SMM10 March 1: yesterday, the outer disk metal rose 1.13%, Lunxi and Lunni rose nearly 0.1%, and Lunxi, aluminum and zinc fell nearly 0.9%. Lunbrass rebounded on Wednesday due to strong economic data from major metal consumer countries China and the United States, getting rid of the negative impact of the surge in inventories. Benefiting from the continuous improvement in both supply and demand, China's official and Caixin manufacturing purchasing managers' index ((PMI)) expanded steadily in September, with the official manufacturing and non-manufacturing PMI reaching six-year and seven-year highs respectively. In the US, private employers stepped up hiring in September. ADP employment in the United States rose by 749000 in September, compared with a market estimate of 648000, compared with a previous figure of 428000, Automated data processing said on Wednesday.
The dollar index fell back on Wednesday as US Treasury Secretary Mnuchin expressed optimism about the possibility of progress in a new round of stimulus package negotiations, stimulating risk appetite and limiting the rise of the dollar. the plan may help mitigate the impact of the recession triggered by the novel coronavirus epidemic.
U. S. stocks closed higher on Wednesday. But all major stock indexes fell in September. Investors are still evaluating the controversial first presidential debate and the continuing fiscal stimulus stalemate. Pelosi and Mnuchin failed to reach an agreement on an anti-epidemic stimulus plan. On Wednesday, the Dow closed up 329.04 points, or 1.20%, at 27781.70; the Nasdaq was up 82.26 points, or 0.74%, at 11167.51; and the S & P 500 was up 27.53, or 0.83%, at 3363.00.
In precious metals, COMEX gold futures fell slightly on Wednesday for a fourth consecutive day as the chaotic first round of debate in the US presidential election prompted investors to hedge the dollar and raised concerns about the next stimulus bill. Analysts point out that it seems that after last night's debate, there may be a resurgence between the two parties, and the possibility of agreeing on any form of stimulus may have diminished.
In terms of crude oil, US crude oil futures closed higher on Wednesday as official data showed that weekly US crude oil stocks fell for the third consecutive week. However, oil prices still fell for the first time in five months as concerns remained about the outlook for the global economy and its impact on demand. U.S. crude oil inventories fell by 2 million barrels for the third week in a row in the week ended Sept. 25, while analysts expected an average increase of 1.9 million barrels, according to a report released Wednesday by the U.S. Energy Information Administration ((EIA)).
In terms of data, China's official manufacturing PMI, in September was 51, expected to be 51.2, and announced 51.5.
National Bureau of Statistics: at present, the work of overall epidemic prevention and control and economic and social development continues to advance, China's economy has maintained a steady recovery, and positive changes are increasing.
China's Cai xin manufacturing PMI, before 53.1 in September, expected to be 53.1, announced 53.
Wang Zhe, Senior Economist at Cai xin think Tank: after novel coronavirus's epidemic, the Synchronize on both sides of supply and demand improved, the economic recovery accelerated, and overseas demand strengthened significantly, complementing the domestic market. The continued high prosperity of the manufacturing industry will reduce the policy pressure in the next stage.
Germany's actual annual retail sales rate in August, the previous value of 4.2%, expected 4.2%, announced 3.7%, revised 5% (previous value).
The number of unemployed in Germany after the quarterly adjustment in September (10,000), the previous value is-0.9, expected to be-0.8, reported-0.8. Germany's unemployment rate after the quarterly adjustment in September, the previous value of 6.40%, is expected to be 6.40%, reported 6.3%.
Agency comments on German unemployment figures after the September quarter: the number of German jobless claims fell again in September and was better than expected, further evidence that the country is on the path of recovery.
The number of ADP employment in the United States in September (10,000), the previous value of 42.8, expected 65, published 74.9, revised 48.1 (previous value).
ADP employment in the United States recorded 749000 in September, the third largest increase on record.
Chicago PMI, in September, the pre-value of 51.2, expected 52, announced 62.4.
The final value of the actual annualized quarterly rate of GDP in the United States in the second quarter, the previous value is-31.70%, the expected value is-31.7%, and the announcement is-31.4%. The real annualized quarterly rate of GDP in the United States in the second quarter recorded an annualized quarterly rate of-31.4%, an initial value of-32.9%, and a correction of-31.7%, still the largest decline since records began.
Forexlive analyst Greg Michalowski: US second-quarter real GDP annualized quarterly rate is still the biggest decline on record, but this is no longer news. The data are expected to rebound in the third quarter. But traders may not be affected by these figures until the fourth-quarter figures are released, provided there are no further closures.
Financial blog zero hedging: in the third estimate of US GDP in the second quarter, the largest economic contraction in US history was slightly raised, and the final annualized rate of real GDP in the US in the second quarter rose to-31.4% from the last revised value of-31.7%, which is also an improvement from the initial value. Still, the situation is pretty bad, considering that almost 1/3 of the U. S. economy has actually shut down on an annualized basis. The GDP data adjustment reflects an upward revision of consumer spending in services, but this adjustment is offset by a downward revision of exports and corporate investment in intellectual property products.
The final annualized quarterly rate of the US core PCE price index in the second quarter, the previous value is-1.00%, the expected value is-1%, and the announcement is-0.8%.
The monthly rate of signed sales index of existing homes in the United States in August, with a previous value of 5.90%, is expected to be 3.4%, and 8.8% is announced.
Institutional review of US existing home sales index data in August: the US existing home contract sales index surged to a record high in August, indicating that property market activity is accelerating at a time when mortgage rates are at a record low. Although the novel coronavirus epidemic has left millions out of work, the property market continues to grow, with the burden of unemployment falling disproportionately on low-income people in the service sector, most of them young people.
Us EIA crude oil inventory (10,000 barrels) for the week to September 25, previous value-163.9, expected 156.9, announced-198.
(EIA): crude oil stocks in the Midwest rose last week to their highest level since May, while gasoline inventories in the Midwest fell to their lowest level since November 2017.
Zero hedging comments on financial blogs EIA crude oil inventory data for the week of September 25th: oil prices remained around $39.50 / barrel after the release of EIA data. Oil prices rebounded overnight as stocks were boosted by hopes of fiscal stimulus, while API crude oil reported a decline in inventories. "traders think oil demand is fragile," said Masiu, a senior oil market analyst at Rystad Energy. By the last quarter of 2020, part of the production demand is likely to be converted to inventory. "
