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[overnight quotation] Metal market green Shanghai lead Shanghai tin fell more than 1% US dollars slightly fell back COMEX gold closed higher
Sep 25,2020 06:54CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM9 March 24: yesterday, the metal in the outer disk was generally green, Lunxi fell 1.27%, Lunxi lead fell 0.53%, Lun Aluminum fell 0.4%, Lun Copper fell 0.3%, Lunni fell 0.17%, Lun Zinc was flat. Domestically, Shanghai lead fell 1.72%, Shanghai Tin fell 1.7%, Shanghai Nickel fell 0.76%, Shanghai Zinc fell 0.68%, Shanghai Aluminum fell 0.21%, Shanghai Copper fell 0.12%, the domestic market fell 1.72%, 1.7%, 0.76%, 0.68%, 0.21%, 0.12%, 0.21%, 0.12%, 0.12%, 0.21%, 0.12%.

The dollar index fell back, rising to 94.60 earlier, its highest level since July 24, as optimistic comments on the US economic recovery and renewed hopes of a new round of fiscal stimulus boosted market risk sentiment, while Republicans vowed orderly elections to calm nerves about the election. The Canadian dollar and sterling strengthened, while the Swedish krona lagged behind.

U. S. stocks closed slightly higher on Thursday, with Microsoft and Apple leading technology stocks higher. Investors are concerned about the uncertainty of the US election and the prospect of fiscal stimulus. Powell reiterated that the economy needs additional financial support. Mnuchin plans to restart fiscal stimulus negotiations with Congress. Democrats are said to have begun drafting a $2.4 trillion stimulus package. The Dow was up 52.31 points, or 0.20%, at 26815.44; the Nasdaq was up 39.28, or 0.37%, at 10672.27; and the S & P 500 was up 9.67, or 0.30%, at 3246.59.

In precious metals, COMEX futures rose on Thursday as the dollar fell slightly and Fed officials reiterated their commitment to loose monetary policy, while the recent fall in gold prices to a two-month low also boosted demand for low-suction buying. Gold is still down more than 4% this week, and the strength of the dollar has a major impact on gold's decline.

On the crude oil front, crude oil futures closed higher on Thursday, supported by signs of tightening crude supplies in the United States, although a new wave of outbreaks in Europe led to the resumption of travel restrictions in several countries, which could lead to weaker energy demand. Analysts point out that moribund crude oil prices and dire refining profits have led to a faltering recovery in demand, especially as the epidemic rebounds again. But fortunately, OPEC supply constraints and further declines in US supply in the fourth quarter and 2021 will offset this impact.

On the data side, Germany's IFO business climate index for September, the previous value of 92.6, expected to be 93.8, released 93.4.

The rising infection rate of IFO: COVID-19, a German think-tank, has hurt confidence in the service sector, especially in tourism.

The number of initial jobless claims in the United States in the week to September 19 (10,000), the previous value of 86, expected 84, announced 87, revised 86.6 (previous value).

Agencies commented on the data on initial jobless claims in the United States that week: the number of initial claims for unemployment benefits in the United States increased unexpectedly last week, supporting the view that the economic recovery after the novel coronavirus epidemic is losing momentum and government funds are dwindling. Government funding to help businesses has virtually dried up, and thousands of airline workers will face layoffs or leave next month if the White House and Congress do not provide another bailout plan.

The total number of new home sales in the United States in August was annualized (10,000 units), with a previous value of 90.1 and an expected value of 89.5. 101.1 was released, with a revision of 96.5 (previous value).

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