Published: 20 July 2026,10:28
Daily Market Analysis New
*由於油價上漲引發通膨擔憂，美元反彈。
*美國CPI和PPI數據疲軟，繼續限制美元走強。
*國債殖利率上升降低了不產生收益的黃金的吸引力。
*市場正等待歐洲央行的政策決定，以尋求進一步的利率指引。
由於油價上漲引發人們對通膨可能持續高企的擔憂，美元指數（衡量美元兌一籃子六種主要貨幣的匯率）小幅走高。
美伊緊張局勢再次升溫，推高了能源價格，加劇了人們對燃料成本上漲可能引發更廣泛通膨的擔憂。這促使交易員重新評估聯準會是否需要將利率維持在高點更長時間，支撐了美國公債殖利率和美元匯率。
然而，近期美國CPI和PPI數據弱於預期，美元上漲空間依然有限。疲軟的通膨數據先前已降低了市場對貨幣政策進一步收緊的預期，使美元陷入價格壓力緩解和油價上漲引發的通膨風險重重的兩難境地。
由於美國公債殖利率上升和美元走強抑制了對無收益黃金的需求，金價下跌。儘管地緣政治緊張局勢通常會支撐避險需求，但投資人目前更關注油價上漲可能導致全球貨幣政策持續緊縮的可能性。
市場也密切關注歐洲央行和英國央行的政策前景。本週晚些時候，市場將關注歐洲央行的貨幣政策決定，以期獲得有關通膨和利率的進一步指引。
展望未來，美元和黃金的前景將取決於石油價格、國債殖利率、央行預期以及美伊衝突的發展。
技術分析
黃金，H4：
黃金價格在反彈後走高3,970.00 支撐位，帶著一個看漲吞沒形態在 H1 圖表上形成，顯示短期買盤興趣正在改善。
動量指標也變得更加積極。MACD指標顯示出不斷增強的看漲勢頭。而RSI 為 55，仍高於中線。這顯示黃金價格在短期內可能會延續漲勢。
如果上漲動能持續，黃金價格可能會向下一個阻力位邁進。4,055.00， 其次是4,125.00如果上漲勢頭增強。
然而，如果買盤壓力未能持續，黃金價格可能會回落並重新測試。3,970.00 支撐位，且有進一步下行風險3,900.00如果拋售壓力再次出現。
阻力位：4055.00，4125.00
支撐位： 3970.00，3900.00
以行業低點差和閃電般的執行速度交易外匯、指數、貴金屬等。
交易平台
學習
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