【Top1 Evening】Is the high opening of European stocks indicates that U.S. stocks will rise ?
Oil prices continued to fluctuate upwards, focusing on low-level long-term opportunities; gold prices gave up their gains, and expectations for a rapid economic recovery after the release of China's data rose; the U.S. dollar firmed up to 92; European stock markets generally opened up, and the British FTSE 100 index rose 0.26%; The outlook improves and the U.S. dollar follows the rise in U.S. bond yields.

Gold: Gold price re-dropped
Gold prices re-dropped on Monday, and China's industrial production data was better than expected, which boosted the prospect of an accelerated economic recovery. At the same time, rising US Treasury yields (yield rates) depressed gold prices.
Spot gold inward was flat at US$1,724.68 per ounce, and rose 0.4% earlier. US gold futures rose 0.2% in April to US$1,722.50 per ounce.
Spot silver fell 0.1% to US$25.89 per ounce, palladium fell 0.9% to US$2,351.28 per ounce, and platinum fell 0.2% to US$1,202.62 per ounce.
IG Market analyst Kyle Rodda said, "The overall situation is that yields keep gold prices down." He also said that the gold market is technically bearish.
Crude oil: oil prices fluctuate
The U.S. and Burundi oils maintained their tank shocks last Friday, and the Burundi oil had approached the $70 mark. In the end, the two oils both closed down. WTI crude oil closed down 0.59% to 65.57 US dollars per barrel; Brent crude oil closed down 0.53% to 69.17 US dollars per barrel.
London crude oil futures recorded a weekly decline for the first time in two months, because there are signs that the global demand recovery is not balanced, and the rise in the US dollar has also weakened the upward trend of oil prices. Brent crude oil futures, a benchmark for global oil prices, fell 0.6% last Friday, and West Texas Intermediate oil also fell slightly, marking the first weekly decline in three weeks.
The limited production of OPEC+ has caused the supply of crude oil to remain tight. Some refineries in Europe and Asia will receive less crude oil from Saudi Arabia next month because the country has extended production cuts.
OPEC lowered its outlook for crude oil demand for the next two quarters last Thursday. This week's International Energy Agency (IEA) demand forecast will become the focus of attention.
Forex: The U.S. dollar fluctuates
The overnight decline in the U.S. Treasury market continued during the U.S. trading session, with the benchmark 10-year Treasury bond yield hitting a one-year high of 1.6420%, boosted by optimism about the U.S. economic outlook. The U.S. dollar index rose 0.25% to 91.668, and will close slightly this week.
The US dollar index currently seems to maintain a range-bound trend and needs to stay below 92 to continue its downward trend. The dollar index needs to fall to 91 to trigger bearish momentum again, otherwise the index may continue to move sideways in the next few trading days.
The European Central Bank said on Thursday that in order to support the economic recovery, it will speed up the pace of money printing to prevent the euro zone government bond yields from rising.
Although the euro against the US dollar EUR=EBS fell 0.3% on Friday to $1.19505, it is likely to rise slightly this week. Traders will pay attention to the Federal Reserve Board (Fed/FED) policy meeting to be held next week to see if the Fed will comment on rising yields.
Stock market: European stocks rose, Japanese stocks closed higher
Major European stock markets generally opened up. The European Stoxx 50 index rose 0.23%, the UK FTSE 100 index rose 0.26%, Germany’s DAX index rose 0.11%, France’s CAC 40 index rose 0.36%, and Italy’s FTSE MIB index rose 0.52%. The Spanish BEX index rose 0.49%.
The Japanese stock market closed higher on Monday, and the passage of a large-scale US stimulus plan brought optimism and boosted cyclical stocks; however, the decline in technology stocks such as SoftBank Group limited the market's gains.
The Nikkei index .N225 closed up 0.17% to 29,766.97 points, and the top stock index .TOPX closed up 0.91% to 1,968.73 points.
Focus:
March 16 18:00 (GMT+8) ZEW Economic Sentiment Index
March 16th 20:30 (GMT+8) U.S. retail sales monthly rate
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