下周：关税和美国就业数据成为焦点。FP Markets Week Ahead的发布强调了即将到来的交易周需要注意的主要宏观驱动因素。

Week Ahead: Tariffs and US Jobs Data in the Spotlight.The FP Markets Week-Ahead release highlights key macro drivers to be aware of for the upcoming trading week.

美元预测：DXY枢轴位于99.949，为美国就业报告奠定了基调。美国经济数据发出喜忧参半的信号，而DXY跌破枢轴。下周的关键就业报告可能会证实或挑战看跌的图表设置。

US Dollar Forecast: DXY Pivot at 99.949 Sets Tone Ahead of U.S. Jobs Report.U.S. economic data sends mixed signals while DXY slips below pivot. Key jobs report next week could confirm or challenge the bearish chart setup.

周五，美国股市出现波动，为动荡但强劲的5月画上了句号，因为投资者权衡了与中国重新出现的贸易紧张局势和通胀数据的降温。标准普尔500指数盘中下跌超过1%后，收盘接近持平，纳斯达克指数下跌0.4%，道琼斯指数上涨53点。特朗普总统指责中国违反了他们最近的贸易协议，引发了市场波动，有进一步的压力报道称，政府计划扩大针对中国公司的技术限制。贸易谈判似乎停滞不前，围绕特朗普关税战略的法律不确定性加剧了投资者的不安。与此同时，美联储首选的通胀指标显示价格压力正在降温，提供了一些缓解。在盈利方面，好市多（+3.1%）和Ulta Beauty（+11.8%）因业绩强劲而上涨，但Gap在销售指导疲软后下跌20.2%。标准普尔500指数5月收盘上涨超过5%，而纳斯达克指数有望飙升近10%，这是自2023年11月以来的最佳月份。道琼斯指数本月上涨约3%。

US stocks wavered on Friday, capping a volatile but strong May as investors weighed renewed trade tensions with China and cooling inflation data. The S&P 500 ended near flat after falling over 1% intraday, while the Nasdaq slid 0.4% and the Dow added 53 points. Market swings were triggered after President Trump accused China of breaching their recent trade deal, with further pressure reports that the administration plans to expand tech curbs targeting Chinese firms. Trade talks appeared stalled, and legal uncertainty surrounding Trump’s tariff strategy added to investor unease. Meanwhile, the Fed’s preferred inflation gauge showed cooling price pressures, offering some relief. On the earnings front, Costco (+3.1%) and Ulta Beauty (+11.8%) gained on strong results, but Gap tumbled 20.2% after weak sales guidance. The S&P 500 closed May with a gain of more than 5%, while the Nasdaq is eyeing a near 10% surge—its best month since November 2023. The Dow rose about 3% this month.

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US equities pared most of their earlier losses in late trading on Friday, after Donald Trump said he expected talks with Xi Jinping, following accusations that China breached a trade deal. The S&P 500 erased most of a 1.2% drop, the Nasdaq 100 down 0.3%, while the Dow added 100 points. President Trump claimed China had "totally violated" its trade agreement with the US, fueling fears of a prolonged dispute. Chipmakers led tech declines, with Nvidia, AMD, Micron, and Intel all falling over 1.5%. Meanwhile, the Fed’s preferred inflation gauge showed cooling price pressures, offering some relief. On the earnings front, Costco (+4.1%) and Ulta Beauty (+11.5%) gained on strong results, but Gap tumbled nearly 20% after weak sales guidance. The S&P 500 is up over 5% this month, the Nasdaq has jumped 9.5%, both on track for their best month since November 2023, and the Dow has gained 3%.