EUR/USD
Trend Theme：EUR/USD slides yet clings to 1.1100 as market awaits Powell’s speech
Trend Review：
EUR/USD falls as robust US Treasury yields bolster the dollar, despite Fed signals of potential September rate cuts. Mixed US data: Rising jobless claims and PMI results show service growth but worsening manufacturing contraction. ECB’s Kazaks suggests possible rate cuts with a cautious, restrictive policy approach.
Today Advise：Bullish
Key Levels：
| PP | Resistance* | 1.11243 * | 1.11264 ** | 1.11318 *** |
| 1.1121 | Support* | 1.11189 * | 1.11156 ** | 1.11102 *** |
Weekly forecast：
————————————————————————————————-
USD/JPY
Trend Theme：USD/JPY weakens below 146.50 after Japanese National CPI data, BoJ’s Ueda speech
Trend Review：
USD/JPY loses traction to near 146.20 in Wednesday’s early Asian session. Japan’s CPI inflation continued to rise in July, adding to expectations for another BoJ rate increase.Fed’s Collins said it will soon be appropriate to begin cutting rates.
Today Advise：Sideways
Key Levels：
| PP | Resistance* | 146.053 * | 146.269 ** | 146.625 *** |
| 145.913 | Support* | 145.697 * | 145.557 ** | 145.201 *** |
Weekly forecast：
————————————————————————————————-
WTI
Trend Theme：Crude oil trading reminder: The Fed’s interest rate cut expectations provide support, oil prices rebound from the low point in the past six months, and the geopolitical situation is once again “worrying”
Trend Review：Oil prices closed up more than 1% on Thursday, as expectations of a U.S. interest rate cut in a few weeks pushed oil prices back after four consecutive days of decline. A Greek-flagged tanker was attacked in the Red Sea, and sources said Israel’s request to station troops in Gaza hindered a ceasefire agreement, which also increased market concerns about geopolitical situations.
Today Advise：Bearish
Key Levels：
| PP | Resistance* | 73.086 * | 73.186** | 73.365*** |
| 73.007 | Support* | 72.907 * | 72.828 ** | 72.649*** |
Weekly forecast：
—————————————————————————————————
XAU/USD
Trend Theme：Gold falls overriding dovish Fed signals ahead Powell speech
Trend Review：
Gold retreats from a record high of $2,531 as US Treasury yields rise, with the 10-year note up 6.5 bps to 3.865%. US data shows mixed signals, with higher jobless claims and solid business activity despite ongoing manufacturing contraction. Fed Minutes hint at potential rate cut in September, but stronger US Dollar pressures Gold lower.
Today Advise：Bearish
Key Levels：
| PP | Resistance* | 2491.7* | 2493.22** | 2496.57*** |
| 2489.87 | Support* | 2488.35* | 2486.52** | 2483.17 *** |
Weekly forecast：
