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View detailsThe "New Bond King" says that it is "impossible" for the Federal Reserve to cut interest rates this year.
On May 18th, according to Bloomberg, in an interview with Fox News' "Sunday Morning Futures" program, Gundlach pointed out that the market had previously expected two interest rate cuts this year, but inflation data had never cooperated. He said directly: As previously mentioned in an article by Wall Street Journal, the US CPI in April rose by 3.8% year-on-year, marking the fastest growth rate since May 2023. Meanwhile, Gundlach warned that the next CPI figure will "start with a 4". Inflation remains stubborn, and the window for interest rate cuts has closed. The CPI in April rose by 3.8% year-on-year, the highest increase in nearly two years, far exceeding the Federal Reserve's 2% policy target. Gundlach said that DoubleLine's model shows that the overall data of the next CPI will "start with 4", indicating that inflationary pressure not only has not subsided but is also showing a further upward trend. Gundlach believes that this spread structure itself constitutes a technical obstacle to a rate cut - market pricing is already reflecting expectations of sustained inflation, and if the Fed cuts rates at this time, it will face a serious risk to its credibility. Gundlach gave a direct assessment of the situation of the new Federal Reserve Chairman Kevin Warsh: He took over the position at a "difficult time". Analysts point out that Gundlach's remarks suggest that in the short term, Warsh has little room to implement loose policies. Despite the volatile macro environment, the U.S. stock market has remained "exceptionally strong". Gundlach offered his own interpretation: It is precisely because the Federal Reserve has held its ground on the issue of inflation that the stock market has been able to continue its upward trend. However, Gundlach also pointed out that the current stock market has already internalized a considerable degree of risk. "Market valuations are very expensive and the speculative atmosphere is thick," he said. Although earnings data have continuously exceeded expectations, this situation itself is "fueling speculative mania." In the interview, Gundlach once again issued a warning about the private credit market, his words direct. When asked if he was worried about this sector, he replied, "Sure, I am indeed concerned." Risk Warning and Disclaimer Clause
2026-05-18 -
View detailsChip failure, robot run amok, will AI trading switch to "physical AI"?
The most eye-catching stock performance this week was in Seoul - LG Electronics saw a cumulative increase of 55% over the week after news broke that it was collaborating with NVIDIA on humanoid robots, topping the list of gains in the core benchmark index in the Asia-Pacific region. In Japan, Fanuc's share price rose by 10% after it signed an AI industrial robot development agreement with Google, a subsidiary of Alphabet. In Hong Kong, China's Leidong saw its share price rise by as much as 150% on its first day of listing. The rebound in robotics stocks reflects the evolution of the AI cycle from digital to physical deployment, said Gary Tan, portfolio manager at Allspring Global Investments. "Physical AI" is set to become the next growth pole in AI trading. This week in the Asian market, several robot stocks were successively catalyzed by specific news, creating a dense resonance. After FANUC, the leading Japanese factory automation company, announced its collaboration with Google, a subsidiary of Alphabet, to jointly develop the AI capabilities of industrial robots, its share price rose by approximately 10%, confirming the market's imagination of the potential of combining top AI software with traditional industrial hardware. South Korea's Hyundai Motor also received a boost this week - it was reported that the South Korean military is exploring a strategic partnership with the company, with potential directions including the deployment of robot technology in military scenarios. NVIDIA continues to offer its support, and tech giants are strengthening their layout in physical AI. Huang Renxun has increasingly defined humanoid robots and autonomous machines as the most important new computing platforms following generative AI in public appearances. This statement has provided a strong narrative endorsement for the valuation expansion of the entire robotics sector. The rumored collaboration between NVIDIA and LG Electronics on humanoid robots, as well as a series of previous cooperation news with other Asian robotics companies, have successively ignited the stock prices of related companies. China, Japan and South Korea each have their own advantages and are competing in the physical AI race. China has established a relatively leading first-mover advantage. While continuously expanding its robot manufacturing capacity, the application of domestic humanoid robots is also frequently setting new records. On May 14th, the 2026 Second Hangzhou International Humanoid Robot and Robot Technology Exhibition officially opened at the Hangzhou Convention and Exhibition Center. The exhibition lasted for three days, with a 30,000-square-meter exhibition area gathering nearly 600 domestic and foreign enterprises such as Unitree and Tesla. Cutting-edge technological achievements including humanoid robots, core components, and brain-computer interfaces were showcased, vividly demonstrating the aggregation scale and commercialization process of China's embodied intelligence industry. Amid the upsurge, the challenge of implementation remains a key variable. "Physical AI has to deal with issues such as security, regulation, factories, supply chains and customer trust, which are far more complex than generative AI," said Charu Chanana, chief investment strategist at Saxo Markets. "My view is that this remains a future opportunity rather than an immediate scalable reality." Risk Warning and Disclaimer Clause
2026-05-15 -
View detailsSK Hynix's market value soars, approaching the $1 trillion mark！
SK Hynix's current market capitalization is approximately $948 billion, just a step away from the $1 trillion mark. If it succeeds in breaking through, South Korea will become the first country outside the United States to have two companies with a market capitalization of over $1 trillion. Samsung achieved this milestone earlier this month. Driven by FOMO sentiment, foreign capital continues to pour into South Korean stocks. The record-breaking performances of SK Hynix, Samsung and TSMC, the three chipmakers, jointly highlight their pivotal roles in the global AI supply chain. TSMC remains the company with the highest market value in Asia, with a market capitalization of over 1.83 trillion US dollars. The benchmark KOSPI index in South Korea has been climbing almost vertically, with foreign capital pouring into the chip sector. The index has risen by more than 86% so far this year, after a 75% increase in 2025, marking its strongest annual performance since 1999 and making it one of the best-performing major stock markets globally in 2025. The KOSPI hit a new all-time high earlier this week and rose 0.9% on Thursday, coming close to its record high. Currently, SK Hynix's market value is on par with retail giant Walmart and Berkshire Hathaway, while 16 months ago, the company's market value was less than $100 billion. Investing involves risks. Please exercise caution. This article does not constitute personal investment advice and has not taken into account the individual investment objectives, financial situation or needs of any specific user. Users should consider whether any opinions, views or conclusions in this article are suitable for their particular circumstances. Any investment made based on this article is at your own risk.
2026-05-14 -
View detailsFollowing Goldman Sachs, Morgan Stanley also clearly takes a bullish stance on the Chinese stock market and believes that "A-shares are superior to H-shares".
Morgan Stanley analysts Laura Wang and others released the latest research report, raising the target levels of several Chinese stock indices on the grounds of early signs of improved earnings of Chinese enterprises and the dominant position of domestic enterprises in the global supply chain. Among them, the target level of the CSI 300 Index was raised to 5,400 points, implying an upside potential of about 9% compared with Tuesday's closing price. In terms of configuration direction, Morgan Stanley clearly stated that it prefers A-shares over H-shares. The reasons include the higher concentration of high-end upstream manufacturing and hard-core technology enterprises in A-shares, the attention paid to the IPO market, and the readiness of the national team at any time. With the disclosure of second-quarter results, factors such as strong exports, early signs of re-inflation, and a more rational competition pattern in e-commerce are expected to further improve the profit outlook for enterprises. Profit improvement is beginning to show signs of hope, and multiple index target levels are being raised simultaneously. From a structural perspective, the improvement in profits has mainly been concentrated in the industrial and financial sectors. As the second-quarter earnings reports start to come out from July, the outlook for corporate profits may look more favorable, supported by strong export growth, early signs of reflation, and a more rational competitive environment in the e-commerce sector. The target level for the Hang Seng China Enterprises Index has been raised from 9,700 points to 9,900 points, while the target for the MSCI China Index has been slightly increased from 90 points to 91 points. Morgan Stanley has a clear stance on the allocation choice between A-shares and H-shares. Given that A-shares have a higher concentration in high-end upstream manufacturing and hard-core technology enterprises, coupled with the sustained heat of the A-share IPO market, Morgan Stanley prefers A-shares over H-shares. Goldman Sachs also pointed out the structural headwinds facing H shares - about 37% of the weight of the MSCI China Index is concentrated in software technology stocks. Against the backdrop of a global market that is extremely favorable to hardware and selling off software, H shares are under short-term pressure. In contrast, A shares benefit from multiple favorable factors such as the end of 41 months of PPI deflation and its transition to positive growth, a significant upward revision of the 2026 earnings forecast, and a 4% total shareholder return rate that attracts household savings to enter the market. The consistency in the core logic of the two institutions provides a clearer reference coordinate for the current allocation direction of China's stock market. Investing involves risks. Please exercise caution. This article does not constitute personal investment advice and has not taken into account the individual investment objectives, financial situation or needs of any specific user. Users should consider whether any opinions, views or conclusions in this article are suitable for their particular circumstances. Any investment made based on this article is at your own risk.
2026-05-13 -
View detailsMoney won't disappear because of AI: Things that are truly scarce can't be produced by computing power.
As the AI wave sweeps across the globe, a certain trend has quietly gained popularity - when artificial intelligence has pushed productivity to its limit and commodity prices have approached zero, will money come to an end? The answer is no. The existence of money is not due to the inconvenience of exchange, but is rooted in the underlying logic of human economic activities such as scarcity, uncertainty and coordination dilemmas. As long as these logics are not eliminated, money will not disappear. Peter Earle, a researcher at the American Institute for Economic Research (AIER), recently wrote that AI may significantly reduce the costs of replicable goods and digital services. However, the constraints on a large number of economic activities far exceed the reach of computing power. Land, geographical location, the time of top talents, on-site experiences - these resources are naturally scarce and cannot be replicated. The price mechanism in these areas is not a relic of the past; rather, it is a true reflection of unavoidable limitations. What is more worthy of attention is that abundance itself tends to magnify the value of scarcity. When AI floods the market with high-quality substitutes, original works, rare collections, and assets with traceability value may actually appreciate in value. At the same time, the expansion of complex systems does not eliminate risks; instead, it gives rise to new forms of risks, thereby generating more insurance, hedging, and credit instruments - and the operation of these functions precisely cannot do without the existence of money as a unit of account. Scarcity will not be eliminated; it will merely shift. The productivity revolution driven by AI can lower the prices of a large number of goods, but it cannot reach the core assets in the economic system that are constrained by physics and geography. The supply of land is fixed; the prime locations in New York or Tokyo will not become abundant due to a decrease in construction costs; the geographical proximity of infrastructure, cultural resources and social networks is also exclusive. The existence of such competitive and exclusive goods determines that the market always requires an allocation mechanism, and so far, money remains the most efficient choice. Time constitutes another layer of incompressible constraints. Even the top surgeons, seasoned litigation lawyers, or highly sought-after performers cannot expand their attention infinitely. Even if AI can enhance individual capabilities, it cannot eliminate the fundamental fact that "a person's time must be allocated among competing uses". Concerts, one-on-one consultations, live events - "being present" itself is a scarce commodity, and the price here functions as an accurate reflection of the real constraints, rather than a friction that can be erased by technology. Abundance actually raised the premium for "non-replicable" items. Historical patterns indicate that the cheaper the mass-produced goods are, the higher the premium for scarce items tends to be. Luxury brands, rare collectibles, and certified original works have their value precisely derived from limited supply and traceable origins. Peter Earle points out that if AI floods the market with a large number of high-quality replicas, the value of the original or source items will not decline but may even increase. Under this logic, the function of money will shift from "measuring the exchange value of ordinary commodities" to "expressing relative preferences for increasingly differentiated scarce forms". In other words, money will not disappear; its role will merely shift from commodities to those areas that cannot be replicated by computing power. Uncertainty and institutional constraints are the underlying anchors of the existence of money. The leap in productivity will not eliminate risks; rather, complex and highly coupled systems will give rise to new forms of risks. The explosive growth of goods and services will impose new pressures on resources, time and human capital, thereby generating new demands for insurance, hedging and credit. The effective operation of these functions not only requires a medium of exchange, but also a unified unit of account - and this is precisely one of the core functions of money that cannot be replaced. The reality at the institutional level also constitutes a structural support for the survival of money. Property rights protection, regulatory approval, access to exclusive networks and enforcement mechanisms all delineate controlled boundaries in economic activities. In a world where output is abundant, the value of trust and verification will only increase. Certification, auditing and reputation systems all rely on some form of monetary unit as the underlying support. The AI deflationary boom changes the price center, rather than the currency itself. Peter Earle's core judgment is that the AI-driven deflationary boom might significantly reduce the prices of numerous goods and services, but this will not eliminate the necessity of money; instead, it will shift the focus of prices and calculations to those areas that are non-replicable, subject to capacity constraints, and governed by systems. Energy costs may have generally decreased, but there are still capacity bottlenecks during peak demand periods; bandwidth and computing power are the same during congested times. Even highly advanced systems must allocate limited resources among competing uses, and monetary prices remain by far the most efficient allocation tool. Once they are absent, queuing, rationing, and administrative directives will take their place - these methods do not eliminate scarcity; they merely deal with it in a less transparent manner. Money will not disappear in the face of abundance. It merely follows scarcity, wherever it emerges. Risk Warning and Disclaimer Clause The market carries risks and investment should be made with caution. This article does not constitute personal investment advice and has not taken into account the specific investment goals, financial situation or needs of individual users. Users should consider whether the opinions, views or conclusions in this article are suitable for their particular circumstances. Any investment made based on this information is at your own risk.
2026-05-12 -
View detailsReport: Investors' enthusiasm is high, "hot chip IPO" Cerebras considering a significant increase in its IPO pricing range
Reuters reported on May 10 that Cerebras is considering raising the IPO price range from the previous $115 to $125 per share to $150 to $160 per share, an increase of approximately 28%. At the same time, the company also plans to increase the number of shares issued from 28 million to 30 million. If the final price is set at $160 per share, Cerebras' IPO fundraising scale will reach approximately $4.8 billion. This IPO is expected to be completed this Thursday, at which point Cerebras' valuation is expected to reach approximately $35 billion, making it one of the most notable listings in the recent AI infrastructure investment boom. The rapid upward adjustment of Cerebras' IPO pricing reflects the current market's high enthusiasm for the concept of AI infrastructure. According to Reuters, citing informed sources, the direct driving force behind the adjustment of the pricing range was the oversubscription from institutional investors. CoreWeave is still in a stage of massive cash burn and is accelerating the expansion of its data center network. However, investors have shown considerable tolerance for this - this precedent indicates that when evaluating AI-related targets, Wall Street often prefers to set aside the pressure of profitability and prioritize the AI exposure. Meanwhile, it is reported that Cerebras' decision to go public at this time is driven by its market logic. This tight supply and demand situation provides a strong valuation support for companies related to AI infrastructure. Cerebras' upcoming IPO will be an important market test: under the current AI chip landscape dominated by NVIDIA and surrounded by giants, how many emerging AI-focused chip design companies can the public market accommodate? Investors' answer will be revealed this Thursday. Despite the high market sentiment, Cerebras will still face a structural challenge after going public: the competition in the AI chip market is already quite fierce. Against this backdrop, Cerebras' core selling point lies in its customer base and partnership layout. OpenAI is both its client and shareholder, although OpenAI is simultaneously collaborating with Broadcom to develop its own chips. Additionally, Cerebras has reached an agreement with Amazon Web Services (AWS) to supply chips as a supplementary provider to Amazon's Trainium AI chips. It is reported that Groq has licensed its technology to Nvidia, which has also recruited the company's core talents; Meta, on the other hand, has poached a group of key engineers from another chip startup, Graphcore. The Information points out that Cerebras still has the possibility of being acquired after going public. Investing involves risks. Please exercise caution. This article does not constitute personal investment advice and has not taken into account individual users' specific investment objectives, financial situations or needs. Users should consider whether any opinions, views or conclusions in this article are suitable for their particular circumstances. Any investment made based on this article is at your own risk.
2026-05-11 -
View detailsThe reasons for the Federal Reserve to cut interest rates are increasingly exhausted, and Warsh faces a tough situation taking over.
In April, non-farm payrolls increased by 115,000. Although the job market is not robust, it is stable enough to further ease the outside world's urgent expectation for interest rate cuts. In contrast, inflationary pressure has yet to ease. The consumer price index (CPI) rose by 3.3% year-on-year in March, far exceeding the Federal Reserve's 2% policy target. Moreover, data from the past three months show that inflation has not declined but has risen instead. The pricing in the federal funds futures market is even more extreme - traders have almost ruled out the possibility of rate cuts before April 2031, and the interest rate curve even implies a probability of rate hikes in the coming years. Kevin Warsh, who is about to take over as the chair of the Federal Reserve, will have a hard time pushing through a rate cut agenda in a policy committee that leans hawkish. In April, non-farm payrolls rose by 115,000, although this was below the level of strong growth, it was sufficient to indicate that the labor market was stabilizing after previous fluctuations, thereby reducing the necessity for the Federal Reserve to boost employment through interest rate cuts. The issue of inflation is now at the core of discussions within the Federal Reserve. Goolsbee told CNBC on Friday that he is worried about the current inflation trend: "We have been above the 2% target for five consecutive years. Last year, there was no progress, and in the last three months, inflation has not declined but has risen instead." He warned that if the market widely expects inflation to fall back to the level of several years ago, the Federal Reserve will face a "dilemma". At last week's Federal Open Market Committee (FOMC) meeting, three regional Fed presidents dissented from the post-meeting statement. They did not object to the decision to keep interest rates unchanged per se, but rather to the "forward guidance" language in the statement that was widely interpreted by the market as hinting at a rate cut in the next step. "New York Fed's Fedwire": Half of the institutions no longer expect interest rate cuts this year Goldman Sachs has explicitly adjusted its forecast, pushing back the expected final two rate cuts by one quarter each to December 2026 and March 2027. The pricing in the federal funds futures market is even more pessimistic - according to futures pricing, traders have essentially eliminated any probability of rate cuts before April 2031, and the interest rate curve even reflects the possibility of rate hikes in the coming years. With Powell's succession imminent, the low-interest-rate agenda may be hard to advance. However, in the context of inflation exceeding 3%, promoting a rate cut will be a challenging task, especially given the current overall hawkish structure of the FOMC committee. Wash had previously stated that he believed occasional policy differences within the Federal Reserve were healthy. But the current policy environment suggests that what he is facing may be far more than a typical "family squabble". The market involves risks, and investment should be made with caution. This article does not constitute personal investment advice and has not taken into account the individual investment objectives, financial situation or needs of any specific user. Users should consider whether any opinions, views or conclusions in this article are suitable for their particular circumstances. Any investment made based on this article is at the user's own risk.
2026-05-09 -
View detailsThe president of the San Francisco Fed downplayed the differences in the Fed's statement, saying that the wording of the statement is less important than the actions.
Daly said in an interview on Thursday that "the wording of the statement is less important than the action of the (Federal Open Market Committee)," and pointed out that the real signal of this meeting was that "everyone agreed on this decision." She also said she would not oppose voting. They believe that the Iran war has pushed up oil prices and raised economic uncertainty, and the policy statement should weigh the possibilities of raising and lowering interest rates equally. This rare multiple dissent has drawn market attention to the Fed's policy path. Daly said there are currently no signs that the surge in energy prices is driving up medium- and long-term inflation expectations. Daly believes that the current monetary policy is in a "mildly restrictive" range. Once the conflict between the United States and Iran is resolved, it will exert downward pressure on inflation. Risk Warning and Disclaimer Clause
2026-05-08 -
View detailsWhy did only Google win in the earnings report showdown among tech giants?
Alphabet's share price soared by more than 7% after the market closed on Wednesday (April 29), emerging as the sole winner in this earnings season's "Super Bowl". Google Cloud's quarterly revenue rose by 63% year-on-year to $20 billion, with its backlog of orders nearly doubling to $46.2 billion, providing a clear return logic for its huge capital expenditures. CEO Sundar Pichai said on the earnings call: "Our AI investments and full-stack approach are lighting up every corner of our business." Analysts point out that the core divergence of this earnings season does not lie in whose performance is better, but rather in whose spending is more convincing. This also reflects the market's re-examination of the AI narrative of tech giants - investments supported by orders are rewarded, while money-burning without a clear path to monetization is punished. Alphabet's core highlights this quarter were concentrated on Google Cloud. This figure provides direct endorsement for Alphabet's upward revision of its capital expenditure plan. The company has raised its full-year capital expenditure guidance from the previous range of $175 billion to $185 billion to $180 billion to $190 billion, and hinted that capital expenditure will "increase significantly" in 2027. UBS analyst Stephen Ju also pointed out that AWS's 28% growth was lower than the 32% expected by UBS and over 30% expected by investors respectively, which will drag down the stock price in the short term. For Microsoft, although it reported a 5 million increase in paid Copilot subscriptions quarter-on-quarter, the 39% revenue growth of Azure only met expectations. He pointed out that Azure's steady growth (39% on a constant currency basis) compared with the significant acceleration of AWS (28%) and GCP (63%) might trigger further debate in the market. Meta: Soaring Capital Expenditure Raises Concerns Analysis points out that although its revenue in the first quarter increased by 33%, exceeding expectations, this is still not enough to justify its increased capital expenditure in the eyes of investors. UBS analyst Esha Vaish pointed out that the increase in capital expenditure guidance and the in-line second-quarter revenue guidance offset the positive impact of better-than-expected first-quarter revenue and profits, thus dragging down the stock price. Investors will closely watch the data points on its product development (such as the business chatbot/Meta AI) and the reasons for the increased capital expenditure budget. Investing involves risks. Please exercise caution. This article does not constitute personal investment advice and has not taken into account the individual investment objectives, financial situation or needs of any specific user. Users should consider whether any opinions, views or conclusions in this article are suitable for their particular circumstances. Any investment made based on this article is at your own risk.
2026-04-30 -
View detailsTonight, Powell's "final dance": likely to hold steady, but with a stronger hawkish tone!
The Federal Reserve will announce its interest rate decision at 2:00 a.m. Beijing time on April 30. The benchmark interest rate is expected to remain unchanged within the range of 3.5% to 3.75%. Market consensus is highly consistent, with only one dissenting vote expected from Governor Miran, who is anticipated to support a 25 basis point rate cut. Fed officials generally expect that the decline in inflation will be postponed for another full year. Market expectations for rate cuts have narrowed significantly. Deutsche Bank has withdrawn its previous prediction of a rate cut in September and adjusted its base scenario to the Fed remaining "on hold indefinitely" near the neutral rate. Consensus has emerged to hold back, and the debate has shifted to "the next step" According to Bank of America, the current inflation outlook remains as unclear as it was at the March meeting. Although the stock market is trading as if the Iran war has ended, energy and shipping disruptions persist, and there is still high uncertainty regarding the transmission of the conflict to core inflation. The dovish camp is also tightening, and the urgency of cutting interest rates is waning. Last week, Waller not only emphasized the inflationary risks brought about by the Iran war but also mentioned the labor supply shock. He believes that this means the economy may be able to maintain a stable unemployment rate "with little or no net new job creation". Bank of America believes that Waller may still hope for a rate cut this year, but the extent of the cut may be smaller than previously expected and the timing may be later. Even the most dovish member of the FOMC, Miran, indicated that he prefers three rate cuts this year rather than four, citing the deterioration of the inflation mix since the beginning of the year. Bank of America believes that if the April meeting includes a dot plot, the 2026 interest rate expectations of some committee members will already have moved up, and by June, the risk of more "dots" moving up is still increasing. The most notable aspect of this FOMC statement is whether the Federal Reserve will hint that the risks to the policy path have shifted to being "two-way". Bank of America believes that this is a nearly 50-50 call, but the majority of the committee still leans towards keeping the current forward guidance language unchanged. Deutsche Bank, on the other hand, leans towards the view that a substantial adjustment to the guidance will be postponed until June, when the committee will have a clearer understanding of the situation in the Middle East, the stability of the labor market, and the path of inflation transmission. However, the risks are clearly skewed towards a hawkish stance. Press Conference: Powell's Tough Stance Is Inevitable According to Bank of America, Powell's core message may be that the Fed will remain firmly on hold, with current policy well-prepared to address the risks to its dual mandate. With uncertainty still high, the Fed has no reason to counter market pricing of a flat interest rate path. It is worth noting that at the March press conference, "inflation" was mentioned 67 times, while "labor market/employment/unemployment" was only mentioned 40 times. Inflation has clearly become the heaviest weight on the policy scale. It is expected that he will not set a quantitative threshold for interest rate hikes. Is the focus on interest rate cuts stranded or merely postponed? UBS expects Kevin Warsh to be sworn in before the FOMC meeting on June 16-17. If this schedule is fulfilled, the April meeting will be the last complete policy communication window in the Powell era, and the market will pay more attention to whether he leaves a policy starting point of "not cutting interest rates for a longer time" for the next chair. Goldman Sachs trading desk views indicate that the market as a whole regards this FOMC meeting as a low-volatility event, but there are still directional sensitivities for different assets. In terms of foreign exchange, Carlie Ladda, a trader at Goldman Sachs, believes that the Fed's slightly hawkish stance may bring some dollar buying, but it is unlikely to form a sustained trend. The market remains more focused on the situation in Iran, corporate earnings reports, and month-end factors. The trading desk is inclined to sell the dollar when it rebounds. Risk Warning and Disclaimer Clause
2026-04-29