GDP in the United States hit a multi-year low in the second quarter, and the outer disk metal collectively fell 1%.

SMM7 March 31: yesterday, the Lunpan metal market fell across the board, with Luntan down 0.32%, Lun aluminum down 0.17%, Lunzn zinc down 0.39%, Lunni down 0.97%, Lunxi down 1%, and Lunxi lead down 0.45%. In the domestic market, shanghai copper fell 0.19%, shanghai aluminum rose 0.14%, shanghai zinc rose 0.4%, shanghai lead fell 0.29%, shanghai nickel fell 0.31%, shanghai tin fell 1.3%, thread dropped 0.56%, and stainless steel fell 0.07%. The real quarterly rate of GDP in the US recorded an annualised rate of-32.9 per cent yesterday, and analysts believe the US economy suffered its worst recession since at least the 1940s, highlighting the impact of the COVID-19 epidemic on US companies, which has caused millions of Americans to lose their jobs, and President Trump's speech to postpone the November election has boosted risk aversion.

The dollar index fell 0.35% to 92.94 in late trading. The dollar has fallen sharply for a month and is on track to record its worst monthly performance in a decade as the continued spread of the coronavirus in US states weighs on the economy. The industry believes that any form of uncertainty in the United States, whether economic or political, will cause the dollar to sell.

In terms of US stocks, the three major indexes of US stocks were mixed. The Dow Jones Industrial average closed down 225.90 points, or 0.85%, at 26313.65; the S & P 500 closed down 12.20 points, or 0.37%, at 3246.24; and the NASDAQ closed up 44.90 points, or 0.43%, at 10587.81.

In terms of crude oil, WTI September crude oil futures closed down US $1.35, or 3.27%, to settle at US $39.92 per barrel, while Brent September crude oil futures closed down US $0.81, or 1.85%, to settle at US $42.94 per barrel. The combination of weak economic data and political instability in the United States caused crude oil to fall nearly 6% in intraday trading.

In precious metals, COMEX December gold futures closed down 0.5% at $1966.80 an ounce. After nine consecutive days of gains and hitting record highs, gold prices fell on Thursday as positive results from a vaccine study damped safe-haven demand and spurred investors to take profits on the metal.

In terms of data,

Pre-unemployment rate in Germany after quarterly adjustment in July: 6.40% expected: 6.50% announcement: 6.4%

Institutional review of German unemployment figures for July: data released on Thursday showed that unemployment in Germany fell unexpectedly in July, boosting hopes that the labour market in Europe's largest economy has made some progress in emerging from the epidemic crisis.

Germany second quarter unseasonally adjusted GDP annual rate before initial value:-1.90% expected:-10.90% announcement:-11.7% revision:-1.8% (previous value)

There has been an unprecedented decline in German economic activity, but this has been expected by the market, taking into account the impact of the blockade measures and the outbreak. It is reasonable that the euro's response has been quite calm. Apart from reiterating that the second quarter of 2020 may be the worst quarter for the global economy on record, we don't get much information from this report. The current focus of the market is on the pace of recovery and progress in the third / fourth quarter.

Euro area unemployment rate before June: 7.40% expected: 7.70% announcement: 7.8%

Euro zone industrial climate index for July:-21.7 expected:-17 published:-16.2

Institutional reviews of data such as the euro zone economic index for July: data released on Thursday showed that economic confidence in the euro zone rebounded more than expected in July as the government relaxed restrictions related to the epidemic, although consumer confidence remained weak. But the industrial and service sector climate index recorded the biggest increase. In addition, according to the European Union Statistical Office, the unemployment rate in the euro area rose to 7.8% in June, higher than the revised unemployment rate of 7.7% in May. The number of unemployed is 203000, and the total number of unemployed is 12.685 million.

The number of Americans claiming unemployment benefits in the week ending July 25 (10,000). Previous value: 141.6 expected: 145. announcement: 143.4 Amendment: 142.2 (previous value)

Agency comments on initial jobless claims in the United States in the week to July 25: jobless claims rose for the first time in nearly four months in the week to July 18, and will rise again in the week of July 25. The number of jobless claims has been at an all-time high since the pandemic broke out in the United States in March.

Us second quarter actual GDP annualized quarterly rate pre-value:-5.00% expected:-34.5% announced:-32.9%

Agency reviews the preliminary annualised rate of real GDP in the US in the second quarter: the US economy suffered its worst recession since at least the 1940s, highlighting the impact of the COVID-19 epidemic on US companies, which has caused millions of Americans to lose their jobs.

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