Has the Federal Reserve's 50 basis point rate cut in September come to nothing? Gold surged nearly $50 from its intraday low!

Hot spot tracking

• The number of initial jobless claims in the United States for the week ending August 3 was 233,000, lower than the expected 240,000, the largest drop in nearly a year, easing market concerns about a recession in the United States. Traders cut their expectations for a 50 basis point rate cut by the Federal Reserve in September, bullish for the U.S. economy and the dollar.

• A 7.4 magnitude earthquake occurred near Kyushu Island, Japan. After the earthquake, the nuclear power plants did not report any abnormalities. The earthquake affected the Japanese economy and was bearish for the yen in the short term.

• TASS: Russian President Putin signed a law legalizing cryptocurrency mining in Russia, which is bullish for cryptocurrencies.

Product Hot Comment

• Forex

  Product	Yesterday's Change	Yesterday's Close	Today's Open
  EUR/USD	▼-0.05%	1.09183	1.09165
  GBP/USD	▲0.43%	1.27483	1.27473
  AUD/USD	▲1.11%	0.65947	0.65938
  USD/JPY	▲0.37%	147.28	147.227
  GBP/CAD	▲0.29%	1.75066	1.75019
  NZD/CAD	▲0.16%	0.82562	0.82551

  📝 Review:On Thursday, the number of initial jobless claims last week fell more than expected, easing concerns that the U.S. economy is about to fall into recession. The U.S. dollar index continued to rebound and stood firmly above the 103 mark, hitting a one-week high. But then it fell back and finally closed up 0.04% at 103.21. U.S. Treasury yields rebounded sharply. The benchmark 10-year U.S. Treasury yield once returned to 4%, closing at 3.997%; the two-year U.S. Treasury yield returned to 4%, closing at 4.050%.

  🕵️ Operation suggestion:

  USD/JPY 147.656  Sell  Target Price  145.315

  
  

• Gold

  Product	Yesterday's Change	Yesterday's Close	Today's Open
  Gold	▲1.93%	2427.2	2427.1
  Silver	▲3.74%	27.519	27.526

  📝 Review:Spot gold continued to rise during the day, expanding its gains before the US market and standing above $2,420. It rose nearly $50 from the intraday low and finally closed up 1.86% at $2,427.12 per ounce. Spot silver finally closed up 3.55% at $27.52 per ounce.

  🕵️ Operation suggestion:

  Gold 2424.33  Buy  Target Price  2456.85

  
  

• Crude Oil

  Product	Yesterday's Change	Yesterday's Close	Today's Open
  WTI Crude Oil	▲0.67%	75.146	75.178
  Brent Crude Oil	▲0.61%	78.718	78.741

  📝 Review:As the US employment data eased the demand concerns, crude oil maintained its rebound trend. WTI crude oil continued to rise before the opening of the US market and stood above $75, and finally closed up 0.69% at $75.15 per barrel; Brent crude oil finally closed up 0.64% at $78.73 per barrel.

  🕵️ Operation suggestion:

  WTI Crude Oil 75.158  Sell  Target Price  73.681

  
  

• Indice

  Product	Yesterday's Change	Yesterday's Close	Today's Open
  Nasdaq 100	▲3.48%	18425.15	18453.45
  Dow Jones	▲1.93%	39472.2	39475.4
  S&P 500	▲2.57%	5322.55	5325.25
  	▼0.00%	17559.3	17559.3
  US Dollar Index	▲0.19%	103.08	103.05

  📝 Review:As recession concerns eased, the three major U.S. stock indexes closed higher. The Dow Jones Industrial Average closed up 1.76%, the S&P 500 rose 2.3%, the largest single-day gain since November 2022, and the Nasdaq rose 2.87%. Star technology stocks rose across the board, with Intel (INTC.O) up nearly 8%, Broadcom (AVGO.O) up nearly 7%, Nvidia (NVDA.O) and TSMC (TSM.N) up more than 6%, Apple (AAPL.O) and Microsoft (MSFT.O) up more than 1%. The Nasdaq China Golden Dragon Index closed up 2.8%, Canaan Inc. (CAN.O) up nearly 10%, Baidu (BIDU.O) up nearly 6%, NIO (NIO.N) and Xpeng Motors (XPEV.N) up about 4%, and Alibaba (BABA.N) up more than 3%.

  🕵️ Operation suggestion:

  Nasdaq 100 18465.150  Sell  Target Price  17876.828

  
  

• Crypto

  Product	Yesterday's Change	Yesterday's Close	Today's Open
  BitCoin	▲7.37%	59450.9	61095.9
  Ethereum	▲8.90%	2566.8	2637
  Dogecoin	▲6.22%	0.10224	0.10453

  📝 Review:From the overall trend, the Bitcoin market currently shows a clear bullish advantage. As of press time, the price of Bitcoin has not yet broken through the key resistance level of 58,000 points. On the daily chart, the market has formed a strong bottom pattern, indicating that the daily level rebound has begun. Before a clear top pattern appears, investors should avoid blindly shorting the market.

  🕵️ Operation suggestion:

  BitCoin 61562.5  Buy  Target Price  62752.3