Core Viewpoint - The article discusses the current state of the US dollar index and the implications of recent employment data on Federal Reserve interest rate decisions, highlighting a strong market expectation for a rate cut in September. Group 1: Economic Indicators - The US dollar index is currently priced at 98.49, with a slight decline of 0.01% from an opening price of 98.51 [1] - There is a 90% probability that the Federal Reserve will cut rates by 25 basis points in September due to weak employment data [1] - The ISM services price index is showing signs of increasing inflation pressure, which could challenge the prevailing view of an assured rate cut [1] Group 2: Market Reactions - The recent rebound of the dollar index from a low of 96.3729 to a resistance level of 100.2599 indicates a potential false breakout [1] - The dollar index has moved upward within a short-term consolidation range of 98.00 to 99.00 but has not yet broken through the upper resistance of this range [1] Group 3: Future Outlook - The upcoming Consumer Price Index (CPI) report will be crucial; if inflation data exceeds expectations, the market may reassess its rate cut predictions [1] - The nomination of Milan to the Federal Reserve Board may further bolster the dovish sentiment in the market [1]

Group 1 - The core viewpoint of the article indicates that there is a significant resistance level for spot gold around $3365, with a notable imbalance in order flow suggesting that bears dominate this area [1] - The order flow analysis reveals that major sell orders are concentrated between $3364 and $3366, highlighting the importance of breaking through this resistance for further upward movement in gold prices [1] - Caution is advised ahead of the upcoming release of the U.S. Consumer Price Index (CPI), as it may impact market dynamics [1]

Core Viewpoint - Gold prices are currently in a range-bound fluctuation as the market awaits the upcoming U.S. Consumer Price Index (CPI) report next Tuesday [1] Group 1: Market Dynamics - Recent non-farm payroll data has suppressed further increases in gold prices, as the market has re-priced hawkish expectations regarding interest rates, putting pressure on the precious metal [1] - A weak CPI report could provide a boost to gold prices, while a strong performance may trigger a new wave of selling [1] Group 2: Macroeconomic Perspective - From a broader perspective, gold is expected to maintain an upward trend due to the backdrop of the Federal Reserve's easing policies, which may lead to a continued decline in real yields [1] - However, short-term hawkish re-pricing of rate cut expectations could lead to a pullback in gold prices [1]

Core Viewpoint - Following the release of the U.S. Consumer Price Index (CPI) data, traders have increased their bets on the Federal Reserve starting to cut interest rates in September [1] Group 1 - The U.S. CPI data has influenced market expectations regarding interest rate cuts by the Federal Reserve [1]