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Original Caption: FX168 Financial Newspaper Market Opened Early Self-Study: Trump Delivered Farewell Address: I Wish New Government Success, Biden’s Inauguration Has Been Slightly Reduced
FX168 Financial News (Hong Kong) reported that as the US dollar is still under pressure, the prospect of further stimulus measures has boosted the appeal of gold as an inflation hedging tool. Gold prices maintained their gains on Tuesday. Spot gold closed at US $ 1,840.13 an ounce, an increase of US $ 3.04 or 0.17%.
Top currencies and commodities closed on January 19:
Foreign exchange:EUR/ USD closed at 1.2128;GBP/ USD closed at 1.3634;Australian dollar/ USD closed at 0.7692; USD / JPY closed at 103.90; USD / CAD closed at 1.2736; USD /Swiss francClosed at 0.8882.
Commodities: spot gold closed at US $ 1,776.70 / oz; Comex gold futures closed at US $ 1780.90 / oz; spot silver closed at US $ 25.21 / oz; Comex silver futures closed at US $ 25,320 / oz; Brent crude closed at US $ 55.90 / barrel; NYMEX crude closed at US $ 52.98 / barrel.
Important news review:
1. On January 19 local time, the White House released a video of President Trump’s farewell speech when he left office. Trump said the new administration will take office this week and asked the American people to pray that the new administration can successfully protect the security and prosperity of the United States.
2. Russia’s Satellite News Agency reported on January 19 that Iran added US President Trump, US Secretary of State Pompeo, US Secretary of the Treasury Mnuchin, and several former officials Americans to the sanctions list.
3. US Treasury Secretary candidate Yellen told members of the Senate at his nomination confirmation hearing Tuesday that the value of the dollar should be determined by the market. Yellen also reiterated her commitment to rescue measures and emphasized the depth of the economic crisis.
4. On January 20 local time, Biden will be formally sworn in as President of the United States. However, due to the recent outbreak of unrest in Congress in the United States and the severe epidemic, the scale of the inauguration ceremony of the American president this year will be greatly reduced.
5. Blinken, the candidate for Secretary of State for President-elect Biden of the United States, stated on January 19 that he believed current President Trump was right to take a tougher approach to China.
6. On the 20th, local time, Biden will be formally sworn in as President of the United States. However, due to the recent outbreak of unrest in Congress in the United States and the severe epidemic, the scale of the inauguration ceremony of the American president this year will be reduced considerably. The US media said this will be an inauguration that has never been seen in US history.
Market Hot Spot Tracking:
The gold market absorbed the expected testimony of the candidate for Secretary of the Treasury of the United States, Yellen, and the price of gold remained unchanged around 1840 dollars. The calm before the storm indicates that gold investors are focusing on the inauguration of Democratic presidential candidate Biden. Any more recent information on the president-elect and his plans and agendas will become a catalyst for the trend in gold prices. It is also worth noting that US President Trump’s speeches and actions at the end of his resignation will continue to attract investors’ attention. Outside of the US elections, the new crown epidemic and the disputes between China and the United States will continue to worry investors.
1840 Gold Prices Consolidate! Before the storm, cautious attitude is high. Biden’s inauguration is highly anticipated
Forex market
Euro: Euro / USD rose for the first time in five days, closing at 1.2128, an increase of 0.45%. Technically, the initial resistance for the bullish exchange rate is at 1.2157, the additional resistance is at 1.2186 and the key resistance is at 1.2228; Initial support for the bearish exchange rate is at 1.2086, additional support is at 1.2044 and the most critical support is at 1.2015.
GBP: GBP / USD rose for the first time in three days, closing at 1.3634, an increase of 0.37%. Technically, the initial resistance for the bullish exchange rate is at 1.3652, the additional resistance is at 1.3677 and the key resistance is at 1.3718; Initial support for the bearish exchange rate is at 1.3587, additional support is at 1.3546 and the most critical support is at 1.3521.
Japanese Yen: USD / JPY appeared and closed at 103.90, an increase of 0.21%. Technically, the initial resistance for the bullish exchange rate is at 104.10, the additional resistance is at 104.31 and the key resistance is at 104.54; Initial support for the bearish exchange rate is at 103.66, further support is at 103.44 and the most critical support is at 103.22.
stock Exchange
As investors took in the results of the latest earnings season, a new round of large-scale stimulus measures, and signs to accelerate the pace of vaccine distribution, the US stock market rebounded after a difficult week and rose slightly on Tuesday (January 19). At the close, the Dow Jones closed up 116.30 points, or 0.38%, at 30,930.52 points; the S&P 500 index closed up 30.70 points, or 0.81%, at 3,798.91 points; The Nasdaq closed up 198.70 points, or 1.53%, at 13,197.18 points.
European stock markets fell across the board on Tuesday (January 19), investors were concerned about the hope for an economic recovery, and the appointment of the incoming US Treasury Secretary Janet Yellen (Janet Yellen), confirmed the speech. The pan-European Stoxx 600 index closed down 0.76 points, or 0.19%, to 407.92 points, with basic resources and tourism stocks leading the fall, 1.3%; the German DAX30 index closed down 33.29 points, or 0.24%, to 13,815.06 points; Britain’s FTSE 100 index closed 7.70 points, or 0.11%, at 612.95 points; the French CAC40 index closed down 18.66 points, or 0.33%, to 5,598.61 points; The Stoxx Europe 50 Index closed 7.52 points, or 0.21%, to report. 3595.15 points; the IBEX35 index for Spain closed with a drop of 54.50 points, or 0.66%, to 8,200.00 points; Italy’s FTSE MIB index closed down 57.17 points, or 0.25%, to 22,441.72 points.
Commodities market
At the end of the US market, spot gold closed at $ 1,776.70 per ounce, down $ 9.43 or 0.53%. The highest intraday was $ 1,789.85 per ounce, and the lowest level since the 2nd of the month was $ 1,764.34 per ounce. The cumulative drop in November was US $ 102.23, or 5.44%, which was the fourth consecutive month of decline.
The COMEX gold futures for February closed down 0.4% at US $ 1,780.90 an ounce, a record low since the beginning of July, while the cumulative fall in November was 5.6%, the fourth month consecutive fall.
Crude oil Brent fell to a low of nearly a week on Monday due to the strengthening US dollar, the increase in confirmed cases of new coronary pneumonia around the world and the slow vaccination process. However, China’s fourth-quarter economic growth data was better than expected, Libya’s crude oil exports declined due to pipeline leaks, and geopolitical tensions supported the stabilization and recovery of oil prices. Both crude futures closed on Tuesday (Jan 19). As of press time, March US WTI crude oil futures closed up 62 cents, or 1.18%, at US $ 52.98 per barrel; March Brent crude oil futures closed up US $ 1.15, or 2.10%, at US $ 55.90 per barrel.
Focus on Wednesday (January 20):
18:00 Final value of the annual rate of the December CPI of the euro zone and monthly rate
21:30 Monthly rate of the Canadian December CPI
23:00 Bank of Canada Announces Interest Rate Resolution
23:00 US January NAHB Housing Market Index
00:30 the following day the United States celebrates the inauguration of the 46th president
01:00 the next day, the Governor of the Bank of England, Bailey, attended the forum
05:30 Next-day API crude inventory for the United States for the week of January 15
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