Group 1 - The core focus of the global macro market this week includes the Federal Reserve's interest rate decision and the U.S. December PPI data [1] - On January 28, the Bank of Canada will announce its interest rate decision along with a monetary policy report [1] - The Federal Open Market Committee (FOMC) will release the January interest rate decision on January 29 at 3 AM, followed by the initial jobless claims data for the week ending January 24 later that evening [1] Group 2 - Recent macro data from the U.S. shows that the overall PCE price index for November increased by 2.8% year-on-year, aligning with market expectations [1] - For the week ending January 17, initial jobless claims recorded 200,000, which is below the market expectation of 210,000, with the previous value revised from 198,000 to 199,000 [1] - The final annualized quarterly GDP growth rate for Q3 reached 4.4%, exceeding the prior market expectation of 4.3% [1] - The final annualized quarterly core PCE price index for Q3 was 2.9%, matching market expectations [1]

Core Viewpoint - Silver prices experienced a decline of over 1.00% to $57.76 per ounce due to profit-taking by traders ahead of key U.S. economic data releases, including ADP employment changes and ISM services PMI data [1] Group 1: Market Dynamics - Following a steady rise on Monday, silver prices retreated as market participants reduced exposure before several key U.S. macroeconomic data releases [2] - A mild recovery in the U.S. dollar and rising U.S. Treasury yields exerted pressure on the precious metals market, a pattern previously observed during risk-off sentiment [1] - Despite the pullback, silver continues to benefit from a broadly supportive macro environment, limiting downside potential [1] Group 2: Economic Indicators - Traders are focusing on key indicators that may influence Federal Reserve expectations, with the ISM services PMI and ADP employment data set to be released on Wednesday, followed by the preferred inflation indicator, Personal Consumption Expenditures (PCE), on Friday [2] - Weak economic data is expected to strengthen bets on interest rate cuts, which typically benefits silver [2] Group 3: Geopolitical Factors - Geopolitical uncertainties, particularly surrounding the Russia-Ukraine situation, continue to drive safe-haven demand, maintaining a degree of risk aversion despite a temporary halt in silver's bullish momentum [2] Group 4: Technical Analysis - On Tuesday, silver closed with a hammer candlestick pattern, approaching previous highs and hovering near the upper Bollinger band on the daily chart [3] - Short-term expectations indicate that silver may continue to test upward towards $59, with support levels at $58.10 or $57.70 and resistance levels at $59.00 or $59.70 [3]

Core Viewpoint - The foreign exchange market is experiencing significant volatility, with a focus on upcoming U.S. macroeconomic data releases, including retail sales, producer price index, consumer confidence index, and private sector employment report [1][3]. Group 1: U.S. Economic Data - Key U.S. macroeconomic data to be released includes September retail sales and producer price index, November consumer confidence index, and weekly private sector employment report [1]. - The market is awaiting these data releases, which are expected to influence trading decisions [3]. Group 2: Currency Movements - The U.S. dollar remains stable against major currencies, with the dollar index hovering above 100.00 after a flat close on Monday [3]. - Despite a rise in risk appetite and increased expectations for a Federal Reserve rate cut in December, the dollar is not showing significant weakness as investors await data [3]. - The New Zealand dollar is under pressure, trading near 0.5600, with expectations of a 25 basis point rate cut by the Reserve Bank of New Zealand [3]. - The euro is trading in a sideways pattern above 1.1500, with the European Central Bank set to release a financial stability assessment report [3]. - The British pound is also trading narrowly around 1.3100, with investors closely monitoring the upcoming autumn budget announcement [3]. Group 3: Market Reactions - The Nasdaq Composite Index rose by 2.6% on Monday, contributing to a strong close for major U.S. stock indices, although U.S. stock futures saw a slight decline of about 0.1% in the European morning session [3]. - Gold prices were boosted by dovish comments from the Federal Reserve, closing above $4100 with a daily increase of over 1.5% [3]. - XAU/USD is maintaining a volatile pattern, facing slight pressure below $4150 during the European session [3].