SMM2 on June 26: the outer disk metal market fell yesterday, of which Lunni fell the most, nearly 5%, and the lowest in the day was 18740 yuan / ton. On the other hand, Shanghai Nickel, a metal in the domestic market, fell the most, by nearly 2%. SMM believes that in terms of risk factors, it is necessary to take into account the weaker-than-expected global economic recovery, changes in the Fed's monetary policy, the uncertainty of the epidemic and other Black Swan events. We should also pay continuous attention to the fundamentals. Early speculative bulls continue to reduce positions, putting great pressure on the short-term price of nickel.
On the dollar side, Bart Wakabayashi, manager of State Street Bank's Tokyo branch, said: "the dollar is likely to decline for some time as the economy picks up and re-inflationary trading becomes more interesting." "especially in the United States, we are seeing very strong upward pressure on prices."
The three major indexes of u.s. stocks fell across the board, with the Dow down 560 points, the Nasdaq down more than 3.5%, and the s & p 500 down 96.09 points, or 2.45%. Us bond yields soared, with 10-year yields above 1.6 per cent, putting pressure on the market.
In terms of crude oil, NYMEX crude and Brent crude both fell, on news that the Organization of Petroleum Exporting countries and its allies will meet next week and are expected to decide on production quotas that may take effect in April. OPEC + may discuss the issue of increasing production by 500000 barrels a day at the meeting. OPEC + will hold a committee meeting on March 3, followed by a major decision-making meeting on March 4.
On the precious metals front, demand for gold was undermined by soaring US bond yields and better-than-expected economic data. Spot gold fell as much as 2.17%, refreshing this week's low to $1765.83 an ounce.
In terms of data, the euro zone industrial climate index for February, previous value:-5.9 Forecast:-5 release: 3.3
Final value of euro zone consumer confidence index in February, previous value:-14.8 Forecast:-14.8 announcement:-14.8
Euro zone economic climate index for February, previous value: 91.5 Forecast: 92 published: 93.4
The number of people claiming unemployment benefits in the United States in the week to February 20 (10,000), previous value: 86.1 Forecast: 83.8 announcement: 73
Us fourth quarter actual GDP annualized quarterly rate correction (%), previous value: 4% Forecast: 4.2% announcement: 4.1%
Us January durable goods order monthly rate (%), previous value: 0.5% Forecast: 1.1% announcement: 3.4%
The monthly rate of contracted sales index of existing homes in the United States in January (%), previous value:-0.3% Forecast: 0 announcement:-2.8%
