Group 1 - The ICE Dollar Index increased by 0.08%, closing at 97.775 points, with a trading range of 97.489 to 97.984 points during the day [1] - The Bloomberg Dollar Index also rose by 0.08%, ending at 1188.39 points, with a daily trading range of 1185.03 to 1190.69 points [1]

Group 1 - The ICE Dollar Index decreased by 0.16%, closing at 97.690 points, with a trading range of 98.002 to 97.622 points, exhibiting a W-shaped trend throughout the day [1] - The Bloomberg Dollar Index fell by 0.20%, ending at 1187.44 points, with a trading range of 1190.67 to 1186.54 points [1]

Core Viewpoint - The ICE Dollar Index increased by 0.14% to 97.843 points, indicating a strengthening of the dollar against other currencies [1] - The Bloomberg Dollar Index rose by 0.03% to 1189.77 points, reflecting a slight appreciation in the dollar's value [1] Group 1 - The ICE Dollar Index traded within a range of 97.695 to 97.986 points during the day [1] - The Bloomberg Dollar Index had a daily trading range of 1188.71 to 1192.00 points [1]

Group 1 - The Bloomberg Dollar Index ended a four-day decline, stabilizing in the New York foreign exchange market [1] - The Japanese yen and Swiss franc, known for their safe-haven attributes, gained support from market buying, leading to stronger exchange rates [1] - The Canada Pension Plan Investment Board has identified the Swiss franc, yen, and gold as potential alternatives to the US dollar, indicating a shift in international long-term capital allocation away from dollar assets [1] Group 2 - Several European pension funds plan to reduce their holdings in US Treasury bonds and equities, further increasing market risk aversion [1] - There is a continuous inflow of funds into yen and Swiss franc assets, which are perceived as having value preservation properties [1] - As of the end of trading in New York, the exchange rate was 1 USD to 152.94 JPY and 1 USD to 0.7697 CHF, with safe-haven buying being the core driver supporting the exchange rates of these currencies [1]

Group 1 - The US dollar is slightly lower during the New York session, marking a potential fourth consecutive day of decline, which strengthens most developed countries' currencies [1][3] - The Japanese yen outperformed other currencies, rising over 1% to a session high, with the exchange rate reaching 152.75 yen per US dollar [1][3] - The Bloomberg Dollar Index decreased by 0.2%, with most G-10 currencies appreciating, led by the yen and the Australian dollar [1][3] Group 2 - Win Thin, Chief Economist at Bank of Nassau 1982, suggested that the current market movement may indicate a short squeeze, as the market initially expected the yen to weaken further after the ruling party's electoral victory [1][3] - Thin also noted that there seems to be a lack of fundamental news at the moment [2][4]

Core Viewpoint - The ICE Dollar Index remained relatively stable at 96.814 points, with a trading range of 97.007 to 96.609 points during the day [1] - The Bloomberg Dollar Index decreased by 0.09%, closing at 1181.94 points, with a trading range of 1184.46 to 1180.25 points [1] Group 1 - The ICE Dollar Index showed minimal fluctuation, indicating a stable dollar performance in the market [1] - The trading range for the ICE Dollar Index suggests limited volatility, which may reflect market sentiment [1] - The slight decline in the Bloomberg Dollar Index indicates a marginal weakening of the dollar against other currencies [1]

1. Report Industry Investment Rating - No relevant content provided. 2. Core View of the Report - Oil prices have fallen; copper prices have continued their downward trend; silver prices have tumbled. The prospect of US - Iran negotiations eases concerns about potential supply disruptions. Copper prices are down due to a large increase in LME inventories in Asia and weakening demand in the Chinese spot market. Silver prices are still seeking a bottom after a historic slump, and gold prices have also declined [3]. - The Bloomberg Dollar Index has reached a two - week high. All G - 10 currencies have fallen against the US dollar. Precious metals have seen a sharp sell - off, and the Norwegian krone has led the decline among commodity - linked currencies. Weak US employment data and a stock market decline have boosted US Treasury bonds, steepening the yield curve. Bitcoin has tumbled [4]. 3. Summary by Relevant Catalogs 3.1 February Holiday Trading Suspension Time Arrangement - Different trading products on various exchanges have different holiday trading suspension arrangements. For example, on CME, agricultural products such as live pigs and live cattle are closed on February 16, while rubber TSR20 is normal on February 2, 11, 13, and closed on February 16 - 18 [2]. 3.2 Futures Key News - Oil prices have dropped, copper prices have continued to fall, and silver prices have plunged. The US - Iran negotiation prospect eases supply concerns. Copper prices decline due to inventory increase and weak demand. Silver is still finding a bottom after a slump, and gold prices also fall. The Bloomberg Dollar Index hits a two - week high, G - 10 currencies fall against the dollar, precious metals are sold off, and Bitcoin tumbles [3][4]. 3.3 Sino - US Main Economic Data - In the US, data such as producer price环比, PPI (ex - food and energy)月环比, and MNI Chicago PMI have shown different changes compared to the previous period and forecasts. In China, the manufacturing and non - manufacturing purchasing manager indexes have also changed [5]. 3.4 Energy Futures Market Overview - New York crude oil (MAR 26) has a settlement price of 63.29, a decline of 2.84%, with a 1 - month increase of 11.87% and a 3 - month increase of 7.80%. Brent crude oil (APR 26) has a settlement price of 67.55, a decline of 2.75%, with a 1 - month increase of 12.67% and a 3 - month increase of 8.10%. Natural gas (MAR 26) has a settlement price of 3.509, an increase of 1.27%, with a 1 - month increase of 24.36% and a 3 - month decrease of 8.36% [6]. 3.5 Metal Futures Market Overview - Gold (APR 26) has a settlement price of 4889.5, a decline of 1.24%, with a 1 - month increase of 6.89% and a 3 - month increase of 19.42%. Silver (MAR 26) has a settlement price of 76.714, a decline of 9.10%, with a 1 - month decrease of 10.41% and a 3 - month increase of 49.58% [7]. 3.6 Foreign Exchange Futures Market Overview - The US dollar index (MAR 26) has a settlement price of 97.701, an increase of 0.22%, with a 1 - month decrease of 0.59% and a 3 - month decrease of 1.51%. The euro (MAR 26) has a settlement price of 1.1815, a decline of 0.14%, with a 1 - month increase of 0.68% and a 3 - month increase of 1.60% [8]. 3.7 Energy Futures Important Data Overview - EIA crude oil inventory change is - 345.5 (in ten thousand barrels), compared to the previous value of - 229.5. EIA natural gas inventory change is - 360 (in billion cubic feet per day), compared to the previous value of - 242. The total number of drilling rigs is 546, and the number of oil drilling rigs is 411 [9]. 3.8 Metal Futures Important Data Overview - COMEX gold inventory is 3549.15 (in ten thousand ounces), with a change of - 19.97. COMEX silver inventory is 39800.95 (in ten thousand ounces), with a change of - 278.14 [10]. 3.9 Foreign Exchange Futures Important Data Overview - The 10 - year US Treasury bond yield is 4.184, with a change of - 2.09%. The 10 - year German Treasury bond yield is 2.843, with a change of 1.66% [11]. 3.10 Stock Index Futures Market Overview - The small - cap Dow Jones Index (MAR 26) has a settlement price of 48998, a decline of 1.19%, with a 1 - month decrease of 1.61% and a 3 - month increase of 3.23. The small - cap S&P 500 Index (MAR 26) has a settlement price of 6820.75, a decline of 1.24%, with a 1 - month decrease of 2.72% and a 3 - month decrease of 0.13 [12]. 3.11 Soft Commodity and Agricultural Product Futures Market Overview - 2 -号 cotton (MAR 26) has a settlement price of 61.76, a decline of 0.77%, with a 1 - month decrease of 5.21% and a 3 - month decrease of 6.23. 11 -号 sugar (MAR 26) has a settlement price of 14.27, a decline of 1.18%, with a 1 - month decrease of 3.12% and a 3 - month increase of 1.13 [13]. 3.12 Stock Index Futures Important Data Overview - The US federal funds target rate is 3.75, with a change of 0.00%. LIBOR dollar overnight is 5.06157, with a change of 0.20% [15]. 3.13 Soft Commodity and Agricultural Product Futures Important Data Overview - ICE and CFTC positions show different net positions and changes for non - commercial and commercial positions, with data updated on January 27, 2026 [16].

Core Viewpoint - The ICE Dollar Index and Bloomberg Dollar Index both experienced gains, indicating a strengthening of the US dollar against other currencies during the trading session on February 4th. Group 1: ICE Dollar Index - The ICE Dollar Index rose by 0.21%, closing at 97.640 points, with an intraday trading range of 97.309 to 97.730 points [1] - The index showed a continuous upward trend from 16:00 to 01:00 Beijing time [1] Group 2: Bloomberg Dollar Index - The Bloomberg Dollar Index increased by 0.33%, reaching 1191.55 points, with an intraday trading range of 1187.30 to 1192.37 points [1] - Similar to the ICE index, the Bloomberg index also maintained a rising trend since 16:00 [1]

Group 1 - The Bloomberg Dollar Index rose by 0.3%, reaching its highest intraday level since January 23, following unexpectedly strong U.S. manufacturing activity data, with the ISM Manufacturing Index increasing from 47.9 to 52.6, surpassing market expectations of 48.5 [1][10] - U.S. Treasury yields increased, with the 2-year and 5-year yields rising by more than 4 basis points, indicating a shift in market sentiment [1][10] - The recent decline in precious metal prices has continued to negatively impact commodity currencies, contributing to the overall strength of the U.S. dollar [1][11] Group 2 - The Australian dollar (AUD/USD) fell by 0.3% to 0.6944 ahead of the Reserve Bank of Australia's interest rate decision [3][12] - Goldman Sachs economists expect the Reserve Bank of Australia to keep interest rates unchanged, despite market expectations for a 25 basis point hike, which may lead to a reassessment of the RBA's rate hike outlook for the year [4][13] - The USD/JPY pair rose by 0.5% to 155.63, amid comments from Japanese officials attempting to clarify the implications of a weak yen for the export sector [4][13] Group 3 - The USD/CHF pair increased by 0.9% to 0.7799, influenced by the decline in precious metals [5][13] - The EUR/USD pair decreased by 0.5% to 1.1791, while the GBP/USD pair fell by 0.2% to 1.3661, reflecting broader currency market trends [6][13] - The USD/NOK pair rose by 0.7% to 9.707, and the USD/CAD pair increased by 0.5% to 1.3687, indicating a strengthening of the U.S. dollar against these currencies [8][9][13]

Core Viewpoint - The article highlights the strengthening of the US dollar, driven by a decline in precious metals and unexpectedly strong US manufacturing data, marking the largest two-day increase since April [1] Group 1: Currency Market Impact - The US dollar recorded gains against all major non-US currencies, with the Bloomberg Dollar Index showing a cumulative increase of approximately 1.2% over two trading days, the largest rise since the market turmoil triggered by President Trump's large-scale tariffs ten months ago [1] - The strengthening dollar is attributed to market expectations regarding Kevin Walsh's nomination to succeed Jerome Powell as Federal Reserve Chair, with a belief that Walsh is more inclined to take action to curb rising inflation pressures compared to other candidates [1] Group 2: Precious Metals Market - Gold and silver prices both fell on Monday, continuing the downward trend observed since the previous week [1] - The anticipated monetary policy shift under Walsh's leadership is expected to support the dollar, which may weaken the currency depreciation trades that previously drove up gold prices [1]