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Original Title: FX168 Financial Newspaper Market Opened Early Self-Study: Ups and Downs in US Elections erupted into Overnight Protests
Financial news agency FX168 (Hong Kong) reported that the price of gold fell on Wednesday due to bets that the Democratic Party will not be able to control the Senate in the United States general election, extinguishing hopes that the United States introduce a new coronavirus stimulus on a larger scale. Spot gold closed at $ 1902.76 an ounce, down $ 6.66 or 0.35%.
This trading day will focus on the Bank of England’s interest rate decision andEURDistrict retail sales.
The closing of the main currencies and commodities on November 4:
Exchange rate: EUR / USD closed at 1.1721;GBP/ USD closed at 1.2989;Australian dollar/ USD closed at 0.7177; USD / JPY closed at 104.48; USD / CAD closed at 1.3133; USD /Swiss francClosed at 0.9120.
Commodities: spot gold closed at US $ 1902.76 an ounce; Comex gold futures closed at $ 1,896.20 an ounce; cash silver closed at US $ 23.88 an ounce; Comex silver futures closed at $ 23,893 an ounce; Brent crude closed at US $ 41.23 per barrel; NYMEX crude closed at US $ 41.23 an ounce, US $ 39.15 / barrel.
Important news review:
1. The Associated Press announced that Biden won Michigan and its 16 electoral votes. So far, Biden has 264 electoral votes in hand, just one step away from entering the White House (which requires 270 votes).
2. According to US media reports on Wednesday, the Wisconsin State Elections Commission stated that so far all votes have been counted. Biden has won Wisconsin. So far, Biden has obtained 10 electoral votes in the state.
3. The campaign team of current US President Trump said Wednesday that they have filed a lawsuit to suspend the counting of votes in Michigan and Pennsylvania.
4. The Taiwanese media “Liberty Times” reported on November 4 that after appearing in the airspace of southwest Taiwan at 5 am for two consecutive days, the PLA military aircraft re-entered space. air from southwestern Taiwan at approximately 11 noon on the 4th.
5. On November 4, Chinese Foreign Ministry spokesman Wang Wenbin once again responded to the topic of “US arms sales to Taiwan” at a periodic press conference: US arms sales. The United States to Taiwan have seriously damaged Sino-American relations and peace and stability in the Taiwan Strait. China strongly opposes this. .
6. In addition to the presidential throne, the Democratic Party and the Republican Party of the United States also fought fiercely for control of both houses of Congress on November 3. According to information on the New York Times website, as of early morning on November 5 Beijing time, Democrats had won 194 seats in the House of Representatives and Republicans had won 185 seats. According to “USA Today” reports, Democrats are expected to maintain control of the House of Representatives, but their desire to expand their superiority may fail.
7. At the third local time, on the night of the US elections, protests and clashes broke out across the United States, police and civilians clashed with large numbers of military vehicles and the White House was surrounded by smoke.
Summary of important economic data as of November 4:
1. At 05:30 am Beijing time on Wednesday morning, data released by the American Petroleum Institute (API) showed that as of the week of October 30, crude oil inventories decreased by 8,001 million barrels, which is expected to increase by 1,964 million barrels. A well-known financial blog, Zero Hedge, said that oil prices continued to rally and US oil again surpassed $ 38 a barrel due to the weakening of the US dollar and signs that OPEC + may postpone its original plan to increase production.
2. At 11:30 p.m. on Wednesday night Beijing time, data released by the US Energy Information Administration (EIA) showed that as of the week of October 30, commercial crude oil inventories From the US, excluding strategic reserves, decreased by 7.998 million barrels, an increase of 1.2 million barrels is expected. The value increased by 4.32 million barrels; Last week, US domestic crude oil production decreased by 600,000 barrels to 10.5 million barrels per day, and crude oil exports decreased by 1,195 million barrels per day to 2,265 million barrels per day; the value of changes in US refined petroleum inventories fell for 7 consecutive weeks. The change in US crude inventories hit a new low since the week of September 4. The average four-week supply of crude oil products from the United States was 18.895 million barrels per day, a decrease of 10.9% from the same period last year.
Market Hot Spot Tracking:
International spot gold fell moderately on Wednesday (November 4) and intraday volatility intensified. The high reached $ 1,916.32 per ounce and the low touched $ 1,880.74 per ounce. At present, the long and short sides fought fiercely around the $ 1,900 mark. The announcement may take a few more days, keeping investment sentiment in gold assets tense.
The US presidential elections can start from “movie” to “television series”.
Forex market
Euro: The euro / dollar rose for the second day in a row, closing at 1.1721, an increase of 0.02%. Technically, the initial resistance for the bullish exchange rate is at 1.1794, the additional resistance is at 1.1866 and the key resistance is at 1.1963; Initial support for the bearish exchange rate is at 1.1626, further support is at 1.1530 and the most critical support is at 1.1458.
GBP: GBP / USD turned down and closed at 1.2989, a decrease of 0.57%. Technically, initial resistance for the bullish exchange rate is at 1.3111, additional resistance is at 1.3238, and key resistance is at 1.3336; Initial support for the bearish exchange rate is at 1.2885, additional support is at 1.2786 and the most critical support is at 1.2659.
Japanese Yen: The US dollar / yen fell for the second day in a row, closing at 104.48, a decrease of 0.01%. Technically, the initial resistance for the bullish exchange rate is at 105.19, the additional resistance is at 105.86 and the key resistance is at 106.38; Initial support for the bearish exchange rate is at 103.99, additional support is at 103.47, and the most critical support is at 102.78.
stock Exchange
On Wednesday (November 4), the US presidential election remains stalled and a victory for Biden or Trump has yet to be announced. However, Biden’s campaign team predicts that Biden will win more than 270 electoral votes, reaching the threshold to enter the White House. The election shows that Biden’s chances of winning will increase. Investors hope that once the Democratic Party takes office, it will increase investment in infrastructure and the launch of large-scale relief measures spurred the mid-range recovery in US equities to expand further. The Dow Jones once soared more than 800 points, the Nasdaq was up more than 4%. At the close, the Dow Jones industrial index closed up 367.63 points, or 1.34%, at 27,847.66 points; the S&P 500 Index closed up 72.35 points, or 2.15%, at 3,441.51 points; The Nasdaq Composite Index closed up 430.21 points, or 3.85%. , Reported 11590.78 points.
European stocks closed higher on Wednesday (Nov 4). Today, global investors continue to watch the results of the US elections. The Stoxx 600 Index closed 7.30, or 2.05%, higher at 363.31 points; the German DAX30 index closed 235.24 points, or 1.95%, higher at 12,324.22 points; The British FTSE 100 index closed 96.49 points, or 1.67%, at 5,883.26 points The French CAC40 index closed 117.24 points, or 2.44%, to 4,922 , 85 points; the Stoxx Europe 50 Index closed up 63.83 points, or 2.06%, to 3,162.55 points; Spain’s IBEX35 index closed up 31.40 points, or 0.47%, to 6783.00. The Italian FTSE MIB index closed up 372.04 points, or 1.96%, to 19,358.28 points.
Commodities market
Spot gold closed at US $ 1902.76 an ounce, falling US $ 6.66 or 0.35%, the highest intraday touched US $ 1916.32 per ounce and the lowest touched US $ 1880.74 per ounce .
COMEX December gold futures closed 0.7% lower at $ 1,896.20 an ounce, down from $ 1,900 an ounce.
Because OPEC and Russia are considering a more substantial production cut early next year, and data released by the two main US authorities shows that US crude oil inventory data is Last week they were significantly lower than expected, oil prices posted three consecutive positives on Wednesday (November 4). However, since the US election situation is not very clear, investors are concerned that the US elections will turn into a protracted war, which is not conducive to the recovery of the US economy and limits the upward mobility of prices. of the oil. At press time, December US WTI crude oil futures closed up US $ 1.49, or 3.95%, at US $ 39.15 per barrel; January Brent crude oil futures closed up $ 1.52, or 3.83%, at $ 41.23 a barrel, this week’s oil breakdown. The accumulated increase has been 10.06%. The day before, US oil closed up 85 cents, or 2.31%, at $ 37.66 a barrel; Bulk Oil closed up 74 cents, or 1.90%, at $ 39.71 a barrel.
Focus on Thursday (November 5):
3:00 p.m. Bank of England announces interest rate resolution and meeting minutes
6:00 PM Euro zone monthly retail rate in September
20:30 Number of layoffs from challenging companies in the United States in October
9:30 PM The number of people who claimed unemployment benefits in the week from the United States through October 31
At 03:00 the following day, the Federal Reserve FOMC announces the interest rate resolution and policy statement
At 03:30 the next day, Fed Chairman Powell held a press conference.
For more important events, click here
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