受美元疲软和美联储主席积极言论提振，国际金价28日继续大幅飙升，连续突破每盎司5300美元和5400 美元两道整数关口，再创历史新高。 资讯编辑：王芳琴 021-66896877 资讯监督：乐卫扬 021-26093827 资讯投诉：陈跃进 021-26093100 受鲍威尔有关表态提振，美联储货币政策决定发布后，黄金价格短暂回落后再度上涨。 除了美联储以外，加拿大央行也在28日公布了最新利率决议。当天加拿大央行维持隔夜利率在2.25%不 变，银行利率维持在2.50%，存款利率维持在2.20%，均符合市场预期。但加拿大央行同时警告称，由 于美国贸易政策和地缘政治风险，经济前景难以预测。 另外，美元指数虽较27日触及的四年低点小幅反弹，但力度有限。衡量美元对六种主要货币的美元指数 当天上涨0.24%，在汇市尾市收于96.446。因美国总统特朗普27日称美元走弱对美国企业有利，认为美 元并未过度贬值，美元指数当天跌至四年低点，创下2025年关税政策实施以来最大单日跌幅。 近期白银价格的持续飙升促使交易所进一步收紧风控，这也令白银在近两个交易日表现略弱于黄金。芝 加哥商品交易所集团（CMEGroup）27日宣布提高 ...

Group 1 - The Federal Open Market Committee (FOMC) decided to maintain the benchmark interest rate at 3.50%-3.75%, pausing the series of rate cuts that began in September of the previous year [1] - The voting on the interest rate decision showed a split with a 10-2 ratio, where members Milan and Waller supported a 25 basis point cut [1] - The statement did not provide signals regarding the timing of the next rate cut, emphasizing that rate assessments will be based on data, economic outlook, and risks [1][2] Group 2 - The economic outlook has been upgraded, indicating that economic activity is expanding at a "robust" pace, although uncertainty remains high [2] - The employment market has shown signs of stabilization, with previous concerns about rising risks to employment being removed from the statement [2][4] - Inflation remains slightly above target, with core PCE inflation expected to rise to 3% in December, and tariff-related inflation anticipated to peak mid-year [5] Group 3 - The economic foundation in the U.S. is described as solid, with a noticeable improvement in the economic activity outlook compared to December predictions [3] - The labor market is stabilizing after a period of softening, with risks related to both inflation and employment having diminished [4] - Market reactions included fluctuations in gold and silver prices, with gold reaching a historical high, while the dollar and U.S. Treasury yields experienced slight volatility [5]

2026.01.28 自从去年9月以来，美联储已连续三次会议降息，将联邦基金利率目标区间降至了3.5%-3.75%——该区 间目前来看正符合官员们中性利率政策的立场预期，即既不刺激也不抑制经济增长。 来源：证券时报、智通财经 微信编辑| 雨林 第一财经持续追踪财经热点。若您掌握公司动态、行业趋势、金融事件等有价值的线索，欢迎提供。专 用邮箱：bianjibu@yicai.com （注：我们会对线索进行核实。您的隐私将严格保密。） 本文字数：548，阅读时长大约1分钟 当地时间1月28日下午2点（北京时间1月29日凌晨3点），美国联邦储备委员会将公布2026年首份利率决 议。 市场普遍预期，美联储将暂停此前连续三次的降息步伐，维持联邦基金利率目标区间在3.5%—3.75%不 变。本次会议的核心焦点已转向降息重启时点、政策声明措辞调整及政治因素对美联储决策独立性的影 响。 据芝加哥商品交易所（CME）"美联储观察"工具数据，当前市场预期美联储1月降息概率仅为2.8%，维 持利率不变的概率高达97.2%，多数交易员同时认为3月、4月会议降息可能性极低。这一预期与美联储 官员近期表态高度一致，纽约联储主席威廉姆斯、美 ...

Core Viewpoint - The Bank of Canada maintains the key interest rate at 2.25%, aligning with market expectations, while emphasizing heightened uncertainty in the economic outlook for 2026 [1] Group 1: Interest Rate Decision - The Bank of Canada has decided to keep the main interest rate unchanged at 2.25%, which is consistent with market predictions [1] - The central bank's decision reflects a cautious approach amid significant uncertainty regarding future economic conditions [1] Group 2: Economic Uncertainty - Governor Macklem highlighted the exceptionally high level of uncertainty regarding the economic outlook, mentioning it seven times during the press conference [1] - The official statement indicates that while the benchmark interest rate is deemed appropriate, the bank is closely monitoring risks due to increasing uncertainty [1] - In the previous December decision, the bank described uncertainty as "high," indicating a shift in the perception of economic risks [1]

专题：ATFX外汇专栏投稿 1月28日，今日22：45，加拿大央行将公布开年首份利率决议结果，23：30，加拿大央行行长麦克勒姆 和高级副行长罗杰斯召开货币政策新闻发布会。 金融机构预计，加拿大央行将在本次利率决议上维持2.25%的利率不变，形成连续两次按兵不动的格 局。麦克勒姆的讲话将成为关注焦点，尤其是讲话涉及通胀、就业和利率走向时。 ▲ATFX图 专题：ATFX外汇专栏投稿 1月28日，今日22：45，加拿大央行将公布开年首份利率决议结果，23：30，加拿大央行行长麦克勒姆 和高级副行长罗杰斯召开货币政策新闻发布会。 2022年7月份至今，加拿大的核心通胀经历了从急跌到平稳的过度，2024年年中至今的一年多时间里， 核心通胀保持在1.5~2.9%之间，围绕2%的温和标准上下波动。202年年中至今，加拿大的失业率从4.8% 升高至7.1%，远远超出5%的就业标准，劳动力市场有萎缩迹象。 通胀稳定而就业萎缩，这种局面与美国类似。为了刺激就业，加拿大央行开始不断降低基准利率。2024 年6月至今，加央行累计降息9次，幅度275基点，非常激进。最新数据看，经过激进降息后，加拿大的 通胀仍旧没有恶化，就业市场也没 ...

每经记者｜郑雨航 每经编辑｜何小桃 高涵 ① 【三大期指涨跌互现】道指期货跌0.02%、标普500指数期货涨0.30%、纳指期货涨0.77%。 ② 【阿斯麦涨超5%】阿斯麦盘前涨超5%。消息面上，该公司2025Q4净销售额和全年营收均创新高。 ③ 【德州仪器涨超7%】德州仪器盘前涨超7%。消息面上，该公司2025Q4财报显示，虽然整体营收略低于市场预期，但是其数据中心相关营收大涨70%。 ④ 【存储股普涨，希捷科技涨超10%】存储股盘前普涨，希捷科技涨超10%，西部数据涨超8%，闪迪涨超5%，美光科技涨超4%。 ⑤ 【美联储2026年首份利率决议即将出炉】北京时间周四凌晨3点，美联储即将公布2026年的首份利率决议。 目前市场普遍预期，美联储将在本周政策会议上维持利率不变，此前该机构已在2025下半年连续三次降息。因此，所有目光预计都将集中在美联储官员们 发出的关于计划维稳利率多久的信号上。 记者|郑雨航 编辑|何小桃 高涵 杜恒峰 校对|许绍航 ⑥ 【金价突破5300美元，黄金股走强】金价突破5300美元，今年以来累涨超20%；黄金股盘前走强，金罗斯黄金、巴里克黄金、纽蒙特矿业涨超1%。消 息面上，当前美元 ...

Core Viewpoint - Bitcoin is experiencing a slight increase as investors await the Federal Reserve's decision, with expectations that interest rates will remain unchanged and a focus on potential signals regarding future rate cuts [1] Group 1: Market Trends - Bitcoin has recovered slightly from a five-week low reached earlier in the week but remains within a recent trading range [1] - Analysts from Saxo Bank noted that the price movements indicate the market is digesting gains rather than accelerating upward [1] Group 2: Investor Sentiment - Stable prices and cautious capital flows suggest that investors are maintaining exposure while remaining sensitive to macro signals, particularly the upcoming Federal Reserve decision [1] - Current trends indicate that cryptocurrencies are likely to respond to changes in risk appetite among investors [1] Group 3: Price Movement - According to data from the London Stock Exchange Group, Bitcoin rose by 0.4% to $89,344 [1]

黄金方面： 美元指数： 1月28日的最新爆料，美国已向以色列通报了针对伊朗的军事行动准备情况，相关工作现已完成。倘若白宫下令打击伊朗，理论 上航母打击群可以在一两天内发起军事行动。 1月27日，美国总统特朗普表示，航母舰队一直在印度洋附近巡航，并着重强调最终是否发动打击将由他下达命令决定。白宫消 息人士透露，特朗普尚未做出最终决策，预计本周将展开磋商。 百利好特约智昇研究投资策略师麦东认为，美国在打击伊朗的问题上，仍有很大的变数，美军闪击伊朗的概率持续走高。在此 背景下，黄金避险情绪进一步放大，价格节节攀升。 技术面分析：昨日收阳线。日线级别，金价突破5200美元并在上方运行。1小时级别，价格在60/120日均线上方运行，延续强势 上涨态势，MACD显示多方力量强劲。今日下方关注5200美元的支撑，上方关注5350美元的压力。 原油方面： 近期原油市场对多重供应端的不确定性进行定价。近期的上涨除了对伊朗潜在供应中断的担忧，还有持续的乌克兰战争，尽管 双方开启和谈，但局势仍存在诸多不确定性。 同时，美国特大冬季风暴导致原油生产遭遇重创，上周末原油日产量最高减少200万桶，约占全国总产量的15%，可能会导致短 期 ...

1. Report Industry Investment Ratings - **Macro Finance**: Long - term bullish on stock indices, suggesting buying on dips; government bonds are expected to move in a range [1] - **Black Building Materials**: Short - term trading for coking coal, range trading for rebar, and waiting and seeing for glass [1] - **Non - ferrous Metals**: Waiting and seeing or holding long positions in small quantities for copper; strengthening observation for aluminum; waiting and seeing for nickel; range trading or taking profit on previous long positions for tin; range trading for gold; bullish movement for silver; range - bound oscillation for lithium carbonate [1] - **Energy and Chemicals**: Range trading for PVC, caustic soda and soda ash for the time being, range trading for styrene, rubber, urea, and methanol; weak oscillation for polyolefins [1] - **Cotton Textile Industry Chain**: Oscillatory adjustment for cotton and cotton yarn, oscillatory movement for apples and jujubes [1] - **Agriculture and Animal Husbandry**: Opportunities for short - selling on rebounds for hogs; hedging post - festival contracts on rallies for eggs; being cautious about chasing highs and waiting for rebounds to hedge for corn; bearish on rallies for soybean meal; bullish oscillation for three major oils [1] 2. Core Views of the Report The report provides trading suggestions for various futures products based on their current market conditions, including macro - economic factors, supply - demand relationships, and cost factors. It also emphasizes the importance of paying attention to policy changes, inventory levels, and external market factors [1][5][7] 3. Summaries According to Relevant Catalogs Macro Finance - **Stock Indices**: Medium - to long - term bullish, suggesting buying on dips. Market is volatile due to factors such as the Fed's interest - rate decision, China's industrial profit data, and consumer spending intentions [5] - **Government Bonds**: Expected to move in a range. There is no significant negative news in the bond market, but there is limited downward space for bond yields without more capital inflows [5] Black Building Materials - **Coking Coal**: Short - term trading. The coal market shows short - term fluctuations, but the price increase may not be sustainable due to factors like weak downstream demand and stable supply [7] - **Rebar**: Range trading. The futures price is slightly higher than the valley - electricity cost of electric furnaces and lower than the flat - electricity cost. There is no significant supply - demand contradiction in the short term [7] - **Glass**: Waiting and seeing. The supply is stable, the market speculative demand is weak, and the downstream inventory is high. The price is expected to oscillate between 1050 - 1070 [8] Non - ferrous Metals - **Copper**: High - level oscillation. Macro factors provide support, but the fundamentals are weak. It is recommended to wait and see or hold long positions in small quantities, and beware of the risk of a pullback before the Spring Festival [9] - **Aluminum**: High - level oscillation. The supply of bauxite and alumina is relatively stable, and the demand is entering the off - season. It is recommended to strengthen observation [11] - **Nickel**: Oscillatory movement. The reduction of Indonesian nickel ore quotas has boosted the price, but the fundamentals are weak. It is recommended to wait and see [13] - **Tin**: Oscillatory movement. The supply of tin concentrate is tight, and the downstream demand is mainly for rigid procurement. It is recommended for range trading or taking profit on previous long positions [13] - **Silver**: Bullish movement. Geopolitical tensions and changes in the Fed's leadership expectations have pushed up the price. It is recommended to hold long positions and be cautious about new positions [15] - **Gold**: Range trading. Similar to silver, geopolitical and Fed - related factors have led to a higher price center. It is recommended for range trading and be cautious about chasing highs [15] - **Lithium Carbonate**: Range - bound oscillation. The supply is affected by mine production, and the demand from the energy - storage terminal is good. The price is expected to be bullish [17] Energy and Chemicals - **PVC**: The bottom may have been reached. The supply is high, the demand is weak, but the valuation is low. It is recommended for long - term low - buying and positive spread trading [17] - **Caustic Soda**: Low - level oscillation. The demand is weak, and the supply pressure is high. It is recommended to wait and see [19] - **Styrene**: Oscillatory movement. The price has rebounded due to export growth and device maintenance, but the valuation is high. It is recommended to be cautious about chasing highs [19] - **Rubber**: Oscillatory movement. The supply is shrinking, but the inventory pressure remains. The price is in a state of multi - empty tug - of - war [20] - **Urea**: Oscillatory movement. The supply is increasing, the demand from compound fertilizers is rising, and the inventory is at a low level. The price is expected to oscillate between 1730 - 1830 [21] - **Methanol**: Oscillatory movement. The supply is decreasing, the demand from methanol - to - olefins is weakening, and the traditional downstream demand is also weak [23] - **Polyolefins**: Weak oscillation. The supply is increasing, the demand from PE downstream is declining, and the price is expected to be weak with limited upside [24] - **Soda Ash**: Waiting and seeing. The supply is in excess, but the cost support is strong. It is recommended to leave the market temporarily [24] Cotton Textile Industry Chain - **Cotton and Cotton Yarn**: Oscillatory adjustment. The global cotton supply - demand situation has changed, and the internal - external price difference has put pressure on the domestic market. It is recommended to be cautious in the short term and optimistic in the long term [24] - **Apples**: Oscillatory movement. The packaging and shipping in the production areas have accelerated slightly, but the overall market is still weak [26] - **Jujubes**: Oscillatory movement. The purchase price of Xinjiang gray jujubes in the 2025 production season is in a certain range, and the acquisition is based on quality [26] Agriculture and Animal Husbandry - **Hogs**: Bottom - building oscillation. In the short term, the price is restricted by supply - demand game. It is recommended to short on rebounds for off - season contracts. In the long term, be cautious about being bullish due to high - level production capacity and cost reduction [28] - **Eggs**: Rebound from a low level. The current valuation is high, and it is recommended to hedge post - festival contracts on rallies. Also, consider hedging the 05 and 06 contracts due to the possible post - poned supply pressure [30] - **Corn**: Limited upside. In the short term, the supply - demand is balanced, and it is recommended to be cautious about chasing highs. In the long term, the supply - demand situation is relatively loose, restricting the price increase [32] - **Soybean Meal**: Low - level oscillation. The short - term support for the M2603 contract is at 3000 - 3030, and the pressure for the far - month 05 contract is at 2800 - 2850. It is recommended to be bearish on rallies [32] - **Oils**: Bullish oscillation. The three major oils are expected to move strongly. It is recommended to buy on dips and hold previous long positions [38]

Core Viewpoint - The article discusses the decline of the US dollar against major currencies, attributed to market concerns over the unpredictability of the Trump administration's policies, despite Trump's claims of the dollar's strong performance [1][3]. Group 1: Dollar Performance - The dollar index fell to its lowest level since February 2022, reaching 95.566, following Trump's comments [3]. - The dollar has depreciated over 9% since 2017, marking its worst annual performance, with significant declines against the euro, pound, and Swiss franc [3][5]. - The dollar experienced its largest three-day drop since April of the previous year, influenced by various factors including government spending and market volatility [3][5]. Group 2: Market Reactions - Traders are closely monitoring potential joint currency interventions by the US and Japan, as well as the upcoming Federal Reserve interest rate decision [3][7]. - The market is experiencing heightened volatility, with indicators remaining high and a weak sentiment in the bond market, particularly concerning Japanese government bonds [5][7]. - Analysts suggest that the threat of a government shutdown may further depress the dollar, prompting investors to reconsider their exposure to US assets [5]. Group 3: Global Economic Context - The article highlights that the global stock market has seen significant gains, with the S&P 500 underperforming compared to other markets since Trump's inauguration, indicating a shift in investment preferences [6]. - The potential appointment of a new Federal Reserve chair who supports lower interest rates could exacerbate the dollar's weakness [6]. - The geopolitical nature of current US policies is seen as a departure from previous economic measures, contributing to increased concerns over dollar exposure [7].