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ACCM:美国PPI走软提振欧元,美元兑日元回落

2025-11-26 12:11:18

美国最新公布的生产者物价指数(PPI)整体表现偏弱,带动欧元兑美元快速走强。美国核心PPI录得0.1%,低于市场预期的0.2%,并从此前的-0.1%回升,显示供应链上的通胀压力仍在进一步缓解。


整体PPI则与预期一致,录得0.3%的涨幅,其中商品成本上涨是主要推动力。能源价格在当月上涨3.5%,食品上涨1.1%,而汽油价格的飙升最为显著,单月跳涨11.8%,成为能源成本升幅的核心来源。


Chart 3 (12).png

EURUSD H4


数据公布后,EURUSD迅速拉升,从1.15的枢纽位置及200周期均线附近强势反转上行,目前行情逼近1.16一带,而上方的下降趋势线也与该水平重合,使得短期内面临一定的技术性阻力,行情随时可能在此区域出现放缓或回调。


与此同时,USDJPY出现明显回落,汇价跌破上升趋势线与156关口,伴随MACD指标的明显背离,显示上行动能已经耗尽。行情目前正朝155的关键枢纽位置靠近,预计短期内将对该水平展开测试。


Chart 4 (13).png

USDJPY H1


此外,欧洲央行行长克里斯蒂娜·拉加德在周一发表讲话,强调人工智能(AI)对全球经济结构的巨大变革力量。她指出,全球企业去年在AI领域的投资金额超过2520亿美元,并强调欧洲必须加快拆除制度性与结构性障碍,否则将在AI发展的全球竞赛中落后。


Chart 5 (2).png

EURGBP H1


受此影响,EURGBP出现急速下跌,汇价逼近0.8750附近的枢纽点,并在此过程中出现MACD背离迹象。随着空方动能增强,汇价大概率将继续向下,测试与100周期均线重叠的上升趋势线区域,以寻求新的潜在支撑。





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