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I confirm my intention to proceed and enter this website Please direct me to the website operated by Ultima Markets , regulated by the FCA in the United Kingdom昨日發布的 ADP 就業變動報告顯示,美國私營企業 2 月僅新增 77K 個就業崗位,創 7 個月來的最小增幅。這一數據相比上修後的 1 月 186K 大幅下降,且遠低於市場預測的 140K。

(美國 ADP 就業變動數據;來源:Trading Economics)
由於數據遠遜於預期,市場關注點現轉向週五即將發布的 2 月美國非農就業報告(NFP)。大多數經濟學家預計非農新增就業 160K,略高於上月數據。然而,鑑於 ADP 的疲軟表現,NFP 可能低於市場預期。
投資人對川普總統近期宣布的激進貿易政策日益憂心,該政策可能導致「停滯性通膨」(Stagflation)——即經濟成長停滯與通膨上升並存的不利局面。這種不確定性進一步影響聯準會(Fed)的政策前景,對美國經濟與美元帶來更大壓力。
美國股市同樣承受巨大壓力,標普 500 指數回吐了大選後的全部漲幅,納斯達克綜合指數接近技術性回調區域。尤其是科技股,由於市場擔憂生產成本上升及潛在的報復性關稅,該板塊的獲利能力可能受到影響。
與此同時,被稱為華爾街「恐慌指數」的 CBOE 波動率指數(VIX)昨日小幅回落,但仍維持在 22 以上,觸及數月高點,顯示交易員正為市場的進一步動盪做準備。

(標普 500 波動率指數(VIX);來源:Trading View)
受市場動盪影響,美元承受了巨大壓力,錄得自 2022 年 11 月以來最大三日跌幅。美元指數(DXY)在此期間下跌 2.5%,跌破 104.50 重要支撐位。市場情緒可能進一步拖累美元,短期下行目標位於 104.50 至 103.40 區間。

(美元指數日線圖分析;來源:Trading View)
儘管美元可能會出現短期反彈,但在當前市場環境下,整體前景仍然偏空。除非市場出現重大變化,否則美元的回升可能只是短暫的技術性修正。
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