Odaily Planet Daily News SPI Asset Management analyst Stephen Innes said that although market participants generally believe that further interest rate cuts and strong profit rise will coexist, these factors may not necessarily depend on each other. It is widely expected that the Federal Reserve will cut interest rates by 25 basis points, but the subsequent trend is still uncertain. Regardless, the future of the US dollar, stock market, and bond market will largely depend on the guidance to be released by the Federal Reserve rather than the rate cut itself. The key question is whether the Federal Reserve will continue to raise rates in January next year FOMC.

Christopher Wong, forex strategist at OCBC Bank in Singapore, said, "U.S. exceptionalism continues to show signs of weakness, giving the market an excellent excuse to increase Fed rate cut expectations and sell the dollar." However, analysts warn that the latest US inflation data only provides a microcosm of global price trends, and further data is needed to confirm the dollar's downward trend. Stephen Innes, managing partner at SPI Asset Management, said, "We may need some help from a downturn in the U.S. labor market." ”

OCBC Research said in a note that there could be room for further upside in the gold price in the medium term. As of April 3, the gold price has risen 11.5% year-to-date. "We remain optimistic about the outlook for gold prices in anticipation of an easing of interest rates globally, central banks will continue to buy gold, and gold has the characteristics of a geopolitical hedge," the bank's analysts said. Stephen, managing director at SPI Asset Management, said gold investors now believe that the Fed will choose to cut interest rates regardless of whether inflation reaches target or not. In addition, central banks in emerging markets are increasing their gold reserves, increasing demand for precious metals. "This move will support gold prices in the near term," he said. ”

Stephen Innes, managing director of SPI Asset Management, said that next week Bursa Malaysia Derivatives gold futures contracts will follow external developments and the performance of the New York Mercantile Exchange in the United States, showing an rise trend. Next week's focus will be on US non-farm payrolls, so I expect Bursa Malaysia gold futures to trade sideways for most of next week, with support at $2,035 per ounce and resistance at $2,065 per ounce.