SMM3 March 17 News: yesterday most of the outer plate metal floating green, Lun copper fell nearly 2.1%. Lun Aluminum fell nearly 1.1%, Lunzn Zinc fell nearly 2.1%, Lunni fell nearly 0.4%, Lunxi rose nearly 0.1%, and Lunxi lead fell nearly 1.9%. (LME) copper on the London Metal Exchange fell sharply on Tuesday as investors sold some of their long positions in an atmosphere of uncertainty before the central bank meeting. Some analysts pointed out that the market has digested a lot of positive news, a lot of positive expectations about electric vehicles. It is natural for some savvy investors to take profits or wait and see. Although the market is very worried about the inflation outlook, central banks around the world still tend to relax monetary policy, so there is this difference, which brings uncertainty. The domestic metal market is green across the board. International copper fell nearly 1.3%, Shanghai copper fell nearly 1.2%, Shanghai aluminum fell nearly 1%, Shanghai lead fell nearly 0.6%, Shanghai zinc fell nearly 1%, Shanghai nickel fell slightly, and Shanghai tin fell nearly 0.8%.
The dollar index edged higher in light trading, with 10-year Treasury yields near one-year highs and the dollar index rising 0.08 per cent to 91.88, the third consecutive day of gains. Treasury yields were mixed, with the benchmark 10-year yield rising to 1.617 per cent. Data released on Tuesday showed that US retail sales fell 3.0 per cent in February compared with the previous month on a seasonally adjusted basis, partly due to bad weather. Core retail sales, excluding cars, gasoline, building materials and food services, fell 3.5 per cent in February and rose 8.7 per cent in January.
U. S. stocks closed mixed on Tuesday, with technology stocks such as Microsoft, Apple and Google supporting the Nasdaq. The Federal Reserve is about to release interest rate decisions and policy statements. Retail sales in the United States in February hit their lowest level since April last year, well below market expectations. The Dow fell 127.51 points, or 0.39%, to 32825.95; the Nasdaq rose 11.86 points, or 0.09%, to 13471.57; and the S & P 500 fell 6.23 points, or 0.16%, to 3962.71.
In terms of crude oil, crude oil futures closed down for the third day in a row on Tuesday, as extreme cold weather in Texas last month was expected to cause U.S. crude oil stocks to rise for the fourth week in a row. The U.S. Energy Information Administration ((EIA)) announced last week that U.S. crude oil stocks rose by 13.8 million barrels in the week ended March 5. Crude oil stocks soared by 21.6 million barrels in the week ended February 26th. Crude oil stocks rose by 1.3 million barrels in the week ended February 19th.
In precious metals, COMEX gold futures rose slightly on Tuesday as investors waited for policy hints from the Fed's two-day meeting. Data released on Tuesday showed that U.S. retail sales fell 3% in February, the lowest since April last year, due to the failure of government bailouts and unusually bad weather. Industrial output also fell 2.2 per cent last month.
On the data side, the euro zone's March ZEW economic climate index, a previous value of 69.6, is expected to release 74.
The euro zone's ZEW economic sentiment index hit an all-time high of 74 in March.
Germany's March ZEW economic climate index, the previous value of 71.2, is expected to be 74, released 76.6.
Economic optimism continues to rise at ZEW:, a German think-tank. Experts expect a broad recovery in the German economy. Given the limited room for interest rate cuts, we need to use interest rate reduction tools in the most effective way. Experts predict that at least 70 per cent of Germany's population will receive the novel coronavirus vaccine by autumn. The vast majority also expect inflation to continue to rise and long-term interest rates to rise.
Us retail sales monthly rate in February, previous value 5.30%, expected-0.5%, published-3%, revised 7.6% (previous value). The monthly rate of the US import price index in February, the previous value is 1.40%, is expected to be 1.2%, and 1.3% is announced.
Us retail sales recorded a monthly rate of-3 per cent in February, the lowest since April last year. Adam Button, an analyst at the financial station Wang Forexlive, commented on the monthly rate of retail sales in the United States in February: February is a month to restart the economy, but it is also a very cold month in most parts of the United States, so this is a difficult retail sales report. The market is expected to forgive poor reporting because of the weather and upcoming stimulus measures.
The monthly rate of US industrial output in February, with a previous value of 0.90% and an expected 0.3%, was released at-2.2%, revised by 1.1% (previous value).
Adam Button:, an analyst at the financial and economic station Forexlive, recorded a monthly rate of industrial output of-2.2% in the United States in February, with an expected value of 0.3%. The data differs greatly from market expectations, but the decline in capacity utilization may be related to the weather.
