{"id":3817,"date":"2026-02-04T15:37:33","date_gmt":"2026-02-04T04:37:33","guid":{"rendered":"https:\/\/www.amillex.com\/?p=3817"},"modified":"2026-02-04T15:37:35","modified_gmt":"2026-02-04T04:37:35","slug":"amillex-daily-market-commentary-political-uncertainty-fuels-gold-rebound-above-4900","status":"publish","type":"post","link":"https:\/\/www.amillex.com\/fr\/2026\/02\/04\/amillex-daily-market-commentary-political-uncertainty-fuels-gold-rebound-above-4900\/","title":{"rendered":"Commentaire quotidien d&#039;Amillex sur les march\u00e9s | L&#039;incertitude politique alimente le rebond de l&#039;or au-dessus de 4\u00a0900 $\u00a0"},"content":{"rendered":"<p class=\"has-black-color has-text-color has-link-color wp-elements-40b4c720191c028f9f7143974cf95997\" style=\"font-size:18px\">Le 4 f\u00e9vrier 2026, les march\u00e9s financiers mondiaux ont de nouveau connu une forte volatilit\u00e9 suite \u00e0 une nomination de poids par l&#039;administration Trump. La nomination de Kevin Warsh, aux positions plus restrictives, pour succ\u00e9der \u00e0 Jerome Powell, sur le d\u00e9part, a \u00e9branl\u00e9 la confiance des march\u00e9s dans la future politique mon\u00e9taire de la R\u00e9serve f\u00e9d\u00e9rale.&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-ba2e9a6c6c097c80ba6a2d508a059d54\" style=\"font-size:18px\">Malgr\u00e9 le rebond de l&#039;indice PMI manufacturier am\u00e9ricain de janvier \u00e0 52,6, son plus haut niveau en pr\u00e8s de trois ans et demi \u2014 soulignant la r\u00e9silience et l&#039;expansion de la demande int\u00e9rieure \u2014, l&#039;indice du dollar am\u00e9ricain a paradoxalement chut\u00e9 de 0,12% \u00e0 97,42 mardi, mettant fin \u00e0 sa pr\u00e9c\u00e9dente hausse de 1,5%.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-5e42f18905b9affdc52980fec9436b99\" style=\"font-size:18px\">Port\u00e9 par cette incertitude, l&#039;or au comptant a connu un rebond spectaculaire mardi, bondissant de plus de 61\u00a0030 milliards de dollars en s\u00e9ance, enregistrant ainsi sa plus forte hausse journali\u00e8re depuis la crise financi\u00e8re de 2008. Durant la s\u00e9ance asiatique, les cours de l&#039;or se sont stabilis\u00e9s autour de 4\u00a0974 dollars, gr\u00e2ce \u00e0 la conjugaison de fondamentaux solides et de rachats de positions \u00e0 d\u00e9couvert d\u00e9clench\u00e9s par le \u00ab\u00a0choc de Warsh\u00a0\u00bb.&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-f170edda134711bc7ddb4faab9683a70\" style=\"font-size:20px\"><strong>Performance du march\u00e9 des actifs et analyse fondamentale<\/strong>&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-0819a3863ca0df6beba3bcd366ba958e\" 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-e944cca36dbe31d1d306d33f1ace9eae\" style=\"font-size:18px\"><strong>Indice industriel Dow Jones (DJI) :\u00a0<\/strong>Ferm\u00e9 \u00e0\u00a0<strong>49 240,99<\/strong>, vers le bas\u00a0<strong>167,42 points<\/strong>\u00a0ou\u00a0<strong>0,34%<\/strong>Le march\u00e9 oscille juste en dessous du seuil psychologique.\u00a0<strong>50 000 points<\/strong>\u00a0Le seuil atteint, la pression \u00e0 la vente sur les valeurs vedettes s&#039;est intensifi\u00e9e dans un contexte d&#039;incertitude croissante entourant la nomination du pr\u00e9sident de la Fed.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-066f569346e5d8ad9b1beca25e2c1164\" style=\"font-size:18px\"><strong>Indice S&amp;P 500 (SP500)\u00a0:\u00a0<\/strong>Ferm\u00e9 \u00e0\u00a0<strong>6 918,08<\/strong>, l\u00e9g\u00e8rement en baisse\u00a0<strong>0,01%<\/strong>Alors que l&#039;indice se maintenait au-dessus de\u00a0<strong>6 900<\/strong>\u00a0Au niveau actuel, les prises de b\u00e9n\u00e9fices sur les valeurs technologiques ont \u00e9t\u00e9 l\u00e9g\u00e8rement compens\u00e9es par des entr\u00e9es de capitaux dans les secteurs d\u00e9fensifs.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-6e0a7adf656d36eaab1dda73ddfaa332\" style=\"font-size:18px\"><strong>Indice Nasdaq 100 (NQ1) :\u00a0<\/strong>Ferm\u00e9 \u00e0\u00a0<strong>25 432,00<\/strong>, vers le bas\u00a0<strong>0,08%<\/strong>Les positions auparavant surrepr\u00e9sent\u00e9es dans les actions des secteurs de l&#039;IA et des semi-conducteurs subissent une pression technique suite \u00e0 une r\u00e9cente vague de d\u00e9sendettement.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-8d715533c6ec58385a9f16bb657d1e8f\" 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-3fa070c7176e3e9f2e1816557a5bc189\" style=\"font-size:18px\"><strong>Intel (INTC) :\u00a0<\/strong>Ferm\u00e9 \u00e0\u00a0<strong>49,25 USD<\/strong>, en haut\u00a0<strong>0,90%<\/strong>Le soutien du secteur de la m\u00e9moire et les fondamentaux ax\u00e9s sur la reprise ont permis \u00e0 l&#039;action de surperformer le march\u00e9 dans son ensemble.\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-f7397c4fcc210b1bc8b1b9f1722c1d25\" 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-63f46150ea91eb2f8100d8294b1be342\" style=\"font-size:18px\"><strong>Indice du dollar am\u00e9ricain (DXY) :\u00a0<\/strong>\u00c0\u00a0<strong>97.381<\/strong>, vers le bas\u00a0<strong>0,23%<\/strong>Suite \u00e0 la nomination de Kevin Warsh \u00e0 la t\u00eate de la Fed, les attentes concernant sa politique potentielle de \u00ab r\u00e9duction du bilan et de baisse des taux \u00bb ont conduit \u00e0 une r\u00e9\u00e9valuation de la liquidit\u00e9 du dollar, exer\u00e7ant une pression \u00e0 court terme sur le billet vert.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-224e59f704008254954f27a9b70c49fd\" style=\"font-size:18px\"><strong>EUR\/USD :\u00a0<\/strong>\u00c0\u00a0<strong>1.1814<\/strong>, vers le bas\u00a0<strong>0,02%<\/strong>Malgr\u00e9 la faiblesse du dollar, la mod\u00e9ration des anticipations d&#039;inflation dans la zone euro a limit\u00e9 la hausse de l&#039;euro.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-c4d5517dbab14c2315e9ad9db4e7bfa9\" style=\"font-size:18px\"><strong>USD\/JPY :\u00a0<\/strong>\u00c0\u00a0<strong>155.88<\/strong>, en haut\u00a0<strong>0,11%<\/strong>Les propos de la Premi\u00e8re ministre Sanae Takaichi, sugg\u00e9rant qu&#039;un yen plus faible favorise les exportations, ont encore r\u00e9duit les anticipations du march\u00e9 concernant une hausse des taux \u00e0 court terme de la Banque du Japon.\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-c39cbaecb9bf76e699535ea0988df6dd\" 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-417530e2642f6d99fbf28d3d3ab58936\" style=\"font-size:18px\"><strong>Or au comptant (XAUUSD) :<\/strong>\u00a0\u00c0\u00a0<strong>4\u00a0979,33 USD l&#039;once<\/strong>, rebondissant\u00a0<strong>0,66%<\/strong>\u00a0En s\u00e9ance. Apr\u00e8s avoir subi la plus forte baisse journali\u00e8re de son histoire r\u00e9cente, l&#039;or conna\u00eet un rebond apr\u00e8s une p\u00e9riode de survente.\u00a0<strong>5 000 USD<\/strong>\u00a0un niveau qui \u00e9merge comme une d\u00e9fense macropsychologique cl\u00e9.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-9db1078b2241ed6cb70cf764c77877a4\" style=\"font-size:18px\"><strong>Argent au comptant (XAGUSD) :<\/strong>\u00a0\u00c0\u00a0<strong>85,0932 USD l&#039;once<\/strong>, vers le bas\u00a0<strong>0,27%<\/strong>Apr\u00e8s une p\u00e9riode de forte volatilit\u00e9, l&#039;argent se consolide \u00e0 des niveaux techniques \u00e9lev\u00e9s, tandis que le bras de fer entre la demande industrielle et la demande de valeurs refuges s&#039;intensifie.\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-9c0808570739395283a07a5813e5227b\" style=\"font-size:18px\"><strong>P\u00e9trole brut WTI (XTIUSD) :<\/strong>\u00a0\u00c0\u00a0<strong>63,88 dollars par baril<\/strong>, vers le bas\u00a0<strong>0,09%<\/strong>Alors que les primes de risque g\u00e9opolitiques s&#039;estompaient rapidement, les prix du p\u00e9trole ont recul\u00e9 sous la barre des 100\u00a0000.\u00a0<strong>64 USD<\/strong>\u00a0niveau \u00e0 la recherche d&#039;un point bas \u00e0 court terme.\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-e95bfcffc4ef56e88ac33e6beb86e109\" style=\"font-size:18px\"><strong>4. Actifs num\u00e9riques et dynamique macro\u00e9conomique<\/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-f5cc1f046d293caf60bcf3aa0562e791\" style=\"font-size:18px\"><strong>Bitcoin (BTCUSD) :\u00a0<\/strong>\u00c0\u00a0<strong>75 890 USD<\/strong>, rebondissant\u00a0<strong>0,30%<\/strong>Apr\u00e8s la rupture ci-dessous\u00a0<strong>80 000 USD<\/strong>Les actifs sp\u00e9culatifs ont montr\u00e9 une sensibilit\u00e9 accrue aux variations des conditions de liquidit\u00e9 du dollar.\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-b4c8837ce090d23bfd13fca49d01df54\" style=\"font-size:18px\"><strong>Ethereum (ETHUSD) :\u00a0<\/strong>\u00c0\u00a0<strong>2 243,6 USD<\/strong>, en haut\u00a0<strong>0,58%<\/strong>Soutenu par des achats techniques, l&#039;ETH s&#039;est stabilis\u00e9 pr\u00e8s du niveau de r\u00e9f\u00e9rence.\u00a0<strong>2 200 USD<\/strong>\u00a0niveau de soutien, bien que les indicateurs de force relative sugg\u00e8rent qu&#039;il reste dans une posture de faible suiveur.\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-21019b0d8b61026b54145cce98b0069d\" style=\"font-size:18px\"><strong>5. Le th\u00e8me 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-1e6e1cb929cdb16ebd99c39c63b292e5\" style=\"font-size:18px\"><strong>Nouvelle-Z\u00e9lande :<\/strong>\u00a0Variation de l&#039;emploi (T\/T)\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-78db9acf2074024f091788806384bc69\" style=\"font-size:18px\"><strong>Nouvelle-Z\u00e9lande :<\/strong>\u00a0Taux de ch\u00f4mage\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-d0ba8011b8a05e95be2e1d4d476bf776\" style=\"font-size:18px\"><strong>Zone euro :<\/strong>\u00a0Estimation flash de l&#039;IPC de base (en glissement annuel)\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-be7ab60a04aba75e4c989fc9b983cef1\" style=\"font-size:18px\"><strong>Zone euro :<\/strong>\u00a0Estimation flash de l&#039;IPC (en glissement annuel)\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-dcff29aaf124df6266383302f505fd3c\" style=\"font-size:18px\"><strong>\u00c9tats-Unis:<\/strong>\u00a0\u00c9volution de l&#039;emploi non agricole selon ADP\u00a0<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-bb912f2ac6e0e0abd0deb7dda19947c1\" style=\"font-size:18px\"><strong>\u00c9tats-Unis:<\/strong>\u00a0Services ISM PMI\u00a0<\/li>\n<\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>","protected":false},"excerpt":{"rendered":"<p>On February 4, 2026, global financial markets were once again thrown into sharp volatility following a heavyweight nomination by the Trump administration. With the nomination of the more \u201chawkish-leaning\u201d Kevin Warsh to succeed the soon-to-depart Jerome Powell, market confidence in the future policy path of the Federal Reserve has been shaken.&nbsp; Despite the U.S. January [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":3838,"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-3817","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\/3817","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=3817"}],"version-history":[{"count":1,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/3817\/revisions"}],"predecessor-version":[{"id":3818,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/3817\/revisions\/3818"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media\/3838"}],"wp:attachment":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media?parent=3817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/categories?post=3817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/tags?post=3817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}