Core Viewpoint - The Federal Reserve Chairman Jerome Powell anticipates that the overall Personal Consumption Expenditures (PCE) price index will increase by 2.5% year-over-year in June [1] Group 1 - The expected increase in the PCE price index indicates ongoing inflationary pressures in the economy [1] - The 2.5% year-over-year rise reflects the Fed's focus on monitoring inflation trends as part of its monetary policy strategy [1]

Group 1 - The core viewpoint indicates that despite rising calls for interest rate cuts from President Trump and speculation about the potential firing of Federal Reserve Chairman Powell, the Fed's policy rate outlook remains largely unchanged due to increasing inflation pressures [2] - The Federal Reserve is expected to maintain the benchmark interest rate in the range of 4.25%-4.50% during the upcoming meeting on July 29-30, as inflation data shows a rise in the Consumer Price Index (CPI) from 2.4% to 2.7% in June [2] - The trend of declining commodity prices is reversing, contributing to overall inflation and suggesting that businesses may be passing some costs onto consumers [2] Group 2 - Atlanta Fed President Bostic noted that inflation may be at a "turning point," with nearly half of the goods experiencing annualized price increases of 5% or more, double the rate from January [2] - Fed officials project that the Personal Consumption Expenditures (PCE) price index will rise by 3% by the end of the year, but they only anticipate a 0.5 percentage point rate cut, which is significantly less than market expectations [2] - There is a general consensus among Fed officials against aggressive rate cuts, maintaining a cautious stance amid ongoing inflationary pressures [2] Group 3 - The US dollar index is facing key resistance in the 97.80-98.00 range, which coincides with recent highs and the upper boundary of a descending wedge pattern, creating multiple technical pressure points [3] - Momentum indicators show mild bullish signals, with the Relative Strength Index (RSI) recovering to near the neutral zone of 50, indicating a restoration of market momentum, though it has not yet reached overbought conditions [3]

6月27日晚间，国际贵金属突然猛烈跳水！ 黄金、铂金双双大跌。截至20:36， 伦敦金现货价格跌1.69%至3271美元/盎司，一日大跌超50美元 ； COMEX黄金期货价格跌至3289美元/盎司，二者均触及近四周以来新低， 现货铂金跌幅更猛烈，截至 20:36，跌幅超6%，报1329美元/盎司。 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes END 消息面上，据最新消息，美国商务部长卢特尼克当地时间26日透露，白宫计划很快与10个主要贸易伙伴达成 协议。虽然卢特尼克没有具体说明哪些国家或地区在首批贸易协定之列，但当天早些时候，美国总统特朗普表 示，美国即将与印度达成协议。 备受美联储青睐的通胀指标——个人消费支出（PCE）物价指数表现略超预期。美国商务部公布数据显示： 美国5月PCE指数同比增长2.3%，预期2.3%；美国5月核心PCE指数同比增长2.68%，预期2.6%，创2025年 2月以来新高。 责编：叶舒筠 校对：王蔚 版权声明 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 | < W | | COME ...

Core Insights - The Producer Price Index (PPI) in the U.S. for May showed a modest increase, with core PPI reaching its lowest level since August 2024, indicating that tariffs have not significantly pressured consumer and business prices [1][3] Group 1: PPI Overview - The PPI rose by only 0.1% month-over-month in May, below economists' expectations of 0.2%. Core PPI also increased by 0.1%, with goods prices (excluding food and energy) rising by 0.2% and service prices by 0.1% [3][5] - The report reflects a continuation of the mild performance seen in the Consumer Price Index (CPI) over the past four months, suggesting that the impact of tariff increases on the American public has been relatively subdued so far [3][5] Group 2: Profit Margins and Price Trends - Wholesale and retail profit margins expanded in May, particularly in the vehicle and machinery wholesale sectors, following a contraction in April. This indicates that businesses are absorbing tariff costs without passing them on to consumers [3][5] - Food prices saw a slight increase of 0.1% after two months of decline, while energy costs remained stable. Intermediate demand processing goods costs showed minimal increases, and raw goods prices have declined for three consecutive months [5][6] Group 3: Specific Price Changes - The final demand services index rose by 0.1% in May, rebounding from a 0.4% decline in April, primarily due to a 0.4% increase in trade service profit margins. Notable increases were seen in mechanical and vehicle wholesale profit margins, which surged by 2.9% [5][6] - In the final demand goods category, prices increased by 0.2% in May, with tobacco products rising by 0.9%. Conversely, airline fuel prices dropped by 8.2% [5][6] Group 4: Market Reactions - Following the PPI report, traders fully priced in the scenario of two interest rate cuts by the Federal Reserve within the year [9] - The dollar index fell approximately 20 points to 97.70, while U.S. stock futures saw a slight uptick, with the Nasdaq 100 futures narrowing their decline to 0.5% [10][11]