SMM3 March 30: yesterday, metal on the outer disk went up and down each other. Lun Copper fell nearly 0.9%, Lun Aluminum fell nearly 1.1%, Lun Zinc fell nearly 0.1%, Lunni fell nearly 1.2%, Lunxi rose nearly 0.1%, and Lunxi lead rose nearly 0.8%. Fears of higher freight rates receded and negative sentiment was reinforced by the rise in the dollar after Lunbrum slipped on Monday, resurfacing container ships that had been blocked on the Suez Canal. Analysts pointed out that copper prices fell after we saw the news of the ship blocking the Suez Canal. Freight may still be affected by a chain reaction and ships are lining up, but at least the canal is no longer clogged. Domestically, shanghai copper is slightly red, shanghai aluminum is down nearly 0.1%, shanghai lead is up nearly 1.8%, shanghai zinc is up nearly 0.6%, shanghai nickel is down nearly 0.1%, and shanghai tin is up nearly 0.2%.
The dollar index hit a more than four-month high in volatile trading, attracting some safe-haven buying because of concerns about the potential consequences of a margin default by a hedge fund. The dollar index hit an intraday high of 92.965, the highest since November last year, and was last up 0.23% at 92.93.
U. S. stocks closed mixed on Monday, with the Dow up about 100 points, setting another all-time intraday and closing high. The market continues to pay attention to the impact of the explosion of Archegos funds. The Biden administration will press ahead with a $3 trillion infrastructure plan this week. The novel coronavirus epidemic in the United States has rebounded, and the head of the CDC has warned that bad luck may be coming. The Dow rose 98.49 points, or 0.30%, to 33171.37; the Nasdaq fell 79.08 points, or 0.60%, to 13059.65; and the S & P 500 fell 3.45 points, or 0.09%, to 3971.09.
Crude oil futures rose nearly 1% on Monday after reports that Russia would support the Organization of Petroleum Exporting countries (OPEC) and the Union of Petroleum producers ((OPEC)) to keep production roughly unchanged in May and that OPEC would hold a meeting later this week. Analysts point out that the market is looking beyond the Suez Canal to the upcoming OPEC meeting, and there are strong signs that they will maintain production cuts.
In precious metals, COMEX gold futures closed at a three-week low on Monday, as a strong dollar and rising Treasury yields undermined the attractiveness of safe-haven gold and put pressure on bets that the US economy would recover quickly. Analysts point out that bulls in the gold and silver markets need a fundamental bright spot. A rebound in the dollar and rising yields have limited buying interest.
On the data side, the Bank of England had 87700 mortgage permits in February, compared with an expected 95000, compared with a previous value of 99000.
Financial wang station Forexlive comments on the Bank of England mortgage data in February: mortgage approval in the UK slowed slightly in February, still indicating a slight easing in real estate market activity. The most striking thing about today's report is that consumer credit growth is expected to fall to-9.9% year-on-year, the lowest level since records began in 1998. This continues to suggest poor credit conditions, and while the outlook is more optimistic, the UK economy is still a long way from a full recovery.
