{"id":11188,"date":"2026-09-25T18:36:45","date_gmt":"2026-09-25T08:36:45","guid":{"rendered":"https:\/\/www.amillex.com\/?p=11188"},"modified":"2026-09-25T18:36:47","modified_gmt":"2026-09-25T08:36:47","slug":"amillex-daily-market-review-geopolitical-turmoil-and-hawkish-pressure-gold-pulls-back-while-oil-surges","status":"publish","type":"post","link":"https:\/\/www.amillex.com\/fr\/2026\/09\/25\/amillex-daily-market-review-geopolitical-turmoil-and-hawkish-pressure-gold-pulls-back-while-oil-surges\/","title":{"rendered":"Revue quotidienne des march\u00e9s d&#039;Amillex | Turbulences g\u00e9opolitiques et pressions bellicistes\u00a0: l&#039;or recule tandis que le p\u00e9trole s&#039;envole"},"content":{"rendered":"<p class=\"has-black-color has-text-color has-link-color wp-elements-1 wp-block-paragraph\" style=\"font-size:18px\">Le 25 septembre 2026, les march\u00e9s financiers mondiaux ont connu une forte volatilit\u00e9, aliment\u00e9e par l&#039;escalade des tensions g\u00e9opolitiques et le durcissement des anticipations de politique mon\u00e9taire. L&#039;or au comptant s&#039;\u00e9changeait autour de $4\u00a0271,36 dollars l&#039;once en d\u00e9but de s\u00e9ance asiatique, atteignant son plus bas niveau en une semaine. Cette pression \u00e0 la baisse sur l&#039;or \u00e9tait principalement due \u00e0 la hausse des prix du p\u00e9trole, qui a aliment\u00e9 les anticipations d&#039;inflation, ainsi qu&#039;\u00e0 l&#039;adoption d&#039;un discours plus restrictif par la R\u00e9serve f\u00e9d\u00e9rale et au renforcement des anticipations de hausse des taux d&#039;int\u00e9r\u00eat, ce qui a frein\u00e9 la dynamique haussi\u00e8re \u00e0 court terme.&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-2 wp-block-paragraph\" style=\"font-size:18px\">Parall\u00e8lement, les march\u00e9s de l&#039;\u00e9nergie ont connu de fortes fluctuations en raison d&#039;une escalade soudaine des tensions au Moyen-Orient. Le prix du p\u00e9trole brut WTI s&#039;est \u00e9tabli autour de 1494,40 dollars le baril, apr\u00e8s avoir atteint un sommet en une semaine suite au tir de missile des forces houthies sur l&#039;Arabie saoudite, ravivant ainsi les inqui\u00e9tudes des march\u00e9s quant aux perturbations de l&#039;approvisionnement mondial en p\u00e9trole brut. Cependant, les cours du p\u00e9trole ont r\u00e9duit leurs gains intraday apr\u00e8s l&#039;annonce de discussions entre les \u00c9tats-Unis et l&#039;Iran concernant la r\u00e9ouverture du d\u00e9troit d&#039;Ormuz. L&#039;\u00e9volution future des prix restera fortement tributaire de l&#039;\u00e9volution concr\u00e8te des conflits g\u00e9opolitiques et des indicateurs macro\u00e9conomiques am\u00e9ricains.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-black-color has-text-color has-link-color wp-elements-3\" style=\"font-size:18px\"><strong>Analyse fondamentale et de la performance des actifs<\/strong>&nbsp;<\/h3>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-4 wp-block-paragraph\" style=\"font-size:18px\"><strong>1. March\u00e9 boursier am\u00e9ricain<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-5 wp-block-paragraph\" style=\"font-size:18px\"><strong>Performance de l&#039;indice<\/strong>&nbsp;<\/p>\n\n\n\n<ul style=\"font-size:18px\" class=\"wp-block-list has-black-color has-text-color has-link-color wp-elements-6\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-7\" style=\"font-size:18px\"><strong>Indice industriel Dow Jones (DJI)<\/strong>L&#039;indice a fluctu\u00e9 dans une fourchette \u00e9troite pr\u00e8s de ses r\u00e9cents sommets. Les valeurs pond\u00e9r\u00e9es ont \u00e9volu\u00e9 avec prudence en l&#039;absence de donn\u00e9es macro\u00e9conomiques, et le march\u00e9 analyse attentivement l&#039;incertitude qui plane sur la future orientation des taux de la Fed.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul style=\"font-size:18px\" class=\"wp-block-list has-black-color has-text-color has-link-color wp-elements-8\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-9\" style=\"font-size:18px\"><strong>Indice S&amp;P 500 (SP500)<\/strong>L&#039;indice a connu une lutte acharn\u00e9e entre acheteurs et vendeurs apr\u00e8s avoir fr\u00f4l\u00e9 des seuils num\u00e9riques importants. Des pressions techniques \u00e0 la baisse sont apparues, et les capitaux se sont progressivement concentr\u00e9s sur les secteurs d\u00e9fensifs afin de se pr\u00e9munir contre les perturbations li\u00e9es aux politiques publiques.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul style=\"font-size:18px\" class=\"wp-block-list has-black-color has-text-color has-link-color wp-elements-10\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-11\" style=\"font-size:18px\"><strong>Indice Nasdaq 100 (NQ1)<\/strong>Le secteur technologique a connu des ajustements globalement divergents. Les actifs de croissance \u00e0 forte valorisation ont subi des pressions en raison de la volatilit\u00e9 des rendements \u00e0 long terme, ce qui a incit\u00e9 le march\u00e9 \u00e0 adopter une attitude attentiste.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-12 wp-block-paragraph\" style=\"font-size:18px\"><strong>Focus sur les actions individuelles<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-13\" style=\"font-size:18px\"><strong>Pomme (AAPL)<\/strong>L&#039;action a fait preuve d&#039;une forte r\u00e9silience face aux baisses survenues lors du cycle g\u00e9n\u00e9ral de vente massive des actions technologiques \u00e0 tr\u00e8s forte capitalisation, les fonds institutionnels maintenant un positionnement de consolidation de haut niveau pr\u00e8s des principaux niveaux de support.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-14 wp-block-paragraph\" style=\"font-size:18px\"><strong>2. March\u00e9 des changes<\/strong>&nbsp;<\/p>\n\n\n\n<ul style=\"font-size:18px\" class=\"wp-block-list has-black-color has-text-color has-link-color wp-elements-15\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-16\" style=\"font-size:18px\"><strong>Indice du dollar am\u00e9ricain (DXY)<\/strong>Le dollar am\u00e9ricain a maintenu une l\u00e9g\u00e8re phase de consolidation. Bien que la politique mon\u00e9taire de la Fed reste tributaire des donn\u00e9es \u00e9conomiques, les divergences d&#039;anticipations entre les liquidit\u00e9s mondiales et celles des autres grandes banques centrales exercent une pression sur le dollar, le rapprochant de seuils critiques.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul style=\"font-size:18px\" class=\"wp-block-list has-black-color has-text-color has-link-color wp-elements-17\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-18\" style=\"font-size:18px\"><strong>USD\/JPY (USDJPY)<\/strong>Le taux de change a connu de fortes fluctuations \u00e0 des niveaux \u00e9lev\u00e9s. Le bras de fer persistant entre les anticipations de normalisation de la politique mon\u00e9taire de la Banque du Japon et la r\u00e9alit\u00e9 des diff\u00e9rentiels de taux d&#039;int\u00e9r\u00eat entre les \u00c9tats-Unis et le Japon a maintenu la sensibilit\u00e9 des flux de capitaux li\u00e9s au portage.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul style=\"font-size:18px\" class=\"wp-block-list has-black-color has-text-color has-link-color wp-elements-19\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-20\" style=\"font-size:18px\"><strong>EUR\/USD (EURUSD)<\/strong>L&#039;euro a oscill\u00e9 sous des niveaux de r\u00e9sistance importants. La faiblesse de la dynamique de reprise des fondamentaux de la zone euro a limit\u00e9 sa marge de progression lors des p\u00e9riodes de faiblesse temporaire du dollar am\u00e9ricain.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-21 wp-block-paragraph\" style=\"font-size:18px\"><strong>3. M\u00e9taux pr\u00e9cieux et mati\u00e8res premi\u00e8res<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-22 wp-block-paragraph\" style=\"font-size:18px\"><strong>M\u00e9taux pr\u00e9cieux<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-23\" style=\"font-size:18px\"><strong>Or au comptant (XAUUSD)<\/strong>D&#039;apr\u00e8s les donn\u00e9es de TradingView (voir graphique ci-joint XAUUSD, H1), le cours de l&#039;or a r\u00e9cemment connu un repli correctif apr\u00e8s avoir atteint des sommets sup\u00e9rieurs \u00e0 environ $4\u00a0380 dollars l&#039;once. Apr\u00e8s une baisse intraday aux alentours de $4\u00a0245 dollars l&#039;once, il s&#039;est stabilis\u00e9 et se consolide actuellement autour de $4\u00a0267,16 dollars l&#039;once. Suite aux hausses successives observ\u00e9es plus t\u00f4t dans la journ\u00e9e, la pression des prises de b\u00e9n\u00e9fices des acheteurs s&#039;est rel\u00e2ch\u00e9e progressivement. Conjugu\u00e9e aux anticipations r\u00e9currentes de fluctuations des taux d&#039;int\u00e9r\u00eat r\u00e9els, cette situation a conduit les m\u00e9taux pr\u00e9cieux \u00e0 entrer dans une phase de correction technique de haut niveau.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-24\" style=\"font-size:18px\"><strong>Argent au comptant (XAGUSD)<\/strong>Le cours de l&#039;argent a fluctu\u00e9 au rythme g\u00e9n\u00e9ral des m\u00e9taux pr\u00e9cieux. Alliant ses caract\u00e9ristiques industrielles et de valeur refuge, son \u00e9lasticit\u00e9 intraday est rest\u00e9e nettement sup\u00e9rieure \u00e0 celle de l&#039;or.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-25 wp-block-paragraph\" style=\"font-size:18px\"><strong>mati\u00e8res premi\u00e8res<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-26\" style=\"font-size:18px\"><strong>P\u00e9trole brut (XTIUSD)<\/strong>Les prix du p\u00e9trole brut ont maintenu une structure haussi\u00e8re oscillante et r\u00e9siliente pr\u00e8s des principales bandes de r\u00e9sistance, la prime de risque g\u00e9opolitique et l&#039;incertitude concernant l&#039;offre au Moyen-Orient continuant de fournir un plancher solide et un soutien aux prix du p\u00e9trole \u00e0 court terme.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-27 wp-block-paragraph\" style=\"font-size:18px\"><strong>4. Actifs crypto et dynamique macro\u00e9conomique<\/strong>&nbsp;<\/p>\n\n\n\n<ul style=\"font-size:18px\" class=\"wp-block-list has-black-color has-text-color has-link-color wp-elements-28\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-29\" style=\"font-size:18px\"><strong>Bitcoin (BTCUSD)<\/strong>Apr\u00e8s avoir rencontr\u00e9 une r\u00e9sistance technique aux pr\u00e9c\u00e9dents sommets, les crypto-actifs ont globalement affich\u00e9 un repli soutenu par les volumes. Les anticipations d&#039;un l\u00e9ger resserrement des liquidit\u00e9s macro\u00e9conomiques ont accentu\u00e9 la propension des investisseurs \u00e0 court terme \u00e0 r\u00e9aliser des profits.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul style=\"font-size:18px\" class=\"wp-block-list has-black-color has-text-color has-link-color wp-elements-30\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-31\" style=\"font-size:18px\"><strong>Ethereum (ETHUSD)<\/strong>Les performances d&#039;Ethereum sont rest\u00e9es inf\u00e9rieures \u00e0 celles du march\u00e9 en g\u00e9n\u00e9ral. Lors des phases de mont\u00e9e de l&#039;aversion au risque, les capitaux ont eu tendance \u00e0 se diriger vers les devises traditionnelles et les actifs \u00e0 forte liquidit\u00e9, ce qui a pes\u00e9 sur sa valorisation en bourse.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-32 wp-block-paragraph\" style=\"font-size:18px\"><strong>5. \u00c9v\u00e9nements cl\u00e9s du jour<\/strong>&nbsp;<\/p>\n\n\n\n<ul style=\"font-size:18px\" class=\"wp-block-list has-black-color has-text-color has-link-color wp-elements-33\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-34\" style=\"font-size:18px\">Discours du gouverneur de la Banque d&#039;Angleterre, Mark Bailey\u00a0<\/li>\n<\/ul>\n\n\n\n<ul style=\"font-size:18px\" class=\"wp-block-list has-black-color has-text-color has-link-color wp-elements-35\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-36\" style=\"font-size:18px\">Indice de confiance des consommateurs de l&#039;Universit\u00e9 du Michigan (version finale)\u00a0<\/li>\n<\/ul>\n\n\n\n<ul style=\"font-size:18px\" class=\"wp-block-list has-black-color has-text-color has-link-color wp-elements-37\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-38\" style=\"font-size:18px\">Pr\u00e9visions d&#039;inflation de l&#039;Universit\u00e9 du Michigan (\u00c9tats-Unis) (Version finale)\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>","protected":false},"excerpt":{"rendered":"<p>On September 25, 2026, global financial markets experienced heightened volatility driven by escalating geopolitics and shifting hawkish expectations surrounding monetary policy. Spot gold traded around $4,271.36 per ounce during early Asian trading hours, hitting a one-week low intraday. This downward pressure on gold was primarily driven by rising oil prices pushing up inflation expectations, alongside 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