To engage in gold, oil, and foreign exchange trading without being constrained by market trends, fundamental analysis is key to understanding price fluctuations—there is no need for rote memorization; the core is to grasp the underlying factors driving price volatility and to closely follow global economic dynamics and capital flows, allowing for precise control of market trends.

Exchange rates and asset prices may seem chaotic, but the underlying patterns are clear: when a country's economy is strong, its currency often has support, and the exchange rate is likely to rise; conversely, when the economy is weak, the currency lacks support and may depreciate, which will also put pressure on corresponding asset prices.

Here, we must emphasize the US dollar, which serves as the 'hard currency' for over 50% of global trade settlement and inherently possesses safe-haven attributes. It can be regarded as the 'barometer' of the gold, oil, and foreign exchange markets. Therefore, the economic conditions and policy changes in the United States will directly affect global market trends, and relevant economic data is the 'market password' that must be closely monitored.

1. Ranking of the impact of economic data (can be directly applied in practice, from strong to weak)

Not all data is equally important; focus on the top core data:

1. Interest rate decisions: Central bank core policy, directly determining funding costs and market liquidity, with the greatest impact

2. Unemployment data: Reflects the prosperity of the job market, thereby reflecting the economic state, with extremely high weight

3. GDP: The core indicator for measuring economic growth, serves as the 'stabilizing anchor' for judging economic trends

4. Industrial production data: Senses the vitality of real economy output, predicts economic warm and cold

5. Foreign trade data: The balance of imports and exports affects currency supply and demand, influencing exchange rate trends

6. Inflation rate: Core price indicator, directly related to the direction of central bank monetary policy

7. PPI: Price trends at the upstream production end, which will transmit to the end consumer sector

8. CPI: Resident consumer price level, a direct reflection of inflation

9. WPI: Price changes in the wholesale segment of goods, reflecting trends in the circulation field

10. RPI: Relates to end consumer enthusiasm, reflecting the strength of domestic demand

11. PMI: Forward-looking indicators of the manufacturing and service sectors, predicting signals of economic turning points

12. Consumer confidence index: Reflects residents' willingness to consume, affecting domestic demand and economic expectations

13. Business climate index: Reflects corporate operating expectations, provides insights into future industry trends

14. Construction-related data: Relates to real estate and infrastructure, reflecting vitality in the investment sector

15. Factory order data: A leading signal of industrial production and demand changes, serving as an economic precursor

16. Personal income data: Determines residents' consumption capacity, affecting the potential of domestic demand

17. Automobile sales data: A barometer of major consumption, directly reflecting economic vitality

18. Average wage data: Relates resident income with potential inflation pressure, affecting policy judgments

19. Business inventory data: Reflects supply and demand balance, showing trends in corporate production adjustments

20. Leading index: Predicts turning points in the economic cycle, an important reference for early positioning

2. The impact of data needs to be judged flexibly, it is not unchanging

Lin Ruizhe reminds that the actual impact of data will change with market focus:

• The greater the difference between the published data and market expectations, the more intense the short-term market fluctuations

• During the phase of monetary policy shifts (such as interest rate hike/cut windows), the impact of core data related to employment and inflation will double

• During major events such as central bank meetings and geopolitical conflicts, information from official speeches and institutional views can easily trigger market sentiment fluctuations, which can assist in predicting market trends after data releases

3. Core practice: Focus on key points, be responsive, no need to be greedy

Lin Ruizhe emphasizes that fundamental analysis does not require interpreting all data, the key is to do two things well:

1. Lock in the current market core focus indicators (such as current need to closely monitor inflation and interest rate data)

2. Before data releases, combine economic laws to make predictions and develop two types of response strategies: 'in line with expectations' and 'exceeding expectations'

After all, the decisions of central banks and large institutions also rely on classic economic laws; following core logic can help avoid detours and accurately grasp the fluctuations of gold, crude oil, and foreign exchange.