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[Market Morning] The US dollar Is Approaching 106, Gold Is Approaching 1790, Silver Closed Up Nearly 4%, US Oil Has Returned to the 90 Mark, and US Consumer Inflation Expectations Have Dropped Sharply. Maybe This Week’s CPI Will Not Break the Table?
The U.S. dollar index was trading around 106.40 in early Asian trade. The dollar gave up some of its gains on Friday after the U.S. jobs report was released on Monday. Multiple clues; the fall in the yields of the U.S. dollar and U.S. Treasury bonds pushed the price of gold back to its highest level in nearly a month; crude oil rose more than 2% and returned to above 90, benefiting from positive economic data that brought hope to demand.
On Monday, spot gold fluctuated upward, approaching the 1790 mark, and finally closed up 0.79% at $1,788.83 per ounce; spot silver once again stood at the $20 mark and finally closed up 3.9% at $20.68 per ounce.
Comment: Gold prices rose on Monday after the dollar and US Treasury yields retreated. Investors turned their attention to US inflation data for clues about the US Federal Reserve's plans to raise interest rates.
Suggestion: short spot gold at 1789.10, and the target point is 1771.40.
The US dollar index fell slightly, successfully holding the 106 mark and closing down 0.19% at 106.37.
Comment: The dollar retreated on Monday, giving back some of its gains following Friday's US jobs report. Investors awaited Wednesday's US inflation data for more clues on the Fed's next move.
Suggestion: long EUR/USD at 1.01970 position , target point 1.02610.
In terms of the two oils, WTI crude oil fell first and then rose, recovering all the lost ground in the day, and stood firm at the 90 mark in late trading, and finally closed up 2.46% at US$90.68 per barrel; Brent crude oil closed up 2.26% at US$96.48 per barrel.
Comment: Oil rose more than 2% in choppy trade on Monday, rebounding from multi-month lows last week. Positive economic data provided hope for demand despite lingering fears of a recession.
Suggestion: go short at 89.750 US crude oil, target point at 86.500.
US stocks closed, the Dow closed up 0.09%, the Nasdaq closed down 0.1%, and the S&P 500 closed down 0.12%. Department stores and hydrogen energy stocks were among the top gainers. Sohu rose about 3% after the results, AMC Cinemas rose about 7%, and Nvidia fell about 6%.
Comment: US stocks were largely flat on Monday, as strong US jobs data last week reinforced expectations that the Federal Reserve will fight inflation. At the same time, a revenue warning from chipmaker Nvidia reminded investors that the US economy is slowing.
Suggestion: Long position of Nasdaq index 13203.400, target point 13353.200.
The thermal power plant near the explosion site in Cuba is out of service, and the local power supply is tight.
According to reports from the Cuban Electricity Union on August 8, due to the fire at the oil storage base in Matanzas province, the Antonio Gitras thermal power plant near the oil storage base ceased operations at around 13:00 local time. It is reported that the reason for the shutdown of the thermal power plant is a lack of water, and although measures have been taken to supply water to the plant through pipes, it is still not enough to maintain its operation. The Cuban Electricity Union said it could not ensure that the thermal power plant would be able to resume operations during peak electricity consumption periods. It is understood that as of 14:00 that day, the country's electricity supply gap had exceeded 1,200 megawatts. The lack of power generation is expected to linger throughout the afternoon and evening, with the daytime power supply in Havana also affecting that day. (CCTV)
USAID: Ukraine will provide an additional $4.5 billion in funding
On August 8, local time, the US Agency for International Development (USAID) issued a statement saying that it would provide an additional $4.5 billion in funding to the Ukrainian government, bringing the total amount of US funding to Ukraine since the outbreak of the Russian-Ukrainian conflict in February to $8.5 billion. The funds, coordinated by the World Bank and the US Treasury Department, will flow to the Ukrainian government in tranches, with the first $3 billion disbursement starting in August, according to the statement. (CCTV)
Putin signs presidential decree on foreign exchange business of Russian financial institutions.
Russian President Vladimir Putin signed a presidential decree on August 8, stipulating that if a Russian financial institution cannot conduct foreign exchange operations due to sanctions, the financial institution has the right to stop conducting such foreign exchange business with legal and individual merchants.
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