[Goldman Sachs: Market's Bet on Fed Rate Hike "Too Hawkish," Falling Inflation Weakens Likelihood of September Rate Hike] 1. In a research report released Sunday, Goldman Sachs Chief Economist Jan Hatzius pointed out that due to factors such as weak retail sales data, weaker-than-expected employment data, and continued slowing inflation, the likelihood of a rate hike at the Fed's September meeting has become "extremely low." He stated that, based on benchmark economic forecasts, the probability of inflation data improving further over time is higher than a relapse, and the market's pricing in the federal funds rate remains "too hawkish." 2. Traders have postponed their expectations for the Fed's next 25-basis-point rate hike to January next year, while just a week ago the market was fully pricing in a December rate hike. Goldman Sachs believes that although the market's hawkish bias has weakened, there is still room for a correction in expectations, and the possibility of the Fed holding rates steady may be further digested later.

The Australian dollar just touched the 113.00 level against the Japanese yen, and is currently trading at 113.00, up 0.14% on the day.

[Spot Gold Technical Analysis: Focus on the $4420 Resistance Level] 1. From a technical perspective, spot gold may retest the $4420 resistance level per ounce. If this resistance is effectively broken, the price could potentially rise further to the $4446-$4481 range. 2. From a wave structure analysis, the upward cycle that started near $4020 is not yet complete. The current fifth wave is advancing towards the peak of the third wave (approximately $4446), and this wave has the potential to break through this level. 3. Short-term support is at $4381. If this level is breached, the price may fall back to the $4320-$4351 range. 4. On the daily chart, the price has broken upwards through the previous downtrend line that had been suppressing the price action. The recent consolidation can be seen as a pullback to confirm this trend line. As long as the price remains stable above $4310, it is still expected to rise further to the $4533-$4672 area in the medium term.