[Market Morning] Non-Farm Payrolls Boosted Fed's Dovish Expectations in August, Gold Recovered the 1710 Mark, and U.S. Bond Yields Pulled Back From High

On Friday, spot gold regained the $1,710 mark, once approaching the $1,720 mark, and finally closed up 0.91% at $1,712.84 per ounce; spot silver rose and fell, testing the $18 mark in late trading, and finally closed up 1.23%. At $18.06 an ounce.

Comment: Gold prices rebounded more than 1% on Friday as the dollar retreated after the release of US jobs data that was largely in line with expectations, but under the pressure of a high-interest rate environment, gold prices are still on track for their third consecutive weekly decline.

Suggestion: Spot gold is short at 1709.20, and the target point is 1695.00

The US dollar index rebounded after hitting a daily low, recovering most of the lost ground in the day, and finally closed down 0.046% at 109.63; the 10-year US bond yield fell below 3.2% and finally closed at 3.193%; the two-year US bond yield fell 3.50 % high, and finally closed at 3.393%.

Comment: The dollar retreated from a 20-year high on Friday after data showed US nonfarm payrolls rose more than expected in August, but wage growth slowed, and unemployment rose, giving the Fed a boost when it raises interest rates later this month. Provides some wiggle room.

Suggestion: long position of EUR/USD 0.99199, target point 0.99700

In terms of crude oil, WTI crude oil approached the US$90 mark, and then gave up most of the gains in the day, and finally closed up 0.76% at US$87.06 per barrel; Brent crude oil closed up 1.25% at US$93.31 per barrel.

Comment: Oil prices rose on Friday on expectations that the OPEC+ alliance will discuss production cuts at its Sept. 5 meeting, although worries about a weakening global economy still hang over the market.

Suggestion: short the position of US crude oil 87.750, the target point is 85.770

US stocks rose first and then fell. The three major stock indexes all fell by more than 1%. The S&P 500 closed down 1.07%, the Nasdaq closed down 1.31%, and the Dow closed down 1.07%; the three major stock indexes all rose more than 1% before.

Comment: US stocks ended lower on Friday after rising briefly earlier in the session as the US jobs report suggested the labor market may be starting to loosen, but then the gains were reversed on concerns about the gas crisis in Europe. US stocks opened sharply higher after data showed that US jobs added more than expected in August, but the unemployment rate climbed to 3.7 percent, easing some concerns that the Federal Reserve was overly aggressive in raising interest rates as it tries to tame high inflation.

Suggestion: go short at 12105.600 of Nasdaq, target at 12004.300

Russian President's Press Secretary: If the EU imposes visa restrictions, Russia will definitely respond severely

Russian Presidential Press Secretary Peskov said in a program broadcast on the "Russia-1" TV channel on the 4th that Russia will pay close attention to the EU's decision on the Russian visa policy. If the EU imposes visa restrictions on Russia, the Russian side will take severe response measures. Peskov did not explain what specific measures would be taken, but he said that the response measures must be in Russia's interests and not necessarily reciprocal. Borrell, the EU's high representative for foreign affairs and security policy, announced on Aug. 31 that the foreign ministers of EU member states agreed to suspend the EU-Russia visa facilitation agreement. This will lead to stricter procedures in EU countries for issuing new visas to Russians, with a "significant reduction" in the number of new visas issued. The move has not yet been written into the legal text.

Gazprom confirms that there is an oil leakage problem in the "Beixi-1" turbine.

On the 3rd, Gazprom said that Germany's Siemens participated in the maintenance of the "Nord Stream-1" natural gas pipeline according to the existing contract. The equipment failure has been detected and is ready to be repaired, but there is no place to carry out the repair work. Gazprom said it would not resume natural gas supplies to Germany via the Nord Stream-1 gas pipeline until the oil leak from the turbines it detected was resolved.

Many shopping malls in Germany shut down escalators to save electricity, and over 60% of Germans reduce the number of baths. European leaders are looking for alternative energy sources.

Recently, energy-saving measures have been introduced frequently in European countries. In Germany, many large shopping malls stopped running escalators, and customers could only climb the stairs to browse the mall. German politician Kreichmann even suggested that people only heat one room in their home when it is cold, give up bathing with hot water, and it is better to wipe themselves with a wet towel instead of showering. And such advice has been echoed, with 62% of Germans already starting to take fewer baths. In addition to throttling, it is necessary to open source. Recently, European Commission President von der Leyen visited Azerbaijan in person, hoping that the other party could increase gas supply to Europe; on Jul. 18, Italian Prime Minister Draghi visited Algeria and signed a series of cooperative energy agreements; on Aug. 25, French President Macron also visited Algeria, negotiating energy cooperation.