Group 1 - The core viewpoint of the articles highlights the increasing pressure on the Federal Reserve to lower interest rates, driven by President Trump's calls for significant rate cuts, which could impact the strength of the US dollar [2] - Market expectations for a rate cut in September have surged, with the CME FedWatch tool indicating a 68% probability, suggesting that continued pressure from Trump could lead to more liquidity easing, directly affecting the dollar's value [2] - The overnight reverse repo scale has dropped to $435 billion as of July 25, raising concerns about short-term liquidity and the potential for the Fed to halt its balance sheet reduction, which would increase dollar liquidity in the market [2] Group 2 - The Bloomberg Dollar Index is approaching a critical support level of 107.5 as of July 26, and a breach of this level could trigger accelerated programmatic selling [2] - The articles emphasize the importance of monitoring US Treasury yields, particularly the 2-year yield, as rising rate cut expectations could lower these yields, creating a compounded negative effect on the dollar [3] - The current SOFR rate stands at 5.32%, and any significant movements in this rate could signal tightening in the interbank funding market, potentially forcing the Fed to act sooner [3]

Core Viewpoint - The article discusses the recent decline in gold prices and the potential for further downward movement due to inflation risks highlighted by Powell and the loss of key technical support levels [1] Group 1: Market Trends - Gold prices are experiencing a continued pullback, raising questions about the short-term trend and potential for a significant drop [1] - The article suggests that the timing for a substantial decline in gold may be approaching, influenced by external economic factors [1] Group 2: Economic Indicators - Powell's warning regarding inflation risks is a critical factor affecting market sentiment and gold prices [1] - The loss of key technical support levels in gold trading is noted as a significant development that could lead to further price declines [1]