The market has digested strong PPI data, and the US dollar rebounded last Friday but encountered resistance and fell back to consolidate.

Gold has once again stabilized at the psychological level of $2,000

Last Friday, another hot inflation data weakened the Federal Reserve's interest rate cut prospects, causing the US dollar index to hit an intraday high but quickly recoup all gains and eventually close to flat at 104.275. The benchmark 10-year US Treasury yield briefly reached the 4.3% mark and then fell, ultimately closing at 4.281%; The yield of the interest rate sensitive 2-year US Treasury bond briefly rose by over 10 basis points, reaching a high point for the year. The gains in the end of the day were slightly higher, ultimately closing at 4.644%.

Due to the escalating tensions in the Middle East masking the weakening hope for interest rate cuts and the bleak demand outlook for this year, international crude oil has risen for two consecutive weeks, reaching a new high in nearly three weeks. WTI crude oil rose 0.81% to $78.16 per barrel; Brent crude oil rose 0.58% to $83.22 per barrel.