SMM4 March 16: yesterday, the outer disk metal was generally red, Lunchu rose 2.53%, Len aluminum rose 0.3%, Lunzn zinc rose 1.34%, Lunni fell 0.31%, Lunxi rose 1.42%, Lunxi lead rose 1.43%, and Lunchu rose on Thursday, as banks increased their bets on copper consumption this year and focused on its long-term role in the transition to a low-carbon economy. Copper is used in cables, buildings, and increasingly in electric cars and wind turbines. This triggered a wave of bets on surging demand and rising prices. Domestically, international copper rose 2.41%, Shanghai copper rose 2.51%, Shanghai aluminum rose 0.83%, Shanghai lead rose 0.71%, Shanghai zinc rose 1.41%, Shanghai nickel rose 0.72%, and Shanghai tin rose 1.71%.
The dollar index rose 0.05 per cent to 91.68; the dollar has been at a disadvantage this month as bond yields remain stable below the one-year high hit last month. Us bond yields have fallen as the Fed reaffirmed its commitment to keep interest rates near zero in the coming years and some fear that the recent rise in inflation will be temporary.
Us stocks hit a record high on Thursday, with the Dow rising more than 300 points to rise above the 34000 mark for the first time. Strong economic data and results confirm that the US economic recovery is accelerating. The number of US jobless claims hit an one-year low last week, retail sales reached the highest level since May last year, and manufacturing output rose the most in eight months in March. The Dow rose 305.10 points, or 0.90%, to 34035.99; the Nasdaq rose 180.92 points, or 1.31%, to 14038.76; and the S & P 500 rose 45.76 points, or 1.11%, to 4170.42.
In terms of crude oil, NYMEX crude oil futures hit a four-week high on Thursday as U.S. economic data improved and the International Energy Agency ((IEA)) and the Organization of Petroleum Exporting countries (OPEC) (OPEC) raised their oil demand forecasts as major economies began to recover from the epidemic. Retail sales in the US recorded their biggest increase in 10 months in March as Americans received a new batch of epidemic relief checks issued by the government and novel coronavirus's vaccination push brought more sectors of the economy back to work.
In precious metals, COMEX gold futures posted their biggest one-day gain since March and closed at a seven-week high on Thursday as US Treasury yields fell despite better-than-expected US economic data, prompting investors to buy gold as a hedge against possible future inflation. The weak dollar hit a four-week low earlier, making gold more attractive to holders of other currencies. Yields on 10-year Treasuries fell, further boosting the attractiveness of unyielding gold.
In terms of data, the final monthly rate of CPI in Germany in March, with a previous value of 0.50%, is expected to be 0.50%, and 0.5% is announced.
The number of initial jobless claims in the United States in the week to April 10 (10,000), with a previous value of 74.4, expected to be 70, announced 57.6, revised 76.9 (previous value).
Agency comments on the number of initial jobless claims in the United States: the number of initial jobless claims last week is still relatively high, but this may not really reflect the health of the job market. The strengthening of unemployment benefits, including weekly subsidies, may cause some people to apply for assistance and discourage others from looking for jobs. [from Golden Ten data]
Us March retail sales monthly rate, previous value-3.00%, expected 5.9%, announced 9.8%, revised-2.7% (previous value).
CNBC comments on US Retail sales in March: as Congress agreed to a positive stimulus package, the US economy continued to get a boost, with a new round of economic stimulus package fuelling a sharp increase in consumption in March. The retail sales report is another sign that consumers are generally healthy and willing to spend, although more and more stimulus spending goes to savings rather than spending.
Agencies reviewed US retail sales figures for March: the monthly rate of US retail sales in March recorded 9.8 per cent, the highest since May last year, as companies reopened and hiring increased. and a new round of economic stimulus measures, including the issuance of cheques to individuals, have encouraged consumers. Next, the acceleration of novel coronavirus's vaccination and the relaxation of restrictions will further support sales, especially in industries hardest hit by social distance measures.
Us industrial output monthly rate in March, previous value-2.20%, expected 2.8%, announced 1.4%, revised-2.6% (previous value).
Federal reserve: us industrial output rose 1.4% month-on-month in march, and the decline in February was mainly due to severe winter weather in the south-central part of the United states, causing widespread power outages. Manufacturing and mining output rose 2.7 per cent and 5.7 per cent respectively in March. Utility output fell 11.4 per cent as demand for heating fell in March. In the first quarter, gross industrial output increased by 2.5% compared with the same period last year.
