On April 30, data released by the U.S. Department of Commerce showed that core capital goods orders, excluding aircraft and military equipment, surged by 3.3% month-on-month in March, significantly surpassing the market expectation of 0.5%. This marks the largest monthly increase since mid-2020. The robust capital investment trend, sustained for over a year, has been partly driven by continued corporate spending in the artificial intelligence sector. Overall durable goods orders also showed strong performance. The preliminary reading for March durable goods orders recorded a 0.8% month-on-month increase, higher than the expected 0.5%, rebounding significantly from the previous figure of -1.3%. Core durable goods orders, excluding transportation, rose 0.9% month-on-month, also exceeding the forecast of 0.4%. These figures collectively point to a broad marginal improvement in manufacturing demand and provide positive signals for the equipment investment component in the second-quarter GDP.

Furthermore, Federal Reserve Chair Jerome Powell stated during a press conference that current policy remains "appropriate," but inflation remains elevated, and the central bank faces dual risks of "controlling inflation" and "stabilizing growth." Powell noted that the Fed's mission involves dual risks: the unemployment rate has changed little, but labor demand has weakened; recent inflation has risen and remains high, with the March PCE inflation rate projected at 3.5%. Rising energy prices are expected to push short-term inflation higher. During the Q&A session, he added that inflation is a problem the Fed needs to address, and the commitment to bringing inflation down to 2% is "unending and unwavering." Powell also acknowledged the difficulty of reaching a consensus among his 19 colleagues. The previously released resolution indicated that committee members passed the interest rate decision with an 8-4 vote, with three members "opposing the inclusion of a dovish bias in the statement."

Key data to watch today include the Eurozone's April harmonized CPI year-on-year, the preliminary Eurozone Q1 seasonally adjusted GDP quarter-on-quarter, the Eurozone March unemployment rate, the U.S. preliminary Q1 annualized GDP quarter-on-quarter, U.S. initial jobless claims for the week ending April 25, Canada's February seasonally adjusted GDP month-on-month, and the U.S. April Chicago PMI. Additionally, the European Central Bank and the Bank of England will announce their interest rate decisions in the evening, requiring close attention.

Gold / U.S. Dollar Gold edged lower yesterday, recording a slight decline on the daily chart, with the current exchange rate hovering around 4560. The Federal Reserve's decision to hold rates steady, coupled with further delayed expectations for rate cuts, supported a rebound in the U.S. dollar index, which in turn pressured gold. Moreover, strong economic data released during the session also contributed to the downward pressure on gold. Today, focus is on resistance near 4600, with support around 4500.

Australian Dollar / U.S. Dollar The Australian dollar declined yesterday, narrowly holding above the 0.7100 level and hitting an 11-day low. The current exchange rate is trading around 0.7120. Apart from profit-taking and technical selling pressure near the 0.7200 level, the U.S. dollar index's rise, supported by robust economic data and diminished expectations for Fed rate cuts, also weighed on the pair. Additionally, weak economic data from Australia during the session exerted further downward pressure. Today, attention is on resistance near 0.7200, with support around 0.7050.

U.S. Dollar / Japanese Yen The U.S. dollar / Japanese yen pair advanced yesterday, breaking through the 160.00 level, with the current exchange rate trading around 160.50. Besides the U.S. dollar index's strength, fueled by favorable economic data and reduced Fed rate cut expectations, a breakthrough above the 160.00 resistance level attracted technical buying, providing additional support. However, concerns over potential intervention by the Bank of Japan to stabilize the currency limited the pair's upside. Today, watch for resistance near 161.50, with support around 159.50.