In the latest remarks, Federal Reserve Governor Christopher Waller commented on subsequent policy moves. Meanwhile, the U.S. released weekly initial jobless claims for the week ending August 29, which came in at 206,000 (slightly above expectations of 205,000). The trade deficit for July narrowed to $88.6 billion.
Financial markets then reacted sharply: the U.S. dollar against the Japanese yen fell significantly intraday by 2.00% to around 155.52. Spot gold quickly surged by nearly $20 to touch $4,466 per ounce, and silver also rose in tandem, up 1.5% to $66.3 per ounce.
This set of developments has attracted attention across the internet because the marginal weakening in employment data, together with remarks from Fed officials, further intensified disagreements in the market over the interest-rate path. Waller made it clear that if August inflation data continues to follow the recent trend, he would support keeping the benchmark interest rate unchanged. However, if inflation rebounds too strongly, the option of a rate hike in September remains on the table. As a result, the inflation indicators expected to be released soon will serve as the ultimate judge of whether the tightening cycle will continue or pivot.
Judging by the performance of traditional macro financial markets, the FX market and precious metals were the first to enter a defensive mode. The sharp appreciation of the yen reflects a risk-off return of carry-trade funds. The simultaneous rise in gold and silver also suggests that, before the policy “shoe” drops, larger funds are more inclined to hedge against the dual risks of currency and interest-rate volatility. Overall, liquidity expectations remain highly unsettled.
For the crypto community, wavering macro expectations have kept $BTC and major coins locked in a choppy range in the short term. Market sentiment is currently dominated by a wait-and-see attitude: there is no clear one-way breakout momentum, nor do signs of large-scale panic selling appear. People generally expect key inflation data to provide more definitive direction. During this time, it may be a relatively prudent approach to observe liquidity changes rationally.
#美联储 #宏观经济 #gold
Financial markets then reacted sharply: the U.S. dollar against the Japanese yen fell significantly intraday by 2.00% to around 155.52. Spot gold quickly surged by nearly $20 to touch $4,466 per ounce, and silver also rose in tandem, up 1.5% to $66.3 per ounce.
This set of developments has attracted attention across the internet because the marginal weakening in employment data, together with remarks from Fed officials, further intensified disagreements in the market over the interest-rate path. Waller made it clear that if August inflation data continues to follow the recent trend, he would support keeping the benchmark interest rate unchanged. However, if inflation rebounds too strongly, the option of a rate hike in September remains on the table. As a result, the inflation indicators expected to be released soon will serve as the ultimate judge of whether the tightening cycle will continue or pivot.
Judging by the performance of traditional macro financial markets, the FX market and precious metals were the first to enter a defensive mode. The sharp appreciation of the yen reflects a risk-off return of carry-trade funds. The simultaneous rise in gold and silver also suggests that, before the policy “shoe” drops, larger funds are more inclined to hedge against the dual risks of currency and interest-rate volatility. Overall, liquidity expectations remain highly unsettled.
For the crypto community, wavering macro expectations have kept $BTC and major coins locked in a choppy range in the short term. Market sentiment is currently dominated by a wait-and-see attitude: there is no clear one-way breakout momentum, nor do signs of large-scale panic selling appear. People generally expect key inflation data to provide more definitive direction. During this time, it may be a relatively prudent approach to observe liquidity changes rationally.
#美联储 #宏观经济 #gold