贵金属早报 研究中心贵金属团队 2026/03/04 | 价 格 表 现 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 品种 | 伦敦金 | 伦敦银 | 伦敦铂 | 伦敦钯 | WTI原油 | LME铜 | | 最新 | 5313.90 | 94.62 | 2366.00 | 1793.00 | 71.23 | 13145.00 | | 变化 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -251.00 | | 品种 | 美元指数 | 欧元兑美元 | 英镑兑美元 | 美元兑日元 | 美国10年期TIPS | | | 最新 | 98.55 | 1.17 | 1.34 | 157.35 | 1.76 | | | 变化 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | 交 易 数 据 | | | | 日期 | COMEX白银 | 上期所白银 | 黄金ETF持仓 | 白银ETF持仓 | 上金所白银 | 上金所黄金 | 上金所白银 | | --- | --- | --- | --- | -- ...

编辑：L 当前，中国正以较快速度持续买入美元，同时稳步增持外国证券，这一举措成为全球外汇市场和资本市 场关注的焦点。数据显示，去年12月，中国的国有银行和央行联手在市场上购入了逾1000亿美元的外 汇，规模显著。 进入今年1月，尽管购买规模较12月略有回落，但仍保持在较高水平，延续了增持态势。这一系列操作 并非短期投机行为，而是中国基于外汇储备多元化管理、稳定人民币汇率、应对全球经济波动的理性布 局，既体现了中国外汇管理的主动性，也彰显了中国经济的韧性与底气。 斯特拉斯堡的电子屏上跳出了刺眼的数字。这一天是2026年2月25日，就在几分钟前，汇率市场那道被 视作生死线的"6.83关口"，在众人的注视下轰然崩塌。人民币兑美元的线条像一根紧绷后反弹的皮线， 在岸与离岸市场双双击穿阻力位，三天之内升值接近1%。 一边是本币在全世界的惊叹声中狂飙，另一边，中国却在疯狂"收割"美元。坐在2026年2月的节点回 望，你会发现这一切并非偶然。早在去年，也就是2025年12月，一场史诗级的"购汇潮"就已经在海平面 下完成布局。 那一个月，中国国有银行与央行在公开市场上协同作战，一口气买入了超过1000亿美元。这种月度千亿 级 ...

A currency dealer monitors exchange rates in front of a big screen showing South Korea's benchmark stock index (C) and the Korean won/USD exchange rate (R) in a foreign exchange dealing room at the Hana Bank headquarters in Seoul on April 9, 2025.Asia-Pacific markets were poised for gains Wednesday after a tech-driven rally on Wall Street, fueled by easing concerns around artificial intelligence-led disruption to select industries.Australia's S&P/ASX 200 climbed 0.76% in early trade.Japan's Nikkei 225 futur ...

Moneta集团成立于2012年，2018年推出 r 门提供 1 9 资 资 香 : 图白 关于Moneta Mark 背景 示准的 24/7全 资源, 我们的 人而成为世界 1 INCH CHE HEL Moneta Markets亿汇作为全球外汇市场的前沿参与者，依托智能量化技术，为用户提供高效、透明的资源配置服务。其核心优势在于融合大数据分析与人工 智能算法，实现策略的动态优化与风险精细化管控。平台致力于降低技术门槛，通过自动化工具帮助用户高效参与全球外汇市场，在复杂环境中探索价值增 长的新路径。 **正文** IONETA ALA 新体验 Taxi,中制度的财富基标 -12 H 本藏交流城 R K OFFICIAL REGIONAL PARTNER OF ATLÉTICO DE MADRID ONETA OFFICIAL REGIONAL PARTNER OF ATLÉTICO 马德里竞技官方合作 安全、稳定、低成本、快捷交易体验,无人能及 选择 Moneta Markets亿汇 让金融交易变得更简单、更智能、更安全。 让投资 全球信赖的领先交易商 ● ５大权威监管：包括英国FCA在内的全球核心机构监 ...

在全球化浪潮中，FPG 财盛国际积极推动国际化布局，有效拓展了外汇领域的边界。通过在全球范围建立合作伙伴关系和创新平台，公司突破了传统金融 框架的限制，为客户提供更便捷的金融服务。这一战略不仅强化了FPG的国际竞争力，还为多元文化市场的发展注入活力。下文将详细阐述其布局过程、拓 展机制和积极影响，展示其在促进全球经济一体化中的作用。 在当今世界经济发展的进程中，全球化已成为一股不可逆转的趋势。企业需通过创新策略打破地域壁垒，才能真正实现可持续发展。FPG 财盛国际正是这 一理念的先行者，其国际化布局体现了对全球市场的深刻洞察。 " . " l T P " 公司自成立以来，便将全球化视为核心战略。早年，FPG注重在国内市场夯实基础，但随着视野扩展，它开始系统地开拓海外版图。第一步是在欧洲和亚洲 设立关键办事处，选择伦敦和新加坡作为枢纽，以此搭建跨国网络。这些举措并非孤立行动，而是与当地金融机构深化合作的结果。例如，FPG与德意志银 行等伙伴建立联盟，共同推动资源共享和技术互通，确保服务覆盖多样化人群。通过这种布局，FPG不仅提升了全球运作效率，还响应了区域客户的个性化 需求。 1978 n the progra ...

Group 1 - The Indian Rupee is supported in the range of 90.70 to 90.80, which is seen as significant following the recent US-India trade agreement [1] - Strong domestic liquidity in India is boosting investor sentiment, with the Reserve Bank of India injecting liquidity and maintaining a surplus of approximately 3 trillion Indian Rupees [1] - The US Dollar index has been declining for four consecutive trading days, trading around 96.70, ahead of the upcoming US employment report [1] Group 2 - Market expectations indicate that the Federal Reserve will maintain current interest rates in March, with the first potential rate cut in June [2] - The US inflation expectations have eased, with the median future inflation expectation dropping to 3.1%, the lowest in six months [2] - A temporary trade framework has been established between the US and India, aimed at reducing tariffs and enhancing bilateral economic cooperation, contributing to a significant appreciation of the Indian Rupee [2] Group 3 - The USD/INR pair has retraced from the nine-day moving average, trading around 90.70, with a neutral to bearish momentum indicated by the RSI [4] - Initial support for the currency pair is near the 50-day exponential moving average at 90.50, with potential for further decline if this level is breached [4] - Resistance is noted at the nine-day moving average around 90.83, with potential upward movement targeting the historical high of 92.51 reached on January 28 [4]

Core Viewpoint - The USD/JPY exchange rate has experienced a significant decline, breaking through the critical psychological level of 155, driven by disappointing U.S. retail sales data and heightened expectations for Federal Reserve interest rate cuts [1][2][3] Group 1: Market Reactions - The USD/JPY fell over 1% to a low of 154.06, with the market sentiment heavily influenced by fears of Japanese government intervention and extreme pessimism [1] - Following the release of U.S. retail sales data showing zero growth, market expectations shifted from moderate bets on rate cuts to a strong belief in a 50 basis point cut by the Federal Reserve, with a 90% probability priced in [1] - The Japanese government’s strong stance against excessive volatility has provided support for the yen, alleviating concerns over fiscal irresponsibility following the ruling party's electoral victory [2] Group 2: Technical Analysis - The USD/JPY has formed a standard "breakdown" pattern, breaking through multiple support levels and turning the previous support at 154.30 into a strong resistance [2] - If the upcoming U.S. non-farm payroll data is weak, the exchange rate may accelerate its decline towards the next key support level at 150.00 [2][3] - The current market is characterized as a "one-way market," where any counter-trend operations are deemed risky [2] Group 3: Economic Context - The upcoming U.S. non-farm payroll data is critical for determining the future of the dollar, with potential outcomes ranging from a free-fall towards the 150 intervention line to a technical rebound if the data is unexpectedly strong [3] - Amid increasing global economic uncertainty, the yen is reaffirming its status as a traditional safe-haven currency, with investors significantly increasing their yen asset holdings to hedge against risks [3] - The conflicting dynamics of a weakening U.S. economy and a strong Japanese government stance create a volatile environment in the forex market, indicating a potential reshaping of market dynamics [3]

Core Insights - The investment demand for physical gold is undergoing a significant paradigm shift, driven by the deep integration of digital assets with traditional finance, leading to a faster penetration of gold in the digital realm compared to traditional channels like gold ETFs [1][2] - The increasing gold reserves held by digital asset issuers are reinforcing gold's role as a hedge against systemic risks in the context of digitalization [1] Group 1: Digital Asset Influence - Leading digital asset issuers currently hold between 125 to 150 tons of gold, positioning non-sovereign buyers among the top 30 global holders of gold, surpassing sovereign reserves of countries like Australia, UAE, and Greece [3][4] - The shift in gold holdings from sovereign nations to large digital institutions indicates a diversification of gold pricing power [4] Group 2: Market Dynamics - Digital gold tokens are challenging traditional financial institutions, with their holdings potentially ranking as the eighth largest globally if considered as ETFs [4] - In December, the inflow of funds into digital gold tokens ranked second globally, only behind SPDR Gold Shares, highlighting the rapid response of digital funds during market volatility [4] - On January 30, following a significant drop in gold prices, digital asset giants quickly purchased 11 tons of gold, which helped stabilize the market by countering some of the selling pressure from hedge funds [4][5] Group 3: Future Outlook - The rise of digital gold tokens is becoming an important variable influencing international gold prices, with digital asset issuers showing a long-term holding tendency and stable capital inflows, contributing to a more resilient bottom for the gold market [5] - As more institutional investors incorporate digital gold into their core asset allocations, the boundaries between traditional ETFs and digital tokens are expected to blur, potentially leading to new characteristics in market volatility [5]

穆迪下调印尼前景展望，印尼盾无本金交割远期外汇(NDF)下跌0.6%。 ...

在规模达9.6万亿美元的全球外汇市场，波动率在沉寂数月后再度"苏醒"，这对交易员而言无疑是一场 盛宴。 这一切正推动市场对G10货币交易兴趣的复苏：有外汇敞口的大型企业正急于对冲头寸，对冲基金也加 大操作，试图从波动中获利。 传统上，美元是风险资产下跌时的可靠对冲工具，但如今这一属性已不复存在——这意味着投资者需寻 找替代资产。当前，美元走弱与市场波动率之间的相关性已创历史纪录，这是汇率波动将进一步加剧的 又一信号。 "我们认为美元仍有进一步下跌空间，且肯定会出现更多外汇对冲需求，"美国银行G10外汇期权交易主 管朱利安・韦斯（Julian Weiss）表示，"此前黄金/美元交易比欧元/美元更具吸引力，但现在市场重新 面临多元化配置的压力。" 根据Crisil Coalition Greenwich的数据，去年全球前12大投行的外汇期权收入增长30%，但仍落后于贵金 属领域50%的年增幅。尽管以美元计价的黄金、白银近期暴涨，仍将是市场焦点，但全球储备货币的前 景正发生重大转变。 特朗普对美元走弱的明显支持，与美国传统上支持强势美元的立场大相径庭。此外，他此前呼吁美联储 大幅降息，如今其提名的新任美联储主席人选 ...