虽然美国在4月份的非农数据低于市场预期,但由于美联储释放出来的加息预期并没有改变,因此美元在5月份的走势仍将直接影响到大宗商品市场。值得注意的时,4月初在美元指数超过100点之后,全球大宗商品价格,尤其有色金属和贵金属价格跌幅有限,市场普遍认为这是因为原材料成本支撑,也就是说当时价格已经确认在底部。但随着美元出现回调之后,有色金属的价格并没有随之上涨,而是黄金的价格重新回到1200点附近。比较当前的铁矿石价格以及动力煤价格看,大宗商品现在的基本面已经成为一个“兜底”因素——在基本面没有改善的情况下,美元虽然能阶段性影响商品价格,但是受到基本面的拖累,即 Although non-farm payrolls in the United States fell below market expectations in April, the dollar’s trend in May will still have a direct impact on the commodity markets as the rate hike expectations released by the Fed have not changed. It is noteworthy that global commodity prices, especially for non-ferrous metals and precious metals, have been limited after the USD index hit 100 in early April. The market generally believes this is due to raw material cost support, which means the price has been confirmed at the bottom. However, with the correction of the U.S. dollar, the prices of non-ferrous metals did not rise, but the price of gold returned to around 1,200. Compared with the current iron ore prices and thermal coal prices, the fundamentals of commodities now have become a “bottom line ” factors - in the case of fundamentals did not improve, although the dollar can affect the commodity price stage, but by Fundamentals of drag, that is