The U.S. dollar index continued to hit a new 20-year high, and gold, silver and oil stocks dived across the board

Fundamentals：

The chance of a U.S. recession in the next 12 months has soared to 38% after consumer confidence hit a record low and interest rates soared, according to the latest forecast from Bloomberg Economics. On July 5, local time, a poll released by Monmouth University in the United States showed that 88% of Americans believe that the United States is developing in the wrong direction, and only 10% believe that the United States is developing in the right direction. , which is also the lowest level since the agency conducted a related poll in 2013. According to the survey, nearly half of respondents cited rising U.S. natural gas prices and inflation as their top concerns.

The dollar hit its highest in about 20 years, cementing its status as the safe-haven asset of choice for investors worried about a potential recession, making gold less attractive to overseas buyers. U.S. stocks have been under relentless selling pressure, with the benchmark S&P 500 posting its biggest first-half percentage drop since 1970 and the Federal Reserve pulling back from easy monetary policy by raising borrowing costs. Investors are awaiting the upcoming release of minutes from the Fed's June meeting, where they expect the central bank to raise rates by another 75 basis points at the end of July.

Technical：

Fed's benchmark interest rate hiked by 75bp

Dow: The three major U.S. stock indexes staged a reversal. The S&P 500 closed up 0.16%, the Nasdaq closed up 1.75%, and fell nearly 2% at the beginning of the session. The Dow closed down 0.42%, recovering most of the previous decline of over 700 points . Faraday Future closed up more than 47%. The Dow rebounded at 31,000 after a deep fall, focusing on the position around 31,900 within the week.

USD:The US dollar index broke through a high of 106, continuing to hit a new high since December 2002, and finally closed up 1.255% at 106.51; the 10-year US bond yield fell sharply, falling below 2.9%. The US dollar is cautious in chasing more historical highs, and in the short term, it is concerned about the slight correction near 105.5.

Gold: On Tuesday, spot gold continued to slump, and accelerated its downward trend in the U.S. session, as low as $1,763.5, down about $49 from the daily high, and finally closed down 2.46% at $1,764.7 per ounce; Focus on the gold short-term callback target of 1785.

Crude oil:In terms of crude oil, the U.S. session fell wildly, and WTI crude oil fell below the $100 mark in intraday trading, and finally closed down 9.81% at $100.71 per barrel; Brent crude oil fell about $13 from the daily high and finally closed down 9.59% at $105.25 a barrel. Focus on the crude oil band backtesting the 103.5 position.

(The above analysis only represents the analyst's point of view, the foreign exchange market is risky, and investment should be cautious)