EFS-The United States is constantly benefiting Polarization of S&P Gold

On Wednesday, there was a lot of heavyweight data, and the morning speech by US President Trump in Congress was more in line with investor expectations,1The trillion dollar infrastructure plan and large-scale tax cuts have greatly boosted investor confidence, and the late announcement of the United States2monthISMmanufacturingPMIThe data is very good, and the published value is57.7Far beyond expectations56.2And previous values56But in the United States1monthPCEThe price index is1.9%Slightly lower than expected2%ThereforeUSD IndexYesterday's impact102Stepping back after unsuccessful resistance level101.50The support level in the vicinity is generally higher in the future.
　　goldIn terms of aspect, the world's largest goldETF-SPDROur gold holdings are843.54Tons, slightly increased compared to the previous trading day2.37Tons, this is also the beginning of a new increase in holdings after two weeks. Although the US dollar performed strongly yesterday, gold1236After stabilizing nearby, the market immediately rebounded, and the main trend in the future is to retrace and go long.

　　crude oilOn the one hand, yesterday's announcement of the United StatesAPIAndEIAThe increase in crude oil inventory data was slightly smaller than expected, but due toUSD IndexStrong performance, oil prices are under pressure and are likely to continue to fluctuate in the short term.

The Federal Reserve's Economic Brown Book released early this morning shows that the US economy1Month to2Expanding at a slight to moderate pace in mid month, the job market continues to perform strongly, coupled with recent hawkish comments from Federal Reserve officials, the Federal Reserve3The probability of monthly interest rate hikes has increased60%Above. In addition, today we also need to focus on the eurozone2End of Month Seasonal AdjustmentCPIAnnual rate and1Performance of monthly unemployment rate and Canada12After adjusting the roseGDPMonthly rate and other data.

Specific technical aspects:

Crude oil daily chart

Crude oil continues to fluctuate in the short term, with strong support below the trend line and resistance above it55Nearby, currently mainly on a wait-and-see basis, waiting for clear direction before entering.

Golden Daily Chart

Due to recent developmentsUSD IndexStrengthening, gold is under pressure and experiencing a pullback. There is strong support below the middle track of the Bollinger Bands, and aggressive investors can wait for gold to rebound again1238Going long near the entry, placing stop loss at1234Nearby, stop earning1265。

S&P500Index daily chart

Due to Trump's congressional speech boosting investor confidence, the US stock market has shed its recent box load, but S&P500The index has reached a historical high, with2400The pressure at the checkpoint is high, the probability of short-term breakthrough is low, and the upward space is limited. We can wait for the S&P to step back2380Going long again in the vicinity, stop loss2376Stop surplus2395。

EFS   Analyst: Deng Pan