20231229-国泰期货-所长早读_78页_2mb

Overall Market View: Risk appetite expected to improve due to Fed's policy turn and weaker data, supporting market repair despite ongoing risk concerns and policy uncertainty. Index levels remain low, providing repair space; however, drivers are limited, and market responses may be expected.

Precious Metals: Gold and silver are expected to rise on Fed reluctance to raise rates, reinforcing bullish trends. Base metals like copper face pressure from supply issues, with neutral to bearish outlooks.

Agricultural Commodities: Oxid铝 shows caution for further upside due to potential price alignment;生猪 expected to maintain short-term weakness and long-term strength; other ag commodities face supply-demand imbalances with mixed outlooks.

Energy and Industrials: Energy markets like fuel oil and LPG show short-term strength but volatility; industrials are mixed, with aluminum in repair mode, zinc and lead having bearish notes, but some optimism for lead long-term.

Futures Overall: Caution advised for many commodities due to supply-side pressures and weak demand, except for gold, which is favored. Await macro developments like美联储会议 for market shifts.