Home / Metal News / Precious Metals / [overnight market] most of the metals at home and abroad are red, the US dollar is slightly red, and the near closing gold of Mei Oil has risen for the second week in a row.
[overnight market] most of the metals at home and abroad are red, the US dollar is slightly red, and the near closing gold of Mei Oil has risen for the second week in a row.
Sep 21,2020 00:30CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM9 March 21: on Friday, most of the outer disk metals were red, Lunzn Zinc rose 1.41%, Lunxi Copper and Lunxun Aluminum rose 0.81%, Lunxi rose 0.28%, Lenny Nickel fell 1.62%, Lunxi Copper hit its highest level in more than two years on Friday, as speculators continued to buy heavily as China's economy recovers and the dollar weakens. Domestically, Shanghai copper is up 1.25%, Shanghai lead is up 1.19%, Shanghai zinc is up 0.92%, Shanghai tin is up 0.7%, Shanghai aluminum is up 0.58%, and Shanghai nickel is down 0.63%.

The dollar index rose 0.11% to 93.01, while the dollar rose slightly on Friday as U.S. stocks fell as investors halted demand for risky assets, while the yen rose for the fifth day in a row, its biggest weekly gain since June. investors are seeking safe assets in the face of renewed concerns about the novel coronavirus epidemic in Europe and a lack of progress in the US fiscal stimulus talks.

Us stocks fell on Friday, with the Dow down 0.88% at 27657.42, the Nasdaq down 1.07% at 10793.28 and the s & P 500 down 1.12% at 3319.47. Technology stocks continued to decline, with all three major stock indexes falling for the third week in a row. The market is concerned about the deadlock in the US fiscal stimulus negotiations and the timetable for the launch of the vaccine.

In terms of precious metals, COMEX gold futures rose on Friday and rose for the second week in a row on a weaker dollar and concerns about the economic recovery from the novel coronavirus crisis. Analysts point out that the path with the least resistance is upward, because the Fed, all the stimulus measures from central banks around the world, and more fiscal stimulus if a deal is reached in Washington; all the favorable factors point to the rising price of gold.

Crude oil was largely flat on Friday, with oil prices under pressure a month after a Libyan commander said he would lift the blockade on the country's oil exports, but supportive signals from the OPEC meeting provided a boost. Us crude oil and Brent crude oil futures rose after Saudi Arabia put pressure on allies to comply with production quotas, Hurricane Sally reduced US production and banks such as Goldman Sachs predicted supply shortages.

On the data side, the US current account for the second quarter ($100 million), pre-value-1042, expected-1579, published-1705.

The US current account recorded-$170.5 billion in the second quarter, the lowest since the fourth quarter of 2008.

Agency review of the US current account in the second quarter: the US current account recorded-170.5 billion US dollars in the second quarter, soaring to the highest level in nearly 12 years, reflecting the impact of the epidemic on exports of goods and services.

The preliminary consumer confidence index of the University of Michigan in September, with a previous value of 74.1, is expected to be 75, with a release of 78.9.

Ataman Ozyildirim:, senior director of economic research at the American Consultative Council, although leading indicators for the US economy rose again in August, the slowdown in the pace of improvement suggests that this summer's economic rebound is likely to lose momentum in the final part of 2020.

The total number of oil drilling in the United States in the week to September 18, with a previous value of 180, is expected to be 178, announced at 179.

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