Overnight financial data comment: the United States wants to restart the economy inside and outside the market is up 2.64%

Published: Apr 18, 2020 13:31

SMM4, March 16: yesterday, the outer plate metal rose, Lunxi rose 0.7%, Lunbu rose 1.83%, Lunal fell 0.53%, Lunni rose 2.64%, Lun Zinc rose 0.98%, Lunlead fell 0.8%, the domestic metal rose, stainless steel rose 1.97%, Shanghai Zinc rose 1%, Shanghai lead rose 0.26%, Shanghai Nickel rose 3.35%, Shanghai Aluminum rose 2.69%, Shanghai Copper rose 1.73%, Thread fell 0.12%, and the domestic metal rose 1.97%, Shanghai Zinc rose 1%, Shanghai lead rose 0.26%, Shanghai Nickel rose 3.35%, Shanghai Aluminum rose 2.69%, Shanghai Copper rose 1.73%, Thread fell 0.12%. Shanghai tin rose 1.55%. The dollar index fell on Friday, falling 0.36 per cent to 99.71, up 0.22 per cent for the week, as investors were cautiously optimistic about the results of an antiviral yao experiment and US President Donald Trump's plan to restart the economy, and risk appetite picked up. The yield on the 10-year Treasury note rose 2 basis points to 0.65 per cent after the Fed slowed its bond purchases.

The S & P closed up 75.00 points, or 2.68%, at 2874.56. The NASDAQ closed up 117.80 points, or 1.38%, at 8650.14. The Dow closed up 704.80 points, or 2.99%, at 24242.49.

Gold prices tumbled on Friday, with spot gold breaking through the $1680 mark, the deepest drop of 2.20%, refreshing its lowest level since April 13 to $1679.94 an ounce, after President Trump introduced new guidelines to restart the US economy and preliminary data on a new crown pneumonia drug in the trial were encouraging, prompting investors to switch to riskier assets.

Oil prices fell sharply in New York on the 17th, while Brent oil prices rose in London. By the end of the day, light crude for May delivery on the New York Mercantile Exchange was down $1.60, or 8.05%, at $18.27 a barrel. Brent crude for June delivery rose 26 cents, or 0.93%, to $28.08 a barrel, the lowest level since January 2002.

Data, China's first quarter GDP annual rate-single quarter (%), the previous value: 6, expected:-6, released:-6.8.

China's first quarter GDP quarterly rate (%), the previous value: 1.5, expected:-12, announced:-9.8.

The epidemic affected China's economy in the first quarter from a year earlier. 6.8 percent of the main economic indicators fell significantly in March. According to data released by the National Bureau of Statistics on the 17th, the gross domestic product (GDP) fell 6.8 percent in the first quarter compared with the same period last year. In March, the decline of industrial value added and other indicators above scale was significantly narrower than that of the previous two months. Mao Shengyong, spokesman for the National Bureau of Statistics, said: on the whole, the overall economic and social situation in China remained stable under the impact of the new crown pneumonia epidemic in the first quarter. At the same time, we should also note that the current international epidemic continues to spread, the downside risks of the world economy have intensified, the uncertain factors of instability have increased significantly, and the resumption of work and production and economic and social development are facing new difficulties and challenges.

National Bureau of Statistics: according to preliminary accounting, the gross domestic product (GDP) in the first quarter was 20.6504 trillion yuan, down 6.8 percent year on year at comparable prices. In terms of sub-industries, the added value of the primary industry was 1.0186 trillion yuan, down 3.2%; the added value of the secondary industry was 7.3638 trillion yuan, down 9.6%; and the added value of the tertiary industry was 12.268 trillion yuan, down 5.2%.

[national Bureau of Statistics: the per capita disposable income of the national residents in the first quarter of 2020 was 8561 yuan, down 3.9 percent in real terms.] the National Bureau of Statistics announced today that the per capita disposable income of the national residents in the first quarter was 8561 yuan, an increase of 0.8 percent in nominal terms over the same period last year. Of this total, the per capita disposable income of urban residents was 11691 yuan, down 3.9 percent in real terms, while the per capita disposable income of rural residents was 4641 yuan, down 4.7 percent in real terms. The median per capita disposable income of residents across the country was 7109 yuan, down 0.7 percent.

China's annual rate of retail sales of consumer goods in March (%), previous value: 4, expected:-10, published:-15.8.

China January-March annual rate of total retail sales of consumer goods-YTD (%), previous value:-20.5, expected:-12.5, published:-19.

[China's retail sales of consumer goods fell 19 per cent in the first quarter from a year earlier] according to the Bureau of Statistics, retail sales of consumer goods totaled 7.858 trillion yuan in the first quarter, down 19.0 per cent from a year earlier. Of this total, retail sales of consumer goods totaled 2.645 trillion yuan in March, down 15.8 percent.

Annual rate of industrial value added above March in China (%), previous value:-5.4, expected:-6.2, announced:-1.1.

Annual rate of fixed assets investment in cities and towns in China from January to March-YTD (%), previous value:-24.5, expected:-15, announced:-16.1.

Eurozone March non-quarterly CPI annualized final value (%), previous value: 1.2, expected: 0.7, published: 0.7.

Eurozone March non-quarterly core CPI annualized final value (%), previous value: 1, expected: 1, published: 1.

Institutions comment on eurozone inflation data: eurozone CPI fell to an annualised rate of 0.7 per cent in March, well below the target set by the ECB.

The total number of drilling wells in the United States on April 17, the previous value: 602, expected: 583, announced: 529.

The total number of natural gas drilling in the week of April 17 in the United States, the previous value: 96, expected: 91, announced: 89.

The total number of oil wells in the week of April 17 in the United States, the previous value: 504, expected: 491, announced: 438.

The total number of oil wells in the United States fell for five weeks in the week to April 17, hitting its lowest level since October 2016.

New US dollar denominated small metal contracts on HKEx:

Key financial data for today's overnight:

"Click to sign up:" 2020 (Fifth) China International Nickel Cobalt Lithium Summit Forum "

To sign up for the Nickel Cobalt Lithium Summit or apply to enter the industry exchange group, please scan the code:

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
INE to Expand Tradable Options for Qualified Foreign Investors, Adding TSR 20 Rubber and Copper Contracts
7 hours ago
INE to Expand Tradable Options for Qualified Foreign Investors, Adding TSR 20 Rubber and Copper Contracts
Read More
INE to Expand Tradable Options for Qualified Foreign Investors, Adding TSR 20 Rubber and Copper Contracts
INE to Expand Tradable Options for Qualified Foreign Investors, Adding TSR 20 Rubber and Copper Contracts
According to an announcement by the Shanghai International Energy Exchange, with the approval of the China Securities Regulatory Commission, effective April 22, 2026 (from the night continuous trading session on April 21), the Shanghai International Energy Exchange (hereinafter referred to as INE) will further expand the range of tradable products available to Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors (collectively, Qualified Foreign Investors), with the newly added commodity options contracts open for trading as follows: TSR 20 rubber and international copper options contracts.
7 hours ago
Copper Inventories in Major Regions of China Continued Destocking During the Week [SMM Weekly Data]
7 hours ago
Copper Inventories in Major Regions of China Continued Destocking During the Week [SMM Weekly Data]
Read More
Copper Inventories in Major Regions of China Continued Destocking During the Week [SMM Weekly Data]
Copper Inventories in Major Regions of China Continued Destocking During the Week [SMM Weekly Data]
7 hours ago
SMM Copper Wire and Cable Operating Rate Rises Slightly to 70.77%, Market Performance Mediocre
7 hours ago
SMM Copper Wire and Cable Operating Rate Rises Slightly to 70.77%, Market Performance Mediocre
Read More
SMM Copper Wire and Cable Operating Rate Rises Slightly to 70.77%, Market Performance Mediocre
SMM Copper Wire and Cable Operating Rate Rises Slightly to 70.77%, Market Performance Mediocre
[SMM Copper Wire and Cable Operating Rate] The operating rate of SMM copper wire and cable enterprises was 70.77% this week, up 0.24 percentage points MoM. Overall operating performance was stable, while market performance was relatively mediocre. During the week, the pullback in copper prices suppressed the release of new orders, but enterprises had ample orders on hand and pending delivery, supporting basically stable production. New orders across downstream segments were generally weak, with demand in the home decoration sector particularly mediocre due to rising plastic raw material prices.
7 hours ago
Overnight financial data comment: the United States wants to restart the economy inside and outside the market is up 2.64% - Shanghai Metals Market (SMM)