Banda Asia: Walsh nominated for Federal Reserve Chairman Gold falls sharply

The data released by the US Bureau of Labor Statistics shows that: U.S.A12monthPPIYoY 3%, expected 2.8%, Previous value 3% U.S.A12Monthly CorePPIYoY 3.3%, expected 2.9%, Previous value 3%。 U.S.A12monthPPImonth-on-month 0.5%, expected0.2%, Previous value0.2%。 U.S.A12Monthly CorePPImonth-on-month 0.7%, expected0.2%, Previous value 0%。 In terms of sub items, service costs have significantly increased, with a month on month increase in trade profit margin of2024The highest since mid year, with the wholesale profit margin of mechanical equipment becoming the main driving factor; The overall commodity prices remained stable due to the decline in energy, but the core commodity prices still showed an accelerating upward trend. This data has a crucial impact on monetary policy.PPIMultiple components will be included in the core personal consumption expenditure that the Federal Reserve is more concerned about（PCE）The price index may affect the subsequent interest rate decision-making path. Previously, Federal Reserve Chairman Powell announced the suspension of the current interest rate cut process, citing "stable economic performance and a balanced labor market".

Additionally, data from Statistics Canada shows that,2025year11During the month, the Canadian economy came to a standstill, Gross Domestic Product（GDP）Zero, previously10monthGDPDescending0.3% 。 The growth of the service industry offset the decline in commodity production, including manufacturing. Statistics Canada states that the overall manufacturing industry has declined1.3%Among them, the production of durable goods has the largest decline, reaching1.9%This includes the manufacturing of transportation equipment, machinery, metal products, as well as automobiles and components. The institution added that,11 The durable goods industry as a whole has declined in the month 2011 The lowest level since mid year, excluding affected COVID-19 The impact of the epidemic 2020 In the first half of the year.

The data that needs to be monitored today is Germany12Monthly actual retail sales rate, Eurozone1monthSPGImanufacturingPMIFinal value, UK1monthSPGImanufacturingPMIFinal value and the United States1monthISMmanufacturingPMI。

gold/dollar

Last Friday, gold experienced a significant drop, setting a new record8Trading day low, spot exchange rate trading at4550Nearby. In addition to profit taking continuing to exert pressure on gold, the nomination of hawkish Kevin Walsh as Federal Reserve Chairman is also an important factor in pressuring gold to decline. In addition, the significant increase in the US dollar index supported by favorable economic data and other factors has also exerted some pressure on gold. Today's Focus4700Nearby pressure situation, supported below4400Near.

dollar/Japanese yen

Last Friday USD/The Japanese yen has rebounded significantly, refreshing3High trading day, current exchange rate trading at154.90Nearby. In addition to providing some support for the exchange rate through short covering, the US dollar index rebounded significantly and recovered97.00The checkpoint is also an important factor supporting the rebound of the exchange rate. In addition, Japan's performance during the period was weakCPIThe data and concerns about political uncertainty in Japan also provide some support for the exchange rate. Today's Focus156.00Nearby pressure situation, supported below154.00Near.

dollar/Cad

Last Friday USD/The Canadian dollar has rebounded significantly and recovered1.3600Pass and refresh3High trading day, current exchange rate trading at1.3660Nearby. Short covering and replenishment1.3500The technical buying near the checkpoint has provided some support for the exchange rate, and the significant rise of the US dollar index supported by multiple favorable factors such as good economic data is also an important factor in supporting the rebound of the exchange rate. Today's Focus1.3750Nearby pressure situation, supported below1.3550Near.