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Original Caption: FX168 Morning Self-Study: Suez Canal Stranded Freighter Has Resumed Normal Shipping, Xinjiang Officials Shouted To HM: Keep Your Eyes Open
FX168 Financial News (Hong Kong) Asian Market News on TuesdayDollar indexAt around 92.90, spot gold remains under pressure, currently at around $ 1,711 an ounce. Gold prices fell more than 1% on Monday (March 29) to a low in more than two weeks due to the strengthening US dollar and rising US Treasury yields. safe haven metals.
The closing of the main currencies and commodities on March 29:
Foreign exchange:EUR/ USD closed at 1.1763;GBP/ USD closed at 1.3758;Australian dollar/ USD closed at 0.7628; USD / JPY closed at 109.80; USD / CAD closed at 1.2590; USD /Swiss francClosed at 0.9391.
Commodities: spot gold closed at $ 1,712.20 an ounce; Comex gold futures closed at $ 1,712.20 an ounce; cash silver closed at $ 24.66 an ounce; Comex silver futures closed at $ 24,771 an ounce; Brent crude oil closed at $ 64.98 a barrel; NYMEX crude oil closed at $ 64.98 per ounce, $ 61.56 per barrel.
Important news review:
On the 29th, Chinese Foreign Ministry spokesman Zhao Lijian said when asked by reporters, “In 2020, the harvesting rate of cotton machinery in Xinjiang has reached 70%. Does it mean forced labor with machines? “
2. Egypt’s Suez Canal Authority issued a statement on March 29, stating that the stranded freighter had fully recovered to its normal shipping route.
3. In response to the recent problem of H&M and other brands boycotting Xinjiang cotton, Xu Guixiang, spokesman for the People’s Government of Xinjiang Uygur Autonomous Region, said: “As an international company, we should see this. We hope that more companies like H&M will keep its eyes open. Distinguishing right from wrong. “
On April 29, Foreign Ministry spokesman Zhao Lijian said in response to a journalist’s question: “The door to Xinjiang is always open. We welcome the visit of the United Nations High Commissioner for Human Rights. Human Rights to Xinjiang “.
Market access point monitoring:
The price of gold has been slow and has continued to fall and even reached US $ 1705. Currently it remains close to US $ 1710. The recovery of the new vaccination plan of the crown has prompted investors to resort to prices of stock futures, and safe-haven gold has been seriously challenged. Although the Sino-US geopolitical war has morphed from a war of words into actual sanctions, China and the United States have yet to adopt the latest measures. Investors should continue to pay attention to the dynamic updates of US President Biden’s multilateral alliance. No, the risks will be difficult Leading the rise in gold prices again.
Gold Price Plummeted! Vaccination Recovery Putting Pressure on China and US Geopolitical Risks Hard to Get Around
Forex market
Euro: The euro / dollar fell and closed at 1.1763, a decrease of 0.26%. Technically, the initial resistance for the bullish exchange rate is at 1.1784, the additional resistance is at 1.1806 and the key resistance is at 1.1818; Initial support for the bearish exchange rate is at 1.1751, additional support is at 1.1739, and the most critical support is at 1.1717.
GBP: GBP / USD fell for the first time in three days, closing at 1.3758, a decrease of 0.22%. Technically, the initial resistance for the bullish exchange rate is at 1.3818, the additional resistance is at 1.3878 and the key resistance is at 1.3910; Initial support for the bearish exchange rate is at 1.3727, additional support is at 1.3695 and the most critical support is at 1.3435.
Japanese yen: The dollar / yen rose for the fourth day in a row, closing at 109.80, an increase of 0.15%. Technically, the initial resistance for the bullish exchange rate is at 109.99, the additional resistance is at 110.15, and the key resistance is at 110.46; Initial support for the exchange rate on the downside is at 109.51, additional support is at 109.20, and the most critical support is at 109.03.
stock Exchange
Affected by the turmoil from the Archegos Capital Fund liquidation and rising 10-year US Treasury yields, the Dow fell 167 points in the early part of Monday (March 29) and fell temporarily. to 32905 points during the session. fell 1.29%. It was as low as 12,968 points. Later, the White House said that the Pakistani government was closely monitoring the stock market crash on Monday. With the support of Boeing and pharmaceutical stocks, the Dow regained all lost ground, slightly appeared in the middle, and the Nasdaq’s slide also eased. At the close, the Dow Jones closed up 98.62 points, or 0.30%, and reached an all-time high of 33.171.50 points; the S&P 500 closed down 3.78 points, or 0.10%, at 3,970.76 points; the Nasdaq closed down 79.08 points or 0.60. %, up to 13,059.65 points. So far in March, the Dow and the S&P 500 are up 7.2% and 4.2%, respectively. However, the Nasdaq is down 0.4% as some investors have ditched high-priced tech stocks amid rising bond yields.
The gigantic container ship “Long Gift” that blocked the Suez Canal has resurfaced and set sail again. However, the market is increasingly concerned about the third wave of the new corona epidemic hitting the European continent. European stock markets were mixed on Monday (March 29). The pan-European Stoxx 600 Index closed 0.68 points, or 0.16%, higher at 427.61 points. Food and beverage stocks led earnings, rising 1.5%; financial services stocks fell 1.9%; the German DAX30 index closed up 68.78 points, or 0.47%, at 14,817.72 points; the British index FTSE 100 closed with a fall of 4.42 points, or 0.07%, It reported 6736.17 points; France’s CAC40 index closed up 26.70 points, or 0.45%, at 6,015.51 points; Europe’s Stoxx 50 Index closed 17.27 points, or 0.45%, higher at 3,883.95 points; the IBEX35 index of Spain closed with a fall of 9.20 points, or 0.11%, reported 8489.00 points; Italy’s FTSE MIB index closed up 28.14 points, or 0.12%, at 24,421.40 points.
Commodities market
Spot gold closed at US $ 1,712.20 per ounce, down US $ 20.32 or 1.17%, the highest intraday reaching US $ 1,733.45 per ounce and the lowest at US $ 1,705.58 per ounce. Last week, spot gold was down $ 12.56, or 0.72%.
April COMEX gold futures closed 1.2% lower at $ 1,712.20 an ounce.
The two main crude futures closed slightly higher. At press time, May US WTI crude oil futures closed up 59 cents, or 0.97%, at $ 61.56 a barrel; May Brent crude oil futures closed up 41 cents, or 0.63%, at $ 64.98 a barrel. Last week, US oil closed down 0.76%, while Burundi Oil closed down 0.06%.
Focus on Tuesday (March 30):
17:00 Eurozone March Economic and Industrial Sentiment Index, final value of the Eurozone March Consumer Confidence Index
20:00 Initial value of the monthly rate of the CPI of March of Germany
21:00 US January FHFA House Price Index Monthly Rate, US January S & P / CS Top 20 Cities Annual House Price Index Rate.
9:00 PM Fed Governor Quarles talks about financial stability
22:00 US March Advisory Chamber of Commerce Consumer Confidence Index.
24:00 Fed Bostic talks with former Fed officials
02:00 the next day, Fed Williams participates in the discussion of the meeting.
For more important events, click here.
Proofreading:Becky
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