{"id":9737,"date":"2026-08-10T14:05:17","date_gmt":"2026-08-10T04:05:17","guid":{"rendered":"https:\/\/www.amillex.com\/?p=9737"},"modified":"2026-08-10T14:05:18","modified_gmt":"2026-08-10T04:05:18","slug":"amillex-daily-commentary-review-weak-nfp-dampens-rate-hike-expectations-geopolitical-tensions-boost-oil-risk-premium","status":"publish","type":"post","link":"https:\/\/www.amillex.com\/fr\/2026\/08\/10\/amillex-daily-commentary-review-weak-nfp-dampens-rate-hike-expectations-geopolitical-tensions-boost-oil-risk-premium\/","title":{"rendered":"Analyse quotidienne d&#039;Amillex | Faibles chiffres de l&#039;emploi non agricole : les anticipations de hausse des taux sont revues \u00e0 la baisse, les tensions g\u00e9opolitiques accentuent la prime de risque p\u00e9troli\u00e8re"},"content":{"rendered":"<p class=\"has-black-color has-text-color has-link-color wp-elements-1 wp-block-paragraph\" style=\"font-size:18px\">Lundi 10 ao\u00fbt 2026, en d\u00e9but de s\u00e9ance asiatique, le march\u00e9 mondial des mati\u00e8res premi\u00e8res a affich\u00e9 une l\u00e9g\u00e8re tendance haussi\u00e8re, sous l&#039;impulsion des politiques macro\u00e9conomiques et de l&#039;\u00e9volution g\u00e9opolitique. L&#039;or au comptant s&#039;\u00e9changeait autour de $4\u00a0346 $\/oz, principalement influenc\u00e9 par le rapport am\u00e9ricain sur l&#039;emploi non agricole (NFP) de juillet, \u00e9tonnamment faible. Ces donn\u00e9es, inf\u00e9rieures aux attentes, ont de fait temp\u00e9r\u00e9 les anticipations de hausse des taux de la Fed, exer\u00e7ant une pression \u00e0 la baisse sur l&#039;indice du dollar et soutenant fermement l&#039;or. Malgr\u00e9 des prises de b\u00e9n\u00e9fices \u00e0 proximit\u00e9 des sommets historiques, entra\u00eenant de l\u00e9g\u00e8res consolidations, la dynamique haussi\u00e8re de l&#039;or demeure solide, confort\u00e9e par les anticipations d&#039;un changement de cap de la politique mon\u00e9taire et les flux de capitaux vers les valeurs refuges.<\/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\">Parall\u00e8lement, la prime de risque sur le march\u00e9 du p\u00e9trole brut a de nouveau fortement augment\u00e9, le WTI progressant l\u00e9g\u00e8rement pour s&#039;\u00e9changer aux alentours de $78,73 $\/baril. Sur le plan de l&#039;actualit\u00e9, l&#039;impasse au Moyen-Orient et le blocage des n\u00e9gociations diplomatiques \u2013 conjugu\u00e9s aux conditions pr\u00e9alables requises pour la r\u00e9ouverture du d\u00e9troit d&#039;Ormuz \u2013 ont directement accentu\u00e9 les inqui\u00e9tudes concernant l&#039;offre. \u00c0 l&#039;avenir, si les efforts diplomatiques au Moyen-Orient restent infructueux, les risques li\u00e9s \u00e0 l&#039;offre continueront de soutenir une certaine vigueur des prix du p\u00e9trole. De son c\u00f4t\u00e9, le march\u00e9 de l&#039;or suivra de pr\u00e8s les prochaines donn\u00e9es sur l&#039;inflation am\u00e9ricaine afin de confirmer l&#039;\u00e9volution des anticipations de changement de cap de la politique mon\u00e9taire.<\/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 classes d&#039;actifs<\/strong><\/p>\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\u00e9 des actions am\u00e9ricaines<\/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-5\" style=\"font-size:18px\"><strong>Performance de l&#039;indice<\/strong>\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-6\" style=\"font-size:18px\"><strong>Indice industriel Dow Jones (DJI) :<\/strong> \u00c0 54\u00a0042,39 points, en hausse de 152,00 points (+0,28%). Soutenu par les secteurs cycliques et les valeurs vedettes, le Dow Jones a maintenu une tendance haussi\u00e8re r\u00e9guli\u00e8re, avec un fort int\u00e9r\u00eat acheteur aux alentours de la barre des 54\u00a0000 points.<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-7\" style=\"font-size:18px\"><strong>Indice S&amp;P 500 (SP500)\u00a0:<\/strong> \u00c0 7\u00a0757,27, en baisse de 3,06 points (-0,04%). L\u2019indice a \u00e9volu\u00e9 dans une fourchette \u00e9troite pr\u00e8s de ses sommets historiques autour de 7\u00a0750, dans un contexte de faibles volumes d\u2019\u00e9changes, les investisseurs attendant la publication, plus tard cette semaine, de donn\u00e9es cl\u00e9s sur l\u2019inflation am\u00e9ricaine.<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-8\" style=\"font-size:18px\"><strong>Contrats \u00e0 terme Nasdaq 100 (T1) :<\/strong> \u00c0 29\u00a0881,00, en hausse de 46,25 points (+0,16%). Les valeurs technologiques ont \u00e9volu\u00e9 de mani\u00e8re divergente, l\u2019indice prenant de l\u2019\u00e9lan pour \u00e9tablir un support avant le seuil psychologique des 30\u00a0000 points.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-9\" style=\"font-size:18px\"><strong>Points saillants des actions individuelles<\/strong>\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-10\" style=\"font-size:18px\"><strong>Tesla (TSLA) :<\/strong> \u00c0 $328,58, le cours a bondi de 2,83%. En tant que leader du march\u00e9, il a enregistr\u00e9 d&#039;importants afflux de capitaux, formant une cassure technique \u00e0 des niveaux \u00e9lev\u00e9s.<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-11\" style=\"font-size:18px\"><strong>Intel (INTC) :<\/strong> \u00c0 $101,65, en hausse de 1,84%. La reprise de valeur dans le secteur des semi-conducteurs s&#039;est poursuivie, le titre se maintenant durablement au-dessus du niveau de r\u00e9sistance psychologique de $100.<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-12\" style=\"font-size:18px\"><strong>Alphabet \/ Google (GOOG) :<\/strong> \u00c0 $354,30, en baisse de 0,96%. Contrainte par des prises de b\u00e9n\u00e9fices \u00e0 court terme, l&#039;action a subi un l\u00e9ger repli technique par rapport \u00e0 ses r\u00e9cents sommets.<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-13\" style=\"font-size:18px\"><strong>Apple (AAPL) et Amazon (AMZN)\u00a0:<\/strong> Les cours $313,33 (+0,29%) et $274,48 (+0,82%) se sont respectivement \u00e9tablis. Les deux positions ont \u00e9volu\u00e9 de mani\u00e8re stable, apportant un soutien en liquidit\u00e9s au march\u00e9 dans son ensemble durant cette phase de consolidation lat\u00e9rale.<\/li>\n<\/ul>\n<\/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-14 wp-block-paragraph\" style=\"font-size:18px\"><strong>2. March\u00e9 des changes<\/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-15\" style=\"font-size:18px\"><strong>Indice du dollar am\u00e9ricain (DXY) :<\/strong> \u00c0 99,643, en hausse de 0,04%. L&#039;indice du dollar a fluctu\u00e9 l\u00e9g\u00e8rement entre 99,50 et 100,00. L&#039;incertitude entourant la trajectoire des taux d&#039;int\u00e9r\u00eat de la Fed a maintenu l&#039;activit\u00e9 du march\u00e9 prudente, comprimant la volatilit\u00e9 globale.<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-16\" style=\"font-size:18px\"><strong>EUR\/USD :<\/strong> \u00c0 1,15555, en baisse de 0,03%. L&#039;euro a oscill\u00e9 autour de 1,1550, la politique mon\u00e9taire attentiste de la BCE, conjugu\u00e9e \u00e0 la faiblesse des fondamentaux r\u00e9gionaux, limitant ainsi la dynamique haussi\u00e8re.<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-17\" style=\"font-size:18px\"><strong>USD\/JPY :<\/strong> \u00c0 157,916, en hausse de 0,07%. Les anticipations de diff\u00e9rentiel de rendement entre les \u00c9tats-Unis et le Japon ont pr\u00e9valu, poussant la paire vers 158,00. La demande de portage et un affaiblissement temporaire de l&#039;attrait du yen comme valeur refuge ont maintenu sa valeur sous pression.<\/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-18 wp-block-paragraph\" style=\"font-size:18px\"><strong>3. M\u00e9taux pr\u00e9cieux et 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-19\" style=\"font-size:18px\"><strong>M\u00e9taux pr\u00e9cieux<\/strong>\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-20\" style=\"font-size:18px\"><strong>Or au comptant (XAUUSD) :<\/strong> \u00c0 $4\u00a0338,97\/oz, en baisse de 0,07%. L&#039;or s&#039;est consolid\u00e9 de mani\u00e8re stable au sein d&#039;un canal ascendant au-dessus de $4\u00a0300. Malgr\u00e9 les co\u00fbts de d\u00e9tention dans un contexte de taux d&#039;int\u00e9r\u00eat \u00e9lev\u00e9s, les allocations \u00e0 long terme et la demande de valeur refuge ont apport\u00e9 un soutien ferme lors des replis.<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-21\" style=\"font-size:18px\"><strong>Argent au comptant (XAGUSD) :<\/strong> \u00c0 $63,74\/oz, en hausse de 0,28%. L&#039;argent a l\u00e9g\u00e8rement surperform\u00e9 l&#039;or, soutenu par les pr\u00e9visions de la demande industrielle et le r\u00e9\u00e9quilibrage du ratio or\/argent, oscillant \u00e0 des niveaux \u00e9lev\u00e9s entre $63 et $64.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li class=\"has-black-color has-text-color has-link-color wp-elements-22\" style=\"font-size:18px\"><strong>mati\u00e8res premi\u00e8res<\/strong>\n<ul class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-23\" style=\"font-size:18px\"><strong>P\u00e9trole brut WTI (XTIUSD) :<\/strong> \u00c0 $79,00\/baril, le prix a fortement rebondi de 2,23%. L&#039;aggravation des risques g\u00e9opolitiques et l&#039;incertitude quant \u00e0 l&#039;approvisionnement ont de nouveau \u00e9t\u00e9 prises en compte, poussant le p\u00e9trole brut pr\u00e8s du niveau de r\u00e9sistance psychologique de $80 avec des primes de risque accrues.<\/li>\n<\/ul>\n<\/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-24 wp-block-paragraph\" style=\"font-size:18px\"><strong>4. Actifs crypto et dynamique macro\u00e9conomique<\/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-25\" style=\"font-size:18px\"><strong>Bitcoin (BTCUSD) :<\/strong> \u00c0 $64\u00a0980, en hausse de 0,19%. Le Bitcoin a form\u00e9 une base \u00e9troite autour de $65\u00a0000. Alors que la liquidit\u00e9 macro\u00e9conomique mondiale est en cours de r\u00e9\u00e9valuation, l\u2019app\u00e9tit pour le risque reste prudent, ce qui entra\u00eene une faible volatilit\u00e9 et une \u00e9volution lat\u00e9rale.<\/li>\n\n\n\n<li><strong>Ethereum (ETHUSD) :<\/strong> \u00c0 1\u00a0913,65\u00a0TP4T, en hausse de 0,241\u00a0TP3T, Ethereum a l\u00e9g\u00e8rement rebondi, suivant la tendance g\u00e9n\u00e9rale du march\u00e9, et s&#039;est consolid\u00e9 sous la barre des 1\u00a0900\u00a0TP4T. La corr\u00e9lation entre les crypto-actifs et les actions traditionnelles \u00e0 haut risque demeure \u00e9lev\u00e9e.<\/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-26 wp-block-paragraph\" style=\"font-size:18px\"><strong>5. \u00c9v\u00e9nements \u00e0 suivre aujourd&#039;hui<\/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-27\" style=\"font-size:18px\">Aucun<\/li>\n<\/ul>\n\n\n\n<div style=\"height:100px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>","protected":false},"excerpt":{"rendered":"<p>On Monday, August 10, 2026, during the early Asian session, the global commodities market exhibited a mild upward trend, driven by macro policies and geopolitical developments. Spot gold traded around $4,346\/oz, primarily influenced by the surprisingly weak US July non-farm payrolls (NFP) report. The softer-than-expected labor market data effectively suppressed market expectations for Fed rate [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":9738,"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-9737","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\/9737","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=9737"}],"version-history":[{"count":1,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/9737\/revisions"}],"predecessor-version":[{"id":9739,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/posts\/9737\/revisions\/9739"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media\/9738"}],"wp:attachment":[{"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/media?parent=9737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/categories?post=9737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amillex.com\/fr\/wp-json\/wp\/v2\/tags?post=9737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}