每日机构分析：5月12日

Group 1: Euro and Currency Analysis - The euro is expected to appreciate in the long term, with analysts suggesting that this structural change may last longer than anticipated [1] - Deutsche Bank has revised its forecast for the euro to rise to 1.20 against the dollar by December and further to 1.30 by the end of 2027 [1] Group 2: Japanese Investment Trends - In April, Japanese pension funds purchased a record amount of foreign stocks, totaling 2.76 trillion yen (approximately 189 billion USD) [2] - Japanese investors net bought 2.12 trillion yen of U.S. stocks in March, marking the highest level since 2005 [2] Group 3: U.S. Treasury Yield Outlook - Goldman Sachs maintains a core view that short-term U.S. Treasury yields will decline, but warns of potential upward pressure on yields if economic data does not support rate cut expectations [2] - Citigroup suggests that the recent rise in global short-term bond yields may be losing momentum, with several factors potentially hindering the bond market [2] Group 4: Gold Price Forecast - JPMorgan predicts that gold prices could reach 6,000 USD per ounce by 2029, representing an 80% increase from current levels of approximately 3,300 USD [3] - The forecast is driven by a combination of U.S. policy changes leading to asset reallocations towards gold and limited increases in gold supply [3] Group 5: India-Pakistan Market Dynamics - The recent ceasefire agreement between India and Pakistan is viewed positively, with expectations of a rebound in risk assets for both countries [3] - A technical analysis indicates that if the USD/INR exchange rate breaks below the 200-day moving average support level of approximately 85.03, it would signal a positive trend [3]