近期，美联储官员的表态再次让市场对"降息时间表"产生分歧。芝加哥联储主席指出，在看到通胀真正回落至 2% 之前，不宜贸然降息，而最新核心 PCE 同比仍在 3% 左右，显著高于目标水平。对于刚接触市场的投资者来说，这正是一次典型的外汇交易入门学习场景。 阿萨交易学社认为，宏观数据、货币政策预期与黄金价格之间的逻辑链条如何一步步传导，是理解当前行情的关键。 黄金本身不产生利息收益，因此利率环境对其定价影响巨大。阿萨交易学社分析师 Zero 指出，如果降息推迟，实际利率可能保持在较高水平，这会显著提 升持有黄金的机会成本，资金更倾向于流向高收益的债券或存款。 此外，高利率预期的维持会支撑美元指数走强，从计价货币的角度直接压制金价。这是 外汇交易入门学习 中常见的逻辑链条：利率维持高位往往利好美 元，而对黄金形成阶段性利空。 三、政策不确定性与避险情绪的对冲 除了通胀数据，关税政策带来的不确定性也让黄金处于"利空与利多并存"的复杂环境。一方面，高利率环境对黄金构成压力；另一方面，贸易政策的反复会 增加市场对经济前景的担忧，从而提升避险买盘的需求。 一、为什么 PCE 数据是汇市与金市的定价中枢？ 在 外汇交易入门学 ...

Group 1 - The non-farm payroll report reflects the real state of the economy and the policy direction, acting as a mirror rather than just a "market amplifier" [1] - The January non-farm data shows a strong monthly performance with 130,000 new jobs and a drop in the unemployment rate to 4.3%, but the annual benchmark revision significantly lowers the 2025 employment growth forecast from 584,000 to 181,000, indicating a weaker labor market than previously reported [4] - The contradiction of strong monthly data against a backdrop of long-term weakness highlights the need for investors to understand the cautious hiring trends and the overall economic context [4] Group 2 - The strong monthly job growth has led to a delay in interest rate cuts, pushing the first expected cut from June to July, as the labor market shows no significant deterioration [6] - This shift in interest rate expectations has resulted in rising U.S. Treasury yields and a temporary strengthening of the dollar, while gold prices are under pressure due to the high real interest rates [6] - Despite the short-term pressure on gold, there remains significant anticipation for future policy shifts, as the underlying vulnerabilities exposed by the annual revision persist [6] Group 3 - In a volatile macroeconomic environment, investors need to establish a systematic cognitive framework for asset allocation and risk hedging, rather than relying solely on simplistic relationships between interest rates and asset prices [8] - Gold is positioned as a risk hedging tool within asset allocation, suitable for mitigating long-term currency credit risks and balancing portfolio volatility before policy shifts occur [8] - The non-farm report conveys dual signals of strength and revision, widening the divergence in interest rate paths, emphasizing the importance of understanding the underlying logic rather than merely predicting market direction [9]

Sweden's EU membership entails monthly contributions to the EU's budget. These payments are made in Swedish kronor by the Swedish government and exchanged into euro in the foreign exchange market by a recipient central bank within the EU. The Riksbank has decided to exchange an EU payment in February 2026. The total amount is SEK 5 764 million. The Riksbank has on previous occasions exchanged EU payments to avoid unnecessarily large fluctuations in the exchange rate in connection with these transactions. Th ...

31 January 2026 | 5:28AM GMT Economics Research GLOBAL FX TRADER Dollar's Cold Open Our thoughts on USD, CNY, JPY, Scandi FX, AUD & NZD, BRL,Trading Terms of Trade, and FX Manipulation n USD: Feels like old times. We expect the Dollar to fall modestly this year, as strong but less exceptional US performance should weigh on the currency. But the Dollar's recent decline has been anything but modest. We attribute the majority of that performance over the course of January to volatility in trade and currency po ...

Core Viewpoint - The company, SanTai Co., Ltd. (301558), is a technology-driven enterprise focused on cross-border e-commerce retail and third-party logistics, actively engaging in various payment methods for international transactions [1] Group 1: Company Overview - SanTai Co., Ltd. specializes in cross-border e-commerce, providing comprehensive services in retail and logistics [1] - The company utilizes specific payment methods based on the overseas business model, indicating a flexible approach to payment solutions [1] Group 2: Payment Strategies - The company employs third-party payment institutions such as LianLian and WanLiHui for settling procurement payments [1]

Core Viewpoint - The South Korean won opened at 1,450 KRW per USD, showing a depreciation from the previous closing price of 1,443.9 KRW per USD [1] Group 1 - The onshore trading of the Korean won indicates a weakening trend against the US dollar, with a notable increase in the exchange rate [1]

每日经济新闻 （责任编辑：王治强 HF013） 每经AI快讯，1月27日开盘后，韩元兑美元下跌0.7%。 【风险提示】根据外汇管理相关规定，买卖外汇应在银行等国家规定的交易场所进行。私自买卖外汇、 变相买卖外汇、倒买倒卖外汇或者非法介绍买卖外汇数额较大的，由外汇管理机关依法予以行政处罚； 构成犯罪的，依法追究刑事责任。 ...

价格没有出现反转信号前看空 美元兑日元（USDJPY） 短线分水岭157.40区域，价格没有出现反转信号前看空 日内短线关注156.50-60区域空 1月26日，美元指数 月线（长线空） 阻力：101.70 周线（中线空） 阻力：98.80 日线（波段空） 阻力：98.70 四小时（短期） 短线关键分水岭98-98.20区域，日内依托此区域看承压 美元兑加元（USDCAD） 月线（长线多） 支撑：151 周线（中线空） 支撑：155.90 日线（波段空） 支撑：157.60 四小时（短期） 关键分水岭1.3750-60区域，价格没有出现反转信号前看空 日内短线关注1.3750-60区间空 美元兑瑞士法郎（USDCHF） 关键分水岭0.7840-50区域，价格没有出现反转信号前看空 日内短线关注0.7840-50区间空 欧元兑美元（EURUSD） 月线（长线多） 支撑：1.1270 月线（长线空） 阻力：1.3990 周线（中线空） 阻力：1.3870 日线（波段空） 阻力：1.3840 四小时（短期） 月线（长线空） 阻力：0.8320 周线（周线空） 阻力：0.7990 日线（波段空） 阻力：0.7850 ...

Core Insights - The Bank of Korea reported that the average daily foreign exchange trading volume in the banking sector is expected to reach a historical high in 2025, primarily driven by increased cross-border stock trading [1][3] - In the previous year, the average daily foreign exchange trading volume, including derivatives, reached $80.71 billion, a 17% increase from $68.96 billion the previous year, marking the highest annual level since the Bank of Korea began compiling such data in 2008 [1][3] - A Bank of Korea official noted that extended trading hours in the foreign exchange market have significantly boosted stock-related transactions by residents and foreign investors [1][3] Foreign Exchange Trading Details - The average daily spot foreign exchange trading volume increased by 26.1% year-on-year, reaching $32.38 billion, while the average daily foreign exchange derivatives trading volume grew by 11.6% to $48.33 billion [1][3] - In the first 11 months of the previous year, the total overseas stock investment by South Korean residents amounted to $129.4 billion, surpassing the total for the entire year of 2024, which was $72.2 billion [1][3] Foreign Investment in Korean Stocks - Foreign investors' investments in Korean stocks are projected to increase by 129% in 2025, reaching $50.4 billion [2][3]

但这些数据有力地证明，尽管特朗普上任一年来引发了市场波动和政策混乱，美元在国际金融和贸易中 的地位依然稳固。美元在全球支付中所占份额上一次超过50%是在2025年1月。与此同时，美元价值指 数在过去一年中已下跌超过7%。 国际清算银行的独立数据显示，截至 2025 年 4 月，89% 的外汇交易至少有一方使用美元，而美联储估 计，约 60% 的外币债务以美元发行。 SWIFT的交易数据显示，美元交易量会因季节性因素和支付活动的短期波动而出现月度波动。去年12 月，美元交易量的增长主要源于欧元支付量的下降，欧元支付量占比跌至21.9%，为一年来的最低水 平。12月，SWIFT交易中约有2.7%涉及人民币，低于过去一年的平均水平。 摩根大通策略师Luis Oganes等人在本周的一份报告中写道："美元继续主导外汇交易和国际货币使用。 与此同时，各大央行持续增持黄金储备，黄金在2025年到期储备资产中所占比例越来越高。" 全球大型银行使用SWIFT进行彼此沟通并促进银行间货币交易。根据SWIFT去年发布的最新年度报告， 2024年通过SWIFT发送的交易指令约为134亿条，高于前一年的119亿条。SWIFT的数据并 ...