Market Analysis:

On March 7th, the market experienced a classic stagflation trading pattern amid the dual shocks of "unexpected non-farm payrolls" and the "Middle East war." Weak employment data should have boosted expectations for rate cuts, but inflation concerns triggered by soaring oil prices completely suppressed this positive signal, resulting in a complex divergence pattern where "gold rises, oil surges, cryptocurrencies pull back, and stocks come under pressure."
Macro News:
1. The U.S. released non-farm payroll data on the evening of March 6th: February non-farm employment decreased by 92,000, with an unemployment rate of 4.4%. The U.S. labor market faces multiple headwinds, and with rising wages, there is a stagflation risk, marking a "worrisome moment" for the U.S. economy;
2. After the non-farm payroll data was released, spot gold briefly rose to $5,176 but then retraced some gains due to rising inflation expectations and profit-taking, showing a pattern of "rise → pullback → oscillation." If oil prices continue to surge, it will suppress short-term gold performance but be a long-term positive;
3. Over the past 24 hours, the total liquidation amount of cryptocurrencies across the entire network exceeded $320 million, with over 95,000 traders liquidated. The core reason was long positions being wiped out due to BTC and ETH pullbacks. Although the surprise non-farm data briefly boosted a crypto rebound last night, Trump’s crypto policies fell short of market expectations, combined with profit-taking from earlier gains, leading to a crypto correction. Meanwhile, the continued surge in oil prices weakened energy-driven gains, further intensifying the pullback pressure;
Special Reminder: Crypto markets are experiencing oscillations and profit-taking in gold, so heavy positions are strictly prohibited! #黄金白银走高 #全球央行降息预期全线降温 $XAUUSD $BTC $ETH