【TOP1 Morning】Gold prices rebound! Oil prices rose sharply, U.S. dollar index fell

Gold: The price of gold regains 1,800

The price of gold rose by 0.17% to US$1818.30.

Spot gold closed at 1813.96 US dollars per ounce, up 20.08 US dollars or 1.12%, the highest intraday touched 1815.10 US dollars per ounce, the lowest touched 1,791.79 US dollars per ounce. This week, spot gold closed down $33.54 or 1.82%.

Spot silver closed at 26.91 US dollars per ounce, up 0.57 US dollars or 2.16%, the highest intraday hit 27.04 US dollars per ounce, the lowest touched 26.18 US dollars per ounce.

The US Bureau of Labor Statistics said it added 49,000 jobs last month. Not only was the employment data disappointing in January, but the data for November and December of last year were also revised down. The employment data for November last year was revised to add 264,000 jobs, lower than the estimated 336,000 jobs. At the same time, the report stated that the number of employed persons fell by 227,000 in December last year, which was lower than the initial estimate of a decrease of 140,000.

Forex: U.S. dollar rises to fall

Non-agricultural data released, the US dollar index fell 0.5% to 91.028, but this week still rose 0.6%.

The euro rose 0.7% against the US dollar to $1.2042, the largest one-day gain in more than two months.

The U.S. dollar index is still up 1.2% so far this year, and longer-term U.S. Treasury yields have supported this round of gains, prompting traders to make good positions for large-scale fiscal expenditures.

Bitcoin and Ethereum rose by 2% and 7% respectively on Friday, seeming to benefit from the decline in the US dollar.

Crude oil: oil prices rise to a one-year high

US WTI crude oil March futures closed up 62 cents, or 1.10%, to 56.86 US dollars per barrel, continuing to set a new high in a year. This week, U.S. oil closed up 8.91%, the largest weekly gain since October last year; Brent crude oil futures in April closed up 50 cents, or 0.85%, to $59.84 per barrel.

OPEC expects that production cuts will keep the market in short supply throughout 2021. Rystad Energy said that it is expected that there will be a shortage of crude oil supply throughout the summer, and OPEC+'s next move may be to increase production. As OPEC+ started to cut production, oil prices have rebounded from the historical lows touched last year. The OPEC+ Committee did not mention policy changes, calling on many member states to maintain stable supply in February, and Saudi Arabia, the largest oil exporter, voluntarily cut production by 1 million barrels per day this month and next.

Institutional analyst Elizabeth Low believes that in the context of OPEC's commitment to continue to cut production, U.S. oil recorded a fifth consecutive day of gains, which is the biggest weekly gain since October last year. However, technical indicators show that oil prices will fall. At present, the 14-day relative strength indicators of the US and Burundi oil futures are at overbought levels.

Stock market: Nasdaq, S&P break new highs

The S&P 500 and Nasdaq recorded their biggest weekly gains since early November.

The Dow Jones Industrial Average rose 92.38 points, or 0.3%, to 31,148.24 points; the S&P 500 index rose 15.09 points, or 0.39%, to 3,886.83 points; the Nasdaq index rose 78.55 points, or 0.57%, to 13,856.30 points.

The labor market rebounded less than expected last month, highlighting the need for more government assistance to support the economy. The much-watched employment report released by the Labor Department on Friday showed that the manufacturing and construction industries have reduced jobs, which have been supporting the economy. The decline in non-agricultural employment in December was even worse than initially expected.

The US stock market continued its gains on Friday. The S&P 500 and Nasdaq recorded the largest weekly percentage gains since the US general election in early November last year, boosted by optimism about corporate earnings reports, stimulus plan negotiations and vaccination progress.

Focus on today:

12:30 (GMT+8) Annual rate of corporate bankruptcy in Japan in January