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On Monday (November 9) in the Asian market in the first operations, the spot gold maintained its upward trend. The price of gold is now around $ 1954 an ounce. Previously, the price of gold was close to $ 1960 an ounce.
The closing of the main currencies and raw materials on November 6:
Currency exchange: EUR / USD closed at 1.1874; GBP / USD closed at 1.3147; AUD / USD closed at 0.7255; USD / JPY closed at 103.36; USD / CAD closed at 1.3055; USD / CHF closed at 0.9005.
Commodities: spot gold closed at US $ 1950.86 an ounce; Comex gold futures closed at $ 1951.70 an ounce; cash silver closed at US $ 25.61 an ounce; Comex silver futures closed at $ 25,662 an ounce; Brent crude closed at US $ 39.45 per barrel; NYMEX crude closed at US $ 39.45 per barrel at US $ 37.14 / barrel.
Important news review:
1. In the early morning hours of November 9, Beijing time, US President Trump issued a tweet. Trump said on Twitter: “When will the media announce our next president? We have learned a lot in the last two weeks!”
2. From 6:00 PM on November 7 to 8:00 AM on November 8, Tianjin added 1 newly confirmed case. Tianjin quickly entered a state of war and cooperated with the Health Commission and other relevant departments to implement early detection, early notification, early isolation, early treatment, and concentrated treatment measures.
3. According to US media reports, Trump and his campaign believe that there is fraud in the elections and are asking supporters to prepare to protest. The Washington Post reported on the 8th that Trump’s staunch allies vowed to continue fighting and supporting the president’s actions.
4. On the night of November 7 local time, Trump summoned lawyers and posted an article on Twitter: We have seen many sworn testimonies that “there is electoral fraud.”
5. The Taiwanese media “Liberty Times” reported on November 8 that the PLA military aircraft entered southwestern Taiwan airspace that night, and the Taiwan Air Force broadcast “march away”.
Market Hot Spot Tracking:
Gold’s slide from its mid-September high has minimized its momentum. The dispute over the “television series” of the United States general election is not over yet, and the number of newly diagnosed cases in the United States has reached new highs every day, prompting the arrival of optimism. However, due to the lack of new market risk catalysts, investors are in a dormant state and unwilling to make changes before each event has a definitive response.
Falling Gold Weakens Upward Momentum! Old and New US Election Risks Pierce Brexit Drama to Provide Additional Support
Forex market
Euro: The euro / dollar rose for the fourth day in a row, closing at 1.1874, an increase of 0.41%. Technically, the initial resistance for the bullish exchange rate is at 1.1915, the additional resistance is at 1.1960 and the key resistance is at 1.2011; Initial support for the bearish exchange rate is at 1.1840, additional support is at 1.1790 and the most critical support is at 1.1700.
GBP: GBP / USD rose for the second day in a row, closing at 1.3147, an increase of 0.01%. Technically, initial resistance for the bullish exchange rate is at 1.3180, additional resistance is at 1.3270 and key resistance is at 1.3360; Initial support for the downside exchange rate is at 1.3080, additional support is at 1.3000 and the most critical support is at 1.2850.
Japanese yen: The dollar / yen fell for the third day in a row, closing at 103.36, a decrease of 0.11%. Technically, the initial resistance for the bullish exchange rate is at 104.25, the additional resistance is at 104.80 and the key resistance is at 105.15; Initial support for the bearish exchange rate is at 103.10, additional support is at 102.60 and the most critical support is at 102.00.
stock Exchange
European stocks generally closed lower on Friday (Nov 6). Investors awaited the results of the United States general election and responded to the increase in confirmed cases of new coronary pneumonia and the new restrictions introduced on the European continent. The European Stoxx 600 Index closed 0.72 points, or 0.20%, at 366.40 points; the German DAX30 index closed down 88.07 points, or 0.70%, at 12,480.02 points; Britain’s FTSE 100 index closed 3.84 points, or 0.07%, higher to report. The French CAC40 index closed with 23.11 points, or 0.46%, at 4,960.88 points; the Stoxx Europe 50 Index closed 12.61 points, or 0.39%, at 3202.95 points; the IBEX35 index of Spain closed with 52.30 points, or 0.77%, reported at 6871.00 points; Italy’s FTSE MIB index closed down 49.70 points, or 0.25%, at 19,681.68 points.
The results of the US presidential elections appeared gradually and US stocks closed on Friday (November 6). Due to the intensification of the spread of the new corona pneumonia epidemic and the lack of additional supportive policies, the US economy, which has shown signs of recovery, may have a change in its future prospects. At the close, the Dow Jones industrial index closed down 66.80 points, or 0.24%, at 28,323.40 points; the S&P 500 index closed down 1.00 points, or 0.03%, at 3,509.44 points; The Nasdaq Composite Index closed up 4.30 points, or 0.04%. , Reported 11895.23 points.
Commodities market
Spot gold closed at $ 1,950.86 per ounce, up $ 1.59 or 0.08%, the intraday high of $ 1960.31 per ounce, the lowest at $ 1.95.49 per ounce. . This week, spot gold closed up $ 72.07 or 3.84%.
COMEX December gold futures closed 0.3% higher at $ 1,951.70 an ounce, a cumulative gain of 3.8% this week, the biggest weekly gain in more than three months.
The cumulative number of confirmed cases of new coronary pneumonia in the United States exceeds 10 million, and the new round of lockdowns imposed by Europe to curb the rise in new coronary pneumonia infections has raised concerns in the market about the demand outlook. . At the same time, the market remains unsettled by the lengthy vote-counting work in the US elections. Uncertainty in the future has reduced the possibility of large-scale fiscal stimulus measures. Oil prices continued their downward trend on Friday (November 6). As of press time, December US WTI crude oil futures closed down US $ 1.65, or 4.25%, at US $ 37.14 per barrel, still higher. of 3.77% this week; January Brent crude oil futures closed down $ 1.48, or 3.61%, at $ 39.45 / barrel. On the previous trading day, US oil closed 36 cents, or 0.92%, down at US $ 38.79 per barrel; Bulk Oil closed 30 cents, or 0.73%, lower at US $ 40.93 a barrel.
Monday (November 9) Focus on:
15:00 Germany September Seasonally Adjusted Trade Account
16:00 The Management Committee of the European Central Bank of Rennes delivered a speech on the strategic assessment of the ECB
5:30 PM Eurozone November Sentix Investor Confidence Index
18:35 Bank of England Governor Bailey attends a green summit
20:00 Member of the Executive Committee of the European Central Bank, Mo Shi, gave a speech at the seminar
At 02:30 the next day, Cleveland Federal Reserve Chairman Meester delivered a speech on fintech
At 03:20 the next day, Philadelphia Fed Chairman Hack chaired an online fintech conference hosted by the Philadelphia Fed.
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