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[overnight] Lunxi rose more than $1 per cent to an eight-week high and US stocks closed higher and COMEX futures fell again.
Sep 23,2020 06:47CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM9 March 22: yesterday, the outer plate metal rose 1.26%, Lunxi rose 1%, Lunni rose 0.28%, Lunzn zinc fell 0.14%, Lun aluminum fell 0.17%, Lun lead fell 0.5%, and Lunchu rebounded on Tuesday, as investors took advantage of the opportunity to fall back from two-year highs and inventories continued to decline. Domestically, shanghai tin rose 1.42%, shanghai lead rose 0.91%, shanghai aluminum rose 0.17%, shanghai copper rose 0.02%, shanghai zinc fell 0.23%, shanghai nickel fell 0.26%.

The dollar index rose to an eight-week high on Tuesday after a senior Fed official expected hawks when referring to the prospect of raising interest rates, deepening already risk aversion among investors. The euro hit a nearly six-week low against the dollar and although the decline narrowed, the epidemic in Europe continued to ferment, said European Central Bank Executive Board Leon Panetta. The appreciation of the euro is a factor that we need to pay close attention to. In addition, many European countries imposed new local restrictions on the 18th to reduce the increasing number of cases of COVID-19, which are trying to avoid a second nationwide blockade like Israel.

U. S. stocks closed higher on Tuesday, led by technology stocks. The S & P 500 rose for the first time in five days. The market is concerned about the progress of the US fiscal stimulus measures, as well as the congressional testimony of Federal Reserve Chairman Colin Powell and US Treasury Secretary Mnuchin. Powell said that the road to economic recovery in the United States is long, that it still needs financial support, and that direct financial support is better than Fed loans. The Dow rose 140.48 points, or 0.52%, to 27288.18; the Nasdaq rose 184.84 points, or 1.71%, to 10963.64; and the S & P 500 rose 34.51 points, or 1.05%, to 3315.57.

In terms of precious metals, COMEX gold futures closed down for a second straight session on Tuesday as the dollar continued to rise after restrictions were imposed in London and other parts of Europe due to a surge in the number of new cases. The increase in COVID-19 infections in Europe and the United States has raised investor doubts about the global economic recovery, prompting investors to flee to the dollar, putting pressure on gold.

In terms of crude oil, US Oil closed slightly higher on Tuesday, following a slight rebound in the sell-off triggered by a surge in the number of new overseas cases the previous day, focusing on weekly crude oil inventory data in the United States. Analysts said a new round of European blockade restrictions would have a limited impact on fuel demand, which could prevent a massive sell-off in the oil market. As major oil producers continue to restrict supply, market trading is stuck in ranges for most of the summer.

In terms of data, the total number of existing home sales in the United States in August was annualized (10,000 units), with a previous value of 586, expected to be 600, and announced 600.

The total number of existing home sales in the United States in August reached an annual high of 6 million, a 14-year high. Agencies review the annualized total sales of existing homes in the US in August: us home sales surged to their highest level in nearly 14 years as the housing market continued to outperform the overall economy and the housing market remained resilient despite nearly 30 million people receiving unemployment benefits. but record house prices could pose an obstacle for first-time buyers.

Euro zone consumer confidence index for September, the previous value of-14.7, expected-14.6, released-13.9.

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