[Market Morning] Recession panic intensified, and key U.S. bond yields inverted by nearly 50 basis points; crude oil supply panic reignited, but oil prices lost their intraday gains, and spot gold once broke through 1800
U.S. 2/10-year Treasury yields inverted by 49 basis points. Rosneft said that since August 4, Ukrtransnafta, the Ukrainian pipeline operator, has suspended transit services for Russian gas, and the southern branch (the pipeline that transports natural gas to Hungary, the Czech Republic and Slovakia via Ukraine) has been suspended gas supply. However, the northern route of the "Friendship" pipeline passing through Belarus is normally sending oil to Poland and Germany.

On Tuesday, spot gold fell slightly after breaking the $1,800 mark, and finally closed up 0.29% at $1,794.49 per ounce; spot silver was steady above the $20 mark, and finally closed down 0.84% at $20.54 per ounce.
Comment: Spot gold is hovering below the new high of $1,794.84 an ounce recorded last week since August 5. Traders awaited key U.S. inflation data for a change in upward pressure on prices and the need for the Federal Reserve to continue pushing for steeper rate hikes.
Suggestion: long spot gold 1793.00 position, target point 1806.70.
The US dollar index rebounded after breaking the 106 mark, recovering most of the losses in the day, and finally closed down 0.01% at 106.32.
Comment: The market is concerned about the US July CPI report to be released on August 10. Mizuho Bank believes that it will indicate that the Fed will not stop raising interest rates and limit the decline of the US dollar in the next few months.
Suggestion: EUR/USD 1.02040 position to go long, the target point 1.02540.
In terms of two oils, WTI crude oil erased most of the intraday gains in the U.S. market and finally closed up 0.1% at $90.52 per barrel; Brent crude closed down 0.15% at $96.48 per barrel.
Comment: International oil prices fell more than 1%, as the latest progress in the final negotiations aimed at restarting the 2015 Iran nuclear deal, which is expected to clear the way to boost supply in the context of tight global crude oil market conditions.
Suggestion: short position of US crude oil 89.570, target point 86.780.
US stocks closed, the Dow closed down 0.18%, the Nasdaq closed down 1.19%, and the S&P 500 closed down 0.42%. Cruise concepts and department stores were among the top decliners. Zhifu Capital fell about 90%, Nvidia fell about 4%, and Novavax Pharmaceuticals fell about 30%.
Comment: S&P hit a new weekly low for four consecutive days, chip stocks tumbled, Micron Technology and Nvidia fell nearly 4%, retail investors held group stocks fell sharply, BBBY fell 14%, and China Concept Zhifu Capital, which soared in the two days of listing, fell 90% .
Suggestion: Go short at the 12999.300 position of the Nasdaq index, and the target point is 12819.740.
The US business community is angry with the Biden administration: The climate investment bill should not be paid by us!
The analysis pointed out that the tax increase will have a small drag on the earnings per share of S&P 500 companies, but will increase the tension between US companies and the Biden administration in the November midterm elections.
EU gas cut deal comes into force
Within seven months from August 1 this year, EU member states will reduce gas demand by 15% below the average consumption of the past five years. The EU said the move was intended to prepare for possible disruptions to Russian gas supplies.
Russian media: Ukraine stops sending Russian oil to Czech and other countries via southern route of 'Friendship' pipeline
Rosneft explained that it was unable to pay transit fees to Ukraine due to EU sanctions and that "the previously paid transit fees were returned".
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