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Chinese A shares suffered Black Thursday US stocks collectively fell gold lost 1800 US dollars
Jul 17,2020 07:05CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 17: non-ferrous metals were mixed yesterday. By the close, Lun Copper rose 0.24%, Lun Al fell 0.6%, Lun Zinc rose 0.59%, Lunni fell 1%, Lunxi rose 0.26%, and Lunxi fell 0.76%. In the domestic market, Shanghai copper rose 0.45%, Shanghai aluminum fell 0.35%, Shanghai zinc rose 0.85%, Shanghai lead fell 1.19%, Shanghai nickel fell 0.32%, Shanghai tin rose 0.58%, thread fell 0.35%, and stainless steel rose 0.33%.

The dollar index rebounded, its biggest gain in nearly a week. U. S. economic data are mixed, with retail sales rising for the second month in a row in June, according to a report from the U.S. Department of Commerce. But a separate report released by the Labor Department on Thursday said the new crown epidemic is getting worse again and is undermining the nascent recovery, with 32 million Americans still receiving unemployment benefits. Overall, the US retail sales figures are quite positive, said Mazen Issa, senior foreign exchange strategist at TD Securities. But I don't think the situation has really changed in the foreign exchange market.

In terms of US stocks, all three major indexes closed down, with the S & P 500 closing down 11.00 points, or 0.34%, at 3215.57; the NASDAQ closed down 76.70 points, or 0.73%, at 10473.83; and the Dow Jones Index closed down 135.50 points, or 0.50%, at 26734.64. Analysts believe that due to the impact of the epidemic, California announced that it would postpone economic restart, raising investor concerns and weakening the rising momentum of US stocks.

For crude oil, oil prices ended a two-day rally yesterday, with OPEC + implementing a production cut agreement of 9.7 million b / d, or 10 per cent of global supply, since May, after the epidemic led to a 1/3 drop in global demand. After July, oil-producing countries plan to reduce production cuts by 7.7 million barrels a day by December. The OPEC+ alliance's decision to scale back production cuts and US data showing a slowing labour market recovery highlight the weak outlook for oil demand and downward pressure on oil prices.

In terms of precious metals, gold fell below the $1800 / oz mark, hitting as low as $1784.76 / oz, but a market analyst still believes that gold prices have the potential to continue to rise. Ole Hansen, head of commodity strategy at Saxo Bank, said in a market report on Wednesday: "tensions between the US and China are rising as the dollar's main support is under attack, and real yields fall further into negative value, which is the basis of the rally."

In terms of data,

China's second quarter GDP annualized rate, previous value-6.8%, forecast value 2.5%, published value 3.2%.

UK unemployment rate in June, previous 7.8% forecast-published 7.3%

Number of applicants for unemployment benefits in the UK in June (10,000), previous value 52.89 forecast value 25 published value-2.8

Euro zone trade account after quarterly adjustment in May (billion euros), previous value 12, forecast value 45 published value 80

Euro zone to July 16 ECB main refinancing rate, previous value 0% forecast value 0% published value 0%

The number of initial jobless claims in the United States in the week to July 11 (10,000), with a previous value of 131, a predicted value of 125 and a published value of 130.

Agencies reviewed the data on initial applications for unemployment benefits in the United States that week: the number of initial claims for unemployment benefits in the United States recorded 1.3 million in the week to July 11, down slightly from the previous value, but still higher than the 1.25 million expected by the market. The number of first-time applicants in the United States reached a record high of 6.867 million in late March, and even now it is still about twice as high as it was during the Great Depression of 2007-2009. Economists say the high number of initial jobless claims is due to a second wave of layoffs. As the new crown pneumonia epidemic suppresses demand and increases corporate bankruptcies, especially in the retail sector, the number of first-time applicants is likely to increase further.

Monthly retail sales rate in the United States in June, previous value 18.2%, forecast value 5%, published value 7.5%

Agency reviews US retail sales data for June: us retail sales grew faster than expected in June, but the resurgence of new crown pneumonia cases and high unemployment are threatening the nascent economic recovery. Retail sales rebounded as businesses closed in mid-March to slow the spread of the new crown virus resumed operations. But new crown pneumonia cases have surged again, especially in the densely populated southern and western regions, forcing some government departments in these areas to either close businesses again or suspend business reopening. The uncertainty is having an impact on the economic recovery that began in May and could worsen the already frighteningly high unemployment rate.

Us July NAHB real estate market index, previous value 58, forecast value 60, published value 72

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