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The plunge in oil prices triggered turmoil in the futures market, the outer disk metal fell across the board, and safe-haven demand pushed the dollar up sharply.
Sep 9,2020 06:40CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM9 March 9: yesterday, the outer disk metal fell collectively, Lun Copper fell 1.21%, Lun Aluminum fell 0.14%, Lunzn Zinc dropped 3.45%, Lunni dropped 1.78%, Lunxi fell 1.15%, and Lunxi lead fell 2.89%. In the domestic market, Shanghai copper fell 1.03%, Shanghai aluminum fell 0.28%, Shanghai zinc fell 2.54%, Shanghai lead fell 1.51%, Shanghai nickel fell 1.72%, Shanghai tin fell 1.62%, thread dropped 0.48%, and stainless steel fell 2.16%.

The dollar index rose 0.46 per cent to 93.47 after rising to a four-week high of 93.50 in intraday trading. In addition to fears of Brexit, foreign exchange investors also bought dollars as US stock markets tumbled. The dollar index climbed to a four-week high on Tuesday, while U. S. technology stocks fell for the third day in a row, boosting safe-haven demand.

The three major indexes of US stocks fell sharply across the board, with the S & P 500 closing down 95.10 points, or 2.78%, at 3331.85; the NASDAQ closed down 465.40 points, or 4.11%, at 10847.69; and the Dow Jones Index closed down 632.40 points, or 2.25%, at 27500.89.

In terms of precious metals, gold prices fluctuated sharply on Tuesday, with spot gold falling more than 1% at one point to a recent two-week low of $1906.72 an ounce, before rebounding sharply, reaching as high as $1940.82 and now falling back near the 1930 mark. earlier, the sell-off in US stocks prompted investors to buy gold as a safe haven.

In terms of crude oil, WTI October crude oil futures closed down 3.01 U.S. dollars, or 7.57 percent, at 36.76 U.S. dollars per barrel, while Brent November crude oil futures closed down 2.23 U.S. dollars, or 5.31 percent, at 39.78 U.S. dollars per barrel. The stagnant recovery in Asia, the end of the peak summer driving season in the United States and the increase in OPEC+ supply point to a bleak short-term outlook for crude oil. Coupled with the weakening of the stock market, the price of crude oil fell below the key psychological threshold of $40 a barrel.

In terms of data, the previous value of Germany's unquarterly current account (billion euros) in July is 224, expected 173 to announce 200.

Euro area second quarter GDP final annual rate-15.00% expected-15.00% announcement-14.7%

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