Since late December last year, the "Trump Trade" has driven up U.S. dollar interest rates and exchange rates. But gold didn't drop much; instead, the U.S. Dollar Index and gold prices rose together.In the short term, with the Federal Reserve's rate - cut expectations weakening and safe - haven buying cooling due to the Israel - Palestine deal, gold may face challenges. Long - term, in 2025 Q1, Trump's gradual tariff hikes could lead to re - inflation or economic slowdown, both good for gold prices. Also, U.S. fiscal issues affect the dollar's credit, and central banks' de - dollarization gold purchases make gold more likely to rise.The Impact of U.S. Dollar Interest Rates and Re - inflationThe Rebound of the Real U.S. Dollar Interest Rate Restricts Gold Prices: A strong U.S. job market in

The energy-related executive orders issued by Trump upon taking office include:Declaring a national energy emergency and fully ramping up drilling.Rebuilding the United States as a manufacturing powerhouse by leveraging the world's largest reserves of oil and natural gas.Refilling the Strategic Petroleum Reserve and exporting American energy to countries worldwide.Ending the Green New Deal, revoking mandatory electric vehicle requirements, saving the automotive industry, and revitalizing car manufacturing in the U.S. at an unprecedented pace.Trump's policies could create uncertainty in the oil market, rather than providing a clear path to lower or more stable prices. Oil prices experienced significant fluctuations, with WTI crude reaching over $80 per barrel, driven by supply concerns rela

Looking back at last week, after three consecutive weeks of sharp rises, the US dollar finally ushered in a correction, and the single-week decline was relatively large, nearly half of the previous increase. However, the weekly line of the the US Dollar Index still shows an obvious bullish technical form. Combined with the current fundamental situation, it is more likely that the market outlook will remain strong. In terms of non-US currencies, the yen surged due to inflation data; Looking ahead to this week, the U.S. non-farm payrolls report and public speeches of Federal Reserve officials will be the focus of the market.Global foreign exchange focus review and fundamental summaryAfter rising for three consecutive weeks, the US dollar experienced a weekly correction, and the follow-up tre

U.S. bond yields rose further last week, putting gold under pressure, but the long-term narrative has not changed. As far as copper is concerned, the performance of copper prices in the past two weeks has been extremely calm and in a state of volatility convergence, just as all kinds of assets have amplified fluctuations due to Trump's coming to power, thus pricing in advance the possibility after he took office. CORE POINTS1. Copper prices continued to fluctuate last week, and gold fell back after hitting a new highIn terms of precious metals, COMEX gold fell 0.55% and silver fell 5.22% last week; The Shanghai Gold 2410 contract fell 0.46%, and the Shanghai Silver 2410 contract fell 5.12%. Among the prices of major industrial metals, COMEX copper and Shanghai copper changed by-7.53% and-3

Last week, overseas interest rate cut expectations were further revised, and the CPI in September was higher than expected. At the same time, several Fed officials stated that interest rate cuts may be lower than previous market expectations. The market's interest rate cut expectations have also improved. The momentum of short-term economic growth has also improved, and copper prices have stabilized and rebounded accordingly. However, we do not think that the data in the United States will continue to strengthen, and we need to consider the possibility that the interest rate cut expectations will rise again.CORE POINTS1. Expectations for interest rate cuts continue to be revised, and copper prices stabilize and reboundLast week, overseas interest rate cut expectations were further revised,

The future trend of the yen and the US dollar was mainly driven by the policy factors of the two central banks, with the yen strengthening and the US dollar under pressure. Non-U.S. currencies mainly benefit from the growing downward trend of the U.S. dollar. For example, the British pound hit a new high in the past three years, and the Canadian dollar gained the biggest weekly increase of the year. Looking forward to this week, a number of Fed officials will make public speeches, and it is worth paying attention to whether the speeches can maintain consistency in dovish stances. In terms of economic data this week, U.S. inflation data, especially the core PCE price index, is more important: if the data is higher than expected, the decline in the US Dollar Index may ease. In addition, the