【TOP1 Morning】Gold eases on firmer dollar; Oil posts third straight negative session

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Yesterday’s market review<\/strong><\/p>

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Gold-gold under pressure<\/strong><\/p>

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week Second, spot gold is basically flat; a stronger U.S. dollar and higher U.S. bond yields put pressure on gold prices, and investors are waiting for the Fed's interest rate outlook. <\/p>

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The closing price of spot gold is $1730.70, with a full-day volatility: $1721.53-$1734.41. The closing price of silver was $25.198, with a full-day volatility: $25.817-$26.289. <\/p>

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The Federal Reserve will conclude its two-day meeting on Wednesday and release its policy statement and quarterly forecast, Powell A press conference will follow. <\/p>

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Because of the bet on global economic growth and the surge in U.S. Treasury yields, gold Lost the limelight this year, but has gained support since last week due to the weakening of the U.S. dollar. Powell warned the bond market this month that the Fed is paying close attention to the rise in long-term interest rates, but has not tried to contain them. <\/p>

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Commercial Bank analyst Eugen Weinberg said that investors expect the Fed to Despite the significant improvement in the economic outlook, the dovish stance is still maintained, and gold may receive further support from it. <\/strong><\/p>

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Foreign exchange-U.S. dollar rises<\/strong> <\/p>

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The US dollar index rose slightly in quiet trading on Tuesday, and market participants waited for the Fed The results of the meeting to find clues about the direction of US interest rates. The U.S. dollar rose against the euro and commodity currencies such as the Australian and New Zealand dollars. <\/p>

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US dollar index closing price 91.88 , Full-day volatility: 91.67-92.05. <\/p>

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Data released on Tuesday showed that after seasonal adjustments, the US in February Retail sales fell 3.0% from the previous month, partly due to inclement weather. <\/p>

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Fed officials may predict that the U.S. economic growth rate in 2021 will be the fastest in decades At the same time, the unemployment rate will fall and the inflation rate will rise. However, they are unlikely to adjust monetary policy. <\/p>

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EUR/USD fell 0.22% to 1.1903; due to problems with vaccination , It is expected that Europe’s economic recovery will be slower than that of the United Kingdom and the United States. <\/p>

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USD\/JPY fell 0.1% to 108.97; the Bank of Japan lasted for two days The policy meeting of Japan will end on Friday, and the Governor of the Bank of Japan Haruhiko Kuroda said on Tuesday that it is very important to keep long-term interest rates steadily low. <\/p>

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The U.S. dollar/Canadian dollar fell 0.19% to 1.2448; it is regarded as a sunny or rainy risk appetite The Australian dollar/dollar on the table fell 0.12% to 0.7746. <\/p>

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Crude oil-lower oil prices<\/strong><\/p>

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Oil prices continued to fall on Tuesday, and demand recovery in different regions of the world affected the market. Although there are signs that demand is growing in some parts of the world, other regions, especially Europe, are lagging behind in demand recovery. <\/p>

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The closing price of WTI crude oil is $64.966 per barrel, full-day volatility: $63.855-$65.454; Buren The closing price of special crude oil was $68.152 per barrel, with daily volatility: $67.028-$68.565. <\/p>

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India and the U.S. road traffic fuel use is picking up, but according to the French Petroleum According to the industry federation UFIP, the country's consumption in February was still down 10.8% year-on-year. At the same time, European health ministers will discuss the future of AstraZeneca's coronavirus vaccine. <\/p>

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CHS Hedging LLC’s market broker Ryan Kelbrants said that after the sharp rise in crude oil, he fell into Minor technical adjustments. On the demand side, many economies are opening up and the United States is operating again, but some other countries are lagging behind. <\/p>

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US stocks<\/strong><\/p>

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US stocks rose on Tuesday The declines were mixed, US Treasury yields rebounded slightly from lows, the panic index VIX fell to about 19, Apple and Microsoft led the gains, and chip stocks performed strongly. <\/p>

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The Dow Jones Index fell 127.51 points, or 0.39%, to close at 32,825.95 points. <\/p>

The S&P 500 Index fell 6.23 points, or 0.16%, to close at 3,962.71 points. <\/p>

The Nasdaq index rose 11.86 points, or 0.09%, to close at 13,471.57 points. <\/p>

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Apple (AAPL-US) rose 1.27%; Facebook (FB-US) Up 2.02%; Alphabet (GOOGL-US) up 1.43%; Amazon (AMZN-US) up 0.33%; Microsoft (MSFT-US) up 1.24%. <\/p>

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Evercore ISI raises Apple’s price target to the highest among analysts ($175) Later, Apple's (AAPL-US) stock price rose 1.27% to $125.57 per share. <\/p>

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Tesla (TSLA-US) fell 4.39% to $676.88 per share. Morgan Stanley predicts that Tesla may launch a $5,000 electric car in the future, because the mass production of electric cars may eventually lead to a price reduction. <\/p>

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Volkswagen (VOWG) has held press conferences one after another, explaining that it will replace Tesla as the world The plan of the leader of electric vehicles. Its goal is to sell 1 million electric vehicles this year and become the leader in the global electric vehicle market by 2025 at the latest. The company previously announced that it would standardize the key technologies of the entire business empire, creating a scale effect that Tesla and other car manufacturers cannot match. , So that the stock price of Volkswagen (VOWG) once soared 29%! <\/p>

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Tesla CEO Elon Musk announced that he is paying attention to the most Trendy area: NFT (Non-Fungible Token). He stated on Twitter that he would "sell a song about NFT as NFT." This message contains a video of about 2 minutes. In the video, an NFT-themed trophy is spinning in space, surrounded by many cryptocurrencies. The top of the trophy is the moon, and the moon also refers to cryptocurrency in the currency circle culture. <\/p>

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So far, more than 13 EU countries have suspended AstraZeneca ) Vaccination, the European Medicines Agency will hold a special meeting on Thursday. AstraZeneca (AZN-US) rose 2.62% to US$50.05 per share. <\/p>

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Intel rose 1.55% to $64.78 per share. Intel launched its 11th-generation processor Rocket Lake-S on Tuesday to fight AMD Zen3 processors. <\/p>

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Bill Gross, the king of bonds, said on Tuesday that he shorted U.S. debt during the recent sell-off , And it is expected that US inflation will accelerate to 3%-4% in the next few months. <\/p>

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Gross predicts that there may be an Operation Twist in the future, when the Fed’s Direct spending will be limited to around $1 trillion, and more funds will be invested in bonds to keep long-term U.S. debt yields low. <\/p>

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Focus on today<\/strong><\/p>< p><\/p>

17:00(GMT+8): IEA publishes its monthly crude oil market report. <\/p>

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18:00(GMT+8): The Eurozone did not adjust the annual rate of CPI seasonally in February Final value, previous value: 0.9%, predicted value: 0.9%;<\/p>

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22: 30(GMT+8): Changes in EIA crude oil inventories in the United States as of March 10, previous value: 13.798 million barrels, forecast: 2.7 million barrels;<\/p>