【TOP1 Evening 】U.S. dollar fell for three consecutive days. Gold prices remained firm and crude oil futures rose.

Gold: Gold price rises.

Spot gold rose 0.6% to US$1,850.66, while US gold futures rose 0.5% to US$1,850.

During the appointment hearing, Yellen urged lawmakers to "take large-scale actions" on the new crown rescue expenditure, saying that the economic benefits far outweigh the risks of increasing debt burdens. The Biden administration is expected to launch more rounds of fiscal stimulus. Yellen even stated that it will take "large-scale actions." Such measures may significantly increase inflationary pressures in the United States and at the same time boost the price of gold. Market analyst Han Tan said.

Silver rose 0.8% to $25.40 an ounce. Platinum rose 1.1% to $1,095.13. Palladium rose 0.6% to $2,367.29 per ounce.

Crude oil: The two major crude oil futures closed higher.

US WTI crude oil February futures closed up 62 cents, or 1.18%, to US$52.98 per barrel; Brent crude oil March futures closed up 1.15 US dollars, or 2.10%, to US$55.90 per barrel.

The U.S. Energy Information Administration (EIA) lowered its oil demand forecast in its latest monthly report, reducing oil demand in 2020 by 8.8 million barrels per day, and lowering the global oil demand forecast for the second quarter of 2021 by 300,000 barrels per day; 2021 The forecast for global oil demand for the third quarter of 2010 is lowered by 100,000 barrels per day; the forecast for global oil demand for the fourth quarter of 2021 is lowered by 200,000 barrels per day. Taking into account the improvement in demand in the second half of 2021, there may be more room for supply growth.

Stock market: US stocks closed higher on Tuesday, led by technology stocks.

The Dow Jones Industrial Average closed up 116.26 points, or 0.38%, to 30930.52 points. The US Standard & Poor's 500 index closed up 30.66 points, or 0.81%, to 3798.91 points. The Nasdaq Composite Index closed up 198.68 points, or 1.53%, to 13,197.18 points.

The Japanese stock market gave up its intraday gains on Wednesday and closed down. It was suppressed by profit ties, while the US Treasury Secretary’s nominee Yellen called for large-scale spending measures, which did not surprise investors. The Nikkei index .N225 closed 0.38% lower at 28,523.26 points.

Forex: The US dollar fell for three consecutive days.

The U.S. dollar fell against a basket of currencies for the third consecutive day on Wednesday. Improved market confidence boosted higher-risk currencies such as the Australian dollar and the euro.

The Australian dollar is the most volatile currency in the Group of 10 (G10) currencies, rising 0.5% to 0.7734 US dollars AUD=D4. The New Zealand dollar followed closely behind, rising 0.35% to $0.7140.

As the U.S. dollar weakened, the euro against the U.S. dollar EUR=EBS rose 0.4% to 1.2121, basically ignoring the vote of confidence that Italian Prime Minister Conte faces to remain in power. The Conte government seems expected to win the vote.

The volatile commodity-related currencies such as the Australian dollar also benefited from the weakening of the US dollar. The Australian dollar AUD=D3 rose 0.1% to US$0.7693.