The Bank of Japan turns dovish again; the yen takes a short-term dive!

Hot spot tracking

• The Bank of Japan turned dovish again, and some factors have made the central bank more cautious about raising interest rates. Deputy Governor Shinichi Uchida said that interest rates would not be raised when the market is unstable, which calmed the market and the yen fell under pressure.

• The number of participants in the Federal Reserve's reverse repurchase facility has dropped to the lowest since June 2021, and the scale of use has dropped to the lowest since May 2021. Bearish for the dollar.

• EIA data showed that crude oil inventories fell by 3.728 million barrels, the sixth consecutive week of decline, the longest consecutive decline since January 2022. Total inventories fell to the lowest level since February. Strategic petroleum reserve inventories increased by 736,000 barrels, the largest weekly increase since June. U.S. crude oil production rose to a record high. Rising inventories and rising production are bearish for crude oil.

Product Hot Comment

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  Forex

  Product	Yesterday's Change	Yesterday's Close	Today's Open
  EUR/USD	▼-0.04%	1.09231	1.09236
  GBP/USD	▲0.02%	1.26922	1.2694
  AUD/USD	▲0.00%	0.65219	0.65222
  USD/JPY	▲1.49%	146.713	146.744
  GBP/CAD	▼-0.15%	1.74587	1.74558
  NZD/CAD	▲0.51%	0.82439	0.82434

  📝 Review:On Wednesday, the yen fell under pressure after the deputy governor of the Bank of Japan said that he would not raise interest rates when the market was unstable. The US dollar index rebounded from a seven-month low, and after standing above the 103 mark, it fell into a range of fluctuations and finally closed up 0.27% at 103.17. The US Treasury yield is close to ending the inversion. The benchmark 10-year US Treasury yield erased the decline since the release of non-farm payrolls data and closed at 3.954%; the two-year US Treasury yield fluctuated in a range and finally fell back in the late trading to close at 3.968%.

  🕵️ Operation suggestion:

  USD/JPY 146.172  Sell  Target Price  144.679

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  Gold

  Product	Yesterday's Change	Yesterday's Close	Today's Open
  Gold	▼-0.37%	2383.03	2381.13
  Silver	▼-1.36%	26.59	26.526

  📝 Review:Spot gold briefly broke through the 2,400 mark in the U.S. market, but gave up all the gains in the previous period and turned down, eventually closing down 0.27% at $2,382.76 per ounce. Spot silver finally closed down 1.37% at $26.58 per ounce.

  🕵️ Operation suggestion:

  Gold 2384.75  Sell  Target Price  2365.19

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  Crude Oil

  Product	Yesterday's Change	Yesterday's Close	Today's Open
  WTI Crude Oil	▲3.13%	74.631	74.646
  Brent Crude Oil	▲2.69%	78.209	78.241

  📝 Review:As the decline in US crude oil inventories was greater than expected, crude oil rebounded strongly from its position in recent months. WTI crude oil continued to rise during the day, with an increase of more than 3%, and once stood above $75. However, it failed to hold here and finally closed up 3.05% at $74.63 per barrel; Brent crude oil finally closed up 2.66% at $78.23 per barrel.

  🕵️ Operation suggestion:

  WTI Crude Oil 74.709  Buy  Target Price  76.384

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  Indice

  Product	Yesterday's Change	Yesterday's Close	Today's Open
  Nasdaq 100	▼-0.68%	17875.75	17805.95
  Dow Jones	▼-0.40%	38795.3	38724.7
  S&P 500	▼-0.46%	5201.65	5188.95
  	▼0.00%	17559.3	17559.3
  US Dollar Index	▼-0.26%	102.48	102.88

  📝 Review:The Dow Jones Industrial Average closed down 0.6%, the S&P 500 fell 0.77%; the Nasdaq fell 1.03%, and it once rose more than 2% during the session. Broadcom (AVGO.O) and Nvidia (NVDA.O) fell more than 5%, Tesla (TSLA.O) fell more than 4%, and Intel (INTC.O) fell 3.6%. The Nasdaq China Golden Dragon Index closed down 1.45%, Dingdong Maicai (DDL.N) fell nearly 11%, Xpeng Motors (XPEV.N) fell more than 5%, and Bilibili (BILI.O) fell more than 4%.

  🕵️ Operation suggestion:

  Nasdaq 100 17817.850  Sell  Target Price  17643.932

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  Crypto

  Product	Yesterday's Change	Yesterday's Close	Today's Open
  BitCoin	▼-2.31%	55106.6	55371.4
  Ethereum	▼-5.77%	2346.4	2357.1
  Dogecoin	▼-0.94%	0.09613	0.09625

  📝 Review:From the overall trend, the Bitcoin market is currently showing a clear bullish trend. Although the current price is slightly below $57,500, a weak bottom reversal pattern seems to be forming on the market's daily chart. If Bitcoin can maintain its current strong upward momentum in the near term, the price is expected to quickly break through the $60,000 mark and re-enter the 233-day moving average, which is generally regarded as a key indicator of the market's long-term trend.

  🕵️ Operation suggestion:

  BitCoin 54890.1  Sell  Target Price  53221.2