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Original Caption: FX168 Financial Newspaper Market Opened Early Self-Study: Biden Officially Signed 1.9 Trillion Dollar Bailout Bill, British Company New Crown Vaccine Suspended By Many Countries
FX168 Financial News (Hong Kong) reported that spot gold fell from a week-long high on Thursday, and the number of initial jobless claims in the United States was better than expected, leading to an increase in yields. of US bonds. Spot gold closed at $ 1,722.45 an ounce, down $ 4.12 or 0.24%.
The closing of the main currencies and commodities on March 11:
Exchange rate: EUR / USD closed at 1.1985; GBP / USD closed at 1.3992; AUD / USD closed at 0.7787; USD / JPY closed at 108.49; USD / Canadian dollar closed at 1.2527; USD / Swiss franc closed at 0.9243.
Commodities: Spot gold closed at US $ 1.72.45 / oz; Comex gold futures closed at US $ 1,722.60 / oz; spot silver closed at US $ 26.11 / oz; Comex silver futures closed at US $ 26.193 / oz; Brent crude closed at US $ 69.63 / barrel; NYMEX crude closed at US $ 69.63 / barrel US $ 66.02 / barrel.
Important news review:
1.3 After the closing of the Fourth Session of the 13th National People’s Congress on the 11th, Prime Minister Li Keqiang attended the press conference in the Golden Hall on the third floor of the Great Hall of the People and answered questions from Chinese journalists and foreign.
2. On March 11 local time, the President of the United States, Biden, formally signed a new crown epidemic aid bill totaling $ 1.9 trillion. This was the first major legislative motion passed by Congress during Biden’s tenure.
3. According to the news on the website of the Chinese Embassy in Germany on March 11, the spokesperson for the Chinese Embassy in Germany responded to the attack on the embassy in response to a query: In the early morning of March 10, a number of Molotov cocktails were thrown to the side of the office building of the Chinese Embassy in Germany. The attack caused no casualties and the suspect was arrested at the scene.
4. On March 11 local time, the president of the International Olympic Committee Bach announced at the 137th plenary meeting of the International Olympic Committee that he would provide vaccines purchased in China to participants of the Tokyo Olympic Games and the Beijing Winter Olympic Games .
5. The Taiwanese media “Liberty Times” reported that mainland China has recently exerted pressure on Taiwan from various channels. Recently, it has sent PLA military aircraft into the airspace to “harass” it. On Thursday it entered southwestern airspace and was driven away by the Taiwan Air Force broadcast.
6. Recently, the new corona vaccine developed jointly by the University of Oxford and the British company AstraZeneca was discontinued in Denmark due to suspected “blood clotting” side effects. On December 8, 2020, the complete clinical data for phase III of the AstraZeneca vaccine was published in The Lancet. These are the world’s first phase III clinical data for the new peer-reviewed corona vaccine. The data shows that the total effective rate of the vaccine is 70.4%. According to the report, a 49-year-old woman died of severe blood clotting dysfunction after receiving the batch of vaccines; another 35-year-old woman developed a pulmonary embolism and is currently recovering.
Market access point monitoring:
yellowGold priceGrid was backed by the signing of the new crown fiscal stimulus bill by the president of the United States, Biden, but it failed to overcome the March 2 high of $ 1,740 and continued to fall to $ 1,720. Although the weakness of the US dollar also provides further guidance for earnings, the yield on the US Treasuries still cannot be out of the sight of investors and has now recovered to more than 1.52%, once again declining. the price of gold and limit the impact of the optimistic outlook.
Gold Price Advancement Hits Biden! Biden Signs Stimulus Bill to Help US Treasury Yields.
Forex market
Euro: The euro / dollar rose for the third day in a row, closing at 1.1985, an increase of 0.49%. Technically, on the technical side, the initial resistance for the bullish exchange rate is at 1.2006, the additional resistance is at 1.2035 and the key resistance is at 1.2080; Initial support for the exchange rate to the downside is at 1.1933, additional support is at 1.1888, and the most critical support is at 1.1860.
GBP: GBP / USD rose for the third day in a row, closing at 1.3992, an increase of 0.44%. Technically, initial resistance for the bullish exchange rate is at 1.4015, additional resistance is at 1.4044, and key resistance is at 1.4093; Initial support for the bearish exchange rate is at 1.3936, additional support is at 1.3887 and the most critical support is at 1.3858.
Japanese Yen: USD / JPY rose for the first time in three days, closing at 108.49, an increase of 0.12%. Technically, the initial resistance of the bullish exchange rate is at 108.75, the additional resistance is at 109.01 and the key resistance is at 109.21; The initial support for the exchange rate on the downside is at 108.29, the additional support is at 108.09 and the most critical support is at 107.84.
stock Exchange
On Thursday (March 11) local time, United States President Biden formally signed the new $ 1.9 trillion crown bailout bill, which includes the distribution of a cash check from $ 1,400 to eligible individuals. The segment hit a new record high and the rise expanded to more than 300 points, the benchmark index also hit a record high, and the Nasdaq rallied more than 2%. At the close, the Dow Jones closed up 188.18 points, or 0.58%, to close at a record 32,485.20 points; The S&P 500 Index closed up 39.42 points, or 1.01%, at 3,938.23 points. Its intraday rose 1.3%, setting a record since February 16. The Nasdaq closed up 329.84 points, or 2.52%, at 13,398.67 points.
On Thursday (March 11), the European Central Bank announced that it would keep interest rates unchanged. Investors are paying close attention to clues on how the European Central Bank may respond to rising bond yields. The White House said President Biden and Vice President Harris will hold a signing ceremony for the 1.9 trillion stimulus bill in the Oval Office of the White House at 1:30 p.m. local time (2:30 a.m. Friday Hong Kong time). European stocks will all be on the same day. High closure. The pan-European Stoxx 600 Index rose 2.06 points, or 0.49%, to 424.17, the highest since February 2020. Among them, technology stocks rose 2.3% and stocks of banks fell 1.6%; the German DAX30 index closed 29.14 points, or 0.20%, higher at 14,569.39 points; Britain’s FTSE 100 index closed up 11.36 points, or 0.17%, at 6,736.96 points. ; the French CAC40 index closed up 43.21 points, or 0.72%, at 6,033.76 points; the Stoxx Europe 50 Index closed up 25.43 points, or 0.67%, at 3,845.35 points; the IBEX35 index for Spain closed up 64.80 points, or 0.76%, at 8,590.00 points; Rich Italy At the time, the MIB index closed up 195.41 points, or 0.82%, at 24,121.37 points.
Commodities market
Spot gold closed at $ 1,722.45 an ounce, down $ 4.12 or 0.24%, the intraday low of $ 1,719.10 an ounce and previously reached the highest level since March 3. at $ 1,739.78 an ounce.
April COMEX gold futures closed less than 0.1% higher at $ 1,722.60 an ounce.
The two main crude oil futures continued their gains on the previous day. As of press time, US WTI crude oil futures for April closed higher than US $ 1.58, or 2.45%, at US $ 66.02 per barrel, again exceeding US $ 66.02 per barrel. US $ 66 per barrel for the first time since March 8; May Brent crude oil futures closed US $ 1.73, an increase of 2.55%, at US $ 69.63 / barrel. In the previous day, US oil closed with a rise of 43 cents, or 0.67%, at 64.44 dollars a barrel; Bulk Oil closed up 38 cents, or 0.56%, at $ 67.90 a barrel.
Focus on Friday (March 12):
15:00 Final value of the monthly rate of the CPI of Germany for February
15:00 Monthly rate of UK GDP for three months in January, Monthly rate of UK industrial and manufacturing production in January
18:00 The monthly rate of industrial production in the Eurozone in January
9:30 PM PPI monthly rate for February US
9:30 PM Canadian employment in February, Canadian monthly rate of wholesales in January
23:00 Initial value of the consumer confidence index of the University of Michigan of March of the USA.
The total number of oil rigs in the United States as of 02:00 the next day through the week of March 12.
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