[Market Morning] Fed Officials Said They May Suspend Interest Rate Hikes in September, Lagarde "Raised Interest Rates Twice by 25 Basis Points", Biden Announced the Launch of The "Indo-Pacific Economic Framework", or Rarely Used Emergency Diesel Reserves

Spot gold continued its rally on Monday, reaching a high of $1,865.25 an ounce. It pared back some of its gains during the U.S. session and finally closed up 0.39% at $1,853.59 an ounce. Spot silver had a similar trend, again being blocked above the $22 mark and falling back. It closed down 0.04% at $21.8 an ounce.

Comment: Gold prices climbed on Monday, boosted by a weaker dollar and worries about economic growth, but non-yielding gold's gains narrowed after U.S. Treasury yields rose. Gold saw a strong corrective rally as the U.S. dollar fell sharply. The dollar hit a one-month low, making gold cheaper for investors holding other currencies.

Suggestion: Spot gold is short at 1853.00, and the target point is 1831.85.

The dollar index continued to weaken below the 103 mark and closed down 0.932% at 102.09. The 10-year U.S. Treasury bond yield remained firm during the session and ended at 2.861%. Non-US currencies launched a counteroffensive war. The euro rose more than 1 percent on the day against the dollar to its highest level since April 26. The pound hit 1.26 against the dollar at one point, up 0.93% on the day, hitting a new high since May 5.

Comment: The dollar index fell on Monday, but the euro rose after the European Central Bank signaled it would move out of negative interest rates, and riskier currencies followed stocks higher. European Central Bank President Christine Lagarde said on Monday that the ECB could take key interest rates out of the negative territory and raise them further by the end of September. Whether the dollar takes a breather or continues to fall will depend on the Fed news.

Suggestion: EUR/USD 1.06790 position to do more, the target point 1.07600.

In terms of international oil prices, the volatility of the two oil prices narrowed. WTI crude oil fluctuated near the $110 mark and closed up 0.04% at $110.56 per barrel; Brent crude oil finally closed down 0.70% at $113.33 per barrel.

Comment: U.S. crude oil prices were little changed on Monday, as fears of a possible economic recession offset prospects for fuel demand driven by the coming U.S. summer driving season and cooling virus concerns. The dark clouds over the financial markets have begun to affect crude oil, and the current health of the global economy is questionable.

Suggestion: U.S. crude oil is long at 108.710, and the target point is 113.190.

U.S. stocks closed, the three major stock indexes closed higher, the Dow closed up 1.98%, the S&P 500 closed up 1.86%, and the Nasdaq closed up 1.59%. The new forces of Zhongjing's car manufacturing weakened. Ideal and Weilai fell by more than 2%, and Xiaopeng closed down 5.9%.

Comment: U.S. stocks closed higher on Monday, with a rally in bank stocks and a rebound in market-leading technology shares driving broad gains after Wall Street posted its longest weekly decline since the dot-com bubble burst more than 20 years ago. The three major U.S. stock indexes rose between 1.6% and 2.0%, with the biggest boost from the rebound of technology giants Apple and Microsoft.

Suggestion: S&P 500 index is short at 3945.700; the target point is 3810.760.

Fed's Bostic: May pause rate hikes in September depending on inflation.

Atlanta Fed President Bostic said rate hikes could be paused in September after raising rates by 50 basis points in each of the next two meetings, depending on inflation. If inflation remains high, a rate hike of 25 or 50 basis points is possible in September. He expects inflation to remain high this year at 3%.

Powell officially re-elected as Fed chairman.

The Fed announced that Powell was officially re-elected as Fed chairman, Brainard officially took over as Fed vice chairman, and Cook and Jefferson officially took over as Fed governors.

Biden: Considering removing some tariff barriers on China.

In Tokyo on Monday, U.S. President Joe Biden said that he was considering removing some tariff barriers on China, stressing that his administration did not set them up.