SMM News: international gold and silver fell as a whole on Thursday, only because a series of economic data released by the United States were eye-catching, and US stocks also had a strong trend; the situation in the Middle East continued to destabilize and contributed to the rise in oil prices, and OPEC internal friction attracted attention. Theresa May was "forced to the palace", the pound is also bad luck.
The US economy is improving and international gold and silver are under pressure, and the situation continues to support oil prices. As a result of a series of strong US economic data released on Thursday, international gold fell below the 1290 mark under heavy pressure, with international silver closing at $14.55oz, an intraday decline of 1.76 per cent, a recent two-week low.
In terms of international oil prices, the chaos in the Middle East has not improved, and countries such as Saudi Arabia, Iraq and Iran are mired in mutual suspicion. The volatile situation continued to support oil prices, with the United States and Brazzaville rising for three days, offsetting the impact of rising risk aversion.
1 the United States released a series of economic data: the number of early jobless claims recorded in the United States as of May 11 was 212000, below the expected 220000, and international gold fell more than $3 in the short term after the release of the data. The total number of new housing starts in the United States in April was 1.235 million, higher than the market forecast of 1.205 million, while the Philadelphia Fed manufacturing index rose to a four-month high of 16.6 in May, well above expectations of 9.0. Agency comments pointed out that the U. S. labor market remains strong, will provide strong support for the economy.
Minneapolis Federal Reserve Chairman Cashkali: I'm not sure how much impact the rate cut will have on inflation, and I don't want to use it as an insurance measure to affect the market. In his latest speech, Mr Kashkari said the Fed needed to see data showing that the economy was indeed weak before cutting interest rates. On the other hand, if wages grow too fast, the Fed can raise interest rates at any time.
Theresa May's "time is coming" and the pound has fallen for days. Graham Brady, chairman of the 1922 committee, said on Thursday that he would meet with British Prime Minister Theresa May after the second reading of the Brexit agreement. But people familiar with the matter said Graham Brady had decided whether or not the Brexit bill was passed in June would prompt Theresa May to resign and hold elections in the summer, according to financial website Forexlive. Former British Foreign Secretary Johnson said he would run for the leadership of the Conservative Party. On the back of the bad news, sterling fell 0.38 per cent against the dollar to break through the 1.28 mark.
There has been a lot of turmoil within OPEC, and Saudi Arabia, Iran and other countries have fallen into mutual suspicion. The Saudi deputy defense minister hinted that the blame for the attack on the Saudi Aramco pipeline was clearly on the Iranian side, and said that the Houthi armed forces were in fact "Iran's tools." On the other hand, according to Xinhuanet, Iranian Foreign Minister Jaward Zarif said in an interview with the media in New Delhi, India, that there were doubts about the attack on a merchant ship in the Gulf of Oman. He will discuss suspicious sabotage in the region with Indian Foreign Minister Ashma Swaraj.
5 Iraqi oil chief Jiaban: it is too early to expect whether the OPEC+ ministerial oversight committee will revise the production reduction plan. Jiaban said that Iraq has plans to deal with the impact of sanctions on Iran, and Turkey has asked to buy more oil from Iraq. As Jiaban spoke, the United States and cloth continued to pull up.
7 the European bond market is howling, and the ECB management committee has hinted that it may step in to help. French 10-year bond yields fell to 0.278 per cent, breaking their low since October 2016, while German 10-year bond yields fell to 4 basis points below Japanese 10-year yields, recording the biggest spread since the end of 2016, according to the data. ECB governing Board Visco said that if the economic situation continues to deteriorate, the ECB will not "stand idly by."
More than eight investment banks have been charged with foreign exchange manipulation and EU antitrust authorities have issued large fines. According to market news, the EU antitrust authorities fined a total of 1.07 billion euros on five investment banks, including Barclays, Royal Bank of Scotland, Citigroup, JPMorgan Chase and Mitsubishi UFJ, while UBS was meritorious in the revelations. Was granted a penalty exemption of 285 million euros. EU antitrust authorities said the banks had clearly violated the precepts by exchanging commercially sensitive information and trading plans with each other in an attempt to manipulate the foreign exchange market.
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The OPEC+ Ministerial Supervisory Committee meeting will be held over the weekend. There has been a lot of debate about the meeting, whether Saudi Arabia and Russia will propose to increase production, whether the next phase of production reduction plans will change significantly, are the focus of attention of market participants.