SMM5 March 8: yesterday, most of the metal in the outer disk was red, Lun copper rose 2.94%, Lun aluminum rose 0.9%, Lun lead rose 0.38%, Lunzn zinc rose 2.68%, Lenny rose 0.92%, Lunxi fell 0.99%, and Lunxi copper prices soared to record highs on Friday, driven by speculators and industrial buyers. Economic data are optimistic as the western economy recovers from the epidemic. Copper prices have soared 135 per cent since March last year, when demand from the epidemic and blockade hit lows. The green revolution in electric cars and renewable energy has boosted demand and pushed up the price of copper. Domestically, international copper rose 2.08%, Shanghai copper rose 2.12%, Shanghai aluminum rose 0.76%, Shanghai lead was flat, Shanghai zinc rose 2.64%, Shanghai nickel rose 0.28%, and Shanghai tin fell 1.68%.
The dollar fell to a more than two-month low on Friday after US jobs data for April were much lower than expected, dampening hopes that a strong recovery would boost interest rates and boost the dollar. According to data released by the US Labor Department on the 7th, the US non-farm sector created 266000 jobs in April, and the unemployment rate was basically the same as the previous month, at 6.1 per cent. The above figures are much lower than the market consensus that "job creation will increase by 1 million in April".
U. S. stocks closed higher on Friday, with the Dow and S & P 500 hitting new intraday and closing highs. Us non-farm payrolls data for April were much weaker than expected, convincing investors that ultra-loose monetary policy would last longer. Biden said the non-farm data showed that the U.S. economy was still recovering, and Republicans blamed the huge stimulus for causing the unemployed to receive benefits instead of looking for jobs. The Dow rose 229.23 points, or 0.66%, to 34777.76; the Nasdaq rose 119.39 points, or 0.88%, to 13752.24; and the S & P 500 rose 30.98 points, or 0.74%, to 4232.60.
In terms of crude oil, crude oil futures rose slightly on Friday, despite the worsening crisis in novel coronavirus, India, and oil prices rose for the second week in a row amid optimism about the global economic recovery. The number of active oil and gas rigs in the US increased by eight this week to 448, the highest since April 2020, according to Baker Hughes (Baker Hughes), an energy services company. Since hitting a record low in August last year, the number of active rigs has also been growing modestly as oil prices have rebounded. This is an early indicator of future production.
In terms of precious metals, COMEX gold futures rose for the third day in a row on Friday, reaching their highest close in about three months, after an unexpected decline in U.S. job growth in April accelerated the decline in yields on the dollar and U.S. Treasuries. In its closely watched payrolls report, the Labor Department reported that non-farm payrolls rose by only 266000 last month, compared with an increase of 770000 in March.
In terms of data, China's trade account in April (100 million yuan), the previous value of 879.8, is expected to be 1295, announced 2765. In April, China calculated its trade account in US dollars (US $100 million), with a previous value of 138, expected to be 277, and announced 428.5.
General Administration of Customs: imports and exports to major trading partners such as ASEAN, the European Union and the United States have all increased. In the first four months, ASEAN was China's largest trading partner. China's trade with ASEAN totaled 1.72 trillion yuan, an increase of 27.6 percent. The European Union is China's second largest trading partner, with a total trade value of 1.63 trillion yuan, an increase of 32.1 percent, accounting for 14 percent. The United States is China's third largest trading partner. The total value of trade between China and the United States is 1.44 trillion yuan, an increase of 50.3 percent, accounting for 12.4 percent. Japan is China's fourth largest trading partner. The total value of trade between China and Japan is 770.64 billion yuan, an increase of 16.2%, accounting for 6.6%.
German monthly industrial output rate after quarterly adjustment in March, previous value-1.60%, expected 2.3%, announced 2.5%, revised-1.9% (previous value). Germany's unseasonally adjusted current account in March (100 million euros), with a previous value of 188, is expected to be 240, and 302 is announced. Germany's unquarterly trade account in March (billion euros), previous value 181, expected 211, announced 205, revised 182 (previous value).
China's foreign exchange reserves (US $100 million) in April, with a previous value of 31700.3, is expected to be 32000, with an announcement of 31981.8. People's Bank of China: China's foreign exchange reserves stood at $3.19818 trillion at the end of April, an increase of $28.151 billion from the previous month. China's gold reserves were at 62.64 million ounces (about 1948.32 tons) at the end of April, unchanged from the previous month.
Us non-farm payrolls (10,000) after quarterly adjustment in April, with a previous value of 91.6, expected to be 97.8, announced 26.6. The US unemployment rate in April, with a previous value of 6.00%, is expected to be 5.8%, with a release of 6.1%.
The U.S. Department of Labor: non-farm payrolls were revised up to 536000 in February from 468000, and down from 916000 to 770000 in March. CNBC comments on US non-farm data for April: the employment situation in April was very disappointing, with non-farm payrolls rising by 266000, much lower than expected, the unemployment rate rose to 6.1 per cent, and the shortage of available labor intensified.
[after the non-farm announcement] according to CME "Fed Watch", the probability of the Fed keeping interest rates in the 0.5% range in June this year is 93%, and the probability of raising interest rates by 25 basis points to 0.25% is 7%. In September, the probability of keeping interest rates in the range of 0% Mo 0.25% is 93%, and the probability of raising interest rates by 25 basis points is 7%. (all consistent with those before the non-agricultural announcement)
The monthly rate of wholesale sales in the United States in March, previous value-0.80%, expected 1%, announced 4.6%, revised 0% (previous value).
The total number of oil drilling in the United States in the week to May 7, with a previous value of 342, is expected to be 346, and 344 was announced.
