{"id":3317,"date":"2025-12-05T19:34:18","date_gmt":"2025-12-05T08:34:18","guid":{"rendered":"https:\/\/www.amillex.com\/?p=3317"},"modified":"2025-12-24T15:03:35","modified_gmt":"2025-12-24T04:03:35","slug":"2025125en","status":"publish","type":"post","link":"https:\/\/www.amillex.com\/fr\/2025\/12\/05\/2025125en\/","title":{"rendered":"Commentaire quotidien d&#039;Amillex sur les march\u00e9s\u00a0: Les demandes d&#039;allocations ch\u00f4mage alimentent les anticipations de baisse des taux, les actions am\u00e9ricaines ouvrent en hausse, le Nikkei bondit de 2,31 points \u00e0 un sommet annuel, l&#039;argent recule de 31 points, le cuivre se replie pour des raisons techniques."},"content":{"rendered":"<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<h2 class=\"wp-block-heading\">5 d\u00e9cembre 2025 \u2014 Les march\u00e9s boursiers am\u00e9ricains ont ouvert en nette hausse jeudi, le Nasdaq gagnant 0,311 point. L&#039;indice Nikkei 225 japonais a bondi de 2,331 points \u00e0 51\u00a0028, atteignant un nouveau sommet annuel. L&#039;indice du dollar am\u00e9ricain s&#039;est maintenu autour de 99, tandis que le yen s&#039;est appr\u00e9ci\u00e9 en s\u00e9ance. Le cours de l&#039;argent au comptant a chut\u00e9 de 31 points \u00e0 1,4 point, soit 56,72 dollars l&#039;once, tandis que celui du cuivre au LME a recul\u00e9 de pr\u00e8s de 11 points suite \u00e0 un repli technique.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Principaux mouvements du march\u00e9 et analyse fondamentale<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">1. Actions am\u00e9ricaines : Le secteur technologique tire les gains, le secteur des m\u00e9taux pr\u00e9cieux bondit de 5,71 points gr\u00e2ce \u00e0 l&#039;optimisme suscit\u00e9 par les r\u00e9sultats.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">S&amp;P 500 +0,24% \u00e0 6\u00a0866,47<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Dow Jones +0,01%<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Nasdaq +0,31% \u00e0 23\u00a0527<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Performance du secteur :<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">ETF du secteur financier +0,53%<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">ETF \u00c9nergie +0,27%<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">ETF semi-conducteurs \u22120,54%<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Points saillants du titre\u00a0:<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Meta Platforms +5,7% : Les rumeurs du march\u00e9 sugg\u00e8rent que Meta pr\u00e9voit de r\u00e9duire son budget m\u00e9tavers de 30% et de recentrer ses d\u00e9penses sur l&#039;IA, ce qui augmente consid\u00e9rablement les pr\u00e9visions de b\u00e9n\u00e9fices.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Snowflake \u22129,7%\u00a0: Les valorisations ont \u00e9t\u00e9 affect\u00e9es par les inqui\u00e9tudes croissantes concernant le ralentissement de la demande de services cloud.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Pilotes principaux\u00a0:<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Les demandes d&#039;allocations ch\u00f4mage d\u00e9passent les pr\u00e9visions\u00a0:<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Les demandes initiales d&#039;allocations ch\u00f4mage hebdomadaires ont chut\u00e9 \u00e0 191\u00a0000, leur plus bas niveau en trois ans. Cependant, la faiblesse des donn\u00e9es ADP sur l&#039;emploi maintient la probabilit\u00e9 d&#039;une baisse des taux de la Fed en d\u00e9cembre au-dessus de 901\u00a0%.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Des attentes de liquidit\u00e9s faibles :<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Les prix des swaps de taux d&#039;int\u00e9r\u00eat sugg\u00e8rent que les op\u00e9rateurs consid\u00e8rent une baisse de taux de 25 points de base en d\u00e9cembre comme \u00e9tant d\u00e9j\u00e0 pratiquement enti\u00e8rement int\u00e9gr\u00e9e aux cours.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">2. March\u00e9s Asie-Pacifique\u00a0: Les actions japonaises m\u00e8nent la hausse mondiale, les rendements des obligations d\u2019\u00c9tat japonaises se replient apr\u00e8s avoir atteint des sommets historiques<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Nikkei 225 +2.33%<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">TOPIX +1,9%<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Le rendement des obligations d&#039;\u00c9tat japonaises \u00e0 30 ans a grimp\u00e9 jusqu&#039;\u00e0 3,445%, son plus haut niveau depuis 1999.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Contexte politique\u00a0:<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">La probabilit\u00e9 d&#039;une hausse des taux de la Banque du Japon en d\u00e9cembre est pass\u00e9e \u00e0 70%.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">La derni\u00e8re vente aux ench\u00e8res d&#039;obligations d&#039;\u00c9tat japonaises \u00e0 30 ans a enregistr\u00e9 un ratio offre\/couverture de 4,04, le plus \u00e9lev\u00e9 depuis 2019.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Flux de capitaux :<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Le yen s&#039;est appr\u00e9ci\u00e9 en cours de s\u00e9ance, l&#039;apaisement des inqui\u00e9tudes budg\u00e9taires au Japon ayant attir\u00e9 des flux de capitaux \u00e9trangers vers les actions japonaises.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">La roupie indienne s&#039;est affaiblie \u00e0 90,4175, un niveau record, alors que le blocage prolong\u00e9 des n\u00e9gociations commerciales a entra\u00een\u00e9 des sorties de capitaux.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">3. M\u00e9taux pr\u00e9cieux et mati\u00e8res premi\u00e8res\u00a0: l\u2019argent recule apr\u00e8s avoir atteint des sommets, la prime g\u00e9opolitique du p\u00e9trole s\u2019accro\u00eet<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Argent au comptant -3% \u00e0 $56,72\/oz<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Or au comptant\u00a0: \u22120,2% \u00e0 $4,194\u00a0$\/oz<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Interpr\u00e9tation technique :<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Les niveaux de surachat du RSI ont d\u00e9clench\u00e9 des prises de b\u00e9n\u00e9fices sur le march\u00e9 de l&#039;argent, m\u00eame si la forte demande photovolta\u00efque continue de soutenir le d\u00e9ficit d&#039;approvisionnement \u00e0 long terme.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Huile brute:<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Le p\u00e9trole brut WTI augmente de 0,31 TP3T \u00e0 $59,33 $\/baril<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Le bras de fer entre l&#039;offre et la demande :<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Les stocks de p\u00e9trole brut de l&#039;EIA am\u00e9ricaine ont augment\u00e9 de 574 000 barils (contre des pr\u00e9visions tablant sur une baisse de 800 000 barils).<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Toutefois, l\u2019engagement de l\u2019UE \u00e0 prolonger son embargo sur le p\u00e9trole russe jusqu\u2019en 2027 a raviv\u00e9 les inqui\u00e9tudes concernant l\u2019approvisionnement \u00e0 long terme.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">M\u00e9taux industriels :<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Cuivre LME \u22121% \u00e0 $11\u00a0377\/tonne<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Ce repli est consid\u00e9r\u00e9 comme technique apr\u00e8s la forte hausse r\u00e9cente, tandis que le contexte de faibles stocks reste inchang\u00e9.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">4. March\u00e9s des cryptomonnaies et des obligations\u00a0: le Bitcoin se replie, la courbe des taux am\u00e9ricains se redresse<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Bitcoin \u22120,7% \u00e0 $93\u00a0075<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Ethereum +0,6%, surperformant le march\u00e9 dans son ensemble<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Pression r\u00e9glementaire :<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">La SEC am\u00e9ricaine continue de renforcer son contr\u00f4le sur les stablecoins, tandis que la Banque populaire de Chine a r\u00e9it\u00e9r\u00e9 sa lutte contre le commerce ill\u00e9gal de cryptomonnaies.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">March\u00e9 obligataire :<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Le rendement des obligations du Tr\u00e9sor am\u00e9ricain \u00e0 10 ans a augment\u00e9 de 2 points de base pour atteindre 4,08%, alors que des donn\u00e9es plus robustes sur les demandes d&#039;allocations ch\u00f4mage ont temporairement frein\u00e9 la demande de valeurs refuges.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">L&#039;objectif du jour<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Indice des prix PCE de base am\u00e9ricain de septembre<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Pr\u00e9visions du march\u00e9\u00a0: 2,81\u00a0TP3T en glissement annuel<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Un taux inf\u00e9rieur \u00e0 2,7% pourrait entra\u00eener une baisse des taux de la Fed en d\u00e9cembre.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">PIB de la zone euro au troisi\u00e8me trimestre (chiffre d\u00e9finitif)<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Rapport sur l&#039;emploi au Canada<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Si le taux de ch\u00f4mage d\u00e9passe 5,5%, le dollar canadien pourrait subir des pressions.<\/h2>\n<\/blockquote>","protected":false},"excerpt":{"rendered":"<p>December 5, 2025 \u2014 U.S. equity markets opened broadly higher on Thursday, with the Nasdaq up 0.31%. Japan\u2019s Nikkei 225 surged 2.33% to 51,028, hitting a new high for the year. The U.S. dollar index hovered near the 99 level as the yen strengthened intraday. Spot silver plunged 3% to $56.72\/oz, while LME copper slid [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3318,"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-3317","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\/3317","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=3317"}],"version-history":[{"count":1,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/3317\/revisions"}],"predecessor-version":[{"id":3319,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/3317\/revisions\/3319"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media\/3318"}],"wp:attachment":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media?parent=3317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/categories?post=3317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/tags?post=3317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}