{"id":3649,"date":"2026-01-21T15:07:18","date_gmt":"2026-01-21T04:07:18","guid":{"rendered":"https:\/\/www.amillex.com\/?p=3649"},"modified":"2026-01-21T15:07:19","modified_gmt":"2026-01-21T04:07:19","slug":"amillex-daily-market-commentary-safe-havens-take-the-lead-as-gold-hits-new-highs-and-bitcoin-suffers-a-sharp-pullback","status":"publish","type":"post","link":"https:\/\/www.amillex.com\/fr\/2026\/01\/21\/amillex-daily-market-commentary-safe-havens-take-the-lead-as-gold-hits-new-highs-and-bitcoin-suffers-a-sharp-pullback\/","title":{"rendered":"Commentaire quotidien d&#039;Amillex sur les march\u00e9s | Les valeurs refuges prennent l&#039;ascendant\u00a0: l&#039;or atteint de nouveaux sommets tandis que le Bitcoin subit un net repli.\u00a0"},"content":{"rendered":"<p class=\"has-black-color has-text-color has-link-color wp-elements-6749cc8dce8cc4389c9519ae8bdef194\" style=\"font-size:18px\">21 janvier 2026 \u2014 Alors que les risques de conflit commercial li\u00e9s \u00e0 la question du Groenland se propagent rapidement sur les march\u00e9s, l&#039;aversion au risque s&#039;est de nouveau intensifi\u00e9e ce matin durant la s\u00e9ance asiatique. L&#039;or au comptant a prolong\u00e9 sa forte dynamique d&#039;hier, atteignant un nouveau record historique \u00e0 4\u00a0780\u00a0$ l&#039;once mardi et se maintenant fermement au-dessus de 4\u00a0760\u00a0$, les acheteurs se pr\u00e9parant \u00e0 une nouvelle offensive vers le seuil psychologique de 4\u00a0800\u00a0$. \u00c0 l&#039;inverse, le repli de l&#039;app\u00e9tit pour le risque a refroidi le march\u00e9 des cryptomonnaies. Le Bitcoin a chut\u00e9 d&#039;environ 51\u00a0030\u00a0$ en 24\u00a0heures, touchant un plus bas intraday de 87\u00a0814,93\u00a0$, son niveau le plus faible depuis plusieurs semaines. Ce net repli souligne un net changement de strat\u00e9gie d\u00e9fensive chez les investisseurs, dans un contexte d&#039;escalade des tensions commerciales entre les \u00c9tats-Unis et l&#039;UE et de mont\u00e9e des tensions g\u00e9opolitiques. Les capitaux se d\u00e9tournent des actifs \u00e0 forte volatilit\u00e9 et des march\u00e9s financiers \u00e9mergents, les acteurs du march\u00e9 se pr\u00e9parant \u00e0 une plus grande turbulence. De mani\u00e8re g\u00e9n\u00e9rale, la tarification des actifs mondiaux est de plus en plus domin\u00e9e par la logique des valeurs refuges, et avec les politiques tarifaires et les frictions g\u00e9opolitiques qui continuent de s&#039;intensifier, la volatilit\u00e9 des march\u00e9s est entr\u00e9e dans une nouvelle phase d&#039;expansion.&nbsp;<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-text-align-center has-black-color has-text-color has-link-color wp-elements-36d0a7ca3d04cc5eca8992d784cfdfe1\" style=\"font-size:20px\"><strong>Analyse fondamentale et de la performance des actifs<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-886757c2f4fa2629eded2bc0941eb3e0\" style=\"font-size:18px\"><strong>1. March\u00e9s boursiers am\u00e9ricains<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-11a8b7ba65f6a75934a331b5b63d7d73\" style=\"font-size:18px\"><strong>Performance de l&#039;indice<\/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-1da60270ef49f187430a12214dfe132d\" style=\"font-size:18px\"><strong>Indice Dow Jones\u00a0:<\/strong>\u00a0Aux alentours de 48\u00a0500 (-1,34%). L\u2019aversion au risque s\u2019est accentu\u00e9e, les valeurs industrielles les plus lourdes accusant les plus fortes baisses, l\u2019indice passant sous la barre des 49\u00a0000.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-e0c77655e3d3fce681ce8432539e274b\" style=\"font-size:18px\"><strong>S&amp;P 500\u00a0:<\/strong>\u00a0Aux alentours de 6\u00a0800 (-1,61%). L\u2019indice n\u2019a pas r\u00e9ussi \u00e0 se maintenir au-dessus de 7\u00a0000, ce qui a entra\u00een\u00e9 d\u2019importantes prises de b\u00e9n\u00e9fices.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-1ab03552a5d8878884778e1c68d60735\" style=\"font-size:18px\"><strong>Nasdaq Composite :<\/strong>\u00a0Environ 25\u00a0200 (-1,85%). Les anciens leaders du march\u00e9, notamment les valeurs technologiques, ont subi de plein fouet la vague de ventes d&#039;aujourd&#039;hui.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-b0fb36219ddd3c16d07e55c7a9d46e89\" style=\"font-size:18px\"><strong>Mise en avant de l&#039;action<\/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-f3a76f00d4a7625fdd77d0f8f2f51b61\" style=\"font-size:18px\"><strong>Apple (AAPL) :<\/strong>\u00a0Autour de $246,86 (-3,39%). Les d\u00e9clarations de l&#039;administration Trump concernant d&#039;\u00e9ventuels droits de douane sur les produits indiens et d&#039;autres centres de production ont accentu\u00e9 les inqui\u00e9tudes quant aux co\u00fbts de la cha\u00eene d&#039;approvisionnement mondiale d&#039;Apple. Malgr\u00e9 des r\u00e9sultats r\u00e9cemment sup\u00e9rieurs aux attentes, l&#039;incertitude politique a fait chuter le cours de l&#039;action sous des seuils de support technique cl\u00e9s.\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-42152a871d3dabd162f0c799ba2ccf13\" style=\"font-size:18px\"><strong>2. March\u00e9 des changes<\/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-66254cf95c6955a843a463ecde42e40f\" style=\"font-size:18px\"><strong>Indice du dollar am\u00e9ricain (DXY) :<\/strong>\u00a0Aux alentours de 98,60. Soutenu par la demande de valeurs refuges, le dollar s&#039;est redress\u00e9 apr\u00e8s avoir atteint ses plus bas niveaux en d\u00e9but de s\u00e9ance, les anticipations d&#039;un dollar fort ayant refait surface. L&#039;indice reste plafonn\u00e9 sous le seuil psychologique de 100, dans l&#039;attente de signaux politiques plus clairs.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-a8d64976ac24a5896efae016074beec8\" style=\"font-size:18px\"><strong>EUR\/USD :<\/strong>\u00a0Aux alentours de 1,1720, l&#039;euro reste sous pression face aux menaces persistantes de droits de douane am\u00e9ricains visant plusieurs \u00e9conomies europ\u00e9ennes.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-5ec786ff668eb93533626b6b53ad1fa8\" style=\"font-size:18px\"><strong>USD\/JPY :<\/strong>\u00a0Aux alentours de 158,20. Bien que le yen b\u00e9n\u00e9ficie d&#039;un certain soutien aux alentours de 158, la r\u00e9silience des rendements des bons du Tr\u00e9sor am\u00e9ricain continue d&#039;alimenter les op\u00e9rations de portage.\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-ff6a8b443a8bd973ca90a6f1108af1cf\" 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-b9d2a43e4b09b236014778d494e44575\" style=\"font-size:18px\"><strong>M\u00e9taux pr\u00e9cieux<\/strong>\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-1b59613853619359013084aa6f28db21\" style=\"font-size:18px\"><strong>Or au comptant (XAUUSD) :\u00a0<\/strong>Objectif\u00a0: $4\u00a0800. L\u2019or a enregistr\u00e9 une hausse exceptionnelle aujourd\u2019hui, port\u00e9e par un double facteur\u00a0: les tensions g\u00e9opolitiques li\u00e9es au Groenland et l\u2019escalade des frictions commerciales entre les \u00c9tats-Unis et l\u2019UE. Les flux de capitaux vers les valeurs refuges ont explos\u00e9, le prix se situant autour de $4\u00a0780, un nouveau record.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-8e375e9300552f74bcfc1b654249146d\" style=\"font-size:18px\"><strong>Argent au comptant (XAGUSD) :\u00a0<\/strong>Franchissement de $95. L&#039;argent a connu une forte acc\u00e9l\u00e9ration apr\u00e8s avoir franchi $93, atteignant un pic intraday de $95,80\/oz, un nouveau record historique.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-9475610fc825ef459f8fc74a4c4a5372\" 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-5d7b26dea0d5013d179a4d33345695aa\" style=\"font-size:18px\"><strong>P\u00e9trole brut WTI :<\/strong>\u00a0Autour de $59,67\/baril, l&#039;attention du march\u00e9 se portant d\u00e9sormais sur les pr\u00e9occupations li\u00e9es \u00e0 la demande en l&#039;absence de nouveaux catalyseurs haussiers.\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-d532b64c1e575daf8e2c7edb10fc8fcd\" style=\"font-size:18px\"><strong>4. Actifs crypto et \u00e9volutions macro\u00e9conomiques<\/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-a1b334e94460a2cab851cde2b28542aa\" style=\"font-size:18px\"><strong>Bitcoin (BTC) :\u00a0<\/strong>Pression sur le risque\u00a0: le Bitcoin teste le support \u00e0 $88K. Dans un contexte de tensions commerciales entre les \u00c9tats-Unis et l\u2019UE et de ventes g\u00e9n\u00e9ralis\u00e9es d\u2019actifs \u00e0 risque, les inqui\u00e9tudes concernant la liquidit\u00e9 ont emp\u00each\u00e9 le Bitcoin de progresser au m\u00eame rythme que l\u2019or et l\u2019ont au contraire contraint \u00e0 subir une pression notable.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-931427b2998cb6655029b892a0e0a4f4\" style=\"font-size:18px\"><strong>Ethereum (ETH) :\u00a0<\/strong>Repli et chute sous les 3\u00a0000\u00a0TP4T. Apr\u00e8s une br\u00e8ve tentative de stabilisation au-dessus des 3\u00a0100\u00a0TP4T, Ethereum a fortement recul\u00e9, suivant la tendance g\u00e9n\u00e9rale du march\u00e9, et se n\u00e9gocie actuellement autour des 2\u00a0980\u00a0TP4T.\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-c86e4e0f0cd58cc4f8880a2506415f57\" style=\"font-size:18px\"><strong>5.&nbsp;<\/strong><strong>Sujet du jour<\/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-7aab9869d490acbe7900895c06e9bb15\" style=\"font-size:18px\">Discours du pr\u00e9sident de la Banque nationale suisse (BNS), Schlegel\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-692fbc79b45e04f102a6c35b9793d49b\" style=\"font-size:18px\">IPC britannique de d\u00e9cembre (en glissement annuel)\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-238ebd4264bd0379f2ede9a8cafc57a3\" style=\"font-size:18px\">Discours de la pr\u00e9sidente de la BCE, Christine Lagarde\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-4529d3e801dc5f54f37ffe215feb9284\" style=\"font-size:18px\">R\u00e9union annuelle du Forum \u00e9conomique mondial (WEF) \u2014 Jour 3\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-8b97ac7fca1b22479b282b78b8aee76d\" style=\"font-size:18px\">Discours du pr\u00e9sident des \u00c9tats-Unis\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>January 21, 2026 \u2014 As trade conflict risks linked to the Greenland issue spill rapidly across markets, global risk-off sentiment intensified again during the Asian session this morning. Spot gold extended yesterday\u2019s strong momentum, setting a fresh all-time high at $4,780\/oz on Tuesday and currently holding firmly above $4,760, with bulls gathering strength for a [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":3651,"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-3649","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\/3649","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\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/comments?post=3649"}],"version-history":[{"count":1,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/3649\/revisions"}],"predecessor-version":[{"id":3650,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/3649\/revisions\/3650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media\/3651"}],"wp:attachment":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media?parent=3649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/categories?post=3649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/tags?post=3649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}