led the way lower, closing down 0.63%; the S&amp;P lost 0.33%, and the Nasdaq fell 0.22%. The dollar pushed higher against the majors, with the DXY up 0.22% to 97.87 alongside Treasury yields, the 2-year adding 1.3 basis points to move up to 3.885%, and the benchmark 10-year jumping 6 basis points to close at 4.409%. Oil prices surged as the International Energy Agency advised that the market was tighter than many thought, and President Trump announced that he will make a major statement on Russia on Monday. Brent rose 2.51% to $70.36, and WTI climbed 2.82% to $68.45 a barrel. Gold also pushed higher on tariff concerns, up 0.95% to $3,354.54 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trump Holding All the Cards for Markets Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">In line with much of what we have been seeing in financial markets over the last six months, President Trump and his administration will have a major say in which way markets move in the next few sessions. Given the lack of scheduled events today and updates over the weekend, unless something else non-US related happens on the geopolitical front, today’s moves will come down to what we hear from the US on Russia and any other potential trade updates. It does feel like this could be a pivotal day and week in how markets react to Trump’s tariff threats. Investors have been calling his bluff over the last few months, with TACO (Trump Always Chickens Out) entering into market terminology. If we do see more ‘wiggle room’ given to trade partners through the announcement on Russia today or with updates on the weekend’s 30% tariffs on the EU and Mexico, then markets will take it as a green light to drive higher to fresh record levels. However, if the US cracks down and imposes tougher trade conditions, we could see a substantial market correction, which some investors have been fearing.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Quiet Calendar, but Not Quiet Markets Ahead Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">There is very little on the macroeconomic calendar today, but traders are expecting markets to remain cautious as we progress through the day’s trading sessions after a slew of tariff updates over the last couple of trading days and the weekend. Traders are expecting to see some moves in the Asian session after US tariff updates over the weekend, with the possibility of some gapping in FX from Friday’s closing levels. The European session, which has nothing of note scheduled today, may see some reduced liquidity with French markets on a bank holiday. Still, most traders are expected to keep their focus firmly on newswires, especially as we approach the New York open and the potential for tariff updates increases. The US session also has nothing major scheduled, but the update from President Trump on Russia (and possibly other trade partners) is set to be front of investor focus, and most believe that volatility could accelerate in the last session of the day.

Market Analysis - 14/07/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Hit Fresh Records – Dow up 0.4%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stocks pushed higher again in trading yesterday, albeit modestly, with the S&amp;P and Nasdaq again recording all-time high closes. The Dow led the way, closing up 0.43%, followed by the S&amp;P, which added 0.27%, and the Nasdaq, which edged just 0.09% higher but still hit a record level. US Treasury yields also moved up after US unemployment claims data dipped, the 2-year rising 3 basis points to 3.872% and the 10-year adding 1.8 basis points to move to 4.350%. The dollar was mixed across the majors, with the DXY edging up just 0.04% to 97.59. Oil prices saw significant fluctuations on the day as the market reacted to tariff threats from the US, with Brent dropping 1.91% to $68.85 and WTI losing 2.22% to $66.86 per barrel. Gold had another relatively quiet day, remaining in recent ranges but ultimately closing up 0.31% at $3,323.84 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Traders Wary of Tariff Impacts on Markets</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Traders are becoming increasingly wary of the lack of real impact on markets from President Trump’s tariff plans, and many feel that there could be some harsh corrections about to hit what have so far been very resilient markets. Stock markets rebounded strongly in April after the initial reciprocal tariff announcement on “Liberation Day,” and major indices are once again hitting all-time highs. However, there is a growing concern in the market that at some point, we will have to factor in the effect that tariffs will have on global trade and what it means for company valuations. Analysts will be looking closely at data in the coming weeks and months for any signs of slowing economies, and traders are expecting to see volatility spike if a significant repricing looks to be taking shape.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Geopolitics Remain in Focus into the Weekend</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Geopolitics will remain in focus for traders as we enter the last three trading sessions of the week and investors look ahead to a key US reporting season in the coming weeks. Tariff updates and threats from the US did little to halt overall sentiment yesterday, with mainly localized reactions, but traders remain wary of further fallout. There is little on the economic calendar in the Asian session today, and the market is expected to pick up from a positive day on Wall Street. The London session will see the early focus on UK markets with a big data drop scheduled shortly after the open; the GDP data (exp +0.1% m/m) will be the highlight, with moves expected on any significant deviation. The New York session will see the initial focus north of the border for Canadian employment data, with the Employment Change expected to show just a 0.9k increase, while the Unemployment Rate is expected to increase to 7.1%.

Market Analysis - 11/07/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Choppy Ahead of Tariff Deadline – Dow Jones Down 0.4%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stock markets traded in choppy conditions yesterday ahead of today’s (possible) tariff deadline, with President Trump advising that it may not be firm while also talking about putting a 50% levy on copper. The Dow closed down 0.37%, while the S&amp;P and Nasdaq closed close to flat, finishing the day down 0.07% and up 0.03%, respectively. Treasury yields were also muted, the 2-year dropping just 0.4 of a basis point to 3.891%, and the 10-year adding 2 basis points to move up to 4.399%. FX markets traded within recent ranges, the DXY down just 0.02% on the day to 97.49, although the Aussie noticeably jumped after the Reserve Bank of Australia held rates at 3.85% against market expectations for a cut. Oil prices pushed higher again to hit a 2-week high, with Brent up 0.53% to $69.95 and WTI up 0.28% to $68.12. Gold pulled back further on the back of potential tariff delays, losing 1.03% to move down to $3,301.27 by the New York close.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">RBA Surprises Markets by Holding Fire on Rates</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The Reserve Bank of Australia surprised markets by keeping interest rates on hold at 3.85% yesterday, prioritizing concerns about inflation over deteriorating economic data. The market had priced in a 95% chance that they would cut rates by 25 basis points, so the decision was a major shock to many, and the Aussie dollar rallied a swift 50 pips on the news. There is some hope for Australian households, as Governor Michele Bullock advised that this was more about timing rather than the direction of rate moves; however, yesterday’s call has certainly put markets on notice, which are now pricing in an 85% chance of a cut at the next meeting in August. Market concern now comes from the change of tone from the RBA, which had been resiliently hawkish over most of the year before turning dovish in May, and then delivering no cut at the July meeting. This uncertainty makes longer-term trades more difficult; however, it could be good news for shorter-term traders, as we could see more volatility in the Aussie, which has been relatively quiet for most of the year.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Tariffs and Central Banks in Focus Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It could be a very busy day ahead for financial markets, with tariff updates due out alongside some key central bank updates. The Asian session could be lively as it initially reacted to tariff news from the preceding US session before quickly shifting its focus to fundamentals. Chinese inflation data is due out early in the day, with the CPI (exp +0.2% y/y) and PPI (exp -3.2% y/y) set for release. The focus will then swiftly move south for the Reserve Bank of New Zealand’s latest rate call, with the central bank expected to halt its easing cycle by keeping rates steady at 3.25% following six consecutive cuts. The European session will see the Bank of England’s meeting minutes released, which could move UK markets. The New York session will have a heavy focus initially on tariff updates from the White House, and traders are expecting plenty of volatility on this; however, the focus will shift back to underlying fundamentals later in the day when the FOMC releases its latest meeting minutes.

Market Analysis - 09/07/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Mixed as Tax Bill Progresses - Dow Jones up 0.9%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stocks experienced a mixed day yesterday as President Trump’s tax bill just passed through the Senate and the first US jobs numbers of the week came in stronger than expected. The Dow Jones closed up 0.91%, whilst mega caps led tech stocks lower, the S&amp;P down 0.11% and the Nasdaq down 0.82%. The dollar drifted lower again, the DXY down 0.13% to 96.66, whilst Treasury yields popped after the data, the 2-year up 5.3 basis points to 3.772% and the 10-year up 1.4 basis points to 4.242%. Oil prices pushed higher again, Brent up 0.76% to $67.25 and WTI up 0.71% to $65.57 a barrel. Gold also added to its recent rise, up 1.08% to $3,338.08 an ounce by the NY close.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fed Rate Cut Expectations Still Fluid</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Most market commentaries at the moment will have a mention of Fed rate cut expectations in one form or another, and participants can expect that focus to increase as we move closer to the end of the month and the 30th July meeting conclusion and rate call. Overnight, we heard from Fed Chair Jerome Powell and, as always, he walked a fairly conservative line, advising that the FOMC would continue to monitor data in light of tariff implementation, whilst also not taking a July rate cut off the table. The current market pricing has a cut in July priced in at just a 20% chance; however, that jumps to 80% for the September meeting. These odds could change dramatically if we see some big moves in data, and probably the most influential number will come on Thursday with the latest Non-Farms number due out of the US. This will be followed by a final CPI release before the meeting, and if these numbers point in one direction or the other, expect those rate expectations to move, and markets with them.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Markets to Heat Up in Sessions Ahead</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Traders are expecting market volatility to take another step higher in the sessions ahead today as investors start to focus on key US jobs data that is squeezed into a shortened US trading week. Asian markets are looking to open on the front foot today despite a mixed day on Wall Street, and Australian markets will be the early focus with the Retail Sales numbers due out. The market is expecting a 0.3% increase, and anything stronger could take the Aussie dollar further north to hit more fresh annual highs. There is little on the cards in terms of data in the European session, although we will hear closing remarks from Sintra from ECB President Christine Lagarde. The New York session will bring those jobs numbers into sharp focus again with the ADP Non-Farm Employment Change data due out. Market expectations are for 99k new jobs to have been created in June, and traders will be reacting strongly to any deviation from that print, with the data still considered a strong front-runner for tomorrow’s key Non-Farms Payroll number. US crude oil inventory data (exp. -3.5mio barrels) is also due out later in the day, and traders are expecting moves in the major contracts and petro-related products on the back of the release.

Market Analysis - 02/07/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Reach Higher Again - Nasdaq up 1%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stock markets pushed higher again in trading yesterday as investors focused on potential rate cuts from the Fed and positive news on trade deals. Updates that China and the US have agreed on a trade framework and that India and the US are close to an agreement helped to spur risk trades, and the US indices all pushed higher, the Dow up 0.94%, the Nasdaq up 0.97%, and the S&amp;P adding 0.80% to close just shy of a record level. Treasury yields fell off, the 2-year down 6.7 basis points to 3.713%, and the 10-year 5.3 basis points lower to 4.238%. The dollar also continued to fall to fresh lows, the DXY down 0.25% to 97.30, while oil prices edged higher again, Brent up 0.13% to $67.77 and WTI up 0.52% to $65.26. Gold remained in its recent range, closing the day down just 0.11% at $3,328.06 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fed Rate Cuts in Focus for Markets</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fundamentals are pushing their way back into investor focus as geopolitical concerns have retreated in the last few sessions, but for how long remains to be seen. As always, the Fed is top of the tree for investors, and we have seen some good moves in rate cut expectations over the last few days. Michelle Bowman started the ball rolling by advising that a July cut was possible in her mind; however, most have largely discounted this, especially since she is a Trump appointee. Nevertheless, pricing is now up to a 20% chance of a move at the next meeting. US data has been moving in the right direction for a cut; however, tariff concerns remain strong for most Fed members, including, crucially, Jerome Powell. The big move in expectations comes for the September meeting, with a 25-basis-point cut now being priced in as a 75% chance, compared to a 56% chance a week ago and a 47% chance a month ago. Traders will be keeping a very close eye on these expectations, with today’s PCE number and tariff updates likely to add more volatility in the coming days and weeks.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Inflation Data in Focus for Traders Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Traders will again look to focus on fundamentals in the sessions ahead, with some key inflation data due out across the trading sessions. The geopolitical storm seems to have died down in the last couple of days, but traders will remain wary after the volatility of recent weeks. The Asian session will initially focus on Japanese markets, with the Tokyo Core CPI data due out. Expectations for a ‘sticky’ 3.3% year-on-year rise are already priced in. European markets will focus on the Spanish Flash CPI data (exp. 2.0% y/y), but the main focus of the day will be the Fed’s favourite inflation indicator, due out soon after the New York open. The Core PCE Price Index number is expected to show just a 0.1% month-on-month increase, and if it prints in line with those expectations, the Fed rate cut probability should tick up further. The Canadian GDP data (exp. 0.0% m/m) is due out at the same time, and we have revised University of Michigan numbers later in the day, but expect the US inflation number to dominate sentiment.

Market Analysis - 27/06/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Markets Higher as Fed Cut Hopes Increase - S&amp;P up 1%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stocks drove higher in trading yesterday on the back of a combination of increased Fed rate cut hopes and a failed strike from Iran in the Middle East on US bases. Fed Vice-Chair Michelle Bowman advised that we could see a cut as early as July, and US indices reacted strongly: the Dow up 0.89%, the S&amp;P up 0.96%, and the Nasdaq up 0.94%. Both Treasury yields and the dollar dropped， the 2-year yields down 4.4 basis points to 3.863%, the 10-year yield off 2.8 basis points to 4.348%， while the DXY ultimately fell 0.72% to 98.38, having initially spiked earlier in the day. Oil prices were smashed after news hit the market that Iran attempted (and failed) to hit US bases in Qatar, and then President Trump advised that Iran and Israel had agreed to a tentative ceasefire. Brent was down 8.86% to $70.22, and WTI was down 8.88% to $67.30. Gold traded in a wider range but ultimately closed up just 0.06% at $3,68.46 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Oil to Remain Volatile in the Days Ahead</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Oil prices were smashed in trading yesterday after Iran took no action to disrupt oil and gas traffic in the Strait of Hormuz and instead attacked a US military base in Qatar. Strange times in markets when an attack on a US military base from another nation is seen as a positive, but at the moment, we have to trade what we see. Oil prices had spiked earlier in the day after US strikes over the weekend, but a long market was completely turned later in the day as the retaliatory strike was considered a positive, and then talk of a ceasefire hit the newswires. WTI reached a peak at $78.40 and is now trading below $66, representing a significant range in just 24 hours. As a result, traders expect to see further movement in the coming hours and days. However, most do not expect any kind of trend to be set until we get a bit of clarity on the situation in the Middle East, and as the last couple of days have proven, that may take some time.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Another Busy Day Ahead for Traders</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Traders are bracing for another busy day ahead today as geopolitical updates continue to rock markets, and they look ahead at some key data releases and central bank updates. The Asian session appears poised to start on a strong note today, following a robust session on Wall Street. Although there are few events on the calendar, traders expect to see substantial moves in the session. The European session will see a strong focus on UK markets today, with Bank of England Governor Andrew Bailey due to speak in front of the House of Lords, although euro traders will also be paying close attention to the German Ifo Business Climate data release. The New York session looks busy today, even before we look for any fresh updates from President Trump. The initial focus will be north of the border for Canadian CPI numbers (exp. +0.5% m/m), before moving down to Washington for Fed Chair Jerome Powell’s testimony on the Monetary Policy Report in front of the House Financial Services Committee. We also have Consumer Confidence data and the Richmond Manufacturing Index numbers out of the US today, but expect comments from the Fed Chair to dominate, along with any fresh geopolitical updates. Index numbers out of the US today, but expect comments from the Fed Chair to dominate, along with any fresh geopolitical updates.

Market Analysis - 24/06/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stocks Fall as Conflict Drags on</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Global stocks fell in trading yesterday as the Middle East conflict continued with little sign that a ceasefire is imminent. US markets were closed yesterday but are expected to open on the back foot today as President Trump advised that he will make a call on whether to strike at Iran within two weeks. Forex markets were open as usual, and the dollar remained bid in recent ranges, the DXY up 0.1% to 98.85, and moves were relatively limited in both the pound and the franc after the Bank of England kept rates on hold and the Swiss National Bank cut by 25 basis points as expected. Oil prices leapt again, with Brent hitting its highest close since January 22, Brent closing up 2.80% at $78.85, and WTI finishing up 0.88% at $75.80. Gold experienced a dip earlier in the day but ultimately closed close to flat, up just 0.04% at $3,370.23.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Central Banks Stuck Between a Rock and a Hard Place</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">We have seen some major central banks make rate calls this week, and the resounding theme seems to be concern on the geopolitical front, leaving them in an uncomfortable spot. In general, central banks like to make moves on solid data, and US tariffs and now the conflict in the Middle East have thrown a few spanners in the works as the uncertainty of where markets and economies will be in a few months weighs on decision makers. The Federal Reserve, the Bank of England, and the Bank of Japan all kept rates on hold this week, citing uncertainty in the coming months, whilst the Swiss National Bank and the Norwegian Central Bank cut rates. The issue for FX traders is that while central banks are indicating uncertainty, the usual interest rate differentials that longer-term trend traders look for are not easy to predict, and that will likely lead to more volatility, not less, in the coming months.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Busy Trading Day to End the Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Traders are anticipating a busy trading day to close out the week today, with a good mix of data due out as well as major geopolitical updates expected out of the Middle East and the US. The Asian session will have a strong focus on Chinese markets early in the day, with the PBOC due to update the market on its latest Loan Prime Rates, with the 1-year and 5-year expected to remain at 3.00% and 3.50% respectively. Later in the day, we are due to hear from Bank of Japan Governor Kazuo Ueda when he speaks in Tokyo, and yen traders are expecting volatility in the currency. The early focus in Europe will be on UK markets, with the Retail Sales data due out (exp -0.5% m/m), before attention jumps across the Atlantic for the return of US traders and the Canadian Retail Sales numbers (exp +0.4% m/m) and Core Retail Sales numbers (exp -0.2% m/m). However, most market participants are still expecting updates from the Middle East and on trade to have a bigger impact on sentiment in the last sessions of the day.

Market Analysis - 20/06/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Volatility Returns to Markets – Nasdaq Drops 0.5%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Volatility returned to financial markets in trading yesterday as multiple geopolitical updates and data releases prompted market movements. Upbeat news on the US–China trade talks, a lower-than-expected US CPI print, and increased Middle East tensions all hit markets hard yesterday. US stocks fell on the day but weren’t hit too hard, as the data pulled rate cut expectations in. The Dow closed flat, the S&amp;P dropped 0.27%, and the Nasdaq fell 0.50%. The dollar and US Treasury yields both fell, the DXY down 0.32% to 98.65, while the 2-year yield fell 6.7 basis points to 3.952% and the 10-year dropped 5.0 basis points to 4.420%. Oil prices surged on news that the US may be evacuating its embassy in Iraq, Brent up 4.55% to $69.91 and WTI up 5.08% to $68.28. Gold also moved higher on the haven trade, up 1.20% to $3,354.40.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Oil Surging Higher on Middle East Tensions</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Oil prices flew higher in trading yesterday as the US advised that it was moving personnel out of the Middle East after Iran threatened to strike US bases in the region if nuclear talks broke down. Brent jumped over 4% and WTI over 5%, and any further updates of escalation in the situation should see supply concerns increase and prices move even further north. Traders are also looking closely at trade talks, and any positive news on that front could put added pressure on moves higher from the demand side. WTI is now trading close to the 200-day moving average, and a strong break here from a technical perspective should take it towards the long-term resistance currently around $73.65. Support now sits at the previous resistance level near $65.00.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Geopolitics in Focus Again for Markets Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Geopolitics looks set to dominate market flows in the sessions ahead today; however, crucial data out of the UK and another key inflation update from the US will also see markets move on fundamentals. Updates on both trade talks and the potential for more unrest in the Middle East have seen markets jump into action overnight, and traders are preparing for more volatility today. The Asian session has little on the data calendar, and indeed, most geopolitical updates are not expected in the first session of the day, so markets may take a bit of a breather early on. However, once European markets open, we should see things pick up again. The initial focus will be on UK markets with the release of the latest GDP data (exp -0.1% m/m); however, it will soon shift to any trade updates or news from the Middle East. The New York open sees the release of the PPI data (exp +0.2% m/m) and the Core PPI data (exp +0.3% m/m), with another weaker print likely to push the dollar lower. The Weekly Unemployment Claims data is also due out; however, overall, expect geopolitical updates to dominate moves.

Market Analysis - 12/06/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Quiet Start to the Trading Week - Nasdaq up 0.3%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It was a relatively quiet start to the trading week yesterday, as market holidays, a quiet event calendar, and few geopolitical updates combined to keep markets largely rangebound. The three major US stock indices all closed close to flat: the Dow down just 0.01%, the S&amp;P up 0.09%, and the Nasdaq rising 0.31%. The dollar eased lower throughout the day, with the DXY down 0.18% to 99.02, and Treasury yields softened, the 2-year yield down 3.3 basis points to 4.004% and the 10-year yield down 3.2 basis points to 4.474%. Oil prices pushed higher again to hit multi-week highs as US–China trade talks continued, with Brent up 0.95% to $67.09 and WTI up 1.24% to $65.38. Gold also finished higher after an initial dip, closing up 0.44% at $3,324.92 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Inflation Data in Focus This Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Key US inflation data is due out this week, and analysts will be paying close attention to the prints with regard to any pending rate cuts from the Federal Reserve Bank. Friday’s job numbers came in slightly higher than expected, and so Fed doves will be hoping for weaker inflation data this week to push up rate cut expectations. CPI data will take center stage on Wednesday, with the headline month-on-month number expected to show a 0.2% increase, the core data a 0.3% increase, and the year-on-year rising to 2.5%. PPI numbers are due out on Thursday, with expectations in line with CPI numbers, PPI at +0.2% and the core at +0.3%. There is no expectation of a cut at this month’s meeting, with a ‘hold’ now 99.9% priced in and only a 14% chance of a cut priced in for July, but September is now looking a stronger bet with a 54% expectation of a rate cut then. However, most analysts agree that we will need to see a softening of the data sooner rather than later if we are to see more action from the Fed in the next quarter.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trade Talks and UK Data in Focus Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Continuing trade talks between the United States and China will remain a focus for traders in the latter sessions of the day, with the potential for large moves likely on any updates. The Asian session has little in the way of tier-one events scheduled; however, investor focus will turn to UK markets early in the European session, with key employment data due out. The headline Claimant Count number is expected to show a 9,500 increase in claims, with the Unemployment Rate increasing to 4.6%. Any deviation from this forecast will likely result in strong movements for the pound. The trade talks between the US and China are taking place in London, so traders will be glued to news screens throughout the European and US day. The New York session has little in the way of data releases, but we are scheduled to hear from President Trump at the end of the day, which could add volatility to markets.

Market Analysis - 10/06/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Quiet Trading Day with US Markets Closed</h3><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Traders enjoyed a quiet trading day to kick off the week yesterday, as most investors used the bank holidays in both the UK and the US as an excuse to keep their powder dry. Most markets experienced relatively calm trading days in familiar ranges, despite an early update out of the US that they would now not look to impose additional tariffs on the EU until July 1. This news did give European bourses a lift, with the CAC up 1.21% and the DAX up 1.68%. However, we will have to wait until later today for the reaction in US indices. FX markets were open but kept to tight ranges, with the DXY easing 0.1% lower on the day to close at 98.99. Oil traded in muted ranges, Brent contracts down just 0.04% to $64.74 and WTI off 0.28% to $61.53, whilst Gold drifted off resistance levels to close down 0.30% at $3,342.79 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Euro in Focus for FX Traders Today</h3><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Despite trading in a relatively quiet range yesterday, FX traders are expecting to see further moves in the Euro today after two positive updates over the last 24 hours. Donald Trump’s reprieve of another month on additional tariffs on the EU gave the single currency a shot in the arm early in trading yesterday, and comments from European Central Bank President Christine Lagarde in Berlin yesterday that the Euro could become the world’s reserve currency were also seen as supportive. The Euro is still trading nearly 200 pips below this year’s high, but a further push higher in the next few sessions could see it challenge those levels and break higher, with the key 1.2000 psychological level the next target. However, if we do see some dollar strength or the potential for those tariffs to be put in place by the US, then the EURUSD could pull back into recent ranges, with initial support now on the May low and hourly trendline at 1.1060.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Markets to Pick Up Pace Today</h3><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Traders are expecting markets to pick up pace today after a lacklustre few sessions yesterday, influenced by bank holidays in the Northern Hemisphere. The Asian session will see a strong focus on Japanese markets, with Bank of Japan Governor Kazuo Ueda scheduled to speak early in the day, with the Yen in particular focus given recent trade talks with the US and consequent volatility. There is little scheduled in the European session today, but investors are expecting to see a sharp increase in volatility as both the UK and US return to the fray. The New York session looks to have the propensity for moves across markets, with the first US data of the week due out early in the day. Durable Goods numbers (exp -7.6% m/m) and Core Durable Goods (exp -0.1% m/m) are out first, followed by the CB Consumer Confidence data (exp 87.1). We are also due to hear from some key central bankers during the session, including the Swiss National Bank’s Chairman Martin Schlegel and the Buba President Joachim Nagel.<div><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

Market Analysis - 27/05/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Markets Hit on Debt Fears - Dow Jones Down 1.9%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US markets took hits across the board in trading yesterday as fears of more debt for the economy if President Trump’s tax-cut bill is passed continued to influence investors. All three of the major indices took substantial hits, the Dow leading the way, losing 1.91% on the day, with the S&amp;P and Nasdaq following in its wake, down 1.61% and 1.41%, respectively. The dollar also dropped, the DXY down 0.39% to 99.60, while Treasury yields again jumped higher, the 2-year up 4.9 basis points to 4.020%, and the 10-year up 11.2 basis points to 4.599%, pushing through the high in April. Oil prices dipped on news of fresh talks between the US and Iran, with both Brent and WTI contracts down 1.13% to $64.64 and $61.33, respectively, while gold pushed higher again, up 0.76% to $3,313.94 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Gold Pushes to 1-Week High</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Gold pushed higher in trading yesterday to hit a 1-week high as investor concern increased on US debt, pushing the dollar lower against most products. Markets are looking for the next catalyst to propel products one way or the other, and as time pushes on, uncertainty increases, and safe-haven products like gold are becoming more and more attractive. Increased geopolitical issues in the last couple of days, including talk of Israeli strikes on Iran, have also seen flows pour into the world’s favourite precious metal, and traders are now looking to see if we will hit another all-time high again in the next few weeks. Gold is sitting 5% under the record high, and if it can break through trendline resistance around $3,375.00, then we could see a push for fresh highs yet again. Any pullback on US debt issues or news of trade deals would see haven flows exit and pull gold back into recent ranges.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">PMI Data in Focus for Traders Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">There is a raft of Flash Services and Manufacturing PMI numbers out today across all three trading sessions, which investors will be keen to see in light of recent trade updates. PMI data is due in Australia, France, Germany, the EU, the UK, and the US, and traders expect to see moves across markets on their release. The Asian session will also see a focus on Kiwi markets, with the Annual Budget due for release midway through the day, while the European session will see the focus on the PMI data as the numbers are released within the space of a couple of hours at the start of the day. The New York session will see the Weekly Unemployment Claims data released alongside the PMI numbers, with Existing Home Sales updates also due out. There will be a focus later in the day on Canadian markets, with Bank of Canada Governor Tiff Macklem speaking towards the end of the session at the G7 meetings.

Market Analysis - 22/05/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Markets Mixed After Weak Data – Dow Jones up 0.65%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stock markets were remixed in trading yesterday after the PPI data release was much weaker than expected. The Dow Jones and the S&amp;P closed higher, recording 0.65% and 0.41% rises respectively, while the Nasdaq lost ground, closing 0.18% down. US Treasury yields reacted strongly to the weaker prints, with the 2-year dropping 9.2 basis points to 3.961% and the 10-year falling 7.8 basis points to 4.449%. The dollar edged lower against most of the major currencies, the DXY ending the day down 0.15% at 100.81. Oil prices took a hit after news of a US-Iran nuclear deal hit the wires, which could see sanctions eased, with Brent off 2.36% to $64.53 and WTI down 2.42% to $61.62 a barrel. Gold ultimately pushed higher in line with the weaker dollar, rising 2.01% to $3,240.87 by the close of the New York session.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Dollar Resilient After Poor Data</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The dollar remained relatively strong in trading overnight after poor PPI results out of the US hit the market. The data came in well below expectations, with the headline PPI number at -0.5% vs expected +0.3%, and the Core PPI at -0.4% vs expected +0.3%. Even though Retail Sales data, released at the same time, came in slightly higher, we would normally expect a stronger reaction for the dollar on those kinds of misses. There was an initial downside reaction in most of the major pairs, but except USDJPY, which finished the day down 0.89%, there wasn’t too much weakening in the dollar. Fed rate cut expectations have not changed much either, which could be one reason for the lack of depreciation in the greenback. Traders will be watching US data closely in the coming weeks, and further signs of weakening in the US economy will probably see bigger downside moves for the dollar.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Quieter Calendar Day to Close Out the Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Investors are expecting smoother trading conditions today to close out the week, with a relatively quiet macroeconomic calendar not likely to produce too many surprises. The Asian session will have a focus on Kiwi markets midway through the day, though, as Inflation Expectations data is due out. The market is expecting to see the quarterly number come in around the 2.06% mark again. There is no major data set to be released in the London session today; however, we do hear from the Swiss National Bank Chairman, Martin Schlegel, when he speaks in Lucerne, so we may see some added volatility in the Franc. The US session has the US Preliminary University of Michigan Consumer Sentiment (exp. 53.1) and Inflation Expectations (last 6.5%) numbers out before the calendar week is closed out with an update from the Fed’s Mary Daly.

Market Analysis - 16/05/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Markets Consolidate Ahead of Fresh Data – Nasdaq up 0.7%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US markets consolidated in trading yesterday as investors digested all the recent trade updates and looked ahead to more data today. US stock indices were mixed, Dow Jones closing down 0.21% on the day, while S&amp;P 500 and Nasdaq recorded gains of 0.10% and 0.72%, respectively. US Treasury yields pushed higher to multi-month highs, the 2-year up 4.2 basis points to 4.059%, and the 10-year up 4.5 basis points to 4.556%. The dollar edged higher against the majors, and the DXY went up 0.05% to 101.05. Oil prices fell after recent big gains, Brent off 0.81% to $66.09, and WTI down 0.82% to $63.15 a barrel. Gold prices also resumed their recent decline, closing 2.15% at $3,177.55 on the day.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Data Drop to Hit Fed Expectations Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">There is a plethora of US data releases due to hit the market today, all at the same time, and traders will be hoping for some consistency from the results that will help to lock in Fed rate cut expectations and give some direction for the dollar. Fed rate cut expectations have dropped considerably over the last month for any move at the next meeting in June, with only a 10% chance now being priced in, despite a slightly weaker CPI print earlier in the week. If today’s data aligns to show that the US economy is alive and well, then expect that number to decrease further and the dollar to gain more ground. Any significantly weaker prints could start to change the market’s mind and see losses for the greenback as rate cut calls increase.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Data in Focus Today Across All Sessions</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Investor focus will switch back to economic data today, with some key updates due across all three of the major trading sessions, and a big US data dump coming towards the end of the day. The focus in the Asian session will be on Australian markets again, with key employment data due out. The headline employment change number is expected to show a 21k gain in April, with the Unemployment Rate remaining steady at 4.1%. The European session will see UK markets in focus again as well, with the latest GDP number (exp 0.0% m/m, 0.6% q/q) the highlight of several data releases. We then have a big US data drop early in the New York day, with the latest PPI (exp 0.3% m/m), Retail Sales (exp 0.0% m/m), and Weekly Unemployment Claims (exp 229k) numbers all out alongside the Philly Fed (exp -9.9) and Empire State Manufacturing Index (exp -7.9) updates. Then, there will only be a 10-minute gap for traders to digest before we hear from Fed Chair Jerome Powell, which could have an even bigger influence on the market.

Market Analysis - 15/05/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stocks Surge on US–China Trade Deal – Nasdaq Up 4.35%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Global markets surged in trading yesterday as China and the US agreed to pause tariffs for 90 days and drop reciprocal taxes by 115%. The three major US indices all surged higher to record their best days in over a month. The Dow rose 2.81%, the S&amp;P 3.26%, while the Nasdaq leapt 4.35% on the day. The dollar drove higher against all the majors, the DXY gaining 1.09% to close at 101.79, whilst treasury yields also spiked—the 2-year notably closing above 4% at 4.011% after adding 12 basis points, and the 10-year gaining 9.2 basis points to move up to 4.471%. Oil prices also jumped as demand hopes increased, Brent up 1.63% to $64.95 and WTI up 1.52% to $61.95. Gold prices slumped as haven flows pulled out, dropping 2.74% on the day to close out at $3,233.75 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Tariff Relief, But Caution Remains</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Global markets surged higher yesterday, and US assets in particular got a big shot in the arm from news that tariffs would be paused for 90 days and reduced considerably. However, investors, traders, and businesses alike remain cautious in the current environment, where we have seen sharp turnarounds, particularly from the US side of negotiations in recent weeks. Markets will now look to try and price in yesterday’s updates in the sessions and days ahead to see just how much of a retracement of recent moves is warranted. That could come with further trade updates, as well as looking at the underlying fundamentals. So once again, expect geopolitical updates to continue to dominate short-term sentiment; however, we could see some strong moves if fundamental data starts to shift, and tonight’s US CPI numbers could be the start.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Economic Calendar Picks Up Today with US Inflation Numbers in Focus</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Geopolitical updates most certainly dominated market flow yesterday, and the impact of the US–China trade update looks likely to influence moves in the Asian session today, with little on the macroeconomic event calendar to distract traders. However, as we move through the trading day, the focus will switch, however short-term, to fundamental numbers, with some key data due out in the latter two sessions. The European session will focus on the UK market, with employment data due out. Claimant Count data is expected to come in around the +22K mark, with average earnings at 5.2% and the unemployment rate pushing up to 4.5%. Any significant deviations are likely to see strong moves in the pound. The data highlight of the week is set to come out shortly after the New York open, with the key CPI numbers scheduled. The headline month-on-month and Core month-on-month numbers are both expected to show a 0.3% increase, with the year-on-year number remaining steady at 2.4%. Later in the day, the focus will swing back to the UK, with Bank of England Governor Andrew Bailey speaking in Amsterdam.

Market Analysis - 13/05/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Markets Dip Ahead of Fed - Dow Jones Down 1%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stock markets dropped in trading yesterday ahead of the key Fed rate decision as investors digested more comments from President Trump on tariffs. The President advised that the US would be putting fair numbers down on tariffs, raising concerns that there would be less discussion with trade partners. All three of the major indices fell: the Dow dropped 0.95%, the S&amp;P lost 0.77%, and the Nasdaq closed 0.87% down. Treasury yields dipped, the 2-year down 5 basis points to 3.783%, and the 10-year dropped 4.9 basis points to 4.294%. The dollar also lost ground against most of the majors, the DXY down 0.15% to 99.24. Oil prices jumped off multi-year lows on news of greater demand from Europe and China, Brent up 2.94% to $62.00, and WTI rose 3.43% to $59.09 a barrel. Gold drove higher again to threaten all-time highs ahead of the Fed, rising 2.34% to $3,430.02 an ounce.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fed in Focus Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The Federal Reserve Bank will make its latest interest rate decision today, with the market fully expecting it to keep rates on hold despite demands from the Oval Office to cut them. The market is currently pricing in a 98% chance of rates remaining on hold, but we are likely to see volatility around the accompanying statement and the later press conference on when the next cut will come. The next meeting in June will likely be ‘live,’ with a chance of a cut coming then, currently priced in at around a 30% chance, with odds increasing to 60% for a July move. The message that we receive from Jerome Powell will be key later today, with any more dovish indications likely to see further pressure on the dollar, which is still sitting close to sensitive technical levels on most of the majors. If he remains relatively hawkish and stays with a ‘wait and see,’ data-watching approach, then we could see the dollar rally back into recent ranges.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Busy Day Ahead for Traders</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Financial markets traders are preparing for another busy day ahead, with geopolitical updates still a major influence on markets ahead of the biggest fundamental update of them all - the Federal Reserve rate call. We have already seen key data in New Zealand early in the Asian session, with the unemployment rate dropping from 5.3% to 5.1%, helping to push the Kiwi back towards annual highs. There will be a focus on UK markets early in the European session with Construction PMI data (exp. 46.0) due out, but the big market moves should come in the US session. The Federal Reserve Bank is due to make its latest rate call later in the day, along with its statement and the usual later press conference. However, some traders feel that comments from the Oval Office, both concerning the Fed and/or other trade comments, could have a bigger impact on the market.

Market Analysis - 07/05/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Markets Rally After Strong Jobs Numbers - S&amp;P up 1.5%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stocks rallied well on Friday after non-farm payrolls data came in stronger than expected, easing growth concerns. The Dow added 1.39% on the day, the S&amp;P 1.47%, and the Nasdaq finished up 1.51%. Treasury yields surged as traders pushed back Fed rate cut expectations to July, with the 2-year up 12.5 basis points to 3.824% and the 10-year up 9.1 basis points to 4.308%, whilst the dollar drifted, the DXY down 0.15% to 100.03. Oil prices fell to close out a tough week, down nearly 8%. Brent dropped 1.35% on the day to close at $61.29, and WTI fell 1.60% to $58.29. Gold traded in relatively tight ranges, ultimately finishing the day up just 0.06% at $3,240.08.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Jobs Numbers Push Fed Cuts Out</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Friday’s strong employment data out of the US has pushed Federal Reserve rate cut expectations out further, as they confirmed that despite growth concerns due to tariffs, US employers are still adding to staffing numbers. It is only a couple of days until the conclusion of the next Fed meeting, and those (including certain high-profile people in office) will be disappointed that we are very unlikely to see any move this month, currently just a 3% chance of a cut. However, there is still the possibility that we see something in June, with a 35% chance of a cut currently priced in, whilst July looks most likely for the next move, with those odds up to 55%. There is still a lot of water to come under the bridge before those meetings, and investors will now be looking at the message we get from Jerome Powell on Wednesday concerning the FOMC’s thoughts, which could push markets hard one way or the other.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Holiday-Thinned Markets to Kick Off the Trading Week</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Liquidity could once again be a bit of an issue on the first trading day of the week today, with some key financial centers having long weekends. The Asian session sees Japanese markets closed for both today and tomorrow, which will take a percentage of liquidity from the market, especially in the yen, which has been volatile in the last few days. And whilst there is no data scheduled for release, traders are expecting to see good moves after Friday’s data in the US. The London session will see the focus on Swiss markets, with key CPI data (exp. +0.2% m/m) due for release early in the session. However, liquidity will again be under question with UK markets closed for a bank holiday. The New York session has key US ISM Services PMI data out (exp. 50.2), with investors hoping for a good number to back up Friday’s jobs update.

Market Analysis – 05/05/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Wall Street Pushes Higher Again – Nasdaq Up 1.5%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stocks pushed higher again in trading yesterday as both Meta and Microsoft reported strong earnings. The S&amp;P and Dow clocked up their eighth straight day of gains, rising 0.63% and 0.21% respectively, whilst tech stocks helped the Nasdaq finish up 1.52% on the day. The dollar pushed higher again against the majors, with the yen a notable loser, the DXY up 0.59% to 100.20. Treasury yields pushed back from recent lower levels, the 2-year up 9.6 basis points to 3.698% and the 10-year up 5.5 basis points to 4.217%. Oil also gained back some ground on news of more sanctions on Iran from the US, Brent up 1.34% to $61.88 and WTI up 1.77% to $59.21. Gold continued to drop lower, losing 1.44% on the day to close at $3,240.29.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Non-Farm Payrolls to Move Markets Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Non-Farm Payroll data is due out today, and investors will be paying even closer attention to the number this month as it comes after weeks of tariff updates, and they are keen to see if the local market is reacting. Market expectation is for the headline number to show an increase of 138k jobs in the last month, with both the Average Hourly Earnings numbers and Unemployment Rate remaining stable at 0.3% m/m and 4.2% respectively. Any significant deviation from any of these key numbers will see a strong market reaction across markets. Wall Street has had a good run recently after being hit earlier in the month, but a significant weakening in the US jobs market could undo all of the recent work, whereas a strong print would indicate a resilient economy and could give the green light for further gains.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Jobs Numbers in Focus for Markets Today</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">There is no doubt that the US jobs numbers will be the major focus for investors in today’s trading. However, there are another couple of data events scheduled, as well as the usual trade updates likely to hit the newswires. Asian markets will again be without Chinese liquidity today, but the initial focus will be on Australia, with Retail Sales numbers due out early in the session (exp 0.4% m/m). The London session will once again have a focus on European inflation data, with the EU Flash CPI Estimate (exp 2.1%) and Core CPI Estimate (exp 2.5%) due out before focus moves to the US and the big Non-Farms data. Australian markets will also be aware that Parliamentary Elections take place over the weekend, and any big surprises could lead to some gapping on the Monday open.

Market Analysis – 02/05/25

<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Flat but Rally After the Bell – Dow up 0.35%</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stocks recovered in trading yesterday to close near flat, but futures rallied after the bell on good earnings reports from both Meta and Microsoft. The Dow closed the session up 0.35%, the S&amp;P up 0.15%, and the Nasdaq dipped just 0.09%. The dollar gained back some of its lost ground again, the DXY up 0.49% to 99.63, whilst Treasury yields slipped again, the 2-year down 4.7 basis points to 3.603% and the 10-year down 1 basis point to 4.163%. Oil prices were smashed again to lock in the worst month for over three years, Brent down 3.37% to $61.15 and WTI down 3.66% to $58.72 a barrel. Gold also slipped again, losing 0.85% on the day to close at $3,287.72.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Investors Hoping We May Have a Smoother Month Ahead</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Some investors will be happy to see the end of what has been one of the most volatile months the market has seen for years. The major focus for markets over the course of the last four weeks has been US tariffs and President Trump’s back-flipping of proposed tariff levels and implementation plans that has left even the most experienced traders in a state of confusion. Traders are now hoping that the peak of tariff confusion is behind us and the next few weeks will bring more clarity to the market and allow for more informed investment decisions to be made. If we do start to get some trade deals completed in the near term, then expect optimism to creep back in, but if uncertainty and delays continue, we could see further downside across all products.<h3 dir="ltr" style="line-height:1.38;text-align: justify;margin-top:14pt;margin-bottom:4pt;"><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Choppy Calendar Day Ahead for Traders</h3><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It could be a choppy day ahead for global markets today with several major financial centers closed for holidays and some major macroeconomic events scheduled. The Asian session has Chinese markets closed today, but the major focus will be on Japan, with the Bank of Japan due to deliver its latest rate call during the day. There is little on the calendar in the London session, with Germany, France, Italy, and Switzerland markets all closed for May Day holidays, which will see liquidity diminished and any moves exacerbated. The New York session sees more key data releases today, with the Weekly Unemployment Claims (exp. 224k) and the ISM Manufacturing PMI data (exp. 48.0) the highlights.

Market Analysis – 01/05/25

<span style="font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US Stocks Rally into Weekend – Nasdaq up 1.25%<span style="font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stock markets closed out last week on a positive footing as they rose again in trading on Friday, with optimism increasing again that trade deals will occur. The Dow edged just 0.05% higher by the close, but tech stocks helped to pull the S&amp;P up 0.74%, and the Nasdaq up 1.26%, to better levels. The dollar also edged higher against the majors, with the havens again hit the hardest, the DXY up 0.06% to 99.47. Treasury yields took a dip, the 2-year dropping 4.9 basis points to 3.748% and the 10-year off 8 basis points to close out at 4.235%. Oil prices pushed higher on Friday in quieter trading conditions, Brent up 0.48% to $66.87 and WTI up 0.37% to $63.02, whilst gold dropped on trade hopes, down 0.85% on the day to close out the week at $3,318.22 an ounce.<span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap; font-size: 18px;">Magnificent 7 in Focus this Week<span style="font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap; font-size: 18px;"> <span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">US stocks have experienced a strong rebound after suffering early in the month to recover nearly all of their losses on the indices; however, these moves will likely be put to the test in the coming days with some key members of the ‘Magnificent Seven’ due to report earnings. Microsoft, Meta, Amazon, and Apple are all due to update the market this week, and a consistent trend from these major players could see strong moves in the market. Last week’s results were generally mixed, and if that pattern continues, expect indices to remain bid on growth hopes; however, if we see a strong bias, either higher or lower, then this could set a new trend for the coming weeks.<span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap; font-size: 18px;">Quiet Calendar Day to Kick off a Busy Week<span style="font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap; font-size: 18px;"> <span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">It should be another interesting week ahead for global financial markets, with many investors hoping that we see the focus moving away from pure trade talk and back over to fundamentals. Investors will likely use today’s trading sessions to assess the plethora of recent updates we have had to plan longer-term positions. There is little on the schedule for the first two trading sessions of the day, and it is a similar story in the US session, although Canadian Federal Elections will keep those north of the border on their toes if voting doesn’t go as planned. This does change as we progress through the week, with big US jobs, inflation numbers, and earnings reports due, as well as the Bank of Japan rate call, which could lift volatility again.<div><span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

Market Analysis – 28/04/25

<span style="font-size: 13.5pt; font-family: &quot;Microsoft Yahei&quot;; color: rgb(51, 51, 51); font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Tariff Tensions Complicate BOJ Outlook, Powell Defends Fed&#39;s Independence<span style="font-size: 13.5pt; font-family: &quot;Microsoft Yahei&quot;; color: rgb(51, 51, 51); font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 13.5pt; font-family: &quot;Microsoft Yahei&quot;; color: rgb(51, 51, 51); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Core inflation in Japan accelerated in March due to rising food costs, complicating the Bank of Japan’s efforts to balance rising prices against increasing economic risks triggered by US tariff hikes. The BOJ is expected to hold rates at 0.5% at its upcoming meeting next week while revising down its growth outlook.<span style="font-size: 13.5pt; font-family: &quot;Microsoft Yahei&quot;; color: rgb(51, 51, 51); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 13.5pt; font-family: &quot;Microsoft Yahei&quot;; color: rgb(51, 51, 51); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Meanwhile, President Trump has again lashed out at the Federal Reserve, urging rate cuts and publicly criticizing Fed Chair Jerome Powell on social media. “His removal can’t come soon enough,” Trump posted, though a senior White House official clarified there are no current plans to dismiss Powell.<span style="font-size: 13.5pt; font-family: &quot;Microsoft Yahei&quot;; color: rgb(51, 51, 51); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Powell responded firmly, stating that the President has no authority to fire him and warning that increased tariffs could push the US further off target on inflation and growth.<span style="font-size: 13.5pt; font-family: &quot;Microsoft Yahei&quot;; color: rgb(51, 51, 51); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Senator Elizabeth Warren issued a strong warning: “If Powell is fired, the U.S. markets will crash.” She emphasized the importance of political independence in central banking, calling it the backbone of economic stability.<span style="font-size: 13.5pt; font-family: &quot;Microsoft Yahei&quot;; color: rgb(51, 51, 51); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">As inflation surges and policy tensions rise, global markets remain on edge, with investors closely monitoring central bank decisions and trade dynamics.<span style="font-size: 13.5pt; font-family: &quot;Microsoft Yahei&quot;; color: rgb(51, 51, 51); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 13.5pt; font-family: &quot;Microsoft Yahei&quot;; color: rgb(51, 51, 51); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <div><span style="font-size: 13.5pt; font-family: &quot;Microsoft Yahei&quot;; color: rgb(51, 51, 51); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

Market Analysis – 18/04/25

<span style="font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap; font-size: 18px;">US Stocks Topple on Fed Comments – Nasdaq Down 3%<span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The major US stock indices all fell in trading overnight as Jerome Powell pushed back on any heightened expectations of rate cuts in the US. The Fed Chair said, “The level of the tariff increases announced so far is significantly larger than anticipated. The same is likely to be true of the economic effects, which will include higher inflation and slower growth.” The Dow dropped 1.73%, the S&amp;P 2.20%, and the Nasdaq dumped 3.07%. Treasury markets focused on the growth comment, with yields dropping down the curve—the 2-year off 7.6 basis points to 3.769%, and the 10-year down 5.7 basis points to 4.276%. Meanwhile, the dollar continued to fall, the DXY trading back towards the annual low, down 0.78% to 99.28. Oil prices spiked on news that the US has issued fresh sanctions on Chinese imports of Iranian oil—Brent up 2.03% to $65.98 and WTI up 2.09% to $62.61—whilst gold continued to break new records, up 3.59% to $3,341.63 an ounce.<span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap; font-size: 18px;">Dollar Remains Out of Favour<span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The US dollar has taken a beating over the last couple of weeks, as President Trump’s higher-than-expected tariffs have led to a large restructuring of portfolios, with investors attempting to digest the implications on the global economy. Normally a safe haven trade in times of global distress, the market has interpreted the US tariffs as leading to much slower growth in the US, and the dollar has fallen swiftly out of favour after an initial rally following “Liberation Day.” In effect, the tariff update backfired for an administration which still favours a strong dollar, and the Liberation was really opening the door of the cage of dollar bears to then smash the market. The DXY now sits close to its annual low again as we approach a low-liquidity long weekend, and unless we see a strong change of direction in the coming days, the dollar could sink further into fresh ranges against most of the majors.<span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap; font-size: 18px;">Another Busy Calendar Day to Close the Full Trading Week<span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Traders are preparing for another busy and volatile day ahead as they continue to battle geopolitical updates and a full macroeconomic event calendar before the long weekend. The Asian session has already seen a slightly higher-than-expected New Zealand CPI print, and now focus will move across the Tasman for Australian employment data later in the session. Investor focus will be firmly on Europe once London opens today, with the ECB due to update the market on its latest rate call. The market is expecting a 25-basis point cut, from 2.65% to 2.40%, but most traders are expecting the volatility to come from updates in the statement and press conference. The New York session sees the usual weekly unemployment data released (expected 225k) alongside the Philly Fed Manufacturing Index numbers, but again, most market participants are keeping a close eye on newswires for more tariff and trade updates to move markets.<span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <div><span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

Market Analysis – 17/04/25

<span style="font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap; font-size: 18px;">US Stocks Push Higher as Investors Digest Tariffs – S&amp;P up 0.8%<span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The three major US stock indices all pushed higher in trading yesterday as investors continued to digest all recent tariff updates. The Dow gained 0.78%, the S&amp;P 0.79%, and the Nasdaq pushed up 0.64%. Treasury yields remained volatile, pulling back from recent strong gains—the 2-year losing 11.5 basis points to move back to 3.845%, and the benchmark 10-year dropping 11.6 basis points to 4.374%. The dollar remained under pressure, the DXY losing another 0.3% to close the session at 99.72. Oil prices had a quieter day than they’ve experienced over the last week or so—Brent up 0.26% to $64.93 and WTI up 0.15% to $61.59—whilst gold pulled back from Friday’s all-time high, dropping 0.82% on the day to finish at $3,209.59 an ounce.<span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap; font-size: 18px;">Uncertainty the Only Certainty<span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The last couple of weeks have been some of the most volatile since the Covid pandemic hit markets five years ago, and investors and traders alike are now trying to piece the various (moving) parts of the puzzle together to make informed decisions. Correlations are breaking down across the board, with large percentage corrections still occurring on a daily basis, and some of the traditional haven trades have suffered—particularly US-focused (i.e., the dollar and treasuries)—whilst others, e.g., gold, JPY, and CHF, have flourished. Sadly, at the moment, uncertainty very much rules the roost, and until we get some sort of consistency on what will actually be implemented in terms of tariffs and any counter-tariffs, we will continue to see volatile markets. It appears that non-US havens will continue to appeal.<span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap; font-size: 18px;">Event Calendar Kicks into Action Today<span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The macroeconomic event calendar kicks into action today with some key data and central bank updates due out across the trading sessions, which will add some fundamentals to the geopolitical updates that have been rocking markets. The Asian session will see a focus on Australian markets, with the Reserve Bank of Australia’s Monetary Policy Meeting Minutes due out early in the session. We have some key data due out of the UK early in the European session today—employment data is due out, with the Claimant Count expected to show an increase of 30k fresh claims, with the unemployment rate remaining steady at 4.4%. We also have key data due out shortly after the New York open, with the focus on Canadian markets and the latest CPI print. The headline month-on-month number is expected to show a 0.7% increase, with the median year-on-year data coming in at +2.9%. We also have the Empire State Manufacturing Index due out in the US at the same time to kick off US data for the week.<div><span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div><div><span style="font-size: 12pt; font-family: Arial, sans-serif; color: rgb(33, 37, 41); font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

Market Analysis – 15/04/25

Markets Await Tariff Update – Nasdaq Jumps 0.9% Yesterday&#39;s trading session in the US was marked by a cautious atmosphere, with investors adjusting their positions ahead of a crucial tariff update from President Trump later today. The Dow ended nearly flat, down by just 0.03%, while technology stocks helped propel both the S&amp;P 500 and Nasdaq to finish the day in the green, up 0.38% and 0.87%, respectively. Treasury yields fell again, with the 2-year bond down by 0.2 basis points to 3.881%, and the 10-year bond dropping 3.6 basis points to 4.169%. Major currencies experienced a quiet day, trading within established ranges, with the DXY adding a slight 0.05% to close at 104.23. Oil prices retreated from five-week highs, with Brent down 0.48% at $74.41 and WTI slipping 0.39% to $71.20. Gold, which had surged to a new all-time high, pulled back slightly to end the day down 0.4%, closing at $3,110.55. Investors Await Tariff Update with Caution The market is closely watching President Trump’s tariff announcement scheduled for later today, as any new tariffs introduced will take immediate effect. Speculation surrounding the scale and scope of the tariffs remains high, with discussions focused on whether the President will implement broad, universal tariffs—possibly around 20%—or pursue more targeted reciprocal tariffs. Regardless of the specifics, traders are bracing for volatility, as the announcement is expected to shake up market dynamics and create significant price movements across asset classes. Quiet Economic Calendar Ahead of Tariff Update The economic calendar for today is largely devoid of major events, which sets the stage for the President’s tariff update to take center stage later in the day. Early in the session, markets will hear from RBA Assistant Governor Christopher Kent, and moves in the Australian Dollar are expected as a result. However, there are few notable releases in the Asian session. In Europe, third-tier data will be released, with a focus on the ADP Non-Farm Employment Report in the New York session. Expectations are for the creation of 118,000 new jobs last month. However, most market participants are anticipating that the tariff update will dominate the day’s trading, with the potential for substantial volatility following President Trump&#39;s 4 PM New York Time announcement.

Market Analysis – 02/04/25

<h4 data-start="1243" data-end="1300">Mixed Markets Ahead of Tariff Update – Dow up 1%</h4> US stocks saw a mixed day ahead of key tariff updates and economic data due later this week. The Dow added 1%, the S&amp;P rose 0.55%, while the Nasdaq dropped 0.14%. Treasury yields fell again after Friday&#39;s sharp drop, with the 2-year down 2.9 basis points to 3.883% and the 10-year down 4.4 basis points to 4.205%. The dollar crept higher against major currencies, with the DXY up 0.16% to 104.17.Oil prices surged higher amid increasing supply concerns, with President Trump considering further tariffs on Russia and possibly military action against Iran. Brent crude rose 2.71% to $74.73 a barrel, and WTI gained 3.06% to $71.48 a barrel. Gold continued to climb as haven flows pushed it to new record highs, gaining 1.23% on the day to close at $3,123.33 an ounce. <hr data-start="2076" data-end="2079"/><h4 data-start="2081" data-end="2138">Tariff “Liberation Day” – How Hard Will They Go?</h4>Investors and traders are closely watching developments in Washington, especially regarding President Trump&#39;s latest tariff announcements and whether the new administration will take a more aggressive stance to &quot;level the playing field.&quot; Some market estimates suggest that a harder tariff policy could raise the average tariff rate by up to 28%, potentially causing a 4% reduction in US GDP and pushing prices up by 2.5%, resulting in a $1 trillion decrease in output. These numbers, though estimates, could have substantial economic impact.Many investors are hoping for a softer tariff update on Wednesday, with announcements likely to come after the Asian market opens when liquidity is low and most products could experience volatility. Overall, most traders expect the tariff updates to create more volatility, and even once markets stabilize, the future direction remains unclear. <hr data-start="3033" data-end="3036"/><h4 data-start="3038" data-end="3101">Rate Decisions and Data Ahead, But Tariffs to Dominate</h4>Today’s macroeconomic calendar is busy, with many data points to keep traders focused on the fundamentals. However, all market participants are aware of the tariff updates due on Wednesday from President Trump, and most expect their impact to dominate.The Australian market will be in focus to kick off the day, with Retail Sales data (expected +0.3% m/m) due in the morning session and the Reserve Bank of Australia’s rate decision in the afternoon. The RBA is widely expected to keep rates unchanged after January&#39;s &quot;hawkish cut,&quot; with traders focusing on the statement and subsequent press conference for any policy hints. As the London market opens, focus will shift to Europe, with CPI data and a scheduled speech by ECB President Christine Lagarde. In the New York session, key US data will be released, including ISM Manufacturing PMI (expected 49.5) and JOLTs Job Openings (expected 7.9 million). However, once again, most traders expect the impact of tariff discussions to outweigh the data’s short-term effects.

General Market Analysis – 01/04/2025

<h3 dir="ltr" style="line-height:1.38;margin-top:12pt;margin-bottom:12pt;"><span style="font-size: 15pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">[Last Week&#39;s Review]</h3><div dir="ltr" style="margin-left:0pt;" align="left"><table><colgroup><col width="104"/><col width="86"/><col width="86"/><col width="89"/><col width="91"/><col width="73"/><col width="73"/></colgroup><tbody><tr style="height:38.5pt" class="firstRow"><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Commodity</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Opening Price</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Highest Price</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Lowest Price</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Closing Price</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Change</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Change (%)</td></tr><tr style="height:25pt"><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">ETH</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">2627.06</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">2791.26</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">2547.78</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">2661.35</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">-354.05</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">-0.36%</td></tr><tr style="height:25pt"><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">BTC</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">96473.09</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">98864.20</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">94086.92</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">96122.72</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">+34.26</td><td style="vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">1.30%</td></tr></tbody></table></div><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Last week, most cryptocurrencies traded within a narrow range. Selling pressure emerged following Trump&#39;s repeated tariff hike announcements and the impact of DeepSeek, causing short-term bearish momentum to deplete. Investors turned cautious, and the market had largely priced in expectations that the Fed would slow down its rate cuts. As a result, inflation data had a limited impact on market volatility. However, this period of compressed price fluctuations is unlikely to last long, and once the consolidation phase ends, new catalysts will drive crypto prices out of the current range.<h3 dir="ltr" style="line-height:1.38;margin-top:12pt;margin-bottom:12pt;"><span style="font-size: 15pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">[This Week &amp; Future Outlook]</h3><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">This week&#39;s economic data may have a limited impact on the market. Investors should continue focusing on Trump&#39;s tariff policies. Earlier reports suggested that the implementation of reciprocal tariffs in the U.S. could be delayed until early April. The market interprets this as Trump using tariffs as a negotiation tactic. If upcoming negotiations between the U.S. and other countries show goodwill, concerns over the impact of tariffs may ease.<span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Looking ahead, the U.S. 10-year Treasury yield has retreated from its recent rebound high, reducing pressure on risk assets, which is favorable for crypto to regain upward momentum. Additionally, Bitcoin&#39;s Hash Ribbon indicator suggests miners are entering a &quot;capitulation phase.&quot; Historically, this indicates a market bottom and signals the potential for a long-term rally. If history repeats itself, this could boost investor confidence and drive a broad crypto market recovery.<span style="font-size: 15pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">[Technical Analysis]<div><img src="/ueditor/net/upload/image/20250218/6387547925571815707825576.png" title="" alt=""/><img src="https://804483479.gieqd.com/cms/a759e131b2d941b5b5bfe84ec2fb43a6_1739882566663.png" title="" alt=""/></div> <h3 dir="ltr" style="line-height:1.38;margin-top:12pt;margin-bottom:12pt;"><span style="font-size: 15pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">[Trading Advice]</h3><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">DOGE 4-hour chart<span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The higher highs and higher lows indicate a bullish trend. The 61.8% Fibonacci retracement of the latest upward wave (0.26186) theoretically provides support, making it a potential entry point for a long position. A break below the previous low (0.24656) would suggest a trend reversal, and the long position should be stopped out. The target price is the previous high (0.28661).<span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">&quot;This suggestion is for reference only and does not constitute any buy or sell recommendation. Trading in markets such as Forex and stocks may be influenced by various factors, causing market price fluctuations. Investors should proceed with caution.&quot;<div><span style="font-size: 12pt; font-family: &quot;Trebuchet MS&quot;, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

[Crypto Weekly Report]  Market Remains Cautious, Awaiting More Catalysts

Fundamental Analysis: U.S. API crude oil inventories recorded a third consecutive weekly decline as of early yesterday, while official EIA crude oil inventories have now fallen for five weeks in a row. This reflects strong short-term demand for U.S. crude, driven by an unusually cold winter that has pushed natural gas prices to a two-year high and supported rising oil prices. Additionally, Bloomberg reported that Europe’s energy costs have surged, with electricity prices exceeding €1,000 due to insufficient wind power and high natural gas generation costs. As a result, markets are leaning towards fuel oil for heating. Adding to the energy strain, Russia&#39;s natural gas supply to Europe via Ukraine is set to cease by 2025, exacerbating Europe&#39;s energy demand and further boosting short-term oil price expectations. Technical Analysis: On the hourly Bollinger Bands chart, WTI crude rebounded sharply from the lower band, hitting new intraday highs and maintaining an upward channel. This indicates that the bullish trend remains intact, suggesting an opportunity for those without positions to consider entering long positions at short-term support levels. <img src="https://804483479.gieqd.com/cms/ad13d1c64ba44ee6a39479bb0e7aa2f8_1735818231835.png" title="" alt=""/> Trading Recommendation: Enter a long position on WTI crude at 71.53 on a pullback, with a target of 72.80 and a stop-loss at 70.70. Support Level: 70.72 Resistance Level: 72.80Disclaimer: The above content is for reference only and does not represent the platform’s position. Stick to your trading strategies and ensure appropriate risk management.

[WTI Crude Oil Strategy] Gas Supply Disruptions Push Oil Prices Higher

<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Nasdaq Strategy - Market Sentiment Weakens, Selling Pressure Persists <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">U.S. 10-year Treasury yields retreated slightly from their highs yesterday but remain elevated, putting pressure on U.S. equities. Persistent selling led to further declines in the stock market, and worsening market breadth indicated a broad-based selloff. Current market sentiment is bearish, suggesting short-term downside risks remain. Looking ahead, if Treasury yields continue to rise, U.S. equities may face deeper corrections. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The hourly chart shows lower highs and lower lows, confirming the current bearish trend. Traders may consider splitting their funds into two batches for short positions, setting a stop-loss above the previous high and targeting an extended downside move.<img src="https://804483479.gieqd.com/cms/edf69656de1f4cc1a1e7843bfb4bf41c_1735655895572.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Recommendation: Short Nasdaq at 21,176.40 and 21,291.36, <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stop-Loss: 21,477.45, Target: 20,875.34. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 20,875.34 Resistance Level: 21,477.45 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Disclaimer: The above content is for reference only and does not represent the platform&#39;s stance. Investors should make their own judgments, manage risks properly, and take responsibility for their gains and losses.

Nasdaq Strategy - Market Sentiment Weakens, Selling Pressure Persists

<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">EUR/USD Strategy - Different Inflation Rebound Magnitudes, EUR/USD Trend Remains Bearish <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Spain&#39;s CPI for December exceeded expectations, rebounding from 2.4% to 2.8%, a sharper increase compared to the U.S. CPI. This development may hinder the European Central Bank’s (ECB) rate-cutting trajectory. ECB Governing Council member Holzmann suggested that the pace of rate cuts might slow, temporarily boosting EUR/USD. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">However, markets remain pessimistic about the Fed&#39;s rate-cut outlook for next year, with some predicting no cuts at all. Coupled with the U.S. economic growth prospects being significantly better than those of the Eurozone, EUR/USD faced sharp declines during the U.S. trading session. Thus, the recent EUR/USD trend remains bearish, favoring sell positions on rebounds. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">On the hourly chart, EUR/USD has dropped rapidly from the upper Bollinger Band to the lower band, finding temporary support. However, the channel still points downward, indicating the earlier uptrend may have ended. Traders can look to enter short positions during intraday rebounds near upper resistance.<img src="https://804483479.gieqd.com/cms/24a618ff99464e9dbbed3f56c0c7b7bb_1735643790732.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Recommendation: Short EUR/USD at 1.0429 on a rebound. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Target: 1.0371. Stop-Loss: 1.0460. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 1.0371 Resistance Level: 1.0457 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Disclaimer: The above content is for reference only and does not represent the platform&#39;s stance. Stick to your own strategy and ensure proper risk management.

EUR/USD Strategy - Different Inflation Rebound Magnitudes, EUR/USD Trend Remains Bearish

Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The Reserve Bank of Australia&#39;s (RBA) meeting minutes released this week revealed that policymakers believe price pressures are easing as expected. Therefore, they consider it appropriate to begin easing the degree of monetary policy tightening. Although Australia&#39;s inflation growth rate remains above the 2% target, this does not necessarily mean the RBA will start cutting rates immediately. However, with the Federal Reserve also lowering its interest rate cut expectations for next year, the USD is likely to maintain its leading position, putting further pressure on non-USD currencies. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The 15-minute chart for AUD/USD shows that the price is within a descending range. There is a possibility of a correction to the supply and demand zone to regain momentum. Short positions can be entered in the supply zone, with stop-loss above the range&#39;s top and targets set at the range&#39;s bottom or the current low.<img src="https://804483479.gieqd.com/cms/2dd3541167b2472fbf3213674b951fc5_1735303621507.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Recommendation: <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Enter short at 0.62220 or better.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stop-loss: Above 0.62288 Target: 0.62151.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 0.62117 Resistance Level: 0.62288 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Disclaimer: The above content is for reference only and does not represent the platform&#39;s stance. Stay firm in your strategy and ensure proper risk management.

AUD/USD Strategy - RBA Eases Policy Stance, USD Maintains Leading Position

Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Yesterday, Western markets observed the Christmas holiday, with most commodities markets closed and trading subdued. In the precious metals market, mixed fundamentals and significant uncertainty in the outlook, along with the time required for Washington&#39;s new policies to take effect, have kept recent price movements within a consolidation range. Looking ahead, although Trump&#39;s tariff policies are likely to hinder price declines, their impact on the overall economy and employment remains uncertain. In the short term, precious metals are expected to exhibit repeated fluctuations. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">On the 1-hour chart, silver&#39;s price rise failed to make a new high, and its retracement did not break the previous low. This, combined with a compressed price range, indicates an unclear trend. Thus, conservative traders are advised to stay on the sidelines, while aggressive traders can buy near short-term support levels.<img src="https://804483479.gieqd.com/cms/01d7c37c7dfa47c2b08a22cf82b4f97c_1735235698645.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trade Recommendation: Buy at 29.40, with a stop loss below 29.10 and targets at 29.85-30.26.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 29.40 Resistance Level: 30.26<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">[Trading involves certain risks. The above recommendation does not guarantee profits. Investors should assess their financial situation and position management carefully.]

Silver Strategy - Awaiting Future Changes, Silver Enters Consolidation

Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Before Christmas, the RBA&#39;s meeting minutes indicated that price pressures are declining as expected, making it reasonable to begin easing policy. Meanwhile, the US Dollar Index experienced a slight decline after Christmas but remained in a bullish pattern, largely supported by the Fed&#39;s recent revision of next year&#39;s rate cut path. Under the assumption that the Fed will reduce rate cuts to two next year, if other major central banks maintain or turn toward more aggressive rate-cutting policies, the US Dollar is expected to remain strong.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The AUD/USD 5-minute chart shows the price is in a downward range and may correct toward a supply-demand zone to regain momentum. Short positions can be entered at the price supply zone, with stop-loss set above the top of the range and the target set at the bottom of the range or the current low.<img src="https://804483479.gieqd.com/cms/9ecedf3c9ae04799b64d2e8643e30396_1735220190037.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Recommendation:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Short AUD/USD at 0.62500 or better, with a stop-loss above 0.62537 and a target of 0.62463.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> 0.62256 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Resistance Level:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> 0.62537<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">[Disclaimer: The above content is for reference only and does not represent the platform&#39;s stance. Please maintain your judgment, manage risks appropriately, and take responsibility for your trading outcomes.]<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">

AUD/USD Strategy - RBA Hints at Rate Cuts, USD Remains Strong

Fundamental Analysis:<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Yesterday&#39;s U.S. December Conference Board Consumer Confidence Index fell to 104.7, but this did not provide sufficient support for silver prices. The survey revealed that an increasing proportion of consumers are concerned about politics and tariffs, with nearly 46% expecting tariffs to raise living costs. This inflation-driven price increase could slow the Federal Reserve&#39;s rate-cutting pace, thereby weighing on precious metals. The long-term economic impact of tariffs remains uncertain, requiring further observation. In the short to medium term, silver is likely to experience volatile movements. <span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">On the 1-hour chart, silver prices show upward movements without reaching new highs, and pullbacks have not broken previous lows. The fragmented candlestick patterns suggest an unclear trend. Therefore, during periods of ambiguous trends, cautious investors are advised to stay on the sidelines, while aggressive traders may consider short-term long positions based on lower support levels.<img src="https://804483479.gieqd.com/cms/67324d77acbb43189f719b24d021c02f_1735063005008.png" title="" alt=""/><span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Recommendations: <span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Consider going long at 29.39.<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stop-loss: Below 28.78. Target: 29.84 - 30.27.<span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 29.39 Resistance Level: 30.27 <span style="font-size: 12pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Disclaimer: Trading involves certain risks. Recommendations are not guaranteed for profit. Investors should assess their own funds and position management.

Silver Strategy - Awaiting Policy Impact, Mixed Silver Movements

<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space-collapse: preserve;">Fundamental Analysis<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space-collapse: preserve;">:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Last Friday, U.S. inflation data slowed, with November&#39;s PCE data rising only by 0.1%, lower than October&#39;s revised 0.2%. Following the release, the previously rising 10-year U.S. Treasury yield dropped, boosting precious metals&#39; performance. Additionally, on the Federal Reserve side, voting member Williams emphasized that both inflation and future policy remain highly uncertain, stating that future policy paths will depend on economic developments. If U.S. economic data weakens in the future, it will further support the rise of precious metals.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">On the hourly chart for silver, the price shows a rebound after consolidation, breaking previous resistance levels and setting new recent highs. The price is above the moving averages, indicating strong buying momentum. If the price pulls back without breaching previous support levels, the trend may continue upward. Hence, short-term buying is recommended.<img src="https://804483479.gieqd.com/cms/43375443f6014664958504d7b3582a67_1734976366286.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Advice<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Suggest entering a short-term buy at 29.59, with a stop loss below 28.78, and targets at 30.11-30.55.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 29.59<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Resistance Level: 30.55<span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading involves risks, and this advice is not a guarantee of profit. Investors should assess their own funds and position management.<div><span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

Silver Strategy - Emphasizing Uncertainty: Silver Gradually Recovers

<h3 dir="ltr" style="line-height:1.38;margin-top:14pt;margin-bottom:4pt;">Fundamental Analysis:</h3><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Last Friday&#39;s U.S. November PCE data came in lower than expected, easing market concerns about the Fed&#39;s rate policy outlook. This paused the rise in U.S. Treasury yields and the dollar, providing room for a rebound in non-U.S. currencies. As a result, short-term long positions in non-U.S. currencies may be considered. However, several Federal Reserve officials delivered hawkish remarks, indicating that the outlook for rate cuts next year remains bleak. Thus, the rebound of non-U.S. currencies may be limited.<h4 dir="ltr" style="line-height:1.38;margin-top:12pt;margin-bottom:2pt;"><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:</h4><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The 15-minute chart shows higher highs and lows, indicating a bullish trend. Two batches of funds can be used for a low-entry long strategy. If the price breaks below the previous low, stop-loss measures should be applied. Take-profit targets can be set at extended levels of the price increase.<img src="https://804483479.gieqd.com/cms/65535078ae7141f69af928566b595683_1734952693059.png" title="" alt=""/><h4 dir="ltr" style="line-height:1.38;margin-top:12pt;margin-bottom:2pt;"><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Recommendation:</h4><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Enter GBP/USD long positions at <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">1.25844<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> and <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">1.25664<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">. Set a stop-loss at <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">1.25372<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">, with a target at <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">1.26316<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">: 1.25372 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Resistance Level<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">: 1.26316<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">[This content is for reference only and does not represent the platform&#39;s stance. Investors should exercise their own judgment, manage risks carefully, and be responsible for their own gains and losses.]<div><span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

GBP/USD Strategy - U.S. PCE Below Expectations, Non-U.S. Currencies Short-Term Appreciation

Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Yesterday, the Bank of Japan (BoJ) maintained its interest rates, with Governor Kazuo Ueda stating that more time is needed to evaluate domestic wage growth and the impact of new U.S. policies. These effects are expected to become clearer by March to April next year. Additionally, Ueda downplayed the impact of yen depreciation on import inflation and did not emphasize the urgency of raising rates, leading to the yen&#39;s continued weakness. However, looking ahead, the yen&#39;s rapid short-term depreciation could attract government attention, raising the possibility of intervention. It is also worth noting whether the trend might reverse due to overextension. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">On the one-hour chart, USD/JPY surged to a new high before pulling back, forming a recent low. This indicates increased selling pressure above. If subsequent rebounds fail to break resistance, the trend may undergo further downward correction. Aggressive traders are advised to consider short positions.<img src="https://804483479.gieqd.com/cms/d8f73af34f14401296a0e57e2b88b4f1_1734701099019.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Recommendations:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Short at 157.27, with a stop-loss above 157.95, and target 155.05–156.15.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support level: 155.05 Resistance level: 157.27 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Disclaimer: Trading involves certain risks, and these recommendations do not guarantee profit. Investors should assess their capital and position management capabilities.

USD/JPY Strategy - BoJ's Conservative Stance Weakens Yen to Recent Lows

<h4 dir="ltr" style="line-height:1.38;margin-top:12pt;margin-bottom:2pt;"><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fundamental Analysis:</h4><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The bearish impact of the Federal Reserve&#39;s hawkish interest rate decision continues to weigh on precious metals. Looking ahead, although current inflation data suggests only a slight increase in U.S. inflation, the risk of a significant resurgence in inflation is low. However, strong economic performance may still lead to the risk of interest rate hikes. Some investors have already started pricing in the possibility of rate hikes. Against this backdrop, the U.S. dollar may continue to rise, putting pressure on precious metals.<h4 dir="ltr" style="line-height:1.38;margin-top:12pt;margin-bottom:2pt;"><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:</h4><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The one-hour chart shows lower highs and lower lows, indicating the current trend is bearish. Therefore, short positions can be established in two batches. Stop-loss should be placed above the previous high, and the take-profit target is set at the extended downward range.<img src="https://804483479.gieqd.com/cms/5bb9a7d0691544b695f47a5227b40df9_1734696313829.png" title="" alt=""/><h4 dir="ltr" style="line-height:1.38;margin-top:12pt;margin-bottom:2pt;"><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Recommendations:</h4><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Short silver at <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">29.102<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> and <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">29.331<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">, with a stop-loss at <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">29.700<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> and a target at <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">28.505<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support level<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">: 28.505 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Resistance level<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">: 29.700<span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Disclaimer: The above content is for reference only and does not represent the platform&#39;s stance. Investors should exercise their judgment, manage risks effectively, and take responsibility for their profits and losses.<div><span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

Silver Strategy - Market Pricing Interest Rate Risk, Silver Extends Downtrend

<h4 dir="ltr" style="line-height:1.38;margin-top:12pt;margin-bottom:2pt;">Fundamental Analysis:</h4><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Yesterday, the UK’s three-month average earnings including bonuses rose from 4.4% to 5.2%, hindering the inflation reduction process and causing traders to reduce bets on Bank of England rate cuts next year. The Bank of England is now expected to cut rates by about 55 basis points by the end of 2025, compared to the previous forecast of 72 basis points. This provided temporary strength to the British pound.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">However, with the UK unemployment rate at 4.63%, the Bank of England still faces pressure to cut rates. Additionally, the U.S. November retail sales data showed strong performance, recording a 0.7% increase, beating the previous figure of 0.5%. This suggests that the Federal Reserve may slow down the pace of rate cuts next year. The difference in monetary policy flexibility between the two central banks is weakening GBP/USD&#39;s rebound momentum.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">On the 1-hour chart, GBP/USD has been fluctuating and rising from its low, temporarily forming a bullish pattern with dual moving averages. However, the overall downward structure has not completely changed. Additionally, the candlesticks have twice tested and been rejected at the lower edge of the previous fluctuation range. Therefore, traders without positions can still consider entering short positions at the current resistance level.<img src="https://804483479.gieqd.com/cms/d267a9bef7bf41cb94416b478454b730_1734544873910.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Recommendations:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Short GBP/USD at 1.2683.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Target: 1.2613. Stop-loss: 1.2729.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> 1.2613 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Resistance Level:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> 1.2728<span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Note: The above content is for reference only and does not represent the platform&#39;s stance. Maintain your strategy and implement appropriate risk controls.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">

GBP/USD Strategy – Strong U.S. Retail Data, GBP/USD Shows Weakness

Fundamental Analysis:Recently, U.S. economic data has heightened market expectations that the Federal Reserve may slow its pace of rate cuts next year. As a result, U.S. Treasury yields have risen, widening the 10-year government bond yield spread between the U.S. and Japan. A wider yield spread makes the U.S. dollar more attractive relative to the yen, increasing depreciation pressure on the yen. If this week&#39;s dot plot suggests a reduced scale of rate cuts and Fed Chair Powell takes a hawkish stance, the U.S.-Japan yield spread may further widen, adding more pressure on the yen.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The 30-minute chart shows higher highs and lows, indicating a bullish trend. Two batches of funds can be deployed for low-entry long positions, with stop-losses below the previous low and targets set at the extended price level.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"><img src="https://804483479.gieqd.com/cms/96576e94321a48509561cb8f7a109535_1734435094942.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trade Recommendation:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Long USD/JPY at 154.081 and 153.836.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stop-loss: 153.441. Target: 154.720.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> 153.441 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Resistance Level:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> 154.720<span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Disclaimer: The above content is for reference only and does not represent the platform&#39;s stance. Investors should exercise their judgment, manage risks properly, and take responsibility for their profits and losses.

USD/JPY Strategy - U.S.-Japan Yield Spread Widens, Yen Under Depreciation Pressure

Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Reports indicate that Israel approved plans on Sunday to settle in the Golan Heights, a region it occupies. This adds potential geopolitical conflict risks. However, gold has not responded with a rebound, suggesting that the event’s safe-haven appeal is insufficient. On the other hand, investors currently believe that Trump’s new policies will increase inflation risks and delay future Federal Reserve rate cuts. Combined with the strong U.S. data released last week, the dollar is expected to gain short-term support, further limiting the rebound momentum of precious metals. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The 15-minute gold chart shows prices moving within a descending range, with potential for corrections to the supply and demand zone to accumulate momentum again. Therefore, short positions can be entered at the supply zone, with stop-loss set above the top of the range and targets at the bottom of the range to the current low.<img src="https://804483479.gieqd.com/cms/dfb99aa044de4b0493b3c48124eaaa0c_1734358179309.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Recommendation: <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Short at 2659.51 or better, stop loss above 2664.41, target 2654.61.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 2646.01 Resistance Level: 2664.41 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Disclaimer: The above content is for reference only and does not represent the platform&#39;s position. Stick to your own strategy and practice proper risk management.

Gold Strategy - Bulls Limited by Strong Dollar, Rebound Lacks Strong Support

Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Last week, the U.S. November PPI and CPI reports indicated signs of inflation rebounding. Additionally, U.S. employment data showed no urgency for the Federal Reserve to cut interest rates. As a result, the market is betting that the Fed may slow its pace of rate cuts, pushing the yield on the 10-year U.S. Treasury bond stronger, even approaching the 4.5% mark. This has placed pressure on precious metals. If this week’s interest rate decision and dot plot suggest a slowdown in rate cuts, it could further weaken precious metals. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The hourly chart shows lower highs and lows, indicating the current trend is bearish. Therefore, it is recommended to plan a short-selling strategy in two batches of funds. Set a stop loss if prices break above the previous high, and take profit at extended downside targets.<img src="https://804483479.gieqd.com/cms/889ffe1918b9407486c8a0a201cef51b_1734348978122.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Recommendations:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Short silver at 30.592 and 30.784, set a stop loss at 31.095, and target 30.089. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 30.089 Resistance Level: 31.095<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The above content is for reference only and does not represent the platform&#39;s position. Investors should make their own judgments, manage risks carefully, and be responsible for their profits and losses.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">

Silver Strategy - Rising U.S. Bond Yields Put Pressure on Precious Metals

<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Ahead of the release of U.S. CPI data this evening, forex and commodity markets are experiencing intense short-term fluctuations, reflecting a fierce battle between bulls and bears. The probability of a Fed rate cut next week is now close to 90%, and regardless of the data, this expectation is unlikely to change. However, investors will use the data to assess policy directions for the next year. Most institutions currently predict that the Fed will pause rate cuts at its January meeting and adopt a cautious approach toward easing policies, as policies under U.S. President-elect Trump are likely to reignite inflationary pressures. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">For short-term trading, it&#39;s important to note that commodities, forex, and stock indices have all exhibited volatile upward and downward swings today, suggesting that traders are adjusting their positions ahead of the data release. This could indicate an increased risk of volatility this evening. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">On the 15-minute GBP/USD chart, prices are within an upward channel. If prices correct to the supply and demand zone, long positions can be entered in this zone before the correction is complete. Stop-loss should be placed below the bottom of the range, and targets can be set at a 1:1 risk-reward ratio or extended to the current high as a flexible goal.<img src="https://804483479.gieqd.com/cms/1a3667182451429a86de3359ef36987f_1733942286077.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Recommendation: Enter long at 1.27443 or better, with a stop loss below 1.27234 and a target at 1.27653.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 1.27234; Resistance Level: 1.27794 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">[The above content is for reference only and does not represent the platform&#39;s position. Stick to your strategy and implement proper risk control.]<div><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

GBP/USD Strategy - U.S. Inflation Data to Be Released, High Volatility Across Commodities Today

Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Yesterday, the Chinese government expressed its intention to implement more aggressive fiscal policies and moderately ease monetary policies. This is expected to invigorate economic development, improving the outlook for China’s economy. As Australia has close trade ties with China, this briefly strengthened the Australian economy’s prospects, resulting in a short-lived rise in the AUD and AUD/USD. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Additionally, the Reserve Bank of Australia’s (RBA) rate decision, which aligned with market expectations by keeping rates unchanged, indicated a decrease in inflationary pressure in its policy statement. This could be interpreted as a prelude to future rate cuts, causing the AUD to experience a significant pullback, leading AUD/USD to turn bearish again. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">On the 1-hour chart, AUD/USD initially showed strong upward momentum, breaking through previous highs. However, the failure to hold at support indicates significant resistance above, maintaining a bearish outlook. If the subsequent rebound fails to break resistance, the downtrend is likely to continue.<img src="https://804483479.gieqd.com/cms/c5e956c0e02049428610778f4cfa0089_1733835895079.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Recommendation: Consider opening a light short position at 0.6422.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Target: 0.6360. Stop Loss: 0.6460.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support: 0.6360. Resistance: 0.6422. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The above content is for reference only and does not represent the platform’s position. Stick to your strategy and implement appropriate risk controls.

AUD/USD Strategy - Inflation Pressure Eases, Leading to Significant Drop in AUD

<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fundamental Analysis: 
Last Friday, the U.S. November Non-Farm Payroll report showed a gradual cooling trend, but it did not significantly boost the NZD&#39;s performance. The primary reason for the NZD&#39;s weakness lies in the Reserve Bank of New Zealand&#39;s pessimistic outlook on the economy. In its last rate decision, the RBNZ cut interest rates by 50 basis points, marking the third rate cut this year, and projected that economic growth would only recover next year. This starkly contrasts with the relatively strong U.S. economy, leading to continued weakness in the NZD. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis: 
On the 1-hour chart for NZD/USD, the trend shows lower highs and lows, with recent lows being broken. The moving averages are sloping downward, indicating strong selling pressure. If subsequent rebounds fail to break through previous resistance levels, the trend may remain weak. Thus, short-selling is recommended.<img src="https://804483479.gieqd.com/cms/1fc0d4cc24a7461785a4bcc083482cd0_1733762807062.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Suggestion: <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Sell at 0.5831<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stop Loss above 0.5858 Target: 0.5790–0.5802<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 0.5790 Resistance Level: 0.5831<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Note: Trading involves risk, and the suggestions provided do not guarantee profits. Investors should evaluate their funds and position management.

NZD/USD Strategy - Weak Outlook, NZD Continues to Soften

<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Last night, U.S. economic data continued to impress. Although PMI growth slowed, it remained in expansion territory. Later, Fed Chair Powell&#39;s remarks confirmed that the current economic environment is stronger compared to September. The Fed&#39;s Beige Book also showed increased economic activity and greater business optimism about demand prospects, providing reasons for slowing the pace of rate cuts in the future. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Meanwhile, this morning, a Bank of Japan (BOJ) official made dovish comments, expressing doubts about the sustainability of wage growth and predicting that inflation would remain below 2% next year. This contradicts the BOJ&#39;s earlier rate hike expectations driven by data, limiting the yen&#39;s upward momentum. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The 30-minute chart for USD/JPY shows the price is within an upward range. If the price corrects into the demand zone, long positions can be entered at the unfilled demand levels. Set the stop loss below the lower boundary of the range and aim for a 1:1 risk-reward ratio or extend the target to the current trend high as a flexible goal.<img src="https://804483479.gieqd.com/cms/0561afd409fb471884b2bbbe18ae32c6_1733421522704.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Recommendation: <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Buy at 149.440 or better.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stop Loss: Below 148.643. Target: 150.236.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 148.643 Resistance Level: 151.226 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Disclaimer: The above content is for reference only and does not represent the platform&#39;s stance. Stick to your own analysis and implement proper risk management.

USD/JPY Strategy - Fed Confirms Economic Strength, BOJ Stance Uncertain

Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">This morning, Australia&#39;s Q3 GDP was reported at 0.8%, which is below market expectations and the previous reading. This suggests a potential slowdown in the Australian economy. Additionally, the recently released Chinese Services PMI showed a decline. Given China&#39;s significant impact on Australia&#39;s economy, the series of weak data has led to a pessimistic outlook for Australia&#39;s economic future. This resulted in a sharp drop in the Australian Dollar (AUD) this morning, pushing the AUD/USD pair to a new recent low. Furthermore, stable U.S. employment data released yesterday and the fading impact of last month&#39;s labor market disruptions suggest that this week&#39;s employment data may be strong. This could bolster the U.S. Dollar (USD) and further pressure AUD/USD downward. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">On the hourly chart, AUD/USD resumed its decline after a bounce to the moving average, with the downward trend intensifying and setting new recent lows. The moving averages show a bearish alignment, indicating a bearish outlook. However, the KD indicator shows a golden cross at low levels, suggesting a potential oversold rebound. It is advised not to attempt short-term long positions during bearish trends. Instead, wait for a rebound to the resistance level of 0.6445 to enter a light short position. Target is set at 0.6395, with a stop loss at 0.6480.<img src="https://804483479.gieqd.com/cms/f5cea34006d6404c8cb968b3a120700d_1733327524223.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Recommendations:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Action: Wait for a rebound to 0.6445 and enter a light short position.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Target: 0.6395 Stop Loss: 0.6480<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support: 0.6395 Resistance: 0.6445<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Disclaimer: The above information is for reference only and does not represent the platform&#39;s position. Stick to your own strategies and ensure proper risk management.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">

AUD/USD Strategy - Australian Economy Under Pressure, AUD/USD Weakens in the Short Term

Fundamental Analysis: U.S. Treasury yields fell back after previously reaching the 4.5% level. Although recent economic data does not support market expectations for rate cuts, the hawkish remarks from officials have already led investors to digest the outlook for a slower pace of rate cuts. This has caused the dollar to retreat from its high, providing upward momentum for non-U.S. currencies. Looking ahead, if U.S. Treasury yields continue to trend lower toward 4%, this may simultaneously weaken the dollar, favoring further rebounds in non-U.S. currencies.Technical Analysis: The 30-minute chart shows higher highs and higher lows, indicating a bullish trend. Therefore, a strategy involving two batches of funds for low-buy positions can be employed. A stop-loss should be set if the price falls below the previous low, while the take-profit target can be set at the extended upward price level.<img src="https://804483479.gieqd.com/cms/e8c941dcdb724f84a67a7dee6a709106_1732876545716.png" title="" alt=""/> Trading Recommendation: Buy NZD/USD at 0.58968 and 0.58901, with a stop-loss at 0.58792 and a take-profit target at 0.59144.Support Level: 0.58792&nbsp;Resistance Level: 0.59144Disclaimer: The above content is for reference only and does not represent the platform&#39;s stance. Investors should exercise their own judgment, manage risks appropriately, and take responsibility for their profits and losses.

NZD/USD Strategy - U.S. Treasury Yield Weakness Drives Dollar Depreciation, Non-U.S. Currencies Rebound

<h3>[US Oil Strategy] Middle East Ceasefire Eases Tensions, Oil Prices Weaken Temporarily</h3><h4>Fundamental Analysis:</h4>The ceasefire agreement between Israel and Hezbollah has eased market concerns over Middle East conflicts. While the possibility of renewed warfare cannot be entirely ruled out, the temporary cessation of hostilities reduces the likelihood of disruptions in oil supply, causing a significant drop in oil prices. Additionally, the OPEC+ meeting has been postponed to December 5, suggesting that member countries may not have reached a consensus on extending the production cut agreement. If the agreement is not extended, it could lead to increased oil supply and further pressure on oil prices.<h4>Technical Analysis:</h4>On the 1-hour chart, US oil shows a decline after facing resistance, with moving averages maintaining a bearish alignment. This indicates a bearish trend. However, the KD indicator is approaching the oversold zone, which might slow the short-term downtrend. Still, traders should avoid entering long positions in a bearish trend. Instead, consider light short positions around the resistance at 68.65, with a target of 67.20 and a stop-loss at 69.30. <img src="https://804483479.gieqd.com/cms/1877dea612994670b6a9dd80b31ec250_1732818005645.png" title="" alt=""/><h4>Trading Recommendation: Enter a light short position at 68.65. Target: 67.20&nbsp;Stop-loss: 69.30&nbsp;Support: 67.20&nbsp;Resistance: 68.65</h4>Disclaimer: The above content is for reference only and does not represent the platform&#39;s stance. Stick to your strategy and implement proper risk control.

US Oil Strategy - Middle East Ceasefire Eases Tensions, Oil Prices Weaken Temporarily

Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Former President Trump previously indicated plans to impose additional tariffs. With China&#39;s economic performance sluggish and US tariff policies potentially causing further economic strain, the eurozone&#39;s weak economy could also face negative impacts from these policies. Against this backdrop, insufficient crude oil demand may worsen, suggesting that oil prices could be shorted during rallies. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The hourly chart shows lower lows, indicating stronger bearish momentum. A two-stage short strategy can be deployed: short positions can be entered at higher levels, with stop-loss set above the previous high and profit targets aligned with projected downward extensions.<img src="https://804483479.gieqd.com/cms/e7c21f7398a74baaa0f5e3b6ffb1837b_1732793392003.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Recommendations:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Short US oil at 68.780 and 69.301, with a stop-loss at 70.144 and a target of 67.416.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 67.416 Resistance Level: 70.144<span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Disclaimer: The above content is for reference only and does not represent the platform&#39;s stance. Investors should exercise their judgment, manage risks, and be responsible for their own profits and losses.<div><span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

US Oil Strategy - Tariff Hikes Harm Economy, Weak Crude Oil Demand Outlook

Fundamental Analysis: 
Yesterday, U.S. President-elect Trump issued clear tariff threats, stating plans to target Mexico, Canada, and China, providing a bullish boost for safe-haven assets. However, the ceasefire agreement between Israel and Hezbollah has eased geopolitical tensions, which could limit the upside for precious metals. This means that the bullish momentum may not face a completely resistance-free path. Additionally, traders should note that the U.S. will soon enter the Thanksgiving holiday period, during which market liquidity is expected to decline. This could amplify the impact of U.S. data released tonight. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis: 
The 15-minute chart for silver shows prices within an upward channel. If the price corrects to the supply-demand zone, long positions can be considered within this zone, with stop losses set below the channel&#39;s bottom. A 1:1 risk-reward ratio or extending the target to the current trend&#39;s high can be used as flexible targets.<img src="https://804483479.gieqd.com/cms/f267249c5f8e44f0a8184742811ce6e1_1732721374536.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Recommendation: <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Entry: Long at 30.256 or better.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stop Loss: Below 30.109. Target: 30.402.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 30.109 Resistance Level: 30.683 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The above content is for reference only and does not represent the platform&#39;s stance. Stick to your strategy and manage risks appropriately.

Silver Strategy - Tariff Policies Spark Concerns, Precious Metals Rebound from Bottom

Fundamental Analysis:&nbsp;<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Yesterday, U.S. housing market data mostly declined, primarily due to the rebound in mortgage rates, which dampened consumer willingness to purchase homes. Although Trump threatened to increase tariffs, it did not cause significant market volatility, as the market expects his remarks to be more of a negotiation tool. Before the tariffs are implemented, their bearish impact on non-USD currencies is limited. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Additionally, this morning, the Reserve Bank of New Zealand (RBNZ) announced a 50 basis points rate cut and indicated plans for further rate reductions next year, citing the expectation of spare capacity in the economy. While the statement was dovish, it did not deviate significantly from market expectations, leading to an NZD rebound driven by a &quot;buy the rumor, sell the fact&quot; reaction. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:&nbsp;<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">On the hourly chart, NZD/USD shows a rebound to new highs after a period of consolidation, potentially indicating stronger buying momentum below. If subsequent support levels hold, the rebound is likely to continue. Therefore, attention can be given to opportunities for buying on dips.<img src="https://804483479.gieqd.com/cms/6794f2ff8d2f4836b767da1dacd86b01_1732717289959.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Recommendation: <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Entry: Consider going long at 0.5858.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Stop Loss: Below 0.5835. Target: 0.5884–0.5901.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 0.5858 Resistance Level: 0.5901 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading involves certain risks. Recommendations are not guaranteed for profit. Investors should evaluate their own funds and position management carefully.<div><span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> </div>

NZD/USD - New Zealand Cuts Rates by 50 Basis Points, NZD/USD Rebounds Against Expectations

<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Last night, the U.S. initial jobless claims dropped to a seven-month low, and October&#39;s existing home sales data rebounded strongly. This reflects a resilient job market and recovering consumer spending, which challenges the prospect of a Federal Reserve rate cut. While the probability of a December rate cut remains above 50%, it has dropped significantly from over 70% a week ago. Furthermore, next year’s rate cut pace might be slower than expected. Additionally, escalating tensions in Eastern Europe have spurred safe-haven demand, likely keeping the dollar strong in the near term. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The 15-minute chart for AUD/USD shows the price within a descending channel. There is potential for the price to retrace to a supply zone to rebuild momentum. Therefore, a short position can be considered at the supply area, with a stop loss set above the channel top and a target at the bottom of the channel or the current low point.<img src="https://804483479.gieqd.com/cms/6de4b64e5e5748cd954e58c6632fc786_1732274480789.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Strategy: Short at 0.65190 or better, stop loss above 0.65320, and target 0.65059.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 0.64968 Resistance Level: 0.65320<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Disclaimer: This content is for reference only and does not represent the platform&#39;s stance. Stick to your own analysis and manage risks appropriately.

AUD/USD Strategy - Positive Data, USD Supported by Two Key Factors

Fundamental Analysis: The Reserve Bank of Australia&#39;s (RBA) recent minutes indicate no rush to shift toward a dovish policy, with its hawkish stance providing support for the Australian dollar. However, the probability of a December rate cut by the Federal Reserve has dropped to 54%, significantly lower than last week&#39;s 83%, reflecting investor concerns over rising inflation. This supports the US dollar and limits the gains of non-USD currencies. Additionally, internal disagreements may be emerging within the Fed, as evidenced by conflicting statements from two board members yesterday: Bowman expressed concerns over inflation risks, while Cook believed that price pressures would continue to ease. These developments are causing investors to revise their expectations, alongside market bets that Trump&#39;s policies could reignite inflation, potentially slowing the Fed&#39;s rate-cutting pace in the future.Technical Analysis: The 15-minute AUD/USD chart shows prices within an ascending channel, with the possibility of a correction to the demand zone to rebuild momentum. Long positions can be entered at the demand zone, with stop losses set below the bottom of the range and targets set at the top of the channel or the recent high. <img src="https://804483479.gieqd.com/cms/4fe8d0f176344a70bd79cf0bef5f5fee_1732187709745.png" title="" alt=""/> Trading Suggestion: Consider going long at 0.64977 or better, with a stop loss below 0.64841 and a target of 0.65113. Support Level: 0.64841&nbsp;Resistance Level: 0.65183 The above content is for reference only and does not represent the platform&#39;s stance. Stick to your own strategy and manage risks accordingly.

AUD/USD Strategy - Potential Shift in Fed's Stance, Market Focuses on Policy Outlook

Fundamental Analysis: The market&#39;s optimism regarding NVIDIA&#39;s earnings report has driven the stock price higher, boosting the Nasdaq&#39;s rebound. Attention should be paid to NVIDIA&#39;s earnings report, which will be released after the U.S. market closes. Investors should focus on the delivery status of the Blackwell GPU. Previous reports indicated potential delivery delays due to overheating issues, which had shaken investor confidence. Therefore, if the Blackwell GPU can be delivered as planned and NVIDIA&#39;s profitability continues to grow, its earnings report could be the key to determining whether the Nasdaq can reach new historical highs. Technical Analysis: The 15-minute chart shows higher highs and higher lows, indicating a bullish trend. Investors can consider splitting their funds to enter low long positions in two batches. Set a stop-loss below the previous low, and aim for profit at the extended price target.<img src="https://804483479.gieqd.com/cms/6c5c5ec072da4f0abec02b21d91bbf98_1732115400238.png" title="" alt=""/>Trading Recommendation: Go long on the Nasdaq at 20713.95 and 20684.03, with a stop-loss at 20635.60 and a target at 20792.30.Support Level: 20635.60&nbsp;Resistance Level: 20792.30 The above content is for reference only and does not represent the platform&#39;s stance. Investors should exercise their own judgment, manage risks properly, and take responsibility for their profits and losses.

Nasdaq Strategy - Optimistic Outlook on NVIDIA Earnings, Nasdaq Rebounds

Fundamental Analysis: Last Thursday, the U.S. October PPI monthly and yearly rates rebounded more than expected, increasing inflation risks from the production side. Additionally, the September retail sales monthly rate was revised up from 0.4% to 0.8%, while the October figure was 0.4%, exceeding the market expectation of 0.3%. This demonstrates resilient consumer spending, raising concerns about future inflation resurgence. Coupled with Fed Chair Jerome Powell&#39;s comments highlighting the strength of the U.S. economy and no rush to cut interest rates, gold and silver saw a sharp decline. However, uncertainties such as the Russia-Ukraine war, Middle East conflicts, fiscal deficits, and trade tariff wars still loom, which could sustain safe-haven demand for gold and silver, presenting short-term buying opportunities for silver. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis: On the hourly chart, silver rebounded after testing the bottom, leading the moving averages to turn into a bullish crossover. The candlestick pattern also suggests a potential head-and-shoulders reversal. Therefore, traders without a position might consider short-term buying opportunities during the day, while aggressive traders may consider entering long positions at the current price.<img src="https://804483479.gieqd.com/cms/3af9fe33d9904b5688ccbc6561c2d551_1731955649570.png" title="" alt=""/> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Recommendation:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Conservative Approach: Buy silver on a pullback to 30.58, target 31.13, stop loss at 30.25.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Aggressive Approach: Buy at the current price, with a stop loss revised to 30.50.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 30.26 Resistance Level: 31.13 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Disclaimer: The above is for reference only and does not represent the platform&#39;s stance. Stay firm in your own strategy and implement appropriate risk control.

Silver Strategy - Uncertainty Persists, Silver May Rebound with Volatility

<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The poor guidance from Applied Materials, a key upstream semiconductor equipment supplier, has fallen short of expectations, raising concerns about the continued weakness in semiconductor demand outside of AI. This earnings report has undermined market confidence in the chip sector, dragging U.S. equities into further correction. Looking ahead, the direction of U.S. equities will hinge on Nvidia&#39;s earnings report. If the report and its guidance fail to satisfy investors, overvalued U.S. equities may continue to face selling pressure. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The 30-minute chart shows lower highs and lower lows, indicating a bearish trend. Short positions can be entered in two batches. Stop-loss should be placed above the previous high, and the target set at extended downward levels.<img src="https://804483479.gieqd.com/cms/7a0cd1f15c254503a53d65201f588e16_1731937583852.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Strategy:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Short Nasdaq at 20497.72 and 20606.35, with a stop-loss at 20782.18 and a target of 20213.26.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support: 20213.26&nbsp; Resistance: 20782.18 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The above content is for reference only and does not represent the platform&#39;s stance. Investors should have their own judgment, manage risks effectively, and take responsibility for their gains and losses.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">

Nasdaq Strategy - Poor Guidance from Applied Materials Leads to Further Tech Stock Corrections

Fundamental Analysis<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">The U.S. Producer Price Index (PPI) for October showed an unexpected rebound both month-on-month and year-on-year, raising concerns about increasing inflationary pressures on the production side. Federal Reserve officials have also adjusted their stances accordingly. Yesterday, Governor Kugler stated that if progress on inflation stalls, it might necessitate a pause in rate cuts. Chairman Powell also emphasized the strength of the U.S. economy and stated that the Fed has time to observe the impact of Trump-era policies on the economy, indicating no rush to cut rates. These factors have reduced market expectations for Fed rate cuts next year, which is unfavorable for gold and silver bulls. This extends the correction period for silver&#39;s previous gains. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">On the 1-hour Bollinger Bands chart, silver rebounded after breaking the lower band but remains within a bearish structure. The channel currently appears to be moving sideways. When prices approach the upper band and begin to decline, short positions may be considered as a resistance level strategy.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"><img src="https://804483479.gieqd.com/cms/633a1f8c67d244e8b7aabd00fed3cd98_1731670582728.png" title="" alt=""/> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Suggestions<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Short Entry: Sell silver lightly at 30.62.,Target 1: 29.88 and Target 2: 29.69 , Stop Loss: 31.15<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Key Levels : Support: 29.69 Resistance: 31.12 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Disclaimer: The above content is for reference only and does not represent the platform&#39;s stance. Stay firm in your strategy and practice proper risk management.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-style: italic; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">

Silver Strategy - Powell Unhurried on Rate Cuts, Silver Loses Luster

Fundamental Analysis: <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Given former U.S. President Trump’s previous policies and campaign statements, the market anticipates a renewed trade storm under his leadership, which would not only harm economic growth but also push inflation higher. This raises the expectation that the Federal Reserve might need to maintain high interest rates to curb inflation, reducing the likelihood of a future Fed rate cut and strengthening the USD, which indirectly pressures non-USD currencies. Additionally, tonight’s key inflation data (CPI) will be released, with projections suggesting it may surpass previous levels due to a significant base effect and substantial oil price increases last month. Past Fed statements have indicated that rising inflation would justify delaying rate cuts, leading to stronger USD momentum and further weakening non-USD currencies. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis: <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">On the one-hour chart for the EUR/USD, the short-term highs and lows are trending downward, indicating weakness. If a subsequent rebound fails to break through resistance, the downtrend may continue. Therefore, it is suggested to take a light short position at the resistance level of 1.0642, with a target of 1.0560 and a stop loss at 1.0690.<img src="https://804483479.gieqd.com/cms/a1ac45307a704648a0bdf5c6c68be745_1731496707146.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Recommendation: <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Take a light short position at resistance level 1.0642, with a target of 1.0560 and a stop loss at 1.0690.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 1.0560; Resistance Level: 1.0642. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; font-variant-emoji: normal; vertical-align: baseline; white-space: pre-wrap;">This content is for reference only and does not represent the platform&#39;s stance. Stick to your own strategy and implement appropriate risk control.

Euro-American Strategy - Inflation May Rise Again Due to Tariffs, Short-term Weakness in Euro/USD

<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Fundamental Analysis: <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Yesterday, the gold market continued to be influenced by news of Trump’s election victory. According to the Associated Press, Republicans have gained a lead in the House of Representatives, setting up a &quot;red wave&quot; that will allow Trump’s tariff and tax cut plans to advance quickly, potentially driving U.S. inflation higher. This could bring an abrupt end to the Federal Reserve&#39;s easing cycle. With the market continually reacting to policy expectations, gold recorded its worst performance in over five months, and silver continued to decline as well. <span style="text-decoration: none; font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> On the hourly chart for silver, the price movement shows lower highs and lower lows, consistently reaching new lows. The downward-sloping moving averages indicate strong selling pressure. If the subsequent rebound fails to break the previous resistance level, the downtrend may continue. Therefore, short positions are advised.<img src="https://804483479.gieqd.com/cms/1f74efb6b47740a38adb14ca4dcf7666_1731434858477.png" title="" alt=""/> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Trade Recommendation: <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;"> <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Consider a short position at 30.45, with a stop loss above 30.78 and a target at 29.85.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level: 29.85; Resistance Level: 30.45. <span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Trading involves certain risks, and these recommendations do not guarantee profit. Investors should evaluate their own capital and position management.

Silver Strategy - Rate Cuts Come to a Halt, Gold and Silver Plunge

<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Fundamental Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">&nbsp;<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">With both the House and Senate likely to be Republican-majority, Trump&#39;s policies may find smoother passage, enabling his &quot;strong America&quot; agenda. This has driven the U.S. dollar upward, adding to market optimism about an economy shielded by such policies. Consequently, safe-haven assets like precious metals have weakened. Additionally, last Friday, U.S. consumer confidence showed signs of recovery. Coupled with previous economic and employment data, the market anticipates a &quot;soft landing&quot; or &quot;no landing&quot; scenario, prompting funds to flow into risk assets and diminishing the appeal of precious metals.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Technical Analysis:<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">&nbsp;<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">On the hourly chart, silver saw a strong rebound after a sharp decline, but the subsequent momentum has weakened, and selling pressure has intensified, with moving averages signaling a bearish crossover. This indicates an overall weak trend. However, with a low-level bullish crossover on the KD indicator, a short-term rebound is possible. Nonetheless, in a bearish trend, avoid taking long positions on rebounds. Instead, consider a light short position at the resistance level of 31.45, with a target of 30.95 and a stop loss at 31.90.<img src="https://804483479.gieqd.com/cms/ac819306dc4d4d77b861fcbc72c6d964_1731336856071.png" title="" alt=""/><span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Trading Strategy<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">:&nbsp;<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Consider a light short position at 31.45 resistance, targeting 30.95 with a stop loss at 31.90.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Support Level<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">: 30.95 <span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Resistance Level<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">: 31.45<span style="font-size: 11pt; font-family: Arial, sans-serif; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Disclaimer<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">: The above content is for reference only and does not represent the platform’s stance. Individuals are encouraged to adhere to their strategy and manage risks accordingly.<span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">

Silver Strategy - Funds Shift to Risk Assets, Precious Metals Temporarily Weaken

Fundamental Analysis After Trump&#39;s election victory, the market has shifted focus to his policies. Investors are concerned that Trump’s tariff policies may drive up inflation, limiting the Fed&#39;s room to cut rates, which could strengthen U.S. Treasury yields and put pressure on precious metals. In the short term, post-election, &quot;Trump trades&quot; may continue to influence market trends, suggesting a potential short position on gold. Technical Analysis On the 30-minute chart, lower highs and lows indicate a bearish trend. The latest decline shows resistance at the 61.8% retracement level, making this a potential short entry. If prices break above recent highs, the trend may shift, and short positions should have stop-losses in place. Take profit at previous lows, as the downtrend halted here previously.<img src="https://804483479.gieqd.com/cms/54de764e0aa04543ab88601a446a0efa_1731002404481.png" title="" alt=""/> Trade Recommendation&nbsp; Short gold above 2664.88, with a stop-loss at 2678.14 and a target at 2643.42. (Please calculate spread independently) Support level: 2643.42&nbsp;Resistance level: 2678.14The above content is for reference only and does not represent the platform&#39;s stance. Trust your strategy and manage risk accordingly.