SMM4 March 12: on Friday, the outer disk metal fell across the board, Lun Copper fell nearly 0.9%, Lun Aluminum fell nearly 0.6%, Lun Zinc fell nearly 0.9%, Lunnickel fell nearly 1.1%, Lunxi fell nearly 0.3%, Lun lead fell nearly 0.9%, Lun Copper fell slightly on Friday, as rising inflation in China, a major consumer, worried that it might tighten monetary policy, but the expected tightening of supply pushed copper prices higher weekly. Analysts pointed out that the rally should recover as countries poured money into copper-intensive infrastructure and electrification, but warned that the upward path could stumble. Domestically, international copper fell nearly 0.8%, Shanghai copper fell nearly 0.9%, Shanghai aluminum rose slightly, Shanghai lead fell nearly 0.5%, Shanghai zinc fell nearly 0.2%, Shanghai nickel fell nearly 0.8%, and Shanghai tin fell nearly 2%.
The dollar index rose slightly to recover some of its losses as higher-than-expected inflation indicators in the US and China pushed up US bond yields, rising 0.12 per cent to 92.18; at one point, the dollar index rose 0.4 per cent, the biggest gain since March 30; and the yield on the 10-year Treasury note climbed 4 basis points to 1.66 per cent, hitting an intraday high after the PPI data. However, the dollar's rally this year seems to have lost momentum. Despite a rebound on Friday, the weekly dollar index will still fall 0.89 per cent, its worst week so far this year.
U. S. stocks closed higher on Friday, with both the Dow and the S & P hitting intraday and closing highs. The VIX index, a measure of market panic, fell below 17:00. Us PPI grew at an annualised rate of 4.2 per cent in March, the biggest increase in a decade, indicating that inflationary pressures are building. The vice chairman of the Federal Reserve said the policy could not be changed until price stability and employment targets were achieved. The Dow was up 297.03 points, or 0.89%, at 33800.60; the Nasdaq was up 70.88, or 0.51%, at 13900.19; and the S & P 500 was up 31.63, or 0.77%, at 4128.80.
In terms of crude oil, international crude oil futures closed lower on Friday, down about 2% a week, as increased production and renewed blockades imposed by some countries outweighed optimism that fuel demand would recover. The OPEC, made up of OPEC and its oil-producing allies, agreed to gradually increase supply by 2 million barrels a day between May and July. This puts downward pressure on oil prices.
In precious metals, COMEX gold futures fell on Friday, dragged down by a jump in U.S. Treasury yields and a rebound in the dollar, but still rose for the first time in three weeks. Data released on Friday showed that the US producer price index ((PPI)) rose more than expected in March, recording the biggest year-on-year increase in nine and a half years. The data are in line with expectations that inflation will rise as the United States resumes work and production, the public health environment improves and the government invests a lot of money.
In terms of data, China's CPI grew at an annual rate of 0.4% in March, with an expected 0.3%, with a previous value of-0.2%. China's PPI grew at an annual rate of 4.4% in March, with an expected 3.6%, with a previous value of 1.7%.
National Bureau of Statistics: in March 2021, the national consumer price rose 0.4% compared with the same period last year. Of this total, urban prices rose by 0.5%, rural areas by 0.4%, food prices by 0.7%, non-food prices by 0.7%, consumer prices by 0.6%, and service prices by 0.2%. In the first quarter, consumer prices across the country were the same as those in the same period last year.
Dong Lijuan, senior statistician of the City Department of the National Bureau of Statistics, interpreted CPI and PPI data in March 2021: CPI changed from rising to falling, and from falling to rising compared with the same period last year. From a month-on-month point of view, due to the seasonal decline in demand after the Spring Festival, CPI rose 0.6% to 0.5% last month. Judging from the same period last year, due to the sharp weakening of the negative impact of tail warping, CPI rose 0.4 per cent from 0.2 per cent last month.
Germany's unquarterly trade account in February (billion euros), previous value 143, expected 203, announced 181, revised 138 (previous value). Germany's unquarterly current account in February (100 million euros), a previous value of 169, is expected to be 213, announced 188.
Forexlive comments on German trade account data: Germany's trade surplus widened in February and imports and exports are expected to improve, but it will take some time to catch up with pre-epidemic levels.
The monthly rate of PPI in the United States in March, with a previous value of 0.50% and an expected rate of 0.50%, announced 1%.
Forexlive reviews the monthly rate of PPI in the United States in March: starting this month, the data will begin to decline. Because of the outbreak a year ago, PPI fell by 0.5% in March, 0.5% in April and 1.1% in May. When negative numbers are replaced by positive numbers, such as this month, the year-on-year data will rise sharply, and the Fed believes the jump is temporary.
CNBC comments on the monthly rate of PPI in the United States in March: the US producer price index rose sharply in March: the US producer price index (PPI) rose more than expected in March, recording the largest annual increase in nine and a half years, in line with expectations that the economic recovery will lead to higher inflation at a time when the economy is restarting and the government is investing heavily. PPI rose at an annualised rate of 4.2 per cent from a year earlier, the biggest increase since September 2011 and just 2.8 per cent last month. The release of the report was delayed due to the collapse of the website of the Bureau of Labor Statistics.
The monthly rate of wholesale sales in the United States in February, with a previous value of 4.90%, is expected to be-0.8%, revised by 4.6% (previous value).
The monthly rate of wholesale sales in the United States was-0.8% in February, the lowest since April last year.
The total number of oil drilling in the United States in the week to April 9, with a previous value of 337, is expected to be 343.
