SMM11 March 13: yesterday, the outer disk metal market was red, fat and thin, with lead up 0.91%, aluminum up 0.55%, copper up 0.44%, Lunxi up 0.03%, Lunzn down 0.15% and Lenny down 0.63%. (LME) copper futures on the London Metal Exchange rose on Thursday as novel coronavirus vaccine could make more progress and the delivery of the vaccine could revive the global economy and stimulate metal demand. Analysts point out that the vaccine news is positive and should support industrial metals, as it means that economies can open up, but with or without vaccines, the fundamentals of copper look good. In the domestic market, Shanghai lead rose 1.17%, Shanghai Aluminum rose 1.05%, Shanghai Nickel rose 0.67%, Shanghai Copper rose 0.37%, Shanghai Zinc fell 0.2%, and Shanghai Tin fell 0.21%.
The dollar fell 0.04% to 92.97; the latest weekly jobless claims report did not affect the dollar when it was released Thursday morning. Initial claims for unemployment benefits fell to 709000, compared with 757000 the previous week and an estimated 735000, according to the report. The dollar index fell slightly on Thursday, and the novel coronavirus vaccine is unlikely to change a severe winter in the United States and Europe, making investors cautious.
U. S. stocks closed lower on Thursday. The optimism aroused by the good news of du vaccine for coronary disease gradually faded. The number of new novel coronavirus cases in the United States has exceeded 100000 for nine consecutive days, causing investors to worry that the economic recovery may be dragged down. Federal Reserve Chairman Colin Powell says the outlook for the U. S. economy is still uncertain. The Dow fell 317.46 points, or 1.08%, to 29080.17; the Nasdaq fell 76.84 points, or 0.65%, to 11709.59; and the S & P 500 fell 35.65 points, or 1.00%, to 3537.01.
In terms of crude oil, WTI December crude oil futures closed down 33 cents, or 0.80 percent, at 41.12 U.S. dollars per barrel, while Brent January crude oil futures closed down 27 cents, or 0.61 percent, at 43.53 U.S. dollars per barrel. Oil prices fell on Thursday, dragged down by a surge in novel coronavirus cases hampering the global economy and an unexpected increase in US crude oil stocks. Oil futures are in line with the US stock market, which also fell on fears of a pandemic. Europe is grappling with a sharp increase in infections and new social restrictions. In the United States, there have been more than 100000 new cases a day in recent days, and the number of new cases in more than 12 states has more than doubled in the past two weeks.
In precious metals, COMEX December gold futures closed up 0.6% at $1873.30 an ounce. COMEX gold futures rose on Thursday as US COVID-19 cases continued to surge amid concerns about logistics after the launch of COVID-19 's vaccine and hopes of more fiscal and monetary stimulus. Analysts point out that the (gold) market is focused on stimulus measures and the number of novel coronavirus cases, which are continuing to rise.
In terms of data, the final monthly rate of CPI in Germany in October, with a previous value of 0.10%, is expected to be 0.10%, and 0.1% is announced.
The monthly rate of CPI after the quarterly adjustment in the United States in October, with a previous value of 0.20%, is expected to be 0.1%, and 0% is announced.
Forexlive analyst Adam Button comments on the monthly CPI rate after the October quarterly adjustment: the data is lower than expected, but it will not suddenly prompt the Fed to act. Federal Reserve Chairman Colin Powell is watching the progress of COVID-19 's cases and restrictions. This will dominate in the coming months. Inflation will be important news only if the epidemic is solved.
The number of initial jobless claims in the United States in the week to November 7 (10,000), with a previous value of 75.1, is expected to be 73.5, and 70.9 will be announced.
The number of initial claims for unemployment benefits in the United States recorded 709000 in the week to November 7, the lowest since the week of March 14, and has been below 1 million for 11 consecutive weeks. CNBC comments on the data of initial jobless claims in the United States: last week, the number of initial jobless claims continued to decline, hitting a new low during the COVID-19 pandemic, indicating that the labor market is gradually improving.
