{"id":9655,"date":"2026-08-04T16:46:15","date_gmt":"2026-08-04T06:46:15","guid":{"rendered":"https:\/\/www.amillex.com\/?p=9655"},"modified":"2026-08-04T16:46:17","modified_gmt":"2026-08-04T06:46:17","slug":"amillex-daily-market-commentary-geopolitical-fog-persists-golds-safe-haven-premium-tug-of-war-with-plunging-oil-prices","status":"publish","type":"post","link":"https:\/\/www.amillex.com\/fr\/2026\/08\/04\/amillex-daily-market-commentary-geopolitical-fog-persists-golds-safe-haven-premium-tug-of-war-with-plunging-oil-prices\/","title":{"rendered":"Commentaire quotidien d&#039;Amillex sur les march\u00e9s | Persistance du brouillard g\u00e9opolitique\u00a0: le bras de fer entre la prime de valeur refuge de l&#039;or et la chute des prix du p\u00e9trole"},"content":{"rendered":"<p class=\"has-black-color has-text-color has-link-color wp-elements-1 wp-block-paragraph\" style=\"font-size:18px\">4 ao\u00fbt 2026 \u2013 Les march\u00e9s mondiaux des mati\u00e8res premi\u00e8res ont entam\u00e9 la premi\u00e8re s\u00e9ance de la semaine dans un contexte de fortes tensions et de volatilit\u00e9 r\u00e9gionale. Mardi matin, en Asie, le cours de l&#039;or au comptant s&#039;est stabilis\u00e9 autour de 1\u00a0405 $\/oz, dans une fourchette de prix \u00e9troite. Malgr\u00e9 une situation de blocage d\u00e9licate et intermittente li\u00e9e aux tensions r\u00e9gionales, les craintes d&#039;inflation persistantes, aliment\u00e9es par les troubles sociaux, continuent de soutenir les cours de l&#039;or. Parall\u00e8lement, les anticipations concernant la politique mon\u00e9taire de la R\u00e9serve f\u00e9d\u00e9rale am\u00e9ricaine divergent de plus en plus, les march\u00e9s suivant de pr\u00e8s la publication du rapport sur l&#039;emploi non agricole (NFP) aux \u00c9tats-Unis afin d&#039;ajuster leurs pr\u00e9visions quant \u00e0 la trajectoire mon\u00e9taire de la Fed.<\/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\">Contrairement \u00e0 la stabilit\u00e9 prudente de l&#039;or, le march\u00e9 du p\u00e9trole brut a subi une chute vertigineuse. Le brut am\u00e9ricain a chut\u00e9 de plus de 71\u00a0300 milliards de dollars en une seule s\u00e9ance, passant sous le seuil des 1\u00a0480 milliards de dollars le baril. Cette forte baisse a \u00e9t\u00e9 provoqu\u00e9e par l&#039;annonce soudaine par les \u00c9tats-Unis d&#039;un moratoire sur leurs op\u00e9rations militaires dans la r\u00e9gion et de leur intention de reprendre les n\u00e9gociations sur la navigation dans un d\u00e9troit strat\u00e9gique, ce qui a rapidement fait dispara\u00eetre la prime de risque sur l&#039;offre. Cependant, la partie adverse a rapidement ni\u00e9 tout contact direct et a fermement rejet\u00e9 les demandes d&#039;ouverture de voies de navigation non nationales. Ces signaux extr\u00eamement incertains et volatils indiquent que les risques pesant sur les routes d&#039;approvisionnement maritime sont loin d&#039;\u00eatre \u00e9cart\u00e9s\u00a0; les prix du p\u00e9trole et de l&#039;or resteront extr\u00eamement sensibles aux prochains chocs m\u00e9diatiques.<\/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-3 wp-block-paragraph\" style=\"font-size:18px\"><strong>Analyse fondamentale et de la performance des actifs<\/strong><\/p>\n\n\n\n<div style=\"height:50px\" 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-4 wp-block-paragraph\" style=\"font-size:18px\"><strong>1. March\u00e9s boursiers am\u00e9ricains<\/strong><\/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><\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-6 wp-block-paragraph\" style=\"font-size:18px\"><strong>\u2022 Indice Dow Jones (DJI) :<\/strong> Cl\u00f4ture \u00e0 53\u00a0183,31, en hausse de 693,05 points (+1,32%). Les valeurs traditionnelles et les leaders cycliques ont enregistr\u00e9 d&#039;importants afflux de capitaux, se d\u00e9marquant dans un contexte de rotation sectorielle g\u00e9n\u00e9ralis\u00e9e.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-7 wp-block-paragraph\" style=\"font-size:18px\"><strong>\u2022 Indice S&amp;P 500 (SP500)<\/strong>L&#039;indice a cl\u00f4tur\u00e9 \u00e0 7\u00a0614,55 points, en l\u00e9g\u00e8re hausse de 3,75 points (+0,05%). Il a \u00e9volu\u00e9 pr\u00e8s de ses plus hauts historiques, au-dessus de 7\u00a0600 points, avec une nette divergence interne, les secteurs d\u00e9fensifs compensant la performance des grandes capitalisations de croissance.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-8 wp-block-paragraph\" style=\"font-size:18px\"><strong>\u2022 Indice Nasdaq 100 (NQ1 !)<\/strong>Cl\u00f4ture \u00e0 28\u00a0895,75, en hausse de 4,00 points (+0,01%). Les valeurs technologiques \u00e0 forte capitalisation se sont consolid\u00e9es \u00e0 des niveaux \u00e9lev\u00e9s, dans un contexte d&#039;analyse des r\u00e9sultats et de r\u00e9ajustement des valorisations.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-9 wp-block-paragraph\" style=\"font-size:18px\"><strong>Points saillants de l&#039;action<\/strong><\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-10 wp-block-paragraph\" style=\"font-size:18px\"><strong>\u2022 Alphabet (GOOG)<\/strong>L&#039;action a bondi de 4,88% pour cl\u00f4turer \u00e0 $373,51, enregistrant la plus forte hausse des valeurs technologiques \u00e0 forte capitalisation. Cette performance t\u00e9moigne de la grande confiance du march\u00e9 dans le retour sur investissement de ses d\u00e9penses d&#039;investissement et dans le potentiel de mon\u00e9tisation de son \u00e9cosyst\u00e8me d&#039;IA.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-11 wp-block-paragraph\" style=\"font-size:18px\"><strong>\u2022 Amazon (AMZN)<\/strong>: Rose 4.58% pour cl\u00f4turer \u00e0 $284.02, stimul\u00e9 par deux catalyseurs : la croissance du cloud et la demande r\u00e9siliente des consommateurs.<\/p>\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>\u2022 Tesla (TSLA)<\/strong>: A gagn\u00e9 3,49% pour cl\u00f4turer \u00e0 $322,08, avec son \u00e9lan \u00e0 b\u00eata \u00e9lev\u00e9 relanc\u00e9 par des attentes d&#039;atterrissage en douceur macro\u00e9conomique.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-13 wp-block-paragraph\" style=\"font-size:18px\"><strong>\u2022 Intel (INTC) :<\/strong> Le cours a l\u00e9g\u00e8rement augment\u00e9 de 0,89% pour atteindre $91,00, alors que des acheteurs opportunistes sont apparus dans le secteur de la fabrication de semi-conducteurs.<\/p>\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>\u2022 Apple (AAPL)<\/strong>: A chut\u00e9 de 1,78% pour cl\u00f4turer \u00e0 $303,42, tir\u00e9 vers le bas par des ajustements \u00e0 court terme de la cha\u00eene d&#039;approvisionnement et l&#039;h\u00e9sitation des consommateurs avant les nouveaux cycles de produits, ce qui a entra\u00een\u00e9 des prises de b\u00e9n\u00e9fices notables.<\/p>\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-15 wp-block-paragraph\" style=\"font-size:18px\"><strong>2. March\u00e9 des changes<\/strong><\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-16 wp-block-paragraph\" style=\"font-size:18px\"><strong>\u2022 Indice du dollar am\u00e9ricain (DXY)<\/strong>Le dollar s&#039;\u00e9changeait \u00e0 99,954, en l\u00e9g\u00e8re baisse de 0,041. Il a oscill\u00e9 dans une fourchette \u00e9troite juste en dessous de 100, les march\u00e9s \u00e9valuant les anticipations de baisse des taux de la Fed face \u00e0 la relative r\u00e9silience de l&#039;\u00e9conomie am\u00e9ricaine.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-17 wp-block-paragraph\" style=\"font-size:18px\"><strong>\u2022 EUR\/USD<\/strong>\u00c9chang\u00e9e \u00e0 1,15128, en hausse de 0,04%. Frein\u00e9e par des fondamentaux atones en zone euro, la paire n&#039;a pas r\u00e9ussi \u00e0 confirmer sa progression au-dessus de 1,15 et a affich\u00e9 une faible dynamique directionnelle.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-18 wp-block-paragraph\" style=\"font-size:18px\"><strong>\u2022 USD\/JPY :<\/strong> \u00c9chang\u00e9 \u00e0 157,384, en hausse de 0,12%. Les \u00e9carts de rendement \u00e9lev\u00e9s entre les \u00c9tats-Unis et le Japon ont maintenu la dynamique des op\u00e9rations de portage, poussant la paire vers le niveau de r\u00e9sistance de 158.<\/p>\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-19 wp-block-paragraph\" style=\"font-size:18px\"><strong>3. M\u00e9taux pr\u00e9cieux et mati\u00e8res premi\u00e8res<\/strong><\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-20 wp-block-paragraph\" style=\"font-size:18px\"><strong>M\u00e9taux pr\u00e9cieux<\/strong><\/p>\n\n\n\n<ul style=\"font-size:18px\" class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-21\" style=\"font-size:18px\"><strong>Or au comptant (XAUUSD)<\/strong>L&#039;or s&#039;est n\u00e9goci\u00e9 autour de $4\u00a0057,05\u00a0$\/oz, en hausse de 0,04%. Se n\u00e9gociant activement pr\u00e8s de ses plus hauts historiques, au-dessus de $4\u00a0000\u00a0$, il b\u00e9n\u00e9ficie d&#039;un solide soutien macro\u00e9conomique aliment\u00e9 par les tendances mondiales \u00e0 la d\u00e9dollarisation et les achats des banques centrales.<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-22\" style=\"font-size:18px\"><strong>Argent au comptant (XAGUSD)<\/strong>Le cours de l&#039;argent s&#039;\u00e9tablissait \u00e0 $58,283\/oz, en hausse de 0,16%. La demande industrielle et les achats de valeurs refuges ont soutenu sa forte volatilit\u00e9.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-23 wp-block-paragraph\" style=\"font-size:18px\"><strong>mati\u00e8res premi\u00e8res<\/strong><\/p>\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>P\u00e9trole brut (WTI\/XTIUSD)<\/strong>Le prix du p\u00e9trole s&#039;\u00e9tablissait \u00e0 $80,97\/baril, rebondissant fortement de 0,86%. Le p\u00e9trole a reconquis le seuil psychologique cl\u00e9 de $80, les march\u00e9s ayant r\u00e9\u00e9valu\u00e9 les primes de risque d&#039;approvisionnement li\u00e9es aux tensions g\u00e9opolitiques et au Moyen-Orient, soutenues par des pr\u00e9visions de stocks faibles.<\/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-25 wp-block-paragraph\" style=\"font-size:18px\"><strong>4. Actifs crypto et dynamique macro\u00e9conomique<\/strong><\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-26 wp-block-paragraph\" style=\"font-size:18px\"><strong>\u2022 Bitcoin (BTCUSD)<\/strong>Le Bitcoin s&#039;\u00e9changeait \u00e0 $63\u00a0331, en baisse de 0,20% sur la journ\u00e9e. Apr\u00e8s avoir \u00e9chou\u00e9 \u00e0 franchir la r\u00e9sistance sup\u00e9rieure, il est entr\u00e9 dans une phase de consolidation lat\u00e9rale, confront\u00e9 \u00e0 d&#039;importantes prises de b\u00e9n\u00e9fices.<\/p>\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>\u2022 Ethereum (ETHUSD) :<\/strong> \u00c9chang\u00e9 \u00e0 1 TP4T1 849,77, en baisse de 0,491 TP3T. Dans un contexte d&#039;aversion croissante au risque et d&#039;attrait pour les actifs traditionnels, l&#039;ETH a continu\u00e9 \u00e0 sous-performer les march\u00e9s en g\u00e9n\u00e9ral et les m\u00e9taux pr\u00e9cieux, les capitaux privil\u00e9giant les actifs tangibles et les actions traditionnelles \u00e0 plus forte certitude.<\/p>\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-28 wp-block-paragraph\" style=\"font-size:18px\"><strong>5. \u00c9v\u00e9nement cl\u00e9 du jour<\/strong><\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-29 wp-block-paragraph\" style=\"font-size:18px\">\u2022 Offres d&#039;emploi chez US JOLTs<\/p>","protected":false},"excerpt":{"rendered":"<p>August 4, 2026 \u2013 Global commodity markets kicked off the week\u2019s first key trading session amid intense multi-party jockeying and severe regional volatility. In Tuesday&#8217;s early Asian session, spot gold stabilized around&nbsp;$4,050\/oz in narrow-range trading. Although regional tensions have hit an awkward, stop-and-go stalemate, lingering inflation fears triggered by the unrest continue to provide a [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":9653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_front_end_style_editor":"no","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":"","_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"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":"","_members_access_role":[],"_members_access_error":""},"categories":[8],"tags":[],"class_list":["post-9655","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\/9655","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\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/comments?post=9655"}],"version-history":[{"count":1,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/9655\/revisions"}],"predecessor-version":[{"id":9657,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/9655\/revisions\/9657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media\/9653"}],"wp:attachment":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media?parent=9655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/categories?post=9655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/tags?post=9655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}