DatTong

DatTong

Macro theme: - Gold prices retreated from recent highs as improved risk sentiment following the US-China trade deal and a stronger US dollar weighed on safe-haven demand. - Gold ETFs recorded modest outflows in Apr, but the withdrawal slowdown suggests easing profit-taking pressure. - In the near term, trade optimism may keep gold under pressure, though central...

DatTong

Macro approach: - DXY edged higher, recovering earlier losses as the Fed held rates and Powell was cautious. - Jun cut hopes faded, though markets expect three cuts this year, potentially lifting DXY short-term. - A potential US-UK trade deal also helps ease bearish sentiment on the dollar. Technical approach: - DXY is hovering around the key resistance at...

DatTong

Macro: - Microsoft (MSFT) climbed on cautious optimism ahead of major earnings and economic data. - Four of the “Magnificent Seven,” AMZN, AAPL, META, and MSFT, are set to report, with investors focusing on Microsoft (MSFT) today. - Wall Street expects EPS of 3.22 USD and revenue of 68.44 B USD, both up YoY. Microsoft’s strength in AI, cloud, and enterprise...

DatTong

Macro: - The crypto market rebounded as sentiment improved following the US Treasury Secretary's proposal to ease stablecoin regulations, boosting trading volumes and risk appetite. - On-chain data reflects growing activity. The average bitcoin trade size rose 15% MoM, overall volume jumped, and 78% of supply is now in profit. - Liquidity support from the...

DatTong

Macro: - Oil prices stay weak as trade war fears weigh on global growth and energy demand. - The IEA cut its 2025 oil demand growth forecast to just 730k bpd, the slowest pace in five years, down from 1.03 mln. - Meanwhile, OPEC+ output is rising, with Saudi Arabia set to boost exports to China in May and Russia maintaining steady production, fueling oversupply...

DatTong

Macro: - Gold prices have fallen since Trump's 'Liberation Day' tariff announcement, as global stock market pressure and hedge fund margin calls forced asset liquidations, including gold. - Despite the short-term drop, gold remains a key medium-term hedge against recession risks and ongoing uncertainty once markets stabilize. - High volatility may persist until...

DatTong

Macro: - President Trump's recent tariff announcement has triggered sharp volatility in the crypto market, with Bitcoin falling below $84,000 amid fears of a global trade war and economic slowdown. - The Crypto Fear and Greed Index remains in "Extreme Fear," signalling cautious investor sentiment. - Despite the turbulence, institutional interest in Bitcoin...

DatTong

Macro: - The Japanese yen weakened in the last few days as markets eyed the potential impact of upcoming US reciprocal tariffs on key Japanese exports. - Minutes from the BoJ's Jan meeting showed policymakers remain open to further rate hikes, depending on wage growth and inflation data. - Recent comments from US President Trump helped ease the concerns about the...

DatTong

Macro: - Oil prices continued their decline following an agreement between the US and Russia to halt attacks on energy infrastructure, though without implementing a complete ceasefire. - The market turned bearish amid expectations that Russian sanctions may be eased, potentially increasing the oil supply surplus. - Uncertainty lingered as geopolitical tensions in...

DatTong

Macro: - Economic concerns in the US, including slowdown risks and trade policy uncertainties, have weakened the US dollar against the swiss franc, benefiting from its safe-haven status. - Traders expect 0.75% in Fed rate cuts this year, with a Jun cut fully priced. Investors now await Wed's US inflation report for further cues. - Meanwhile, net long dollar...

DatTong

Macro: - Oil prices stabilised after hitting multi-month lows as the market weighed potential output increases in Apr and escalating tariff tensions among Canada, Mexico, China, and the EU. - Meanwhile, the halted US military aid to the Eastern Europe conflict, and OPEC+ production decisions continue to pressure oil. Technical: - USOIL remains in a downtrend,...

DatTong

Macro: - Gold prices corrected as investors took profits following a brief consolidation near recent highs but maintained an upward bias amid uncertainty over Trump's tariffs and policy plans. - Meanwhile, strong ETF inflows and weak US economic data, reinforcing rate cut expectations for Jul, supported gold prices. - All focus is on this week's core PCE release...

DatTong

Macro: - The Dow remained in a prolonged sideways trend within a tightening range, navigating Fed policy uncertainty, geopolitical risks, and evolving trade policies. - Markets expect it to stay range-bound until the Trump administration finalizes tariff measures early next month. Technical: - US30 is trading in a tight range at the previous top level and...

DatTong

Macro: - The aussie-dollar is rebounding after the bearish sentiment over Trump’s tariffs has pressured the currency. - Expectations are rising that the RBA will cut interest rates this month due to easing inflation and weaker growth prospects. - This theme may impair currency recovery if there are any further corrections. Technical: - AUDUSD is recovering from...

DatTong

Macro: - The yen reached a multi-week high due to more hawkish expectations from the BoJ. Japan's December real Wage rose in the second month, driven by winter bonuses. - The Japan Service PMI was revised to 53. In addition, the BoJ signalled that it would be willing to raise interest rates when conditions met. Technical: - USDJPY dropped below both EMAs after...

DatTong

Macro: The pound weakened due to the absence of significant economic data as markets look for new catalysts. Today's movement is expected to align with dollar trends while traders focus on tomorrow's S&P Global PMI releases. UK and US Jan PMI figures are anticipated to show mixed results, with services slowing and manufacturing rebounding. Technical: - GBPUSD...

DatTong

+ Macro theme: The RBA kept rates at 4.35%, sounding more optimistic about inflation and hinting at future cuts. But Thu's job numbers might spoil those plans—Unemployment Rate dropped to 3.9%, showing a surprisingly strong labor market. This hot jobs data could push back those early 2025 rate-cut forecasts many have been making. + Technical theme: - AUDUSD found...

DatTong

Macro theme: - The US sanctions on 35 entities tied to a top-exporter Middle East country supported oil prices. - OPEC+ reportedly considers a three-month delay in output hikes, easing fears of oversupply ahead of Thu's decision. - Meanwhile, according to API data, US crude inventories rose by 1.232 mln barrels last week, following a 5.935 mln-barrel drop the...