{"id":3092,"date":"2025-11-10T16:33:11","date_gmt":"2025-11-10T05:33:11","guid":{"rendered":"https:\/\/www.amillex.com\/?p=3092"},"modified":"2025-12-23T19:34:14","modified_gmt":"2025-12-23T08:34:14","slug":"2025119en","status":"publish","type":"post","link":"https:\/\/www.amillex.com\/fr\/2025\/11\/10\/2025119en\/","title":{"rendered":"Analyse quotidienne des march\u00e9s d&#039;Amillex\u00a0: Le dollar recule par rapport \u00e0 la barre des 100, l&#039;or se maintient \u00e0 $4\u00a0000 sur la semaine, la division de la Fed alimente la volatilit\u00e9 des march\u00e9s."},"content":{"rendered":"<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<h2 class=\"wp-block-heading\">10 novembre 2025 \u2013 L&#039;indice du dollar am\u00e9ricain a progress\u00e9 en d\u00e9but de semaine avant de se replier et de cl\u00f4turer vendredi \u00e0 99,54. Le cours de l&#039;or au comptant a oscill\u00e9 au-dessus de $130 tout au long de la semaine, se maintenant finalement au-dessus de $4\u00a0000. Le Nasdaq a chut\u00e9 de plus de 3%, les inqui\u00e9tudes concernant la valorisation des valeurs technologiques ayant refait surface. Le Bitcoin est pass\u00e9 sous la barre des $100\u00a0000 et l&#039;Ethereum a plong\u00e9 suite \u00e0 un important piratage informatique.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Analyse hebdomadaire des performances et des fondamentaux par classe d&#039;actifs<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Change : Le dollar se replie apr\u00e8s avoir atteint des sommets, tandis que les divisions au sein de la Fed s&#039;accentuent.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">L&#039;indice du dollar am\u00e9ricain a franchi la barre des 100 pour atteindre un sommet en trois mois en d\u00e9but de semaine, mais a gliss\u00e9 \u00e0 99,54 vendredi, en baisse de 0,46% sur la semaine.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Le yen japonais a fluctu\u00e9 entre 153 et 154, l&#039;inaction de la Banque du Japon limitant la dynamique de reprise.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Facteurs fondamentaux :<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Confusion politique : le gouverneur de la Fed, Milan, a appel\u00e9 \u00e0 des baisses de taux plus rapides, tandis que le pr\u00e9sident de la Fed de Cleveland, Hummack, a mis en garde contre les risques d&#039;inflation, r\u00e9duisant les chances d&#039;une baisse de taux en d\u00e9cembre \u00e0 60%.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Le vide informationnel s&#039;aggrave : la paralysie du gouvernement am\u00e9ricain a atteint son 39e jour (un record), rendant indisponibles des donn\u00e9es cl\u00e9s comme les chiffres de l&#039;emploi non agricole et l&#039;IPC, et amplifiant la volatilit\u00e9 des march\u00e9s.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">M\u00e9taux pr\u00e9cieux\u00a0: L\u2019or rebondit en V, la demande de valeurs refuges luttant contre la vigueur du dollar.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">L&#039;or au comptant a atteint un plus bas hebdomadaire de $3 930 et un plus haut de $4 060, cl\u00f4turant \u00e0 $4 001,39.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Le cours de l&#039;argent au comptant s&#039;est \u00e9tabli \u00e0 $48,35, en baisse de 0,68%, sa fourchette de n\u00e9gociation s&#039;\u00e9largissant \u00e0 $47\u201349.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Th\u00e8mes cl\u00e9s\u00a0:<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Demande de valeurs refuges : Les ventes massives d&#039;actions et la hausse des risques g\u00e9opolitiques (notamment l&#039;escalade des tensions au Venezuela) ont soutenu le cours de l&#039;or.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Pression du dollar\u00a0: La vigueur du dollar \u00e0 court terme a limit\u00e9 les gains, mais les achats des banques centrales (la Banque populaire de Chine continuant d\u2019accro\u00eetre ses r\u00e9serves) ont apport\u00e9 un soutien \u00e0 long terme.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Points de vue institutionnels\u00a0:<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">TD Securities : S&#039;attend \u00e0 ce que l&#039;or se consolide dans la fourchette $3 800\u20134 050.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Morgan Stanley pr\u00e9voit que le cours de l&#039;or atteindra $4,500 dollars en 2026.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">\u00c9nergie et mati\u00e8res premi\u00e8res : Le p\u00e9trole chute pour la deuxi\u00e8me semaine cons\u00e9cutive en raison de l&#039;aggravation du d\u00e9s\u00e9quilibre entre l&#039;offre et la demande<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Le p\u00e9trole brut WTI a chut\u00e9 de 3,2% \u00e0 $59,75 et le p\u00e9trole brut Brent a recul\u00e9 de 2,8% \u00e0 $63,63.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Facteurs baissiers\u00a0: une augmentation des stocks de l\u2019EIA plus importante que pr\u00e9vu et l\u2019incertitude concernant les plans de production de l\u2019OPEP+ compensent les primes de risque g\u00e9opolitique.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">M\u00e9taux industriels :<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Le minerai de fer a chut\u00e9 de 3,661 TP3T, la faiblesse de la demande chinoise et la hausse des stocks portuaires ayant pes\u00e9 sur le moral des consommateurs.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Le cuivre du LME s&#039;est stabilis\u00e9 \u00e0 $10\u00a0903, oscillant entre les perturbations de l&#039;approvisionnement et les inqui\u00e9tudes li\u00e9es au ralentissement de la croissance mondiale.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Cryptomonnaies\u00a0: Un piratage provoque une chute des cours\u00a0; le Bitcoin peine \u00e0 se maintenir au-dessus de 100\u00a0000\u00a0TP4T.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Le Bitcoin a chut\u00e9 de 6,31 TP3T cette semaine, atteignant bri\u00e8vement 1 TP4T99 000.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Ethereum a chut\u00e9 de plus de 81 TP3 000 apr\u00e8s que Balancer Protocol a perdu 1 TP4 000 millions de dollars lors d&#039;un piratage, alimentant la panique sur les march\u00e9s.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Donn\u00e9es sur la blockchain : les ETF crypto ont enregistr\u00e9 des sorties de fonds hebdomadaires de $1,8 milliards de dollars, dont $1,2 milliards de dollars de positions longues \u00e0 effet de levier liquid\u00e9es.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Contexte politique\u00a0: La SEC am\u00e9ricaine a renforc\u00e9 son contr\u00f4le des stablecoins, tandis que la Banque populaire de Chine a r\u00e9it\u00e9r\u00e9 sa r\u00e9pression contre la sp\u00e9culation sur les cryptomonnaies.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Actions am\u00e9ricaines\u00a0: Le Nasdaq enregistre sa pire semaine depuis avril, les valorisations technologiques se r\u00e9ajustent<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Le Nasdaq a chut\u00e9 de 3,04%, le S&amp;P 500 a perdu 1,63% et le Dow a recul\u00e9 de 1,21%.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Tendances sectorielles : Les semi-conducteurs (NVIDIA -5%) et les actions li\u00e9es \u00e0 l&#039;IA (Meta -11%) ont men\u00e9 les baisses, tandis que les actions \u00e9nerg\u00e9tiques ont affich\u00e9 de l\u00e9gers gains.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">\u00c9v\u00e9nements cl\u00e9s :<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">R\u00e9union des actionnaires de Tesla\u00a0: le plan de r\u00e9mun\u00e9ration d\u2019Elon Musk, d\u2019un montant de 1\u00a0400 milliards de dollars, a \u00e9t\u00e9 approuv\u00e9, mais le d\u00e9ploiement de la conduite enti\u00e8rement autonome (FSD) en Chine a \u00e9t\u00e9 retard\u00e9.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">OpenAI et Amazon ont sign\u00e9 un partenariat de 104 000 milliards de dollars portant sur la puissance de calcul, intensifiant ainsi la course aux investissements dans l&#039;IA.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">La semaine \u00e0 venir\u00a0: principaux \u00e9v\u00e9nements \u00e9conomiques et politiques<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">R\u00e9serve f\u00e9d\u00e9rale :<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Le pr\u00e9sident de la R\u00e9serve f\u00e9d\u00e9rale de New York, Williams, prendra la parole, et les march\u00e9s seront attentifs aux signaux concernant l&#039;\u00e9volution des taux en d\u00e9cembre.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Plusieurs responsables de la Fed doivent prendre la parole ; des commentaires accommodants pourraient stimuler l&#039;app\u00e9tit pour le risque.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Autres banques centrales\u00a0:<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">La Banque du Japon publiera le compte rendu de sa r\u00e9union d&#039;octobre\u00a0; toute indication d&#039;une hausse des taux en d\u00e9cembre pourrait soutenir le yen.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">La Banque centrale europ\u00e9enne publiera son bulletin \u00e9conomique, tandis que la r\u00e9vision du PIB de la zone euro au troisi\u00e8me trimestre sera suivie de pr\u00e8s.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Donn\u00e9es \u00e9conomiques et risques :<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Le blocage des donn\u00e9es aux \u00c9tats-Unis se poursuit\u00a0: le rapport sur l\u2019IPC d\u2019octobre pourrait \u00eatre retard\u00e9 par cette paralysie administrative, et sa publication \u00e9ventuelle pourrait d\u00e9clencher une forte volatilit\u00e9.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Les demandes initiales d&#039;allocations ch\u00f4mage restent le seul indicateur fiable \u00e0 haute fr\u00e9quence des conditions du march\u00e9 du travail.<\/h2>\n<\/blockquote>\n\n\n\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>November 10, 2025 \u2013 The U.S. dollar index rose early in the week but reversed gains, closing Friday at 99.54. Spot gold swung over $130 throughout the week, ultimately holding above $4,000. The Nasdaq fell more than 3%, as concerns over tech stock valuations resurfaced. Bitcoin dropped below $100,000, and Ethereum plunged amid a major [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[8],"tags":[],"class_list":["post-3092","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news","entry","has-media"],"_links":{"self":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/3092","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/comments?post=3092"}],"version-history":[{"count":1,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/3092\/revisions"}],"predecessor-version":[{"id":3094,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/3092\/revisions\/3094"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media\/3093"}],"wp:attachment":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media?parent=3092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/categories?post=3092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/tags?post=3092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}