<p><img src="https://imageproxy.pbkrs.com/https://images.unsplash.com/photo-1569025690938-a00729c9e1f9/query-YXV0bz1mb3JtYXQmZml0PWNyb3AmaXhpZD1leUpoY0hCZmFXUWlPakV5TURkOSZpeGxpYj1yYi0xLjIuMSZxPTgwJnc9MTAwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.unsplash.com/photo-1569025690938-a00729c9e1f9/query-YXV0bz1mb3JtYXQmZml0PWNyb3AmaXhpZD1leUpoY0hCZmFXUWlPakV5TURkOSZpeGxpYj1yYi0xLjIuMSZxPTgwJnc9MTAwMA"/></p>
<p><em>图片来源：Unsplash</em></p>
<p>股票连续第五个交易日上涨，而货币在周一的动荡后找到了支撑，市场在潜在日元干预的传闻中恢复了平静。MSCI 全球所有国家指数作为全球股票的关键指标，徘徊在创纪录水平附近，受益于亚洲股市上涨 0.7%，创下历史新高。美国和欧洲股指的期货显示出进一步上涨的信号，继周一华尔街强劲表现之后。日元在连续两天对美元上涨后小幅回落，市场传言美国和日本可能进行协调的货币干预。与此同时，黄金和白银在接近历史高位时保持稳定。日本债券市场的干扰和对货币走势的猜测导致近期市场活动中各资产类别的波动性加剧。美联储将在周三宣布其政策决定，主要科技公司也将发布财报。现在的焦点转向由人工智能推动的股票反弹能否维持其势头。尽管货币和贵金属波动，股票交易者似乎对进一步波动的潜在性并不在意。华尔街在周一反弹，摆脱了自六月以来的首次两周下跌趋势。</p>
<p>在国内，英国零售联盟报告称，1 月份商店价格同比上涨 1.5%，高于 12 月份的 0.7%。食品价格同比上涨 3.9%（从 3.3% 上升），而非食品项目同比上涨 0.3%（从-0.6% 上升）。尽管 BRC 商店价格通胀低于整体 CPI 的 3.4%（同比），但食品价格成分与 CPI 食品通胀一致，暗示在 2 月 18 日的下一次 CPI 发布中可能会有向上的修正。此外，批发天然气价格的上涨可能会限制 CPI 中能源价格的预期放缓，因为 OFGEM 第二季度的能源价格上限窗口将持续到 2 月 17 日。尽管食品和能源价格通胀趋势应同比下降，但近期的发展可能会减缓通货紧缩，短期内对货币政策委员会鹰派立场的影响有限。</p>
<p>日元、黄金价格、美国政府停摆风险、关税、上涨的天然气价格、Starmer/Burnham 的动态以及对下一任美联储主席的猜测主导着市场头条。在这种背景下，关注德国 IFO 调查似乎有些不寻常。然而，撇开法国政治，欧元区相较于美国和英国而言，仍然是相对稳定的支柱，政策与 CPI 在 2% 的目标附近保持一致，最新的 IFO 数据引发了一些担忧。1 月份的 IFO 指标略低于预期，给德国财政刺激措施预期的规模和时机带来了不确定性。尽管对这些措施的乐观情绪依然存在，但 IFO 时钟仍将 1 月份的结果置于 “危机” 象限。各行业之间的差异显而易见，制造业表现优于服务业——与周五的 PMI 结果相反——但整体势头似乎最多只是温和。展望未来，初步的第四季度 GDP 增长数据可能在周五带来更多的清晰度。尽管共识预计环比增长 0.2%，但 2026 年第一季度 0.3% 的环比中位数预测在 IFO 时钟的左下象限当前定位下似乎过于乐观。</p>
<h3><strong>隔夜头条</strong></h3>
<ul>
<li>特朗普因贸易协议延迟将对韩国的关税提高至 25%</li>
<li>美国将乌克兰安全保障与和平协议让出领土挂钩</li>
<li>英国商店价格通胀升至近两年来的最高水平</li>
<li>黄金价格在贬值交易加速下继续上涨，突破 5000 美元</li>
<li>黄金热潮促使矿工在南非寻找母矿</li>
<li>英国首相 Starmer：不会被迫在美国和中国之间选择</li>
<li>美国天然气价格在冬季风暴后飙升至三年高点</li>
<li>FTSE 旨在为蓝筹股指数的海外上市铺平道路</li>
<li>欧盟议会推迟决定解冻美国贸易协议</li>
<li>北约的 Rutte 警告：欧洲无法在没有美国的情况下自我防卫</li>
<li>中国工业利润在通缩缓解的情况下扭转下滑</li>
<li>美光承诺在新加坡投资 240 亿美元以提升芯片产量</li>
<li>Pimco 在 410 亿美元的抛售后仍坚持对日本长期债券的看法</li>
<li>英国呼吁对 Netflix 收购华纳兄弟的竞争审查</li>
<li>安踏体育以 18 亿美元收购 Puma 29% 的股份</li>
</ul>
<h3><strong>纽约时间上午 10 点的外汇期权到期</strong></h3>
<p>(1BLN+ 代表较大到期，交易时在日常 ATR 内更具吸引力。)</p>
<ul>
<li>欧元/美元：1.1700-05（12 亿），1.1720-25（4.19 亿），1.1735-50（14.3 亿）</li>
<li>1.1780（4.92 亿），1.1800-10（17 亿），1.1815-25（19 亿），1.1885-00（13 亿）</li>
<li>美元/日元：156.15（4 亿），157.00（9.09 亿），157.50（7.16 亿），158.00（3.34 亿）</li>
<li>欧元/日元：180.50（2.94 亿）</li>
<li>美元/瑞士法郎：0.7750（2.65 亿），0.7890（3.5 亿）</li>
<li>英镑/美元：1.3460-75（4.18 亿）。欧元/英镑：0.8600（9.76 亿），0.8700（5.27 亿）</li>
<li>澳元/美元：0.6825-35（7.6 亿），0.6850（2.39 亿）</li>
<li>澳元/新西兰元：1.1510（3 亿），1.1560（2 亿），1.1610（2.3 亿），1.1660（3.02 亿）</li>
<li>1.1700（4.45 亿）</li>
</ul>
<h3><strong>截至 1 月 23 日的 CFTC 持仓情况：</strong></h3>
<ul>
<li>股票基金投机者已将其在标普 500 CME 的净空头头寸减少了 48,733 份合约，降至 400,381 份。同时，股票基金经理已将其在标普 500 CME 的净多头头寸减少了 49,679 份合约，总计为 882,629 份合约。</li>
<li>投机者已将其在 CBOT 美国 5 年期国债期货的净空头头寸削减了 132,601 份合约，降至 2,136,519 份，并且还将 CBOT 美国 10 年期国债期货的净空头头寸减少了 214,865 份合约，降至 655,640 份。CBOT 美国 2 年期国债期货的净空头头寸减少了 79,758 份合约，降至 1,225,122 份。相反，投机者已将 CBOT 美国超长期国债期货的净空头头寸增加了 23,725 份合约，目前总计为 258,822 份。此外，投机者已将 CBOT 美国国债期货转为净空头头寸 23,070 份，而上周为 13,835 份净多头。</li>
<li>当前比特币的净多头头寸为 298 份合约，而瑞士法郎的净空头头寸为-43,207 份合约。英镑显示出-21,980 份合约的净空头头寸，欧元的净多头头寸为 111,695 份合约。最后，日元反映出-44,829 份合约的净空头头寸。</li>
</ul>
<h3><strong>技术与交易观点</strong></h3>
<p>SP500</p>
<ul>
<li>日均 VWAP 看涨</li>
<li>周均 VWAP 看跌</li>
<li>高于 6905 目标 7000</li>
<li>低于 6895 目标 6860</li>
</ul>
<p><img src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_us500_2026-01-27_09-28-40_639051011563815950.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_us500_2026-01-27_09-28-40_639051011563815950.webp"/></p>
<p>EURUSD</p>
<ul>
<li>日均 VWAP 看涨</li>
<li>周均 VWAP 看涨</li>
<li>高于 1.18 目标 1.1930</li>
<li>低于 1.1750 目标 1.1615</li>
</ul>
<p><img src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_eurusd_2026-01-27_09-29-22.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_eurusd_2026-01-27_09-29-22.webp"/></p>
<p>GBPUSD</p>
<ul>
<li>日均 VWAP 看涨</li>
<li>周均 VWAP 看涨</li>
<li>高于 1.3550 目标 13740</li>
<li>低于 1.3430 目标 1.3290</li>
</ul>
<p><img src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_gbpusd_2026-01-27_09-30-09_639051010643608918.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_gbpusd_2026-01-27_09-30-09_639051010643608918.webp"/></p>
<p>USDJPY</p>
<ul>
<li>日均 VWAP 看跌</li>
<li>周均 VWAP 看跌</li>
<li>高于 157.75 目标 160</li>
<li>低于 156 目标 152</li>
</ul>
<p><img src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_usdjpy_2026-01-27_09-30-27_639051009413615923.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_usdjpy_2026-01-27_09-30-27_639051009413615923.webp"/></p>
<p>XAUUSD</p>
<ul>
<li>日均 VWAP 看涨</li>
<li>周均 VWAP 看涨</li>
<li>高于 4900 目标 5200</li>
<li>低于 4885 目标 4775</li>
</ul>
<p><img src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_xauusd_2026-01-27_09-30-42_639051008783146121.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_xauusd_2026-01-27_09-30-42_639051008783146121.webp"/></p>
<p>BTCUSD</p>
<ul>
<li>日均 VWAP 看跌</li>
<li>周均 VWAP 看跌</li>
<li>高于 89.8k 目标 92k</li>
<li>低于 88.7k 目标 84.3k</li>
</ul>
<p><img src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_btcusd_2026-01-27_09-31-02.webp?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_btcusd_2026-01-27_09-31-02.webp"/></p>
<hr/>
<p><em>更多来自此作者的文章：</em></p>
<p>FTSE 100 收盘线 - 1 月 26 日，星期一</p>
<p>每日市场展望 - 1 月 26 日，星期一</p>
<p>FTSE 100 收盘线 - 1 月 23 日，星期五</p>

<p>股票连续第五个交易日上涨，MSCI 全球所有国家指数接近历史高位。亚洲股市上涨 0.7%，而美国和欧洲期货则显示出进一步上涨的迹象。日元略微下跌，市场对可能的货币干预产生了猜测。黄金和白银价格保持在接近历史高位的稳定水平。在英国，1 月份商店价格同比上涨 1.5%，食品价格上涨 3.9%。德国 IFO 调查显示出温和的表现不佳，引发了对财政刺激措施效果的担忧。即将到来的美联储政策决定和主要科技公司财报备受关注</p>

<p><img src="https://imageproxy.pbkrs.com/https://images.unsplash.com/photo-1569025690938-a00729c9e1f9/query-YXV0bz1mb3JtYXQmZml0PWNyb3AmaXhpZD1leUpoY0hCZmFXUWlPakV5TURkOSZpeGxpYj1yYi0xLjIuMSZxPTgwJnc9MTAwMA" alt="" original-src="https://images.unsplash.com/photo-1569025690938-a00729c9e1f9?ixlib=rb-1.2.1&amp;ixid=eyJhcHBfaWQiOjEyMDd9&amp;auto=format&amp;fit=crop&amp;w=1000&amp;q=80"/></p>
<p><em>Image Source: Unsplash</em></p>
<div class="lb-trans"><p><em>图片来源：Unsplash</em></p>
</div><p>Stocks extended their upward momentum for the fifth straight session, while currencies found some footing after Monday’s turbulence, as markets regained composure amidst whispers of potential Yen intervention. The MSCI All Country World Index, a key gauge of global equities, hovered near record levels, buoyed by a 0.7% surge in Asian shares, which reached an all-time high. Futures for US and European equity indexes signalled further gains ahead, following Monday’s strong performance on Wall Street. The Yen dipped modestly after two days of gains against the dollar, amid chatter about possible coordinated currency intervention between the US and Japan. Meanwhile, gold and silver held steady near their record highs. Disruptions in Japan's bond market and speculation about currency moves have driven heightened volatility across asset classes in recent market activity. The Federal Reserve is set to announce its policy decisions on Wednesday, and major tech companies are releasing earnings. The spotlight now shifts to whether the AI-fuelled stock rally can sustain its momentum. Despite the fluctuations in currencies and precious metals, stock traders seemed unfazed by the potential for further volatility. Wall Street rebounded on Monday, recovering from its first two-week losing streak since June.</p>
<div class="lb-trans"><p>股票连续第五个交易日上涨，而货币在周一的动荡后找到了支撑，市场在潜在日元干预的传闻中恢复了平静。MSCI 全球所有国家指数作为全球股票的关键指标，徘徊在创纪录水平附近，受益于亚洲股市上涨 0.7%，创下历史新高。美国和欧洲股指的期货显示出进一步上涨的信号，继周一华尔街强劲表现之后。日元在连续两天对美元上涨后小幅回落，市场传言美国和日本可能进行协调的货币干预。与此同时，黄金和白银在接近历史高位时保持稳定。日本债券市场的干扰和对货币走势的猜测导致近期市场活动中各资产类别的波动性加剧。美联储将在周三宣布其政策决定，主要科技公司也将发布财报。现在的焦点转向由人工智能推动的股票反弹能否维持其势头。尽管货币和贵金属波动，股票交易者似乎对进一步波动的潜在性并不在意。华尔街在周一反弹，摆脱了自六月以来的首次两周下跌趋势。</p>
</div><p>Domestically, the British Retail Consortium reported a 1.5% y/y rise in shop prices in January, up from 0.7% in December. Food prices increased by 3.9% y/y (from 3.3%), while non-food items rose 0.3% y/y (from -0.6%). Although BRC shop price inflation is lower than overall CPI at 3.4% y/y, the food price component aligns with CPI food inflation, suggesting a potential upward revision in the next CPI release on 18 February. Additionally, rising wholesale gas prices may limit the expected easing of energy prices in CPI, as the Q2 OFGEM energy price cap window remains open until 17 February. While food and energy price inflation trends should decline year-on-year, recent developments may slow disinflation, with limited short-term impact on MPC hawks' positions.</p>
<div class="lb-trans"><p>在国内，英国零售联盟报告称，1 月份商店价格同比上涨 1.5%，高于 12 月份的 0.7%。食品价格同比上涨 3.9%（从 3.3% 上升），而非食品项目同比上涨 0.3%（从-0.6% 上升）。尽管 BRC 商店价格通胀低于整体 CPI 的 3.4%（同比），但食品价格成分与 CPI 食品通胀一致，暗示在 2 月 18 日的下一次 CPI 发布中可能会有向上的修正。此外，批发天然气价格的上涨可能会限制 CPI 中能源价格的预期放缓，因为 OFGEM 第二季度的能源价格上限窗口将持续到 2 月 17 日。尽管食品和能源价格通胀趋势应同比下降，但近期的发展可能会减缓通货紧缩，短期内对货币政策委员会鹰派立场的影响有限。</p>
</div><p>The Yen, gold prices, US government shutdown risks, tariffs, rising gas prices, Starmer/Burnham developments, and speculation over the next Fed Chair are dominating market headlines. Against this backdrop, it may seem unusual to focus on the German IFO survey. However, with French politics aside, the eurozone has been a relative pillar of stability compared to the US and UK, with policies aligned as CPI hovers around the 2% target, the latest IFO data raises some concerns. January’s IFO indicators modestly underperformed expectations, casting uncertainty over the scale and timing of the anticipated benefits from German fiscal stimulus. Despite the optimism surrounding these measures, the IFO clock still places January’s results in the ‘crisis’ quadrant. Sectoral discrepancies are evident, with manufacturing outperforming services—contrary to Friday’s PMI results—but overall momentum appears tepid at best. Looking ahead, more clarity may emerge on Friday with the initial Q4 GDP growth figures. While the consensus anticipates a 0.2% quarter-on-quarter expansion, the 0.3% q/q median forecast for Q1 2026 seems ambitious given the current positioning in the bottom-left quadrant of the IFO clock.</p>
<div class="lb-trans"><p>日元、黄金价格、美国政府停摆风险、关税、上涨的天然气价格、Starmer/Burnham 的动态以及对下一任美联储主席的猜测主导着市场头条。在这种背景下，关注德国 IFO 调查似乎有些不寻常。然而，撇开法国政治，欧元区相较于美国和英国而言，仍然是相对稳定的支柱，政策与 CPI 在 2% 的目标附近保持一致，最新的 IFO 数据引发了一些担忧。1 月份的 IFO 指标略低于预期，给德国财政刺激措施预期的规模和时机带来了不确定性。尽管对这些措施的乐观情绪依然存在，但 IFO 时钟仍将 1 月份的结果置于 “危机” 象限。各行业之间的差异显而易见，制造业表现优于服务业——与周五的 PMI 结果相反——但整体势头似乎最多只是温和。展望未来，初步的第四季度 GDP 增长数据可能在周五带来更多的清晰度。尽管共识预计环比增长 0.2%，但 2026 年第一季度 0.3% 的环比中位数预测在 IFO 时钟的左下象限当前定位下似乎过于乐观。</p>
</div><h3><strong>Overnight Headlines</strong></h3>
<div class="lb-trans"><h3><strong>隔夜头条</strong></h3>
</div><ul>
<li>Trump Raises Tariffs On S Korean To 25% Over Trade Deal Delays</li>
<li>US Links Ukraine Security Guarantees To Peace Deal Ceding Territory</li>
<li>UK Shop Price Inflation Rises To Highest Level In Nearly Two Years</li>
<li>Gold Extends Gains Above $5,000 As Debasement Trade Gathers Pace</li>
<li>Gold Boom Spurs Miners To Dig For Mother Lode In South Africa</li>
<li>UK PM Starmer: Won’t Be Forced To Choose Between US And China</li>
<li>US Natural Gas Prices Surge To 3-Year High After Winter Storm</li>
<li>FTSE Aims To Ease Path For Overseas Listings In Blue-Chip Index</li>
<li>EU Parliament Delays Decision To Unfreeze US Trade Deal</li>
<li>Europe Can’t Defend Itself Without US, NATO’s Rutte Warns</li>
<li>China’s Industrial Profits Reverse Slump As Deflation Eases</li>
<li>Micron Commits $24B To Boost Chip Output In Singapore</li>
<li>Pimco Stands By Japan Long Bonds View After $41B Rout</li>
<li>UK Call For Competition Review Of Netflix Bid For Warner Bros</li>
<li>Anta Sports To Acquire 29% Stake In Puma For $1.8B</li>
</ul>
<div class="lb-trans"><ul>
<li>特朗普因贸易协议延迟将对韩国的关税提高至 25%</li>
<li>美国将乌克兰安全保障与和平协议让出领土挂钩</li>
<li>英国商店价格通胀升至近两年来的最高水平</li>
<li>黄金价格在贬值交易加速下继续上涨，突破 5000 美元</li>
<li>黄金热潮促使矿工在南非寻找母矿</li>
<li>英国首相 Starmer：不会被迫在美国和中国之间选择</li>
<li>美国天然气价格在冬季风暴后飙升至三年高点</li>
<li>FTSE 旨在为蓝筹股指数的海外上市铺平道路</li>
<li>欧盟议会推迟决定解冻美国贸易协议</li>
<li>北约的 Rutte 警告：欧洲无法在没有美国的情况下自我防卫</li>
<li>中国工业利润在通缩缓解的情况下扭转下滑</li>
<li>美光承诺在新加坡投资 240 亿美元以提升芯片产量</li>
<li>Pimco 在 410 亿美元的抛售后仍坚持对日本长期债券的看法</li>
<li>英国呼吁对 Netflix 收购华纳兄弟的竞争审查</li>
<li>安踏体育以 18 亿美元收购 Puma 29% 的股份</li>
</ul>
</div><h3><strong>FX Options Expiries For 10am New York Cut</strong></h3>
<div class="lb-trans"><h3><strong>纽约时间上午 10 点的外汇期权到期</strong></h3>
</div><p>(1BLN+ represents larger expiries and is more magnetic when trading within the daily ATR.)</p>
<div class="lb-trans"><p>(1BLN+ 代表较大到期，交易时在日常 ATR 内更具吸引力。)</p>
</div><ul>
<li>EUR/USD: 1.1700-05 (1.2BLN), 1.1720-25 (419M), 1.1735-50 (1.43BLN)</li>
<li>1.1780 (492M), 1.1800-10 (1.7BLN), 1.1815-25 (1.9BLN), 1.1885-00 (1.3BLN)</li>
<li>USD/JPY: 156.15 (400M), 157.00 (909M), 157.50 (716M), 158.00 (334M)</li>
<li>EUR/JPY: 180.50 (294M)</li>
<li>USD/CHF: 0.7750 (265M), 0.7890 (350M)</li>
<li>GBP/USD: 1.3460-75 (418M). EUR/GBP: 0.8600 (976M), 0.8700 (527M)</li>
<li>AUD/USD: 0.6825-35 (760M), 0.6850 (239M)</li>
<li>AUD/NZD: 1.1510 (300M), 1.1560 (200M), 1.1610 (230M), 1.1660 (302M)</li>
<li>1.1700 (445M)</li>
</ul>
<div class="lb-trans"><ul>
<li>欧元/美元：1.1700-05（12 亿），1.1720-25（4.19 亿），1.1735-50（14.3 亿）</li>
<li>1.1780（4.92 亿），1.1800-10（17 亿），1.1815-25（19 亿），1.1885-00（13 亿）</li>
<li>美元/日元：156.15（4 亿），157.00（9.09 亿），157.50（7.16 亿），158.00（3.34 亿）</li>
<li>欧元/日元：180.50（2.94 亿）</li>
<li>美元/瑞士法郎：0.7750（2.65 亿），0.7890（3.5 亿）</li>
<li>英镑/美元：1.3460-75（4.18 亿）。欧元/英镑：0.8600（9.76 亿），0.8700（5.27 亿）</li>
<li>澳元/美元：0.6825-35（7.6 亿），0.6850（2.39 亿）</li>
<li>澳元/新西兰元：1.1510（3 亿），1.1560（2 亿），1.1610（2.3 亿），1.1660（3.02 亿）</li>
<li>1.1700（4.45 亿）</li>
</ul>
</div><h3><strong>CFTC Positions as of January 23rd:</strong></h3>
<div class="lb-trans"><h3><strong>截至 1 月 23 日的 CFTC 持仓情况：</strong></h3>
</div><ul>
<li>Equity fund speculators have reduced their S&amp;P 500 CME net short position by 48,733 contracts, bringing it down to 400,381. Meanwhile, equity fund managers have decreased their S&amp;P 500 CME net long position by 49,679 contracts, resulting in a total of 882,629 contracts.</li>
<li>Speculators have cut their net short position in CBOT US 5-year Treasury futures by 132,601 contracts to 2,136,519 and have also trimmed the CBOT US 10-year Treasury futures net short position by 214,865 contracts to 655,640. The CBOT US 2-year Treasury futures net short position has been reduced by 79,758 contracts to 1,225,122. In contrast, speculators have raised their CBOT US UltraBond Treasury futures net short position by 23,725 contracts, now totaling 258,822. Additionally, speculators have shifted CBOT US Treasury bonds futures to a net short position of 23,070 contracts, compared to 13,835 net longs the previous week.</li>
<li>The current Bitcoin net long position stands at 298 contracts, while the Swiss franc has a net short position of -43,207 contracts. The British pound is showing a net short position of -21,980 contracts, and the Euro has a net long position of 111,695 contracts. Finally, the Japanese yen reflects a net short position of -44,829 contracts.</li>
</ul>
<div class="lb-trans"><ul>
<li>股票基金投机者已将其在标普 500 CME 的净空头头寸减少了 48,733 份合约，降至 400,381 份。同时，股票基金经理已将其在标普 500 CME 的净多头头寸减少了 49,679 份合约，总计为 882,629 份合约。</li>
<li>投机者已将其在 CBOT 美国 5 年期国债期货的净空头头寸削减了 132,601 份合约，降至 2,136,519 份，并且还将 CBOT 美国 10 年期国债期货的净空头头寸减少了 214,865 份合约，降至 655,640 份。CBOT 美国 2 年期国债期货的净空头头寸减少了 79,758 份合约，降至 1,225,122 份。相反，投机者已将 CBOT 美国超长期国债期货的净空头头寸增加了 23,725 份合约，目前总计为 258,822 份。此外，投机者已将 CBOT 美国国债期货转为净空头头寸 23,070 份，而上周为 13,835 份净多头。</li>
<li>当前比特币的净多头头寸为 298 份合约，而瑞士法郎的净空头头寸为-43,207 份合约。英镑显示出-21,980 份合约的净空头头寸，欧元的净多头头寸为 111,695 份合约。最后，日元反映出-44,829 份合约的净空头头寸。</li>
</ul>
</div><h3><strong>Technical &amp; Trade Views</strong></h3>
<div class="lb-trans"><h3><strong>技术与交易观点</strong></h3>
</div><p>SP500</p>
<div class="lb-trans"><p>SP500</p>
</div><ul>
<li>Daily VWAP Bullish</li>
<li>Weekly VWAP Bearish</li>
<li>Above 6905 Target 7000</li>
<li>Below 6895 Target 6860</li>
</ul>
<div class="lb-trans"><ul>
<li>日均 VWAP 看涨</li>
<li>周均 VWAP 看跌</li>
<li>高于 6905 目标 7000</li>
<li>低于 6895 目标 6860</li>
</ul>
</div><p><img src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_us500_2026-01-27_09-28-40_639051011563815950.webp" alt="" original-src="https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_us500_2026-01-27_09-28-40_639051011563815950.webp"/></p>
<p>EURUSD</p>
<div class="lb-trans"><p>EURUSD</p>
</div><ul>
<li>Daily VWAP Bullish</li>
<li>Weekly VWAP Bullish</li>
<li>Above 1.18 Target 1.1930</li>
<li>Below 1.1750 Target 1.1615</li>
</ul>
<div class="lb-trans"><ul>
<li>日均 VWAP 看涨</li>
<li>周均 VWAP 看涨</li>
<li>高于 1.18 目标 1.1930</li>
<li>低于 1.1750 目标 1.1615</li>
</ul>
</div><p><img src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_eurusd_2026-01-27_09-29-22.webp" alt="" original-src="https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_eurusd_2026-01-27_09-29-22.webp"/></p>
<p>GBPUSD</p>
<div class="lb-trans"><p>GBPUSD</p>
</div><ul>
<li>Daily VWAP Bullish</li>
<li>Weekly VWAP Bullish</li>
<li>Above 1.3550 Target 13740</li>
<li>Below 1.3430 Target 1.3290</li>
</ul>
<div class="lb-trans"><ul>
<li>日均 VWAP 看涨</li>
<li>周均 VWAP 看涨</li>
<li>高于 1.3550 目标 13740</li>
<li>低于 1.3430 目标 1.3290</li>
</ul>
</div><p><img src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_gbpusd_2026-01-27_09-30-09_639051010643608918.webp" alt="" original-src="https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_gbpusd_2026-01-27_09-30-09_639051010643608918.webp"/></p>
<p>USDJPY</p>
<div class="lb-trans"><p>USDJPY</p>
</div><ul>
<li>Daily VWAP Bearish</li>
<li>Weekly VWAP Bearish</li>
<li>Above 157.75 Target 160</li>
<li>Below 156 Target 152</li>
</ul>
<div class="lb-trans"><ul>
<li>日均 VWAP 看跌</li>
<li>周均 VWAP 看跌</li>
<li>高于 157.75 目标 160</li>
<li>低于 156 目标 152</li>
</ul>
</div><p><img src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_usdjpy_2026-01-27_09-30-27_639051009413615923.webp" alt="" original-src="https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_usdjpy_2026-01-27_09-30-27_639051009413615923.webp"/></p>
<p>XAUUSD</p>
<div class="lb-trans"><p>XAUUSD</p>
</div><ul>
<li>Daily VWAP Bullish</li>
<li>Weekly VWAP Bullish</li>
<li>Above 4900 Target 5200</li>
<li>Below 4885 Target 4775</li>
</ul>
<div class="lb-trans"><ul>
<li>日均 VWAP 看涨</li>
<li>周均 VWAP 看涨</li>
<li>高于 4900 目标 5200</li>
<li>低于 4885 目标 4775</li>
</ul>
</div><p><img src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_xauusd_2026-01-27_09-30-42_639051008783146121.webp" alt="" original-src="https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_xauusd_2026-01-27_09-30-42_639051008783146121.webp"/></p>
<p>BTCUSD</p>
<div class="lb-trans"><p>BTCUSD</p>
</div><ul>
<li>Daily VWAP Bearish</li>
<li>Weekly VWAP Bearish</li>
<li>Above 89.8k Target 92k</li>
<li>Below 88.7k Target 84.3k</li>
</ul>
<div class="lb-trans"><ul>
<li>日均 VWAP 看跌</li>
<li>周均 VWAP 看跌</li>
<li>高于 89.8k 目标 92k</li>
<li>低于 88.7k 目标 84.3k</li>
</ul>
</div><p><img src="https://imageproxy.pbkrs.com/https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_btcusd_2026-01-27_09-31-02.webp" alt="" original-src="https://talkmarkets.com/contributor/marija-shutarova/user_content/ckimages/orig_btcusd_2026-01-27_09-31-02.webp"/></p>
<hr/>
<div class="lb-trans"><hr/>
</div><p><em>More By This Author:</em></p>
<div class="lb-trans"><p><em>更多来自此作者的文章：</em></p>
</div><p>The FTSE 100 Finish Line - Monday, Jan. 26</p>
<div class="lb-trans"><p>FTSE 100 收盘线 - 1 月 26 日，星期一</p>
</div><p>Daily Market Outlook - Monday, Jan. 26</p>
<div class="lb-trans"><p>每日市场展望 - 1 月 26 日，星期一</p>
</div><p>The FTSE 100 Finish Line - Friday, Jan. 23</p>
<div class="lb-trans"><p>FTSE 100 收盘线 - 1 月 23 日，星期五</p>
</div>

Daily Market Outlook - Tuesday, Jan. 27

- 全球股市连续五天上涨，MSCIA 指数接近历史高位。  
- 日元在外汇市场小幅回落，黄金和白银价格稳定。  
- 英国商店价格年增 1.5%，食品价格上涨 3.9%。

每日市场展望 - 周二，1 月 27 日