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【Market Morning】Gold’s End Game? Gold price drops sharply while USD up
US's COVID is significantly in controlled, leading the travel stocks reach new high, and the three major stock index falls; the US dollar staged V-type reversal! The two major US air stocks have been sold crazy, but the market still looks for more.
Last night global market review
Gold price dropped nearly five months high
Strong US manufacturing data and US debt yields have weakened gold attraction. Spot gold referred to $ 1900.36 / oz, down $ 5.88 or 0.31%, and the daydated to the highest point of $ 1916.54 / ounce in January 8, but then he fell sharply from the high level, refreshed as low as $ 1892.26 / oz.
Comex August gold futures fell 0.02%, reported 1905.00 USD / oz.
Investors are waiting for important economic data in the United States. The most important thing is that US employment data will be announced on Friday, the expected medium value is 650,000, but after the Non-agricultural employment report increased by 266,000, the result is still there. Very big uncertainty.
TD Securities said that "More and more evidence shows that economic kinegy has been seen, which increases the risk of dried into golden hedge inflation funds."
Two major crude oil futures doubles
US WTI crude oil July fell by 1.40 US dollars, up 2.11%, to $ 67.72 / barrel. It has a high point of 68.87 US dollars / barrel; Brent's crude oil futures rose by 1.22 US dollars in Aug., gains 1.76%, to $ 70.54 / barrel, and the disk has once touched the 71.34 / barrel.
Demand of crude oil has significantly improved signs. The oil market welcomes additional OPEC + supply. Petroleum stocks are falling back to the average of 2015-2019. OPEC should actively stabilize the oil market. The US and China's oil demand is replying.
Three major stock indexes have fallen
Under the improvement of the US epidemic, the market has been optimistic about economic recovery, and the Dang refers to steady on Tuesday (June 1).
The road refers to the increase of 46.85 points, the increase of 0.14%, the report 34576.30 points, and the disk has increased by over 300 points; due to the weakness of the technology stocks, the increase of energy, materials and financial stocks, the S & P 500 index fell 3.01 points, 0.07% of the decline, reported 4201.10 points, 0.85% lower than the historic high point; Na resisted 12.26 points, 0.09% decreased, and reported 13736.48 points.
In May, the Dow and the S & P 500 index rose 1.93% and 0.55% respectively, which rose in the fourth consecutive month. The Nats-based nation-based nation rose 2.06% last week, set the best single week in April.
US dollar's V shape fell
US Supply Management Association (ISM) said that in May ISM manufacturing, PMI rose to 61.2, exceeded expectations, but raw materials such as semiconductor and the shortage of workers were produced.
After the data was announced, the US dollar index shortly fell 25 points to 89.66 low, followed by rebounded to the flat plate.
On the occasion of the US dollar index, the main non-US currency trend is not: the euro / dollar, the pound / US dollar and US dollars / yen have fallen. On the occasion of the dollar, the spot gold has been in the nearly 1900 US dollars.
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