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【TOP 1 Morning】COVID-19 Rebound, safe-haven US dollar jumps; oil price drops more than 5%; gold price plunges to 1,870; three major US stock indexes plummeted by more than 3%
The French government restarted the national blockade measures, and Germany announced the closure of bars and restaurants in the next month. European and American stock markets plummeted as panic spread to the market, stimulating the USD rising. Euro/USD fell to a one-week low, and the traditional safe-haven currency JPY stood for one month’s high point.
Forex: The US dollar index rose 0.55% to 93.45 in late New York trading on Tuesday.
The euro depreciated 0.4% against the dollar to 1.1754 US dollars. The euro/dollar one-month risk reversal indicator shows that investors are short of the euro at the highest level since June; this indicator assesses the sentiment of the option market towards foreign exchange.
The pound fell as much as 1% against the US dollar in intraday trading, and then recovered some of its losses.
The U.S. dollar depreciated 0.1% against the yen to 104.31 yen, hitting a low of more than a month earlier.
The euro depreciated 0.5% against the yen to 122.6 yen, which was the lowest since July.
Gold: Spot gold once hit the lowest level since September 28 at US$1,869.21 per ounce, at 1734 GMT, at US$1,879.03 per ounce. US gold futures fell 1.7% and settled at US$1,879.20 per ounce.
The price of silver fell to $23 an ounce, the lowest since October 7.
At present, metals are very dependent on economic stimulus measures, so the decline has completely controlled the situation. With the strengthening of the US dollar, the price of gold continued to fall.
Crude oil: Oil prices fell more than 5%. The increase in crude oil production has led to more than expected increases in crude oil inventories, and Europe’s renewed blockade measures have brought more bad news to the oil market.
Brent crude oil futures fell US$2.08, or 5.1%, to settle at US$39.12 per barrel, while US crude oil futures (WTI) fell US$2.18, or 5.5%, to US$37.39 per barrel.
Stock market: Apple, Alphabet and Facebook will announce their results on Thursday, and their stocks all fell 4.6% or more, which has a significant impact on the S&P 500 index.
The Dow Jones Industrial Average closed down 943.24 points, or 3.43%, to 26,519.95 points; the S&P 500 index closed down 119.65 points, or 3.53%, to 3,271.03 points; the Nasdaq index closed down 426.48 points, or 3.73%, to 11,004.87 points .
Follow the news:
October 29th 11:00 (GMT+8) Japan's October Central Bank interest rate decision
October 29 16:55 (GMT+8) Changes in the number of unemployed in Germany in October
October 29th 20:45 (GMT+8) Eurozone central bank interest rate decision in October
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