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[overnight market] the US dollar soared for six weeks and US stocks collectively closed down. Gold fell sharply under the pressure of metals at home and abroad.
Sep 22,2020 06:46CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM9 March 22: yesterday, the outer disk metal fell across the board, Lunzn Zinc fell 2.96%, Lun Copper fell 2.43%, Lunni fell 2.09%, Len lead fell nearly 0.91%, Lun Aluminum fell nearly 0.75%, and Lunxi fell nearly 0.17%. Lunxi Copper fell from its highest level in more than two years on Monday, as the surge in novel coronavirus cases is likely to dampen economic activity and metal demand. Domestically, shanghai nickel fell 2.14%, shanghai zinc fell 1.89%, shanghai copper fell 1.45%, shanghai aluminum fell 0.55%, shanghai lead was flat, shanghai tin rose 0.01%.

The dollar index rose 0.56% to 93.52, while the dollar index surged to a nearly six-week high on Monday, while risky currencies fell as global stock markets tumbled by an increase in novel coronavirus cases and uncertainty over the November US election as investors sought safe havens. The euro, the Australian dollar and the Norwegian krona all fell against the US dollar, while US stocks tumbled as the UK and other European countries imposed another blockade as a result of the epidemic, raising concerns about the global economic recovery.

The three major indexes of US stocks collectively closed down, while technology stocks rebounded in late trading to help close flat. The Dow Jones index closed down 509.70 points, or 1.84%, at 27147.70. The S & P 500 index closed down 38.40 points, or 1.16%, at 3281.06. The NASDAQ closed down 14.50 points, or 0.13%, at 10778.80.

In precious metals, COMEX futures closed down nearly 3% on Monday as uncertainty about more fiscal stimulus in the United States triggered a broader market sell-off and a stronger dollar put pressure on the precious metals market. Analysts said the sell-off in global stock markets exacerbated negative sentiment, in part because of concerns about the rise in COVID-19 cases and the possibility of renewed restrictions on economic activity, as well as uncertainty about a new round of government rescue measures.

In terms of crude oil, US Oil fell sharply on Monday as an increase in new cases raised concerns about global demand and a possible resumption of production in Libya fuelled fears of oversupply. In addition, crude oil followed risk aversion in stock markets and other commodity markets on Monday as rising new cases in Europe and other countries prompted authorities to impose new restrictions and cast doubt on the economic recovery.

In terms of data, the Chicago Federal Reserve National activity Index in August, the previous value of 1.18, expected 1.19, released 0.79, revised 2.54 (previous value).

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